Could high cost of homes in Bend benefit surrounding towns.. (Redmond: real estate, 2014)

[ruck89]

So, being new to the area I finally drove around to some of the other towns in central Oregon near Bend. What I noticed is what is happening in almost every state, small towns barely holding on or dying that slow death. It sucks that Bend has such a high cost of living but if it remains high, is there a possibility that this could help rejuvenate other towns? La Pine isn't that far from Bachelor, Prineville is close to Ochoco NF. It sucks to think of these as commuter towns, but could it benefit them if they were?

Of course this is a loaded question, and one thought of Bend turning into a exclusive/only the wealthy type of community is gross but's it's kind of already happening.

Just curious.

[BendLocal]

I'm still trying to figure out if Bend can continue down this rapid appreciation path.

[Greener_Pastures]

It's always odd for me seeing questions like this about prices so high and the town only for the rich and things appreciating so much.

We're moving there in a month from Seattle and it's just as bad - if not worse - here. Things (mostly housing) are much cheaper there than they are here. We just signed a lease on a place, so we were doing a lot of researching and it was actually astonishing. We had a budget of $1400 a month for housing and there were many options of 3-4 bedroom houses with yards and garages. I did the same search here for Seattle and it's suburbs and it was pretty much nothing but apartments with a random beat up looking townhome - forget about a garage or yard. Our current place is up for rent for $200 more than what we signed up for just over two years ago - pretty steep increases here too.

There's defintely a question about whether Bend (and other cities) can keep up this pace, but from my perspective it's not too expensive right now, it's all about perspectives though.

Regarding the surrounding towns, I would think it's tough to call anything outside of Redmond much of a commuter town, but it's possible I guess and if people are willing to do the drive in exchange for more house, then there could be potential for growth. I would bet it's still pretty well capped though since Bend itself is relatively a pretty small town.

[BendLocal]

Originally Posted by Greener_Pastures

Things (mostly housing) are much cheaper there than they are here.

Buying or renting a home in Bend is expensive relative to the average wages earned working in Bend.

[Coniferian]

My daily commute from Conifer to my job in Denver was 56 miles round trip, often with gas at $4.00/gal. Redmond to Bend is 30 miles round trip. Depends on your priorities. I could have saved gas but would have spent more on mortgage by living in Denver. But in the mountains my house sat on over an acre and we had deer, elk, fox, turkeys and bear a few feet from our front door on a weekly basis. We just got tired of all the snow and retired here to Redmond.

[Coniferian]

According to the Central Oregon Association of Realtors, the median price of a single-family home increased nearly 8 percent in Bend from 2013 to 2014 and about 12 percent in Redmond. Looking at the chart in the Bend Bulletin, Redmond homes are going for $100K less than Bend.

[oregonwoodsmoke]

Originally Posted by ruck89

......small towns barely holding on or dying that slow death. .......

Of course this is a loaded question, and one thought of Bend turning into a exclusive/only the wealthy type of community is gross but's it's kind of already happening.........

There are no small towns near Bend that are dying a slow death. Redmond has increased greatly in size and has all sorts of new stores, new restaurants, and new manufacturing. Prineville is looking good, with all the new paint and businesses moving in.

There's nothing wrong with how Sisters is doing, with gorgeous and high priced new houses going in.

La Pine has a business strip now when they used to have a gas station/ bait store and not much else.

I predict that Bend prices will continue to go up. Lots of people want to retire in Bend and had to put off their retirement when the economy crashed. Now they can sell their house in California and finally move, bringing lots of money to run up the real estate prices.

As prices go up in Bend, in-comers start to move further out. They buy in Redmond, and when Redmond gets too expensive, they buy in Crooked River Ranch.

Sorry, but if you were hoping for cheap, that ship has already sailed and you missed it.

[redguard57]

What I noticed is what is happening in almost every state, small towns barely holding on or dying that slow death.

What towns are you talking about?

Redmond has gone from 5,000 people 20 years ago to 27,000 today. Hardly dying. It definitely seems to be Bend's bedroom community although it also has a crime problem. My real estate agent said in 2020 Redmond is projected to top 35,000. They keep close track of that because <35,000, Dept. of Agriculture loans still apply and that is really cheap money, increasing the qualified buyer universe.

La Pine was an unincorporated community not that long ago.

Sunriver. Hardly dying.

Madras is a little too far from Bend to be eligible for Bend outflow - it's about 50 minutes from downtown Bend to Madras.

Prineville? It's also a little too far out - about 40 minutes from downtown Bend. I could see Prineville developing as a bedroom community for Redmond but not Bend, but that won't happen until Redmond gets some kind of stronger economic base. As it is Prineville is not growing that much but not dying either.

Bend's problem is that it is rapidly turning into a place for affluent California retirees, while anyone who actually wants to live a life in Central Oregon has to be damn lucky to find a job that will support a family.

The entire west coast has this wealth inequality problem. It's why states in the south like Texas, Georgia and North Carolina are doing better because a younger family can actually afford to live there in a halfway decent house.

The lack of decent jobs in Central Oregon is a serious problem. Crook county (Prineville) has the 2nd highest unemployment in the state, Deschutes county not that far behind. The whole state is in the dubious spot of top 10 for unemployment nationally. Oregon's economy in general sucks.

[BendLocal]

Originally Posted by redguard57

The lack of decent jobs in Central Oregon is a serious problem.

Agreed. A serious problem indeed.

[StealthRabbit]

I grew up in Estes Park, CO...

Similar situation. Desirable place = There are always enough newcomers and trust fund babies, to keep the housing prices high.

ACA and lack of good HS internet drives another stake in the heart of rural USA towns, we will all have to eventually move to a city with a Starbucks or McDonalds to check our email and balance the checkbook.

Bend was a bargain just 2-3 yrs ago. My neighbor from WA bought 4 homes there during the downturn.
They stay rented, he collects payment while spending the winter in Tahiti.