Broken Top is located on the westside of Bend just minutes from downtown and a quick 20 minutes to Mt. Bachelor.  It boasts a championship 18 golf course, designed by Tom Weiskopf; gorgeous lodge-style club house with jaw-dropping views; and a community of tall pine trees, paved walking/biking trails, and luxury homes.

Even with the robust sales, inventory levels are still fairly healthy at 4.3 months (we’re even seeing a little new construction).  That said, if you’re thinking about purchasing in Broken Top, don’t wait too long.  At these inventory levels, prices will begin to rise from here.  Current price points range from Low $400K’s to $2M.  Click here to view available properties

Email or call today to learn more:  livegolfbend@gmail.com or 541-280-5352

From January 2009 to January 2012, distressed property sales have represented roughly 55% of all single family residential sales in Bend, OR.  That’s an astonishing number.  With each one of those homes representing a displaced family or a landlord with one less property to rent.

However, through time and the basic law of supply and demand, we are seeing improvement.  As evidence of the continued market turn around we’ve highlighted throughout this year, distressed property numbers are shrinking.  Currently, bank-owned and short-sale properties only represent 39% of total sales of single family homes in Bend through September of this year.  More telling than that, however, is distressed properties now account for only 7% of all currently listed single family residential properties in our local MLS  (one caveat to that low number, is most banks have switched to judicial foreclosures in Oregon which take much longer to process and is likely creating a lag time in these properties hitting the market).

While we expect distressed properties to continue to play a role in our community over the next year to two, their presence and power to influence the overall tide of the real estate recovery are diminishing.  Here’s to fewer double bogeys.

Contact us today to learn more.

In the first 8 months of 2012, Awbrey Glen has seen a 133% increase in the volume of homes sold over same period in 2011.  This wave of buyer interest in Awbrey Glen has left only 6 homes currently for sale inside the gated community (just 2.3 months of inventory based on average monthly sales through August).

While inventory is low, the good news for buyers interested in living in “The Glen”, is median prices have only increased 1.84% since 2011. Which means there’s still time to find values.  But, don’t waste time leaning on your putter; when inventory levels get this low, the pace of homes sales can accelerate like a down hill putt measuring 13 on the Stimpmeter.

Call or email us today to find out more.

The Bend real estate market has definitely turned the corner.  But not all price points are enjoying the rebound.  While the lower-end has been the shining star this year and the lower-middle is falling in line, the upper-middle and upper-end still have a long way to go.  Here are the numbers:

Inventory levels*

$0-$350K:  2.75 Months

$351-$650K:  6.25 Months

$651-$999K: 13.5 Months

$1M+: 188 Months (only 1 sale in 7 months this year)

This makes sense in that the higher price points were last to enter the downturn, as high net-worth individuals had a greater ability to weather the recession …. to a point.  Now, reality has set in for these folks too.  Prices for high-end properties have already come down substantially, but given the lack of current buyers, inventories remain high and prices will have to fall even more.

If you’re looking to purchase from $650K-$1M+ there’s still time to capitalize on the excess inventory and secure a good deal.  But don’t wait too long.  Even high levels of home inventory can be absorbed quickly and you won’t see these kinds of values in Bend real estate for decades to come.

*(Single family residential inside Bend city limits, based on average monthly sales since 1-1-12. Five to six months inventory is considered healthy.  Below 5 months is a seller’s market, above 5 months is a buyer’s market. Data collected from COAR MLS and believed to be accurate, but not guaranteed)

Here are the numbers:

• 12 sales since January 1, 2012 (10 home sites and 2 homes)
• 8 current  pending sales (7 home sites and 1 home)
• 2 sales of the new Tripleknot town homes
• Club memberships have more than doubled in the past 18 months
• 8 custom homes and 5 spec homes currently under construction

Tetherow is a 700 acre golf and recreational community on Bend’s west side, boasting a links-style golf course designed by David Mclay Kidd, rolling landscape, Cascade Mt. Views, and terrific proximity to downtown Bend and all that Central Oregon has to offer.

Contact us today to find out why others are making Tetherow their home and golf club of choice.

To kick things off, I’m going to announce the bottom of the real estate downturn in Central Oregon. Not necessarily today, but sometime this year.  Here’s what I’m seeing:

1. Inventory levels in the two largest markets of Bend and Redmond are below 4 months and have been that way for close to two quarters (6 months is considered a healthy market).  That’s a long way from the 14 months of inventory we had just after the crash.
2. We’re seeing an increased number of multiple offer situations on homes in certain price points.  With low inventory levels, it’s getting harder for buyers to find quality product and, therefore, buyers are competing for those homes. Basic supply/demand dictates that when there are more buyers for a specific product than product to sell, prices go up.
3. Builders have started to increase their production, though cautiously.  There isn’t the amount of new construction we saw during the boom, but it feels that way, since construction has been virtually non-existent for years.
4. At our most recent weekly MLS meeting, almost a dozen agents announced buyer needs. Agents bring up buyer needs because they’ve been through MLS, seen the available inventory, and can’t find the right home for their buyer.  That’s the first time in 4 years I can remember that many buyer need announcements in one meeting.

These are all good signs that I believe point towards a bottom in the market.  The one wild card for me is the bank-owned inventory.  No one really has a good handle on how much inventory the banks have on their books and I want to see what the banks do this spring and summer before I go all-in saying the bottom is actually here.

If you’re an active buyer, it’s time to get off the fence.  The incredible window of opportunity to capture low interest rates and low home prices at the same time is starting to close.  If you’re a seller, take heart.  The playing field is starting to level out.  It won’t be long before prices begin to stabilize and the time it takes to sell your home is reduced.  Again, time to celebrate!