bend oregon home

For realtors in Bend Oregon, appreciation of home values has been a fact of life over the last three months as home prices in the area have spiked dramatically including spiking over 20% in just the month of March alone.

Thanks to a recent report by CoreLogic we know that the recent spike in real estate sales in Bend also includes the sales of distressed properties like short sales or foreclosures and, sales of these distressed properties are nearly double the national average of distressed properties which is currently at 10.5%.

Shortage Of Affordably Priced Homes

For some homeowners, an affordable home is a home that’s priced under $1 million dollars while for others it’s a home that’s priced under $250,000; since the inflation of home values in Bend have taken on a rapid pace over the last few months it’s getting tougher than ever before for homeowners to find homes that are valued at $250,000 and under.

What’s the reason for the lack of affordably priced homes in Bend? One reason is that homes are being bought quickly by eager home buyers who are snatching them up almost as soon as they are being listed on the market and the average Bend Oregon home that’s priced at $250,000 and under is staying on the real estate market for 30 days or less (depending upon area).

Get Ready For Multiple Offers

Residents of Bend Oregon who are considering buying a home during the 2013 real estate market had better be prepared for multiple offers; this fact was also validated by the recent CoreLogic report when it showed that the state of Oregon has enjoyed the fifth largest gain in property values across the United States over the last 12 months.

What’s the secret to success for buying a home during this competitive Real Estate market? It all boils down to the Real Estate agent that the home buyer hires.

Potential home buyer in Bend, Redmond, Madras or anywhere else in United States should make sure that they hire a Listing Agent who is both experienced with buying and selling locally and has the references to back up their claims of experience.

To learn more about the state of the Bend Oregon real estate market or to find out what you need to do to find the home of your dreams in this area even when you’re faced with the possibility of competing against multiple offers, contact me today by calling me at (541) 383-1426.