We remember and honor those who gave all.
Found 28 blog entries for May 2021.
We remember and honor those who gave all.
There’s a lot of discussion about affordability as home prices continue to appreciate rapidly. Even though the most recent index on affordability from the National Association of Realtors (NAR) shows homes are more affordable today than the historical average, some still have concerns about whether or not it’s truly affordable to buy a home right now.
When addressing this topic, there are various measures of affordability to consider. However, very few of the indexes compare the affordability of owning a home to renting one. In a paper just published by the Urban Institute, Homeownership Is Affordable Housing, author Mike Loftin examines whether it’s more affordable to buy or rent. Here are some of the highlights included.
The last year has put emphasis on the importance of one’s home. As a result, some renters are making the jump into homeownership while some homeowners are re-evaluating their current house and considering a move to one that better fits their current lifestyle. Understanding how housing affordability works and the main market factors that impact it may help those who are ready to buy a home narrow down the optimal window of time in which to make a purchase.
There are three main factors that go into determining how affordable homes are for buyers:
The National Association of Realtors (NAR) produces a Housing Affordability Index. It takes these three…
We have reported how Bend Oregon home prices have risen over the past year, but we haven't looked exclusively at the trends for Bend Luxury homes. The demand for Bend's high end homes has escalated over the past year with the number of closed sales up over 100% in all the price categories we follow.* For homes over $2,000,000, the price per square foot is now over $600. The months of supply for million dollar Bend homes is roughly four, a seller's market, and the median days on market is 11. Luxury homes listings are receiving their asking price on average 99.9% of the time. Multiple offers and bidding wars are normal for many Bend luxury homes when they hit the MLS hot…
Over the weekend, we had the pleasure of trying out one of Bend's newest restaurants, overlooking Bend's iconic Mirror Pond. This restaurant was not only a flavor explosion, it also had a wonderful ambiance and some of the most friendly and helpful staff we have encountered. Sen Thai Noodles and Hot Pot checked all the boxes for us for a great experience and wonderful lunch.
We truly were able to travel back to Thailand by tasting the owners' renditions of classic Thai noodle and street dishes. Their goal is to bring their family's favorite Thai food vendors here and put their own contemporary twist on them. We think they did a fantastic job!
Be sure to show up early! We were one of three groups waiting to dine right at 11am, but the groups of…
As we enter the middle of 2021, many are wondering if we’ll see big changes in the housing market during the second half of this year. Here’s a look at what some experts have to say about key factors that will drive the industry and the economy forward in the months to come.
“. . . homes continue to sell quickly in what’s normally the fastest-moving time of the year. This is in contrast with 2020 when homes sold slower in the spring and fastest in September and October. While we expect fall to be competitive, this year’s seasonal pattern is likely to be more normal, with homes selling fastest from roughly now until mid-summer.”
“Sellers who have been hesitant to list homes…
Today’s Bend housing market is full of unprecedented opportunities. High buyer demand paired with record-low housing inventory is creating the ultimate sellers’ market, which means it’s a fantastic time to sell your house. However, that doesn’t mean sellers are guaranteed success no matter what. There are still some key things to know so you can avoid costly mistakes and win big when you make a move.
When inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask when setting a listing price. Believe it or not, that’s not always true. Even in a sellers’ market, listing your house for the right price will maximize the number of buyers that see your house. This creates…
The level of equity homeowners have is at an all-time high. According to the U.S. Census, over 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too. Every time real estate values increase, homeowners get a dollar-for-dollar gain in their home equity.
According to the first-quarter 2021 U.S. Home Equity Report from ATTOM Data Solutions:
“17.8 million residential properties in the United States were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.
The count of equity-rich properties in the first quarter of 2021 represented 31.9…
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