Deschutes Riverwoods has lengthy been a Bend subdivision desired by these having fun with its proximity to town (it abuts Bend’s southern boundary), however the freedom of huge tons with out House owner’s Associations or CC&Rs. Properties there vary from single large manufactured to luxurious properties overlooking the Deschutes River. Additionally it is a neighborhood in transition with increasingly of the older cell properties being changed over time with stick-built single household.
House costs have dropped in Deschutes Riverwoods over the previous twelve months compared to the earlier yr. This could possibly be as a result of kind of house being bought, or a common total discount in house costs as house sellers regulate their asking greenback to accommodate larger mortgage rates of interest. Deschutes Riverwoods has lengthy been a popular subdivision for first time homebuyers, and the shopping for energy of most preliminary homebuyers has been vastly impacted with mortgage rates of interest approaching 8%.
The Variety of Properties for Sale and Bought in Deschutes Riverwoods Lowering
There was a greater than 60% drop in new listings in Deschutes Riverwoods over the previous twelve months. Householders with nice rates of interest are usually not promoting, regardless of vital demand. Why promote and quit a 3% financed mortgage to switch it with 8%?
Tied in with new listings are properties bought. These are down 61.5% over the previous yr. And till such time that Deschutes Riverwoods house sellers see worth in transferring, we predict restricted listings and restricted gross sales will proceed.
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