How's the housing market over here now? (Bend, Redmond: renters, how much)

[delta07]

Originally Posted by Snownut

wonderful and you shouldnt need luck since it seems you have priced it well.

make sure to note the south facing yard. we will not even consider buying a home in bend if the main outdoor space faces north. I be watching for the sale pending update.

I agree! Our house has a north facing front yard, but the back is south facing. We have a great garden because of this. In the winter though, our driveway and walkway are almost always frozen if we've had any snow or moisture in the past week. It never warms enough to melt it.

I think it's especially important to have a south facing yard if you live in a treed part of town or have any sort of hill or long driveway to contend with.

[Bendoid]

The housing market in Bend ( All Zip Codes including Three rivers and Water Wonderland ) is great for a seller/owner bad for a buyer. Just bought a house in Bend and have been looking for 6 months. Biggest problem is that if you find a nice home and the listed price is within your budget, you will likely NOT get the house because out of state Cash investors are bidding up the prices. Also the Short Sale market in Bend is INSANE. Banks are refusing rational offers and countering offers with crazy prices. EXAMPLE :

2br2bt 1428SF 2 car garage TINY LOT in SE Bend's Old Farm District.

Listed Price $135,000
Banks counter $210,000 in March ( March comps showed $129k - $140k for 1300-1500SF 2br/2b homes built between 2000-2007
In May they countered with $220,000

And this is a Nice home in the LOW END range, SE Bend not NW or SW lol

Another example :

House hit market at $149,900 we offered $152k within hours of it hitting MLS and before we had seen it. By the end of the day the offers from out of state investors hat climbed well past $185k. This house was 3br/2b 1800SF in the NE portion of Bend. No pine trees, just Junipers and dessert scrub. The yard was about 8feet from house to fence lol.

If you are thinking of selling, wait 6 months and get 15%-40% more then if you list now.
If you are thinking of buying, Start the SECOND you get done with this sentence or be prepared to pay another 5%-10% by July.

The 3 big housing tract builders in Bend raised the prices on ALL NEW homes by 15k in March for NEW homes in the 150k - 250k range. Literally I looked at a new home that was $180k in Feb. Went back in March and it was $195k Went back in Late may it was sold but an identical home on a different lot was $229k

That's 49k increase in 3 months. May not be typical, but it's an indicator of how nuts it is. Keep in mind these houses were 3b/2b under 1600sf

Very nice homes, but tiny with tiny lots.

[oregonwoodsmoke]

My house is in escrow with a back-up offer in second place, hoping we fall out.

My son is about to put a gorgeous lot with a manufactured on the market. It is in a very desirable location and I expect someone to scoop it, remove the manufactured, and put a nice quality house on it.

I'm seeing some new construction and nice building lots are hard to come by. So, we will see what happens when he lists it at the end of the month.

On the other hand, I've got a nice lot for sale closer to Tumalo with an older mobile home and not much interest in that one. There is a tenant in it and a new tenant already lined up for when she moves out, so I don't have it listed. It might sell if it were listed.

[BendLocal]

Originally Posted by whirnot

Reality is the same as reality:

Bend home prices jump nearly 20 pct. in year | News - Home

Up 20% year over year?

Data from my RE agent.

Aprill 2012 vs April 2013
$0 - $199K____________+15%
$200K - $299K___________0%
$300K - $499K__________-1%
$500K - $999K__________-5%

[whirnot]

I think I am glad we went ahead and bought our lot last fall, the money we will spend in taxes, for 2 years, will be less than the increase in price, it appears. (Plus it is deductible.)

[Steve Pickering]

Originally Posted by BendLocal

Up 20% year over year?

Data from my RE agent.

Aprill 2012 vs April 2013
$0 - $199K____________+15%
$200K - $299K___________0%
$300K - $499K__________-1%
$500K - $999K__________-5%

Sometimes the spin is important.

And a gain of 20% is still a 40% loss.

[oregonwoodsmoke]

My son is going to list a house at the end of the month. So I out it on Craigslist FSBO at midnight last night and it had an offer by noon today.

Granted, it is an extra nice location, so maybe other properties aren't getting the same quick response. The potential buyer really wants it and has a source of funding, so maybe with a little negotiating, it will be sold already.

I had 4 offers on mine, should close the end of the month, with a good solid backup offer who is hoping I will fall out of escrow. That's in Crooked River Ranch. My agent says she is getting multiple offers an several of her listings.

And no, prices are nowhere near back to what they were before the crash. There are some really good bargains out there, especially considering how low mortgage rates are. It is a very good time to buy before prices and rates go up any more.

[Coniferian]

We're putting our house up for sale here in Conifer on Monday. Median time on the Denver metro market is 11 days, so we hope it will go quickly. We'll be in Bend by Wednesday to look for a retirement home in the under $250K range, of which there seems to be plenty. The timing of the whole operation is going to be nerve-wracking since I don't want to have to put all our household goods into storage first. At least I won't have to worry about getting a job or a mortgage.

[delta07]

Originally Posted by Coniferian

We're putting our house up for sale here in Conifer on Monday. Median time on the Denver metro market is 11 days, so we hope it will go quickly. We'll be in Bend by Wednesday to look for a retirement home in the under $250K range, of which there seems to be plenty. The timing of the whole operation is going to be nerve-wracking since I don't want to have to put all our household goods into storage first. At least I won't have to worry about getting a job or a mortgage.

Once your home goes on the market, send me a direct message with the link, if you will. I have a friend who currently lives in Golden and they are looking for a mountain home. Not sure if will suit their needs, but since homes are flying off the market there, I'd love to send it to her so she can look at it right away if she is interested. Good luck with your move and your home search here in Bend.

[oregonwoodsmoke]

Cruising through the real estate listings, I notice that the very nice houses in Eagle Crest don't seem to have gone up much yet.

Those are listed under "Redmond" but they are located just north of Tumalo. Maybe being listed as Redmond keeps the buyers coming into Bend from noticing them?

There are some bargains in that area.