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Bend, OR Real Estate News

By Lisa Broadwater, GRI, CDPE - Bend, Sisters, Tumalo, Redmond
(Cascade Sotheby's International Realty)
Okay, so at this point, all the big-box stores are swamped, city traffic is bumper to bumper, holiday sales have stripped the shelves of all but the most marginal of inventory (size S or XXXXL, anyone?) and your nerves are frayed beyond repair. So, do yourself and your community a favor: ditch it all and head for Tumalo. There you'll find "Tumalo Tinsel," a small crafts market stocked with absolutely nothing you'll find in any of those mass-market department stores in town. Instead, the cozy community space (once home to "Collage," a card store that recently relocated to a larger space in Redmond) is stocked with handmade wares created by Oregonians -- primarily those from Central Oregon. Although there isn't much for the man in your life here (unless he's into gourmet food or smelling ...
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By Lisa Broadwater, GRI, CDPE - Bend, Sisters, Tumalo, Redmond
(Cascade Sotheby's International Realty)
This month, Tumalo continued to make strides toward a more balanced market, with decreases across the board. Once again, the number of Active Residential with Acreage listings shrank (from 85 to 76). Similarly, the supply again decreased, from a 25-month supply in October to a 21-month supply in November. Meanwhile, the median price for Active RW listings in Tumalo also decreased (from $719,000 in September to $695,000 in November), as did the number of Active million-dollar listings (down from 28 to 24). As a horse-property specialist, Tumalo has always been of particular interest to me because that's where you'll find many of the most desirable horse properties in Central Oregon. Because its boundaries are up to interpretation, please consider the following statistics a general barome...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Santa's Gone GREEN for Fred Real Estate Group! Santa joined the Fred Real Estate Group team for the annual Bend Christmas parade and Jingle Bell Run through downtown Bend this past weekend!  It was yet another beautiful sunny day in Bend and a great parade!   
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
We make a living by what we get, but we make a life by what we give. ~ Winston Churchill "There's a fine line between Saturday night and Sunday morning".....I'm sure we've all heard this quote, maybe even said it a few times, in our before child, wild years.  As I was watching the news this Thanksgiving weekend listening to the endless stories on the preparations and deals for Black Friday, I was somehow reminded of the somewhat vulgar quote. "There's a fine line between Saturday night and Sunday morning" - usually referring to a night of heaving drinking followed by religious repentance.  When it comes to Thanksgiving weekend.....there's a fine line between Thursday night and Friday morning.  The country transforms in a matter of hours, from being Thankful for their families and blessi...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
I hope your drive was safe this morning.  Check that- what I really hope is that your driveWAY was scraped this morning by some kind soul. It was the first real use of the snow plow this morning, but here is the good news: In only two weeks, the days will start getting longer, everyday, bit by bit. Pictures from the Bend, OR office here and from our Alamo, CA home office here.  The other good news?  Rates are still fantastic.  While the newspaper is a week late (see chart below) in reporting the 30-year-record lows on home mortgage rates we are still only basis points in fees away from those record rates in the 4’s being the key number.  And our commercial lending partners are approving loans! If you peeked below at the 30-day MBS chart you will see a bit of a retreat last week for Mort...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
MBS securities are again the safe haven pushing 30-year fixed mortgage rates to 4.500% for the price of an origination and normal closing costs!! Or you can get the bank to pay the origination and closing costs can put some no-cost 30-year fixed at 4.875%.  What is driving the improvement? Global market concerns with Dubai World delaying repayment of $60B in debt last week shocked people into the reality that emerging market investments have greater and sometimes, unforeseen risks. All of this brings investment dollars back into the US, and away from equities.  Treasury securities benefited along with MBS with the 10-yr yield now below 3.25% and 5-yr hovering near 2.0%.  The important 5-yr SWAP number is now at 2.34% putting best priced 5-yr fixed, 25-year am commercial notes very near ...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
Hooray for unbelievable residential rates continuing at 4.625% for the price of an origination and normal closing costs on a 30-year fixed, conforming-loan, principal-residence or vacation-home purchase.  Maybe even more surprising is that investors looking to add to their real estate portfolio can buy that same sfr home getting 5.000% for a rental or 5.250% for a duplex/triplex, all for the price of an origination and normal closing costs. But even more I am grateful for you.  This is an exhilarating business and it is the association with you and your partners that make it enjoyable.  Signet Mortgage, now in its 7th year, continues to grow and serve more real estate buyers, owners and professionals.  It is the pursuit of giving sound advice and making dreams come true drives us forwar...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
How will this Effect the Central Oregon Housing Market? New Legislation Proposing an Increase in the FHA  down payment from 3.5% to 5% - To Keep Home Owners from Defaulting on Loans. According to a recent article on Yahoo News "More cash down proposed for FHA-backed loans," ...the administration wants borrowers to have a stronger equity position on their loans. One possibility would be raising the current 3.5 percent down payment requirement. Proposed legislation in Congress would raise the down payment required to 5 percent. The rational behind the increase is two fold: ...to get homeowners more invested in their property and therefore less likely to default on loans....and to better protect the FHA... At first glimpse this makes sense, then again maybe not.  If a homeowner has more eq...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Text 'Google' on Your Mobile Phone for Directions, Weather or Random Facts. If you're out and about and either don't have a web browser on your phone or don't want to use it just text message Google and Google will text you back the answer. First enter GOOGLE or the number 466453 as the recipent Second, ask Google your question. Find Local Businesses - Text:  Business name and zip code or city (Example: Sushi 97701) Weather - Text: Weather zip code (Example: Weather 97701) Sports Scores - Text: Score Team Name (Example: Score Broncos) Directions - Text:  Starting Address to Destination Address (Example: 97701 to 23185) directions can be as general as zip codes or full street address to full street address. Stocks - Text: Stock and Ticker Number (Example: Stock GOOG) Random Facts - Text:...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
If you're a mom who's new to Bend or a long time resident, you should check out the MOMS Club® of Bend, Oregon Moms Offering Moms Support. Here is what the MOMS Club® of Bend has to offer you: Playgroups - are available for brand new babies through toddler, preschool and older. Children Activities - including visits to Bouncing off the Wall, sledding, fire station visits, library story time and pottery making.  New activities every month for kids of all ages. Mom's Night Out - need a few hours away from the kids, join fellow moms for a night on the town, we rarely meet at the same place twice. Couple's Night Out - line up the babysitters and have a date night with other couples. Family Night Ou t- coming up in December our family activity will be a meet-up at the Bend, Oregon Christmas ...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Why do you love Bend, Oregon?  Is it the 4-5 inches of snow we recieved this morning?  The blue skies we're blessed with this afternoon?  Perhaps the it's the many Central Oregon Golf Courses or the abundance of hiking and biking trails.  Is it the friendly people around town that truly love living here?         Whether you're a long term resident or thinking about moving to Bend, Oregon, you'll find many things to love about the beautiful high desert.
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Give the local Central Oregon economy a boost by buying local this holiday season.  The Bend Bulleting recently published an article highlighting a few local businesses and and their Black Friday specials this November 27, 2009. Here are a few of the Bend, Oregon Black Friday Specials as reported by The Bulletin in the article, Into the Black, Retailers in Central Oregon and around the country are hoping one of the year's biggest shopping days will help them get back Clutch: A Handbag Boutique124 N.W. Minnesota Ave., Bend; 541-306-3099Open: 11 a.m.Sale: Buy a handbag, get a wallet at half price D's Hobbies757 N.E. Greenwood Ave., Bend; 541-389-1330Open: 10 a.m.Sale: A yet-to-be-determined percentage off top-selling products, such as paintball guns Elite Repeat950 S.E. Third St., Bend; 5...
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By Tarris Rogers, Bend Oregon Real Estate
(Cascade Sotheby's International Realty)
We are getting closer to the end of 2009 and with it brings some interesting statistics on Short Sales.  The common myth is that Short Sales don't work but our latest statistics prove otherwise. First, a Short Sale is where a Seller attempts to sell his house for less than he/she owes the bank on their home.  The bank reviews the file and if approved, will allow the homeowner to go ahead and sell their home to a prospective buyer for less than what the Seller owes them. If you have a real estate agent who knows what they're doing, you can also be released from any further obligation of the 'shorted' difference between the sales price and what is actually owed on the home or at the very least, be left with a much smaller debt in the form of an unsecured loan at little or no interest.  Th...
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By Tarris Rogers, Bend Oregon Real Estate
(Cascade Sotheby's International Realty)
Broken Top is unquestionably one of Bend's premiere Golf Living communities and was initially developed in the early 90's. It is comprised of approximately 870 homes with a few individual lots left to build on. The Community of Broken Top can be divided into what amounts to 8 neighborhoods as follows:   Custom Homes Area - CUSTOM SINGLE FAMILY HOMES  Fall Creek - PLANNED SINGLE FAMILY HOMES  Arrowood Trail - TOWNHOMES  Whisper Ridge - TOWNHOMES  Bridge Creek - TOWNHOMES  Painted Ridge - TOWNHOMES  Tyrian Sky - TOWNHOMES  Courtyard - TOWNHOMES  Each neighborhood has its own homeowners association and respective HOA dues. Broken Top is considered by many to be an exclusive area due to multiple factors which involve its location, its private 18 hole, 7161 Yard, par 72 Golf Course, designe...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
    Have you checked out Fred Real Estate Group in Central Oregon Yet? Something different in real estate providing you with outstanding service for all of your home buying and selling needs in Bend, Redmond and surrounding areas. Contact us for more information on foreclosures, short sales and property values in the High Desert. It's a great time to buy in Central Oregon with low mortgage rates, low home prices and the repeat / move-up and first time home buyer tax credit.
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Are Your Skis and Snowboards Ready? It's Official - Mount Bachelor Opens Friday, November 20th 2009 at 9am!!! The ski season has officially begins this Friday as Mount Bachelor opens in Central Oregon. Opening day operating lifts are expected to be the Pine Marten Express and Sunshine Express.  Additional areas of the Mountain are expected to begin opening Saturday through the Thanksgiving weekend.  The Nordic Lodge and trails will also open for the season first thing Friday morning.    All open services will be operating out of the West Village Base Area including food, rentals, retail shop and Snowsports school. Skiers and Snowboarders should remember that early season terrain still exists and to watch out for unmarked obstacles.  The staff at Mount Bachelor recommends skiing and ridi...
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By Lisa Broadwater, GRI, CDPE - Bend, Sisters, Tumalo, Redmond
(Cascade Sotheby's International Realty)
  Like Sisters, Tumalo's real estate market saw only minimal changes from September to October. Once again, the number of Active Residential with Acreage listings shrank (if only slightly, from 86 to 85). That continued Tumalo's downward trend in inventory, from a high of 99 RW listings in January. Similarly, the supply again decreased slightly, from a 26-month supply in September to a 25-month supply in October. Meanwhile, the median price for Active RW listings in Tumalo also decreased slightly (from $722,000 in September to $719,000 in October), as did the number of Active million-dollar listings (down from 29 to 28). As a horse-property specialist, Tumalo has always been of particular interest to me because that's where you'll find many of the most desirable horse properties in Cen...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
Rates are even better this week than last! We are locking conforming loans at 4.625% for 30-year fixed for the price of an origination and normal closing costs.  Why the improvement? Mortgage Backed Securities (MBS) continue to ride sky high with values very close to their 2-year high-water mark set 6 weeks ago.  There are more investors wishing to buy MBS as an excellent investment, now safely returning twice what CDs and other fixed income instruments are returning.  The volumes available (supply) of mortgage bonds dipped lower in the last 2 weeks as home purchases and refinances slowed, causing demand to exceed supply.  All of this is possible because the inflation monster is secured tightly in its closet for apparently many more months to come, leaving supply and demand to rule the ...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
Originially sent out Monday 11/9/09 - for realtime receipt of our blog - email dave@signetmortgage.com Rates, Housing, Tax Credits, Unemployment, FED announcements, Treasury Auctions, Oh My!  We had a full week with many different topics in play.  To cut to the chase: Signet Mortgage lending rates remain for 30-yr fixed at 4.75% with an origination and normal closing costs for conforming amounts and qualified borrowers. We are locking and closing loans.  Come see us THE Fed held their FOMC meetings and announced on Wednesday that they are not raising interest rates.  In fact, based on the state of the economy (all rosy stories aside) the FOMC statement that we should expect “exceptionally low levels of the federal funds rate for an extended period “ (full statement: click here) is feeli...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Central Oregon Awarded $3.89M for Affordable Housing.  The real estate market has declined and rent rates are lower across Central Oregon, but the need for affordable housing is still in high demand.  According to an article in todays Bend Bulletin, the state housing agency has awarded approximately $3.89 million in grants, tax credits and loans to contractors in an effort to repair and add additional affordable hosing in the area. These funds will help maintain section 8 housing through out Central Oregon including Quimby Apartments in Bend, the High Desert Commons Project in Redmond and Grasshopper Village in Prineville.  This is good news for the more than 78,000 low-income rental households in Crook, Deschutes and Jefferson counties.  Read the whole article - Affordable housing gets...
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