Bend Real Estate in the News

31 07 2008

Bend touted for home ‘bargains’ – one for $6 million


This five-bedroom, seven-bath chateau style home in Broken Top gated community can be yours for $6 million
This five-bedroom, seven-bath chateau style home in Broken Top gated community can be yours for $6 million

Broken Top home no longer priciest on the market

By Deanne Goodman, KTVZ.COM

Bend is in the national spotlight again, this time hailed as a great place to buy a home.

Tuesday’s USA Today article features one of the most expensive homes in Bend. But while the $6 million dollar Bend home was the most expensive on the market when the article was written, it was not by the time the paper hit newsstands. In that short time a more expensive home went up for sale.

With so many homes for sale right now, brokers say bargains are everywhere.

Could a $6 million home be considered a bargain? In another city definitely, but in Bend it’s among the most expensive homes ever on the market.

“With a property like this, we do need to reach out to the rest of the country and hit those high-end buyers” broker Dan Reedy said Tuesday.

The home has a wine cellar, golf course views, a media center and granite imported from Italy. Lucky for Reedy, the Broken Top property, on the market for about three months, got free national exposure in Tuesday’s edition of USA Today.

The article pinpoints Bend as a great place to buy a home. Realtors couldn’t agree more.

“It’s definitely a buyer’s market,” said Tom Greene, president of the Central Oregon Association of Realtors. But he added, “If you have to sell, you have to be realistic. Our market is down anywhere from 29 to 39 percent. ”

Sales are down as well, but Greene believes the market will bounce back in a couple of years. “We hit that $270,000 median price two months ago, and now its back to up to $315,000.”

Greene says the only drawback to buying now is facing the overwhelming decision of choosing just one.

“The problem I’m seeing with Bend is that there’s 2,300 homes on the market,” he said. “Buyers are having trouble making up their minds.”

Whether it’s a high-end home or one closer to the median price, Realtors have the challenge of luring interested buyers, even in a scenic city like Bend.

USA Today takes a look at housing markets across the U.S. each week. Las Vegas gets the attention in next week’s article.

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