Bend Oregon has seen some of the fastest growth in the nation in the last few years. The real estate market has cooled down some now but there are still some opportunities out there for the smart investor. The days of buying a house, condo or land and then "flipping" it are over.
In my mind the good investments are going to be centered around the City of Bend's new Juniper Ridge development in North Bend. They are planning on a mixed use zoning and have already annexed 500 acres into the city limits. Most of this first phase will be light industrial (IL) zoning and research and Development. But the second phase will have a new four year college campus, some commercial and residential.
This land is all owned by the city of Bend but there are several hundred acres of private property around the development that are for sale now or will be on the market shortly. These are the properties that a smart investor can make some money on.
Most of this land is currently zoned for low density use. However, the city is in the process of rezoning most of this property and bringing it into the city limits. A new sewer main is proposed to border the south end of Juniper Ridge and run east to the sewer plant.
The city is supposed to make their proposed changes public on March 26, 2007. This is two years later than what was supposed to happen. So this date is not etched in stone. However, it should be made public soon.
The smart investor could be buying some of the surrounding property now and possibly doubling their money in a couple of years.