Ahhhh, the long-forgotten days of old where we had clients that wrote offers, reasonable offers. And the days where the sellers of a home were actually the owners of that home, and there were no lenders involved that were making decisions as to whether to take the offer and thus complicate the process. And complicate the process. And further complicate the process.
And so it goes with Bend real estate. Have we reached the bottom of the market? Maybe we will have a better idea if and when buyer incentives such as first-time homeowner and move-up buyers are gone and we can see if the flurry of activity in the market is temporary or permanent. I do know that now every time there is a decent price on a decent home in a good location there are multiple offers. Often as many as three or four on one home. This is reminiscent of 2005, and that is NOT a good thing! It frustrates buyers, confuses sellers and adds stress to everyone's lives -- certainly to brokers.
We do have less inventory of homes. There are excellent buys in homes that are bank owned and many that are not bank owned. As a matter of fact, some of the best buys do not involve banks. And ranches seem to be a particularly good buy at present. Give me a call or email me. We can chat about your next great deal. And there are fabulous buys in all price ranges from the low $100,000 range to over a million. Many million dollar properties are selling for a fraction of their former values. Who was it who said, "May you live in interesting time?" I think we are there.