Last week brought 52 new listings to Central Oregon for a total of 1271 active single-family homes available. The impact of the coronavirus is showing itself in the numbers with 82 homes sold this week, compared to 173 the same week in 2019. In response to most of our country quarantined, the Internal Revenue Service has extended the personal and business tax filing deadlines. In-person showings of homes have decreased significantly, but virtual showings have increased steadily over the last few weeks. The average sold price has declined with a more diverse home inventory available, and the Central Oregon housing market is revealing opportunities for both buyers and sellers that have not been available for years!
KTVZ News reported that Federal Stimulus checks to help residents of Central Oregon have started arriving. This stimulus money is coming in the nick of time for many small businesses as everyone is struggling to adapt to our current reality. A term that many have heard lately is forbearance related to mortgage payments. If you are considering this option, please be sure you understand the consequences! Forbearance is a short term delay of payments, due in full at a later date. Do not take any of these short term relief programs lightly! It is imperative that you understand what the consequences delayed payments bring. Please call Reed if you need help evaluating your options.
