I had a client today ask me how bad the home prices in Bend, Oregon have fallen.  I told him it depends on the location of the home in Bend, knowing that to be the case, but not really having the numbers to back it up.  I knew, without checking, that Northwest homes had faired far better than the Northeast homes, but I wasn't exactly sure about the home prices in the Southeast and Southwest Bend area.  So off to the MLS I went to run some reports.

Turns out Bend, Oregon median home sale prices have dropped 30% from January '08 to January '09.  I was surprised to find out the Southeast median home sale price dipped only 14%, and that the coveted Northwest area came in at an 18% decline over last year.  I was not surprised to discover that the Southwest and Northeast median home sales prices both fell 32% from last year.  

While none of this is good news for home owners, it shows the importance of location when home buyers are choosing a new home.  These numbers prove the importance of location when shopping for a new home, and prove the importance of using a good Realtor® to help you in your decision making process.  You can't completely mitigate your risk when purchasing a home, but you can definitely reduce it with a good agent.

Troy Batson is a Licensed Broker in the State of Oregon ~ troybatson.com ~ Duke Warner Realty ~ Bend, Oregon