Happy Holidays!!!

Happy holidays to all!!!

While Santa may not be bringing us a white Christmas here in Bend, he did leave early present today with eight inches of light new snow and clearing skies up at Mt. Bachelor.

This past Sunday and Monday had brought some much needed very wet snow, which has glued itself nicely over the many heavily traveled rocky areas of Mt. Bachelor. Though the coverage has improve tremendously the last few days caution still needs to be exercised on the exposed ridges that face to the south and in the trees. Rocks on the ridges and fallen trees from last year’s ice storm have left some unexpected surprises when skiing off in the Outback and Northwest territories.

All in all, the skiing has been fantastic for early season. Today with the boot top to knee deep powder shots would have to rate as one of the better in this very young season.

The rest of this holiday week looks to be mostly sunny and cold, terrific for those of you who have waited to start your season.

For those of you checking out the ideal property for your own ski chalet or future retirement home, call me. There are some awesome properties available that are outstanding values. Interest rates are starting to inch up, making now the time to make your move. I can help those of you who are looking to move up find a home and take advantage of the current tax rebates programs that are available only until this coming April.

TO ALL A HAPPY HOLIDAY SEASON and A FUN FILLED NEW YEAR!!!

Jumping into the virtual tour world!!

Technology today is so amazing!!

Last week I attended a seminar on virtual marketing. Marketing by virtual touring has been around for some time and I had always thought it to be a process better left to the techies who thrive on the challenges brought on by having the newest and best gizmo. This seminar showed how far technology has come and how the software these days is quite intuitive. The ease of using this marketing tool and its ability to link to so many virtual viewing sites with just a few key strokes is amazing.

It is a great tool to share with my clients. By taking photos while we tour homes, I can present my clients with web link or CD of the properties we toured to help refresh their memory. Or for my listing clients I can provide a tour of their property for the buying public to see. Through zoom and panning movement these tours bring the property to life. The static photos used in most advertising just do not give you the same feel for a property.

It will be interesting to see what new tools will lay ahead and where they will take us.

This link will show a gallery of properties I currently have listed. http://www.visualtour.com/inventorygallery.asp?u=183639&mp=100&ss=0&s=bd&fn=rBQnhf+2r1jDR%3F8

Wacky Fall Weather and other musings...

Just when you think you might have a handle on the weather of Central Oregon, you get humbled. After thirty plus years around these parts you would think I would learn. Most years in Central Oregon October is one of our nicest months of the year punctuated with warm days and cool nights. This year is a little unsettled, one weekend we are on the lake enjoying temperatures in the 70's, the next we are building snowmen in the backyard snowing. Just to confirm the wacky nature of our weather, today we are experiencing some freezing rain, but I am sure by next week we will be back in the 70's. While the snow and freezing rain is a taste of what is to come in the months ahead, it is definitely not the norm we like to see in October.

No matter the weather fall is a great time of the year to get out and enjoy the many offerings of the region. The wet weather has settled the dusty mountain biking trails making them tacky and fast. Riding the various trails and elevations offers a wide array of fall colors. Those who enjoy hiking will find the same holds true for them, fewer people and splendid scenery. For those who like the links fall is a great time to get out and enjoy the many of the course in the area. A good many are offering discounted pricing and more accessible tee times.

Round out that fall day excursion with the seasonal beer offerings from one of our many breweries. Several award winning beers make their fall appearance with Jubel ale from Deschutes Brewery being the most decorated. On a warm fall afternoon the patio by the Deschutes River at Bend Brewing serves up head brewer Tonya Corbett's several award winning brews. Looking for good food cheap with pool and music too, I like the eclectic Silver Moon Brewing. Head brewer and owner Tyler Reichert has grown his brewery into a locals favorite. Possibly you want to watch this weeks big game with a bunch of rabid fans, J.C.'s Pub is the place to go. Pool tables and plenty of televisions a bunch of loyal Beaver and Duck fans. Try there offshoot Ten Barrel Brewing beers.

Fall also brings a flurry of activity in the real estate market. Many folks from out of the area are exploring the great housing values Central Oregon has to offer. With the market making a mild recovery this summer many are still finding prime properties at tremendous values. When combined with interest rates hovering around five percent or lower many are taking advantage of the market to buy and make Bend their home. Just think if Central Oregon were your home you would be that much closer to all the things we like most about being here. Interested in learning more about the real estate market in Central Oregon give me a call, I am always glad to help.

BP

First Time Homeowner Rebate Coundown

Just sixty days left before the $8000 first time homeowners tax rebate expires this November 30th. Are you in position to take advantage of this program? If not it is time to move fast before this fabulous program gone.

The program is designed to bring first time home buyers or those who have not owned a home for three years or more into the market. This program combined with ultra low interest rates and home price that are in full retreat, a new home buyer has never had it better.

"Time is of the Essence" is a common phrase in real estate but never more relevant than now with home sales transactions taking anywhere from thirty to ninety days to close. Since the banking collapse many new laws have inacted to protect consumers. These laws have added more layers to the process of buying and closing a home. Ironically these laws meant to protect may now cost many the opportunity to buy a home.

First time buyers need to have there ducks in a row. First off having pre-approval from your lender is essential. Do the research in selecting a mortgage professional, make sure that they have a history of moving quickly to get all the paperwork processed in a timely fashion.

With pre-approval in hand, time will be short to find the right property, one that meets your physical and financial needs. There are a wide variety of buying situations that may provide the timing and value you need to close quickly.

Bank owned properties offer a tremendous value, they have their quirks but generally have fewer strings attached leading to a quicker closing.

With the short timeline most short sales are out of the picture. Short sales require the seller to get the approval of their lender(s). This is a time comsuming process sometimes taking over 120 days. Once the sale has approval you will need to tack on the lenders time needed to close out the sale. Occasionally there will be short sales available that have already been approved by the lender(s) for a previous buyer who's deal fell through. These properties can provide an opportunity to buy low with out having the unbearable wait.

Probably the least cumbersome is the conventional home sale. No need to deal with the sellers lenders here.

If you are looking to purchase in the Bend market, let me be your guide.


Bill Panton
Broker, Duke Warner Realty
1033 NW Newport Ave.
Bend, Oregon 97701
bpanton@dukewarner.com
cell 541-420-6545
office 541-382-8262
fax 541-385-3272

Weathers Changing and so is the Market!!

Fall has quickly come upon us this week in Bend with dramatically cooler weather and trees that are beginning to change their colors. Just two days ago we were water skiing at Crescent Lake in swim shorts and ski vests. Today it's mountain biking with fleece tops and leggings. Yesterday brought some of the first snows of the season to the higher elevations surrounding Bend tantalizing all those who pray to the snow Gods for an early ski season.

As fall is changing our recreational opportunities the housing market is also changing. Last month our office posted the busiest month since 2007. At the heart of the activity is the influx of first time home buyers and investors swooping up some exceptional values in today's market. Many of the better priced properties are receiving multiple offers within days of being listed on the MLS.

With the first time home buyers rebate slated to expire on November 30th there is a rush to find the perfect property for those clients. It will be a tight fit for them to be guided through the process of finding the home they desire, obtaining financing, home inspections, appraisals and closing on the property before the deadline. Those who select the wrong property, wait to long or think that the rebate program will be extended most likely will find themselves left out of the party.

For investors it's finding affordable properties that will bring a good return over the years. The current market has some exceptional properties at prices that pencil out to provide great rental income. Currently bank owned properties offer some of the best values with excellent closing times. Properties in a short sale situation often appear to be great values but often come with lots of frustration in long lead times and poor communication from the third party lenders.

Adding to the mix are the return of normal home sellers who desire to sell their home with out all the drama of the distressed property sale. Many believing that we are near or at the bottom of the real estate markets free fall. While most do not see their home value returning to the illusionary numbers of 2005/06, they feel now is as good a time as any coming up in the near future to sell their home. Upon selling many are taking advantage to buy up taking advantage of the markets tumble.

If you are on the fence about getting into today's market keep in mind that the interest rates of today will not last much longer. Most all of the mortgage professionals that we work with are telling us that by the end of October we will see interest rates begin to rise and will continue to do so well into the new year if not longer.

Fall has so many great opportunities, get out there enjoy all that you can.


Bill Panton
Broker, Duke Warner Realty
1033 NW Newport Ave.
Bend, Oregon 97701
bpanton@dukewarner.com
cell 541-420-6545
office 541-382-8262
fax 541-385-3272