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January Real Estate Forecast shows an energetic start to the 2018 Central Oregon Real Estate Market

The beginning of 2018 showed a robust start to the year in real estate. January was a highly active month, with a higher number of active listings, a higher number of completed sales, a higher number of pending sales compared to January 2017, all  expected to close in February. All indications point to a strong spring in Bend.

Extremely Strong Seller’s Market

The number of active listings increased this January compared to 2017, going from 355 to 409. Central Oregon is currently experiencing a strong seller’s market, with anticipated inventory increasing in time for Spring Selling trends. Now is a great time for property owners to list their homes in order to have less spring competition by other home sellers entering the market.

High Pending Sales

January was an exceptionally strong month for pending listings with 207 this January vs. January 2017 with 185 pending. With the number of pending listings in January sky rocketing compared to the last few years, it’s fair to expect a chart topping spring season. We expect these pending sales to complete in February, making February sold properties higher than previously anticipated. It shows that now is a great time to buy and that the Central Oregon Real Estate Market is still thriving through the winter months.

Average Completed Sales

Given the mild winter weather we’ve experienced this January, a higher number of completed sales is to be expected with more buyers enticed to get out and about checking out neighborhoods, new construction, locations, etc. Considering the high number of pending sales, the number of sold properties for the month of January was expected to be higher due to shoppers grabbing onto spring season thoughts earlier in the New Year.

Final Analysis

The Central Oregon Real Estate market is expected to see a lot of traffic in the coming warmer months, as the Bend area is still experiencing energetic interest. We’re predicting that fewer priced reductions will take place, as the low number of listings encourages more competition per property, and negates the need to price more competitively. With a strong seller’s market, now is the time to get a property listed. Learn about what we can do to help you with buying or selling real estate by visiting dukewarner.com, browsing our Facebook page, or calling us at (541) 382-8262.

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Keeping Organized Even When Searching For a New Home

When you are house searching, you will be overwhelmed with all of the information that the house seller and the realtor will provide to you. After you have seen multiple houses in one week, you can start to get confused on which house had the marble backsplash in the kitchen or the spa jets in the bathroom. In addition, you have to deal with getting all your pre-approval paperwork in order, house appraisal documents, and house listings you may have printed out the night before. Here are several tips to help you stay organized while looking at properties. 

Keeping Properties Straight After the Visit 

Are you the type of person that forgets what a property had after visiting it, or confusing one property for the next? One way to remember all the details in each house is to have a list that has the properties address on the top. This list will have all the things you are looking for in a home, and allow you to write down additional things that you loved or hated about the property. Then you can place a checkmark if the property meets your preferences. It is also ideal to take photos of the house regarding certain features. 

Creating a Filing System 

When you get home after visiting a house, you can place all the information you have for that property in a folder so you can later compare the house against other properties to narrow down your choices. Make a filing system to hold your photos and any brochures or additional information you may obtain from realtors. Then you can easily pull out the information and narrow down your house buying choices. In addition, you can make a spreadsheet or comparison chart where you can place in the property information to make it easier to see which houses met your preferences, and which ones fell short. 

Keep a Calendar for House Showings 

With the number of house showings that can pop up in a week, you can begin to lose track of which open house dates are nearing. Either use a paper calendar, or an online calendar, to track upcoming house showing dates so you don’t overbook your schedule where you are looking at several houses on one day. 

Looking at houses shouldn’t be a stressful or disorganized experience. Use the following tips to keep a better track of the houses you have seen, and the ones you will look at soon so you can find the perfect property for your needs. 

Call your Bend Oregon Realtor today.