Bend Oregon Real Estate Newsletters- GoBend.com

Interest Rates Remain Low

In Freddie Mac's Primary Mortgage Market Survey 30-year fixed-rate mortgage (FRM) averaged 5.66 percent, with an average 0.6 points, for the week ending January 27, 2005. Last year at this time, the 30-year FRM averaged 5.68 percent. "Until the market gets a better read of how the economy performed at the end of last year and how the Fed interprets that information, interest rates will likely remain calm," said Frank Nothaft, Freddie Mac vice president and chief economist.
"Further, the Fed will release its

Mortgage Rates

Source: Realty Times

U.S. averages as of January 27, 2004:

30 yr. fixed:   5.66%
15 yr. fixed:   5.14%
1 yr. adj:        5.02%

policy statement next month, giving financial markets a better sense of what future actions the Fed may be contemplating. All of this will help determine where mortgage rates will be in the near future."

Existing-Home Sales
Set 2004 Record

Existing single-family home sales surged in 2004, well above the previous record set in 2003, while the December pace declined from a monthly record in November, according to the National Association of Realtors®.
There were a total of 6,675,000 existing-home sales in 2004, up 9.4 percent from 6,100,000 in 2003. This is the fourth consecutive annual record; NAR began tracking the sales series in 1968. David Lereah, NAR's chief economist, says there is no sign of a downturn. "Home sales will continue at historically high levels, and 2005 is expected to be the second-best year on record for the housing market."

Waiting For The
'Dream Home'

    In most states, attractive special deals are available for first-time homebuyers. Especially in those parts of the country where prices are rising, it's just as well to get in immediately.
     These days it's prudent for many people to buy whatever you can comfortably afford right now. There's no need to wait.
     Singles, single parents, unmarried couples make up a substantial part of the homebuying public these days. Take advantage of today's remarkably low mortgage interest rates, move in, start getting the income tax advantages of home ownership, and then save up for your dream house.

How To Get The Edge When Selling This Spring

    If you're getting ready to sell now as the busy homebuying season gets ready to kick into full gear, you should take extra time to get your house into tip-top shape -- and be mindful when it comes to setting a price.
     How you develop your selling strategy will depend on the market in your area.
     In some regions, there are more sellers than buyers, meaning you'll really need to make your house stand out from the rest.
     Some ways to do that include:

Make any necessary structural repairs. You may want to consider hiring a professional inspector to give the house a once-over before you put it on the market.

Check out your shingles, make sure there aren't any loose ones.

Repair and paint your gutters.

Shampoo your carpets.

Repaint. Keep colors neutral.

Clear out the clutter. Let buyers see the kitchen countertops. Have closets just half full so they look larger, clean out the garage, get rid of the knickknacks. And if you have a lot of furniture, put some of it in storage. Less furniture will make the room appear larger.

Make a great first impression. A potential buyer's first impression is what is known as curb appeal. Keep the lawn mowed, trim the bushes, clean the front windows, and other debris near the front door.

Equal Housing
Opportunity

Terry Denoux, P.C. Broker
Cellular: (541) 350-2921
Web: http://www.gobend.com
E-mail: terryd@gobend.com

RE/MAX Equity Group
235 SE Wilson Ave.
Bend, OR 97702

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