The housing market right now is HOT as spring typically is the busiest season in real estate, and with the oddly warm weather in Central Oregon, people are out looking. It seems as soon as a new home is listed, someone is interested and ready to buy, so if you are thinking about selling or buying, get in touch with someone to get the process going.
Here are some things you should know about the Real Estate Market for spring 2020.
Home Price Growth- Home prices grew slower in 2019 (3.3%) than in 2018 (5%), and it’s predicted this year to be the same with a rise of 2.8% in 2020, so that’s good if you are looking to buy this year.
(stats are from cnn.com and across the U.S.)
Mortgage Rates- Mortgage interest rates have been dropping in 2019, dropping below 4% for common loans. In 2020, it’s predicted that interest rates will stay around 3.7% for a 30-year mortgage and 3.2% for a 15-year mortgage. This is great If you are trying to sell your home, as buyers will be more motivated to buy sooner than later, so that’s why it’s vital to jump on it now, rather than later, when rates may increase and your home could stay on the market longer.
Who’s Buying? With millennials being the biggest group of home buyers- 37% last year and growing, it’s important to know exactly where they are looking and what they are looking for when it comes to buying. Be sure to do some research and work with brokers who will post your home on sites and apps that are popular for those who are very tech-savvy, as most millennials are looking online as oppose to looking in the newspaper or just driving around and looking.
(stats from daveramsey.com)
What’s the takeaway? With the price growth staying about the same, and mortgage rates dropping, this could be the perfect opportunity to buy and sell. If you are buying, make sure you are doing what’s best for you not only financially, but long-term as well. If you are selling, get the process going now, while people are looking.
Please do not hesitate to email or call us for any questions you may have regarding the buying or selling process, we would love to help!
Call- (541) 420- 3725
58123-15 Gannet, Sunriver- ( https://bend-sunriverhomes.com/58123-15-gannet-sunriver/ )
Riverfront Sunriver home on Gannet Lane! This comfortable 2,203 s.f. home is tucked away on a quiet 1/4-acre (+/-) lot in the NW corner of Sunriver Resort. A large wrap around deck is the perfect place to spend summer afternoons. The comfortable Great Room/Family Room area has a cozy woodstove, large picture windows, and a kitchen with solid surface countertops and an island. There is a hallway/utility area leading from the 3-car garage that serves as a perfect “mud room” area after a day on the mountain or out hitting the trails. The wrap around deck also boasts a perimeter stem wall design that provides lots of storage for canoes, kayaks, etc. Gannet Lane is one of the few lanes in Sunriver where there are no bike paths between your home and the river. Access to the National Forest is just a block or two away. 3 bedrooms, 2.5 bathrooms and abundant storage. Adventure awaits!
Call, text or email us for more information about the listing above.