What does all this mean for the housing market?

Recent events have unexpectedly thrown us into a unique situation that most of us have never experienced before. I understand that there are a lot of questions right now about what this means for the housing market. I'll be perfectly honest... I don't know. But, there are a few things I do know, and I'd like to share them with you.

1) Currently, the housing market is still strong. Interest rates took a bit of a roller coaster ride last week, going from ' low ,' to ' very low ,' up to ' still low .'

2) On Sunday, March 15, news broke of the emergency Fed cut to the target (central) rate. Please understand that the Fed central rate does not correlate to mortgage rates. Mortgage rates are tied to the 10yr treasury, and at the moment, rates are not any lower than how they ended last week, which are still historically low. For more information: http://bit.ly/FedRateCutMarch152020

3) I, and my brokerage, am taking the COVID-19 situation very seriously; however, I am still here conducting business in a safe and thoughtful manner.

I am not holding open any homes, nor am I participating in Open Houses at the moment, but I am happy to virtually "walk" my clients through any homes they'd like to see, using Facetime or other tech resources.

For Sellers, I am questioning any brokers and potential buyers who would like to tour a home, with regards to recent illness and travels. I am also requiring all brokers to wipe down all handles and surfaces they have touched in the house. Of course, it's a reality that buyers will want to open doors and cabinets, but I want to make sure we are limiting potential risks as much as possible.

If Sellers do not want people through their home, I am available to send video tours to potential buyers and answer any questions about the home.

In these trying times, it's crucial that even if we are socially isolating ourselves, that we stick together as a community. I'm here to help in any way I can, real estate related or not. Please do not hesitate to reach out to me if you need anything. We're in this together.

Stellar Realty Northwest Featured Listing

61662 Thunder Road, Bend, OR

4 Beds | 2.5 Baths | 3,640 SF | 5.02 Acres | $799,000

Listed by, Brook Gardner

Tucked near the end of a private road, this home offers abundant interior living space along with a detached garage - all set on 5.02 private acres. This interior of the residence is centered around a great room which boasts 30 ft vaulted ceilings and a kitchen with island and stainless steel appliances. Saltillo tile floors adorn much of the first floor which also features a 700+ sq. ft. bonus/family room and guest room, plus an artist studio/office space. Upstairs is the master suite with jetted tub and spacious walk-in shower, along with two guest rooms which are separated from the master by a loft-style hallway - located on the opposite side of the home. Each of these upstairs guest bedrooms features a loft area (reading nook?). Cascade Mountain views, 2 fenced acres, multiple outdoor living spaces and fire pit round out this offering which backs to private land - all set just a stone's throw away from shopping, schools and recreation - the Thunder Road Ranch offers it all.