The Bratton Report for September 2012 is ready for you…

This month’s Bratton Report is similar in content to the Duke Warner Realty Market Trends Report. The combined information from both reports shows a picture of a real estate market were some key indicators are down for the month after two months of steady growth. The slowdown is about a month early when compared to previous years.

In this Bratton Report we find that the median price of homes in the Bend, Oregon market has fallen, the days on the market have increased and the number of sales for the month has fallen. The September numbers are more typical of what we traditionally see in October.

After rising the past two months the median price of a home here in Bend has shrunk back to $220,000. This is a level seen many times over the past few years, though at that those times it had been the high mark for those respective periods. Fall of the last four years has led the way for a decline in the median that last until the first of the year. This annual hibernation has averaged a decline of 20%. Should the pattern hold, we should see a median sale price around $175,000 by December.

Once the distraction of the holidays and election season have passed expect the pricing along with the other market indicators slowly build until the spring months when the market should accelerate building to the summer highs. This is a trend that has held true all but a very few years regardless of the economic or political climate. The exception being the red hot winter market of 2005 which heralded market conditions that hopefully will not be seen anytime soon.

My expectations are that when the market returns for its annual upturn after the first of the year we will see continued strength in our market. Bend, Oregon is and always will be a place where folks want to live and play. This desirability will keep us on a trajectory of having a sustainable even growth real estate market.

For more information on today’s market conditions or to list/sell your property fell free to contact me.

Duke Warner Realty Market Trends Report for Bend, Oregon September 2012…

Across the board fewer is the key word for this Septembers Duke Warner Realty Market Trends Report.


The Bend market as a whole saw a dramatic decrease in the number of new listings that came into the market this past month. September dropped to 115 new listings the third fewest new listings to enter the market in the past three years. To contrast there have been upwards of 180 new properties entering the market every month since last March.

Sold and pending sales numbers for the month of September also cooled off a bit from the previous months. The $325,000 - $525,000 price range experienced a 46% decline from the previous month. This same class of properties had fewer new and active listings. This drop may be attribute to tighter underwriting standards for mortgages making it harder for folks to qualify for funding of these purchases. With the difficult time financing their next purchase, these same buyers are reluctant to put their current homes on the market.


In the still smokin’ hot $125,000 - $225,000 market there appears to be more cash buyers who are investors that do not have the same issues in funding. These cash buyers have been making it a challenge for first time home buyers to purchase due to the slower timeline of having to involve their lender. The homes in this class make a lot of sense to investors as they pencil out well for rental properties which remain in high demand.


A continued decrease in the number of available distressed properties will only add to the current inventory woes. The number of bank owned homes in Bend that have been recorded with Deschutes County is at the lowest point in the last twelve months of 73 properties. This number has been on a constant decline since January of this year. In tandem with this number is the decrease in the number of homes entering foreclosure, this while the number of rescissions for Notices of Default has doubled from the previous months. This trend may attributed to the failure of Oregon SB 1552 to gain traction with the larger lenders and recent circuit court rulings requiring lenders to document the chain of title.


Coming up in a few days will be the Bratton Report for the Bend real estate market, I would expect that that report will reflect the same trends as found here in the Duke Warner Realty Market Trends Report.

Feel free to contact me for a more thorough discussion about today’s real estate market in Bend and how it could affect your decisions to enter the market now or in the future.

Summer Sales on Bend’s West side were rockin’ this past summer…

The West side of Bend encompasses a great area of Bend with many outstanding neighborhoods. For the sake of this report I have limited the information here to the flats of the west side. The borders run from NW Ogden Ave on the north, the Deschutes River to the east, SW Simpson to the south and roughly NW 17th to the west.


While sales this year compare favorably to last year’s in the number of homes that were sold, there was a decrease in the average and median price of the homes sold. The median sale price dropped by $22,000, while the average sale price dropped by $43,000. This is surprising considering the lack of consistent available inventory for sale which usually sends prices higher.

Also puzzling in the price break down is that we had considerably more distressed properties on the market last year. Distressed homes are notorious for selling below the market averages. As of the time of this writing time there are no actively listed distressed properties. We have seven pending sales that are distressed properties and over the course of the summer there have only been four properties that have sold that would be considered distressed (bank owned or short sale properties).

The drop off in distressed properties this summer could be chalked up to the passage of Oregon SB 1552 which requires the larger lenders to mediate a reasonable solution with the distressed homeowner and a recent Oregon Circuit Court ruling that judged that lenders must be able to document the chain of ownership of the lien (loan). So far according to the mortgage brokers that I have spoken with, the big boys have decided not participate in SB 1552 as the rules are too vague and the bill does not have strong enough measures to compel the lenders to partake.

So while the cat is away most of us are enjoying the wave of traditional sales. It is amazing how much easier it makes the process of buying (or selling) a home. The biggest hurdle right now to homeownership is qualifying for today’s unheard of low mortgage rates. Mortgage brokers today have been pulling their hair out with the constant revisions in loan underwriting standards. As with most things in life when the pendulum swings to far one way it is sure to go just as far the other direction. Where previously all one had to do to get a loan was be a warm body now they one might be chilled by all of the hoops one is required to jump through to get there loans.

Regardless of the process I strongly recommend that if you are thinking of owning property in Bend today’s market is about as good as it gets. If you are looking to sell or would like to buy feel free to contact me for a no obligation conversation of how the market would work out for you.


Sold

NW Cumberland Ave    2 bedrooms     1 bathrooms      763 square feet    
   acres 0.130    year built 1922              $109,900 list price        $121,000 sold
NW Federal St             1 bedrooms      1 bathrooms      624 square feet    
   acres 0.120    year built 1932              $179,000 list price        $160,000 sold
NW 12th St                 4 bedrooms      1 bathrooms    1732 square feet    
   acres 0.340    year built 1922              $189,000 list price        $170,000 sold
NW 3rd St                   2 bedrooms      1 bathrooms      780 square feet   
   acres 0.130    year built 1919              $189,000 list price         $184,000 sold
NW Portland Ave         3 bedrooms      2 bathrooms     2100 square feet   
   acres 0.250    year built 1940              $245,900 list price         $185,000 sold
NW 14th St                 2 bedrooms      1 bathrooms     1142 square feet   
   acres 0.110    year built 1929              $194,900 list price         $188,000 sold
NW Elgin Avenue         2 bedrooms      2 bathrooms      890 square feet   
   acres 0.136    year built 1928              $215,000 list price        $215,000 sold
NW Lexington Ave       3 bedrooms      2 bathrooms     1216 square feet    
   acres 0.110    year built 1992              $225,000 list price         $225,000 sold
NW 12TH St                3 bedrooms     1.75 bathrooms 1456 square feet    
   acres 0.110    year built 1974              $249,900 list price         $225,000 sold
NW Baltimore Ave        2 bedrooms     2 bathrooms      1172 square feet    
   acres 0.130    year built 2001              $225,000 list price         $225,000 sold
NW 4th St                   2 bedrooms     1 bathrooms      1078 square feet     
   acres 0.140    year built 1922              $244,900 list price         $230,000 sold
NW Federal                 3 bedrooms     1.50 bathrooms  1388 square feet    
   acres 0.115    year built 1946              $245,000 list price         $239,000 sold
NW Elgin Ave              3 bedrooms     1 bathrooms        980 square feet    
   acres 0.110    year built 1984              $239,500 list price         $240,100 sold
NW Element                3 bedrooms     2.50 bathrooms  1517 square feet    
   acres 0.080    year built 2012              $245,000 list price         $250,000 sold
NW Milwaukee Ave       2 bedrooms     2 bathrooms      1217 square feet    
   acres 0.070    year built 1995              $259,000 list price         $254,000 sold
NW Union St               2 bedrooms      2 bathrooms      1500 square feet    
   acres 0.110    year built 1920              $269,000 list price         $255,000 sold
NW Ithaca Ave            4 bedrooms      3 bathrooms      1972 square feet    
   acres 0.130    year built 1996              $262,450 list price         $262,450 sold
NW Milwaukee Ave      2 bedrooms      2.50 bathrooms 1214 square feet    
   acres 0.070    year built 2002              $265,000 list price         $265,000 sold
NW 7th St                   3 bedrooms      2 bathrooms     1508 square feet    
   acres 0.160    year built 1920              $265,000 list price         $265,000 sold
NW Davenport Ave      3 bedrooms      2 bathrooms     1487 square feet    
   acres 0.140    year built 1996              $249,900 list price        $267,000 sold
NW Albany Ave           3 bedrooms      2 bathrooms     1192 square feet    
   acres 0.130    year built 1923              $239,500 list price        $270,000 sold
NW 4th St                   2 bedrooms      2 bathrooms     1256 square feet    
   acres 0.110    year built 1922              $285,000 list price        $272,000 sold
NW Elgin Ave              3 bedrooms      2 bathrooms     1224 square feet    
   acres 0.115   year built 1996               $275,000 list price        $272,000 sold
NW Newport Hills Dr    3 bedrooms      2 bathrooms      1720 square feet   
   acres 0.210    year built 2012              $279,900 list price        $285,000 sold
NW Newport Ave         3 bedrooms      2 bathrooms     1350 square feet    
   acres 0.150    year built 1920              $299,900 list price        $285,000 sold
NW Elgin Ave              3 bedrooms      0 bathrooms     1365 square feet    
   acres 0.140    year built 1995              $289,000 list price        $289,000 sold
NW Cumberland Ave    3 bedrooms      2 bathrooms     1386 square feet    
   acres 0.115       year built 1925           $289,900 list price        $289,900 sold
NW Element                3 bedrooms      2.50 bathrooms 1718 square feet    
   acres 0.115      year built 2012            $295,000 list price        $295,000 sold
NW Criterion               4 bedrooms      2.50 bathrooms 2162 square feet    
   acres 0.100    year built                      $315,000 list price        $315,000 sold
NW Hartford Ave         3 bedrooms      2 bathrooms      1224 square feet    
   acres 0.180    year built 1965              $325,000 list price        $318,000 sold
NW Rockwood             4 bedrooms      2.50 bathrooms 2335 square feet    
   acres 0.230    year built 1996              $315,000 list price        $321,000 sold
NW Knoxville Blvd        5 bedrooms      2.75 bathrooms 2806 square feet    
   acres 0.210  year built 1996                $345,000 list price        $323,500 sold
NW 18th St                 3 bedrooms      2 bathrooms      1873 square feet    
   acres 0.270    year built 1995             $349,900 list price         $325,000 sold
NW Newport Hills Dr    3 bedrooms      2 bathrooms      1877 square feet    
   acres 0.130    year built 1995              $329,000 list price        $329,000 sold
NW Albany Ave           3 bedrooms       2.50 bathrooms 2238 square feet    
   acres 0.205    year built 1997              $350,000 list price        $339,000 sold
NW Stannium Road      3 bedrooms      2 bathrooms     2061 square feet    
   acres 0.210    year built 1998              $350,000 list price        $340,750 sold
NW Baltimore Ave        4 bedrooms      3 bathrooms     2439 square feet    
   acres 0.130    year built 2003              $369,900 list price        $369,900 sold
SW Allen Road             3 bedrooms      2.50 bathrooms 2014 square feet    
   acres 0.150    year built 1998              $389,000 list price        $389,000 sold
NW Baltimore Ave        5 bedrooms      3.50 bathrooms 3562 square feet    
   acres 0.130    year built 2006              $399,000 list price        $399,000 sold
NW Hill Point Dr          4 bedrooms      3 bathrooms       2842 square feet    
   acres 0.270    year built 1996              $419,000 list price        $409,000 sold
NW Harmon                4 bedrooms      2.75 bathrooms 2200 square feet    
  acres 0.115   year built 1992                $465,000 list price        $426,000 sold
NW 18th St                  5 bedrooms     4 bathrooms      4397 square feet    
   acres 0.390    year built 1998              $559,999 list price        $560,000 sold
NW Kingston Ave          6 bedrooms     4.50 bathrooms 3495 square feet    
   acres 0.400    year built 2003              $595,000 list price        $595,000 sold
Listing Count 43
Averages 1,732 square feet, $179.21 price per square foot,
   121/121 days on market,    $295,264 list price           $289,363 sold price
High 595,000                  Low 121,000                      Median 272,000

Pending

NW Precision               3 bedrooms      2.50 bathrooms 1718 square feet
  acres 0.110    year built 2012               $318,750 list price
NW 18th Ave               4 bedrooms       2 bathrooms     2248 square feet
   acres 0.210    year built 1994              $328,000 list price
NW Newport Ave         3 bedrooms       2.50 bathrooms 1724 square feet
   acres 0.110    year built 2012              $329,900 list price
NW Criterion               3 bedrooms       2.50 bathrooms 1718 square feet
   acres 0.120    year built 2013              $341,200 list price
NW Federal St              2 bedrooms      2 bathrooms     2376 square feet
   acres 4792    year built 1920                $425,000 list price
NW Troon Blvd            4 bedrooms      3 bathrooms     2429 square feet
   acres 0.200    year built 2012               $470,000 list price
Listing Count 27
Averages 1,635 square feet, $170.87 price per square foot,
   98/103 days on market,    $273,556 list price
High 470,000                   Low 135,000                       Median 282,000

Active

NW Newport Ave          3 bedrooms       1 bathrooms       855 square feet
   acres 0.110    year built 1920                $179,900 list price
NW 14th St                  4 bedrooms       1 bathrooms     1440 square feet
  acres 0.230    year built 1935                 $199,900 list price
NW Lexington Ave        3 bedrooms       1 bathrooms     1332 square feet
   acres 6098   year built 1937                  $229,000 list price
NW Fresno Ave            3 bedrooms        1 bathrooms    1120 square feet
   acres 0.120    year built 1916                $229,000 list price
NW Awbrey Road         3 bedrooms        1 bathrooms    1129 square feet
   acres 0.130    year built 1950                $307,000 list price
SW Knoll Ave               3 bedrooms        3 bathrooms     2259 square feet
   acres 11800    year built 1976               $313,900 list price
NW Kingston Ave          3 bedrooms       2 bathrooms     1596 square feet
   acres 0.140    year built 1980                $315,000 list price
NW Precision                3 bedrooms       2.50 bathrooms 2162 square feet
   acres 0.100    year built 2012                $319,000 list price
NW Union St                3 bedrooms        2.50 bathrooms  896 square feet
   acres 0.110    year built 2012                $329,000 list price
NW Albany Ave            3 bedrooms        3 bathrooms     2261 square feet
   acres 0.130    year built 1936                $345,000 list price
NW Criterion                3 bedrooms        2.50 bathrooms 2328 square feet
   acres 0.090    year built 2012                $345,000 list price
NW Rockwood Lane      4 bedrooms        3.50 bathrooms 2880 square feet
   acres 0.280    year built 1996                $350,000 list price
NW Newport Ave          3 bedrooms        2.50 bathrooms 2028 square feet
   acres 0.260    year built 1999                $364,900 list price
NW Federal St              3 bedrooms        1 bathrooms      1268 square feet
   acres 0.190    year built 1948                $375,000 list price
NW 17th St                  4 bedrooms        2.50 bathrooms 2642 square feet
   acres 0.170    year built 1998                $434,900 list price
NW Albany Ave            3 bedrooms        2.50 bathrooms 2000 square feet
   acres 5500    year built 2012                 $499,950 list price
NW Elgin Ave               3 bedrooms       2.50 bathrooms 2751 square feet
   acres 0.110    year built 2012               $559,950 list price
NW 17th St                  5 bedrooms       4.50 bathrooms 4312 square feet
   acres 0.260    year built 1999              $599,900 list price
NW Harmon Blvd          3 bedrooms       2.50 bathrooms 2712 square feet
   acres 0.190    year built 1992              $888,000 list price
NW Allen Road             3 bedrooms       3.50 bathrooms 2800 square feet
   acres 0.220    year built 2012             $1,195,000 list price
Listing Count 20
Averages 2,089 square feet, $203.22 price per square foot,
   79/79 days on market,    $418,965 list price
High 1,195,000                Low 179,900                     Median 345,000

Featured properties may not be listed by the office/agent presenting this blog.

Information has not been verified, is not guaranteed and is subject to change.
Source Central Oregon Realtors Association multiple listing service.

Classic West Hills Homes Have a Solid Summer of Sales…

Before there was Awbrey Butte the neighborhood, which was developed by Brooks Resources in the late 1980’s, there was the West Hills neighborhood. This is old school Bend, an eclectic blend of homes many with views south over the city and out to the Paulina’s with Mt. Bachelor in the wings. In the West Hills it is not uncommon to have a vintage early sixties home next to a newer contemporary home. Homes in the West Hills average around 1600 - 2800 square feet on lots that can be a quarter acre or better. With towering pines, natural rock out croppings and plenty of space it is not uncommon to find deer grazing in your front yard with quail scurry about. The neighborhood has been popular for those who want a large lot and do not mind refurbishing their new home.

With its close proximity to the downtown core and easy access to outdoor recreation, this has become a favorite neighborhood for many. Always a favorite with West Hills dwellers is the Newport Market and Devores Good Food Store both known as a favorite for “foodies”, supporting Newport Market is a small retail district with the immensely popular Backporch Coffee Roasters and Nancy P’s bakery. Need your bike tuned or a new pair of Nordic skis, Sunnyside Sports is just down the hill. Dinner or lunch beckons try Kebaba or Kanpai. Just across the street satisfy your sweet tooth with Cuppa Yo frozen yogurt.

Two of the cities popular magnet schools Highland at Kenwood and Westside Village are close by and Central Oregon Community College sits adjacent the neighborhood.

As seen below this past summer reflects the popularity of homes on the lower part of Awbrey Butte. Currently most of the less expensive homes have sold or are in a pending sales status. There is a good variety of homes on the market right now everything from homes that need updating to homes that need very little. My favorite is on West Hills Ave. a fantastically refurbished ranch home with plenty of space and character.

If you are interested in learning more about Awbrey Butte or touring some the homes listed below feel free to contact me.



Sold

NW Awbrey Road      2 bedroom, 2 bathrooms, 1056 square feet,
    acres 0.170, year built 1977,  $180,000 list price, $172,600 sold price
NW 3rd St                2 bedroom, 1 bathrooms, 780 square feet,
    acres 0.130, year built 1919 , $189,000 list price, $184,000 sold price
NW Awbrey Road      3 bedroom, 2 bathrooms, 1152 square feet,

    acres 0.320, year built 1974 , $219,500 list price, $210,000 sold price

NW 4th St                2 bedroom, 1 bathrooms, 1078 square feet,
    acres 0.140, year built 1922 , $244,900 list price, $230,000 sold price
NW Portland Ave      3 bedroom, 2.50 bathrooms, 1949 square feet,
    acres 0.280, year built 2001 , $269,000 list price, $264,700 sold price
NW 5th St                3 bedroom, 2.50 bathrooms, 1783 square feet,
    acres 0.190, year built 1990 , $279,500 list price, $265,900 95.13
NW Trenton Ave       4 bedroom, 3 bathrooms, 2263 square feet,
    acres 0.260, year built 1990 , $310,000 list price, $290,000 sold price
NW Iowa                 4 bedroom, 2.75 bathrooms, 2208 square feet,
    acres 0.320, year built 1959 , $325,000 list price, $312,000 sold price
NW 5th St                3 bedroom, 1.75 bathrooms, 1924 square feet,
    acres 0.190, year built 1986 , $325,000 list price, $336,000 sold price

NW Vicksburg Ave    3 bedroom, 2 bathrooms, 1830 square feet,

    acres 0.290, year built 1997 , $359,000 list price, $344,000 sold price
NW Rimrock Road     4 bedroom, 2.50 bathrooms, 2732 square feet,
    acres 0.530, year built 1975 , $460,000 list price, $440,000 95.65
NW Rimrock Road     3 bedroom, 3 bathrooms, 3843 square feet,
    acres 0.250, year built 1979 , $470,500 list price, $470,000 sold price
NW West Hills Ave    3 bedroom, 3.50 bathrooms, 2990 square feet,
    acres 0.310, year built 2003 , $515,000 list price, $500,000 sold price

Listing Count 14
Averages 1,899 square feet, $165.18 price per square feet,
     200/222 days on market, $306,886 list price, $297,800 sold price
High $500,000           Low $150,000               Median $277,950

Pending

NW 12th St            4 bedroom, 1 bathrooms, 1732 square feet,
     acres 0.340, year built 1922 , $189,000 list price
NW 2nd St             2 bedroom, 1 bathrooms, 1506 square feet,
     acres 0.120, year built 1930 , $190,000 list price
NW 4th St              2 bedroom, 2 bathrooms, 1256 square feet,
     acres 0.110, year built 1922 , $285,000 list price

Listing Count 3
Averages 1,498 square feet, $154.06 price per square feet,
     127/127 days on market, $221,333 list price

High $285,000           Low $189,000             Median $190,000

Active

NW Vicksburg Ave   4 bedroom, 3 bathrooms, 2086 square feet,
     acres 0.320, year built 1961 , $299,900 list price
NW Trenton Ave     3 bedroom, 3 bathrooms, 2068 square feet,
     acres 0.242, year built 1977 , $314,900 list price
NW Saginaw Ave     2 bedroom, 3 bathrooms, 2011 square feet,
     acres 0.150, year built 2000 , $340,000 list price
NW Trenton            3 bedroom, 2 bathrooms, 1994 square feet,
     acres 0.280, year built 1920 , $364,500 list price

NW Iowa Ave          3 bedroom, 2 bathrooms, 2706 square feet,

     acres 0.330, year built 1985 , $375,000 list price

NW Cascade View    3 bedroom, 3 bathrooms, 2508 square feet,

     acres 0.309, year built 1972 , $439,500 list price

NW West Hills Ave   4 bedroom, 2.50 bathrooms, 2944 square feet,

     acres 0.309, year built 1974 , $469,900 list price

NW Rimrock Road   4 bedroom, 3 bathrooms, 3900 square feet,

     acres 0.287, year built 1975 , $849,000 list price

Listing Count 8

Averages 2,527 square feet, $167.38 price per square foot, 177/204 days on market,

$431,588 list price

High $849,000           Low $299,900           Median $369,750

Featured properties may not be listed by the office/agent presenting this blog.

Information has not been verified, is not guaranteed and is subject to change.
Source Central Oregon Realtors Association multiple listing service.

Awbrey Butte Summer Sales Increase…

Perch high above Bend on Awbrey Butte is one of Bend’s most exclusive neighborhoods. With drop dead larger than life views of the Cascade Mountains to the west, Mt. Bachelor to the Paulina’s to the south, and the high desert buttes to the north and east. The neighborhood of Awbrey Butte features elegant homes on lots of an acre or more with an emphasis on retaining the natural features found on the property. Thus lending to a spacious natural feel with an abundance of wildlife in the neighborhood. The homes of Awbrey Butte are often spectacular built by some of Bend’s best craftsmen.


With so much to offer it is not a surprise that there has been a rebound in the sales of these amazing homes. The summer of 2012 saw the amount of homes sold double from 2011. This is one neighborhood were inventory is not a concern. There is a wealth of very nice homes to choose from they range in price $374,500 to $1,999,000. Homes on Awbrey Butte trend toward having plenty of space with the smallest of homes coming in at just above 2000 square feet and usually on no less than just under a half acre. Just in case you cannot find the right home for you there are several excellent lots available to build your dream home.

If you are interested in learning more about Awbrey Butte or touring some the homes listed below feel free to contact me.


Sold

NW Lucas Ct           3 bedrooms, 2.50 bathrooms 3042 square feet,
   acres 0.280    year built 2004        $299,900 list price    $300,000 sold price
NW Summit Dr        3 bedrooms, 2.50 bathrooms 2532 square feet,
   acres 0.420    year built 2001        $449,000 list price    $420,000 sold price
NW Keenan Ct         3 bedrooms, 3.50 bathrooms 2640 square feet,
   acres 0.590    year built 1995        $500,000 list price    $450,000 sold price
NW Redfield Circ      4 bedrooms, 2.50 bathrooms 2978 square feet,
   acres 0.400    year built 1997        $514,900 list price    $485,000 sold price
NW Colonial Dr        4 bedrooms, 3.50 bathrooms 2854 square feet,
   acres 0.980    year built 2004        $495,900 list price    $500,000 sold price
NW Windwood         5 bedrooms, 3.50 bathrooms 4894 square feet,
  acres 0.490    year built 2000        $750,000 list price    $742,500 sold price
NW Perspective Dr    4 bedrooms, 4.50 bathrooms 4200 square feet,
   acres .0624    year built 2004        $785,000 list price    $760,000 sold price
NW Three Sisters Dr 3 bedrooms, 3.50 bathrooms 3975 square feet,
   acres 0.920    year built 1993        $849,500 list price    $800,000 sold price
NW Panorama Dr     4 bedrooms, 3.50 bathrooms 3947 square feet,
   acres 0.580    year built 2002       $825,000 list price    $815,000 sold price
NW Remarkable Dr   3 bedrooms, 2.50 bathrooms 5123 square feet,
   acres 0.520    year built 2002       $998,000 list price    $940,000 sold price
NW Metke                4 bedrooms, 4.50 bathrooms 5485 square feet,
   acres 0.620    year built 2005       $949,000 list price    $975,000 sold price
NW OKane Ct           4 bedrooms, 4.50 bathrooms 5499 square feet,
   acres 1.920    year built 1994    $1,500,000 list price  $1,390,000 sold price

Listing Count 12
Averages 3,931 square feet, $177.29 price per square foot,
132/149 days on market $743,017 list price $714,792 sold price
High 1,390,000      Low 300,000      Median 751,250


Pending

NW Goodwillie Ct      4 bedrooms, 2.50 bathrooms 2855 square feet,
   acres 0.450   year built 2001          $367,500 list price
NW Redfield Circ       3 bedrooms, 3.50 bathrooms 2469 square feet,
   acres 0.400   year built 1997          $370,000 list price
NW Promontory        4 bedrooms, 2.50 bathrooms 2778 square feet,
   acres 0.790   year built 1990          $405,000 list price
NW Winslow Dr        3 bedrooms, 2.50 bathrooms 2865 square feet,
   acres 0.580   year built 1995          $469,000 list price
NW McCook             4 bedrooms, 4 bathrooms      5000 square feet,
   acres 0.610   year built 1999          $775,000 list price
NW Starview Dr        3 bedrooms, 3.50 bathrooms 4331 square feet,
   acres 1.290   year built 2002          $895,000 list price
NW Three Sisters Dr 4 bedrooms, 3.50 bathrooms 4600 square feet,
   acres 1.600   year built 2012          $1,195,000 list price
Colver Ct                 5 bedrooms, 6 bathrooms      6118 square feet,
   acres 0.870   year built 2007 $1,600,000 list price

Listing Count 8
Averages 3,877 square feet, 183.88 price per square foot,
176/183 days on market, $759,563 list price
High 1,600,000      Low 367,500      Median 622,000


Active

NW Redfield Circ       4 bedrooms, 2.50 bathrooms  2213 square feet,
   acres 0.410   year built 1996           $374,500 list price
NW McCook             4 bedrooms, 3 bathrooms       3874 square feet,
   acres 0.670   year built 2000           $424,900 list price
NW Summit Dr         4 bedrooms, 3 bathrooms       2251 square feet,
   acres 1.360   year built 1995           $539,950 list price
NW Peoples Ct         4 bedrooms, 3.50 bathrooms  3616 square feet,
   acres 0.750   year built 1990           $575,000 list price
NW Pickett Ct          4 bedrooms, 3.50 bathrooms  3525 square feet,
   acres 1.150   year built 1994           $585,000 list price
NW Foley Ct            4 bedrooms, 2.50 bathrooms  3146 square feet,
   acres 0.630   year built 1994            $620,000 list price
NW Farewell Dr        3 bedrooms, 2.50 bathrooms  3115 square feet,
   acres 0.700   year built 2000           $625,000 list price
NW Farewell Dr        5 bedrooms, 3.50 bathrooms  3740 square feet,
   acres 0.900   year built 1990            $639,000 list price
NW Promontory Dr   4 bedrooms, 3.50 bathrooms  4080 square feet,
   acres 1.050   year built 1996           $683,000 list price
NW Winslow Dr        3 bedrooms, 3.50 bathrooms  3096 square feet,
   acres 0.500   year built 2005           $695,000 list price
NW Redfield Circ      3 bedrooms, 2.50 bathrooms  3839 square feet,
   acres 0.760   year built 2002          $699,000 list price
NW Overlook Dr       4 bedrooms, 2.50 bathrooms  4536 square feet,
   acres 0.800   year built 2005           $699,000 list price
NW Promontory Ct    5 bedrooms, 3 bathrooms      4288 square feet,
   acres 0.820   year built 1997           $700,000 list price
NW Duffy Dr             4 bedrooms, 3 bathrooms      3550 square feet,
   acres 0.560   year built TBB             $789,000 list price
NW Twilight Dr         3 bedrooms, 3 bathrooms      4003 square feet,
   acres 1.220   year built 1995           $849,900 list price
NW Windwood Way   4 bedrooms, 2.50 bathrooms 4274 square feet,
   acres 1.170   year built 2005           $895,000 list price
NW Remarkable Dr    4 bedrooms, 4 bathrooms      4200 square feet,
   acres 0.460   year built 2012           $945,000 list price
NW Healy Ct             3 bedrooms, 3.50 bathrooms 3299 square feet,
   acres 0.890   year built 2005        $1,065,000 list price
NW Archie Briggs Rd 4 bedrooms, 3.50 bathrooms 5280 square feet,
   acres 0.650   year built 2003        $1,195,000 list price
NW Overlook Dr        3 bedrooms, 4.50 bathrooms 3668 square feet,
   acres 0.500   year built 2007        $1,225,000 list price
NW Starview Dr        4 bedrooms, 3.50 bathrooms 6079 square feet,
  acres 1.340   year built 1996        $1,899,000 list price
NW Three Sisters Dr  4 bedrooms, 4.50 bathrooms 3186 square feet,
   acres 0.920  year built 1992        $1,999,000 list price

Listing Count 22
Averages 3,766 square feet, $227.07 price per square foot, 175/264 days on market,
   $850,966 list price
High 1,999,000      Low 374,500       Median 699,000

Featured properties may not be listed by the office/agent presenting this blog.

Information has not been verified, is not guaranteed and is subject to change.
Source Central Oregon Realtors Association multiple listing service.

Bend Oregon's Skyliner Summit Summer Activity…

Slowly Skyliner Summit has been clearing out what had been a heavy load of distressed properties. Ironically of the eight homes sold this summer all were traditional sales. Currently of the homes actively listed two are distressed properties, the other four are traditional sales. Most all of the homes offered in Skyliner Summit have larger foot prints and run above 3000 square feet in size. This makes the neighborhood great for families needing lots of room.

Skyliner Summit is centrally located on the west side of Bend. As with other popular west side neighborhoods access to the Phil’s Trial complex, the Cascade Lakes, Mt Bachelor and Downtown Bend and the popular Galveston/14th Street corridor with fantastic shopping and dining is just minutes away.

If you are interested in learning more about Skyliner Summit or touring some the homes listed below feel free to contact me.

Sold

NW Outlook Vista Dr 4 bedroom 3.50 bathrooms 3095 square feet 0.140 acres
   year built 2004 $324,900 list price $318,000 sold price
NW Quinn Creek Lo op 4 bedroom 2.50 bathrooms 2315 square feet 0.150 acres
   year built 2002 $339,900 list price $320,000 sold price
NW Outlook Vista 5 bedroom 2.50 bathrooms 3494 square feet 0.150 acres
   year built 2002 $349,900 list price $343,000 sold price
NW Outlook Vista Dr 4 bedroom 4.50 bathrooms 3087 square feet 0.110 acres
   year built 2002 $369,900 list price $355,000 sold price
NW Flagline 4 bedroom 3.50 bathrooms 3348 square feet 0.180 acres
   year built 2005 $369,900 list price $357,500 sold price
NW Flagline Dr 4 bedroom 4 bathrooms 4292 square feet 0.180 acres
   year built 2005 $375,000 list price $375,000 sold price
NW Outlook Vista 4 bedroom 3.50 bathrooms 3516 square feet 0.150 acres
   year built 2002 $399,000 list price $399,000 sold price
NW Cabot Lake Ct 4 bedroom 3.50 bathrooms 3412 square feet 0.520 acres
   year built 2004 $569,000 list price $569,000 sold price

Listing Count 8
Averages 3,320 square feet, 116.07 price per square foot, 144/144 days on market $387,188 list price, $379,563 sold price
High 569,000      Low 318,000      Median 356,250


ShrtSale-BringBckUps

NW Flagline Dr 5 bedroom 3 bathrooms 3573 square feet 0.160 acres
   year built 2004 06/03/12 97.96 178/178 387,500 350,000

Listing Count 1
Averages 3,573 square feet, 97.96 price per square foot, 178/178 days on market          $350,000 list price
High 350,000      Low 350,000      Median 350,000


Pending

NW Quinn Creek Lo op 4 bedroom 3.50 bathrooms 3247 square feet 0.190 acres
   year built 2005 06/29/12 107.48 346/346 379,000 349,000
NW Flagline Dr 5 bedroom 3 bathrooms 3625 square feet 0.160 acres
   year built 2004 08/10/12 97.93 205/205 385,000 355,000
NW Flagline Dr 5 bedroom 4 bathrooms 3500 square feet 0.160 acres
   year built 2004 08/10/12 102.86 51/51 360,000 360,000

Listing Count 3
Averages 3,457 square feet, 102.76 price per square foot, 200/200 days on market, $354,667 list price
High 360,000      Low 349,000      Median 355,000


Active

SW Hosmer Lake Dr 4 bedroom 3.50 bathrooms 2544 square feet 0.130 acres
   year built 2001 $290,000 list price
NW Outlook Vista Dr 4 bedroom 3.50 bathrooms 3245 square feet 0.180 acres
   year built 2005 $324,450 list price
NW Outlook Vista Dr 4 bedroom 3.50 bathrooms 3503 square feet 0.140 acres
   year built 2002 $339,500 list price
NW Outlook Vista Dr 4 bedroom 3.50 bathrooms 4018 square feet 0.140 acres
   year built 2002 $375,000 list price
NW Skyliner Summit Lane 4 bedroom 2.50 bathrooms 3443 square feet 0.370 acres
   year built 2005 $664,900 list price
NW Talapus Ct 5 bedroom 4 bathrooms 3940 square feet 0.490 acres
   year built 2002 $689,000 list price

Listing Count 6
Averages 3,449 square feet, 128.70 price per square foot, 175/221 days on market $447,142 list price
High 689,000     Low 290,000     Median 357,250

Featured properties may not be listed by the office/agent presenting this blog.

Information has not been verified, is not guaranteed and is subject to change.
Source Central Oregon Realtors Association multiple listing service.

The August Bratton Report for Central Oregon is now available…

It is not hard to feel as if we are finally climbing back to a more consistent real estate market here in Central Oregon. Home builders are once again pouring foundations and the local lumber yard trucks are rumbling down the streets once again. For the first summer in quite some time building is taking place outside of NorthWest Crossing. Drive through any section of town and you should be able to find a new home under construction.


This month’s Bratton Report shows that the median price for a home in Bend has risen for the third straight month and the eleventh time in the last year. The median price of $250,000 has not been seen since October of 2008. At that time we were still falling from our giddy high, sliding down and off the cliff into a financial nightmare that bore the recession of the past few years. Accompanying the rise of the median price is its sister, price per square foot, to $130. This too is a level not seen since the fall of 2008.

In a similar manner the sales numbers for the month hit a pace not seen since August of 2006. The numbers climb to just above the steady 170 range of the last few months to 191. One number that rose slightly for the season is the days on market for the average sale bouncing up to 91 days. This might be a reflection of the lack of inventory we have experiencing throughout the summer. As the number of homes available has dwindled buyer’s are now reaching out to properties previously thought to be over priced or having undesirable qualities.

Redmond appears to be on a similar path with the median price of a home rising to $155,000, a level not seen since 2009. Price per square foot has been on the increase here as well, rising for the fifth straight month. The sales numbers for Redmond appear to be in a consistent pattern, bouncing between 40 - 70 homes per month with last month coming in at 61. As with Bend the days on market has increased, this too could be attributed to the lack of inventory.

What Redmond is not seeing to this point is the return of home builders, building permits remain flat and in the single digits. If the sales numbers remain strong and Redmond can see some growth in jobs I would expect a return to new construction next summer. This will be aided if Bend market remains strong opening up Redmond as a more affordable option.

Distressed properties once the fuel for listings in our area, has now dried up for the time being with the enactment of Senate Bill 1552. With the mediation component of this bill in play I would not expect to see an influx of new short sales until early winter at the earliest and spring for foreclosures to return to the courthouse steps. There are many working parts in this bill and it is going to take some time for the lenders, homeowners and the state to figure out how to best work through this process. Once these distressed properties find their way back into the market I would not expect a flood new listings at bargain prices. Instead we will see a steady but diminishing flow with pricing that has the occasional gem amongst them.

For now the trends are in our favor, recovery is close but fragile. This falls politics and the decisions that follow through the winter could put all of our gains in the dumpster. One thing is certain the Central Oregon market is resilient. Central Oregon has too many great qualities that folks from outside our area admire and adore to be kept down for too long.