What's in the August 2021 Newsletter?

• Bend Real Estate Trends Starting to Shift
• Tumalo Falls a Must Hike
• What's Up With Bend Luxury Homes?
• A Taste of the Old World
• Creating the Home Office of Your Dreams

Bend Real Estate Sales Trends Starting to Shift

Ask most Central Oregon Brokers what happened with July 2021 real estate sales, and they will tell you that they saw a change to the market during the month. Although prices were up considerably over those from a year ago, compared with June, 2021, prices actually were down on average.  A good number of price reductions were seen on a daily basis and the pace and number of multiple offers on listings were dramatically down. Compared with a year ago, the trends we have seen over the past year remained consistent, but not at the extreme levels experienced during the Covid lockdowns. Some offers on properties are now experiencing counter offers and the days on market are lengthening.  It remains to be seen whether or not these trends will continue.

But when we look just at the differences between July 2021 with July 2020 on Bend single family home sales, the following trends remain dramat...

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We have lived in Bend Oregon since 1985 and have hiked to Tumalo Falls and beyond many times. This lovely waterfall, located not far from Bend's westside, also is in the Bend Municipal Watershed where the majority of Bend's water comes from. Most tourists hike the 1/4 mile from the parking lot to the view point at the top the falls. But for those who are willing to continue hiking past Tumalo Falls on the trail toward Happy Valley, the rewards of many additional waterfalls are well worth the effort.

On July 31, 2021, we hiked the alternate route to Happy Valley, traveling up North Fork Trail #24, climbing 1300 feet to the Junction of trails 370 and 4601 and from there to Happy Valley. Happy Valley has changed a lot over the years we have hiked there.  What used to be a remote location has become a stopping point for many mountain bikers with trails converging there.  If hikers travel this route, they need to be aware of bikers on the trail and be prepared to step off to allow the bikers room to safely pass.  

From Happy Valley traveling down the loop back to the viewpoint at the top of Tumalo Falls, people can stop at multiple waterfalls which have such inspiring names as Middle Fork Tumalo Falls, Lower Middle Fork Tumalo Falls,  Lower North Fork Tumalo Falls and Double Falls.  These names do not do justice to the beauty of some of these waterfalls. They are great places to stop, have lunch on the creekbanks, and watch the flowing water.

If you take the long way around up North Fork Trail #24, you will climb a bit over 1300 feet, mostly in the first 3 miles, and the full hike will be just short of 10 miles.

The Destination is Far Better Than the Hike There

To reach Camp Lake, part of the Chambers Lakes in the Three Sisters Wilderness, hikers starting at the Pole Creek Trailhead have to trek trough 4 miles of dead trees, the result of 2012's Pole Creek Fire. We did this hike July 24, 2021 and it was a warm day. Despite the heat and the dry conditions, we saw some interesting things along the way, among them what we believe was a young Red Tailed Hawk sitting in one of the burned trees as it scouted the area for rodents. We also had fun crossing the North Fork of Whychus Creek as it flows out of Diller Glacier on Middle Sister.

The remaining 3 mile trek to Camp Lake is in alpine wooded areas with fabulous views of Middle and North Sister. Just before reaching Camp Lake, the views open and South Sister becomes the main mountain visible, towering over Camp Lake.  When we arrived midday, we were the only people at the lake. We enjoyed the solitude, soaking our feet in the lake, having lunch and relaxing before starting the 7 mile hike back to the Pole Creek Trailhead. Most people who hike this trail will spend the night in the area, perhaps hiking an additional mile to the more distant Chambers Lakes. For us, it was a full day with 14 miles round trip, 2700 feet elevation gain, and warm weather.  If you plan on taking this hike in the summer, be sure to bring plenty of water.

Bend Luxury Home Sales Have Spiked in the Last Year

When we think of luxury homes in Bend, we have a vision of a grand property with stunning mountain or river views, lots of elbow room, and fabulous amenities. Easy location to access the Bend lifestyle, which includes proximity to downtown, the mountains, the river, and the Old Mill also checks a lot of homebuyer's luxury wish lists. Having an up-to-date architectural design and interior features are also important to many who are making Bend their home. Yet with so many people moving to Bend over the past year and with inventory supply not keeping up with demand, homes that are not considered luxury have pushed the million dollar market into never before seen figures.

The chart below outlines the last ten years of million dollar home sales in Bend. As you can see, from 2011 through 2014, high end home sales were almost nonexistent. Coming out of the great recession, it took time to sell all the accumulated inv...

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