Some new homes are put under contract before the foundation is poured

This can leave 6 to 12 months before the home is completed and closed. All statistics from the MLS are based on the “Sold” date. Therefore these statistics are skewed. The sale is not reflected properly.

Prices are actually coming down this fall and probably will continue through the winter as the inventory continues to build. It is taking longer for homes to sell and there are more homes for buyers to choose from.

The real estate markets in California, Arizona, Florida and other key states are leading indicators on how the market in Bend will do. In1989 real estate values in Bend jumped 35%. Out of state buyers from California, Florida, Arizona, Washington State and other hot markets were selling their homes for large profits and moving to Bend to buy larger homes. 1990 and 1991 saw the out of state markets dry up with prices falling. The Bend market followed these markets before it picked up again.

This winter is the time to buy real estate in Bend. There are homes on the market now that have been substantially reduced with seller’s willing to take any reasonable offer. Some homes are vacant and can be bought with a lease-purchase. We look for the market and prices to pick back up next spring.

A report recently released by the Federal Deposit Insurance Corp., or FDIC reported that Bend is the 35th fastest growing job market in the country for the second quarter of 2006, wit a job growth rate of 4 percent during that period. The FDIC reported sales activity in Oregon fell 12 percent in the same quarter.

Building permits for single family homes have been constantly falling but the pace of building takes a while to slow down from the torrid pace of 2005. Builders have to develop the lots, get permits and start the construction. Construction of the average homes takes about six months. There are still new homes coming on the market today that were in the planning stages in 2005.

Some builders are also starting to offer more incentives if you buy one of their homes. Upgrades in appliances, floor coverings, wood work, landscaping and other aspects of construction are now free. Some builders are also willing to pay points in order to help buyers qualify for lower payments on their loans.

The National Association of Realtor’s chief economist, David Lereah, predicted that sales through the rest of 2006 will be lower than earlier predicted. “This year, sales are slowing, homes are plentiful and sellers are negotiating,” Lereah said. “Under these conditions, we will probably see prices dip temporarily below year-ago levels as the market works through a buildup in housing inventory.”

The Central Oregon Association of Realtors is the best place to track the home sale statistics in Bend and Central Oregon. You can find these statistics on their web site. Keep in mind that these statistics include many new homes that were put in escrow months before the official closing date.

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Myrtle Beach's primary business sector revolves around tourism and visiting

Myrtle point real estate has a median family income of around, and has had stable home prices for the last three years, with most homes on the market running around or so, and new construction homes or so. While Myrtle Beach wasn't immune to the credit crunch of 2007, and the resulting flattening of the US housing market, it was insulated by the strong local economy (much the same way Las Vegas was). While Myrtle Beach's properties didn't decline in price as rapidly as several other parts of the country have, they did drop a small amount.

Myrtle Beach's primary business sector revolves around tourism and visiting, with a secondary sector built around high tech (mostly programming) businesses. With an average tourist influx of over 12 million visitors per year (most of them in the spring through fall), there's been a building boom, both for people wanting to provide rental condos and time shares to visitors, and for people looking to buy summer homes. A side effect of this housing boom is that existing properties are appreciating in value, particularly as the community grows its own professional economy.

So, what's the investment strategy for buying at this point in time? Like any investor, you're looking to maximize your rate of return. Myrtle Beach's strong local economy means that any building built here or bought here has a solid return on investment. Conventional wisdom says to batten down the hatches during a recession, and focus on savings and keeping your assets liquid. However, with current trends in banking, the weak dollar, and the specter of inflation, a solidly diversified portfolio should contain several real estate investments, or investments in tangibles. Here's why:

For the first, nationwide, real estate prices are down; there are foreclosure properties on the market that are further driving down real estate prices. While foreclosure rates are higher than normal, they're much lower than was initially expected when the housing bubble burst. What this means is that picking real estate, in the right markets, can give you significant rates of return as the economy eventually recovers.

In Myrtle Beach, there are several indicators that properties purchased there will appreciate in value. The first is the demographic growth rate - Myrtle Beach is growing by almost 6% per year. That growth rate means that several types of real estate are worth investing in, from second homes to office complexes, as the economy diversifies from its current tourism-driven base.

Myrtle Beach's other tangibles are its quality of life - it consistently ranks in the top five among surveys of the best communities to live in for the United States - and its solid tax base, which keeps city infrastructure expanding and well maintained. 

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