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