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Bend, OR Real Estate News

By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Hayden Homes Amphitheater In Bend OregonNestled in the heart of Bend's Old Mill District along side the Deschutes River, Hayden Homes Amphitheater stands as a testament to the harmony between nature and music. With its picturesque surroundings and state-of-the-art facilities, it has become a beacon for music enthusiasts and performers alike.2024 Season of ConcertsThe 2024 season promises to be a spectacular journey through a diverse range of musical genres, catering to every taste and preference. This year there are so far 49 shows on the books including Rock, Classic Rock, Indie-Alt, Pop, Country, Reggae and a few high-profile comedy acts.  To name a few:  Sarah McClachlan, Dave Matthews Band, Vampire Weekend, Stray Cats, Cage the Elephant, Matt Rife, Illza, Nickel Creek, The Avett Bro...
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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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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Keep your Central Oregon Home Warm this Winter with these 5 Inexpensive Energy Saving Tips Check Your Doors for Leaks - Keep the cold air from leaking in doorways by replacing or fixing your weather stripping or useing a decorative draft stopper. Open and Close Your Blinds - Open your blinds to let the sun shine through and help heat your home during the day.  Then make sure to close the blinds to help seal the heat in as the sun goes down. Bundle Up - Add a little extra insulation to your body.  Wear a sweater and slippers to keep warmer vs. turning the thermostat up. Enter your House through the Garage - If you don't already have an arctic entry way use your garage to enter the house and keep the cold breeze from entering with you. Exercise - Exercise increases your blood flow and war...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Has the Real Estate Market in Central Oregon Stabilized? Free Market Reports for your Neighborhood are available from Kryste Adams and Neil McDaniel of Fred Real Estate Group. These reports will provide you with recent sales and active listings in your Bend, Redmond or any other Central Oregon neighborhood. Whether you are looking to buy or sell your home, take advantage of these reports so you can stay competitive in this challenging real estate market.     Knowledge is Key to staying on top! Please contact us with questions, we are happy to assist you with any of your Central Oregon real estate needs.
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
It may be snowing but you can still Golf this winter or any winter in Bend, Redmond and surrounding Central Oregon Cities.  Just one more reason to love Central Oregon - you can ski and golf all in the same day! The following Central Oregon Golf Courses are still OPEN for Public play all winter. River's Edge Golf Course in Bend, OR Lost Tracks Golf Club in Bend, OR The Greens at Redmond in Redmond, OR Juniper Golf Course in Redmond, OR Missing Link Family Golf Center in Redmond, OR Kah-Nee-Ta Resort in Warm Springs, OR Meadow Lakes Golf Course in Prineville, OR Challenge Course and Ridge Course at Eagle Crest Resort Desert Peaks Golf Club in Madras, OR   A few pointers for Central Oregon Winter Golf: Be prepared to walk more often in the winter as high cart traffic can be damaging to th...
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By Cheri Smith
(Total Property Resources)
A recent article in The Bulletin indicates that the local real estate market may be shaping up for recovery. The number of homes for sale is roughly 50% off its peak of August 2007. Low home prices, low interest rates, and the tax credit incentive  have all contributed to the increase in home sales. An inventory of 6 months is considered to be a balanced market. Anything less signifies a seller's market and anything greater indicates a buyer's market. For homes listed at $300,000 or less, which is the most active segment of the market, the inventory is currently 3 months. Bend's median home price seems to have bottomed at $195,000 in April of this year and currently sits at $220,000. Read the entire article: Housing Inventory Plummets in Bend
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By Tarris Rogers, Bend Oregon Real Estate
(Cascade Sotheby's International Realty)
Signs of a housing recovery in Bend are growing ever stronger.  The Bulletin, Central Oregon's largest Newspaper is reporting that the current single family home inventory, (homes currently for sale) has dropped from its high in August of 2007 by approximately 50%. In August 2007 the average amount of single family homes for sale stood at a whopping 1600 units.  Today's inventory of single family homes for sale is now averaging around 785 units.  A quick review of the MLS database shows the current number of single family homes for sale to be closer to 1000 as of today.  That number will fluctuate up and down as homes sell and new homes come on the market.  November is historically a slower month for real estate sales. The city of Redmond is experiencing a similar shift according to the...
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By Tarris Rogers, Bend Oregon Real Estate
(Cascade Sotheby's International Realty)
Americans are changing their tastes in what they find most desirable in a home according to the most recent study completed by the American Institute of Architects.  While Home Theaters, Triple Car Garages, Exercise Rooms & Guest Wings were all the rage during the housing boom, the average American has taken a decidedly different stand on what they find most important in a home in today's economy. Americans are scaling back on the luxury items they once wanted in a home and are now centering more attention on the function and efficiency of a home rather than its excesses. Topping the list of most requested home features at a whopping 40% request rate is the Home Office.  That should come as no surprise given the fact that many people are now needing to create multiple streams of income ...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Don't Miss the 10th Annual Veterans Day Parade in Bend Oregon this Wednesday November 11, 2009. This year's parade begins at 11:00 am on NW Newport Ave. The parade will proceed through downtown Bend, OR to the Veterans Memorial Bridge.  The Veterans Day Parade of Bend is sponsored by community and volunteer donations.  Come out Wednesday and show your support of our Veterans.  A map of the parade route is available on the Bend Bulletin's Website.   Photo Notes: The picture is my cousin, CPT Scott Adair, currently serving our country in Afghanistan. Stay safe Scott!
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By Cheri Smith
(Total Property Resources)
During the month of October there were 1275 homes for sale, 239 contingent sales, 352 homes pending, and 210 sales. The inventory is down and the sales are up compared to the last few months. In fact, the last time we saw this many sales in one month was towards the end of August 2006 when the market started to cool. Roughly 250 properties were taken off the market last month. Some were terminated or withdrawn and others expired. Some of these properties might be relisted but this tends to be the time of year that many homeowners that weren't able to sell during the summer give up. This is why it's important to keep your home on the market if you're serious about selling. There's much less competition and buyers that are willing to look in the dead of winter are serious about buying. On...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
Obama to sign legislation tomorrow - will extend to June 30, 2010 - First Time Home Buyers still $8,000 and Some Existing Home Buyers Qualify for NEW $6,500 “Move-Up” credit ... November 5, 2009   Congress acted with urgency today to get the Unemployment and Housing Credit bill out before the Unemployment numbers are reported tomorrow. As part of this, the House accepted the Senate amendments to the bill Extending and Expanding the Home Buyer Tax Credit.  As reported in the New York Times, minutes ago, the existing credit will both be extended through the first part of 2010 and expanded to higher income buyers.  A new $6,500 credit will be there for some long-time existing homeowners, moving to a new home.  Some cheer, others not so.  Is this the right thing to do? As real estate profe...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Central Oregon First Time Home Buyer and Repeat Home Buyer Tax Credit Update - Obama to Sign Extension on Friday.  After an overwhelming vote in the Sentate on Wednesday and another overwhelming vote in the house today (Thursday) the Bill to extend the First Time Home Buyer and Repeat Home Buyer Tax Credit has one remaining step.  Only one signature remains, President Obama will sign into law Friday morning according to CNBC. Stay tunned for a full update including the tax credit amounts, dates and limitations.
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
If you are interested in reading the actual legislative language of the Home Buying Tax Credit Extension bill, it is available by going to this link: http://bit.ly/3UustY  This is an amendment (S.AMDT.2724 to H.R.3548) to the Unemployment Extension Bill as offered by Senator Schumer. As described previously the terms of the expansion to long-time homeowners includes a requirement that they have lived in the same principal residence at least 5 of the last 8 years.  The credit will be $6,500 for those individuals. Limitations are set at income of $150,000 single and $225,000 married (previously reported at $250k) Maximum home purchase price is set at $800,000 to qualify for the credit.  This will be of more interest in California and High priced regions. Happy reading and remember it is ...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Good News for Bend Oregon Home Buyers: First Time Home Buyer and Repeat Buyer Tax Credit Close to Final Senate Vote Innman News recently announced with in the article, "House leader: Tax credit a go," the following: The Senate on Monday voted 85-2 to place limits on further debate of HR 3548, a bill extending unemployment benefits that includes an amendment that would allow homebuyers to claim the credit on sales under contract before May 1. The vote to invoke cloture moves HR 3548 closer to a final vote in the Senate as early as today. Stay tunned for continuing updates as news is released regarding the first time home buyer tax credit and repeat home buyer tax credit.
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By Tarris Rogers, Bend Oregon Real Estate
(Cascade Sotheby's International Realty)
Bend Oregon Real Estate closed out the month of October with some brisk home sales.  A total of 211 homes were sold during October.  The average sales price was $301,444.  Not bad for a down market and this indicates that both home buyers and investors are seeing good values in our marketplace. Another thing these statistics demonstrate is that the sales are not exclusive to the entry level home market.  More than 50% of those sales were on properties that were priced over $200,000.  The average time on market was 145 days. Price per square foot for stick built homes (not manufactured) on less than an acre came in at $126.00 per square foot on average. Looking forward to the next two months, November and the first half of December historically tend to have less home sales, so it will be...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
Plenty of news from last week and I mean even bigger than the Ducks’ smothering of the overmatched Trojans. In FHA and FNMA home financing news, the High-Balance Conforming Limits that were set to expire this year have been extended through all of 2010.  This is big residential real estate news.  This legislation means that Central Oregon FHA limits will remain at $417k rather than rolling back to the ~$300k level they were headed for.  And for Fannie Mae loans, while the difference in OR between “standard” conforming ($417k) and “high-balance” conforming ($447k) is minimal, the difference in markets that often provide buyers into Central Oregon is very important.  California’s high balance limit of $729,750 when combined with a purchase-money second of $350,000 and an approx 20% down p...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
Outstanding New Loan Program Available for Real Estate Investors in Bend, Oregon    Market Niches      WHO CAN BENEFIT? People looking for a great deal for a primary, second home or an investment property First time home buyers allowed Non-Perm Resident Aliens are not allowed Non-Occupant Co-Borrowers are not allowed     FHA VS. HOME PATH FHA requires UFMI & an annual MI premium Home Path only requires LPMI FHA only allows purchases on primary residences Home Path allows purchase options for primary, second & investment homes FHA requires a full appraisal on purchases Home Path requires no appraisal as the LTV is set by the purchase price Underwriting Guidelines         LOAN LIMITS Conforming $417,000 (One Unit)     TERMS AVAILABLE 30 Year Fixed TRANSACTION PURPOSE Purchase Only        ...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
First Time and Repeat Home Buyer Tax Credits - The Vote IS NOT In - Lawmakers are Getting Closer News updates, rumors, fact and fiction have been flying around regarding the extension of the first time home buyer tax credit. As of today, Thursday, October 19th 5:04 EST (2:04 Pacific), these are the facts regarding the extension of the $8000 first time home buyer tax credit as reported by CNBC. If you're reading this post after the 29th chances are there are more facts and fiction I have not yet reported. A larger glimmer of hope for those hoping to benefit from the First Time Home Buyer Tax Credit as well as Repeat Buyer Tax Credit.  According to Realtor.org, "Key lawmakers in the Senate have tentatively agreed to extend the existing $8,000 tax credit for first-time home buyers and also...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
Rates continue to be excellent for home buying and refinancing, whether for personal use or investment.  And while the MBS prices just dropped below the 200-day moving average we are still in better territory than we were all summer which was very good on its own. Commercial property loans have also benefited from the improving rates recently.  And while many lenders are just saying “no!”, Signet Mortgage’s lender connections are closing commercial purchases and refinances for owner-users and investors.  During this past week, the White House was actively pushing for extending small business lending options (click here.).  The key improvement that may affect commercial property owner-users is the expansion of limits where prior SBA caps were in the $2M neighborhood, would be moved to $5...
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By Kryste Adams, Bend, Oregon Real Estate
(RE/MAX Key Properties - Luxury Homes, Golf Course Homes)
News updates, rumors, fact and fiction have been flying around regarding the extension of the first time home buyer tax credit.  As of today, Wednesday, October 28th 8:06 EST, these are the facts regarding the extension of the $8000 first time home buyer tax credit as reported by CNBC. If you're reading this post after the 28th chances are there are more facts and fiction I have not yet reported. The summary of today's updates regarding extending the first time home buyer tax credit. Fiction = The extension of the $8000 first time home buyer tax credit has passed a vote. Fact = The tax credit has not yet been extended.  A vote was set to occur this week but may be delayed until next week.  Specifically, Republican Senator Mitch McConnell stated, "(the) Timing of a Vote is Uncertain." Fa...
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