A recent discussion with one of the mortgage loan officers I work with revealed an interesting tidbit. The bank keeps tabs on the various real estate markets within each state and categorizes them in one of five levels. To arrive at those levels, the bank ranks each location based on three factors: (1) days on market; (2.) price stabilization; and (3) supply vs. demand.
In an area with the top-level rating, potential borrowers have at their disposal the maximum loan options that this bank offers. On the other hand, a region rated at the lower levels is considered a soft market and may have tighter loan parameters.
Turns out that our fair state has an overall good rating; and right now, Deschutes is the only county in Oregon that holds the highest-level rating. That’s good news for folks wanting to buy property in Bend, Sisters or Redmond.
It’s also yet another indication that our market is on the upswing.
About the Author
Lisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and Redmond.