WHO'S WHO IN LUXURY REAL ESTATE AND LUXURYREALESTATE.COM
Bend Premier Real Estate is a member of Who's Who in Luxury Real Estate, an international network of more than 1000 brokerage firms in more than 80 countries representing the finest residential luxury estates and premier brokerages in the world.
Each member has been recognized in their geographic area as a leader in the marketing of distinctive and luxury properties, committed to high performance, professionalism, and quality service. Known in the industry for the last quarter-century as the leading Luxury Real Estate network, their agents collectively sell in excess of $190 billion of real estate annually, with an average sale price of $2,450,000.
Bend Premier Real Estate is proud to list its Premier Collection of Fine Homes on LuxuryRealEstate.com , the most viewed luxury real estate site in the world.
LuxuryRealEstate.com, a Webby Award Honoree, has been voted ‘Best of the Web’ by Forbes magazine multiple times, praised by the International Herald Tribune, Town & Country, the Wall Street Journal and has been ranked ‘Best Website’ by consumers according to surveys by the Luxury Institute.
Since its debut in 1995, LuxuryRealEstate.com has remained the #1 portal for luxury properties on the internet, consistently driving more traffic to member websites and generating more qualified inquiries than any other website. LuxuryRealEstate.com has several times more $1,000,000+ content of any near-peer.
#1 Independent Locally Owned Brokerage in Central Oregon
Bend Premier Real Estate Launches New Search APP
Searching for Bend Real Estate or the surrounding communities of Redmond, Sisters, Madras, LaPine, Sunriver, and Prineville just got a whole lot easier with our NEW SEARCH APP. Using the latest in GPS mobile technology, you can now quickly and efficiently pinpoint properties for sale in the immediate area from wherever you are located in Central Oregon. You can also search for recent sales, save your searches, share your searches with others, and even contact a Premier Agent for more information or for a showing right from your mobile device.
Plus you can still do a traditional MLS real estate search anywhere in Central Oregon by city (e.g., Redmond, Prineville, Sunriver), price, type of home, home features (e.g., number of bedrooms, bathrooms, etc.), type of property, and so much more.
As the largest locally owned independent real estate brokerage in Central Oregon, Bend Premier Real Estate continues to lead the way in real estate technology in order to give our clients the "Premier Experience" they truly deserve!
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When you hear somebody describe Bend, it always sounds too good to be true. Imagine relocating to a place with sunny skies and endless recreational opportunities in an emerging cosmopolitan atmosphere, but without the crowds, traffic, and pollution of the big city. Dog Fancy Magazine named Bend the “Dog friendliest city in the nation”; Outdoor Life Magazine put Bend at the top of the list as the place for “outdoor sportsmen”; and with the Mt. Bachelor Ski Area just up the road, USA Today referred to Bend as the “New Boulder”. Bend was also recognized by CNN Travel as one of the top 10 beer towns in the USA, the top biking town by Mt. Bike Action Magazine, the “Next Big City for Entrepreneurship” by Entrepreneur, and a “Top Place to Retire” by Where to Retire Magazine. These are just a few of the many accolades being praised on Bend by others, but perhaps Sunset Magazine put it best when they said “Whoever visits Bend, moves to Bend…”.
Are you Searching for Bend Oregon Real Estate?
A Faster and More Powerful Way to Search for Homes in Bend Real Estate
At Bend Premier Real Estate, we employ advanced REWIDX technology for a more powerful, yet simpler way to search BEND OREGON REAL ESTATE,
Are you looking for new construction? Find all the MLS Listings for new construction in Bend for 2014 by clicking here. Or perhaps you want to see all the new mls listings that have hit the market? Check out our 7 day Hot Sheet for listings that have hit the market in the past week, or for the very latest listings click Today's Hot Sheet Listings.
Although the amount of distressed properties in Central Oregon has decreased in the past couple of years, there is still strong demand from investors and bargain seeking homeowners alike. For the latest on local distressed properties you can search Bend Bank Owned Foreclosures (REO), or Bend Short Sales.
If you are looking for luxury properties, we invite you to look through our Premier Collection of fine homes, which are also listed in Luxury Real Estate. These homes represent a variety of luxury properties in Bend over $500,000 with outstanding amenities for the discerning buyer. Many of these homes also include home video tours and/or 360° virtual tours.
Our simple yet powerful Bend IDX Search allows you to search all available properties and homes for sale in Central Oregon the way a realtor would search: by City, Subdivision, and Zip Code. Once you establish the area, we make it easy to search by Bank Owned or Short Sales, Property Type, Amenities, Lot Size, Year Built, Days on Market, and more. Once you register with us, you can easily save your home searches, keep track of your favorites, and even have the newest listings that match your search criteria emailed to you as soon as they hit the market. The Bend real estate market landscape changes daily. Check out the latest properties to hit the market here!
Our New Mobile Search APP
Bend continues to experience a low inventory of homes compared with the demand which in turn is leading to rising prices. As recently as July 2014, Bend had only a 2.9 month supply of homes, condos and townhomes with an average cost per square foot of $182. This price is 11.8% up over the same month a year ago. The average price of a sold home is up from $311,000 in January to $366,000 in July. The average days on market is also staying more consistent to just over 100 for May, June and July. To find out more on how these trends can impact your decision to buy or sell Bend Real Estate, please contact one of our Premier Agents or give our office a call at 541-323-2779.
Bend Oregon Real Estate Trends June 2014
National Real Estate Trends June/July 2014
Thanks to lower mortgage rates and increased supply of new homes hitting the market, there has been a sharp increase in the number of pending home sales over the past 30 days nationwide according to the National Association of Realtors®. The biggest gains in pending home sales has been in the northeast (+8.8%) and in the west(+7.6%). However, it should be noted that sales are down considerably in the west (11.1%) when compared to 1-year ago. For the remainder of the year, NAR Chief Economist Lawrence Yun predicts the market for home sales should continue to be positive due to "favorable mortgage rates, more inventory, and improved job creation."
Despite this optimistic report, Yun cautions that sales to first time homebuyers remains sluggish as "affordability and access to credit" continues to be a concern. So where the "flourishing stock market" has increased sales in the higher price brackets, sales of homes under $250,000 nationally are running about 10% behind last year's rates. This lack of affordable housing is expected to increase the price of apartment rentals about 8%. According to Yun, "Solid income growth and a slight easing in underwriting standards is needed to encourage first time home buyer participation, especially as renting becomes less affordable.
Bend Oregon Real Estate Trends July 2014
Bend continues to experience a low inventory of homes compared with the demand which in turn is leading to rising prices. As recently as July, 2014, Bend had only a 2.9 month supply of homes, condos and townhomes with an average cost per square foot of $182. This price is 11.8% up over the same month a year ago. The average price of a sold home is up from $311,000 in January to $366,000 in July, although the asking price has leveled off to just under $500,000. The average days on market is also staying more consistent to just over 100 for May, June and July. To find out more on how these trends can impact your decision to buy or sell Bend Real Estate, please contact one of our Premier Brokers or give our office a call at 541-323-2779.
The National and Local Bend Real Estate Trends (10/31/14).
Bend Oregon Real Estate Trends
The National Association of Home Builders (NAHB) is projecting a “robust” housing market for 2015. The top reasons given by NAHB Chief Economist David Crowe for this positive outlook includes continued economic growth, projected low interest rates, and pent-up demand for housing by those who have “delayed” buying a home due to “job insecurity”.
As for actual numbers, the NAHB estimates for 2014 are 991,000 “total housing starts” nationwide, up 6% from 930,000 in 2013. But more important are the projections for 2015 where “single family” housing starts are projected by NAHB to increase from 637,000 homes this year, to 802,000 homes in 2015 (+26%), and 1.1 million homes in 2016. This increase in home production would take us close to the 2000-2003 eras which averaged about 1.3 million housing starts annually.
Although home builders nationally have been ramping up production, Moody’s Analytic Chief Economist Mark Zandi is still projecting a housing shortage. New “household formations” following the great recession and the pent-up demand according to Zandi will create a need for about 1.7 million homes per year, which is far below the projected production of about 1 million homes annually.
The NAHB does caution that the highest demand will likely by in the energy producing states- North Dakota, Montana, Texas, Wyoming, and Louisiana- and lowest where labor markets are weakest -Alabama, Rhode Island, New Mexico, New Jersey, Arizona, and Nevada. However, by the end of 2016 production rates should overall be as high as 90% of normal for single family housing starts.
How is the Bend Real Estate faring in this housing market? The demand for new housing continues to be very strong! According to Trend Vision, for the 3rd quarter of 2014 new home sales were up 42.9% over the same period in 2013, with the average square foot price up 4.2% year over year. Compared with the same quarter in 2013, there was also 13.5% less months of inventory based on closed sales, leading expectations that demand for homes in Bend will remain high.
The “Housing Affordability Forum and survey” recently completed by the nonprofit group Bend 2030 brings up an interesting question… Is the Bend real estate market getting out of reach for most middle income households?
One particularly revealing statistic is to look at what percentage of available homes in Bend can the middle class afford in comparison to middle class families in other metro areas or the US market as a whole. Utilizing a standard of 31% of “median household income” for mortgage payments (i.e., principal, interest, taxes, insurance), a 30-year loan with 4% interest rate, 20% down payment, and with a median household income for full year 2013 of just $46,791 (United States Census Bureau), the ballpark figure of how much home a middle class family can afford in Bend is $235,000. This figure represents just 7.7% of all residential single-family homes currently for sale in the Bend real estate market that would be within reach of Bend’s middle class population.
When comparing to data posted by TruliaTrends earlier this month, Bend would rank near the top of all US metro areas with the lowest percentage of homes within the budget range of the middle class. San Francisco, for example, is among the least affordable with its skyrocketing home values having just 14% of homes available to the middle class budget. Other out of reach metro areas for the middle class in the top group includes Orange County, CA (23%), Los Angeles (25%), San Diego (28%), and New York (25%). It isn’t until you look at sub-metro areas such as Manhattan (2%) where you see the kind of disparity between home pricing and median household incomes as we are seeing in the Bend real estate market.
In contrast, the most affordable areas in the nation are generally located in the Midwest and upstate New York. Examples of the most affordable areas are Dayton and Akron Ohio which top the list (85%), Gary Indiana (84%), and upstate New York such as Rochester (76%). Compare these numbers to the US as a whole, where about 60% of homes are within reach of the middle class.
Perhaps the above data and the Bend 2030 plan leads to more questions than provides answers. Such as how can we build more affordable housing in Bend with land prices continuing to rise? Where else can the lower and middle class find housing with available rental occupancy rate being less than 1%? Will the City of Bend and the state be able to come to some agreement on expanding the urban growth boundary in the near future? Or will the bulk of available buildable land remain in the hands of a few investment groups? Right now, there simply are no easy answers… just questions.
Is Housing Affordable in Bend to the Middle Class? (12/1/14)