Living in Bend

Eight Reasons Why Everyone Wants to Live in Bend

1. ENDLESS OPPORTUNITIES FOR OUTDOOR RECREATION

   Whether you are interested in water sports, climbing, mountain biking or hiking, Bend has it all. Just want to explore? Check out the varied landscapes by hiking the Newberry Lava Caves, taking in the high desert mountains at Smith Rock State Park, or enjoying your favorite winter sport at Mt. Bachelor.

2. BEND HAS GREAT WEATHER

   The summers are warm during the day and cool at night and the winters have a crisp high desert spark to them. Puffy jackets and sunglasses are must-haves year round. Three hundred days of sunshine is almost unheard of but not for Bend! Most of our wet days come in the form of snow in winter.

3. LIGHT TRAFFIC

   According to recent U.S. Census Bureau statistics, the average Bend resident’s commute is still around 15 minutes. Thanks to roundabouts and seemingly endless road projects, even though the population in Bend is increasing, Bend traffic is still better than most other large towns.

4. LAID BACK SMALL TOWN ENVIRONMENT WITH FRIENDLY PEOPLE

   People living in Bend understand the balance in working hard and playing hard. It is not uncommon for people to bring their dogs to work and have powder days when Mt. Bachelor has had some good snow. There is a strong sense of community and residents of Bend are known to be extremely friendly and welcoming. Learn more about the Bend Pledge.

5. WE LOVE CRAFT BEER

   People living in Bend take their beer very seriously. With dozens of breweries, it’s no surprise that Bend has been named “Beer Town USA”. With all the wonderful choices, you are sure to find a brewery that fits your taste. If you need a little help selecting one, check out my faves here.

6. PARKS & OUTDOOR SPACES

   Bend has more than 80 local parks throughout the city, which make up 2,600 acres of outdoor space. From dog parks to playgrounds and everything in between, there is a park for everyone and in every part of town.

7. BEND IS A GREAT PLACE TO RAISE A FAMILY

   From the great school system, multitudes of cultural events and resources, outdoor activities, and low crime rates, Bend is a wonderful place to start and raise a family! Check out my blog post on having a baby in Bend.
   

8. TRAVEL WITH EASE

   If you’re looking to travel, the Redmond airport is just 15 minutes from Bend and offers direct flights to several cities on the West coast and Midwest. With short security lines, friendly staff and a full-service restaurant you’ll actually look forward to flying!

Fall Home Tips

Preparing your home for fall and winter is key!

Bend Oregon Real Estate Market Trends

November 2018 Market Report | Bend, Oregon

The real estate market in Bend Oregon has been slowly shifting over the past several months. While larger markets like Portland and California have seen dramatic slow downs in property sales, Bend continues to see stability and slight growth regarding median price. However, the number of homes listed for sale and sold in November were down significantly from the same time last year.

If you’re a buyer in today’s market, you’re likely experiencing a bit of a breath of fresh air compared to buyers in 2017 or even early 2018. For the first time in several years, home buyers don’t have to make decisions on the spot, they have a stronger ability to negotiate on price and seller concessions, and they can be and are being pickier about the home they purchase. It’s not quite a buyer’s market, but it appears to be slowly trending that way. With that said, home buyers are still competing with each other when it comes to homes in lower price ranges where first time buyers and investors are all looking for that perfect property.

If you’re a home seller you’re likely wondering what exactly happened to multiple offers and buyers offering significantly over list price. Right now, sellers are getting fairly close to their asking price, but are likely making more concessions and repairs in order to appease buyers. They’re noticing their home sitting on the market a little longer. Sellers are still getting top dollar for their home when the home is priced correctly and marketed appropriately. It’s a changing market for sellers and one that might take a bit of time to digest.

Homes for Sale November 2018 | 488 Units
Down 7% compared to last year

Homes Sold November 2018 | 181 Units
Down 15% compared to last year

Median Sold Price November 2018| $444,000
Up 10% compared to last year

Months of Inventory November 2018 | 3.2 months
Up 8% compared to last year

Days on Market November 2018 | 116
Up 8% compared to last year

Sales Price as % of List Price | 95%
Down 1%

**all numbers based on single family residential properties under 1 acre in Bend.

Rising Interest Rates' Impact on Central Oregon Home Buyers & Sellers

After several years – with interest rates remaining historically low – rates are on the rise. What will this increase in interest rates mean for buyers and sellers in 2018?

Home prices in Central Oregon have been increasing by more than 10% every year since 2014, yet home buying has remained affordable and attractive, especially for first-time home buyers, due to lower interest rates over the past six years.

With interest rates hovering around 4.5% at the end of February, and additional increases expected from the FED throughout the year, home buyers are looking at reduced buying power throughout 2018. If a home buyer has a budget around $400,000, when interest rates go up by .25 of a point, it lowers buying power by about $15,000. What does that mean? It means that home buyers will have to adjust their purchase price down by $15,000 in order to achieve roughly the same monthly payment. This can be a big deal for first-time buyers whose price points are already right at or below the median sales price in Bend, which is right around $400,000 for a single-family home.

However, while interest rates may seem high, it’s important to remember that 4.5% is still considered historically very low. In the 1980s, interest rates were near 20%! Thankfully, we are a long way off from interest rates becoming that high again.

How will the interest rate increase affect buyers and sellers?

I believe that the Central Oregon housing market will continue to remain strong this spring and summer selling season. The number of new listings in Bend is down 7% in February over 2017 and inventory remains low with only 538 single-family homes available for sale in Bend. Only 225 of those homes are priced under $450,000. With historically low median days on market (the median in Bend is currently 60 days), and an increase in relocation buyers, finding an affordable home without competing with other buyers might prove difficult. While home buyers may need to adjust their desired price range slightly, there is still an opportunity to find a great home, even with rising interest rates.

Are you interested in what your home could be worth this spring? I’d be happy to sit down and provide a personalized market report for you. If you’d like to purchase a home in Central Oregon, let’s discuss how I can help you buy successfully in this competitive market.

Fall Home Maintenance Tips

It's that time of year! Fall is a great time to check your home to ensure it's ready for the colder winter months. Below is a list of recommendations for preparing your home so that you stay warm, dry & cozy! 

Central Oregon Fall Activities

From hiking to enjoying your favorite cup of coffee, it’s easy to take advantage of the fall season and everything it offers. Here are a few activities to enjoy the cooler weather, beautiful scenery, and the great community around Central Oregon.

Oktoberfest

To kickoff the fall season, Bend is holding it’s annual Oktoberfest on September 15th & 16th, 2017. Beer, food, wine, cider, music, quirky games, and much more is there for you to enjoy during the free event. This is a great way for local businesses to promote their services and products and for visitors to have a good time.

Rock Climbing

The climbing scene in Central Oregon is undeniably great no matter the season, but the fall offers weather for the best days. Smith Rock is the ultimate place to go and has all levels of climbing, from beginner to extreme. But if the weather isn’t cooperating or you’re really new to climbing, Bend Rock Gym is a great place to spend the day. They have a great staff that’s always willing to help give pointers and offer lessons.

Mountain Biking

With the cooler weather, the fall makes for some of the best mountain biking around Central Oregon. There are many popular local areas to visit (check out the list here) or you can head over to Mt. Bachelor Bike Park which has over 13 miles of downhill trails. Traveling or don’t have a bike? No worries, Mt. Bachelor has a fleet of bikes you can rent and there are also a handful of bike shops in Bend that offer tours and rentals, such as, Pine Mountain Sports and Cog Wild.

Metolius River

Central Oregon is full of gorgeous places, and there are some spots out there during the fall season with lots of changing colors you have to check out. Located just north of Sisters is the beautiful Metolius River, great for hiking, fly fishing, and enjoying a beautiful autumn day. In Bend, the Pilot Butte trail is a great hike and offers miles of views.

Beer

Central Oregon has a great selection of local brews and fall also offers a few awesome seasonal beers. Maps for the Bend Ale Trail are available at the Bend Visitor Center where you can get all the stamps and claim your prize. The Brew Bus is a great and fun way to travel around the breweries around Bend too!

Thrifting

If you enjoy shopping or an interesting activity on a rainy day, then thrifting might be your answer. Bend is full of awesome thrift shops to add a little spice to your spaces. The Humane Society Thrift is a good choice knowing proceeds are going to the local animal shelter. Other local thrift shops that are great for finding treasures include City Thrift, Possibilities, and Starburst. Gear Fix is also a great resale shop for used outdoor equipment.

Coffee

There’s something about cozying up in your favorite sweater and drinking a delicious warm drink. Thump Coffee, Backporch, Lone Pine, and Megaphone all roast their beans locally. In addition to those selections, there are many more wonderful local coffee shops in Bend that offer a different vibe, perfect for a cool autumn day. If you're not a coffee drinker, but are looking for a cozy spot to enjoy a cup of tea, Townshend's Tea downtown offers a warm atmosphere complete with couches and comfy chairs.

To learn more about everything Central Oregon has to offer, check out my relocation guide or give me a call - 541.728.3356. 

Original blog post by Cascade Sotheby's International Realty.