According to the National Association of Homebuilders (NAHB) annual Priced-Out Estimates released earlier this month, 71.5% of Bend residents have been priced out of the Bend real estate market based on a median priced home of $409,281. The household income needed to qualify would be $102,710.  Although the NAHB figures are fairly recent, this number is roughly 73% since the median price of a home in Bend today is closer to $520,000. And for every $5000 increase in the median price for a Bend home, another 700 local residents will be priced out of this market.

These Bend numbers are higher than the national median home price of $346,757, resulting in about 75 million households, or roughly 60% of all U.S. residents, being priced out of the...

Click Here to Read More...

What's in the March 2021 Newsletter?

• Bend Real Estate Sales Remarkable in February 2021
• Hot Interior Design Colors For Oregon in 2021
• Is Bend Becoming the Next Aspen?
• A Perfect Taste of Something New
• How to Prepare Your House for a Perfect Sale This Spring

Bend Real Estate Sales Remarkable in February 2021

It has been a full year since the Covid-19 pandemic hit America and the resulting Stay at Home orders were implemented in most states. When the pandemic first came to the Bend real estate market, we thought that sales would be impacted negatively - and this was the case initially. When businesses shut their doors and laid off employees, brokerages followed suit and turned to the internet and virtual connections with clients.  Within Bend Premier Real Estate, the use of our Matterport 3D tours became a major tool to enable buyers to "see" homes without actually entering the property. Bend Premier brokers looked to utilize virtual tools as much as possible to keep business going.

However, unexpectedly Bend real estate sales started to soar with lack of inventory the number one impediment. Buyers from large cities discovered that working from home opened avenues for relocating to a new home that fit a chosen lifest...

Click Here to Read More...

Affordable Housing an Issue with Both Aspen Colorado and Bend Oregon

The question of affordability of housing in Bend has been around for quite some time with many jokingly asking the question "is Bend becoming the next Aspen?" Now granted Bend is a much bigger city than Aspen, and the average home price in Aspen is much higher, but there are some striking similarities between the two places when you look at these four leading indicators:

•       Listing inventory is down dramatically in both locations with Aspen homes for sale ↓ 34% to 371 homes, while Bend homes for sale is ↓ 84.1% to only 89 homes.*
•       Average days on market in Aspen is actually up↑ 16% to 208 days, while in Bend we are ↓ 86.2% to historic lows of just 12 days.
•       Average sales price in Aspen is ↓ 10% to still an impressive $3,673,560, while in Bend our sales price is ↑28.2% to $666,293.
•       The number of new listings in...

Click Here to Read More...

What's in the February 2021 Newsletter?

• Bend Real Estate Sales Hit Record Highs in January 2021!
• For an Easy Hike in the Desert Try Fort Rock Loop
• 3 Reasons We're Definitely Not in a Housing Bubble
• Wishing for Warm Sands, Cerveza and Tacos?