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    Looking Ahead: What’s Next for the Central Oregon Housing Market?

    How will the impending end to the Foreclosure Moratorium affect the Central Oregon Housing Market?

    First things first, the moratorium bill appears to have the ability to be extended through the end of the year, and Governor Brown has already extended it through September. So, by impending, we mean, eventually, it has to end…

    … but what happens when it does?

    The affects of this last year will most likely produce an eventual influx of traditionally listed homes (homeowners wanting to sell a rental or take advantage of the current high prices). It will also inevitably produce more foreclosures than usual, most likely slowly dripped into the market. I say slowly dripped as it takes time to do this, no two situations are exactly alike. For instance, many lenders are trying to do all they can to avoid foreclosures, many tenants/owners have not missed payments, some landlords and tenants will work out missed payments, and other landlords will evict and re-rent. There are many different options here and only one of them points to a distressed property hitting the market.

    My opinion is that slowly over the next 2 years, some of these homes will enter the market to be sold in various ways. It will most likely not be a sudden influx and will be (although a difficult experience for struggling tenants/owners) a good thing for the health of the real estate market, as it will help to balance our inventory with our demand. 

    If you have any questions or would like to chat about your real estate needs, please give us a call at 541-312-9449. We’d love to help!

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