The U.S. Census Bureau reports that Deschutes County is the 60th fastest growing county in the United States. That goes to show what a great place this is to live. The Bend Bulletin recently reported that Deschutes County building permits were down over 50% from this time last year. This all points to the fact that now is the time to buy real estate in Bend.
More and more houses are coming on the market this spring. So there are going to be some good buys this summer. I'm betting that the market will bottom out this year and head back up next spring. Now is the time to pick up a good buy in this Buyer's Market
Thursday, March 22, 2007
Tuesday, March 6, 2007
Bend Oregon-A Great Place to Live
People keep moving to Bend because it's a great place to live. I went fishing at Lake Billy Chinook Sunday. It was over 60 degrees and beautiful. We saw one Golden Eagle and several Bald Eagles. The fish weren't bitting but it was a great day to be out.
Last month I had a nice retired couple from Colorado here looking at moving here. They are fly fisherman and I'm betting they will be living here next year. Yesterday I met a man from California and it looks like he will be moving here with his wife and 3 children.
Bend has so many different things to offer people will always want to move here. Here is a little virtual tour of Bend I put together. Enjoy!
Link to Bend Virtual Tour http://www.distinctivehometours.com/tour.asp?tour=BendOregon
Last month I had a nice retired couple from Colorado here looking at moving here. They are fly fisherman and I'm betting they will be living here next year. Yesterday I met a man from California and it looks like he will be moving here with his wife and 3 children.
Bend has so many different things to offer people will always want to move here. Here is a little virtual tour of Bend I put together. Enjoy!
Link to Bend Virtual Tour http://www.distinctivehometours.com/tour.asp?tour=BendOregon
Friday, March 2, 2007
Real Estate Statistics - Reading Between the Lines
The government statistics that came out yesterday prove one thing. Bend is one of the top real estate markets in the country. A closer look at the statistics shows a little different story. These statistics did include home refinances. My analysis showed that the median priced home that sold was up 19.8%, still an unbelievable number. That is calculated on a price per square foot basis.
I broke down the 4th quarter sales of 2005 vs. 2006 even further and found:
- 1% Homes over 3,000 square feet
+4.3% Homes under 1,350 square feet
+7.6% All New Homes sold
One thing that the government report also showed was that 21 of the 26 California markets had negative home appreciation. The California market is a leading indicator to the Bend real estate market. So you can look for our market to go down this year. I do think this summer will be the bottom but no one really knows.
The statistics don't show the "perks" that new home builders are giving with their new homes. Granite counter tops, hardwood floors, appliances and back yard landscaping are just a few. Some are giving away $25,000 cars or making your payments for six months. There are also many more finished new homes on the market now than there has been in the last few years.
Interest rates are low and I see this as a good time to be shopping around and finding a bargain!
Here's a link to a Virtual Tour of Bend:
http://www.distinctivehometours.com/tour.asp?tour=BendOregon
I broke down the 4th quarter sales of 2005 vs. 2006 even further and found:
- 1% Homes over 3,000 square feet
+4.3% Homes under 1,350 square feet
+7.6% All New Homes sold
One thing that the government report also showed was that 21 of the 26 California markets had negative home appreciation. The California market is a leading indicator to the Bend real estate market. So you can look for our market to go down this year. I do think this summer will be the bottom but no one really knows.
The statistics don't show the "perks" that new home builders are giving with their new homes. Granite counter tops, hardwood floors, appliances and back yard landscaping are just a few. Some are giving away $25,000 cars or making your payments for six months. There are also many more finished new homes on the market now than there has been in the last few years.
Interest rates are low and I see this as a good time to be shopping around and finding a bargain!
Here's a link to a Virtual Tour of Bend:
http://www.distinctivehometours.com/tour.asp?tour=BendOregon
Thursday, March 1, 2007
Bend Oregon Home Prices Increase
The Office of Federal Housing Enterprise Oversight (OFHEO) reported today that prices incresased in the fourth quarter of 2006.
Significant HPI Findings:
Highest and Lowest Appreciation:
1. The states with the greatest rates of appreciation between the fourth quarter of 2005 and the fourth quarter of 2006 were: Utah (17.6%), Wyoming (14.3%), Idaho (14.0%), Washington (13.7%), and Oregon (13.5%). The states with the lowest rates of appreciation for the same period were: Michigan (-0.4%), Massachusetts (0.5%), Ohio (1.0%), Indiana (2.3%), and Minnesota (2.5%).
2. The Metropolitan Statistical Areas (MSAs) with the greatest rates of appreciation between the fourth quarter of 2005 and the fourth quarter of 2006 were: Bend, Oregon (21.4 %), Wenatchee, Washington (20.9%), and Provo-Orem, Utah (19.9%). The MSAs with the lowest rates of appreciation for the same period were: Kokomo, Indiana (-5.3%), Santa Barbara-Santa Maria- Goleta, California (-4.2%), and Jackson, Michigan (-3.9%).
3. Of the 282 cities on OFHEO’s list of “ranked” MSAs, 256 had positive four-quarter appreciation, 25 had price declines, and prices were unchanged in one city.
Prices are now leveling off and there are some good buys in today's market.
www.bendoregonrealestateexpert.com
Significant HPI Findings:
Highest and Lowest Appreciation:
1. The states with the greatest rates of appreciation between the fourth quarter of 2005 and the fourth quarter of 2006 were: Utah (17.6%), Wyoming (14.3%), Idaho (14.0%), Washington (13.7%), and Oregon (13.5%). The states with the lowest rates of appreciation for the same period were: Michigan (-0.4%), Massachusetts (0.5%), Ohio (1.0%), Indiana (2.3%), and Minnesota (2.5%).
2. The Metropolitan Statistical Areas (MSAs) with the greatest rates of appreciation between the fourth quarter of 2005 and the fourth quarter of 2006 were: Bend, Oregon (21.4 %), Wenatchee, Washington (20.9%), and Provo-Orem, Utah (19.9%). The MSAs with the lowest rates of appreciation for the same period were: Kokomo, Indiana (-5.3%), Santa Barbara-Santa Maria- Goleta, California (-4.2%), and Jackson, Michigan (-3.9%).
3. Of the 282 cities on OFHEO’s list of “ranked” MSAs, 256 had positive four-quarter appreciation, 25 had price declines, and prices were unchanged in one city.
Prices are now leveling off and there are some good buys in today's market.
www.bendoregonrealestateexpert.com
Saturday, February 24, 2007
Bend Oregon Real Estate Investments
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.
Friday, February 23, 2007
Now is the Time to Buy
There are a lot of good buys on the market today! River front properties, new homes and used homes that people have to sell. Some sellers won't negotiate much but some will. Time to start writing offers.
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