July 2020

Found 33 blog entries for July 2020.

Will We See a Surge of Homebuyers Moving to the Suburbs? | MyKCM

 

As remote work continues on for many businesses and Americans weigh the risks of being in densely populated areas, will more people start to move out of bigger cities? Spending extra time at home and dreaming of more indoor and outdoor space is certainly sparking some interest among homebuyers. Early data shows an initial trend in this direction of moving from urban to suburban communities, but the question is: will the trend continue?

According to recent data from Zillow, there is a current surge in urban high-end listings in some larger metro areas. The month-over-month increase in these homes going on the market indicates more urban homeowners may be ready to make a move out of the city, particularly at the upper end of the market (See

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Bend Home Buyers Need A Great Real Estate Agent to Work With

Multiple OffersAsk any Bend real estate agent right now how the market is, and the answer will be "crazy." In this time of the Covid-19 pandemic, home buyers are flocking to Central Oregon and buying Bend homes faster than they can be listed.  This is resulting in a severe shortage of available homes for sale and in turn, a huge increase in the number of multiple offers on these properties.

Often referred to as a "bidding war," multiple offers can drive the price of a home up beyond the listing price and often the winner is the buyer willing to offer more money with better terms than the other buyers. Having an experienced real estate agent to work with is essential to help a buyer win the home.

Can't

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Homeownership Rate Continues to Rise in 2020 | MyKCM

 

So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had more than a few challenges. Amidst the many roadblocks, however, the U.S. homeownership rate rose again, signaling great strength in the recovery of the housing market and an indication that even in a time of crisis, Americans still feel confident about buying a home.

Yesterday, the U.S. Census Bureau announced:

“The homeownership rate of 67.9 percent was 3.8 percentage points higher than the rate in the second quarter 2019 (64.1 percent) and 2.6 percentage points higher than the rate in the first quarter 2020

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Camp Lake Blog

We have lived in Central Oregon since 1985, but during this entire time we have never hiked to Camp Lake.  The start of this hike is located just outside Sisters off McKenzie Hwy on Forest Road 15 at the Pole Creek Trailhead. The hike into Camp Lake covers 7.1 miles (14.2 miles round trip), the first 4 through a burned forest, the result of 2017's Milli Fire. However, it is interesting to see how new plant growth is returning in the burned area.  And the open areas provide for wonderful views of both Middle and North Sister.

Once we left the burned forest and entered the higher elevations, we had the opportunity to cross the North Fork of Whychus Creek and hike even closer to Middle Sister. Several trails off the main trail lead to the summit of

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Guidance and Support Are Key When Buying Your First Home

Guidance and Support Are Key When Buying Your First Home | MyKCM

In June, the number of first-time homebuyers accounted for 35% of the existing homes sold, a trend that’s been building steadily throughout the year. According to the National Association of Realtors (NAR):

“The share of first-time buyers increased in March through June—right into the heart of the pandemic period and the surge in unemployment—and is now trending higher than the 29% to 32% average in past years since 2012.” (See graph below):

Guidance and Support Are Key When Buying Your First Home | MyKCM

Why the rise in first-time homebuying?

NAR continues to say:

“The major factor is, arguably, low mortgage rates. As of the week ended July 16, the 30-year fixed mortgage rate dropped to 2.98%. With rates so low that are locked

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Three of the Latest Reports Show Housing Market Is Strong | MyKCM

 

The residential real estate market is remaining resilient as the country still struggles to beat the COVID-19 pandemic. Three separate reports recently revealed how the housing market is still showing growth. Here’s a look at each one.

1. Ivy Zelman’s Real Estate Broker Survey

The survey explains that purchaser demand remains strong:

“This month’s overall homebuyer demand rating…was easily the strongest sequential gain in our survey history…Strength continues to be led by the entry-level…While high-end demand is less robust in an absolute sense, there has also been relative improvement, with contacts attributing incremental improvement to the stock market’s rebound, record low mortgage rates and luxury customers trading out of

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A Real Estate Pro Is More Helpful Now than Ever | MyKCM

 

Some Highlights

  • A recent study shared by NAR notes that both buyers and sellers think an agent is more helpful than ever during the current health crisis.
  • Expertise and professionalism are highly valued and can save buyers and sellers time and effort along the way.
  • If you’re thinking of buying or selling a home this year, let’s connect to be sure you have a trusted professional on your side.
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Scott Robinson Ashley Mahana Shaun Cardot

Bend Premier Real Estate is pleased to announce Ashley Mahana, Scott Robinson and Shaun Cardot have joined the brokerage as Brokers working in Central Oregon.  Each broker brings a unique background and approach to their work as real estate professionals, but all will do a great job in working with their clients.

Scott joins Bend Premier from the teaching profession. Scott is a geologist and avid biker, interested in local politics and transportation issues and bring his background in education to help empower his clients with knowledge as they make their real estate decisions.

Ashley recently moved to Bend from the Seattle Metro area where she has been a licensed real estate agent for the past 6 years.  Ashley has a

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Home Sales Hit a Record-Setting Rebound | MyKCM

 

With a worldwide health crisis that drove a pause in the economy this year, the housing market was greatly impacted. Many have been eagerly awaiting some bright signs of a recovery. Based on the latest Existing Home Sales Report from the National Association of Realtors (NAR), June hit a much-anticipated record-setting rebound to ignite that spark.

According to NAR, home sales jumped 20.7% from May to a seasonally-adjusted annual rate of 4.72 million in June: 

“Existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic…Each of the four major regions achieved month-over-month growth.”

Home Sales Hit a Record-Setting Rebound | MyKCMThis significant rebound is a

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