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Still Waiting?

  • Writer: Shaun Kent
    Shaun Kent
  • Mar 9, 2023
  • 1 min read

Last year, I wrote a blog titled "The Central Oregon Housing Market Crash isn't coming".


The crash isn't coming.


Here we are, nearly 6 months later. The median sales price in Bend 6 months ago was $680,000. Median price in January was $685k. (Beacon report) The main reason for this is low inventory. If people don't have to sell and give up their ridiculous 2.6% interest rate, they are not going to.


But maybe rates were going to get better, right? Is that what you've been waiting for?

Interest rates are 1 point higher today than they were on September 9, 2022. (Freddie Mac Primary Mortgage Market Survey). Chatter out of the FED just this week suggests a more aggressive and sustained effort to continue to tame inflation with rate hikes throughout the year.


Get this...rates are also about a point higher than they were on Feb 2nd, just a little over 30 days ago.


Here is what I see as a lender:

Many are waiting to see if things get better.


There are good deals in any market, but only for those who are preapproved, working with a great mortgage and realtor team, and ready to go.


"Strike while the iron is hot" should be the mentality in real estate.


Shaun Kent, NMLS #255566, Licensed in OR and WA

 
 
 

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Bend, OR

225 Scalehouse Lp. Suite 102

Bend, OR 97702

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2370 14th Ave. SE

Albany, OR 97322

Eugene, OR

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 Eugene, OR 97401

Hermiston, OR

1000 N 1st. St. Suite B

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Lincoln City, OR

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Vancouver, WA

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