Northwest Crossing Is Booming

Northwest Crossing in Bend Oregon is a booming neighborhood.  A lottery for the NorthWest Crossing Phases 20 – 22 was in September with 42 of 52 lots available selected by 19 NWX Guild Builders that participated in the lottery. These are the last residential lots on the east side of Mt. Washington Drive. As a result, West Bend Property is currently seeking land use approval for a 175 lot tentative plan west of Mt. Washington Drive referred to as the Discovery Park area. Prior to any subdivision construction, major grading and compaction earthwork will be taking place.

Part of the new development is a 32 acre park which includes a 12 acre parcel that will be developed and will include a 3 acre pond.  The city of Bend Park and Recreation will eventually take over the park once it is developed.  This new neighborhood  will surely prove to be as attractive to buyers as the rest of Northwest Crossing has been.

West Bend Property LLC anticipates completing the earthwork and the first phase of residential lots (Phase 24) in spring/summer 2014. Phase 24 will include 53 lots varying in size from 4,500 square feet to over 9,000 square feet.

Stay tuned for more progress report for Northwest Crossing.

Distressed Home Sales Fall in Bend

Bend Oregon bank foreclosures and short sales (distressed sales) dropped to a 4 year low for the first half of 2012.  However, they still represented 43% of the total sales.  Bank foreclosures are falling rapidly as more and more banks are allowing short sales.  Short sales can still be a can of worms but if you have an expert broker working for you they are workable.

It's the first time since 2008 that distressed sale in Bend have dropped below 50 percent for the first six months of the year.  It looks like prices are starting to stabilize in the over all Bend real estate market.  While some neighborhoods continue to fall in price some are now rising.

A recent analysis I performed showed homes in the very popular Northwest Crossing neighborhood rose 4% in the price per square foot while the average size of the homes sold fell.  Median price is used a lot my statisticians but it can sometimes be conceiving. The huge homes of the past are not as popular as they used to be.  Plus, smaller homes usually sell for more money per square foot. 

A market analysis I did for a client yesterday on The Parks at Broken Top showed there were only 3 homes currently for sale in that neighborhood and there were 5 pending sales.  There had been 17 homes sold within the last year in the Parks.

We looked at a very nice home Friday and my client was considering making an offer.  It had been on the market 7 days.  In checking with the listing agent I found it had two offers on it of which one was accepted.  It sold the first week.  We are currently seeing multiple offers on homes that are priced well.

If you are interested in foreclosures or short sales click on the following link and you can search the Bend Oregon Multiple Listing Service.  or visit our web site for more information.  Bend Oregon Real Estate Expert.