Probably the most frequently asked question heard as a Realtor is… What does the housing market look like in Sunriver? Its not a bad or dumb question either… My answers vary a little based on who im talking to and what the nature of the conversation is. However, there are common threads that run through my answers…
- Its like everywhere to a certain extent, the housing market is down in general.
- Home values are way down but not quite as low as areas out of Sunriver.
- The inventory of homes is large, A lot larger than it typically is. If a home is not the most attractive or best priced within its own mini market than it may sit for sale for quiet some time.
- Interest Rates are at the lowest historical point since record keeping.
- We may be near a “bottom” of the market but we may not be there. However, finding the bottom of the market is not as critical as one might think. The bottom is going to come and go quicker than anyone will be able to measure. Interest rates will likley surge once the bottom is reached and you will have lost ground instead of gained on your overall loan/investment.
- Now Now Now would be the ideal time to bye. 1. Low interest rates 2. Home values in the area drmatically decreased since the overall downturn of the economy 3. Huge inventory to find the home of your dreams. Once the “bottom” is reached the inventory will shrink quick, limiting your options.
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