Bend Weekly Community Forums

[DAllen]

Hi! I have been looking into the real estate market. Although prices have dropped, still anything I can afford is small and not the best, but not bad, neighborhoods.

I have read some predictions that prices will continue to drop. I have seen some proporties I liked, that didn't seem like such bad deals, but I don't want to buy a house only to watch it's value fall!!

Should I continue to wait or go for it now?

Opinions from anyone with experience in real estate would be greatly appreciated. Also any refererence to real estate agents working in the Bend/LaPine area and/or mortage brokers would be helpful as well!

Thanks!
DAllen.

[toocrazy]

Good day, your guess is as good as anyone’s including the real state agents. My opinion is just that, an opinion. The reason prices for homes have increased way beyond what is normal is the folks from (mainly California) and other areas of the country who made good profits on their home back where ever and now were willing to paid those crazy asking prices here. A sign….. The prices in California and else where are being reduced as we speak and in prime areas like Santa Barbara and San Francisco so if they don’t sell there, they won’t be buying here. Inventories are high here and will take sometime to be reduced and for that to happen prices will need to come down. What’s the economy in Bend and can it support these $500K and up homes & facilities? I don’t think so for there are only so many well-off individuals who want to move or invest in the Bend area. The cycles tend to be in five year increments and this is the second year of the down turn in residential market so by the summer of 2007 there should start be good opportunities to purchase at reasonable prices.