Bend Recession - It's Over!
The Bend Oregon local newspaper, The Bulletin, had three articles pointing to the end of the recession in Oregon Thursday. "Index shows end of Oregon recession" reported that the University of Oregon's Index of Economic Indicators rose for the third month in a row. Signaling the end of the recession in Oregon.
"Fed Survey finds signs of recovery" and a graph showing the continued rise in pending home sales for a record nine months. It's also been recently reported that Bend Oregon real estate inventories are down by almost 50%. The number of bank foreclosures for currently for sale is down about 25% as compared to this summer.
In my opinion the real estate market in Bend is not going to bounce up with any dramatic increases but we will see more and more multiple offers on well priced listings. Five of the 18 home sales I made this year were involved with multiple offers. Some of my clients lost homes that were in multiple offer situations.
About 80% of the homes for sale in Bend today are over priced but the remaining homes present great opportunities for the home buyer. These prices are great and interest rates are at historic lows. I believe between now and next summer is the time to buy.
If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.
Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate. Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert. E-MAIL