Sisters differs from many markets in that it is, to a large degree, a destination town. As a consequence, it is not as immediately subject to a number of the prevailing conditions which have affected other areas around the country.
However, we have seen a dramatic increase in short sales and foreclosures over the last six to twelve months; and by all indications this looks to be the trend for the foreseeable future.
To date, the affected properties have tended to be single family, primary residences, but we are beginning to see strategic defaults of secondary homes.
Because of its desirability, Sisters is likely to be among the first markets to rebound as the economy recovers. This, along with current prices and low interest rates may be enough to persuade buyers to our charming little town.
Company: Sisters Hometown Realty
Phone: 541-588-0038
Email: zenzat at aol dot com
