Where Do I Start Looking To Buy A Home In Bend?

Bend Oregon Home For Sale

BEND – Home buying can sometimes be a mix of excitement and frustration because, you know that it’s the right decision that you want to make for yourself and your family but you don’t know where to get started.

In this post were going to cover steps to that you should take so you can find a home for sale in Bend and save the time, money plus hassle of having to do everything yourself.

Step 1 – Find a Realtor

The first step towards finding a home in Bend that’s for sale is hiring a Real Estate Agent. You will want to work with a Realtor because; he or she will have access to the Multiple Listing Service (MLS) as well as a variety of other contacts to help you find the home that’s perfect for you.

Step 2 – What “Exactly” Are You Looking For?

Every home buyer knows what they want in a home and also what they are willing to settle for. Before you start your home search you should come up with your list of what you want and what you and your family is willing to settle for because, this approach will help you to stay clear during your home search especially if you find a home that could be great after you do some remodeling work to it.

Step 3 – Get Prequalified For a Mortgage Loan

Another important thing that you need to do before searching for a Bend Oregon Home is to get pre-qualified for a mortgage loan because, pre-qualification means that you will know what homes you can really afford and not face the disappointment of finding the right home only to realize later that it’s out of your price range.

For more tips on the home buying process in Bend, or to view the latest homes for sale in the area, contact me today at (541) 383-1426.

Freddie Mac and Fannie Mae News

jason boone bend oregon realtor

 

This summer when the Federal Government announced that they were no longer going to buy mortgage backed securities that shot up mortgage interest rates and sent the Real Estate market into a temporary state of shock until the Fed backed off on their plans.

Last week the Federal Government announced that Freddie Mac and Fannie Mae loan limits are not going to be reduced for at least another six months and that any reduction that the Fed makes in loan limits won’t occur until they announce it at least six months in advance, so the Real Estate and financial markets will have at least six months to prepare.

Badly Needed

Everyone knows that the only real way the Bend Oregon Real Estate, and Nationwide Real Estate can truly recover is if the Federal Government begins to wean itself from involvement with Fannie Mae and Freddie Mac, but the Federal Housing Finance Agency (FHFA) also knows that it’s not something that cannot be done overnight, especially if the Government wants to avoid any economic disruption like the disruption that occurred this summer.

Proceeding with Caution

Edward DeMarco, the Acting Director of the Federal Housing Finance Agency said “While it will get more time to prepare for any changes, a decision on whether to lower the limits, and by how much, would still be made in late November”.

As of October 2013 Fannie Mae and Freddie Mac can’t back loans greater than $417,000 across the United States although in some markets they can back loans as high as $625,500, especially in wealthier parts of the United States like: Hawaii, California, New York and Washington DC.

Mixed Reaction

Since mid-2008 when the mortgage caps were raised, to keep our mortgage market going across the United States, more people were able to own a piece of the Bend Oregon Real Estate Market and a larger number of Americans than in the last 40 years have been able to buy homes because, mortgage interest rates and home values have been so affordable but once the caps are lowered many investors and economists in the USA are concerned that some homebuyers will be pushed out of the Real Estate market since rising mortgage costs might make it unaffordable for many home buyers to buy homes.

What are your thoughts on this news? Feel free to leave me a comment below.

For more information on what to expect in the Bend Oregon Real Estate market in the next 12 months or to view the latest Bend Oregon homes for sale, contact me today by calling (541) 383-1426.

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