Well summer has seen considerable real estate activity as bargain hunters have decended on Bend to take advantage of the spectacular bargains available across every price point. Sales of low end REO (bank owned) and short sale properties have been brisk with some homes that are incredible values getting multiple offers and selling in a week. Luxury properties have not been immune to price cuts as we have seen some $1.6M homes sell in the $800K to $900k range. There are bank owned houses in ever price point as the recession has hit Bend hard. People who always wanted to live here but couldn't afford it now can. Buyers that work from home or are retiring have come to Bend to shop the values. Inventory is down from the peak in spite of continued foreclosures.
If you have been to Bend you already know what a great recreational town this is with golf, skiing, fishing, boating, hiking, music venues, shopping and dining and much more. Its just until now it was a pretty expensive place to live compared to other parts of the country but always less than California and Washington major metropolitian areas. Now prices have been rolled back to levels seen in 2004. This won't last forever as Bend is still the great town it always has been.
If you haven't seen it, there was a recent article that stated Bend will be the 2nd highest appreciating city in the U.S. by 2014. Send me an email and I will send you the article. Bend has been at the top of lists of cities to retire to for years and that hasn't changed. So if you have ever contemplated moving here or getting that Oregon second home, now's the time. For what you can sell a Mill Valley tear down or Seattle split level for you can buy a lavish 4000 SF custom with all the bells and whistles and Cascade mountain or expansive city views. Come see for yourself, and I will show you what great houses money can buy here now. Call or email me to set up some showings.
Joe