It is officially Fall, our favorite time of year. The leaves are changing colors and football season is in full swing. Mark played football for THE Ohio State University back in the day so it is safe to say the Garcia family are big fans. We had our 5th game against an undefeated team this Saturday. It takes a lot of preparation to beat undefeated teams, just like how we approach helping our buyers and sellers in the current real estate environment. Reach out to us if you or anyone you know needs help buying or selling a home in Bend. We know how to tackle this market.
A strategy we do not recommend is waiting for interest rates to come down. Elevated mortgage rates are here to stay. We know this news is a bummer, but this is our new reality. Another rate hike by the Fed is definitely on the table for this year. Interest rates will remain higher for longer, and the yield on the 10-year treasury is expected to rise as well. Here is some perspective: today’s rates are still below the average of 7.7% since Freddie Mac started tracking mortgage rates in 1971. (Source: The Blueprint by James Harris and David Parnes) This sounds scary but not as scary as ghosts. Do you know about Bend Ghost Tours? And that the Pine Tavern is haunted? Learn more here from their website:
“Your Spirit Guide will lead you through the haunted streets and alleyways of Historic Downtown Bend where you’ll learn about the city’s many macabre tales, long-buried secrets and famous ghosts.You’ll meet the ghoulish Gretchen, a mischievous spirit with questionable intentions haunting Bend’s oldest restaurant. You’ll hear about the menacing ghosts trapped in the creepy basements of downtown. You’ll learn about The Lady in Green, a vengeful spirit roaming Bond Street, seeking justice. And if you’re lucky, you may just get a chance to speak with her too…Bend Ghost Tours tells the paranormal history of Downtown Bend and is perfect for ghost lovers, history buffs, and everyone in between. Our spine-tingling, historically accurate, and unique ghost tour is one of a kind!”
Do you know what else is scary? Rent increases and rent increase caps. The Oregon Office of Economic Analysis recently published the maximum allowable rent increase for Oregon in 2024 which is 10%. Click here for more details about SB 611.