Buying or Selling in This Crazy Central Oregon Real Estate Market
I have successfully helped home buyers and sellers with their real estate needs for over 14 years. Chat with me for five minutes and you'll know I love what I do. Ask my clients, friends and family!
Everyday as I sit down to review the MLS hot sheet that shows the market activity in the last 24 hours I am encouraged. Encouraged as I'm seeing more homes coming on the market, e.g. in the Central Oregon MLS there were 60 new homes that went "live" yesterday. This doesn't mean the market has changed, it just indicates there are more homes becoming available to buyers.
Our low housing inventory is the good old law of supply and demand. We have more buyers who want to purhcase than there are homes for sale. This equates to low inventory, competing offers, and homes/land selling for over list price.
This is a tough market for both home buyers and sellers. What? you ask?!! Really, how is that? Buyers are paying more than they imagined for a home and that may help with the value of the sellers home, but keep in mind the sellers now have to find a replacmenet home. They are now buyers and in the same situation. Is there a home they'll like? Is there a home they can afford? Often they find they aren't able to relocate within the same community and have to look elsewhere. Additionally, they are trying to make decisions on which offer to accept when there are multiple offers.
Have I said yet, "that buying and selling a home can be rife with emotion and drama"? Selling a home is often times emotional as they start their next phase in life. Packing is a trip down memory lane that brings tears of sadness and joy as the seller starts to say goodbye. It is also emotional as the seller strives to make the best decision knowing there will be buyers who are going to be told their offer was rejected. Even the experienced of sellers can struggle. They want their home to be loved as they loved it. They want nice people moving in for the sake of their beloved neighbors.
It can be emotional, daunting, overwhelming but it's also exciting at the possiblities of your next phase in life. This is truly the part of this whole journey I love most. Walking the path beside my client's, encouraging them, supporting them and providing information so they can make the best decision possible.
If you're considering purchasing or selling a home, go for it. Be prepared for the journey and work with a Real Estate Broker you trust. We are an instrumental part and can help you navigate the waters knowing your goals and dreams.
Cheers to your Next Phase!!!!