Bend Real Estate Blog

Is Bend's Surge in Home Sales Tied Into the Urban to Rural Exodus?

Is the Health Crisis Driving Buyers Out of Urban Areas? | MyKCM

The pandemic has caused consumers to re-examine the components that make up the “perfect home.” Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be giving way to either suburban or rural life (less congested). The fascination with an open floor plan seems to be fading as people are finding a need for more privacy while working from home.

Recently, news.com released a report that revealed how buyers’ views of listings are leaning heavily to more suburban and rural properties. Here are the year-over-year percentage increases in views per property type:

  • Urban – 7%
  • Suburban –
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Iron Mountain is a Must Do Hike for Many

Iron Mountain

We first heard about Iron Mountain 5 years ago when a friend told us about this amazing hike in the Central Cascades off Hwy 20 near Tombstone Summit. When we took the hike, it was past the peak time for the annual wildflowers, but this year the flowers were blooming and the views were stunning.

If you have never hiked Iron Mountain before and are up for several miles, we suggest you park at the Tombstone Summit parking lot, walk 15 minutes through the beautiful nature trail which begins at the end of the lot (bear left down the trail off the gravel road), and then carefully cross the highway to the start of the Cone Peak Trail.  This trail takes you gradually up in elevation through old growth forest

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A Historic Rebound for the Housing Market | MyKCM

 

Pending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors (NAR) started tracking this metric in January 2001. So, what exactly are pending home sales, and why is this rebound so important?

According to NAR, the Pending Home Sales Index (PHS) is:

“A leading indicator of housing activity, measures housing contract activity, and is based on signed real estate contracts for existing single-family homes, condos, and co-ops. Because a home goes under contract a month or two before it is sold, the Pending Home Sales Index generally leads Existing-Home Sales by a month or two.”

In real estate, pending home sales is a key indicator in determining

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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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© 2020 Oregon Datashare (KCAR | MLSCO | SOMLS). All rights reserved. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of the Oregon Datashare. Real estate listings held by IDX Brokerage firms other than Bend Premier Real Estate are marked with the Internet Data Exchange logo or the Internet Data Exchange thumbnail logo and detailed information about them includes the name of the listing Brokers. Information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. The consumer will not copy, retransmit nor redistribute any of the content from this website. Information provided is deemed reliable, but not guaranteed. Listing courtesy of Bend Premier Real Estate. Data last updated: July 10th, 2020 at 6:15pm PDT.