Bend Premier Real Estate Blog

Did you know that brass doorknobs actually disinfect themselves?  It's called the "Oligodynamic Effect," and according to Wikipedia, "Brass doorknobs disinfect themselves in about 8 hours, while stainless steel and aluminum knobs never do."  Other metals including brass, copper, silver, and iron also have antimicrobial qualities and would be good choices, but brass is the most antimicrobial of them all.  This is one very big reason that you see not only homeowners, but also hospitals installing or switching to brass doorknobs, plumbing fixtures, and even light switches.

Bend Premier Real Estate Brokers worked last Saturday as part of Central Oregon Association of Realtors Adopt a Road. The Brokers worked for several hours on 14th Street between Newport and Galveston. When they were done, they had collected several bags of trash and weeds; the roundabouts at Galveston and Newport looked manicured and cared for. Nice job Dan Cardot, Bill Raven, Sherry Ortega, Jack Zika, Anita Keller, Pualani Helmbrecht, and Stu Hicks!

The trend continues upward with Bend real estate. Data from August, 2016 continues to show strong sales and increased values for Bend single family homes. When compared with August, 2015, the average active home price is up 12.6% and the average sold price is up 8.9%. There are 1.2% fewer Bend homes for sale than a year ago with 6.3% more having sold;*  this continues the issue we have had all year with great demand and insufficient inventory to keep up with this demand.

One step to help with the insufficient inventory was made earlier this week when the Bend City Council gave initial approval to the plan to expand Bend's urban growth boundary by 2,380 acres. The plan, if accepted by the state, would allow for more than 17,000 additional homes to be built in Bend along with room for additional employment opportunities. Bend has been working on expanding the urban growth boundary for over 10 years and the need for th...

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A growing concern with appraisals has impacted Bend OR real estate transactions within the last few months. The concern does not revolve around the value of the property, but instead, whether or not the home can be evaluated by a licensed appraiser within the time allotted within the contract. Changes to lending requirements implemented last October due to federal regulations (i.e. TRID) have extended the timeframe for most home buyers using a loan to purchase their property. Escrow timeframes under TRID have increased from 30 days to 45 on average. Real estate professionals have adjusted to the lengthened timeframe for most property purchases when loans are involved to accommodate TRID requirements. However, the newest problem, just seen within the last few months, involves appraisals. Home values in the Bend real estate market are rising and appraisals, in general, are coming in fine with the value the appraiser assigns to the property. However, the ti...

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Home prices in the Bend real estate market have joined numerous other major cities in surpassing the housing boom peak of 2006-2007. Other major U.S. cities that have set new highs according to CNBC News today include Portland, Seattle, San Francisco, Denver, Dallas, Austin, Boston, Pittsburg, and Charlotte. Bend's average home price May through July, 2016 of $432,000 exceeds the previous high of $429,000 reached in the same months in the peak in 2007*. And with June 2016 marking 50 consecutive months of national price appreciation, the U.S. overall is within just 1.1% of a new national record high.

But the big question everyone is asking, is the Bend real estate market in another housing bubble like the one back in 2007? The answer is yes… and no. While we are experiencing once again the rapid growth...

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