You guessed it, Bend!

A great time for investors, home prices in Bend are 45.2% off their peak in Q1 2007. Bend's median family income is close to the national average of $61,600.*

Contact us to get in on the best deals including foreclosures, short sales and more. 

*Data provided by Fiserv Case Shiller Indexes via Business Insider Magazine

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Q. Where should I begin?

A. Start by making a commitment to do what it takes to market your house to get it sold. With the right system, the home sale you want is still well within reach.

Q. Why didn't my home sell?

A. Review your previous selling plan and you'll discover that an expired listing usually reflects a problem in one or more of these four major areas:

1. Teamwork,

2. Pricing,

3. Condition of Your Home, and

4. Marketing.

4 IMPORTANT POINTS THAT WILL GET YOUR HOUSE SOLD

 1. Teamwork

Your home is a major financial investment, and your relationship with your Realtor® should be a full partnership where your needs and wishes are heard, and you receive detailed and dependable feedback on the progress of your sale.  Your agent has a responsibility to source this feedback from the agents who have shown your home, and to communicate this to you so together you can make the right decisions about what to do next.  How well did this occur the last time you had your home up for sale?

2. Pricing - Did price work for or against you?

The "right" price depends on market conditions, competition and the condition of your home. Pricing it too high is as dangerous as pricing it too low. If your home doesn't compare favorably with others in the price range you've set, you won't be taken seriously by prospects or agents.

You'll get the facts when you see the statistics!  To help you to establish a realistic selling price for your home, ask your agent to provide you with an up-to-date competitive market analysis to give you:

* a review of comparable homes recently sold or currently for

  sale,

* an idea of how long other homes have been listed, in order to

  calculate an average time in which a home can sell in today's

  market,

* a review of homes whose listings have expired, to understand

  what issues were at play.

Note:  There is no mention of how much you paid for your home or its improvements.  Like any other investment, the market value is determined by what a willing buyer will pay and a willing seller will accept.

3. Condition of Your Home - Show Case Quality!

Is your house someone else's idea of a dream home?  When buyers enter are they inspired?  Do they think, "I love this house!"

Remember, the decision to buy a home is based on emotion, not logic.

A house in move-in condition invites a sale.  You need to

consider:

*  fixing all the little squeaks and cracks

*  keeping it clean for all showings

*  making it uncluttered

*  brightening it up

*  what your home shows like from the street (concentrating on outside curb appeal)

Plus - Consider taking care of major items, such having your home painted. Offering an allowance to your prospective buyers, so they can have painting completed is not the same as having done it for them. Now, as they're trying to imagine what that new paint job will look like, they may also be discounting the price even further because of the less-than-perfect look of those walls.

Remember... A house that presents well, sells for the best price because it outshines the competition.  Ask your agent if they can arrange a no-obligation inspection of your home to help you assess the above.

4. Marketing Your Home To Sell!

One of the first steps in your marketing plan involves finding an agent who will best represent you.  When interviewing agents, test and compare their knowledge and ask each to demonstrate how they will market your home to buyers. Compare, too, how much money each spends on advertising the homes s/he lists, in what media (newspaper, magazine, etc.) and the effectiveness of one medium over the other.  Remember, it's not just how much they spend, but how they spend it.

Say goodbye to any real estate agents using old, traditional methods to sell your home because they don't work in today's market!  To be competitive in today's marketplace, agents who use new and innovative, non-traditional marketing approaches are the ones who are getting more homes sold fast and for top dollar.

EVERY SELLER CAN BOOST A PROPERTY'S EXPOSURE!

1. Make your house easy to show.

* Consider installing a lock box.

* Allow showing times that are convenient to buyers.

2. Use a "For Sale" sign, where permitted.

3. Create a Good First Impression by:

* depersonalizing furnishings and decor so prospects can

  visualize themselves in your home;

* emphasizing curb appeal;

* keeping large pets at a distance.

REMEMBER -  The next prospects who visit your home may be your buyers - be ready for them!

GET THE BEST RESULTS

To get the best results when selling your home, you need to team up with your agent to develop a powerful marketing plan that exposes your property to the widest possible pool of prospective buyers.

 Not all agents are the same. The relationship between you and your agent can make the difference between selling your home fast, or not selling it all.

BUYERS ARE OUT THERE - AND THEY WILL COME!

Before you put your home back on the market, remember:

1. Effective communication is vital between you and your agent.

2. Price your home according to market conditions, competition

   and the condition of your house.

3. Be sure your house is in showcase, buyer ready-condition.

4. Have an innovative marketing plan firmly set in place.

There is a lot to be thankful for during the holiday season, and our family is especially thankful that we live in an area like Central Oregon and that we can live so close to the mountain. 

It is looking fairly promising this year with the return of La Nina.  So be prepared and buy your passes ahead of time.  Apparently Mt Bachelor has even opened up a Season Pass office in Bends Old Mill District until November 16^th.  Happy Thanksgiving to all of our friends and clients, we will see you on Mt. Bachelor.

For your Mt Bachelor Mountain up date and considering skiing getaway properties, contract Terese.  As her older daughter Brooke has qualified for a Junior Olympic race she has a first hand pulse on this sport in Bend, Oregon.

When we got to the boat early Wednesday morning I noticed that some of the fly rods in the boat were a lot larger than others.  They appeared to look more like something you might see on a deep sea fishing boat.

I quickly learned as my 12’ pole was handed to me that it was in fact a Spey rod. 

After some instruction on how to cast, I was hooked!  The two handed casting takes place in front of the angler, not behind.  Much better in my opinion.  I really prefer catching fish instead of trees and bushes.

As for the rest of the trip I actually ended up catching more trout than steelhead, but at least I caught something.  Catching is much more fun than fishing.  I am already looking forward to our next Spey rod fishing experience.

Terese Kelley, Broker, Outdoor Enthusiast

If you enjoy walking, running or biking, Farewell Bend Park is the place to be, especially in the early morning or at dusk. My husband and I try to walk the park with our little dog at least a few times a week and EVERYTIME we go, we always say “that was such an enjoyable, relaxing walk” and our little one agrees.

The last time we were there we came across the new artwork piece they’ve put in at the far West end, right at the bridge.  Wow!  It’s something special that everyone at any age would enjoy seeing.  It’s called “TWO BITS” and the sculptor’s name is Greg Congleton, and it was donated to Bend’s Park & Recreation by: Penny & Phil Knight.  We highly recommend you take a walk, enjoy the park and take a moment to “really” see inside and out what makes this “steel sculpture” a one of a kind piece. Please enjoy some of pictures, but I believe you need to see this treasure for yourself.

Your friend in Bend.

Amanda Carter, Office Manager
Central Oregon Outdoors Enthusiast
Bend and Beyond Real Estate

Home Sales between June 2010 through August 2011 ("The Period"):

• Home sales in the period ranged from a high of 389 last September to a low of of 250 in February 2011.
• Homes placed on the market for sale for the period ranged from a high of 3116 in July 2010 to a low of 1847 in February 2011. 

More recently:

• June 2011:  330 homes sold of the 2180 that were for sale. 
• July  2011:     292 homes sold of the 2426 that were for sale.
• August 2011: 332 homes sold of the 2396 that were for sale.

Average Prices of Homes Sold:

• Over the 15 month period, the average sale stayed generally in the low $200,000s
• High month average was $238,000 in August, 2010
• Low month average was $188,000 in February 2011
• August 2011 Average was $223,000

*These reports were published Sep. 2011, based on data available at the end of Aug. 2011. 
All reports presented are based on data supplied by the MLS of Central Oregon or MLSCO. Neither the Association nor its MLS, nor Bend and Beyond Real Estate, nor Ed Green, Broker guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. 

Read the full article: Click here.

Even with the drop, the number for Deschutes County new foreclosures are still significant with 304 new foreclosures. ( RealtyTrac defines this as the number of properties that recieved a foreclosure filing -a default notice, auction notice or bank respossession. There were 190 in Bend, 79 in Redmond, 32 in Lapine and 3 in Sisters.

August 2011 Foreclosure Rate Heat Map  Deschutes Co. August 2011

The foreclosure status distribution for Deschutes County was:

In Deschutes County on an average 1 in every 258 housing units recieved a foreclosure filing in August 2011.

The foreclosure rate on the above map is calculated by dividing the total housing units in the city ( bases on the most recent estimate from the US Census bureau) by the total number of properties that received foreclosure filings during the month. (using most recent monthly data available), and that number is expressed as a ratio (i.e. 1 to 100 housing units received a foreclosure filing during the month).  The lower the second number in the ratio, the higher the foreclosure rate. So 1 in 100 is higher than 1 in 1000.     Continue

In this Blog, you will learn about Pickleball, its origins and how it is rapidly becoming a hot sport in Bend. You'll find out how you can check it out first hand at an upcoming event and how to keep tabs on where Pickleballers are playing. CAUTION: Before you realize it, you'll have a paddle in your hand and having great fun and making new friends!

What's Pickleball? Played indoors or out on a court (often we use tennis courts to set up) that is lined off to 44 x 20 feet, it looks a little like tennis, but then look again and you see the pickleballers are using one tennis court to set up two pickleball courts, one each side. In reality, without the tennis net, there would be space for three pickle ball courts on one tennis court. The net is slightly shorter than a tennis net. It is played with a solid wooden or composite material paddle about the size of a racquet ball paddle and with a ball that looks much like a whiffle ball. Learn more at the official site for the USA Pickleball Assn. 

Watch a Video to See Players in Action. 

Why is it called Pickleball? The legend (that is heavily touted to be fact) goes that way back in the 1960's when some friends got together and invented it and their dog Pickles would chase the ball and not bring it back! 

Bend Pickleball Club: Visit Oregon High Desert Pickleball BlogSpot to check out the club site and recent news. Come to an organized play day and borrow a club paddle, join in for some coaching and a lot of fun. Players at all levels of skill show up. 

Who's Playing Pickleball: We have teens to seniors on the courts. Many Snowbirds and RVer play because they get hooked at the resorts that are very prevalent in the southern states. Public and private chools are playing Pickleball and many are using in gyms as an indoor winter sport. 

Where to Play? Check the blog for changes. We've been playing a lot at Mountain High Community on selected days. Quail Park has a permanent Pickleball set up for open play. The Bend Senior Center has organized times for outdoor play and indoor play is coming soon. Contact the Bend Pickleball Club for more information or to be placed on the mailing list - email: bendpickleballclub@hotmail.com

Watch Demos and Try it Out at Bend Park & Recreation's Day of Play! 

Click to Read the Article About Pickleball in the Bend Bulletin.

Built by Monticello Homes this home features tile counters in the kitchen and baths, gas fireplace, all appliances, and exceptional floor plan for all lifestyles and gracious living.  This is a must see, and we are sure this won't last long once it hits the MLS.  Wells Fargo Prequal required  ( available at http://www.bendandbeyond.com/Business-Partners ) and for additional information and photos go to new NW 18th Listing .

For additional  Listing information

 Exceptional Craftsmanship and Quality. Located on the 14th fairway of Lost Tracks Golf Course. Quietly nestled among extensive landscaping accented by water features and  tasteful  paver driveway & walkways. Spectacular living room with Custom built-ins & marble stone fireplace. Porcelain & Travertine flooring & Brazilian granite counter tops. Natural Stone fireplace compliments master suite, including luxurious master bath. Bonus rm w/wet bar, living room, bath & more. 4 car garage room. Seller is OR Broker. sumptuous

For additional Information and maps Click Here

Surrounded by millions of acres of grasslands and wetlands, and hundreds of miles of fishable rivers and streams, with nearly 300-sun-filled days a year to enjoy this embarrasment  of sporting riches,  Bend Oregon tops this years list of best towns this year for sportsmen.

For More

We are a long ways from the normal of yesterday with the number of distressed properties either in today marketplace or sitting   as shadow inventory waiting for the lenders to release the properties for liquidation.

In the June study of  ReatyTrac, one of the nation’s leading statistics evaluator we see Oregon as one of the top states with a high  inventory of these distressed assets.   1 in every 612 housing units received a foreclosure filing in June 2011.  Below is a heat chart of Oregon, by county placing Deschutes County as one of the heaviest hit counties in foreclosure filings within the state.

For buyers, especially first time buyers entering the market, we see home ownership in real estate now a realistic reality as prices have come within qualifying range, aided by the low interest rates of today, Many of the institutional foreclosure owners give these buyers who will be owner occupants a 7 to 15 days window of opportunity not to have to compete with aggressive investors, trying to encourage home ownership and the stabilization of neighborhoods. Deshutes County reflected hardest hit of Oregon counties for foreclosure activity.  continue

$165,000

Come home to your own quiet slice of the beautiful high desert located just minutes from the Deschutes River about 6 miles northwest of Redmond in Tetherow Crossing. This protected small acreage provides the privacy and beautiful landscaping that is precious to many people on the go. Here you will find room to house your RV toys of choice. The home itself has been partially updated which includes an esthetically pleasing tiled solarium that allows you to bring the outside inside for your Central Oregon Lifestyle.

Listing Information

More Information

Bend, Oregon Sold Chart 1-1-2011 thru 6-11-2011-   Total 729 Sold Residences

In Bend the average home sold was  3 bedrooms, 2.36 baths, and 1997 sqft home selling for $ 232,639.00 in an average of 143 days (and 166 days if it took two different listing companies to do the job).  During that same time the Median Price ( where there are the same number of solds above and below) was $183,250, selling in 107 days  (124 if it was a combined days on market ).

Be aware that in the bottom 2 charts the LP (List Price) used is seldom the ORIGNIAL List Price unless the home sold in less than 45 days, as many times these homes enter the market at values sellers want, but not at values the buyers are willing to pay for the property. By the time the home has been on the market for over 90 days there were usually multiple price drops in today’s market.

 After studying the Bend chart it should be easy to see the same information of average sales prices, median sales price, Days on market figures, and the percentage difference from list price to sold price for Redmond, Sisters and Sunriver in the charts below.

Redmond, Oregon Sold Chart 1-1-2011 thru 6-11-2011   Total 292 Sold Residences

Sisters,  Oregon Sold Chart 1-1-2011 thru 6-11-2011   Total  44 Sold Residences

Sunriver, Oregon Sold Chart 1-1-2011 thru 6-11-2011   Total  41 Sold Residences

 Three U.S. congressmen are offering an novel concept when it comes to kick-starting home sales.

A new bill proposed by Reps. Don Manzullo (R-Ill.), Ralph Hall (R-Texas) and Heath Shuler (D-N.C.) will prevent institutions from keeping resolved medical debts on credit reports, where they end up serving as barriers to obtaining a mortgage.

“Medical debt is not a reliable indicator of credit risk, yet nearly a quarter of Americans have seen their credit scores plummet because of small, routine medical bills,” said H.R. 2086 cosponsor Rep. Nydia Velazquez (D-N.Y.), Ranking Member of the House Small Business Committee. “This bill provides a common-sense, simple solution to address this problem now and protect consumers in the future.”

The lawmakers behind the legislation, called the Medical Debt Responsibility Act, want paid medical debts removed 45 days after a full repayment is made. For the complete proposed bill overview  click here...

For additional information 20112 Starfire Ridge

We have seen homebuyers who nearly (or do) ruin their own transaction by doing one of these things. (Not our clients of course!) Here’s a handy list of the Do Not’s. Do you know any others? Please add them to my list.

 What NOT to do after Applying for your New Home Mortgage

After you’ve made application for a mortgage to purchase your New Home, it’s very important that during the loan and closing process you take extra special care of our financial and credit “state of affairs”.

The loan process is just like it sounds.  It’s a process, and it’s not over until your loan closes.  Until then, income, liabilities, and assets will continue to be scrutinized to make sure they fit in with any guidelines established for the particular loan.  All borrowers are different, and none of this is written in stone, but in general it is best to avoid these common mistakes:

• Do not risk making late payments on your mortgage, credit cards, car loans, student loans, rent, etc.  Nothing will drag down your credit scores faster than very recent late payments.  If your new home is being built, you need to be extra careful over these 3-6 months to avoid any late payments.

• Do not take on new debt.  Most lenders will check your credit report just before funding the loan to verify that you have not added any new monthly payments to your overall debt picture.  Car payments, increased credit card balances, etc. can increase your debt ratio beyond the limits allowed by lender.  I know it’s tempting, but its best to wait until after closing to start the shopping spree.

• Do not spend your cash reserves.  While avoiding an increase to your monthly debt payment is important, it’s also a bad idea to use your savings to pay cash for significant items as well.  A lot of loans programs require the borrowers to have a certain amount of reserves after closing.

• Do not change jobs.  I realize sometimes this can be unavoidable, but if at all possible, wait until you've closed.  Lenders verify employment within a day or so of funding the loan and will almost always cancel the deal if your employment has changed.  Switching from one employer to another with the same job description may not guarantee a problem, but stability is the key here.

• Do not switch jobs if the new one is in a completely different field, and do not, under any circumstances, decide to become self-employed or commissioned.  If you do, your income will not be useful for another two years, so stay put if at all possible.

• Do not co-sign for anything.  Many borrowers believe there is no harm in co-signing with the rationale that their son or daughter or whoever – is making the payment, so it doesn't matter.  If your name is attached to a new debt, it will be treated as yours and factored into your debt ratio.

• Do not lease a new car.  This should fall under the “no new debt” category, but for some reason some people get confused about this and think leasing is not the same as buying, so I’m making a separate mention of it here.  The bottom line is it’s still an expense that comes out of your income, so it can still push you over the limit with your debt ratio.  Be patient, wait a few weeks.

• Avoid credit inquiries if you can.  i.e. applying for a new credit card.  Though not as damaging in the past as far as credit score is concerned, a lot of recent inquiries can affect your score.

With Bends listing inventory down, some of Bends established builders are now venturing to build in conservative numbers.  Several major builders, Pahlisch Homes, Hayden Homes have pulled from 6 to 10 permits.  Deborah Flagan, Hayden's Vice President of Sales and Marketing says. "We have just seen a renewed excitement in the city of Bend.  Customers who have been sitting on the fence for a while feel like interest rates are about as low as they are going to be.... and deciding that today is the right time to buy."

Marketing homes for the last 25 years has given me an appreciation for the incredible opportunities of the last year and the incredible interest rates that are currently available.  Now is the time to buy if you are considering a first time purchase, or a move up in home size opportunity at advantageous pricing. This market in an investors dream come true.  Call Me to show you these opportunities.