Bend, OR Real Estate News

By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Luxury Home Buyers Have Found Bend Oregon We have been tracking Bend real estate sales for decades, but the summer of 2020 has provided for high end home sales that have never been seen before in the Bend market. High end homes have been part of Bend real estate since the early part of last century when the Shevlin-Hixon and Brooks-Scanlon lumber mills opened and logging became the main industry within the town. The land near Mirror Pond and Drake Park became the location where some of Bend's earliest luxury homes were built. Over the years, as various sections of Bend were developed, the luxury market expanded into Pilot Butte, Awbrey Butte, and the various golf communities in town such as Awbrey Glen, Broken Top, Pronghorn and Tetherow. However, as these communities were developed, wh...
Comments 2
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Sales in July AmazingWe have been involved with Central Oregon real estate sales since 2000, and despite the boom and bust years, 2020 has proven, year to date, to be among the most phenomenal years we have ever seen - with July the pinnacle so far.Ask any Bend real estate agent what is the situation with Bend home sales and they will tell you there is a severe lack of inventory. Many listings receive multiple offers, pushing the price up and discouraging buyers who lose out. Cash buyers have an upper hand, especially as prices reach a place where there is doubt the property will appraise. We are seeing new listings hitting the market at prices which just 6 months ago would have been unheard of. And we are surprised to see many of these homes selling even beyond that inflated ...
Comments 7
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Ever since coming out from the housing recession, the value of Bend single family homes on less than an acre has increased. From an average sales price of $230,000 in spring of 2011, Bend home values have gone up to exceed $547,000 June 2020.  During the same time, the months of inventory have dropped from 13.3 months to less than 2 and the price per square foot has risen from $113 to $268. From a low of two $1,000,000 plus Bend homes on less than an acre selling in all of 2010, June 2020 alone saw 23 sold.* Bend Premier Real Estate brokers are currently working with many million dollar buyers, and people calling the office or registering on the company website are frequently searching for high end listings. Despite the Covid-19 pandemic (or perhaps because of it), the demand for Bend ...
Comments 11
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
The June 2020 MLS figures have been published and it is clear that a lack of inventory is greatly impacting Bend home sales. Ever since coming out of the great recession, we have been in a seller's market with less than six months supply of homes.  However, despite the Covid-19 pandemic (or perhaps because of it), we are seeing many home buyers actively searching for Bend homes and now have less than 1.5 months supply. For Bend properties priced less than $400,000, our brokerage has been involved in several multiple offers - some as high as nine offers on the same home. This is creating a sense of desperation for some looking for a Bend home this summer.When June 2020 is compared with June 2019, Bend single family home sales on less than an acre reflect these changes: Average sales pric...
Comments 16
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
The May 2020 real estate sales figures have been published and the second full month of the Covid-19 pandemic and its subsequent impact on the Bend economy is over. Contrary to the thought process of many, Bend single family real estate sales were extremely strong in May. The biggest limitation to sales was the lack of inventory with sellers either delaying listing or pulling listings off the market. Buyers, however, have entered the market in force and are purchasing Bend single family homes, driving inventory levels below 2 months.When May 2020 is compared with May 2019, Bend single family homes on less than an acre show the following changes: Average sales price down .5% to $553,373* Average list price down 1.99% to $596,885 New listings down 39.2% to 256 Number of homes for sale dow...
Comments 1
By Melinda (Mel) Peterson, The Blessed Realtor - ABR, CRS
(Grants Pass, OR)
Joni Mitchell paints a lovely picture of idealism versus reality when she wrote the song; Both Sides Now.  Some of us look at clouds with such wonder and optimism... like ice cream castles in the air.  Others look at clouds as blocking the sun; raining and snowing on everyone.  Recently, I had a client who felt he missed out on a magical property.  In reality, he wasn't ready to purchase.  But in his mind, he saw ice cream castles in the air, so there was no dismissing his mercurial sense of wonder with respect to this property.  Many buyers start their home/property search with a dreamy wish list often coupled with unrealistic expectations.  Then the stark reality sets in and buyers end up adjusting their sails.  How do we navigate these stormy waters without being viewed as dream kill...
Comments 11
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
The first full month of the Covid-19 pandemic impacted Bend single family homes with sales significantly down over the same month in 2019. Some buyers lost jobs which in turn kept them from qualifying for their mortgage. In other cases, sellers took their homes off the market not feeling confident to sell during the stay at home orders. Other buyers delayed their trips to Bend and canceled appointments to view homes. While Bend home sales still are occurring, it is different than it was before Covid-19.When April 2020 Bend single family home sales are compared with April 2019, the following differences can be noted: Homes available for sale down 16% from 971 to 811* New active listings during the month down 35% from 364 to 236 Pending home sales down 41% from 296 to 172 Homes closed dow...
Comments 3
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Mortgage rates have dipped to a record low for the second time in as many months since the Covid-19 pandemic began.  The 30-year fixed-rate mortgage dropped to an average of 3.23% during the week ending April 30, a decrease of 10 basis points from the previous week, according to Freddie Mac. This represents the lowest level since Freddie Mac began tracking this data starting in 1971. A year ago, the 30-year fixed-rate mortgage averaged 4.14%.  What Do Low Interest Rates Mean for Bend Home Buyers?Low interest rates mean that the average home buyer can afford more than before.  If you review the chart, you will see that the difference of 1% in the mortgage interest rate can be the difference between buying a $630,000 home vs a $700,000. In both cases, the monthly costs are roughly the sam...
Comments 5
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Culture is a paramount piece of the Central Oregon community. During this temporary shut down it may feel like our community is losing its culture, but this situation is just challenging us to build something new. Here at Bend Premier Real Estate, we see the affects that COVID-19 is having on our community and we’ve decided to take this culture challenge and turn it into a platform to build upon.What is Central Oregon Culture? While this is different for each individual, we think it is safe to say that collectively we love our outdoors and being active. And with the weather turning in our favor, most of us are getting outside to bike, hike, run, and explore. But we know that the first few rides, hikes, and runs can welcome a new soreness we haven’t felt in sometime.Most of us understand...
Comments 4
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Jackson's Corner Offers Two Great Date Night Meals Date night is such an important part of relationships. It's time that is actively allocated to spend with those that bring joy to your life. Don’t let this quarantine dull your connection. Whether it's making a meal at home together, or dining together over video chat, make it special for your special ones. If you’re having an arduous time figuring out what to do, we’ve got a few suggestions.  One of our favorite COVID-19 Date Night plans includes Jackson’s Corner's “Pizza Kit”. Only $20 to make two 14 inch pepperoni pizzas! Take this fun kit home; not only is it a scrumptious meal but also some great quality time in the kitchen. Oh but it doesn’t stop at pizza! Jackson’s Corner also offers a Burger kit. For $30 you get four 6 oz pattie...
Comments 2
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Miyagi Ramen Has Great Food at Great PricesIn our ongoing effort to support local restaurants which are struggling during the Covid-19 restrictions, Bend Premier Real Estate Brokers are focusing on Miyagi Ramen this week.Located in the Box Factory on Industrial Way near the Old Mill Shopping Center in Bend, we purchased the Black Sesame Dan Dan (spicy minced pork, baby bok choy, cilantro, lime and fermented black bean) and the Tonkotsu (chashu pork belly, nori, pickled burdock root, bamboo shoot, soft egg, scallion) and an order of Tempura Miatake Mushroom steamed buns (two per order).  For a price of $33, we were totally satisfied and felt our meal was well priced and delicious. The to-go service was ready right when I arrived to pick up our meal; they would have walked the food out to...
Comments 2
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Need a Caffeine Fix Today? During this quarantine it is essential to practice CDC safety guidelines, but does that mean your coffee options are restricted? Definitely NOT! Below are a few coffee establishments in Bend that are still open for take-out and bean orders. Help support local businesses during this chaotic time, and also feed your caffeine needs. Lone Pine Roasters* Also a shout out to Lone Pine Roasters! I recently purchased a bag of their Ethiopian Suke Quto beans. After brewing this coffee today, I can attest to the quality of this roastery. The Ethiopian beans were bursting with aromas of stone fruits and citrus, and the final product was gorgeous. Bright peach notes, with some honey, and a baking spice finish; definitely a great way to start the day. Lone Pine Roasters i...
Comments 4
By Melinda (Mel) Peterson, The Blessed Realtor - ABR, CRS
(Grants Pass, OR)
It's not often that we experience the luxury of time standing still.  The COVID-19 pandemic has provided a glimpse of what the world feels like on pause.  Is it a blessing, or a curse?  Or perhaps both?!Our family experienced a very personal pause 1.5 years ago when my hubby was diagnosed with a rare, incurable cancer.  We were told to go home and get our affairs in order.  In that moment, we were stunned as time stood still. Since then, many of our plans/decisions have been altered in light of the knowledge of that ticking time bomb.  It's been a blessing (in the midst of a curse) being afforded time to refocus and rediscover who we are.I wonder what many of you are feeling in this moment.  Are you being forced to make decisions that you would have never considered if it weren't for a ...
Comments 28
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Adopt a Bend Oregon Restaurant - This Week Chomp ChompWe love Bend! Part of the Bend culture is the variety of places to eat and socialize. With all of Bend's restaurants shut down and only open for take out due to Covid-19 restrictions, we need to support them however possible.  Each week Bend Premier Real Estate brokers are adopting a new restaurant and we invite you go join us.  It takes a lot of food sales just to pay the rent. This week we are supporting Chomp Chomp in downtown Bend.We ordered "Our Ramen" which was fabulous with garlic baby bok choy, nori, oyster mushroom, a soft boiled egg, chicken (we substituted chicken for pork belly) and scallions. Our second order was "All Mighty Gyudon" which was thinly sliced sirloin over rice with stewed onions, fried egg, pickled ginger, ...
Comments 3
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Central Or Real Estate Sales Feeling Impact of Covid-19 PandemicThe March 2020 real estate trends have been published and they reflect both the start of the Covid-19 pandemic and the closings from strong February home sales. Central Oregon schools shut down Friday, March 13th and stay at home became the norm the following week.  Since the start of the pandemic, home sales have dropped, new listings have slowed, and more sale fails than normal have occurred, often due to buyers losing jobs and no longer qualifying for loans.  However, Central Oregon real estate sales are still happening, although at a different rate than normal for this time of year.Bend Oregon Home Sales MixedWhen March of 2020 is compared with March of 2019 for the sales of Bend single family homes on less than an acre...
Comments 3
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Great To Go Food in Bend OregonIf you are anything like us, we have been very sad about not being able to go out to our favorite restaurants during this quarantine. However, this just means we have been changing our focus from dine-in opportunities to the best "To Go" locations in Band! Last week we had the opportunity to try Cody's Catering and for anyone looking for a lot of great BBQ at a fantastic price, this is a must try!Currently through the end of April, Cody's is offering a special where you can buy one dinner for 4 hot and get a second "easy to heat up" dinner for 4 for half price! For a total of $46 we got enough food for about 4 meals for the two of us. Well of course this was exactly the kind of To Go bargain we were hunting for and it sure was delicious! We ordered the BBQ...
Comments 5
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bessie Butte is a Little Known Bend Hike Just a short drive east on China Hat Road in SE Bend you can find Bessie Butte. A quick 1.5 mile round trip, the hike has 500 feet elevation gain and easy access. Although not as well known or used as Pilot Butte, Bessie Butte is a great hiking option and provides for wonderful views from the top. On Sunday, March 22, 2020, after being at home during the Covid-19 pandemic, we drove the short distance to the Bessie Butte trail head and hiked to the top. During the walk, we did pass several parties coming down, but there were plenty of places to step aside and keep the distance needed to maintain safe separation. It was a beautiful day and although we wished the hike could have been longer, the views were stunning.   If you have hiked Pilot Butte S...
Comments 7
By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Oregon Home Sellers Have Options - Use Matterport 3D to Tour Virtually In this never before seen world with the coronavirus pandemic changing how we live our lives, having options on how buyers can tour a home is invaluable. At Bend Premier Real Estate, we invested as a brokerage in Matterport 3D two years ago. We currently own two cameras complete with all the set ups required and have two videographers trained to film these tours.  For our sellers, the benefit of having buyers virtually walking through their home enables us to screen through buyers for whom the house may not work - all without physically being there. For buyers, the opportunity to view the home in 3D can help them determine if that property makes their top list and eliminates time and work in viewing homes which ...
Comments 7
By Melinda (Mel) Peterson, The Blessed Realtor - ABR, CRS
(Grants Pass, OR)
As new information continues to evolve regarding the Coronavirus, so does the need to address potential health issues that impact the real estate industry.  Some states have created a Coronavirus Addendum, addressing the need for escrow extensions due to unforeseen delays.  Some real estate brokerages have put moratoriums on open houses.  Other offices have created a health questionnaires, requiring agents and their clients to complete prior to showing a home.  What can we do to protect ourselves and others?  Besides the obvious CDC recommendations regarding handwashing and social distancing, you can consult your brokerage and Local/State Associations regarding policies being implemented locally.  Most State Associations have legal departments where you can ask crucial questions on how ...
Comments 11
By Melinda (Mel) Peterson, The Blessed Realtor - ABR, CRS
(Grants Pass, OR)
I've often said... character doesn't shine when things are going hunky-dory.  Who needs refining around the edges when business is booming, money is plentiful, love is ever abounding, and toilet paper is in huge supply?  Everyone, said no one!Character SHINES when the $#IT hits the fan!Are you gracious?  Check out the comment box on Facebook, where you'll often find a tally of wrongs coupled with not-so-gracious name-calling and finger-pointing.  Do you participate, or quell social bullies?  Are you kind?  Do your words pack a bite bigger than your neighborhood doberman...  when the waitress gets your order wrong, or that person cuts you off in traffic, or someone grabs the last roll of toilet paper in the midst of a global pandemic?  THESE are perfect scenarios to 'demo' your character...
Comments 24
Explore Bend, OR