All About Oregon Real Estate

By Barbara Le Pine, Your agent for the Central Oregon Coast!
(ADVANTAGE REAL ESTATE, serving Lincoln County)
Now there's a "Sink in the pink!"  What say you? Remodel it or restore it? Please comment and let me know if I have found the "pinkest" bath you have ever seen!
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
For those who don't know, Bend Oregon was incorporated in 1904 as a logging town.  Located at the Bend of the Deschutes River in Central Oregon, it's main employer for many years was the Brooks - Scanlon Lumber Company which had its mill on the river. Workers at the mill built small homes in the nearby neighborhoods, taking left over lumber home with them and building their homes piecemeal. Many of these homes (called the mill cottages) remain today and if remodeled, can command a very expensive price due to their proximity to downtown Bend. In the 1990's, the federal government shut down logging on federal land in Oregon. Most of the forests in Oregon are federally owned and managed by the forest service.  Many will attribute the expansive wildfires we have had over the past few years ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Home Prices Up, But at Slower Rate Ask any Bend Premier Real Estate broker what the Bend home market is like late spring 2022 and they will tell you it "feels different" than it has been over the past two years.  The frenzied buying scenarios and multiple offers that were experienced on many listings in 2021 are fewer, days on market on many properties are up, and price reductions on homes that are not in contract within a few days are becoming more regular. While well priced homes in desirable locations are still receiving strong offers, and while bidding wars are occurring, we are not having the numbers of offers in these wars that we had in 2021. As interest rates grow, the buying power of potential homeowners shrinks. Cash offers are still prevalent and often will win over fin...
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By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
How to Rock a Family Opportunity Loan   Looking to purchase or refinance a home for your elderly parents who wouldn't otherwise be able to obtain a mortgage on their own? Looking to assist a disabled or special needs adult child with housing or his/her own? Or how about putting a college-bound child into off-campus housing that you decide to purchase? All of these are both common scenarios and often difficult ones as viewed by the inflexible guidelines in the mortgage industry.  Until now... The Family Opportunity Mortgage can be a great way to thread the needle of otherwise detrimental occupancy requirements for primary homes, second or vacation homes and investment/rental homes.  And if used in the right situation, the Family Opportunity loan will often permit you to obtain lower rate...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Are Bend Home Sales at a Crossroads?We have been blogging monthly about Bend real estate trends for many years. Often the data repeats itself month after month and it can feel a bit repetitious. However, since the beginning of 2022, we have noted changes with Bend home sales trends. There may be many things that are contributing to these changes - i.e. inflation, rising mortgage interest rates, the end of the Covid pandemic mask mandates and stay at home orders, the war in Ukraine, and the start of the mid-year election season to name a few. It remains to be seen whether or not these changes will continue as we move into the Bend's peak selling season which runs from mid spring into early fall.When April 2022 Bend single family home sales on less than an acre are compared with those fro...
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By Duane West
(3R's Construction & Remodeling)
The Key to a Great RemodelWhat's the NUMBER ONE thing that will assist you with getting the dream kitchen you've always wanted?It's a simple four-letter word. … PLAN!Nothing will be more important for you or your remodeling contractor than to know what it is that you need. At the point when you go into a remodel of any sort, you'll have to know what you need for a final product.In this way, in the event that you want (or truly need) a kitchen remodel, November is an extraordinary time to begin!Here's the reason:     November starts the large occasion baking and cooking schedule.     November sunlight is more limited, so you're inside your home more.     November brings more indoor parties for loved ones.     ...thus, you will see everything you wish was different in your kitchen! We sho...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Real Estate Sales Up Despite Rising Interest RatesMortgage interest rates for a 30 year conventional loan with 20% down have exceeded 5% for the first time in over a decade.  Despite the decreased buying power this creates for many, especially first time homebuyers, the March 2022 pending sales of Bend single family homes on less than an acre are up an amazing 108% over the year before. Bend home prices are also up with the median sales price now at $775,000. Bend has become a town of the affluent and while affordability has been an issue for many years, it is now a level never before seen.When March 2022 is compared with March 2021, the figures for Bend single family home sales on less than an acre are as follows: Average sales price up 12.7% to $867,475* Median sales price up 31....
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend OR Luxury Real Estate Sales Breaking RecordsIt is hard to believe, but ten years ago million dollar sales in Bend were rare and uncommon. Out of 1679 sales during the preceding 12 months that included February, 2012, only 9 were for more than one million dollars for Bend single family homes on less than an acre. This figure was .5% of total salesThe Bend real estate market has really changed! Out of the 2490 homes that sold during the preceding 12 months that included February, 2022, 433 closed for over $1,000,000, roughly 17% of total sales.  And while many of these sales would be considered "luxury homes," some are properties that just a few years ago were normal middle-class homes; due to extreme demand with little inventory these properties have seen their value increase into t...
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By Virtuance Real Estate Marketing, Nationwide photography/3D tour provider
(Virtuance)
In an incredibly competitive Portland, Oregon real estate market, what can set your listings apart? The answer is professional, appealing real estate photography. It may sound simple, but the importance of a professional-quality photograph reflecting the beauty and benefits of the home can not be overstated. Potential buyers are attracted to the best-quality photos, so if you want to maximize your sales, professional photography is an essential factor to consider.The Portland Real Estate Market is Competitive The Portland real estate market remains hot, even amid the pandemic. The current demand exceeds the supply, causing an increase in competition and price. The market may be a seller’s market, but buyers are also trying to sift through available listings and focus on the best ones in...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
How High Can Bend Oregon Home Prices Go?It seems that every month we are breaking records with Bend single family home sales. Since coming out of the great recession, Bend has experienced high demand for available housing leading to an increase in home prices. But since the Covid-19 pandemic and the resulting "stay at home orders" and recognition that working from home can be a viable option for many Americans, the increase in the number of people wanting to move to Bend has risen beyond that ever seen before. The lack of property for sale has resulted in tremendous price increases, with the median price of a Bend single family home on less than an acre up 67% above what it was in February 2020 when the pandemic began. While builders have tried to keep up with the demand, the price incr...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Inventory Levels the Biggest Challenge for Bend Home SalesJanuary 2022 began the New Year with the same Bend housing market trends we experienced in 2021 - little inventory with a lot of demand. Bend Premier Real Estate Brokers are working with many buyers who are often discouraged when the available homes are sold before they can offer or end up in bidding wars. But with persistence, many of these buyers do successfully close on their Bend home and enjoy the many benefits of homeownership. Now may be among the very best times to be a Bend home seller. Prices are up, pending sales are up, inventory levels are down, and buyers are paying top dollar for Bend single family homes. Prices reached an all time high in 2021, but they are starting even higher in 2022. We expect Bend homes to con...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Lack of Inventory the Most Pressing Issue for Bend Oregon Real Estate 2021 has come to a close and the Bend housing market has broken records when it comes to volume, price and inventory levels. The huge influx of residents moving to Bend which started with the 2020 Covid-19 pandemic continued in 2021. Bidding wars, multiple offers, and a general lack of inventory drove prices higher than they have ever been. Builders have not been able to keep up with the demand and the supply shortage of building materials has impacted the pace by which new homes can be completed. When 2021 is compared with 2022, the sale of Bend single family homes on less than an acre show the following trends: Average sale price up 26.6% to $774,860* Median sales price up 27.7% to $645,000 New listings up 2.4% to ...
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By Robert J. Russell, IRES, ICREA, REBS, GMA, LAS, LUTCF
(Robert J Russell Companies)
Oregon Real Estate Agents - we are looking for you. The Preferred REALTOR list for Oregon is here: Oregon Preferred REALTOR List
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
One of Central Oregon's more popular summer hikes in the Three Sisters Wilderness, we decided to hike Tam McArthur Rim 11-27-21 a few days after the first snow of autumn had fallen.  Three Creeks Lake had icy sections and only one other couple started the hike just a few minutes before us. We began our hike utilizing microspikes as the trail was icy and the added gripping security microspikes offer enabled us to quickly climb the initial miles of the hike. The snow deepened as we climbed and the trail became less obvious.  However, we were able to follow the tracks of the couple who started the hike just before us, trusting that they knew where they were going.  The hike to Tam McArthur Rim levels out near the summit into an open meadow.  On this hike the end of November, we found the w...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend OR Real Estate Sales Still Strong November 2021Bend homes prices are still rising, despite the seasonal slowdown that is experienced in 4th quarter. Demand is strong, but there is a significant reduction in inventory as is typical in the fall, especially once the holiday season begins. The median home price of a Bend single family home has broken a new record and is now pushing $700,000. More purchases this fall have involved loans as compared with the 2021 summer when cash buyers usually won in a multiple offer scenario. With fewer multiple offers, more buyers with loans are having their offers accepted. If the price of the home works for their budget, first time homeowners are now seeing their offers accepted.When November of 2021 is compared with November of 2020, the following ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Bend Oregon Inventory Levels Down and Prices UpCentral Oregon is now in the fall season and typically during fall, Bend real estate sales drop. However, Bend single family home sales in October 2020 were anything but typical with sales breaking historic records. Speed forward to October 2021. While lack of inventory is still impacting prices, compared with the frantic fall sales of 2020, home sales in October 2021 seem more measured with offers often undergoing counter offers and negotiations on home repairs back with most transactions. This is a win for Bend homebuyers and for sellers, a strong sellers' market makes it a great time to list.When October 2021 is compared with October 2020 for Bend single family homes on less than an acre, the following changes can be seen: Average sales ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
October 16, 2021 was probably one of the most beautiful fall days in Central Oregon that we have seen for many years.  The cool weather in the morning warmed during the day and the sky was a perfect blue with a few high clouds. The snow that fell on the mountains earlier in the week had melted some and it was a great day to take a long hike in the Cascades. We started off the day deciding to hike the Three Sisters Wilderness loop from Soda Creek around Broken Top to Green Lakes and back via Fall Creek to the trailhead.  We had taken this hike last year in late October and thought it would be good to do again.  However, 4.5 miles into the hike the trail branches northeast to Broken Top and ultimately No Name Lake. This time we elected to take the longer hike to Broken Top. Starting the h...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Redmond Oregon's First Three Quarters 2021 Reflect Strong Home SalesWe haven't looked exclusively at Redmond Oregon single family home sales for six months.  We know that home sales have been strong throughout Central Oregon with prices up and inventory levels down. But as a community without a lot of single family luxury homes, Redmond attracts a great number of people for whom Bend has become unaffordable.  Although a smaller community to Bend, Redmond has also had prodigious growth over the past decade.  The Covid lockdowns and work from home orders have also impacted Redmond with more people moving there than available inventory creating bidding wars and pushing home prices up. When we compare the first 3 quarters of 2021 with 2020 for Redmond single family home sales on less than a...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
On October 9, 2021 we were able to check another Central Oregon hike off the bucket list.  The hike to Four in One Cone off Scott Trail in the Three Sisters Wilderness has been a goal for sometime and we were scheduled to hike this earlier in the summer under the new Wilderness Permit System; however extreme wildfire smoke kept us away on our scheduled day. In early October, the hike started with cool temperatures (in the 20s) but warmed during the day to the 50s. The hike is not long (roughly 9 miles round trip) with elevation gain just over 1400 feet. The hike is called Four in One Cone due to the nature of the 4 cinder cones which are adjacent to each other and have the unique topography of being blown out on one side with the remaining rim flowing into the next cone. The views from ...
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By Lynnea Miller, Premier Real Estate Service in Central Oregon
(Bend Premier Real Estate)
Are Bend Oregon Real Estate Sales Returning to Normal?Are we getting back to a normal, seasonal adjustment to Bend real estate sales? Typically Bend single family home sales drop off in the fall once children start back to school and regular fall activities resume.  Bend's usual homebuyer in the fall includes retirees, the second home buyer and investors.  However, Bend home sales fall of 2020 did not drop off with homebuyers snapping up available property at amazing levels through the end of October. Sales remained above normal even through the holidays.As we reported in an earlier blog this year, Bend home sales started shifting from the frantic buying seen over the past 12 months to a more normal level in July, 2021 and this trend has continued through September. Although well priced...
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