Home Sales See Big Jump In 2009

The number of houses sold in the Bend/Tumalo/Alfalfa area increased nearly 40% in 2009 from a year earlier.

A total of 1563 houses were sold in last year versus 1123 in 2008, when prices really started to decline and the financial market was on the brink of imploding.

The increase in sales is attributable to drastically lower home prices, historically low interest rates and federal tax credits for home buyers.

The median price for all homes sold in Bend last year was $212,500, down more than 26% from 2008, when the median sale price for the year was $289,000. The median price per square foot fell by roughly the same percentage, from $153.2/sf in 2008 to $112/sf in 2009.

Continued low interest rates also played a role, with 30 year fixed rates staying below 5.5% and even dipping below 5% several times thoughout the year.

In addition, a federal tax credit of up to $8,000 for home buyers is leading some to buy now, before the incentive ends (Unless extended, the tax credits are set to expire at the end of April).

If you've been considering buying a home and haven't seriously looked in a while, I know you'll be surprised to see just how affordable homes are now compared to just a few short years ago. Give me a call today to get started.

Graffiti Removal Hotline

Until just a few minutes ago, I didn't even know Deschutes County had a Graffiti Removal Hotline. It's run through the county Juvenile Community Justice Department and the work is apparently done by youthful offenders. This sounds like an excellent program. Please copy this number and pass it along: 541.385.1720