Bend Real Estate in the News

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

Video Gallery Pricey Bend home draws national spotlight (7/29) 2: 04

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

Also on KTVZ.com USA Today salutes Bend as real estate ‘bargain’

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.

What do you think of the Tour of Homes houses?

There has been a little discussion occurring on my “If you have 1.5 Million Lying around” post.

But it has me curious as to what you all think of the houses that you have seen on the Tour of Homes this year.

As I mentioned in a couple earlier posts: I am hosting the open house at the Reserve at Broken Top but I am not the listing agent.  I have 2 lot listings in The Reserve, and will be holding open houses up there (pretty much until the end of time), but I won’t be offended by your feedback (I have some of my own in fact)

Buyer feedback is an essential aspect to selling real estate.  It keeps the seller in touch with what people (that aren’t emotionally attached to the house) actually think about the house and how it is priced.

Obviously there is a lot of media hype about the state of the real estate market, but the bottom line always comes down to the fact that houses are worth what people are willing to pay.  Asking way too much for your house to begin with, and then having to sell it for 30% less than the listing price (because that’s what someone was willing to pay) doesn’t mean that the real estate market is “bad”, it just means your house isn’t worth what you want it to be worth.

Now don’t take this to mean that I think the real estate market is booming (I think my bank account speaks to the contrary) I am simply trying to get a feel for what people like/dislike about the houses on tour this year and your opinion on their pricing.

Are you impressed?

Are you disappointed?

Do you think the homes you’re viewing are a value?

Would you want to live in those houses?

Are there any neighborhoods that stand out in your mind?

etc….

2008 COBA Tour of Homes

The time has come once again for the Central Oregon Builders Association’s Tour of Homes

July 18,19,20 and July 25,26,27, 2008

20th Annual Central Oregon Builders Association Tour of HomesTM

The Central Oregon Builders Association (COBA) is pleased to present the 20th Annual 2008 Tour of HomesTM sponsored by Columbia River Bank. The field of 73 homes is set for the 2008 Tour, and we anxiously await the tour dates of July 18, 19, 20 and July 25, 26, 27. Hours for the tour this year will be the same as past years Fridays Noon – 6, Saturdays & Sundays 10-6. Remembering that it will be the height of summer, we advise attendees to dress appropriately and to bring plenty of water in their cars.

The 20th Annual 2008 Tour of HomesTM tour guide will be available in each Tour home as well as being delivered in The Bulletin right before the Tour begins. If you are interested in advertising in the tour guide please contact The Bulletin at 382-1811.

The 20th Annual 2008 COBA Tour of HomesTM is annually presented in July with the generous support of our sponsors. The 20th Annual 2008 Tour of HomesTM is sponsored by Columbia River Bank, and supported by Earth Advantage, The Garner Group, W.L. May Company, Robberson Ford, Deschutes Heating & Cooling, Central Oregon Cable Advertising, The Bulletin, and KOHD News.

The 20th Annual 2008 Tour of HomesTM field is set at 74 homes. Our second largest Tour! Prices on the Tour range from $207,950 to $3,200,000!

I will be holding The Reserve At Broken Top open every day of the tour (Friday 12-6, Saturday 10-6 & Sunday 10-6)

Please come see me!