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Bend Deschutes County
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Old 06-28-2013, 04:24 PM
 
2,542 posts, read 4,008,436 times
Reputation: 3615

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It doesn't look that way to me. In the $200K - $299K range there were 94 units sold in 2013 compared to 57 units sold in 2012.
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Old 08-26-2013, 08:29 AM
 
169 posts, read 238,157 times
Reputation: 220
Been a while since anyone posted on the market up there... How are things looking? Has it quieted down since the spring?
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Old 08-27-2013, 12:37 AM
 
Location: Bend
24 posts, read 45,931 times
Reputation: 26
No

Bend's boom back? Home price rise No. 4 in nation | News - Home
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Old 08-27-2013, 09:57 AM
 
Location: Bend, OR
3,296 posts, read 9,696,790 times
Reputation: 3343
Quote:
Originally Posted by pkooistra View Post
Exactly. I'm actually quite nervous about this. I am really afraid Bend is headed for an even bigger bust. One that doesn't recover for 10-15 years. There really isn't industry to support this huge increase in prices. Once again, we have retirees and investors flocking in, buying up properties, flipping them, and making a nice wad of cash. I just hope I have figured out what I'm doing before the big bust hits, because I would hate to be stuck in my home for the next 10-15 years!
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Old 08-27-2013, 12:21 PM
 
Location: OR
722 posts, read 1,355,379 times
Reputation: 334
Quote:
Originally Posted by delta07 View Post
Exactly. I'm actually quite nervous about this. I am really afraid Bend is headed for an even bigger bust. One that doesn't recover for 10-15 years. There really isn't industry to support this huge increase in prices. Once again, we have retirees and investors flocking in, buying up properties, flipping them, and making a nice wad of cash. I just hope I have figured out what I'm doing before the big bust hits, because I would hate to be stuck in my home for the next 10-15 years!
I don't think the economy will grow fast enough to support this continued fast appreciation? A weak world and national economic recovery and rising interest rates will hopefully prevent another bubble in Bend.

Of course we got caught up in this price rise as we are about to close on out first Bend property. (in a couple weeks) and we are buying sooner than I would have liked because of this past years quick rise. I wanted to wait until next summer but felt the need to move quickly before being priced out of our budget.

So I guess I am being part of the problem? Strange how these cycles go ? I am about to jump on the Bend roulette wheel, like everyone who does I think it will work out for us?

At least we won't have to worry about a place to live if we are able to find jobs in Bend.
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Old 08-27-2013, 03:09 PM
 
Location: Bend Or.
1,126 posts, read 2,929,183 times
Reputation: 958
This is the case nationwide, and I would assume because Bends hit was larger than most, the rise is as well.
This can hurt the overall recovery as Interest rates are up as well. It is going to put a damper on new construction which is necessary for recovery. I am hoping it levels out soon to grow stronger legs.

But John Q Public never learns.....
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Old 08-28-2013, 12:49 AM
 
2,542 posts, read 4,008,436 times
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Look carefully at the numbers and compare to the press.

June 2013 compared to June 2012

Ave Selling Price Breakdown
$0 - $199K____________+15%
$200K - $299K_________-2%
$300K - $499K_________+2%
$500K - $999K_________ -2%
>$1M_________________0% (No sales in 2012 but 4 in 2013)

July 2013 compared to July 2012

Ave Selling Price Breakdown
$0 - $199K____________+15%
$200K - $299K_________0%
$300K - $499K_________+2%
$500K - $999K_________ -7%
>$1M_________________11.5% (light data, 2 sales in 2012, 5 in 2013)

Units Closed July 2013 vs July 2012
$0 - $199K____________-44%
$200K - $299K_________33%
$300K - $499K_________38%
$500K - $999K_________ 82%
>$1M_________________150%
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Old 08-28-2013, 02:58 AM
 
Location: OR
722 posts, read 1,355,379 times
Reputation: 334
Moderator cut: link removed, linking to competitor sites is not allowed

Last edited by Yac; 09-04-2013 at 06:38 AM..
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Old 08-28-2013, 07:32 AM
 
Location: Bend Or.
1,126 posts, read 2,929,183 times
Reputation: 958
Quote:
Originally Posted by Snownut View Post
Moderator cut: link removed, linking to competitor sites is not allowed
That holds true to my comment. Top 100 bubbles, top 100 crashes, then we start the cycle again.

I grew up in one of the most expensive, highest appreciation towns in the USA. It is not a good thing. Even if the crashes do not occur, the area just changes and not for better.

As they say, the Billionaires drive the Millionaires out.

Real, hardworking folks don't have a chance.

Last edited by Yac; 09-04-2013 at 06:38 AM..
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Old 08-28-2013, 08:23 AM
 
Location: Redmond, OR
740 posts, read 1,252,382 times
Reputation: 472
I'm a retiree trying to buy a modest home in the Bend/Redmond area to live in, but haven't been able to sell my house, despite being near the Denver market which also has a high price growth rate. We're seeing plenty of inventory in our price range up there and now at the end of the season people are dropping their listing prices, as are we. It's still a good market for buyers - if you don't have to find a job too.
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