June 2020

Found 27 blog entries for June 2020.

Are New Homes Going to Be Available to Buy This Year? | MyKCM

In today’s economy, everyone seems to be searching for signs that a recovery is coming soon. Many experts agree that it may actually already be in motion or will be starting by the 3rd quarter of this year. With the housing market positioned to lead the way out of this recession, builder confidence might be a bright spark that gets the recovery fire started. The construction of new homes coming right around the corner is a huge part of that effort, and it may drive your opportunity to make a move this year.

According to the National Association of Home Builders (NAHB): 

“New home sales jumped in May, as housing demand was supported by low interest rates, a renewed household focus on housing, and rising demand in lower-density markets.

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Bend Premier Brokers and Staff Volunteer

Over the weekend, Bend Premier got to be the first volunteer group to be a part of "Keeping Bend Beautiful" following the initial shut down due to COVID-19. This volunteer program allows various clubs, individuals, and associations the opportunity to adopt a stretch of road or plot of land and improve the appearance by picking up litter, weeding and sometimes planting new plants! 

Bend Premier worked on picking up trash along 14th street on the Westside of Bend on Saturday and it was a wonderful experience. Not only did the team clean up all the trash found along the side of the road, but they also had a great time doing it. The volunteers agreed that they can't wait for the next opportunity to do their part

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What Are Experts Saying About the Rest of 2020?

What Are Experts Saying About the Rest of 2020? | MyKCM

One of the biggest questions on everyone’s minds these days is: What’s going to happen to the housing market in the second half of the year? Based on recent data on the economy, unemployment, real estate, and more, many economists are revising their forecasts for the remainder of 2020 – and the outlook is extremely encouraging. Here’s a look at what some experts have to say about key areas that will power the industry and the economy forward this year.

Mortgage Purchase Originations: Joel Kan, Associate Vice President of Economic and Industry Forecasting, Mortgage Bankers Association

“The recovery in housing is happening faster than expected. We anticipated a drop off in Q3. But, we don’t

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Think You Should For Sale By Owner? Think Again [INFOGRAPHIC] | MyKCM

 

Some Highlights 

  • For Sale By Owner (FSBO) is the process of selling real estate without the representation of a real estate broker or real estate agent.
  • According to the National Association of Realtors’ Profile of Home Buyers & Sellers, 35% of homeowners who decided to FSBO last year did so to avoid paying a commission or fee. But, homes sold with an agent net 6% more than those sold as a FSBO according to Collateral Analytics.
  • Before you decide to take on the challenge of selling your house on your own, let’s connect to discuss your options.
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New Index Reveals Impact of COVID-19 on Real Estate | MyKCM

 

Earlier this month, realtor.com announced the release of their initial Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry, tracking each of the following:

  1. Housing Demand – Growth in online search activity
  2. Home Price – Growth in asking prices
  3. Housing Supply – Growth of new listings
  4. Pace of Sales – Difference in time-on-market

The index then compares the current status “to the last week of January 2020 market trend, as a baseline for pre-COVID market growth. The overall index is set to 100 in this baseline period. The higher a market's index value, the higher its recovery and

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Newberry National Volcanic Monument's Lesser Known Hikes

Cinder Butte Trail

Most Central Oregonians know what a wonderful place to camp, fish, and hike Newberry National Volcanic Monument is. Paulina Falls and the Obsidian Trail are easy, short hikes to beautiful views and interesting geological formations and are well used by visitors to the monument.  However, probably a hike few take is the Crater Rim Trail which is 21 miles in total length and traverses the entire rim of the crater. We have never taken the Crater Rim Trail all the way around, but we have hiked from Cinder Hill campground up to the Crater Rim Trail and 3/4 mile along this to the Cinder Hill Viewpoint several times. The elevation change from East Lake to the Crater Rim Trail is roughly 1000 feet,

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Should We Be Looking at Unemployment Numbers Differently? | MyKCM

 

The New York Times recently ran an article regarding unemployment titled: Don’t Cheer Too Soon. Keep an Eye on the Core Jobless Rate. The piece suggests we should look at unemployment numbers somewhat differently. The author of the article, Jed Kolko, is a well-respected economist who is currently the Chief Economist at Indeed, the world’s largest online jobs site. Previously, he was Chief Economist and VP of Analytics at Trulia, the online real estate site.

Kolko suggests “the coronavirus pandemic has broken most economic charts and models, and all the numbers we regularly watch need a closer look.” He goes on to explain that the decline in the unemployment number reported by the Bureau of Labor Statistics (BLS) earlier this month was

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What Are the Experts Saying About Future Home Prices?

What Are the Experts Saying About Future Home Prices? | MyKCM

A worldwide pandemic and an economic recession have had a tremendous effect on the nation. The uncertainty brought about by both has made predicting consumer behavior nearly impossible. For that reason, forecasting home prices has become extremely difficult.

Normally, there’s a simple formula to determine the future price of any item: calculate the supply of that item in ratio to the demand for that item. In housing right now, demand far exceeds supply. Mortgage applications to buy a home just rose to the highest level in 11 years while inventory of homes for sale is at (or near) an all-time low. That would usually indicate strong appreciation for home values as we move throughout the

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Homebuyers Are in the Mood to Buy Today | MyKCM

 

According to the latest FreddieMac Quarterly Forecast, mortgage interest rates have fallen to historically low levels this spring and they’re projected to remain low. This means there’s a huge incentive for buyers who are ready to purchase. And homeowners looking for eager buyers can take advantage of this opportune time to sell as well.

There’s a very positive outlook on interest rates going forward, as the projections from the FreddieMac report indicate continued lows into 2021:

“Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.”

 With mortgage rates hovering at such compelling places, ongoing buyer interest is bound to keep driving the

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Painted Hills - Part of the John Day Fossil Beds National Monument

Painted Hills

Known as one of the 7 Wonders of Oregon, the Painted Hills is series of hills with outstanding colors. Located roughly 86 miles northeast of Bend close to Mitchell, Oregon, the hills get their colors from the geology of the area over 35 million years. The combination of river flood plain, tropical forest, volcanic ash, and time has resulted in the color striations of the hills. Colors of red, green, orange, tan, and even lavender all provide a beautiful representation of millions of years of changing climate and geological upheavals. The hills monument cover over 3000 acres and are the most visited of the John Day Fossil Beds. Several easy hikes enable visitors to view the hills

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