Timing the Bottom
Are you waiting to time the bottom of the Bend Oregon real estate market? It is a very difficult thing to do. Real estate statistics lag so far behind the market we never know when there was a bottom until we are coming out of it and prices are starting to rise.
Once that happens buyer competition increases. You don't know prices have started to go up until after the fact. Then you have missed the bottom. Buyer competition means multiple offers. So that is one sign to look for.
We are currently seeing multiple offers in today's market. I sold 5 properties in the past few weeks and 3 of the 5 had more than one offer. Other Realtors are also seeing multiple offers on well priced homes, especially bank foreclosures.
Does this mean we have hit the absolute price bottom of the market? Maybe! Maybe not! Only time will tell. It does indicate there is pent up demand and buyers are jumping on good opportunities.
I do believe we are at or near the bottom of the Bend Oregon real estate market. Strong buyer activity and multiple offers are a good indication. Using the graph above I feel we are now in the "Lucky Zone." People who buy now and this summer will be as close to the bottom as humanly possible. I may be wrong but I don't think so.
Interest rates are near all time lows. Consumer confidence is rising. Prices are extremely affordable and Bend Oregon is one of the best places in the United States to live!
There is still some fear out there. It's easy to buy when prices are rising rapidly. But look what happened to the people who bought in the "Unlucky Zone." You can be lucky and smart by purchasing a home in Bend Oregon now. It's for sure "Safe" to buy real estate in Bend now.
If you’re serious about buying Bend Oregon real estate 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