The volume of newsworthy events of the last week has been staggering, proving that our 24-hour news cycle is working overtime! Low inventory of homes for sale and lower mortgage interest rates dominated many real estate discussions of late. Even so, the July 2020 Bend average home price of 529k has earned top billing from our local news agencies. In response to this milestone, there has been a storm of social media posts decrying Bend's ruination. Bloomberg News wrote an opinion piece about the prevalence of work-from-home jobs in Bend calling us a "Zoom-Town" after the popular video conferencing software. While some see Bend's continued growth as positive, others are concerned that homeownership here may be slipping away. First, check out these listings in Bend between 200-400k. Second, call a lender (or two!) and find out precisely what you can afford. Many buyers are surprised to learn homeownership is within reach with so many loan options available today, combined with record-low interest rates. All of the same factors applying pressure on the housing resale market are also impacting the rental market. If your home-buying strategy entails waiting for prices to decline, now may be a good time to re-evaluate your position.
Pandemic affected the typical summer home-selling season, and July 2020 home appreciation of 13% over July 2019 indicates the number of buyers coming to Central Oregon. But, there are currently 365 homes listed for sale between 250-400k throughout Central Oregon. Call me today to discuss your options for making Central Oregon home!
The 2020/2021 school year is starting to take shape, with the Bend-La Pine School District announcing that school will begin this fall in a distance-learning format. Click here to visit the Bend-La Pine School District website for more information about the two distance-learning options. Next week, the school district will release more details regarding the dates for re-evaluating the plan and how the school district will support parents and children.
