A Tricky Balance
Growing an urban forest, while building needed housing
After a year-long collaborative effort from a diverse stakeholder group known as the Tree Regulation Update Advisory Committee (TRUAC), the Bend City Council adopted a new tree code in July that aims to protect more trees — especially large, mature trees — during development, without hindering the production of much-needed housing.
In the current real estate market, seller motivation continues to outpace that of buyers. Interest rates haven’t dropped quite enough to inspire buyer confidence just yet and there seems to be a lot of overall uncertainty with the larger economic/political climate as well. Sellers needing to move are feeling the pressure right now, as evidenced by the drop for average price points in Bend (-5.7%) and Redmond (-6.25%) this past month. While we’re accustomed to a seasonal slowdown, this year may be different. As rates gradually decrease, we may see buyers continue to hop back in, as well as continued price corrections and increased activity in the "off season," with sellers working hard to stay competitive in a buyer-thin market. For those ready to shop for a deal and negotiate great terms, right now is the time to act. Don't play the waiting game! - Greg
What's new with Mortgage Rates?
 | How the Federal Reserve’s Next Move Could Impact the Housing Market Wondering how the Federal Reserve's next move could affect your housing plans? Discover what their decisions mean for the future of the market. |
Market Snapshot
Comments