The overall dynamics of real estate have not changed in the last week, although the clean slate of a New Year is palpable. Anyone considering a home purchase in 2021 owes it to themselves to be engaged in the market today. Properties that did not sell by the close of 2020 are competing with new listings, which is great for buyers. I do not anticipate this environment lasting long as projections for low-interest rates and high buyer demand continue through 2021.
Have you considered investment property in Central Oregon? There are 49 commercial properties listed between Crook and Deschutes Counties, with the least expensive opportunity starting at 175k! If real estate investing is a goal, Central Oregon has options suitable for every type of investor. Many homeowners today have significant equity in their homes, and some are tapping into that equity to invest in real estate. Pulling equity from a primary residence is not something to take lightly, although something to consider for owners with mortgages well below the appraised value.
No matter the type of property you seek, knowledge and quick action is imperative in today's market. How quickly is the market moving? In December 2020, the median days on the market for pending properties was five!!
