Bend Home Buyers and Bend Home Sellers Have a Different Perspective

After months of seeing record breaking prices where multiple offers, bidding wars, and buyer panic was the norm, we are finally seeing this historic balance between buyers and sellers start to reverse both nationally and in our Bend Real Estate market. The major reason for this… Buyers have simply had enough! Although those saying it's a good time to sell reached another record high according to a recent Fannie Mae survey, home sellers saying it's a good time to buy also reached an all-time low. We are certainly seeing this trend locally as well with an end to the recent "panic" buying and even a lot of "price improvements" as buyers are no longer willing to pay thousands or even tens of thousands of dollars over asking price.

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If we have learned anything from our time living in Bend Oregon, it is that there is not a lack of amazing cuisine in this great city. Our latest venture took us to one of Bend's newest restaurants, and their take on Old World style French and Italian specialties did not disappoint. Bosa Food & Drink is located in the old Bakery Building in the Galveston corridor and is a destination we will be going back to.

We began our meal with the Crostoni and the Meatballs. The grilled sourdough bread of the crostoni was perfectly grilled and crunchy and the simplicity of the sweet pea and white bean hummus paired so wonderfully with the pecorino and summer truffle. The meatballs on the other hand were so perfectly rich and the simplicity of the tomato gravy just enhanced the flavors of the perfectly prepared meatballs. 

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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.