The Bend Oregon Real Estate Market has made the top of yet another list. US News & World Report recently ranked the Bend, OR Real Estate Market as the #1 place to purchase Retirement Property. Retirement property in Bend is not just a deal, it's a steal! US News & World Report obtained price-to-income data for 384 metropolitan statistical areas from Moody's Analytics and used this to express housing affordability.
According to the article, "By comparing a market's most recent price-to-income ratio with its longer-term averages, we can pinpoint areas that have become particularly affordable."
Listed as #1 in the country for Retirement Steals - here's what US News & World Report has to say about Bend.
Bend, Ore.: Stiff demand from second-home buyers helped nearly double median home prices in lovely Bend, Ore., between 1999 and 2006. But the subsequent real estate collapse has dragged the area's price-to-income ratio from 3.4 in the third quarter of 2006 to 1.7 in the fourth quarter of 2009. That's below Bend's average price-to-income ratio of 2 for the 15 years ending in 2003. This increased affordability makes retirement property in Bend particularly attractive today, says Lester Friedman, president-elect of the Central Oregon Association of Realtors. "Central Oregon has always been a place where people came to get away," Friedman says. "And, of course, that is kind of the definition of retirement." Friedman points to a number of activities that can keep seniors busy in Bend year round, including hiking, mountain biking, skiing, fishing, boating, and volunteering. "We have wonderful college facilities, so continuing education is easy," he says. "You name it, we've got it."
Bend has recently been listed on the top of the list for unemployment, retirement deals, declining home prices, etc., etc. To sum it up if you're buying a home in Bend prices are GREAT! If you're selling a home in Bend, be ready for a tough road unless you have wiggle room. I personally am a fan of this list, hopefully it will remind folks retiring that they can get a great deal on a home for sale in Bend. People retiring to Bend may not need jobs but they may need services, food, and fun! So, come on Retire in Bend, you'll love it here!
For more information on Bend, Oregon Real Estate and great Retirement homes for sale contact Kryste Adams with Taft Dire.