Bend, OR Real Estate News

By Keller Williams, Central Oregon Realty
(Keller Williams Central Oregon Realty)
Buying power First timers fuel increase in sales Last week, the National Associates of REALTORS® reported that the Pending Home Sales Index, a forward looking indicator based on contracts signed in March, was on the rise - up 3.2 percent to 84.6 from a level of 82 in February. What's causing the current upswing? NAR Chief Economist, Lawrence Yun, says that the increase in the number of first-time homebuyers taking advantage of the $8,000 tax credit, historically low interest rates, and general housing affordability has been crucial in the initial turn around in overall sales.   Those numbers are in line with another statistic NAR produced earlier this year: 53.5 percent of home buyers in 2009 will be first timers. Are you taking advantage of the business that's buying? Use the Your Firs...
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By Alisha Alway Braatz
(Remax Integrity)
May 2009 Bend Oregon MLS Real Estate Statistics   Residential Properties (stick-built/ plus acreage)   $50,000-250,000 There are currently 598 homes for sale. An average of 61 homes sell per month. There are approximately 9.8 months of sellers in line to sell. Approximately 10% of sellers are likely to sell in the next 30 days. Average sales price: $178,515 DOM: 183       List to Sale Ratio: 94.71   $251,000-300,000 There are currently 191 homes for sale. An average of 14.3 homes sell per month. There are approximately 13.3 months of sellers in line to sell. Approximately 7.5% of sellers are likely to sell in the next 30 days. Average sales price: $275,000 DOM: 214       List to Sale Ratio: 93.5   $301,000-400,000 There are currently 235 homes for sale. An average of 11.3 homes sell per...
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By Maria Peace, MBA, GRI
(THE BROKER NETWORK OF CENTRAL OREGON, LLC)
If you or someone you know is in danger of foreclosure, you might find these sites infomative.  The link below leads you to information on foreclosure prevention scams.  There are a lot of people out there purporting they can keep you out of foreclosure by paying them a fee.  Apparently this is quite a problem and the article states that you should never have to pay for this type of help.  This site also has links to info on eligibility for loan modifications and the criteria. The second link is the actual consumer advisory link that informs you about the many types of scams.  http://makinghomeaffordable.gov/beware.html http://www.occ.gov/ftp/ADVISORY/2009-1.html Below is an excerpt from the first site: "Beware of Foreclosure Rescue Scams - Help Is Free! There is never a fee to get assi...
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By Alisha Alway Braatz
(Remax Integrity)
Home prices and sales volume has dipped below 2005 levels. Sales this month are "dramatically" up to 85, from 65 last month. Average Days On Market has leveled out at 124, versus 2005's 120. We are seeing the lowest price per square foot in the past 6 years, at $110. That's an AVERAGE! Building permits down, in a most obvious fashion. Seven pulled last month. The numbers are grim, but the hope quotient is WAY UP. Activity is plentiful-- now we just need to close some of these deals.    
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By Troy Batson, Bend Oregon Real Estate
(The Lowes Group)
  Market Statistics Report Listings as of 05/04/09 at 11:02am Property Type  Residential    Property Subtypes  Res w/Acreage, Residential    Area  Bend/Tumalo/Alfalfa Statuses  Active, Contingent, Pending, Sold (4/1/2009 to 4/30/2009)      Residential            2- Bedrooms          3 Bedrooms          4 Bedrooms          5+ Bedrooms          All Bedrooms          Active     #Units 104 931 461 75 1571       Average List Price $347,567 $423,477 $651,160 $938,777 $509,865       Average Market Time 183 175 200 210 185       Average Square Feet 1396 2114 3043 4005 2430            All Off Market     #Units 20 205 72 15 312            Pending     #Units 10 142 49 9 210       Average List Price $202,110 $254,274 $407,014 $486,989 $297,403       Average Market Time 183 165 172 179 168       Ave...
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By Maria Peace, MBA, GRI
(THE BROKER NETWORK OF CENTRAL OREGON, LLC)
I was hoping that banks had improved their attitudes and would start working with homeowners to keep them in their homes, but it doesn't seem to me like much has changed.  I still feel like either they or the loan servicers are more eager to foreclosure which only contributes to the problems in the housing and economic sector.   I am curious on how others are feeling.  Have things been better for those of you trying to negotiate a short sale?  I do hear some good stories occasionally, but the majority are bad where the banks or servicers are being total jerks and totally frustrating the homeowner so they give up and move out and say "forget it"  It looks scary to me - I feel like we have a lot more foreclosures coming and feel they could be prevented.  
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
Happy Tax Day!  (Sent to subscribers on april 15, 2009 - email me to become a subscriber!)  I hope your day is going smoothly and you are feeling some of the "good first steps toward economic stabilization" as Ben Bernanke said yesterday.  At Signet we are feeling it and want to share the love.  SBA lending has great news: 504 Debenture rates are now at an all-time low 7(a) funding has increased fully 20% since stimulus efforts SBA fees are on holiday while the stimulus cash is available (est. into winter) A quick rundown on commercial rates available. Note that we are happy to work with investors and owner users, purchases and refinances, above a million and below ($200k loan recently committed) and we are right here in your back yard. OWNER USER: •    i.   To 90% LTV, SBA blended rate...
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By Keller Williams, Central Oregon Realty
(Keller Williams Central Oregon Realty)
MastermindsTravel Center Hotel Block EXPIRES Monday, April 20! Hilton Downtown Austin 500 E. Fourth StreetAustin, TX 78701 Group room rate: $209/night for reservations or call 800-236-6159. Click here Mention the following code to receive the group rate: KWM The Mastermind Group principle: "No two minds ever come together without creating a third, invisible, intangible force which may be likened to a third mind." - Dr. Napoleon Hill to see agenda highlights for Leadership Masterminds in April!Click here April Masterminds 2009 brings you exactly what you've been asking for! #1- Team Pricing - Only $250 per person per session Team member pricing is available to any team member when one team member has previously purchased a single full-priced session of Masterminds OR a MAPS Signature Ev...
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By Maria Peace, MBA, GRI
(THE BROKER NETWORK OF CENTRAL OREGON, LLC)
Today I ran a search of stick built homes priced $150k or less in zip code 97701 and there were 43 listings!  I remember looking hard to find one or two listings under $250k not so long ago.   I wish I had money to buy a few houses now.  At $150k, they would pencil as rentals.  MLS statistics for the past couple of months are showing a lot of activity in this price range.  I don't want to sound like a cheeseball, but now really is a good time to buy if you have money.   These times are really insane-I have lived through several recessions and never remember being impacted as I have this time around.  The big difference I am seeing this time, is that even people with money are holding back.  Perhaps it is because most people have lost so much on their stock portfolios and perhaps real es...
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By Cheri Smith
(Total Property Resources)
Better late than never eh? There are currently 1834 homes on the market, 129 are contingent, 203 homes are pending, and 110 homes sold in March. The majority of home sales were in the $150,000 - $300,000 range. One big change was that 11 homes sold over $500,000 compared to only 4 in February. Of those sales over $500,000 2 were bank owned and 3 were short sales. Of the 64 homes that sold in the $150,000 - $300,000 price range, 32 were bank owned or short sales. Although the great deals right now are the foreclosures, if you look at the sales price versus list price, the average was 95%. That means the discount is really in the list price. Although I have seen some sell in the 80% of list price range, once a bank owned home is listed, they are typically getting 95% or more of the list p...
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By Keller Williams, Central Oregon Realty
(Keller Williams Central Oregon Realty)
THE KELLER WILLIAMS ®PHILOSOPHY   Our Mission:To build careers worth having, businesses worth owning and lives worth living.Our Vision:To be the Company of choice for a new generation of real estate agents and owners. Our Belief:    Real estate is a local service business driven by individual real estate associates and their local image with their centers of influence.Our Values:God, Family, then Business.Our Goal:625 Market Centers.82,000 Associates8,200 MillionairesOur Belief System:Our beliefs are an essential part of who we are and how we conduct business. The Keller Williams® Belief System is the foundation for providing the ultimate in service for our clients. WI4C2TSOur Belief System In Action...Win-Win. . . Or no dealIntegrity. . . Do the right thingCommitment. . . In all thing...
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By Lisa Broadwater, GRI, CDPE - Bend, Sisters, Tumalo, Redmond
(Cascade Sotheby's International Realty)
Last summer, I started tracking the Sisters real estate market. This year, I've expanded to also track the Tumalo Residential with Acreage market. I'm a horse-property specialist, so 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. Granted, tracking Tumalo is an admittedly subjective undertaking since, at least officially, it doesn't exist (it's an unincorporated community). Because its boundaries are up to interpretation, please consider the following statistics a general barometer of the area's real estate activity that includes most, but not necessarily all, of the listings in Tumalo. In Tumalo this month, the gap between the median price of Active Listings and Sold listings remains bro...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
April 6th post, delayed April 6th and a beautiful spring, bordering on summer day in Bend, OR.  Get out and absorb the rays today because this is described as part of our winter pattern and chill is coming back in the next couple of days.  Chill is what the markets have felt already today.  After 4 consecutive weeks of stock market improvements, a recent record by-the-way, the Dow and S&P are both “chilled” this morning. Last weeks change to Financial Accounting Standards on mark-to-market accounting was the latest in a series of good news items that kept bulls wanting for a turn around.  This bear-market rally has lost steam today and with a short trading week (closing early on Thursday and closed Good Friday) there is concern that financial stocks may have gotten ahead of themselves i...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
March 30 post, delayed The rally in the stock market has been encouraging to economy watchers but the debate is on as to whether this is a bear-market rally or merely a “dead-cat bounce”.  This morning the stock market is off 200 points again as stock buyers are catching their collective breath.  Interesting that no one seems to be calling this a recovery yet but at best a bear-market rally.  I appreciate that conservatism of thought as it will take a solid economic base to truly signal recovery on the way.  And yes, we can expect stocks to be the advance leading indicator, but this is still too early.                                                                               The impact of stock movement on mortgage interest rates has been minimal.  MBS continue to trade at levels su...
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By Dave Woodland, Your Bend, OR Friendly, Knowledgable Mortgage Professional
(Signet Mortgage)
March 23rd post Spring time showers are falling from the Federal Reserve clouds in million dollar notes.  As we reported on Fed Day Wednesday, the Fed announced an INCREASE of security purchases (including Mortgage Backed Securities – MBS) of over a trillion dollars, bringing their planned purchases now to over $1.75 trillion.  If you missed that write up, click here or if you would like to see the actual announcement from the Fed, click here.  Let’s take a look at the amazing window of opportunity this presents and discuss how to overcome homebuyer fantasies that may keep deals from getting done. The Fed had already purchased over $200B of mortgage-backed securities before Wednesday’s announcement, so we have an idea of the pattern by which they are moving with their purchases.  Thursd...
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By Maria Peace, MBA, GRI
(THE BROKER NETWORK OF CENTRAL OREGON, LLC)
I thought this was a pretty cool site.  It has you put in your data to determine whether it is more prudent to buy or rent.  Yes, even a good realtor will tell you if you should wait on buying a house.  I would not want someone to get into something they can't afford and it is best to go to some independent site like this that has no interest in selling you a home or loan to get good free advice. http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp?Section=YPTH   Enjoy
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By Lisa Broadwater, GRI, CDPE - Bend, Sisters, Tumalo, Redmond
(Cascade Sotheby's International Realty)
And they say nothing exciting ever happens in small towns... This week, both Sisters and Tumalo were victims of some pretty unusual activity, and only a few days apart (was there a full moon?). I was headed to work on Friday morning when I got a call from a co-worker: Don't bother coming to the office; the entire town is dark. Seems that in the early hours of Friday morning, a car had crashed into one of Central Electric's main transmission poles on Highway 126, shutting off power to thousands of Sisters residents (all the way from Indian Ford to Plainview) and all of downtown. Not long after I hung up from that call, my phone rang again; this time, from a friend who was stranded in Sisters with no way to fill his gas tank and return to his home in La Pine, so I ended up heading that wa...
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By Keller Williams, Central Oregon Realty
(Keller Williams Central Oregon Realty)
Summary of Key Findings   A national study was conducted to explore the approaches that real estate agents use to influence their clients in face-to-face meetings. Findings revealed the following insights:   1. Agents use a variety of selling approaches. However, the study revealed two approaches that have widespread effectiveness for positively influencing clients:   1. Inspiring clients through appealing to their emotions and values and, 2. Providing clear recommendations that show potential benefits for clients.   2. Beyond these approaches, results demonstrate how important it can be for agents to adapt their selling efforts to an individual client's communication style. Specifically, results illustrate how approaches such as: (a) presenting information, (b) rapport building, (c) pr...
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By Troy Batson, Bend Oregon Real Estate
(The Lowes Group)
  Market Statistics Report ~ March 2009 Listings as of 04/02/09 at 1:06pm Property Type  Residential    Property Subtypes  Res w/Acreage, Residential    Area  Bend/Tumalo/Alfalfa Statuses  Active, Contingent, Pending, Sold (3/1/2009 to 3/31/2009)      Residential            2- Bedrooms          3 Bedrooms          4 Bedrooms          5+ Bedrooms          All Bedrooms          Active     #Units 102 920 459 80 1561       Average List Price $341,505 $424,154 $659,844 $931,624 $514,064       Average Market Time 192 174 191 208 182       Average Square Feet 1313 2115 3040 3976 2430            All Off Market     #Units 17 160 66 9 252            Pending     #Units 9 107 35 7 158       Average List Price $220,433 $237,120 $422,374 $465,400 $287,321       Average Market Time 130 155 195 199 16...
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