Posts from November 2022

High Interest Rates Impacting the Buying Power of Bend Homebuyers

Although the 30 year interest rate has moderated a bit from its high of 7.08% hit November 10, 2022, the rapid increase in mortgage interest rates we have seen since the beginning of 2022 has greatly impacted our buyer's purchasing power. Many buyers are regretting that they didn't buy several months ago before rates rose to the levels they are now. But is it really cheaper to buy a Bend home today than it was six months ago? Let's look at the true difference between these two markets and see what the numbers actually say.

 In April, we were still living under high demand for Bend homes and a $500,000 property hitting the market would often generate

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What's in the November 2022 Newsletter?

• There are Many Questions with Bend Home Sales

• Green Lakes in the Fall

• Home for the Holidays - Thanksgiving

• Bend's Next Best Taco?

• Homeownership Wins Over Time

Danielle Zollman has Joined Bend Premier Real Estate

Since moving to Bend over five years ago, Danielle has immersed herself in the Central Oregon way of living. Meeting her husband here, she was quickly introduced into the custom home building industry and found her place with real estate. Along side her husband, son and two dogs you can find Danielle fishing, hiking, snowboarding and enjoying the beauty Central Oregon has to offer.

Danielle graduated from The Ohio State University with her Bachelor's in Animal Science and has worked as a Certified Veterinary Technician for many years here in Bend.

Transitioning her experience connecting, advocating for and communicating with pet owners to her real estate clients has been wonderful. Danielle prides herself on building lasting relationships and communication during her transact...

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There are a lot of Questions with Bend Home Sales

As we published last month, the Bend real estate market is in transition. The steep rise in mortgage rates and continued home price increase has impacted Bend homebuyers to the point where home sales have slowed beyond normal seasonal levels.  It is as if the brakes have been hit and all onboard are bracing for an impact. What that eventual impact will be remains to be seen.

When October, 2022 sales of Bend single family homes are compared with those from October, 2021, the following changes can be noted:

• Average sales price up 6.4% to $823,360*
• Median sales price up 4.4% to $680,000
• Average list price up 17.6% to $934,365
• Median list price up 4.7% to $725,000
• New listings down 23.2% to 129
• Homes for sale up 34.5%...

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Green Lakes is One of Central Oregon's Most Beautiful Hiking Destinations

We have hiked to Green Lakes many times over the years, with each visit unique and special.  However, the hike we experienced 10-29-22 has to have been among the very best, something we would call magical. The first snow of the season had fallen earlier in the week, but the day was brilliant with clean, clear air (all summer forest fires finally out due to the snow). The trail was a bit icy, but with microspikes, the packed snow was easy to manage.

The early snow covered a lot of the fall foliage, but Fall Creek with its numerous waterfalls was full and beautiful. And every now and then some lovely fall color could be seen.

When we reached Green Lakes, the handful of people we saw during the hike all traveled to the peninsula on the main, largest lake.  However, we hiked to the first, smaller lake, post-holing through one foot of snow to the far side of the lake which provided us with stunning views of South Sister mirrored in the lake water. We sat on a fallen tree trunk and watched the lake and mountain for 45 minutes, seeing the clouds near South Sister's summit eventually blow away. During this time, we didn't see another person. On our return to the main trail, the views of Broken Top were the best we had ever seen from Green Lakes. It was truly a magical day.