Home sales in Bend increased 9.35% in June from a year earlier. Although sales volume has been increasing on a year-over-year basis for several months now, what makes June's numbers more remarkable is that traditional sales accounted for the entire uptick last month. In fact, both the number of bank-owned transactions and short sales declined in June from a year ago while traditional sales increased by more than 22%!
The price per square foot paid for homes sold last month was down 3.21% from 12 months ago but, at $109.63/sf, last month's median price per square foot price is 4.7% higher than the $104.74/sf for sales through the first 5 months of this year.
Monday, July 12, 2010
Tuesday, June 29, 2010
Expiration Of Tax Credit Doesn't Deter Buyers
There is a lot of news in the press about an alleged slowdown in home sales since the expiration of the $8,0000 homebuyer's tax credit on April 30th. While I don't have first hand knowledge of all the markets across the country, I can tell you that passing of the deadline was little more than a bump in the road locally.
Since May 1, no less than 240 houses have gone under contract with home buyers who seem to be taking advantage of historically low interest rates combined with a significant reduction in home prices over the last 3 years, tax credits be damned.
Makes one wonder if the credits were even necessary for reviving the housing market to begin with, especially considering the enormous deficits state and federal governments face for years to come due to unprecedented spending.
Let me know your thoughts.
Monday, June 28, 2010
May Home Sales Yield Another Monthly Increase
The number of houses sold in Bend increased yet again from year ago levels last month, with147 sales reported to the MLS of Central Oregon in May.
The 147 sales represents an increase of more than 23.5% from May 2009 when 119 homes were sold.
May marked the 16th consecutive time that home sales have increased from the same month a year earlier.
The 147 sales represents an increase of more than 23.5% from May 2009 when 119 homes were sold.
May marked the 16th consecutive time that home sales have increased from the same month a year earlier.
Thursday, May 6, 2010
Home Sales Increase Again While Prices Show Stability
The number of houses sold in the Bend area last month increased 39.8% from a year earlier, while the median price per square foot was down only slightly, from $104.40/sf in April 2009 to $102.51/sf last month. 151 house were reported sold in the month just ended versus a total of 108 a year ago.
April marked the 14th straight month that sales volume has equaled or exceeded the number of closed sales from the same month a year earlier.
The median sale price per square foot last month was slightly higher than it was over the first three months of the year, when the price paid per square foot of living space in stick built houses on one acre or less was $102.15.
April marked the 14th straight month that sales volume has equaled or exceeded the number of closed sales from the same month a year earlier.
The median sale price per square foot last month was slightly higher than it was over the first three months of the year, when the price paid per square foot of living space in stick built houses on one acre or less was $102.15.
Saturday, May 1, 2010
Friday, April 30, 2010
Getting Paid To Buy A House Ends Today....Or Does It?
The deadline for earning federal tax credits associated with the American Recovery and Reinvestment Act is today. To qualify for the credits of up to $8,000, most home buyers must "enter in to a binding contract" by the end of the day today and close on their purchase by June 30.
There is an exception however. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community have another year to qualify.
Not a soldier, foreign diplomat or government spy? Don't fret. There is another little known method you can take advantage of to have the government give you money for buying a house.
Home buyers who purchase a Fannie Mae foreclosure may be eligible for a credit of up to 3.5% of the purchase price to pay for closing costs and/or new appliances. That's $8,050 for a purchase of $230,000; more than the expiring tax credits!
There are many Fannie Mae-owned houses currently for sale in Central Oregon that are in great shape and priced to sell quickly. Combined with historically low interest rates in the 5% range and thousands of dollars in incentives being offered to purchase them, now really may be the best time to buy a new home for you and your family.
Please call me for more details about these and other money saving opportunities available to you for purchasing a home.
There is an exception however. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community have another year to qualify.
Not a soldier, foreign diplomat or government spy? Don't fret. There is another little known method you can take advantage of to have the government give you money for buying a house.
Home buyers who purchase a Fannie Mae foreclosure may be eligible for a credit of up to 3.5% of the purchase price to pay for closing costs and/or new appliances. That's $8,050 for a purchase of $230,000; more than the expiring tax credits!
There are many Fannie Mae-owned houses currently for sale in Central Oregon that are in great shape and priced to sell quickly. Combined with historically low interest rates in the 5% range and thousands of dollars in incentives being offered to purchase them, now really may be the best time to buy a new home for you and your family.
Please call me for more details about these and other money saving opportunities available to you for purchasing a home.
Friday, April 2, 2010
Bend Home Sales Up, Prices Stable in March
Sales of stick built houses on less than one acre in Bend increased 46.8% from a year earlier in March. Prices declined just 1.5% year-over-year.
138 houses were reported sold last month compared to 94 in March 2009.
The median sale price per square foot was $109.83, versus $111.53 a year earlier.
With 739 houses currently listed for sale, the inventory of homes for sale is currently 5.36 months. 6 months of inventory is generally considered to indicate a balanced market.
138 houses were reported sold last month compared to 94 in March 2009.
The median sale price per square foot was $109.83, versus $111.53 a year earlier.
With 739 houses currently listed for sale, the inventory of homes for sale is currently 5.36 months. 6 months of inventory is generally considered to indicate a balanced market.
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