Price points are attracting ot of town/state buyers but our economy (or lack thereof) has been backed by tourism and sevices for many years - both low paying. Without a real economy, expect near term improvements to be just temporary.
Try this tool for finding properties and tracking trends:
Get in the Game Ken. This is the time to be in the market.
That is my advice.
Re/Max Hall of Fame
Susan Agli, Broker, SRES, ALHS
Coldwell Banker Morris Real Estate
Licensed in the State of Oregon
Serious About Real Estate. Serious About You.
I have to agree with Rick. I've been working with a couple for over a year now that wants about 20 acres with irrigation and a Cascade view close to Bend. We've seen a lot of great properties but my clients perceive the prices to be really high compared to what they're hearing about the rest of the market. They're reluctant to make an offer because they keep thinking prices will come down but in the year we've been working together, they haven't come down much. I must say though, with very few acreage properties selling and lots of them on the market, prices will have to come down a bit more to really entice buyers to pull the trigger. I think the high prices are also partly because there haven't been many sales so list prices are arbitrary in some areas.
If there is one market that weathers the real estate rollercoaster the best here in Central Oregon it is horse/animal properties. The true developed horse properties, not the 8 fenced acres with a loafing shed. Properties with a solid amount of irrigation, 50% or more of the total acreage, seem to still maintain value. The value of the irrigation rights alone have soared while land values have fallen. Water rights are like gold and will only continue to increase in value. Right now has been the best time to secure horse property, in my opinion, because it is at the lowest it will be. I have seen some high end horse setups fall as much as 50%. There have been some 10 acre parcels with a very nice home, barns, hay storage, tackrooms, cross-fenced, pond, and mountain views sell for $400K-$600K. If you ever want a list of current and sold listings emailed to you so you can analyze the data yourself, just send me an email. I will be happy to send you a reverse CMA to help you see what the market is doing. email@example.com or 541-419-3999.