Media reports that the proverbial real estate "bubble" has burst is now an Urban Legend!
The reality is what has been happening is housing prices are returning to some semblance of price"normalizing" resulting in a softening in home prices. But this is a good thing, right?
Instead of the market being driven by Sellers in recent years, now it's the Buyer's turn to reap the rewards of a glut in listings...plus, riding on top of still single digit mortgage interest rates! In some prime market areas (such as Bend, Oregon) we expect to see prices start rising again as Winter ebbs and Spring brings early tourists for late season snow skiing at Mt. Bachelor and Hoodo ski resorts, and fly fishermen start hitting the mountain lakes and lower rivers... and then there's the golfers hitting the links here too!
Praise God for shining light in that dark tunnel of market down turns.
Now, run along and Have A Good Day!
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