First Time Home Buys in La Pine & Three Rivers South

By
Real Estate Agent with Fred Real Estate Group

There is a lot of talk about the Real Estate market, mortgage issues and so on, most of it negative. I wonder, why? Rates are low, the real estate market in La Pine and Three Rivers South has a lot of inventory to choose from and homes are selling. Maybe not in record numbers but they are selling.

Lenders have multiple programs that are very suitable for first time home buyers. Rick Grand a lender in Eugene recently wrote an article about one such program called P.A.L. Rick states that some borrowers can receive up to $10,000 towards the purchase of their new home.

Currently La Pine and Three Rivers South have a lot of different types of properties that qualify for many different lending programs. There are sellers that are motivated and willing to pay for closing costs or really negotiate a lower purchase price.

The market is not nearly as bad as the media makes it out to be here in Central Oregon. According to the Bend Bulletin last week the real estate market has hit a plateau. The good news of this is that Bend is no longer seeing a downward trend.

La Pine and Three Rivers South has not seen a declining market, although the average days on market are longer and there are price reductions, actual sales prices for 2007 are still higher than those of 2006. This means when a property is appraised the appraiser does not have to check the dreaded declining market box. La Pine and Three Rivers South have not seen a declining market. There are a few areas in Bend where appraisers have had to check this box.

Gena Riede a REALTOR® in Sacramento, California recently wrote an article titled "When Should a First Time Home Buyer Buy a House?" In Gena's article she says

"There are some great homes for sale and great buys on the market for sale right now. Don't wait until the homes are picked over and the good ones are gone or until the real estate market heads back up or worse yet, until interest rates go back up with severe tightening on loan restrictions."

I find it encouraging that although she is in Sacramento and I work the Central Oregon market that the same is true for both areas.

A great example for a prefect first time home buyer is the home shown in the visual tour below.

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Free CMA central oregon buyer info  Auto Email Listings Contact Thesa

Thesa Chambers • Broker • RE/MAX Sunset Realty

541-771-7064 Cell • 541-536-0117 Office • 888-868-2050 Toll Free

Mailing Address • PO Box 3510, La Pine, OR 97739

Comments (13)

Rick Grand
nowhere - Eugene, OR
Well put Thesa! Great blog :) Thank you for mentioning my blog, I'm glad that I can the information I'm posting is useful! It still is a good market and even with the tightening of programs their are options for people.
Oct 18, 2007 04:45 AM
Mana Tulberg
805 County Real Estate - Camarillo, CA
Real Estate Agent - Camarillo CA
Thesa, Good point. If buyers keep waiting (like some sellers did) they might miss the boat!!!!
Oct 18, 2007 05:02 AM
Robert Hammerstein -201-315-8618
Christie's International Real Estate - Hillsdale, NJ
Bergen County NJ Real Estate

Good info!  Love your links and the info you put into your links!

 

 

Oct 18, 2007 05:11 AM
Thesa Chambers
Fred Real Estate Group - Bend, OR
Principal Broker - Licensed in Oregon

Rick - Not a problem - it is nice to have Oregon Mortgage Professionals provide great information to Oregon REALTORS®.

Mana - they very well may - with lending programs changing everyday - I get so tired of hearing buyers say - oh I wish I had known about that program or that home - and all the while I was sending them the info.

Lisa & Robert - Thanks - I can not take credit for the links - they are just great links I have found while cruising through the pages of AR and AR members outside links.

Oct 18, 2007 10:09 AM
Celeste "SALLY" Cheeseman
Liberty Homes - Mililani, HI
(RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE
First of all.....look at your new pic with your smiley face! Love it!  And you know what I think about your posts...you always have wonderful info, tours and a bunch of you. Thanks
Oct 18, 2007 01:41 PM
Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro
Thesa, I hear we had a really depressing article come out in the Houston Chronicle.  I quit taking the paper years ago because of their spin so I guess it doesn't totally surprise me.  I just don't see the doom and gloom here like the media makes it out to be.  There are some GREAT programs for first time home buyers.
Oct 18, 2007 01:41 PM
Thesa Chambers
Fred Real Estate Group - Bend, OR
Principal Broker - Licensed in Oregon

Sally - you are way too kind - I hate photos - that was my daughter's idea of having fun tonight - I think she just likes playing with my camera.  Secondly you too have such nice posts - thanks for the comments.

Marchel  - there are and a lot of them are very qualified.

Oct 18, 2007 02:15 PM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co

Hi Thesa,

Good points on this one. I missed Gena's post, I'll take a look, thanks. BTW, love your new photo, beautiful smile.

Oct 18, 2007 03:11 PM
Thesa Chambers
Fred Real Estate Group - Bend, OR
Principal Broker - Licensed in Oregon
Lynda - thanks on both accounts - I am not thrilled to have my photo taken - but it is what it is :o)
Oct 18, 2007 03:18 PM
Lisa Hill
Florida Property Experts - Daytona Beach, FL
Daytona Beach Real Estate

No decline? It must be nice! Lean in a little closer so I can smack you! j/k... or maybe not

smiley

Oct 18, 2007 04:10 PM
Rita Taylor
None - Sanford, NC
Sanford NC Real Estate - Homes for Sale in Sanford North Carolina

Thesa,

Glad to hear values in your market are holding steady.  Interest rates are still very good - do you remember the crazy rates of the 80s?

Oct 19, 2007 12:53 PM
Thesa Chambers
Fred Real Estate Group - Bend, OR
Principal Broker - Licensed in Oregon

Lynda - thanks for the compliment on my smile - I hate the double chin look of this photo - it does look better in color than pink... lol - I hate having my photo taken -

Lisa - Decline is different than downward - decline simply means that the homes are still selling for more than last year.... days on market are up - and our third quarter numbers are looking better.

Rita - Oh yeah - I remember them all too well -

Oct 19, 2007 04:48 PM
Gena Riede
Riede Real Estate, Lic. 01310792 - Sacramento, CA
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Thesa, thanks for the mention up above. It's so true...this is a Home Buyer's Dream Come True. There has never been a better time for the Home Buyers than today's Real Estate market. Just hope that the Home Buyers are listening and take notice before it escapes them.
Oct 24, 2007 07:32 AM