Bend Oregon Real Estate

The Bend Oregon Real Estate Blog ~ Learn about Homes For Sale in Bend, OR. Here!

New Homes Sales Surge

Median sales price up 11.7% Nationwide

 

Marketwatch Sales of new single-family homes in the U.S. rose 5.7% in September to a seasonally adjusted annual rate of 389,000, the highest pace since April 2010, when the first-time homebuyer tax credit was initially due to expire, the Commerce Department said.

“Though the level of new-home sales remains very low, this report adds to the evidence of housing market recovery,” said analysts at RDQ Economics.

The government revised down the sales pace in August to 368,000 from a prior estimate of 373,000.

Economists surveyed by MarketWatch had expected new-home sales in September to rise to an annual rate of 387,000, given recent gains in other housing-market data, such as confidence among home builders, as well as housing starts and permits. 

We have experienced double digit price increases in Bend OR YTD

 

Despite the gain in September, the pace of new-home sales remains relatively low compared with a peak of almost 1.4 million in 2005. But it’s improved 42% from a low of 273,000 in early 2011 as mortgage rates have hit record lows, foreclosures have dropped, and the jobs picture has slowly improved.

U.S. stocks were mildly higher on the session. An exchange-traded fund of home builders has more than doubled in the last year.

The median sales price in September shot up 11.7% year-on-year to $242,400.

The supply of new homes declined to 4.5 months at September’s sales rate from 4.7 months in August.

 

Call Greg Broderick, Broker if you have any question on the real estate market in Bend, Oregon

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The Bratton Report - Bend, Oregon

 

Just in... The Bratton Report for Central Oregon

October 2012. View the latest market update on the Central Oregon real estate market here on http://www.BendRealEstate.com . Click on link below to learn more about the local homes for sale and homes sold trend, while viewing charts, graphs & statistics on what is happening in todays everchanging Bend Real Estate landscape. through September of 2012. (Hint, It's all good news for local property owners).

Have a question on the data? We know Bend Real Estate! Call (541)280-2363 or email greg@BendRealEstate.com to ask a local expert about a home purchase or sale in Deschutes County. The Hasson Company Realtors and Greg Broderick, the Sign of Experience. View Bratton Report here

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Listings of Homes For Sale Drop, As Housing Market Recovers

 

Housing Inventory Down...

The number of homes listed for sale in the U.S. fell 18 percent last month from a year earlier, and the time they stayed on the market dropped 11 percent, signs of a strengthening housing market, according to Realtor.com data. You can watch a video about the recovery here

There were 1.8 million homes for sale in September, down from 2.2 million a year earlier and more than 40 percent below the September 2007 peak of 3.1 million, according to the National Association of Realtors’ website. Properties on the market last month had been listed for an average of 95 days, down from 107 days a year earlier, Realtor.com said today.

"The real estate recovery is well on its way in Bend, Oregon. The home buyers who have sat on the fence for the last18 months will now find the market more competitive, with prices in Bend, OR up 10% YTD. The good news is, interest rates are at record lows, and many well priced homes still currently exist in the market place". Greg Broderick, Broker (541)280-2363

“There’s a recovery,” Curt Beardsley, vice president of Realtor.com, operated by Campbell, California-based Move Inc., said in a telephone interview. “Our market times are low and there’s actually a compression of inventory.” Read more on a housing recovery here

Demand for homes has begun to rebound as low interest rates and property prices 30 percent below their July 2006 peak increase affordability. The number of repossessed homes and short sales coming to market also is declining. Foreclosure filings, including notices of default and bank seizures, dropped in the third quarter to their lowest level since 2007, RealtyTrac Inc. reported on Oct. 11.

Rising demand is starting to push up home values. The median asking price was $191,500 last month, up 0.8 percent from a year earlier, according to Realtor.com.

Inventories have fallen the most and asking prices risen the fastest in regions that were hit hardest by the real estate crash, such as cities in Arizona and California, according to Realtor.com data from 146 metropolitan areas. At the other end of the spectrum, asking prices fell in both Chicago and Philadelphia, one of only two cities where the number of listings increased. The other was Shreveport, Louisiana.

‘Older, Industrialized’

“Older, industrialized areas have economies that don’t turn around quickly,” Beardsley said in a telephone interview from Austin, Texas, where he was traveling for work.

Sales of previously owned homes climbed to an annual pace of 4.82 million in August, the highest level in two years, according to the Chicago-based National Association of Realtors. Sales probably declined to a 4.75 million pace last month, the median estimate of 59 respondents in a Bloomberg survey. September data will be released Oct. 19.

Source: Bloomberg http://www.businessweek.com/news/2012-10-15/listings-of-homes-for-sale-drop-as-u-dot-s-dot-housing-recovers

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Your Bend Home For Sale - Does it need a white picket fence?

Great First Impressions. Your Homes Curb Appeal.

Many of us grew up hoping we'd one day own the perfect American suburban dream, a home with a white picket fence. And, there is a certain charm and warmth that comes with a house lined with pickets. However, when you look at fencing today and the options available for your home, there is a lot more to choose from and so you can and should shop around! First of all your fencing should be determined by your lifestyle needs and surrounding area. Are you located on a sprawling ranch or nestled between lofts in the city? Your fencing may need to be dictated by those factors, in part. Do you have a need to keep animals in or out? If so, special electric dog fencing, a solid wall or deer fencing may be essential for your home. You can learn more about selling your home by increasing your curb appeal here

Blend In, Not Out.

Next, you should consider the overall look and feel of your home and landscaping. Your fencing should blend with your existing structure, unless you purposely choose a more distinctive look. Keep in mind that the height of your fence will matter, as well. Remember, the fencing is more than just a barrier against the outside world, it also sets the tone for the look and feel of your home. You See great examples of homes for sale with killer curb appeal here

Make sure you evaluate the type of materials that would be best used in terms of maintenance. Lattice and wood fencing will require more regular maintenance than vinyl, metal mesh, wrought iron or post and rail options, but may be your best choice if expense is an issue. The more decorative the fencing, the higher the cost, generally speaking. There are a variety of quality material now availbale to the do it yourself-er!

Does your neighborhood in Bend, OR allow Fences?

Obviously privacy and security are always considerations when it comes to your home and fencing, so it's important to make sure you feel comfortable with your chosen materials and design. Take the time to carefully evaluate local resources such as your neighbor's fencing choices and your local home improvement store to gain a good understanding of what is available to you before making your decision. Sometimes a combination of fencing types is the best way to ally all your concerns and create beauty in the fencing of your home. And be sure to check with the city of Bend or your local HOA prior to construction. In many cases, a permit may be required, or at least HOA approval.

Need a good contractor in Bend? Call us for several recommendations.

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