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Is it a good time to buy?

Real Estate Agent with The Broker Network of Central Oregon

I can't say for sure but if we have not hit bottom yet we are very close!

If you wait for the bottom you will not know it until it's passed you by!


Is it a good time to buy?

We think so if you can take a minute to read thru this, we hope to explain why. (statistic for Bend Oregon)

Þ Interest rates on loans are the lowest they have been in two years
Þ From May of ‘07 to Jan of ‘08 the median price has dropped 20% from 396k to 320k
Þ Price per square foot from Aug of ‘06 to Dec of ‘07 has dropped 24% from $206 to $157 a square foot
Þ Building permits have dropped substantially from Jun of ‘06 to Nov of ‘07 equaling an 80% drop from 165 to 34 issued
Þ Days on market from Aug of ‘06 to Dec of ‘07 increased 48% from 92 to 175
Þ Number of sales from Jun of 06 to Dec of 07 are down 69% from 248 to 77
Þ Number of listings in MLS system from Aug of ‘07 to Jan of ‘08 has dropped 23% the difference of 1623 listings to 1255.
Þ Opportunities are many!!

Mary Aguilar
David Lyng Real Estate - Monterey, CA
I agree!  It is the best time to be a buyer - now if we can all convince our sellers to drop their prices in line with the market and get our buyers to make an offer - we will be quite busy and successful this year!
Feb 07, 2008 02:53 AM
Mike Norvell Sr
Morris Williams Realty - Leesburg, FL
Norvell Consulting Group
You better hold on Chris, I am looking for a slower rate of decent, but not the bottom. Look for investors, they will keep you in the business thru good times and bad...
Feb 07, 2008 02:53 AM
Steve Glose
Keller Williams Legacy - Orlando, FL
TRC, CIPS, 407-616-7286, Orlando Real Estate, Orla
I agree with Mike. here in Central Florida my international investors are keeping me in business. They see our prices and exchange rate as a bargain.
Feb 07, 2008 02:58 AM