March 2013 Bratton Report

It looks like we are into a classic Central Oregon weather pattern for spring. Snowstorms today then we head back to sunny skies and temperatures up towards the sixties for the end of the week. When you are looking for defined seasons you need to look no further than Central Oregon.  I think that we have some of the most pronounced seasons, sun and dry high desert warmth in the summer, sunny days with spectacular foliage colors and cool crisp nights in the fall, snow in the winter and the mix of snow, blossoms and sun in the spring.

Mother Nature is not the only one who is coming to life this spring this month’s Bratton Report is showing the best median pricing for Bend homes since the fall of 2008, or would that be when the market fell in the fall of 2008. The number of homes sold for the month also has rebounded from the previous five months winter decline. While the number of sold is not near our highs it indicates a return of buyers to the market above $400,000. This I believe is a good sign as it will free up inventory in the lower brackets as homeowners seek to take advantage of today’s low interest rate and purchase more home for their buying dollar.

Currently the inventory remains tight and new properties that are listed seem to get gobbled up as soon as they appear on the market. This is evident by the decline of how many days properties are remaining on the market. Builders seem to be attune to the thin inventory as they continue to apply for building permits. The level of permits has remained relatively consistent for the last three quarters, that level is one which has not been seen since the spring of 2007.

While some feel today’s market conditions are another bubble, we are hopeful that this is a sustainable trend that will moderate and remain consistent.

Follow this link Duke Warner Market Trends Report and Bratton Report for this month and prior month’s history of activity. If you have questions about the Bend real estate market and need a source for information, please contact me, Bill Panton.  I am glad to assist you in making informed decisions about Bend and Central Oregon.

#centraloregon, #bendoregon, #dukewarner, #billpanton, #shopbendhomes

March 2013 Duke Warner Market Trends Report

Today was snow globe day in Bend this morning we looked like one of those snow globes that turn upside down to have all of the snowflakes cover the village in the globe. Goes to show how spring weather in Central Oregon can through myriad of conditions on any given day. This morning there was an inch and a half of snow on the ground. Now I can see the blossoming tree across the street.

Just like spring flowers there have been many new listings budding out. With our market being slightly heated up like a warm spring day there are many folks out pruning the new blossoms. According to our Duke Warner Market Trends Report  the Bend market had 230 new property listings this month but the bump in the overall number of active listings available was slight. The pruning was achieved through the pending sales and sold properties; both showed a healthy increase in their numbers. March produced sales of 155 homes versus 100 homes in February being sold. This is a close match to March of 2012 when 153 homes were sold. With the amount of interest in purchasing homes this year we should at least mirror last year if not see a healthy increase in sales activity this summer. 

Follow this link Duke Warner Market Trends Report and Bratton Report for this month and prior month’s history of activity. If you have questions about the Bend real estate market and need a source for information, please contact me, Bill Panton.  I am glad to assist you in making informed decisions about Bend and Central Oregon.

#centraloregon, #bendoregon, #dukewarner, #billpanton, #shopbendhomes

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.

Spring is in the air...Duke Warner Market Trends Report for April and more...

Wow, this is what spring looks like in Central Oregon… the Rhododendrons are beginning to bloom, the trees and grass are green once again and the sun being out is a regular event, it is has been warm and wonderful outside. This may be the spring season we have been waiting for, one that sees warm days and sunshine instead of the endless winter of last two years. So far the spring skiing/biking/yard work has been fantastic with sun filled weekends for the last month and a half.

With the start of spring we have seen only a slight increase in available homes. According to our Duke Warner Market Trends Report at the end of April we had 405 homes on under one acre that were actively marketed in Bend. As of this writing we have jump slightly to 457 homes. On this beautiful Monday morning it is past noon and we have yet to see one new listing hit the Bend market for the day.

If you are a property owner that has been sitting on the sidelines waiting for the doom and gloom to end possibly this is your time to spring forward. Interest rates remain low at today’s rate of 3.85%. This is not likely to change this summer for a variety of reasons. Of course with the low inventory there is less competition from other properties. This too is unlikely to change over the summer as lenders have been slow to process distressed properties. Oregon’s SB1552 a bill designed to end dual tracking by the larger lenders and require the lenders to mediate with their borrowers is likely to slow the processing of distressed properties even further.

On the flip side there are still opportunities out there for buyers. While bank owned properties have decreased for the time being, the leading value category is in homes being short sold. It is true that short sales can be a pain and have a reputation for taking months to complete. For the buyer who can wait out the process they represent a segment of the market that has the greatest value. Today there are 49 short sale and 27 bank owned homes that are actively marketed in Bend. These numbers have decreased dramatically from years past adding to the decrease in our inventory.

Time will tell if the lenders ever get a handle on how to process the large number of homes that have been foreclosed (or are in the process of foreclosing). For now there are plenty of properties that are sitting out there waiting for someone to finish processing them so they can return to the market. Until then if you are going to buy it would be best to have a great lender on your side, come well armed with an approval letter from them and know your limits. If you like a property weigh the pros and cons carefully, if it is a sound and well priced property consider making your offer at the asking price or risk missing out to those who will. This seems strange considering how there are still so many property owners who cannot sell their homes but many of those are in their position due to price or location.

If you or someone you know needs assistance with properties in Bend and Central Oregon, give me a call or send me an email. I am glad to assist and referrals are always appreciated.

May Market Trends Report

Once again I am tardy with the last month’s market trend reports from both Duke Warner Realty and the Bratton Report. Please accept my humble apologies.

Summer has brought a predictable uptick in the inventory around town for properties in the middle price range of the market. Finding good homes under $125,000 remains a challenge as most good ones are snapped up within days of being listed on the market.

Lenders are now feeling more confident about their abilities to foreclose on properties without legal consequences. With this new found confidence we saw a spike in re-filings of Notices of Default in April and May. It will most likely be late September before we see those homes hit the market as bank owned properties. Some of those homeowners have chosen not to wait and have entered their properties into the market as short sales. Right now short sales are providing some of the best opportunities in the Bend market for those who are patient.

If a friend or you need to buy or sell, short sale or traditional sale, rural or urban property or just need some information give me a call. I am ready and waiting to assist you in achieving your goals.

November Market Trend Reports for Bend, Oregon now available....

Just in time for the holiday's the numbers for last month are now available at shopbendhome.com .


The under $225,000 remains the hottest portion of our market with investors and first time home buyers leading the way. Those who have hesitated in putting their offers on these homes are finding themselves on the outside looking in and are learning to bring strong offers to the table quickly. For the month the under $225,000 range there were 81 homes in a pending sales status and 69 homes sold. This makes the third month in a row the inventory for homes in this range has held to under a three month supply.

The rest of the market has slowed with a little more strength showing up in the $325,000 to $425,000 range with rise in the number of pending status for sales while actual sales have dropped off slightly.

In the overall market the list price to sales price ratio has flattened out to a 2% difference, showing that sellers and buyers are getting closer in their expectations for what a property should sell.

For winter buyers there are great values being brought to the table by sellers who are in the $325,000 and up price range. Their homes have been on the market a bit longer and they tend to have had the most room to give a little in their pricing expectations and have adjusted accordingly. With interest rates continuing their slow climb upwards this winter could present some of the best opportunities for those looking to move up in the level of home they could purchase.

Enjoy dissecting the numbers and have a fabulous holiday season!!!

Bend Oregon July Market Trends

Here is the market trend report for July, I am a little tardy in posting this.

As one might expect the months of inventory on homes under $425,000 has increased as summer has attracted more sellers to the market. The inventory for homes in the price categories above $425,000 have actually dropped slightly.

The current list price to sales price ratio has remained in the high ninety percent range. The difference between original list price to sales price continues to shrink and is now at eighty eight percent. This is an indicator of how the smoking deals are disappearing from our market and that sellers have adjusted their pricing expectations.     

Our market continues to see investors that have been bolstered by Bloomberg's Businessweek report that Bend is number two on a list of the fastest recovering markets by 2014. Zillow's report that Bend is leading the nation in home value depreciation has many thinking that Bend is still ripe with opportunity. As the original list price to sale price ratio shows those bargins are starting to disappear.

Bend, Oregon Residential Real Estate Trends for June 2010

Here is my take on the Bend, Oregon real estate market at early summer. Currently there is more interest from buyers from out of the area than folks that live here. People who live here are still nervous about the lack of jobs and the uncertainty of what the future will bring, many are waiting for more pain to come. Buyers from out of the area see this market as a great opportunity and generally come from areas with a rosier outlook on the economy. They are buying properties as rentals, retirement homes or second homes. The better properties that are priced well are moving quickly to these people.

Overall the market is stronger than a year ago but is by no means healthy. The properties that are being purchased are usually very good deals but not necessarily distressed. Inventories of homes is down to an 8.8 month supply, one year ago we had 14.4 month supply. We have been in the 8 month range since March of this year. The stats break out that 21.21% of the homes sold the last three months are short sales, 34.38% are REO's and the remaining 44.41% are traditional sales. The traditional sales are closing at a rate of 95.93% list price to sales price, short sales are at 98.13% and REO's are at 96.47%. Here is a scary number that most folks do not consider, the original list price versus the sales price, the number has improved from last year's 79% and is now at 85%. We have been in the mid 80% range since December of last year; I would expect that number to improve as people lower their expectations for what their home is worth.

To sum it up the lower end of the market $225,000 and under, there will not be much more downward movement. The $225,000 through $425,000 has all sorts of properties and pricing strategies. While most properties are priced reasonably there will be some more movement downward. Most brokers realize the value in having correct pricing but sellers can be quite headstrong on the original pricing wanting to give the higher price a shot before succumbing to reality. The $425,000 and up market has the most room for more downward pressure.

Charted below are the trend numbers for the past three months. To view in a full screen click on the box in the lower right.