Bend Premier Real Estate Blog

We had never hiked Black Crater on McKenzie Summit until this month and it turned out to be a wonderful experience.  Despite the burned area at the beginning of the hike, the result of the 2017 24,000 acre Millie Fire, the 7 miles up and back was easy enough, although steep in sections, and signs of new life in the burned forest was interesting to see.  However, the reason people hike Black Crater is for the views at the top. On our day, July 13, 2020, eight Cascade Mountains were visible. We had to get through about 1/2 mile of snow to reach the top, but once the trail opened up, the stunning vistas of Broken Top, the Three Sisters, Mt. Washington, 3 Fingered Jack, Jefferson and Mt. Hood were all there and we enjoyed seeing them from this wonderful vantage point. Trail books note the hike as "difficult" or "hard," but we found it more moderate than super challenging. The elevation change is there, but if you take your time, the views are very much worth the effort.

Bend Luxury Homes are Selling!

Ever since coming out from the housing recession, the value of Bend single family homes on less than an acre has increased. From an average sales price of $230,000 in spring of 2011, Bend home values have gone up to exceed $547,000 June 2020.  During the same time, the months of inventory have dropped from 13.3 months to less than 2 and the price per square foot has risen from $113 to $268. From a low of two $1,000,000 plus Bend homes on less than an acre selling in all of 2010, June 2020 alone saw 23 sold.*

Bend Premier Real Estate brokers are currently working with many million dollar buyers, and people calling the office or registering on the company website are frequently searching for high end listings. Despite the Covid-19 pandemic (or perhaps because of it), the demand for Bend real estate with a home office, a backyard or some acreage, and some space in the home has increased. We are seeing multi-million dollar homes sellin...

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After hearing about a new taco shop on the westside, we had to go check it out. Our initial reservation was easily changed after having a great talk with the cashier - a Southerner who had moved to Bend Oregon for the lifestyle and change from the American South.

After perusing the menu, it was decided that 1) We needed to try the margaritas, because it was a very warm day outside. And 2) The El Pastor taco was a must, and came highly recommended by our new friend. 

The result? A great outdoor patio experience! While this location appears close to Century drive, the shrubbery and trees truly block out any loud road noises. We were able to have a great conversation, at a normal decibel level.

The margaritas were refreshing, and for the size reasonably priced. We had the traditional which was on the slightly sweet side but very welcome in the...

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Lack of Inventory Impacting Bend Real Estate Sales

The June 2020 MLS figures have been published and it is clear that a lack of inventory is greatly impacting Bend home sales. Ever since coming out of the great recession, we have been in a seller's market with less than six months supply of homes.  However, despite the Covid-19 pandemic (or perhaps because of it), we are seeing many home buyers actively searching for Bend homes and now have less than 1.5 months supply. For Bend properties priced less than $400,000, our brokerage has been involved in several multiple offers - some as high as nine offers on the same home. This is creating a sense of desperation for some looking for a Bend home this summer.

When June 2020 is compared with June 2019, Bend single family home sales on less than an acre reflect these changes:

• Average sales price is up 15.5% to $603,020*
• Median sales price is up 4% to $463,000
• Original average list price up 10.7% to $640,247
• Original median list price up 12.9% to $525,000
• New listings down 19.1% to 246
• Homes for sale down 66.7% to 329
• Pending sales up 116.5% to 511
• Homes sold down 3% to 229
• Months of supply down 71.2% to 1.5
• Average price per square foot up 7.5% to $238
• Median price per square foot up 5.6% to $262
• Dollar volume of closed sales up 12.1% to $138,091,640

Does the Urban Flight to Rural Areas Matter to Bend OR Real Estate?

We have been reporting how the Covid-19 pandemic appears to be encouraging city dwellers to rethink living in an urban area and instead, consider relocating to the suburbs or even a more rural location where a home office and a yard can positively impact a "stay at home" situation. In discussing this with our Bend Premier Real Estate Brokers, we are hearing that many of the buyers they are working with have this thought process and believe that Bend Oregon may be the perfect place for them to experience a new lifestyle. The urban flight is impacting home buyers in Bend. We have very little inventory and great demand. Now is a perfect time to list Bend homes.

* Data from Multiple Listing Service of Central Oregon

Golden Lake is a Rarely Visited Site in the Three Sisters Wilderness

We have hiked to Green Lakes many times over the years. The 4.5 miles to the lake posted on the forest service sign by the trail head we believe is to the first lake the trail reaches and not to the far lake which usually takes another 1/2 hour to 45 minutes of hiking.  We have gone to the far lake often, but have never gone past that last lake until this year.  The trail further into the Three Sisters Wilderness continues past the last Green Lakes, over the creek and up a hill.   We decided to travel a short distance on this trail to see what we could find, having checked out a map noting a meadow and Golden Lake. 

Most people traveling into the Three Sisters Wilderness will backpack in and camp, but with our early start, we just hiked in and out. Our initial short distance idea expanded a bit, but the hike to Golden Lake was well worth it.  The trail led over snow patches, but once we reached the lake, the beauty of the yellow wildflowers, the stunning views of Broken Top, South Sister, Middle Sister and North Sister and the absolute privacy with no one else around was an experience we shall remember for years to come.