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REAL ESTATE NEWS | JAN 2025

REAL ESTATE NEWS | JAN 2025

 
We made it through January: Out with the old and in with the New! 2024 was the lowest year of real estate sales since 1995 (CNN article) but December sales were 2% higher than November... and I believe it will continue to climb throughout this year. The Bend market charts show the fairly steady median price but with a decline in the number of sales since 2022 as we all know by now. Presidential vows to lower interest rates won't necessarily relate to mortgage interest rates, but read below how a privatization of "Fannie & Freddie" likely will. Check out our axe throwing event, featured properties, upcoming things to do in February and more.
Bend's Real Estate Market Update
Bend’s median sale price for single-family homes is $717,000, signaling a stable environment for both buyers and sellers. Over the past year, 1,582 homes were sold, and with 319 current listings, the inventory stands at 2.5 months—a sign of balance, though competition remains.
 
The luxury market above $1 million has seen growing inventory, providing broader opportunities for high-end buyers. These trends highlight Bend’s diverse market dynamics, catering to a range of buyers while maintaining steady activity across price points.
An IPO for Fannie & Freddie?
And what are they exactly?
Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation) were founded in 1938 & 1970 to make mortgages more affordable to middle- and low-income Americans and now guarantee 70% of all U.S. mortgages. Essentially, they buy mortgages from banks and secure them for a fee. But they took on overly risky ventures and almost failed in 2007-08, so the government bailed them out with billions of funds. Now all profits have to go to the Fed and a small percentage of private investors. Admittedly that was super simplified for the sake of this newsletter!
 
Recently, their shares rose 173% as speculation grows over privatization under the new administration.
 
Hedge fund investor Bill Ackman predicts privatization could generate $300 billion for the government and reduce federal oversight. However, critics warn removing government backing could increase mortgage rates by up to $2,800 annually, as Moody’s Chief Economist Mark Zandi estimates. Without explicit guarantees, Fannie and Freddie's securities would be riskier, driving costs higher for banks and, ultimately, homebuyers.
 
I'm sure there will be much debate in the year to come. Read more in Barron's and Morning Brew.
 
Mortgage Rates Surge Past 7% (darn)
Mortgage rates have climbed to their highest levels in decades, with Freddie Mac reporting the 30-year fixed-rate average at 7.04%, from a 30-year rates averaged 6.6% last year, and the 15-year fixed-rate now at 6.72% from 5.76% last year. This rise, driven by Treasury yield increases, is impacting affordability and buyer sentiment. Despite this, demand persists as homebuyers adapt to the evolving market dynamics. Experts suggest these rates may cool slightly as inflation stabilizes but caution against expecting drastic declines in the near future.
 
For a deeper dive into these trends, check out the full report on NAR’s website.
Avenir Events
Axe Throwing this Thursday!
 
Bring friends or family & come have some fun!
 
Bend Axe will be on site to ensure a memorable, fun & safe experience. Grab a local microbrew or other drink and take a tour of this luxury estate at 21450 Dale Road.
 
RSVP on the Facebook event by clicking the image or email me here.
 
 
Property Spotlight: 55833 Lost Rider Loop in River Meadows
A perfect primary residence or vacation getaway, this immaculate single level home near Sunriver offers the tranquility of nature without the crowds. Nestled on almost half an acre, I especially love the back deck setting, and my favorite features inside the home are the vaulted ceilings, open floor plan & lovely primary suite. Enjoy the ultimate Oregon lifestyle in River Meadows with a community boat ramp, 3 miles of paved trails, a swimming pool, clubhouse, and tennis and pickleball courts. Offered at $695,000. See all photos & more details here!
Neighborhood Spotlight: Tetherow
Discover the elegance of Tetherow, one of Bend’s most prestigious communities. With stunning mountain views and a world-class links style golf course designed by David McLay Kidd, Tetherow offers a townhomes, cabins, and luxury custom homes, restaurants, pools, a gorgeous sports center, and direct trail access. Perfect for those who crave both sophistication and adventure, this neighborhood blends resort-style living with the natural beauty of Central Oregon. Whether you’re a golfer, love social events, biking or hiking, or simply enjoy the views, Tetherow is the ideal place to call home!
 
Visit www.AvenirRealtyGroup.com to see more neighborhoods we love. What others would you like to see?
Local News
Why Bend makes the best home base for Mt. Bachelor
Congratulations! All your snow dancing worked, and Mt. Bachelor is now in full swing, boasting some of the best snowpack conditions in North America.
The best things to do in Bend for February
Frosty pine trees? Check. Heaps of snow on the mountains? Check. Hearts and flowers in the windows of Bend’s shops? Check, check, and lookie here…it’s almost February in Bend!
Younger generations are more likely to pursue home renovations this year
A survey by This Old House found that 48% of homeowners will pursue home renovations in 2025 —...
Average mortgage rate tops 7% for first time since May
The Fed is tapping the brakes on interest rate cuts because inflation remains stubbornly high. That's pushed mortgage rates higher.
Avenir Realty's Latest Real Estate Activity
LB: Laura Blossey, FW: Frank Wood
AC: Angie Cox, AW: Amanda Wrenn,
TE: Traci Engel HB: Heather Blaine
SS: Stephen Saunders.
 
LOOKING FOR YOUR NEXT HOME?
Customize your own search here:
Active (LB)
$3,495,000
Price Reduced!
Active (LB)
$2, 770,000
Active (LB & TE)
$1,795,000
Active (AC)
$1,350,000
Active (LB)
$1,195,000
Price Reduced!
Active (AC & LB)
$695,000
Active (LB)
$649,000
Just Listed!
Active (FW & LB)
$649,000
Coming Soon!
Lorenzo Drive
$619,000 (LB)
Active (AC)
$315,000
Active (FW)
$315,000
Active (FW)
$309,000
SOLD (LB)
$1,999,999
Contemporary on Acreage
COMING SOON (LB)
$1,700,000
Pending (SS)
$290,000
SOLD (LB)
$645,000
SOLD (LB)
$575,000
Laura Blossey
Founder and Principal Broker
 
949-887-4377
Lic# 201204340
All information deemed reliable but not guaranteed. If your property is listed with a real estate broker, this is not a solicitation of brokerage services. Laura Blossey, License 201204340, Avenir Realty.
 
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1051 NW Bond St., #410
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