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• January 25, 2012
• 16:22

  Pending Home Sales

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  Pending Home Sales Decline in December, Remain Above a Year Ago

  Washington, January 25, 2012

  After reaching a 19-month high, pending home sales eased in December but stayed above year-ago levels, according to the National Association of Realtors®.

  The Pending Home Sales Index,* a forward-looking indicator based on contract signings, declined 3.5 percent to 96.6 in December from 100.1 in November but is 5.6 percent above December 2010 when it was 91.5. The data reflects contracts but not closings.

  Lawrence Yun, NAR chief economist, said the trend line remains positive. “Even with a modest decline, the preceding two months of contract activity are the highest in the past four years outside of the homebuyer tax credit period,” he said. “Contract failures remain an issue, reported by one-third of Realtors® over the past few months, but home buyers are not giving up.”

  Yun said some buyers successfully complete the sale after a contract delay, while others stay in the market after a contract failure and make another offer. “Housing affordability conditions are too good to pass up,” he said. “Our hope is lending conditions will gradually improve with sustained increases in closed existing-home sales.”

  The PHSI in the Northeast declined 3.1 percent to 74.7 in December and is 0.8 percent below a year ago. In the Midwest the index rose 4.0 percent to 95.3 and is 13.3 percent higher than December 2010. Pending home sales in the South slipped 2.6 percent to an index of 101.1 in December but are 4.9 percent above a year ago. In the West the index fell 11.0 percent in December to 107.9 but is 3.7 percent higher than December 2010.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales; it coincides with a level that is historically healthy.

  NOTE: Existing-home sales for January will be reported February 22 and the next Pending Home Sales Index will be released February 27; release times are 10:00 a.m. EST.

  Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section. Statistical data in this release, other tables and surveys also may be found by clicking on Research.

  REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.

• December 26, 2011
• 5:40

  Home Sales Climb in November

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  Existing-Home Sales Continue to Climb in November

  Washington, DC, December 21, 2011

  Existing-home sales rose again in November and remain above a year ago, according to the National Association of Realtors®. Also released today were periodic benchmark revisions with downward adjustments to sales and inventory data since 2007, led by a decline in for-sale-by-owners.

  Although rebenchmarking resulted in lower adjustments to several years of home sales data, the month-to-month characterization of market conditions did not change. There are no changes to home prices or month’s supply.

  The latest monthly data shows total existing-home sales¹, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 4.0 percent to a seasonally adjusted annual rate of 4.42 million in November from 4.25 million in October, and are 12.2 percent above the 3.94 million-unit pace in November 2010.

  Lawrence Yun, NAR chief economist, said more people are taking advantage of the buyer’s market. “Sales reached the highest mark in 10 months and are 34 percent above the cyclical low point in mid-2010 – a genuine sustained sales recovery appears to be developing,” he said. “We’ve seen healthy gains in contract activity, so it looks like more people are realizing the great opportunity that exists in today’s market for buyers with long-term plans.”

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 3.99 percent in November from 4.07 percent in October; the rate was 4.30 percent in November 2010; records date back to 1971.

  NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami, said housing affordability conditions have set a new record high. “With record low mortgage interest rates and bargain home prices, NAR’s housing affordability index shows that a median-income family can easily afford a median-priced home,” he said.

  “With consumer price inflation rising by more than 3 percent this year, consumers are looking to lock-in steady payments by taking out long-term fixed-rate mortgages. However, the problem remains that some financially qualified families who are willing to stay well within their means are being denied the opportunity to buy in today’s market by the overly restrictive mortgage underwriting situation,” Veissi said.

  An elevated level of contract failures continues to hold back a broader sales recovery. Contract failures² were reported by 33 percent of NAR members in November, unchanged from October but notably above a year ago when it was 9 percent.

  Contract failures are cancellations caused by declined mortgage applications, failures in loan underwriting from appraised values coming in below the negotiated price, or other problems including lower conforming mortgage loan limits, home inspections and employment losses.

  Also released today are benchmark revisions³ to historic existing-home sales. The 2010 benchmark shows there were 4,190,000 existing-home sales last year, a 14.6 percent revision from the previously projected 4,908,000 sales. For the total period of 2007 through 2010, sales and inventory were downwardly revised by 14.3 percent. The revisions are expected to have a minor impact on future revisions to Gross Domestic Product.

  “From a consumer’s perspective, only the local market information matters and there are no changes to local multiple listing service (MLS) data or local supply-and-demand balance, or to local home prices,” Yun explained.

  A divergence developed over time between sales reported by MLSs and sales determined by a U.S. Census benchmark; the variance began in 2007. Reasons include growth in MLS coverage areas from which sales data is collected, and geographic population shifts. “It appears that about half of the revisions result solely from a decline in for-sale-by-owners (FSBOs), with more sellers turning to Realtors® to market their homes when the market softened. The FSBO market was overwhelmed during the housing downturn, and since most FSBOs are not reported in MLSs, national estimates of existing-home sales began to diverge based on previous assumptions,” Yun said.

  NAR consumer survey data in 2000 showed FSBOs accounted for a 16 percent market share, which fell to a record low 9 percent in 2010.

  “In essence, Realtors® began to capture a greater market share. In addition to a decline in FSBO transactions, more builders began marketing new properties through real estate brokers that weren’t completely filtered from the existing-home data,” Yun said. “Some property listings on more than one MLS, and issues related to house flipping, also contributed to the downward revisions.” The new independent benchmark was discussed with government agencies and outside housing market experts, and will allow for annual revisions in the future.

  Total housing inventory at the end of November fell 5.8 percent to 2.58 million existing homes available for sale, which represents a 7.0-month supply⁴ at the current sales pace, down from a 7.7-month supply in October. “Since setting a record of 4.04 million in July 2007, inventories have trended down and supplies are moving close to price stabilization levels,” Yun said.

  The national median existing-home price⁵ for all housing types was $164,200 in November, down 3.5 percent from a year ago. Distressed homes – foreclosures and short sales typically sold at deep discounts – accounted for 29 percent of sales in November (19 percent were foreclosures and 10 percent were short sales), compared with 28 percent in October and 33 percent in November 2010.

  All-cash sales accounted for 28 percent of purchases in November; they were 29 percent in October and 31 percent in November 2010. Investors make up the bulk of cash transactions.

  Investors purchased 19 percent of homes in November, little changed from 18 percent in October and 19 percent in November 2010. First-time buyers accounted for 35 percent of transactions in November, up from 34 percent in October and 32 percent in November 2010.

  Single-family home sales rose 4.5 percent to a seasonally adjusted annual rate of 3.95 million in November from 3.78 million in October, and are 12.9 percent above the 3.50 million-unit level in November 2010. The median existing single-family home price was $164,100 in November, down 4.0 percent from a year ago.

  Existing condominium and co-op sales were unchanged at a seasonally adjusted annual rate of 470,000 in November and are 6.8 percent higher than the 440,000-unit pace one year ago. The median existing condo price⁶ was $164,600 in November, which is 0.2 percent below November 2010.

  Regionally, existing-home sales in the Northeast jumped 9.8 percent to an annual pace of 560,000 in November and are 7.7 percent above a year ago. The median price in the Northeast was $240,200, which is 0.1 percent below November 2010.

  Existing-home sales in the Midwest rose 4.3 percent in November to a level of 960,000 and are 15.7 percent higher than November 2010. The median price in the Midwest was $133,400, down 4.0 percent from a year ago.

  In the South, existing-home sales increased 2.4 percent to an annual pace of 1.74 million in November and are 12.3 percent above a year ago. The median price in the South was $143,300, which is 2.1 percent below November 2010.

  Existing-home sales in the West rose 3.6 percent to an annual level of 1.16 million in November and are 11.5 percent higher than November 2010. The median price in the West was $195,300, down 8.4 percent below a year ago.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  NOTE: NAR also tracks monthly comparisons of existing single-family home sales and median prices for select metropolitan statistical areas, which is posted with other tables at: www.realtor.org/research/research/ehsdata. For information on areas not included in the report, please contact the local association of Realtors®.

  ¹Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings. This differs from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which generally account for 85 to 90 percent of total home sales, are based on a much larger sample – more than 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.

  The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

  Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

  ² Contract failures, all-cash transactions, investors, first-time buyers, and distressed sales are from a monthly survey for the Realtors® Confidence Index, posted at Realtor.org.

  ³Periodic benchmark revisions have been made to historic data back through 2007. Although there are downward revisions for total sales, there is little change to previously reported monthly comparisons or characterizations based on percentage change. There are comparable downward revisions to unsold inventory, so there is no change to relative month’s supply. Also, there is no change to median home prices.

  A divergence in sales projections developed over time between the fixed model for calculating annualized sales rates and the actual marketplace, including a decline in for-sale-by-owner transactions, growth in multiple listing service coverage areas, geographic population shifts, some new-home sales trickling into MLS data and some individual sales being recorded in more than one MLS. Divergence of the data with other housing data metrics began in 2007.

  NAR began to capture a larger share of actual transactions than was assumed in the calculation model based on the 2000 Census; resolving these issues has taking longer than anticipated in the absence of decennial data from the U.S. Census Bureau, which are no longer collected. Other major statistical series such as Gross Domestic Product and employment figures go through comparable periodic benchmark revisions to produce the most accurate data possible; the new benchmark process will permit annual revisions.

  NAR began its normally scheduled process for benchmarking sales at the beginning of 2011 in consultation with outside housing market experts. Data for the new benchmark was discussed with representatives of organizations including the Federal Reserve Board, U.S. Treasury, Department of Housing and Urban Development, Freddie Mac, Fannie Mae, Mortgage Bankers Association, National Association of Home Builders, CoreLogic, etc.; and some individual economists.

  The data and background are posted at http://www.realtor.org/research/research/ehs_benchmarking.

  ⁴Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, condos were measured quarterly while single-family sales accounted for more than 90 percent of transactions).

  ⁵The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if more data is received than was originally reported.

  ⁶Because there is a concentration of condos in high-cost metro areas, the national median condo price often is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes.

  The Pending Home Sales Index for November will be released December 29, and existing-home sales for December is scheduled for January 20; release times are 10:00 a.m. EST.

  Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section. Statistical data in this release, other tables and surveys also may be found by clicking on Research.

  REALTOR® is a registered collective membership mark which may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics. Not all real estate agents are REALTORS®. All REALTORS® are members of NAR.

• December 19, 2010
• 7:06

  Bend Oregon Real Estate Links

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  Here are some popular links to Bend Oregon Real Estate.

  LINK – Free Bend Oregon MLS Search

  Hot Property LINKS BELOW
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  Matt and Jim Johnson, Father and Son Team

  If you’re thinking about buying real estate in Bend you should sign up for our free New Listing Notification Service or call or e-mail today.   Let us help you find you new home in Bend!

  Call 541-480-2153 or see our web site to search the MLS - Bend Oregon Real Estate.  Licensed by the State of Oregon.  Bend Oregon Real Estate Expert.

• December 13, 2010
• 6:24

  Pending Home Sales Rebound in October

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  Free Bend Oregon Real Estate Search – LINK

  Home Sales on the Rise

  Washington, DC, December 02, 2010

  Pending home sales jumped in October, showing a positive uptrend since bottoming in June, according to the National Association of REALTORS®.

  The Pending Home Sales Index,* a forward-looking indicator, rose 10.4 percent to 89.3 based on contracts signed in October from 80.9 in September. The index remains 20.5 percent below a surge to a cyclical peak of 112.4 in October 2009, which was the highest level since May 2006 when it hit 112.6.

  Last October, first-time buyers were motivated to make offers before the initial contract deadline for the tax credit last November. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

  Lawrence Yun, NAR chief economist, said excellent housing affordability conditions are drawing home buyers. “It is welcoming to see a solid double-digit percentage gain, but activity needs to improve further to reach healthy, sustainable levels. The housing market clearly is in a recovery phase and will be uneven at times, but the improving job market and consequential boost to household formation will help the recovery process going into 2011,” he said.

  “More importantly, a return to more normal loan underwriting standards and removal of unnecessary underwriting fees for very low risk borrowers is needed and could quickly help in the housing and economic recovery,” Yun said. Recent loan performance data from Fannie Mae and Freddie Mac clearly demonstrates very low default rates on recently originated mortgages, much lower that the vintages of 2002 and 2003 before the housing boom.

  The PHSI in the Northeast jumped 19.6 percent to 71.3 in October but is 27.3 percent below the tax credit peak in October 2009. In the Midwest the index surged 27.3 percent in October to 81.7 but is 24.8 percent below a year ago. Pending home sales in the South rose 7.1 percent to an index of 93.8 but are 18.4 percent below October 2009. In the West the index slipped 0.4 percent to 104.3 and is 15.6 percent below a year ago.

  Near term, Yun expects home sales will continue to climb from their cyclical low this past summer. “Even so, we now have some consumer concerns regarding the mortgage interest deduction, an important component in housing affordability,” he said. “Preliminary results of a new survey show nearly three out of four home owners and two out of three renters consider the mortgage interest deduction to be extremely or very important to them. Home owners already pay between 80 and 90 percent of all federal income taxes and additional tax burden would hurt them and the economic recovery, so we have a reasonable hope that it will not be changed.”

  The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  ###

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• November 07, 2010
• 5:56

  Free Bend Oregon MLS Search

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  Free Bend Oregon MLS Search
  Click Here

  This is the best MLS search engine available for the public to search the Bend Oregon Multiple Listing Service.  There are not forms to fill out and it’s easy to use. 

  

  Jim Johnson, Principal Broker, Bend Oregon Real Estate Expert

   

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981. 

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• November 06, 2010
• 16:48

  Realtors Always Optimistic

   » ‎ Bend Oregon Real Estate Blog

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  Realtors® Cautiously Optimistic about Future of Housing Market

  Home Sales on the Rise

  New Orleans, November 06, 2010

  Real estate experts were cautiously optimistic about the current and future state of the industry at today’s State of the Real Estate Industry forum during the 2010 REALTORS® Conference & Expo.

  Panelist Margaret Kelly, chief executive officer of RE/MAX, said today’s market shouldn’t be called the new normal because the old market was abnormal. “The spike up and down in the housing market wasn’t normal so we shouldn’t be measuring ourselves against it,” she said.

  Kelly said that despite some challenges there are plenty of opportunities in the housing market, adding that low mortgage interest rates, abundant inventory and stable prices are attracting buyers to the market right now.

  “To be successful in the current housing market, real estate professionals need to educate themselves about buying and selling distressed properties and working with investor buyers, who are a significant part of the market,” said Kelly. “Education is critical. Real estate professionals should be learning how to handle short sales, how to market themselves and find buyers, and to really understand market conditions,” said Kelly.

  Kelly said she hopes the government will incentivize businesses to create more jobs, which is the only thing that will help the housing market fully recover. “Consumers want an instant fix but we need to be patient,” she said.

  Panelist Ron Peltier, chairman and CEO of HomeServices of America, Inc., said the nation is in the seventh inning of the housing market correction. He noted that today’s real estate market closely resembles the market in 2000, which many people thought was a good year in real estate.

  “The rise in sales and prices during the boom was unrealistic and unsustainable, and all of that nonsense has been pushed out of the market – today buyers need to have jobs and be creditworthy,” said Peltier. “The underlying principles of home ownership are now the same they were 100 years ago; we want a sense of home and community, we strive for long-term not short-term home ownership, and we have sense of pride for owning a home.”

  To achieve a full housing recovery, Peltier said that the market must work through the foreclosure issue, which is dragging down home sales and prices, consumer confidence and the health of the housing market and economy.

  “Stay the course and continue to give great service, and someday we’ll be back to a normal market with solid footing. We’ll have a much more logical housing market moving forward.”

  Panelist Alex Perriello, president and CEO of Realogy Franchise Group, told attendees there are no signs that the housing market will recover in the short term and that many agents and offices have had a difficult time adjusting to the new conditions by “right sizing” their offices with fewer staff and lower budgets. Perriello said that now is a great time for brokers to grow their market share through mergers or acquisitions and that finding good agents, providing quality education and good market information is key for success.

  Perriello said agents are working harder than ever for less money and are facing many challenges, including working with distressed clients who can’t sell their homes, are underwater on their mortgage or are facing foreclosure.

  Matt Vernon, senior vice president for retail sales at Bank of America Home Loans, offered perspective from the lender community. Vernon said short sales were never designed to be a mass market transaction in the industry and they’ve posed many challenges for lenders. He admitted that in the beginning, Bank of America and other lenders didn’t respond quickly enough to handle the large scale of short sale transactions, but hiring more staff, increasing education and developing an extreme customer focus have helped to shorten and improve the process.

  Vernon said his organization is fully committed to pursuing alternatives to foreclosure for home owners and despite rumors, credit is available to consumers for mortgages and refinancing.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• 16:41

  Bend Oregon Commercial Market Hoping to Improve

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  Steady Improvement Predicted for Commercial Market

  The Old Mill District Bend Oregon

  New Orleans, November 06, 2010

  While still experiencing challenges, the commercial real estate market could see signs of steady improvement in the near future, specifically concerning lending. This is according to two economists at the Economic Issues and Commercial Real Estate Business Trends Forum at the 2010 Realtors® Conference & Expo in New Orleans today.

  National Association of Realtors® Chief Economist Lawrence Yun and Hugh Kelly, clinical professor of real estate at New York University Schack Institute of Real Estate, shared their predictions surrounding the commercial market, indicating a slight improvement in commercial lending.

  “Banks’ profits have returned to healthy levels. As a result, it is inevitable they will return to the business they were created for, which is lending,” said Yun. “Commercial real estate has experienced a sharp price correction, but there is still a shortage of buyers because of lack of adequate capital resources.”

  Kelly pointed out that most commercial mortgages have been random and idiosyncratic, stressing that the lending environment should not remain that way. “The banks are in the driver’s seat, meaning they can cherry-pick deals and there is no stigma to turning away business,” said Kelly. “The capital flow in the commercial real estate market has been very selective. To achieve full recovery, lending practices must improve.”

  In addition to capital flow, the commercial market depends largely on job creation. Yun stated that since the beginning of 2010, 1 million jobs have been created, yet this number is not high enough. “We have turned a corner and while some job creation is good, we are still at close to 10 percent unemployment,” said Yun. According to Yun, the country needs to create much more than 100,000 jobs per month to have a meaningful impact on vacancy rates.

  Another challenge affecting the commercial market is corporate profits versus business spending. Yun said in an ideal market, corporate profits and business spending correlate; however, business spending currently is stagnant. Corporate profits have returned to normal, yet companies are not spending their cash. Yun described several reasons for why businesses are not spending, but he said it comes down to consumers and companies being unsure of the future economic climate.

  A majority of the commercial real estate sectors are still experiencing hardships with office and retail vacancies continuing to rise. However, Yun said with imports and exports in the U.S. rising, the demand for industrial space will improve. The only sector continuing to perform well is multifamily. Vacancy rates for multifamily properties are falling and rents are expected to rise. Yun said this was mostly due to home ownership rates falling and people postponing home purchases.

  Yun’s 2011 commercial forecast shows steady improvement in the market with rents stabilizing and net absorption slowly improving. Yun also predicts a moderate GDP expansion of 2 percent to 2.5 percent in the next two years and an unemployment rate of eight percent in 2012 and six percent in 2015.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• 16:27

  Long Term Home Ownership in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  NAR Home Buyer and Seller Survey Shows Value of Long-Term Home Ownership

  

  New Orleans, November 05, 2010

  Home buyers today have affirmed a long-term view of home ownership, the typical seller is experiencing positive returns and the vast majority of home owners see their property as a good investment, according to the latest consumer survey of home buyers and sellers. The study was released here today at the 2010 Realtors® Conference & Expo.

  The 2010 National Association of Realtors® Profile of Home Buyers and Sellers is the latest in a series of large national NAR surveys evaluating demographics, preferences, marketing and experiences of recent home buyers and sellers.

  Although typical sellers had been in their previous home for eight years, up from seven years in the 2009 study, first-time buyers plan to stay for 10 years and repeat buyers plan to hold their property for 15 years.

  NAR 2010 President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said the pattern of home buyers taking a long-term view has solidified over the past few years. “This underscores two simple facts – home ownership encourages stability, and the longer you own, the better your investment.”

  Even with several years of price declines, the typical seller who purchased a home eight years ago experienced a median equity gain of $33,000, a 24 percent increase, while sellers who were in their homes for 11 to 15 years saw a median gain of 40 percent.

  “Sellers who purchased at the top of the market and had to sell in a short time frame were hurt by the price correction, but the vast majority who are able to stay for a normal period of home ownership generally built enough equity to make a trade-up purchase,” Golder said. “Despite swings in the housing market in recent years, the fact is most long-term owners see healthy gains in the value of their property.”

  House flipping is virtually nonexistent in today’s market. “The primary exception is for experienced investors, many of whom pay cash and are making renovations or improvements after a careful study of properties, neighborhoods and market demand,” Golder explained. “The house flipping and quick gains which occurred during the boom period were abnormal, driven by risky, easy-money financing that should never have been allowed in the market.”

  In the 2006 study, covering sellers during the close of the housing boom, 6 percent of sellers had owned their property for less than a year and a total of 30 percent had owned for three years or less. In the 2010 study, only 3 percent had owned their home for less than a year and a total of 11 percent had owned for three years or less.

  Paul Bishop, NAR vice president of research, said the lion’s share of buyers view their home as a good investment. “Eighty-five percent of recent home buyers see their home as a good investment, and nearly half think that investment is better than stocks,” he said. “Even with the turmoil created by the housing boom and bust, this indicates the long-term view of home ownership as a fundamental goal and value remains sound. In fact, the single biggest reason most people buy a home is the simple desire to own a home of their own, cited by 31 percent of respondents, including 53 percent of first-time buyers.”

  The next biggest reasons for buying, identified by all home buyers, were desire for a larger home, 9 percent; a change in family situation and the home buyer tax credit, cited by 8 percent each; a job-related move, 7 percent; and the affordability of homes, 6 percent. Twelve other categories were 5 percent or less.

  The number of first-time home buyers rose to a record high 50 percent of all home sales from 47 percent in the 2009 study, building on success of the home buyer tax credit which began in 2009. The previous cyclical high for first-time buyers was 44 percent in 1991; records date back to 1981.

  The profile shows the median age of first-time buyers was 30 and the median income was $59,900. The typical first-time buyer purchased a 1,540 square foot home costing $152,000, with 93 percent using the first-time buyer tax credit.

  First-time buyers who made a down payment used a variety of sources: 74 percent used savings, 27 percent received a gift from a friend or relative, typically from their parents, and 9 percent received a loan from a relative or friend. Eight percent tapped into a 401(k) fund, and 6 percent sold stocks or bonds. Ninety-five percent chose a fixed-rate mortgage.

  The shares of entry-level buyers receiving a gift or loan were modestly higher than 2009 when 22 percent received a gift and 6 percent a loan from a relative or friend. “It appears more parents were motivated to help their children to take advantage of the home buyer tax credit and very favorable affordability conditions,” Bishop said.

  Fifty-six percent of entry level buyers financed their purchase with an FHA loan, while another 7 percent used the VA loan program. Forty-two percent said financing their first home was more difficult than expected and 9 percent had been rejected by a lender.

  Fifty-eight percent of all buyers are married couples, 20 percent are single women, 12 percent single men, 8 percent unmarried couples and 1 percent other.

  Bishop noted that women buyers have accounted for roughly one out of five transactions since the late 1990s, and single men have been at the one in 10 level since 1981. “A modest increase in the share of single men buyers may result from the home buyer tax credit, but this is the highest share for single men in the history of the study,” he said.

  Buyers searched a median of 12 weeks and viewed 12 homes. Fourteen percent of buyers own two or more homes.

  The typical repeat buyer was 49 years old, earned $87,000, and purchased a 2,000 square foot home costing $215,000.

  The median down payment of all home buyers was 8 percent, ranging from 4 percent for first-time buyers to 14 percent for repeat buyers.

  The median age of home sellers was 49 and their income was $90,000. Sellers moved a median distance of 18 miles and their home was on the market for 8 weeks, down from 10 weeks in the 2009 survey. Half traded up in size, 28 percent bought a comparably sized home and 21 percent traded down.

  Sixty-four percent of sellers chose their agent based on a referral or had used the same agent in the past. Reputation was the most important factor in choosing an agent, cited by 35 percent of respondents, followed by trustworthiness at 23 percent. Eighty-four percent of sellers are likely to use the same agent again or recommend to others.

  Forty-four percent of sellers offered incentives to attract buyers, such as home warranties or assistance with closing costs. The typical home sold for 96 percent of the listing price, compared with 95 percent in the 2009 profile.

  Home buyers thought the most important services agents offer are helping find the right house, and negotiating sales terms and price. Buyers also most commonly choose an agent based on a referral from a friend, neighbor or relative, with trustworthiness and reputation being the most important factors.

  Buyers use a wide variety of resources in searching for a home: 89 percent surf the Internet, 88 percent use real estate agents, 57 percent yard signs, 45 percent attend open houses and 36 percent look at print or newspaper ads. Although buyers also use other resources, they generally start the search process online and then contact an agent.

  When asked where they first learned about the home purchased, 38 percent of buyers said the Internet; 37 percent of buyers from a real estate agent; 11 percent a yard sign or open house; 6 percent from a friend, neighbor or relative; 4 percent home builders; 2 percent a print or newspaper ad; 2 percent directly from the seller; and less than 1 percent from a home book or magazine.

  Eighty-five percent of home buyers who used the Internet to search for a home purchased through a real estate agent, while 70 percent of non-Internet users were more likely to purchase directly from a builder or from an owner they already knew in a private transaction.

  Local metropolitan multiple listing service websites were the most popular Internet resource, used by 59 percent of buyers; followed by Realtor.com, 45 percent; real estate company sites, 43 percent; real estate agent websites, 42 percent; other websites with real estate listings, 41 percent; and for-sale-by-owner sites, 15 percent; other categories were smaller.

  Seventy-seven percent of all buyers purchased a detached single-family home, 9 percent a condo, 8 percent a townhouse or rowhouse, and 6 percent some other kind of housing.

  Commuting costs continue to factor strongly in buyer decisions, with three-quarters of buyers saying transportation costs were important.

  Environmentally friendly features remain a significant factor: 88 percent of buyers said that heating and cooling costs were important, 71 percent desired energy efficient appliances, and 69 percent wanted energy efficient lighting.

  Fifty-two percent of all homes purchased were in a suburb or subdivision, 18 percent were in an urban area, 17 percent in a small town, 11 percent in a rural area and 1 percent in a resort or recreation area. The median distance from the previous residence was 12 miles.

  Not surprisingly, for-sale-by-owner transactions reached a record low, accounting for 9 percent of sales in the 2010 study, down from 11 percent in 2009. The share of homes sold without professional representation has trended down since reaching a cyclical peak of 18 percent in 1997. “In a market as challenging as today, it’s clear most home sellers need professional assistance,” Bishop said.

  As seen in previous studies, many FSBO properties were not placed on the open market. Factoring out private sales between parties who knew each other in advance such as family or acquaintances, the actual number of homes sold on the open market without professional assistance was a record low 5 percent – the rest were unrepresented sellers in private transactions. The market share of open-market FSBOs is half of what it was six years ago – 10 percent were sold on the open market in 2004.

  The median home price for sellers who used an agent was $199,300 vs. $140,000 for a home sold directly by an owner, but there were important differences. The median income of unassisted sellers was $64,000, in contrast with $93,200 for agent-assisted sellers. Unassisted sellers were much more likely to be selling a somewhat smaller home, and they were more likely to be in a rural area. Combined, these factors suggest a lower value for FSBO properties.

  The most difficult tasks reported by unrepresented sellers are getting the right price, preparing and fixing the home for sale, understanding and performing paperwork, and selling within the planned length of time.

  NAR mailed an eight-page questionnaire in July 2010 to a national sample of 111,004 home buyers and sellers who purchased their homes between July 2009 and June 2010, according to county records. It generated 8,449 usable responses; the adjusted response rate was 7.9 percent. All information is characteristic of the 12-month period ending in June 2010 with the exception of income data, which are for 2009. Because of rounding and omissions for space, percentage distributions for some findings may not add up to 100 percent.

  The 2010 National Association of Realtors® Profile of Home Buyers and Sellers can be ordered by calling 800-874-6500, or online at www.realtor.org/prodser.nsf/Research. The study is free for NAR members though the end of 2010 but costs $125 for non-members.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• 16:19

  Housing Recovery Expected

   » ‎ Bend Oregon Real Estate Blog

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  Slow, Steady Housing Recovery Expected Ahead

  New Orleans, November 05, 2010

  A slow, steady recovery is predicted for the housing market despite ongoing challenges, according to a residential market update today at the 2010 REALTORS® Conference & Expo.

  Lawrence Yun, National Association of Realtors® chief economist, expects continuing improvement of underlying fundamentals of the current market in coming years.

  “A slow recovery is taking place as we head toward our goal of a stable, solid housing market. However, the pace of job growth will determine the strength of the housing market recovery,” said Yun.

  Yun was joined onstage by Dr. Thomas Hoenig, president of the Kansas City Federal Reserve Bank, who said that broad economic policies in the 1990s encouraged wide credit expansion and ultimately led to home owners overleveraging themselves to achieve home ownership. Koenig said that re-establishing sensible, solid underwriting standards and down payment requirements would help stabilize the market.

  “I am confident that the nation’s housing market will get stronger – what we need is a more stable market in the future with healthy cycles, and not booms and busts,” said Koenig.

  Yun said that while consumer confidence remains low, home buyers are responding to historically low mortgage interest rates and favorable affordability conditions. NAR’s existing-home sales, which are completed transactions that include single-family, townhomes, condominiums and co-ops, rose the past two months, most recently up 10 percent in September, following a sharp correction after the home buyer tax credit expired.

  While mortgage rates are currently hovering below 4.5 percent, Yun projects rates will continue to rise throughout the next two years – up to 5 percent in 2011 to nearly 6 percent in 2012.

  “Mortgage rates have probably hit bottom. Higher rates in the next couple of years could impact and potentially reduce the number of potential buyers entering the housing market, so well-qualified buyers that are currently in the market for a home shouldn’t wait for rates to go any lower.”

  According to Yun, the national median home price has stabilized over the past 18 months. A recent NAR survey showed that Realtors® are nearly equally divided about whether home prices in their area will rise or fall during the next year, Yun said, and he predicted that overall prices will remain stable, without any meaningful increase for at least another two years.

  During the forum, Yun also stressed the importance of long-standing policies that promote home ownership, namely the mortgage interest deduction. “If the tax benefit were eliminated, it could reduce home values by an additional 15 percent and cause severe wealth destruction,” he said.

  “Americans need public policies that promote responsible, sustainable homeownership as we head toward a full recovery in the housing market,” said Yun.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  

  Jim Johnson, Principal Broker, Bend Oregon Real Estate Expert

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

   
• 16:11

  Home Sales Slip

   » ‎ Bend Oregon Real Estate Blog

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  Pending Home Sales Slip but Modest Recovery Expected in 2011

  New Orleans, November 05, 2010

  Pending home sales retreated after two monthly gains, signaling an uneven recovery entering 2011 with some near-term disruptions from the foreclosure moratorium, according to the National Association of Realtors®. The report was released here at the 2010 Realtors® Conference & Expo.

  The Pending Home Sales Index,* a forward-looking indicator, slipped 1.8 percent to 80.9 based on contracts signed in September from an upwardly revised 82.4 in August. However, the index remains 24.9 percent below a surge to 107.8 in September 2009 when first-time buyers were jumping into the market to take advantage of the initial deadline for the tax credit last November. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

  Lawrence Yun, NAR chief economist, said there is a mix of factors in the housing market. “Existing-home sales have shown some improvement but the foreclosure moratorium is likely to cause some disruption and contribute to an uneven sales performance in the months ahead,” he said. “Nonetheless, there appears to be a pent-up demand that eventually will be unleashed as banks resolve their issues with foreclosures and the labor market improves. However, tight credit and appraisals coming in below a negotiated price continue to constrain the market.”

  The PHSI in the Northeast slipped 1.7 percent to 59.6 in September and is 28.3 percent below a year ago. In the Midwest the index fell 5.7 percent in September to 64.2 and remains 33.0 percent below September 2009. Pending home sales in the South declined 3.5 percent to an index of 87.6 and are 19.1 percent below a year ago. In the West the index rose 3.5 percent to 104.6 but is 24.7 percent below September 2009.

  In examining the underlying fundamentals, Yun expects the Gross Domestic Product to grow 2.0 to 2.5 percent over the next two years. With a projection of 1.5 million additional jobs over the next two years, the unemployment rate should decline to 8 percent by 2013 and return to a normal level of around 6 percent in 2015.

  “Mortgage interest rates currently are bouncing along the bottom, but are expected to gradually rise and average 4.9 percent next year, then rise to 5.8 percent in 2012,” Yun said.

  Existing-home sales are forecast to gradually rise, with some occasional dips along the way. “For 2011 we should see more than 5.1 million existing-home sales, up from about 4.8 million this year. Housing starts are expected to rise to 716,000 in 2011 from 598,000 this year,” Yun said. “We’ve added 30 million people to the U.S. population over the past 10 years, but sales are where they were in 2000, so there appears to be a sizable pent-up demand that could come to the market once the economy gathers momentum.”

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• October 25, 2010
• 8:21

  Existing Homes Sales Show Strong Gain

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  September Existing-Home Sales Show Another Strong Gain

  Home Sales on the Rise

  Washington, October 25, 2010

  Existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of Realtors®.

  Existing-home sales¹, which are completed transactions that include single-family, townhomes, condominiums and co-ops, jumped 10.0 percent to a seasonally adjusted annual rate of 4.53 million in September from a downwardly revised 4.12 million in August, but remain 19.1 percent below the 5.60 million-unit pace in September 2009 when first-time buyers were ramping up in advance of the initial deadline for the tax credit last November.

  Lawrence Yun, NAR chief economist, said the housing market is in the early stages of recovery. “A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium. But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions,” he said.

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.35 percent in September from 4.43 percent in August; the rate was 5.06 percent in September 2009.

  The national median existing-home price² for all housing types was $171,700 in September, which is 2.4 percent below a year ago. Distressed homes³ accounted for 35 percent of sales in September compared with 34 percent in August; they were 29 percent in September 2009.

  NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said opportunities abound in the current market. “A decade ago, mortgage rates were almost double what they are today, and they’re about one-and-a-half percentage points lower than the peak of the housing boom in 2005,” she said. “In addition, home prices are running about 22 percent less than five years ago when they were bid up by the biggest housing rush on record.”

  To illustrate the jump in housing affordability, the median monthly mortgage payment for a recently purchased home is several hundred dollars less than it was five years ago. “In fact, the median monthly mortgage payment in many areas is less than people are paying for rent,” Golder said.

  Housing affordability conditions today are 60 percentage points higher than during the housing boom, so it has become a very strong buyers’ market, especially for families with long-term plans. “The savings today’s buyers are receiving are not a one-time benefit. Buyers with fixed-rate mortgages will save money every year they are living in their home – this is truly an example of how home ownership builds wealth over the long term,” Golder added.

  Total housing inventory at the end of September fell 1.9 percent to 4.04 million existing homes available for sale, which represents a 10.7-month supply⁴ at the current sales pace, down from a 12.0-month supply in August. Raw unsold inventory is 11.7 percent below the record of 4.58 million in July 2008.

  “Vacant homes and homes where mortgages have not been paid for an extended number of months need to be cleared from the market as quickly as possible, with a new set of buyers helping the recovery along a healthy path,” Yun said. “Inventory remains elevated and continues to favor buyers over sellers. A normal seasonal decline in inventory is expected through the upcoming months.”

  A parallel NAR practitioner survey shows first-time buyers purchased 32 percent of homes in September, almost unchanged from 31 percent in August. Investors were at an 18 percent market share in September, down from 21 percent in August; the balance of purchases were by repeat buyers. All-cash sales were at 29 percent in September compared with 28 percent in August.

  Single-family home sales increased 10.0 percent to a seasonally adjusted annual rate of 3.97 million in September from a pace of 3.61 million in August, but are 19.5 percent below the 4.93 million level in September 2009. The median existing single-family home price was $172,600 in September, down 1.9 percent from a year ago.

  Existing condominium and co-op sales rose 9.8 percent to a seasonally adjusted annual rate of 560,000 in September from 510,000 in August, but are 16.2 percent lower than the 668,000-unit level one year ago. The median existing condo price⁵ was $165,400 in September, down 6.2 percent from September 2009.

  Regionally, existing-home sales in the Northeast increased 10.1 percent to an annual pace of 760,000 in September but are 20.8 percent below September 2009. The median price in the Northeast was $239,200, which is 1.4 percent below a year ago.

  Existing-home sales in the Midwest jumped 14.5 percent in September to a level of 950,000 but are 26.4 percent below a year ago. The median price in the Midwest was $139,700, down 5.2 percent from September 2009.

  In the South, existing-home sales rose 10.6 percent to an annual pace of 1.77 million in September but are 14.9 percent lower than September 2009. The median price in the South was $149,500, down 2.6 percent from a year ago.

  Existing-home sales in the West increased 5.0 percent to an annual level of 1.05 million in September but are 16.7 percent below a year ago. The median price in the West was $213,600, which is 4.9 percent lower than September 2009.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  NOTE: NAR also tracks monthly comparisons of existing single-family home sales and median prices for 20 select metropolitan statistical areas, which is posted with other tables at: www.realtor.org/research/research/ehsdata. For information on areas not included in the report, please contact the local association of Realtors®.

  ¹Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings. This differs from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which generally account for 85 to 90 percent of total home sales, are based on a much larger sample – more than 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.

  The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

  Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

  ²The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if more data is received than was originally reported.

  ³Distressed sales, first-time buyer and investor data are from a survey for the Realtors® Confidence Index, scheduled to be posted November 5.

  ⁴Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, condos were measured quarterly while single-family sales accounted for more than 90 percent of transactions).

  ⁵Because there is a concentration of condos in high-cost metro areas, the national median condo price generally is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes.

  Existing-home sales for October will be released at 10 a.m. EST November 23. The next Pending Home Sales Index is scheduled for November 5; released at 12:30 p.m. EDT from NAR’s 2010 Conference & Expo in New Orleans; a news conference there begins at noon EDT, which also will cover the 2011 housing and economic forecast.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• October 04, 2010
• 7:55

  Home Sales Increasing

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Pending Home Sales Show Another Gain

  Washington, October 04, 2010

  Pending home sales have increased for the second consecutive month, according to the National Association of Realtors®.

  The Pending Home Sales Index,* a forward-looking indicator, rose 4.3 percent to 82.3 based on contracts signed in August from a downwardly revised 78.9 in July, but is 20.1 percent below August 2009 when it was 103.0. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

  Lawrence Yun, NAR chief economist, said the latest data is consistent with a gradual improvement in home sales in upcoming months. “Attractive affordability conditions from very low mortgage interest rates appear to be bringing buyers back to the market,” he said. “However, the pace of a home sales recovery still depends more on job creation and an accompanying rise in consumer confidence.”

  Although Yun expects a continuing steady rise in home sales from favorable affordability conditions and some job creation, he cautioned any sudden rise in mortgage rates could slow the recovery. “Current low consumer price inflation has helped keep mortgage interest rates very attractive this year. However, recent rising trends in producer prices at the intermediate and early stages of production, along with very high commodity prices, are raising concerns about future inflation and future mortgage interest rates,” he said. “Higher inflation would mean higher mortgage interest rates. In the meantime, housing affordability is hovering near record highs.”

  The PHSI in the Northeast declined 2.9 percent to 60.6 in August and remains 28.8 percent below August 2009. In the Midwest the index rose 2.1 percent in August to 68.0 but is 26.5 percent below a year ago. Pending home sales in the South increased 6.7 percent to an index of 90.8 but are 13.1 percent below August 2009. In the West the index rose 6.4 percent to 101.1 but remains 19.6 percent below a year ago.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  NOTE: The next Pending Home Sales Index will be released November 5 at 12:30 p.m. EDT from NAR’s 2010 Conference & Expo in New Orleans; a news conference there begins at noon EDT, which also will cover the 2011 housing and economic forecast. Existing-home sales for September will be reported October 25.

  NAR’s statistical news release schedule for 2011 is being distributed October 5. Dates for existing-home sales and the pending home sales index are being moved up, and there will be an additional release this year for pending home sales on December 30, 2010.

  Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section. Statistical data, tables and surveys also may be found by clicking on Research.

• September 23, 2010
• 7:38

  The Recession Is Over – Home Sales Up Again

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Existing-Home Sales Move Up in August

  Washington, September 23, 2010

  Existing-home sales rose in August following a big correction in July, according to the National Association of Realtors®.

  Existing-home sales¹, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 4.13 million in August from an upwardly revised 3.84 million in July, but remain 19.0 percent below the 5.10 million-unit pace in August 2009.

  Lawrence Yun, NAR chief economist, said home sales still remain sub-par. “The housing market is trying to recover on its own power without the home buyer tax credit. Despite very attractive affordability conditions, a housing market recovery will likely be slow and gradual because of lingering economic uncertainty,” Yun said.

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.43 percent in August from 4.56 percent in July; the rate was 5.19 percent in August 2009.

  Yun added, “Home values have shown stabilizing trends over the past year, even as the economy shed millions of jobs, because of the home buyer tax credit stimulus. Now that the economy is adding some jobs, the housing market needs to steadily improve and eventually stand on its own.”

  The national median existing-home price² for all housing types was $178,600 in August, up 0.8 percent from a year ago. Distressed homes³ rose to 34 percent of sales in August from 32 percent in July; they were 31 percent in August 2009.

  NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said consumers have been getting mixed signals about the housing market. “People understand the good affordability conditions with stable home prices in most areas, but they’re concerned about the economy and speculation on Wall Street,” she said. “We need to stick with the facts about the long-term value of home ownership and avoid unrealistic assessments. Tight credit and slow short sales are ongoing problems – expediting short sales will help the market to recover more quickly.”

  Total housing inventory at the end of August slipped 0.6 percent to 3.98 million existing homes available for sale, which represents an 11.6-month supply⁴ at the current sales pace, down from a 12.5-month supply in July.

  A parallel NAR practitioner survey shows first-time buyers purchased 31 percent of homes in August, down from 38 percent in July. Investors rose to a 21 percent market share in August from 19 percent in July; the balance of purchases were by repeat buyers. All-cash sales slipped to 28 percent in August from 30 percent in July.

  Single-family home sales rose 7.4 percent to a seasonally adjusted annual rate of 3.62 million in August from a level of 3.37 million in July, but are 19.2 percent lower than the 4.48 million level in August 2009. The median existing single-family home price was $179,300 in August, up 1.2 percent from a year ago.

  Single-family median existing-home prices were higher in 10 out of 19 metropolitan statistical areas reported in August from a year ago (the price in one of 20 tracked markets was not available). Existing single-family home sales were down in all 20 metro areas from August 2009.

  Existing condominium and co-op sales increased 8.5 percent to a seasonally adjusted annual rate of 510,000 in August from 470,000 in July, but are 17.1 percent below the 615,000-unit pace in August 2009. The median existing condo price⁵ was $174,000 in August, which is 2.8 percent below a year ago.

  Regionally, existing-home sales in the Northeast rose 7.9 percent to an annual level of 680,000 in August but are 24.4 percent below August 2009. The median price in the Northeast was $260,300, up 7.6 percent from a year ago.

  Existing-home sales in the Midwest increased 5.0 percent in August to a pace of 840,000 but are 26.3 percent below a year ago. The median price in the Midwest was $149,600, up 0.4 percent from August 2009.

  In the South, existing-home sales rose 5.2 percent to an annual level of 1.62 million in August but are 13.4 percent below August 2009. The median price in the South was $155,000, down 1.5 percent from a year ago.

  Existing-home sales in the West jumped 13.8 percent to an annual pace of 990,000 in August but are 16.1 percent lower than August 2009. The median price in the West was $214,700, which is 2.5 percent below a year ago.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  NOTE: NAR also tracks monthly comparisons of existing single-family home sales and median prices for 20 select metropolitan statistical areas, which is posted with other tables at: www.realtor.org/research/research/ehsdata. For information on areas not included in the report, please contact the local association of Realtors®.

  ¹Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings. This differs from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which generally account for 85 to 90 percent of total home sales, are based on a much larger sample – more than 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.

  The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

  Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

  ²The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if more data is received than was originally reported.

  ³Distressed sales, first-time buyer and investor data are from a survey for the Realtors® Confidence Index, scheduled to be posted October 4.

  ⁴Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, condos were measured quarterly while single-family sales accounted for more than 90 percent of transactions).

  ⁵Because there is a concentration of condos in high-cost metro areas, the national median condo price generally is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes.

  Existing-home sales for September will be released October 25. The next Pending Home Sales Index is scheduled for October 4; release times are 10 a.m. EDT.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• September 21, 2010
• 10:04

  Bend Oregon Vacation Rentals

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Bend Oregon Vacation Rentals

  Bend Oregon vacation rentals are becoming a great investment.  You can buy a house, condo or townhouse and stay in it when you want.  Some of the larger units rent for over $400 a night.  This can certainly soften the cash flow requirements of owning a second home in Bend Oregon.

  There are a few good management companies who will take care of all the rental details and cleaning and send you your check every month.  All you have to do is reserve the time you want to use your house, condo or townhouse.

  When buying a vacation rental make sure the CC&Rs allow for short term rentals.  Some neighborhoods don’t allow rentals for less than 30 days.  I just sold a townhouse on the Bluffs at the Old Mill that would have made a great vacation rental.

  

  View from a townhouse on The Bluffs at the Old Mill

  One of the top vacation rental managers in Bend told me the best units are on Bend’s west side.
  Special properties are best.  Close to town, Old Mill, golf courses, river and mountain views make for good vacation rentals in Bend.

  

  Great skiing on Mt. Bachelor, Bend Oregon

  If you’re thinking about buying a vacation rental in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bend Oregon Vacation Rentals or you can use our FREE MLS search.

• August 30, 2010
• 15:30

  Commericial Real Estate Fall 2010

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Commercial Real Estate Remains Soft but Favors Business Expansion

  Washington, August 26, 2010

  Commercial real estate sectors, hurt by weak job growth, are offering incentives in many areas that are conducive to business expansion, according to the National Association of Realtors®.

  Lawrence Yun, NAR chief economist, said fallout from the recession continues to impact commercial real estate.  “Vacancy rates are beginning to level off in some sectors, but rent discounts and moderate levels of landlord concessions are widespread,” he said.  “This is very much a tenant’s market, which is quite favorable for businesses that are considering expansion.  It’s also encouraging that there is a modest improvement in the sentiment of commercial real estate practitioners.”

  The Society of Industrial and Office Realtors®, in its SIOR Commercial Real Estate Index, an attitudinal survey of more than 600 local market experts,¹ shows vacancy rates are beginning to level, but rents remain depressed, and subleasing space is high.

  The SIOR index, measuring 10 variables, rose 2.8 percentage points to 41.0 in the second quarter, but remains well below a level of 100 that represents a balanced marketplace.  This is the third consecutive quarterly improvement after nearly three years of decline; the last time the commercial market was in equilibrium at the 100 level was in the third quarter of 2007.

  Fifty-seven percent of respondents expect improvements in the office and industrial sectors in the third quarter.

  Commercial real estate development remains stagnant in all regions with low investment activity; 88 percent of respondents said it is virtually nonexistent in their markets, but development acquisitions are beginning to grow in many areas in what is described as a buyer’s market.

  Looking at the overall market, vacancy rates will shift modestly in the coming year according to NAR’s latest COMMERCIAL REAL ESTATE OUTLOOK.²  The NAR forecast for four major commercial sectors analyzes quarterly data in the office, industrial, retail and multifamily markets.  Historic data were provided by CBRE Econometric Advisors.

  Office Markets

  Vacancy rates in the office sector, with high levels of available sublease space, are expected to increase from 16.7 percent in the second quarter of this year to 17.0 percent in the second quarter of 2011, and then ease later next year.

  The markets with the lowest office vacancy rates in the second quarter were New York City, Honolulu and Long Island, N.Y., with vacancies around the 9 to 11 percent range.

  Annual office rent should fall 2.7 percent this year and decline another 2.1 percent in 2011.  In 57 markets tracked, net absorption of office space, which includes the leasing of new space coming on the market as well as space in existing properties, is projected to be a negative 13.6 million square feet this year and then a positive 22.6 million in 2011.

  Industrial Markets 

  Industrial vacancy rates are likely to decline from 14.1 percent in the second quarter of 2010 to 13.7 percent in the second quarter of 2011, and then continue to ease modestly as the year progresses.

  The areas with the lowest industrial vacancy rates in the second quarter were Los Angeles, San Francisco and Kansas City, with vacancies ranging between 8 and 11 percent.

  Annual industrial rent is estimated to drop 5.4 percent this year, and to decline another 4.7 percent in 2011.  Net absorption of industrial space in 58 markets tracked is seen at a negative 31.7 million square feet this year and a positive 157.2 million in 2011.

  Retail Markets

  Retail vacancy rates should hold steady at 13.1 percent in both the second quarter of this year and in the second quarter of 2011, with a level pattern for most of next year.

  Markets with the lowest retail vacancy rates in the second quarter include San Francisco, Honolulu and Miami, with vacancies of 7 to 8 percent.

  Average retail rent is expected to decline 2.6 percent in 2010 and then flatten out, slipping 0.1 percent next year.  Net absorption of retail space in 53 tracked markets is forecast to be a negative 2.3 million square feet this year and then a positive 6.4 million in 2011.

  Multifamily Markets

  The apartment rental market – multifamily housing – is benefiting from modestly higher demand.  Multifamily vacancy rates are likely to decline from 6.0 percent in the second quarter of this year to 5.6 percent in the second quarter of 2011.

  Areas with the lowest multifamily vacancy rates in the second quarter include San Jose, Calif.; Pittsburgh; and Philadelphia, with vacancies of less than 4 percent.

  With additions from new construction, average rent should slip 0.6 percent in 2010, and then hold even in 2011.  Multifamily net absorption is expected to be 105,200 units in 59 tracked metro areas this year, and another 138,000 in 2011.

  The COMMERCIAL REAL ESTATE OUTLOOK is published by the NAR Research Division for the commercial community.  NAR’s Commercial Division, formed in 1990, provides targeted products and services to meet the needs of the commercial market and constituency within NAR.

  The NAR commercial components include commercial members; commercial committees, subcommittees and forums; commercial real estate boards and structures; and the NAR commercial affiliate organizations – CCIM Institute, Institute of Real Estate Management, Realtors^® Land Institute, Society of Industrial and Office Realtors^®, and Counselors of Real Estate.

  Approximately 79,000 NAR and institute affiliate members specialize in commercial brokerage services, and an additional 263,000 members offer commercial real estate as a secondary business.

  The National Association of Realtors^®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  ¹ The SIOR Commercial Real Estate Index, conducted by SIOR and analyzed by NAR Research, is a diffusion index based on market conditions as viewed by local SIOR experts.  For more information contact Richard Hollander, SIOR, at 202/449-8200.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

   

  

  Bend Oregon Commercial Real Estate

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• August 28, 2010
• 9:01

  Bend Oregon Real Estate – 2010

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Buyers are lining up to buy real estate in Bend Oregon.  I’m currently working with 192 prospective buyers who are receiving new listings in Bend that fit their needs.  Our New Listing Notification service is very popular! LINK 

  One of the reasons buyers are starting to act is our great prices.  Bend had the largest year-to-year drop in housing prices among U.S. metro areas for the second consecutive quarter, according to data released Wednesday by the Federal Housing Finance Agency.

  Between the second quarter of 2009 and the same period this year, housing prices depreciated 18.59 percent in the Bend Metropolitan Statistical Area, which includes all of Deschutes County. That was the worst of all 303 MSAs the agency measured nationally.  This is good news for buyers.  It won’t be long before Bend is seeing the highest appreciation in the nation as it did a few years ago.

  Housing prices in Bend today are a far cry from where they were during the housing boom. Bend had the highest appreciation rate in the U.S. in 2006, topping out at about 36 percent on a year-to-year basis in the second quarter.

  On a quarterly basis this year, prices dropped 2.16 percent during the second quarter of 2010 that ended June 30 from the first quarter. During the first quarter, prices dropped 4 percent from the fourth quarter of 2009.

  Oregon had the 16th highest depreciation, dropping 3.51 percent from the second quarter of 2009 to the second quarter this year. Prices rose from the first quarter, however, up 0.46 percent.  Homes for sale in Bend today are about 50% of what they were 3 years ago!

  

  Great buys on bank foreclosures!

  Another reason people are buying homes in Bend is a great choice of Bank Foreclosures.  Bank foreclosures in Bend are selling like hot cakes when they are priced right.  There was a bank owned home that came on the market in Broken Top which is one of our nicest golf course communities.

  It had 7 offers on it the first two days on the market and sold for $25,000 over the list price!  One foreclosure had 13 offers on it the first week on the market.  Of course not all homes are selling with multiple offers.  I would estimate 80-90% of the homes currently for sale are listed over current market value.

  An increasingly popular item is second homes that can be used as vacation rentals.  These tend to be smaller homes or Condos near the Old Mill District.

  Another popular type of property is Riverfront Homes. The Deschutes River runs through Bend but there are not that many riverfront homes for sale.  You will pay a premium price to live on the river in Bend Oregon.

  Another reason people are buying now is the interest rates.  The best 30 year fixed -conventional, FHA and VA-  mortgage rate remain in the 4.25% to 4.50% range with several lenders offering 4.125%.  15 year fixed rate loans also remain in the 3.75% to 4.00% range.  

  It’s impossible to time the market.  But I really believe now is the time to buy.  Prices and interest rates for Bend Oregon real estate may never be better for many years to come.  Bend is a great place to live, retire, raise kids and enjoy outdoor activities year round.  We are seeing multiple offers on some listings indicating the bottom to the Bend real estate market.

  

  Now is the time to buy Bend Oregon Real Estate

  Golf course property is also very popular.  Bend is surrounded by golf courses.  There are some really good buys available on our local golf course homes.

  Another popular are in Bend is Awbrey Butte.  Awbrey Butte homes make up one of the nicest neighborhoods in Bend.  They are on large lots of .5 acre to over one acre and there are no fences allowed so it does not feel like a subdivision.

  

  Great prices on Awbrey Butte homes!

  No matter how you look at it now is the time to buy real estate in Bend.  Prices are interest rate will likely start back up next year and there will be thousands of people wishing they had bought a home in Bend in 2010.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  

  Matt and Jim Johnson, Father and Son Team

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• August 25, 2010
• 18:50

  Home Prices Rising

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  July Existing-Home Sales Fall as Expected but Prices Rise

  Washington, August 24, 2010

  Existing-home sales were sharply lower in July following expiration of the home buyer tax credit but home prices continued to gain, according to the National Association of Realtors®.

  Existing-home sales¹, which are completed transactions that include single-family, townhomes, condominiums and co-ops, dropped 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July from a downwardly revised 5.26 million in June, and are 25.5 percent below the 5.14 million-unit level in July 2009.

  Sales are at the lowest level since the total existing-home sales series launched in 1999, and single family sales – accounting for the bulk of transactions – are at the lowest level since May of 1995.

  Lawrence Yun, NAR chief economist, said a soft sales pace likely will continue for a few additional months. “Consumers rationally jumped into the market before the deadline for the home buyer tax credit expired. Since May, after the deadline, contract signings have been notably lower and a pause period for home sales is likely to last through September,” he said. “However, given the rock-bottom mortgage interest rates and historically high housing affordability conditions, the pace of a sales recovery could pick up quickly, provided the economy consistently adds jobs.

  “Even with sales pausing for a few months, annual sales are expected to reach 5 million in 2010 because of healthy activity in the first half of the year. To place in perspective, annual sales averaged 4.9 million in the past 20 years, and 4.4 million over the past 30 years,” Yun said.

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.56 percent in July from 4.74 percent in June; the rate was 5.22 percent in July 2009. Last week, Freddie Mac reported the 30-year fixed was down to 4.42 percent.

  The national median existing-home price² for all housing types was $182,600 in July, up 0.7 percent from a year ago. Distressed home sales are unchanged from June, accounting for 32 percent of transactions in July; they were 31 percent in July 2009.³

  “Thanks to the home buyer tax credit, home values have been stable for the past 18 months despite heavy job losses,” Yun said. “Over the short term, high supply in relation to demand clearly favors buyers. However, given that home values are back in line relative to income, and from very low new-home construction, there is not likely to be any measurable change in home prices going forward.”

  Total housing inventory at the end of July increased 2.5 percent to 3.98 million existing homes available for sale, which represents a 12.5-month supply⁴ at the current sales pace, up from an 8.9-month supply in June. Raw unsold inventory is still 12.9 percent below the record of 4.58 million in July 2008.

  NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said there are great opportunities now for buyers who weren’t’t able to take advantage of the tax credit. “Mortgage interest rates are at record lows, home prices have firmed and there is good selection of property in most areas, so buyers with good jobs and favorable credit ratings find themselves in a fortunate position,” she said.

  A parallel NAR practitioner survey shows first-time buyers purchased 38 percent of homes in July, down from 43 percent in June. Investors accounted for 19 percent of sales in July, up from 13 percent in June; the balance were to repeat buyers. All-cash sales rose to 30 percent in July from 24 percent in June.

  Single-family home sales dropped 27.1 percent to a seasonally adjusted annual rate of 3.37 million in July from a pace of 4.62 million in June, and are 25.6 percent below the 4.53 million level in July 2009; they were the lowest since May 1995 when the sales rate was 3.34 million. The median existing single-family home price was $183,400 in July, which is 0.9 percent above a year ago.

  Single-family median existing-home prices were higher in 11 out of 19 metropolitan statistical areas reported in July in comparison with July 2009 (the price in one of 20 tracked markets was not available). However, existing single-family home sales fell in all 20 areas from a year ago.

  Existing condominium and co-op sales fell 28.1 percent to a seasonally adjusted annual rate of 460,000 in July from 640,000 in June, and are 24.0 percent below the 605,000-unit level in July 2009. The median existing condo price⁵ was $176,800 in July, down 1.7 percent from a year ago.

  Regionally, existing-home sales in the Northeast dropped 29.5 percent to an annual pace of 620,000 in July and are 30.3 percent lower than a year ago. The median price in the Northeast was $263,800, up 4.8 percent from July 2009.

  Existing-home sales in the Midwest fell 35.0 percent in July to a level of 800,000 and are 33.3 percent below July 2009. The median price in the Midwest was $151,600, down 2.8 percent from a year ago.

  In the South, existing-home sales dropped 22.6 percent to an annual pace of 1.54 million in July and are 19.8 percent below a year ago. The median price in the South was $156,300, down 3.3 percent from July 2009.

  Existing-home sales in the West fell 25.0 percent to an annual level of 870,000 in July and are 23.0 percent below a year ago. The median price in the West was $224,800, up 3.3 percent from July 2009.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  NOTE: NAR also tracks monthly comparisons of existing single-family home sales and median prices for 20 select metropolitan statistical areas, which is posted with other tables at: www.realtor.org/research/research/ehsdata. For information on areas not included in the report, please contact the local association of Realtors®.

  ¹Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings. This differs from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which generally account for 85 to 90 percent of total home sales, are based on a much larger sample – more than 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.

  The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

  Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

  ²The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if more data is received than was originally reported.

  ³Distressed sales, first-time buyer and investor data are from a survey for the Realtors® Confidence Index, scheduled to be posted September 2.

  ⁴Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, condos were measured quarterly while single-family sales accounted for more than 90 percent of transactions).

  ⁵Because there is a concentration of condos in high-cost metro areas, the national median condo price generally is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes.

  Existing-home sales for August will be released September 23. The next Pending Home Sales Index is scheduled for September 2; release times are 10 a.m. EDT.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• August 11, 2010
• 8:01

  Bend Real Estate Market Looking Up

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  The Bend Oregon real estate market lags behind the national real estate market.  The were many bank foreclosures in Phoenix, Las Vegas and Southern California before the foreclosures started in Bend.

  Now it looks like the market is starting to pick up nationally.  This means our market will probably follow close behind.  The National Association of Realtors just released the following article.

  Broad Stabilization in Second Quarter Metro Area Home Prices with Strong Sales

  Washington, August 11, 2010

  The trend in firming home prices solidified in the second quarter with more metropolitan areas showing increases from a year ago, aided by a surge in home sales driven by the home buyer tax credit, according to the latest survey by the National Association of Realtors®.

  In the second quarter, 100 out of 155 metropolitan statistical areas¹ (MSAs) had higher median existing single-family home prices in comparison with the second quarter of 2009, including 14 with double-digit increases; two were unchanged and 53 metros showed price declines. In the first quarter of this year 91 areas had higher prices, while only 26 MSAs experienced annual price gains in second quarter of 2009.

  The national median existing single-family price was $176,900 in the second quarter, up 1.5 percent from $174,200 in the same period of 2009. The median is where half sold for more and half sold for less. Distressed homes accounted for 32 percent of second quarter sales, down from 36 percent a year ago.

  Lawrence Yun, NAR chief economist, said the correction in home prices appears to have ended in 2009. “All year we’ve been seeing relatively flat national home prices, which appear to be supported by market fundamentals,” he said. “Prices in some areas remain below replacement construction costs, so even with an elevated supply of existing homes on the market we don’t expect any consequential movement in home prices for the foreseeable future. Very low inventory of newly built homes also will help to support home values.”

  Yun urged caution on interpreting price data. “The median price is influenced by the mix of homes that were sold and do not reflect pure appreciation or depreciation,” he said. “The recorded home prices in many markets were significantly depressed last year because of a large percentage of distressed homes sold at discount. Now as more normal, non-distressed home sales are occurring, the median price in many areas is showing higher values.”

  Total state existing-home sales, including single-family and condo, rose 9.1 percent to a seasonally adjusted annual rate² of 5.61 million in the second quarter from 5.14 million in the first quarter, and were 17.3 percent above the 4.78 million-unit pace in the second quarter of 2009.

  Sales increased from the first quarter in 44 states and the District of Columbia; 47 states and D.C. had increases over year-ago sales levels.

  NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said record low mortgage interest rates will help cushion a summer slowdown. “As expected, sales are slowing down now that the home buyer tax credit has expired, but record-low mortgage interest rates, along with stable and affordable home prices in most areas, provide opportunities for buyers who weren’t able to take advantage of the credit,” she said.

  According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage was a record low 4.91 percent in the second quarter, down from 5.00 percent in the first quarter; it was 5.03 percent in the second quarter of 2009.

  “Job creation will give home buyers more confidence, but the market over the next few months is likely to be below what we would expect for the size of our growing population,” Golder said. “With improving bank balance sheets, credit restrictions should gradually improve – Realtors® are a great resource for consumer information on loan availability as well as neighborhood market conditions, which vary widely.”

  In the condo sector, metro area condominium and cooperative prices – covering changes in 55 metro areas – showed the national median existing-condo price was relatively flat at $175,700 in the second quarter, down 0.5 percent from the second quarter of 2009. Twenty-six metros showed increases in the median condo price from a year ago and 29 areas had declines; the first quarter of 2010 showed 24 metros up, while only four metros saw annual price gains in second quarter of 2009.

  Regionally, the median existing single-family home price in the Northeast declined 3.2 percent to $238,000 in the second quarter from a year earlier. Existing-home sales in the Northeast jumped 14.9 percent in the second quarter to a level of 980,000 and are 23.6 percent above the second quarter of 2009.

  In the Midwest, the median existing single-family home price increased 1.4 percent to $148,500 in the second quarter from the second quarter of last year. Existing-home sales in the Midwest rose 14.5 percent in the second quarter to a pace of 1.30 million and are 20.9 percent above the same period in 2009.

  In the South, the median existing single-family home price slipped 2.0 percent to $155,500 in the second quarter from the second quarter of 2009. Existing-home sales in the South increased 10.9 percent in the second quarter to an annual rate of 2.10 million and are 18.8 percent above a year ago.

  The median existing single-family home price in the West rose 2.6 percent to $219,700 in the second quarter from a year ago. Existing-home sales in the West fell 2.6 percent in the second quarter to an annual rate of 1.23 million but are 7.6 percent higher than the second quarter of 2009.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  There often are differences between NAR’s data and locally reported data because of differences in methodology, which may include the geographic coverage area, housing types, and Census benchmarking used in NAR’s model. More importantly, there is a parallel between the percentage changes over time that is typically seen even when using different methodologies.

  ¹Areas are generally metropolitan statistical areas as defined by the U.S. Office of Management and Budget. A list of counties included in MSA definitions is available at: www.census.gov/population/estimates/metro-city/0312msa.txt.

  Regional median home prices include rural areas and samples of many smaller metros that are not included in this report; the regional percentage changes do not necessarily parallel changes in the larger metro areas. The only valid comparisons for median prices are with the same period a year earlier due to seasonality in buying patterns. Quarter-to-quarter comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns.
  NAR began tracking of metropolitan area median single-family home prices in 1979; the metro area condo price series dates back to 1989.

  Because there is a concentration of condos in high-cost metro areas, the national median condo price generally is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes. As the reporting sample expands in the future, additional areas will be included in the condo price report.

  ²The seasonally adjusted annual rate for a particular quarter represents what the total number of actual sales for a year would be if the relative sales pace for that quarter was maintained for four consecutive quarters. Total home sales include single family, townhomes, condominiums and co-operative housing. NAR began tracking the state sales series in 1981.

  Seasonally adjusted rates are used in reporting quarterly data to factor out seasonal variations in resale activity. For example, sales volume normally is higher in the summer and relatively light in winter, primarily because of differences in the weather and household buying patterns.

  Third quarter metro area home price and state resale data will be released November 11 at 10 a.m. EST.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  

  Now is the time to buy!

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• August 10, 2010
• 9:30

  Bend Oregon Real Estate Prices To Increase

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Bloomberg/Newsweek
  Oregon

  Biggest home price increase projected in 2014: Bend metro

  Forecast 4-year price increase: 33.6 percent
  Current median price: $144,533*
  Prices to reach trough in: 2011 Q1
  Median family income: $58,200
  Population: 158,630

  The area around Bend, in central Oregon which is surrounded by the high desert and the Cascade Mountains, has the second-highest four-year growth forecast, 33.6 percent, after Bremerton-Silverdale, Wash. Bend draws home buyers and visitors with its wealth of outdoor recreational opportunities, but its prices have dropped about 40 percent since hitting a peak in late 2006. They now expect a rapid recovery starting next year.

  

  Bend Oregon Home Sales

  The preceding news was followed today with an article in the local paper, The Bend Bulletin, stating that Default Notices (Future Foreclosures) as falling in Bend and Deschutes county.  All indications are now is the time to buy.  Mortgage rates are also at all time lows.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• August 08, 2010
• 8:21

  Bend – Redmond RV Repair

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  I would highly recommend Coach Masters of Bend LINK for all of your motorhome and 5th wheel repairs.  They are located on the North end of  Bend with easy access from Redmond.  As far as I’m concerned they are the best. 

  I would not recommend Beaver Coach in Bend.  They are more expensive and in my opinion are always looking for a way to increase your bill.  The last time (never again) I had my oil changed they didn’t even put air in my tires.  They said they didn’t know how much air I wanted.  They did call me to say I should have my brakes checked at over $100 an hour.

  I once had a fluid leak on my generator (front of RV).  I told the service rep.  I ended up paying them to look for a leak around the diesel pusher (back of RV).  He finally called me and said they couldn’t find the leak.  He didn’t even know where the generator was! 

  Call the guys at Coachmasters of Bend.  They are great!!

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• August 07, 2010
• 8:10

  Redmond Oregon FMCA International Convention 2010

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Below you will find the full schedule for FMCA’s 84th International Convention, which will be held at the Deschutes County Fair and Expo Center in Redmond, Oregon, August 11 to 14, 2010.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  For RV repair we highly recommend Coach Masters of Bend.  LINK

   

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

  Seminars: Redmond 2010 Learn more about motorhoming by attending the seminars at FMCA’s Redmond 2010 convention. Towing, engines, safe driving, battery maintenance, RV weight … these are just a sampling of the topics. Read on for the complete list with descriptions.

  SEMINAR ROOM LOCATIONS Seminar 1: Middle Sister Seminar 2: Middle Sister – Doris/Eileen Elk Seminar 3: Middle Sister – East Lake Seminar 4: South Sister Seminar 5: South Sister – Lava Seminar 6: High Desert Activity Center Seminar 7: Dairy/Goat/Llama  Seminar 8  Sheep Barn Seminar 9: Swine Barn Seminar 10: Swine Barn  Seminar 11: Swine Barn Seminar 12: Swine Barn

  Updated July 13, 2010 

  MONDAY, AUGUST 9, 2010

  7:30 p.m. 
  MOVIE NIGHT, SOUTH SISTER, SEMINAR 4

  TUESDAY, AUGUST 10, 2010

  8:00 a.m. to 5:00 p.m.
  FMCA INFORMATION CENTER OPEN IN NORTH SISTER

  Check the “Grounds Services” section of program for description and “Map Section” of program for location. The Information Center will be open 24 hours a day for emergencies.

  11:15 a.m. to 12:15 p.m.
  NATIONAL DIRECTOR BRIEFING, SEMINAR 4

  If you are presently a national director, alternate national director, temporary delegate, or if you would like to become a national director or alternate national director, this seminar covers the basics.  Join FMCA’s National VP Great Lakes Area Ross Boyer, F268985, who will discuss the basic knowledge national directors need to understand and deal with the issues of FMCA.  Specific issues will not be discussed.

  2:15 p.m. to 3:30 p.m.
  ORIENTATION FOR FIRST-TIME ATTENDEES, SEMINAR 6

  Jerry Yeatts, F390000, convention director of FMCA, will conduct a seminar to introduce first-time attendees to the fun, spirit, activities, and opportunities related to FMCA membership and attending rallies and conventions. Be sure to bring your convention program. This seminar will be repeated on Wednesday, August 11, from 8:15 a.m. to 9:30 a.m., in Seminar 2.

  3:45 p.m. to 4:45 p.m.
  SOUTHEAST AREA CAUCUS, SEMINAR 2

  3:45 p.m. to 4:45 p.m.
  EASTERN AREA CAUCUS, SEMINAR 3

  3:45 p.m. to 4:45 p.m.
  NORTHWEST AREA CAUCUS, SEMINAR 6

  3:45 p.m. to 4:45 p.m.
  NORTHEAST AREA CAUCUS, SEMINAR 8

  3:45 p.m. to 4:45 p.m.
  GREAT LAKES AREA CAUCUS, SEMINAR 9

  3:45 p.m. to 4:45 p.m.
  MIDWEST AREA CAUCUS, SEMINAR 12

  7:30 p.m. 
  DEBBIE REYNOLDS: A LIFETIME OF LAUGHTER AND LOVE, SEMINAR 6

  WEDNESDAY, AUGUST 11, 2010

  7:00 a.m. to 6:00 p.m.
  FMCA INFORMATION CENTER OPEN IN NORTH SISTER

  Check the “Grounds Services” section of program for description and “Map Section” of program for location. The Information Center will be open 24 hours a day for emergencies.

  8:15 a.m. to 9:30 a.m.
  ORIENTATION FOR FIRST-TIME ATTENDEES, SEMINAR 2

  Please see description in Tuesday’s 2:15 p.m. time slot.

  8:15 a.m. to 9:30 a.m.
  ALL ABOUT RVING, SEMINAR 3

  You don’t know what you don’t know, so this seminar introduces newbies and experienced RVers alike to new ideas, techniques, and products ranging from macerator pumps to silicone cookware. This is a must-see presentation for new RVers! Join Ron & Sandy Jones of RV Stuff, C10110, for a great seminar, wonderful pictures, real situations, and time for questions. You will learn to save money, be safe, and have fun!

  8:15 a.m. to 9:30 a.m.
  TOWING ROUNDTABLE, SEMINAR 6

  The goal of this seminar is to provide FMCA members with the information needed to tow a vehicle behind a motorhome safely and with peace of mind. More technical questions are directed to FMCA regarding towing than any other area of concern. If done properly, towing a vehicle behind a motorhome can be a positive experience. Tow bars, tow dollies, lube pumps, driveshaft disconnects, front-wheel drive, rear-wheel drive, four-wheel drive, towed car wiring, and covers for towed vehicles are a few of the topics that will be discussed. Panelists will include convention towing equipment exhibitors. Ample time will be allowed for questions from the audience. Supplemental braking will NOT be discussed at this seminar. There will be a seminar dedicated solely to “Supplemental Towed Car Braking” on Wednesday, 10:00 a.m. to 11:15 a.m., in Seminar 6.

  8:15 a.m. to 9:30 a.m.
  UNDERSTANDING, MONITORING, AND PROTECTING THE RV ELECTRICAL SYSTEM, SEMINAR 7

  Daryl Lawrence of Lawrence RV Accessories, Inc., C10135, will be on hand to inform and educate RV owners on ways to monitor and protect their RV electrical systems. Topics will include what causes power surges; surge protectors; high- and low-voltage problems; high- and low-voltage devices; pedestal wiring; and checking the power pedestal. Time will be allowed for a question-and-answer period.

  8:15 a.m. to 9:30 a.m.
  STEERING, SUSPENSIONS, COACH RIDE, & HANDLING, SEMINAR 8

  This seminar will help FMCA members understand some of the basics of coach steering, ride, and handling. The seminar will be moderated by Robert Henderson of Henderson’s Line-Up/SuperSteer®, C5009. After a brief PowerPoint presentation by Robert, discussions will be opened up to a panel of FMCA commercial member original equipment manufacturers (OEMs) and aftermarket products. The goal is to help members understand what they can do to improve the steering, handling, and suspension of their coach. This seminar will be repeated on Thursday from 11:30 a.m. to 2:30 p.m. in Seminar 8.

  9:00 a.m. to 5:00 p.m.
  GOVERNING BOARD MEETING, SEMINAR 4

  10:00 a.m.
  MICHELLE VAN HANDEL PERFORMS AT THE DAYTIME ENTERTAINMENT STAGE

  10:00 a.m. to 11:15 a.m.
  GETTING THE MOST OUT OF YOUR DIGITAL CAMERA, SEMINAR 2

  Join Phil May of TechnoRV, C11722, for this easy-to-understand explanation of features you may have noticed on your digital camera but were always afraid to use. Topics will include aperture, shutter speed, flash settings, and ISO. Understanding how these items are interrelated will help you use depth-of-field and other techniques to take more interesting photographs and help you understand what happens when using a camera’s preset modes. His presentation also will explain white balance settings and provide an overview of computer software and Web sites designed to help you edit, manage, and share your digital images.

  10:00 a.m. to 11:15 a.m.
  DRIVING A MOTORHOME FOR THE CO-PILOT, SEMINAR 3

  This seminar is geared for the occasional driver or the person who does not drive at all. Learn how to make your rig “Your Own.” This seminar covers the basics on seat adjustment, mirror setting, steering, simple reference points, and things to make the co-pilot more comfortable when he or she gets in the driver’s seat. Also covered is the perspective from the co-pilot’s seat to help make the ride more enjoyable. This seminar will be presented by Lorrin Walsh of Drive Smart Publications, C11835.

  10:00 a.m. to 11:15 a.m.
  SUPPLEMENTAL TOWED CAR BRAKING, SEMINAR 6

  No topic has captured the attention of motorhome owners in recent years as much as supplemental towed car braking. And no other topic has fueled the rumor mill as much as supplemental braking. Convention exhibitors will be on hand to discuss the technical aspects of supplemental braking. Information will be provided to bring FMCA convention attendees “up to speed” on the latest, most accurate information regarding the laws relating to supplemental braking of towed vehicles.

  10:00 a.m. to 11:15 a.m.
  INTERNET LOVE STORY, SEMINAR 7

  Learn how Jim and Chris Guld, aka GeeksOnTour.com, C11107, fell in love and followed their dream – all made possible by the Internet.

  Jim and Chris Guld have been living, and working, fulltime in their motorhome since 2003. They were 50 years old when they sold their home and cut all their ties in order to follow their dream of living on the road. No retirement and no income; yet they were convinced they could make a living on the road as long as they had the Internet. Their passion for helping fellow travelers get the most out of their computers has turned into an income-producing Web site, “Computer Education for Travelers” (www.GeeksOnTour.com). In this seminar, you’ll hear their story plus learn how they stay connected to the Internet as they travel the country.

  10:00 a.m. to 11:15 a.m.
  ENHANCE YOUR RV LIFESTYLE – DON’T GO WITHOUT VELCRO, SEMINAR 8

  Lloyd Smith of Coil ‘N Wrap, C9954, will share more than 80 ideas about how Velcro can save you time, space, and aggravation in all areas of your RV. Use the amazing High Temp Velcro to hang pictures and secure items to countertops. See many creative storage concepts inside as well as outside in your storage compartments. Watch demonstrations using Velcro to quickly and compactly coil up your water hoses, cords, and cables. Find out what to use to easily disconnect electrical cables from outlets and each other. You’ll love this seminar! There also will be a slide-show presentation.

  11:45 a.m. to 1:00 p.m.
  WATER FILTRATION, PURIFICATION, AND CONDITIONING, SEMINAR 2

  The ongoing mystery of pressure versus flow is discussed in this informative seminar. Too much pressure for the RV, but not enough for a good shower? How do regulators work and are they the solution? What about restrictive water filters and how much pressure can an RV handle? The dos and don’ts of dealing with water pressure in the RV, plus questions mentioned are discussed in detail during this seminar. Presented by Richard Dahl of RV Water Filter Store, C6843. Richard has more than 18 years of experience in handling water problems for RVers. Don’t miss this one!

  11:45 a.m. to 1:00 p.m.
  HEALTH CONSIDERATIONS FOR HYPERTENSION, DIABETES, AND CORONARY HEART DISEASE, SEMINAR 3

  Wayne & Dahelia Hunt, F235156, present information that is applicable for all individuals desiring to better understand and take control of hypertension (high blood pressure), diabetes (high fasting blood glucose), and coronary heart disease. Learn new facts, reinforce your current knowledge, and/or — this is the best part — take personal steps to improve your life now and for the future. Wayne and Dahelia have years of experience teaching personal fitness trainers to effectively and responsibly educate their clients in the proper application of exercise and how to interact with medical/allied health providers. The lecture will provide information and multiple tools for you to use to improve your knowledge and better oversee your specific programs. It will not diagnose, prescribe medications or supplements, or present any medical treatments.

  11:45 a.m. to 1:00 p.m.
  THE “GET YOU GORGEOUS” 5-MINUTE MAKEOVER, SEMINAR 6

  Join “One Life To Live” star Catherine Hickland for this beauty-on-the go presentation. Catherine is also an author, cosmetics entrepreneur, and avid RV traveler. In fact, she prefers traveling by RV rather than flying, but she discovered that traveling in an RV leaves limited time and space for her beauty routine. So she developed her own techniques for getting gorgeous in just a few minutes. She says these beauty secrets of the stars work for everyone. Eight years ago Catherine developed a cosmetic line that is streamlined for the woman on the go, and she will demonstrate how you can take 10 years off your face with just a few techniques she stumbled upon during the 28 years she has spent on television. Come have a few laughs, get the dish, and learn the best-kept beauty secrets in the world in a very special seminar designed especially for you! You also may have an opportunity to win a free make-up door prize!

  11:45 a.m. to 1:00 p.m.
  TIRE SAFETY TIPS & MONITORING METHODS, SEMINAR 7

  Larry Heppler of PressurePro, C10744, will provide a PowerPoint presentation and an in-depth look at why tire pressure is important, problems, maintenance tips, tire protection, aging, and purchase concerns. Safety concerns, improving handling, under inflation, mismatched duals, and proper storage also will be discussed. Larry will provide the history of tire pressure monitoring systems, the electronic systems now available, a comparison of wired and wireless, installation, accuracy, alarms, and costs. At the end of the seminar you should be able to evaluate which monitoring system is best for you and why.

  11:45 a.m. to 1:00 p.m.
  BEAUTIFYING & PROTECTING YOUR COACH, SEMINAR 8

  Ken Neuman of Protect All, C4321, will discuss techniques that will help you protect your motorhome investment. Time, the sun, and other elements take a toll on the appearance and life of your coach. Cleaning, polishing, and protecting your RV is easy when you know how. Ken has developed an extensive background restoring and caring for the many surfaces of an RV, including fiberglass, paint, plastic, aluminum, rubber, vinyl, rubber roofs, and more. With the ideas presented here, you will be able to keep your coach looking good for years to come. Ample time will be allotted for questions from the audience.

  11:45 a.m. to 1:00 p.m.
  CARE AND PURCHASING FINE JEWELRY, SEMINAR 12

  Jan Williams of JJ’s Gold & Gems, C6750, designed this seminar for maximum audience participation with a question-and-answer session following a short discussion. Topics include jewelry terminology and its meaning; how to recognize markings; current values, including diamonds and colored gems; the proper care of gold; and pricing you may encounter in stores. Jan will discuss jewelry appraisal and its relationship to insurance, and unprofessional practices in the jewelry business. A handout that provides purchasing tips will be available.

  12:00 p.m. to 5:00 p.m.
  FMCA SERVICE CENTER OPEN IN THE GALLERY AT HOOKER CREEK EVENT CENTER

  1:00 p.m.
  ALLAN BYER PERFORMS AT THE DAYTIME ENTERTAINMENT STAGE

  1:30 p.m. to 2:45 p.m.
  COMPUTER SAFETY AND SECURITY FOR THE RV, SEMINAR 3

  Whether you’re a full-time RVer or just like to get away from time to time, having a computer is essential for e-mail and Internet access. However, an RV is a challenging environment for a laptop in terms of safety and security. Come and hear Phil May of TechnoRV, C11722, a 12-year Hewlett-Packard veteran, explain how to keep all your important information and memories safe and secure while traveling.

  1:30 p.m. to 2:45 p.m.
  HIGH-SPEED INTERNET, SEMINAR 6

  Learn about high-speed Internet access at your favorite RV parks and on the road across the country. The seminar will focus on Wi-Fi, but other topics will briefly touch on DSL, cable, satellite, and cellular technology for RVers. Come learn more about how to “Get Away, and Stay Connected!” This seminar will be presented by Jim and Chris Guld of GeeksOnTour.com, C11107.

  1:30 p.m. to 2:45 p.m.
  CLEAN LIKE A PRO, SEMINAR 7

  Nationally recognized professional cleaning expert and green-living coach Mary Findley of the Mary Moppins, C6257, will present manufacturer-approved cleaning instructions for both outside and inside your coach. Mary is the author of The Complete Idiot’s Guide To Green Cleaning and you will learn her time-honored shortcuts and tips to safely and quickly clean and shine your coach using eco-friendly techniques and cleaners. Join Mary for a stains-to-drains tour of earth-friendly cleaning.

  1:30 p.m. to 2:45 p.m.
  RVING ATLANTIC CANADA, SEMINAR 8

  Participants will gain practical information needed to plan and take a trip to Atlantic Canada by RV, whether they travel solo, with a few friends, or with an organized, escorted RV tour. During the presentation, important information will be shared by experienced presenters Barry and Terry Klein of Adventure Caravans, C6954, about preparation tasks, such as determining how many miles a trip will cover, how much time to allow, how to handle mail and e-mail, the best time of year to travel, and what planning resources are available. Participants will receive background on all of the Atlantic provinces with special emphasis on the unique character of Newfoundland and Labrador. Various routes and road conditions will be discussed including the availability of fuel, RV parks, and major towns offering shopping and services. Finally, they will highlight some of the must-see aspects of this adventure and share their own experiences and photos.

  1:30 p.m. to 2:45 p.m.
  ETCHED GLASS AND MAT, SEMINAR 9

  Treat yourself to an old technique made easy. Etch a glass candleholder and make a mat for it to sit on. Each kit includes etching cream, letters and numbers, a paint brush, wool fabric, a leaf pattern, thread, pins, needle, a needle threader, a candleholder, and pre-hemmed fabric. Please bring thin, rubber gloves and sharp fabric scissors. The cost is $20. Sign up at the craft table at the Information Center in North Sister beginning on Wednesday, August 11, at 7:00 a.m. Space is limited. This seminar will be repeated on Friday, August 13, from 1:30 p.m. to 3:15 p.m., in Seminar 12.

  1:30 p.m. to 3:30 p.m.
  RV WEIGHT & TIRE SAFETY, SEMINAR 2

  The RV Weight & Tire Safety Program is co-sponsored by the Recreation Vehicle Safety & Education Foundation (RVSEF), C5999, and FMCA. The seminar will focus on “speaking the language of weight,” providing the RV owner with the knowledge required to assure that the vehicle is operated within all safety limitations. The maintenance and care of tires, and the selection of the proper inflation pressure for optimum performance and safety is a major emphasis of the program. Did you know that under-inflated tires are the number one cause of tire failure? Spend an hour with RVSEF and have a safer and more enjoyable RV experience. Topics will include weight-related definitions; weight disclosure labels; towing components; stopping assistance; tire markings; tire load/inflation tables; new RV considerations; and tire pressure monitoring systems. There is no charge for this educational seminar.

  In addition to the seminar, the RVSEF Motorhome Weighing Service utilizes certified scales to determine individual wheel position loads. Owners complete a worksheet that includes all critical weight and tire ratings. Scale readings and ratings are entered into a custom computer program that generates a weight analysis report, detailing safety margins on each component in terms of whether a rating has been exceeded or not yet reached, and by how much. Owners receive a preliminary weight report at the weighing site, followed by a comprehensive report in the mail, including tire load/inflation tables (allow four to six weeks). The retail cost of weighing is $49. FMCA Member Benefit price is $34. To have your coach weighed, sign up on Wednesday, August 11, at the Information Center located in North Sister beginning at 7:00 a.m., or during exhibit hours at the RV Safety & Education Foundation booth #604 in the Hooker Creek Event Center. Appointments are limited.

  3:15 p.m. to 4:30 p.m.
  MEXICO COPPER CANYON BY RV & TRAIN, SEMINAR 3

  Marcy Krauss of Fantasy RV Tours, C5644, will present this big-screen travelogue featuring the most sought-after RV destination in the world . . . Mexico’s Copper Canyon. This travelogue will take you from the “Rim to Floor” by RV and first-class passenger train, and includes a journey to the floor of the magnificent canyon which has never been offered before. A lucky member attending this seminar will win a $1,000 travel gift certificate good towards a Fantasy RV Tours trip. The drawing will take place at the end of seminar. You must be present to win.

  3:15 p.m. to 4:30 p.m.
  LOW VOLTAGE, SPIKES, AND SURGES – AND WHAT YOU CAN DO ABOUT THEM, SEMINAR 5

  This is a layman’s RV electrical program to help you understand the basics of electrical current flow. Covered is the difference between amperage and voltage, and how they relate to watts. When should you be concerned about electrical input? This session will address the above and show how RVers can minimize their risk to abnormal electrical input. Some of the suggestions have little or no cost. Todd Coffelt of Performance Products, C9624, will provide a comprehensive view of your available options, whether they be surge protection, line analyzing, and/or voltage boosting. Todd will present this information in an easy-to-understand format and time will be provided at the end of his presentation for questions and answers.

  3:15 p.m. to 4:30 p.m.
  PICASA: A FREE PROGRAM FOR MANAGING DIGITAL PHOTOS, SEMINAR 6

  Picasa 3 is a free program from Google and it is simply the best way to manage the hundreds of digital photos that travelers accumulate! Learn how to organize and find photos you forgot you had. One-click e-mailing or printing of whatever photos you specify. Learn how to automatically crop, color-correct, and resize photos for e-mailing or posting to the Web. This seminar will be presented by Chris Guld of GeeksOnTour.com, C11107.

  3:15 p.m. to 4:30 p.m.
  INSIDER CLEANING TIPS, SEMINAR 8

  In this energetic seminar you will learn to clean everything inside your coach without using chemicals. Janet Trannum of Almost Heaven Microfiber, C8707, will show you how to use just three bottles for cleaning everything, and how to clean with peanut butter, Tang, aluminum foil, and cabbage. If you suffer from allergies, this seminar will be beneficial to you. Attend whether you are a clean-freak or not.

  3:15 p.m. to 4:45 p.m.
  PLASTIC BAG CROCHETING, SEMINAR 11

  Shirley Callahan, F198668, will present this seminar in which you will learn how to crochet using plastic bags. Note: You must already know how to crochet to learn this technique with bags. Shirley will teach you how to choose the correct bags and how to fold and cut them into strips. You will receive Shirley’s original tote bag pattern. To learn and get the feel of crocheting with plastic bags, a small doily will be completed in this seminar. Please bring a size G, H, or I crochet hook and scissors to class. Plastic bags will be provided. The cost is $10. Sign up at the craft table in the Information Center located in North Sister beginning on Wednesday, August 11, at 7:00 a.m. Space is limited. This seminar will be repeated on Friday from 11:30 a.m. to 1:00 p.m., in Seminar 12.

  3:15 p.m. to 5:00 p.m.
  EMBOSSED COPPER, SEMINAR 9

  In this seminar, participants will learn how to emboss copper and paint a box using copper-embossed leaves. Patsy Moreland, F232479, will present this seminar. Instructions will be given to emboss other surfaces, such as a backsplash and ceiling treatments. A kit will be provided that includes a box, copper, tools, ribbon, paint, stones, glue, and toothpicks. Please bring old scissors to cut thin copper and a ½-inch paint brush. The cost is $20. Sign up at the craft table at the Information Center in North Sister beginning on Wednesday, August 11, 7:00 a.m. Space is limited. This seminar will be repeated on Saturday, August 14, from 8:00 a.m. to 9:45 a.m., in Seminar 9.

  3:15 p.m. to 5:00 p.m.
  CLUSTER GRAPE PEARL EARRINGS, SEMINAR 10

  In this seminar you will make a pair of earrings using a stick pearl, wire, and Chez glass leaves surrounded by colorful magatama beads. This pair of earrings made with sterling-silver ear wires is a whimsical design. This seminar is presented by Katie Taddeo, F326891, from Katie’s Jewelry Design. The cost is $15. Please bring reading glasses, if needed. Sign up at the craft table in the Information Center located in North Sister beginning on Wednesday, August 11, at 7:00 a.m. Space is limited. This seminar will be repeated on Saturday from 8:00 a.m. to 9:45 a.m., in Seminar 10.

  3:15 p.m. to 5:00 p.m.
  WINE GLASS CHARMS, SEMINAR 12

  Never lose your wine glass again. You will be able to identify your personal wine glass instantly by the color of the charm on your wine glass stem. These small “charmers” are perfect for personal use and as special gifts. Various bead colors will be provided for the individual charms. The kits will include everything you need to make six wine glass charms plus one wine bottleneck charm. Please bring a small terry cloth hand towel on which to place (and to work with) your bead kits. Presented by June Craig, F166339. The cost is $12. Sign up at the Information Center located in North Sister beginning on Wednesday, August 11, at 7:00 a.m. Space is limited.

  3:15 p.m. to 5:15 p.m.
  FIRE & LIFE SAFETY IN YOUR RV, SEMINAR 7

  In this seminar you will learn the causes of most RV fires and how to prevent them. You will learn how to check, test, and use your dry-powder fire extinguisher. You also will be introduced to other types of fire extinguishers, including new clean-air, non-toxic, biodegradable fire-fighting materials, which work particularly well in RV applications. In the live fire portion of the seminar, attendees will have the opportunity to fight a fire with various types of fire extinguishers. Topics also include weight safety; types of gauges needed; smoke/LPG/CO detectors; tire safety; engine and transmission overheating; brakes; escape hatch use; and many other issues relating to RV Fire & Life Safety. This is a hands on seminar.

  Thirty-year fire-fighting veteran Mac McCoy, F175998, of McCoy Enterprises, LLC, C7648, instructs this entertaining course, which teaches skills for fire-safe travel. This seminar will be repeated Thursday from 3:00 p.m. to 5:00 p.m. and Saturday from 11:30 a.m. to 1:30 p.m., in Seminar 7.

  4:00 p.m.
  LINDY GRAVELLE PERFORMS AT THE DAYTIME ENTERTAINMENT STAGE

  4:00 p.m. to 5:00 p.m.
  ROMAN CATHOLIC MASS, SEMINAR 2

  Roman Catholic Mass will be hosted by the Roamin’ Catholic Northwest chapter. Mass will be celebrated by Fr. Ralph Carney, F309996, in Seminar 2, at 4:00 p.m. on Wednesday and in Seminar 3 at 4:30 p.m. on Saturday.

  5:00 p.m. to 8:30 p.m.
  PARADE OF LIGHTS MOTORHOME PREVIEW

  Enjoy visiting the motorhomes on display in the outdoor exhibit area.

  7:00 p.m.
  DAN LEONARDO PERFORMS AT THE DAYTIME ENTERTAINMENT STAGE

  8:30 p.m. to 10:00 p.m.
  KARAOKE IN THE CAFÉ & BISTRO IN THE HORSE BARN

  THURSDAY, AUGUST 12, 2010

  7:00 a.m. to 7:45 a.m.
  EARLY MORNING WORKOUT FOR ALL, SEMINAR 5

  “Early Morning Workout For All,” which will incorporate exercise demonstrations from the TravelFit Rehab Series seminars — Shoulder, Knee, and Back Health — will be presented by Wayne and Dahelia Hunt, F235156. These health, exercise, and resistance-training specialists have been full-time RVers since 1995, and are health-wellness-fitness-performance educators and national presenters with more than 25 years of experience in their field. TravelFit and Professional Fitness Instructor Training are in association with the American College of Integrative Medicine. Wayne and Dahelia are directors of the Health Fitness Performance Institute in Houston, Texas. Exercise is medicine. Make sure to join the Hunts during the “Early Morning Workouts,” held Thursday, Friday, and Saturday, from 7:00 a.m. to 7:45 a.m. in Seminar 5.

  7:00 a.m. to 8:00 a.m.
  MORNING DEVOTIONS, SEMINAR 3

  Led by volunteers from the Oregon-Washington Coaches For Christ chapter. Morning Devotions also will be held on Friday and Saturday at 7:00 a.m., in Seminar 3.

  7:00 a.m. to 9:00 a.m.
  COFFEE AND DOUGHNUTS AT THE COFFEE HOUR AREA, COMPLIMENTS OF ROADMASTER, INC., C2952, AN FMCA FIVE STAR SPONSOR, AND FMCA

  See program map for location.

  7:00 a.m. to 9:00 a.m.
  FRUSTRATED MAESTROS PERFORM AT THE DAYTIME ENTERTAINMENT STAGE

  7:00 a.m. to 5:00 p.m.
  FMCA INFORMATION CENTER OPEN IN NORTH SISTER

  Check the “Grounds Services” section of program for description and “Map Section” of program for location. The Information Center will be open 24 hours a day for emergencies.

  7:00 a.m. to 5:00 p.m.
  COACH OF THE DAY

  Come join in the excitement! Be the first to see new coach models, unique floor plans, special designs, and state-of-the-art equipment at the Coach of the Day area located near the Daytime Entertainment Stage. This area will change daily on Thursday, Friday, and Saturday, from 7:00 a.m. to 5:00 p.m. While getting your coffee and doughnuts each morning, be sure to visit this area to see what is new and different.

  8:00 a.m. to 9:15 a.m.
  GPS & NAVIGATION WITH MICROSOFT STREETS & TRIPS, SEMINAR 1

  How to plan your trips and follow your plan. Using Microsoft Streets and Trips 2010, learn how to plan a multi-stop trip. Understand the different devices available – dashboard, hand-held, and USB devices – for your computer. Even GPS-enabled cell phones such as the Droid. Jim and Chris Guld of GeeksOnTour.com, C11107, will provide step by step instructions on how to use GPS navigation and trip planning.

  8:00 a.m. to 9:15 a.m.
  RVING ALASKA – HOW TO MAKE THIS GREAT TRIP! SEMINAR 4

  RVing to Alaska is different than any other trip. Ron Jones of RV Stuff, C10110, provides “how to” information about planning and actually making this trip. Unless you have taken an RV there, this information will be new and different – mostly in a positive way. Ron will focus on how to make the trip to Alaska by RV with just a smidgen of travel guide tossed in. Learn about differences, traditions, laws, and uniqueness in RVing in the “Lower 48” and northern Canada/Alaska including driving over frost heaves, road conditions, routes, emergency road service, where to go, campgrounds, loonies and toonies, boondocking sites, wildlife, credit cards, historic mile markers, and moose droppings. Join Ron for a great presentation with time for questions.

  8:00 a.m. to 9:15 a.m.
  HOW SHOCKS WORK AND WHY THEY ARE IMPORTANT, SEMINAR 5

  Shock absorbers control all suspension motions including “porposing,” side-to-side motions, cross-wind motions, and tire bouncing that occurs when a motorhome hits a pothole. Vehicle stability is absolutely dependent on the shock absorbers having enough control to stabilize a motorhome that is 12 feet high. In addition, accident avoidance is dependent on the shock absorbers having enough suspension control to avoid conditions such as fast lane changes, tire blow-outs, etc. Shock absorbers use different technologies and some products have different life cycles depending on coach mileage. Presented by Lonnie Woods, CEO of RoadKing Shocks, LLC, C11413.

  8:00 a.m. to 9:15 a.m.
  CUMMINS ENGINE, SEMINAR 6

  Mark Conover and a panel of technical and customer support experts from Cummins Onan, Inc., C4251, will address the most frequently asked questions about Cummins diesel-powered motorhomes. A question-and-answer session will follow the presentation.

  8:00 a.m. to 9:15 a.m.
  CATERPILLAR ENGINE, SEMINAR 7

  This seminar will be presented by Brett Wolfe, F252125, a representative of the Cat RV Club Chapter of FMCA. Brett also is a member of FMCA’s Technical Advisory Committee and Technical Forums Moderator for FMCA.com. He will discuss the maintenance of all Caterpillar RV engines and Cat RV Center after-sales support.

  8:00 a.m. to 10:00 a.m.
  BICYCLING 101, SEMINAR 8

  The bicycling seminar will be presented by two cycling instructors from the League Of American Bicyclist (LAB). Presenter Sami Fournier is the past Education Director for LAB, and currently teaches cycling at the local schools in Redmond and Bend. Presenter Bob Beers, F341770, is a long-time LAB cycling instructor and a Boy Scout cycling merit badge counselor. Both have international cycling experience on mountain and road bikes.

  The seminar will cover an introduction to bicycling, types of bicycles and their applications, how to determine the right size bike, the ABC checks to perform prior to riding a bike, riding safety on the road and trail, clothes, gloves, helmets, etc. A brochure on bicycle road rules will be provided, as well as league handout material. Sign-up is not required to attend this seminar.

  Immediately following the seminar, an introductory skills course will be set up where you will learn some basic bicycling skills including quick stopping, straight-in line riding, scanning to the rear, proper helmet fit, etc. Your bicycle and helmet are required for the skills course. Instruction and use of the skills course is limited to the first 100 people to sign up. Local bike shops will provide bike ABC checks and minor adjustments. Sign-up for the bicycle skills course will be at the FMCA Information Center located in North Sister beginning Wednesday, August 11, at 7:00 a.m.

  8:30 a.m. to 12:00 p.m.
  SUPPLIER, COMPONENT, AND OUTDOOR SUPPLIER PREVIEW

  Enjoy visiting the supplier, component, and outdoor supplier exhibits on display during this exclusive preview. Coach exhibits will open from 12:00 p.m. to 5:00 p.m.

  8:30 a.m. to 5:00 p.m.
  FMCA SERVICE CENTER OPEN IN THE GALLERY AT HOOKER CREEK EVENT CENTER

  9:45 a.m.
  BEAN BAG BASEBALL AT THE ACTIVITIES AREA AT THE HORSE BARN

  9:45 a.m. to 11:00 a.m.
  FMCA & MEMBER BENEFITS, SEMINAR 2

  Membership in FMCA brings with it a variety of benefits designed to enhance the motorhoming lifestyle. Join Judy Czarsty, FMCA national senior vice president, for a briefing regarding the many benefits available to you as an FMCA member. Learn more about your association and become familiar with the benefits afforded to you by FMCA membership.

  9:45 a.m. to 11:00 a.m.
  5 INSIDER TIPS ON SAVING MONEY ON YOUR RV INSURANCE, SEMINAR 3

  Learn simple ways to save money on your RV insurance while protecting your RV investment and your unique lifestyle. Presented by Jack Ingle of Explorer RV Insurance, C8728. Jack will supply you with useful handouts to help ensure you are getting the most for your money.

  9:45 a.m. to 11:00 a.m.
  OCTANE FOR THE BRAIN, SEMINAR 4

  Concerned about an increase in pings, rattles, and knocks under your hood? Does your hot-rod mental engine seem to be operating like a rusty jalopy? Revolutionary new research reveals that your future does not depend solely on a lucky draw in the gene pool or a good roll of the cosmic dice. You have more control over how your brain ages than you may think. Memory loss and cognitive problems are not an inevitable part of aging. Despite the high mileage on life’s odometer, there are plenty of things you can do to keep your cognitive parts tuned and your neurons firing. In this seminar, Jeanie McKay, certified geriatric wellness specialist, cognitive therapy instructor, and author of Octane for the Brain, will explain effective strategies you can use to supercharge your aging brain and lower your neurological disease risk factors. Make time to attend this beneficial presentation as well as the companion seminar, “Maintain Your Memory,” on Thursday, from 1:15 p.m. to 2:30 p.m., in Seminar 4.

  9:45 a.m. to 11:00 a.m.
  WRINKLE-FREE RV LAUNDRY, SEMINAR 5

  An RV combination washer/dryer does not work like the machine in your home or the Laundromat. The problem: wrinkles, lots of wrinkles! Can you wash and dry wrinkle-free in a combination unit? Learn to wash four king-size sheets or six pairs of jeans in one load – wrinkle free. Join Sandy Jones of RV Stuff, C10110, for a great presentation with time for questions.

  9:45 a.m. to 11:00 a.m.
  BASICS OF REFRIGERATION, SEMINAR 6

  The importance of the RV refrigerator cannot be overstated. Unfortunately, it is often the most misunderstood appliance in a motorhome. Brent Grieves of Thetford/Norcold, C109, will present a seminar on the operation and maintenance of the RV refrigerator. After the presentation, questions will be encouraged.

  9:45 a.m. to 11:45 a.m.
  MICROWAVE-CONVECTION COOKING – BEGINNER ABCs FOR SHARP OVEN OWNERS, SEMINAR 1

  Learn the basics of setting and operating your Sharp microwave-convection oven from cooking expert and microwave-convection cookbook author Janet Sadlack of Microwave Connection, C9626. She provides step-by-step instructions to get you started. This is a beginner’s class on oven operation. For cooking ideas, come to Janet’s “Microwave-Convection Cooking-On-The-Go” seminar Thursday from 3:00 p.m. to 5:00 p.m., in Seminar 1, and her “Microwave Cooking For One Or Two” seminar Friday from 9:45 a.m. to 11:45 a.m., in Seminar 1.

  9:45 a.m. to 12:45 p.m.
  RV DRIVING SAFETY PROGRAM, SESSION 1, SEMINAR 7

  The RV Driving Safety Program is co-sponsored by the Recreation Vehicle Safety & Education Foundation (RVSEF), C5999, an FMCA Three Star sponsor, and FMCA. The program will provide you with helpful driving information and tips from seasoned operators, and is intended to help make your driving experience a safe one. With proper attention to the differences in vehicle size, height, and weight, you will find it easy to hit the road in your motorhome.

  The major objectives of this program are to increase driver awareness; identify drivers’ abilities; understand and identify your vehicle(s); determine conditions that affect driving; and make participants safer drivers. Everyone who completes this course will receive a certificate that may entitle them to a discount on their insurance premiums. The terms and amount of discounts will vary by state and company, so check with your insurance agent regarding your own RV coverage.

  The program will accommodate approximately 150 participants. The six-hour program is divided into two sessions of three hours each. The cost is $20 per person payable at the RVSEF RV Driving Safety Program registration booth in the Information Center located in North Sister. Registration begins Wednesday, August 11, at 7:00 a.m. in the Information Center located in North Sister, and will continue until the program is full. The program schedule follows:

  Session 1
  Thursday, 9:45 a.m. – 12:45 p.m., Seminar 7

  Session 2
  Friday, 8:00 a.m. – 11:00 a.m., Seminar 7

  10:30 a.m. to 2:30 p.m.
  BOOK SIGNING & ILLUSTRATION SHOW, INFORMATION CENTER

  Explore the wonder of children’s books through a visit and book signing with Mary Jean Kelso, author, and K.C. Snider, illustrator, during FMCA’s 84th International Convention.

  Mary Jean Kelso is an author of children’s books as well as several young adult and adult novels. Her children’s books are Academic Wings editions from Guardian Angel Publishing, Inc. They provide teachers and homeschoolers with additional learning tools as well as entertaining reading for children. Mary Jean has been an avid RVer for most of her life. Her recently published children’s book, RV Mouse, is the story of a wayward mouse that has misadventures in a motorhome and causes chaos in the campground.

  K.C. Snider is a prominent Oregon artist who has branched out into a variety of styles and subjects. She lives in the high desert area with majestic views of the Cascade Mountains as her inspiration. Her collection of oil paintings, lithographs, and pencil drawings include the All-American Cowboy and Cowgirl and their historical lifestyles with magnificent wolves, buffalo herds, eagles, and birds of prey. K.C. has won numerous awards and she also illustrates children’s books, including RV Mouse. She will be present during the book signing along with some examples of her wonderful artwork.

  Don’t miss the opportunity to visit with these talented individuals at the Information Center located in North Sister on Thursday from 10:30 a.m. to 2:30 p.m. Also, join Mary Jean and K.C. for an “Introduction to Writing & Illustrating Children’s Books” seminar on Thursday from 3:00 p.m. to 4:15 p.m. in Seminar 3.  Those who are interested in writing, or who aspire to be authors or illustrators, will have a chance to pick up tips on breaking into publication as well as ask specific questions during a question-and-answer period.

  11:00 a.m.
  ALLAN BYER PERFORMS AT THE DAYTIME ENTERTAINMENT STAGE

  11:30 a.m. to 12:45 p.m.
  MEDEX – THE TRAVEL PROGRAM THAT PROVIDES TRAVEL ASSISTANCE, EMERGENCY EVACUATION, AND REPATRIATION, SEMINAR 2

  This seminar is presented by Jackie Connor of MEDEX, C10282, for FMCA’s MEDEX Plus Program, a free benefit that is automatically provided to every active family, associate, and life member of FMCA. MEDEX Plus is the travel program that provides emergency evacuation, repatriation, and travel assistance 24 hours a day, 365 days a year, while traveling in the United States, Canada, or Mexico. Travel can be for business or pleasure at a distance of 100 or more miles from your primary residence. MEDEX must approve and coordinate all services. MEDEX shall not be responsible for the costs of travel arrangements coordinated without the intervention of MEDEX. Everyone in attendance will receive a MEDEX ID card and brochure.

  11:30 a.m. to 12:45 p.m.
  A GREAT INFORMATION RESOURCE: FMCA FORUMS ON FMCA.COM, SEMINAR 3

  The FMCA.com Forum is not even 2 years old and it already has approximately 15,000 registered members (no cost). They’re using the forum to find and share information about every motorhoming topic imaginable, from technical to destinations. This seminar is your chance to meet other forum members, ask questions, and get useful tips. Everyone is encouraged to attend, including forum newbies and experienced forum users.

  11:30 a.m. to 12:45 p.m.
  SOUTHERN AFRICA WILDLIFE SAFARI BY RV, SEMINAR 4

  Fantasy RV Tours, C5644, will present this RV safari big-screen travelogue that will open your senses and your imagination to plants, animals, sights, and sounds unknown anywhere else in the world. See elephants, lions, tigers, giraffes, hippos, rhinos, and other big game at Kruger National Park and Game Preserves. A lucky FMCA seminar attendee will win a National Lifetime Camping Membership to Western Horizon Resorts, a $6,995 value! The drawing will take place at the end of the seminar. Must be present to win.

  11:30 a.m. to 12:45 p.m.
  KNEE-HIP-ANKLE HEALTH, SEMINAR 5

  Did you once walk a lot, but now your knees, hips, and/or ankles hurt too badly to continue? Proven and simple rehabilitative exercises and techniques will be demonstrated during the seminar. You will be able to participate by doing some exercises from your chair! Knee Health will show you how to strengthen weak muscles and stretch tight muscles in those aching knees. Apply and practice exercises specific to knee-hip-ankle health by attending the “Early Morning Workout For All” on Thursday, Friday, and Saturday from 7:00 a.m. to 7:45 a.m. in Seminar 5. Presented by Wayne & Dahelia Hunt, F235156.

  11:30 a.m. to 12:45 p.m.
  TEN MAINTENANCE TIPS EVERY RVER SHOULD KNOW, SEMINAR 6

  There are two types of maintenance – preventive and crisis. It is the purpose of this seminar to equip owners with the information necessary to accomplish the former and to avoid the latter. Learn how operational problems can be minimized and oftentimes eliminated entirely. Presented by Gary Bunzer, the “RV Doctor,” who will discuss the importance of preventive maintenance and cover the what, why, and when questions. Gary’s other seminars at the “Redmond Rocks!” convention will include “Photovoltaics And Recreational Vehicles” on Thursday in Seminar 6 from 1:15 p.m. to 2:30 p.m.; “Spare Parts & Key Questions” on Friday in Seminar 6 from 9:45 a.m. to 11:00 a.m.; and “Optimizing Your RV Battery System” on Friday in Seminar 6 from 11:30 a.m. to 12:45 p.m. Gary also will moderate the “Ask The Experts Roundtable” on Thursday in Seminar 6 from 3:00 p.m. to 4:15 p.m., and “Generator Maintenance Roundtable” on Friday in Seminar 6 from 8:00 a.m. to 9:15 a.m.

  11:30 a.m. to 12:45 p.m.
  STEERING, SUSPENSIONS, COACH RIDE, & HANDLING, SEMINAR 8

  Please see description in Wednesday’s 8:15 a.m. time slot.

  11:30 a.m. to 12:45 p.m.
  BINGO MANIACS CHAPTER MEETING, SEMINAR 12

  11:30 a.m. to 1:30 p.m.
  PASTEL ART PIECE IN FRAME, SEMINAR 9

  Melanie Bills from Redmond will teach you how to work on pastels on “wallis” paper. During this class, attendees will complete a 5-inch-by 5-inch pastel work of art and frame it in a 10-inch-by-10-inch matted, wood frame. All supplies included. The cost is $25. Sign up at the craft table at the Information Center in North Sister beginning Wednesday, August 11, at 7:00 a.m. Space is limited.

  11:30 a.m. to 1:30 p.m.
  VINES DELIGHT, SEMINAR 10

  In this seminar you will make a pair of earrings to compliment your love for the fruit of the vine. Combine a mother-of-pearl shell, Chez glass leaves, and magatama beads to create a unique design. This seminar is presented by Katie Taddeo, F326891, from Katie’s Jewelry Design. The cost is $15. Please bring reading glasses, if needed. Sign up at the craft table in the Information Center located in North Sister beginning on Wednesday, August 11, at 7:00 a.m. Space is limited. This seminar will be repeated on Friday from 11:30 a.m. to 1:30 p.m. in Seminar 10.

  11:30 a.m. to 1:30 p.m.
  CHEERY RECIPE BOX, SEMINAR 11

  In this seminar you will learn how to create a wonderful recipe box ready to fill with all your favorite family recipes to pass on to your children, grandchildren, or that special bride. All supplies included to cover the box and you also will receive multiple embellishments to customize your box. Also, 10 decorated recipe cards will be included! This box also could be used to store 4-inch-by-6-inch photos. Marcie Ronken, F351667, will present this seminar. The cost is $15. All supplies are included in this fee. Door prizes will be awarded during this class! Sign up at the craft table in the Information Center located in North Sister beginning on Wednesday, August 11, at 7:00 a.m. Space is limited.

  12:00 p.m. to 5:00 p.m.
  MOTORHOME, SUPPLIER, COMPONENT, AND OUTDOOR SUPPLIER EXHIBITS OPEN

  1:15 p.m. to 2:30 p.m.
  COACH-NET EMERGENCY ROAD SERVICE, SEMINAR 2

  Convention attendees will have an opportunity to learn more about the emergency road service program created especially for FMCA. This comprehensive, 24-hour-a-day, nationwide roadside assistance program includes 40,000 contracted service providers throughout the United States and Canada. All family vehicles are included. Ed Thor of Coach-Net, C4055, will conduct the seminar. This seminar will be repeated on Saturday, August 14, from 8:00 a.m. to 9:15 a.m., in Seminar 3.

  1:15 p.m. to 2:30 p.m.
  DIGITAL DIESEL INSTRUMENTATION AND DIAGNOSTICS WITH SILVERLEAF, SEMINAR 3

  Do you have a SilverLeaf engine monitor in your diesel coach? Are you interested in learning how to use it to get better fuel economy, avoid engine problems, and even scale the mountains faster? Martin Perlot of SilverLeaf Electronics, C7764, will discuss the most important gauges and features of this product, and how to use the information it provides while you drive. Driving strategies that maximize your fuel economy, as well as hill-climbing and heat-management techniques will be discussed.

  1:15 p.m. to 2:30 p.m.
  MAINTAIN YOUR MEMORY, SEMINAR 4

  So you tied a string on your finger, but you can’t remember why. Oh, dear! As we all know, aging wreaks havoc on memory. In fact, annoying “senior moments” tend to drive us crazy. It is helpful, however, to understand how your memory works, and why it sometimes doesn’t. Ever wonder, for example, why you lose your car keys but remember how to drive? Jeanie McKay, certified geriatric wellness specialist, cognitive therapy instructor, and author of Octane for the Brain, has helped thousands of older adults improve their memory function. She will explain simple things you can do to prime and protect your memory. The great news is that – no matter your age – with adequate effort, you CAN improve your ability to remember. Attend this seminar as well as the “Octane for the Brain” seminar on Thursday, from 9:45 a.m. to 11:00 a.m., in Seminar 4. By attending both you will discover many ways to keep your cognitive parts and memory fit and functional.

  1:15 p.m. to 2:30 p.m.
  MAKING A DIFFERENCE THROUGH HABITAT FOR HUMANITY®, SEMINAR 5

  Presented by Bill McLaughlin, F281417. Learn what Habitat for Humanity® is all about and how to become involved in “building houses and renewing hope” during your RV travels.

  1:15 p.m. to 2:30 p.m.
  PHOTOVOLTAICS AND RECREATIONAL VEHICLES, SEMINAR 6

  In this seminar Gary Bunzer, the “RV Doctor,” will discuss how solar energy systems work; equipment requirements; and maintenance. Gary has written and produced a comprehensive series of presentations detailing how-to tips and maintenance advice for RV owners and he has developed professional RV technician training curriculum along with a series of training videos for the RV industry. He has been serving the RV industry since 1968 and he is a frequent contributor to Family Motor Coaching magazine and www.FMCA.com. Gary’s other seminars at the “Redmond Rocks!” convention will include “Ten Maintenance Tips Every RVer Should Know” on Thursday in Seminar 6 from 11:30 a.m. to 12:45 p.m.; “Spare Parts & Key Questions” on Friday in Seminar 6 from 9:45 a.m. to 11:00 a.m.; and “Optimizing Your RV Battery System” on Friday in Seminar 6 from 11:30 a.m. to 12:45 p.m. Gary also will moderate the “Ask The Experts Roundtable” on Thursday in Seminar 6 from 3:00 p.m. to 4:15 p.m. and “Generator Maintenance Roundtable” on Friday in Seminar 6 from 8:00 a.m. to 9:15 a.m.

  1:15 p.m. to 2:30 p.m.
  ALL ABOUT MADISON, WISCONSIN, 2011 CONVENTION

  Attend this session to hear all about Madison, Wisconsin, FMCA’s destination for the 2011 summer convention. This seminar will be presented by Laura Senz from the Greater Madison Convention & Visitors Bureau. As one of the few cities in the world built upon an isthmus, Madison is uniquely situated between two glacial lakes and is literally surrounded by natural beauty. Five area lakes, more than 260 city parks and over 120-miles of shared-use biking and walking trails are open year-round for a wide range of outdoor activities. Madison boasts a multi-million-dollar performing arts center, excellent live music venues, resident theater groups, and literally a mile of museums. Home to the Wisconsin State Capital and world-renowned University of Wisconsin – Madison, you will find this city home to a diverse population with wide-ranging interests and perspectives. No trip would be complete without experiencing the great shops and dozens of locally owned, family-fun restaurants that line State Street – the heart of Madison. And don’t forget to partake in our area’s wonderful ice cream treats! Stop by the Information Center to register to win the Madison flavors gift basket. www.visitmadison.com.

  1:15 p.m. to 2:30 p.m.
  DETAILING THE OUTSIDE OF YOUR COACH, SEMINAR 8

  Learn cleaning tips used by many detailers for a beautiful, clean, and shiny coach exterior. You will learn how to clean without a ladder and with little effort – no chemicals or soap used. Janet Trannum of Almost Heaven Microfiber, C8707, will cover when to wax; tricks of Mother Nature; and tips on how to remove tar, grease, and love bugs. You will be cleaning with products right out of your kitchen cupboard. Be prepared to take notes.

  2:00 p.m.
  LAUGHING BIRD PERFORMS AT THE DAYTIME ENTERTAINMENT STAGE

  3:00 p.m. to 4:15 p.m.
  FMCA SECRETARY’S AND TREASURER’S FORUM, SEMINAR 2

  FMCA national secretary Joanne R. Durbin, L76454, and FMCA national treasurer Wil Young, F207019, will discuss the responsibilities of the secretaries and treasurers of chapters and area associations. The Treasurer’s Guidelines and The Guidelines for Chapter and Area Association Secretaries will be handed out. Everyone is welcome.

  3:00 p.m. to 4:15 p.m.
  INTRODUCTION TO WRITING AND ILLUSTRATING CHILDREN’S BOOKS, SEMINAR 3

  Join Mary Jean Kelso, author, and K.C. Snider, artist, as they talk about writing and illustrating books. Mary Jean is an author of children’s books as well as several young adult and adult novels. Her articles and photographs have been published in magazines, including Family Motor Coaching, and many newspapers. She has won awards from the National Press Association and the Nevada Press Association.  K.C. is a prominent award-winning Oregon artist known for her oil paintings, lithographs, and pencil drawings, in addition to her children’s book illustrations. This is a unique opportunity for you to receive an insider’s perspective on their crafts. During this seminar K.C. will demonstrate her art while she talks about illustrating and Mary Jean will discuss the writing end of things. A short video trailer will be shown for their latest venture, RV Mouse, an illustrated children’s book. Those who are interested in writing, or who aspire to be authors or illustrators, will have a chance to pick up tips on breaking into publication as well as ask specific questions during a question-and-answer period.

  3:00 p.m. to 4:15 p.m.
  RVING ALASKA, THE LAST GREAT FRONTIER, SEMINAR 4

  This big-screen travelogue features RVing America’s Last Great Frontier. The seminar will take you through the majestic Canadian Rockies, Columbia Icefields, Top of the World Highway, and Alaska’s Kenai Peninsula. Denali National Park and Mt. McKinley are also a site to behold and a wildlife lover’s dream with bears, moose, and sheep roaming throughout the park. Salmon and halibut fishing, panning for gold, and colorful native culture waits for you. Come see Mother Nature at her best! Presented by Alaska wagonmasters from Fantasy RV Tours, C564. A lucky FMCA seminar attendee will have a chance to win a National Lifetime Camping Membership to Western Horizon Resorts valued at $6,995! The drawing will take place at the end of seminar. Must be present to win.

  3:00 p.m. to 4:15 p.m.
  FMCA CHAPTER: HABITAT FOR HUMANITY® CHAPTER MEETING, SEMINAR 5

  3:00 p.m. to 4:15 p.m.
  ASK THE EXPERTS, SEMINAR 6

  One of the great advantages of membership in Family Motor Coach Association is having access to the tremendous wealth of experience and knowledge held by your fellow family and commercial members. In this forum you will have the opportunity to present your questions to a panel of motorhome “experts,” as well as share your experience with other attendees. You will receive tips, suggestions, and answers to your motorhome questions, and obtain guidance to additional resources for more complex or special issues. The panel of experts will include Gary Bunzer, the “RV Doctor”; Walter Cannon, Executive Director of the Recreation Vehicle Safety & Education Foundation (RVSEF), C5999; and Brett Wolfe, F252125, a member of FMCA’s Technical Advisory Committee and Technical Forums Moderator for FMCA.com.

  3:00 p.m. to 5:00 p.m.
  MICROWAVE-CONVECTION COOKING-ON-THE-GO, SEMINAR 1

  Discover how easy it is to use and understand your microwave-convection oven with simple-to-make ideas for on-the-go cooking. Janet Sadlack of Microwave Connection, C9626, is a frequent presenter at motorhome rallies. She will share favorite recipes and experiences from the past as well as include many helpful tips while explaining the convection, combination, and preset features of the oven. Ms. Sadlack is author of the cookbooks Easy Microwave-Convection Cooking and Microwave-Convection Cooking On-the-Go. For other cooking ideas, come to Janet’s “Microwave-Convection Cooking – Beginner ABCs For Sharp Oven Owners” seminar Thursday from 9:45 a.m. to 11:45 a.m., in Seminar 1, and her “Microwave Cooking For One Or Two” seminar Friday from 9:45 a.m. to 11:45 a.m., in Seminar 1.

  3:00 p.m. to 5:00 p.m.
  FIRE & LIFE SAFETY IN YOUR RV, SEMINAR 7

  Please see description in Wednesday’s 3:15 p.m. to 5:15 p.m. time slot.

  3:00 p.m. to 5:00 p.m.
  PACKING TAPE PLAYING CARD PURSE, SEMINAR 9

  Melanie Bills from Redmond will teach you how to make this “green” project. In this class, attendees will complete a purse made from old playing cards. Other options available instead of playing cards for this project are postcards, greeting cards, photos, baseball cards, card stock, scrap fabric . . . the ideas are endless! Instructions are included for this project and patterns for other designs are also included. The cost is $10. Sign up at the craft table at the Information Center in North Sister beginning Wednesday, August 11, at 7:00 a.m. Space is limited.

  3:00 p.m. to 5:00 p.m.
  FRUIT OF THE VINE, SEMINAR 10

  In this seminar you will make a delightful, 3-inch-by-3-inch pin from wire, Chez glass leaves, and magatama beads on a base of copper wire. This seminar is presented by Katie Taddeo, F326891, from Katie’s Jewelry Design. The cost is $20. Please bring reading glasses, if needed. Sign up at the craft table in the Information Center located in North Sister beginning on Wednesday, August 11, at 7:00 a.m. Space is limited. This seminar will be repeated on Friday from 1:30 p.m. to 3:30 p.m. in Seminar 10.

  3:00 p.m. to 5:00 p.m.
  FRIENDSHIP BINDER, SEMINAR 11

  Do you have trouble keeping track of all the new friends you meet during your travels? In this class you will create a cute binder to hold 4-inch-by-6-inch photos of your new friends and their contact information. Now you can put faces to those names! This binder also would make a great brag book or recipe keeper! Marcie Ronken, F351667, will present this seminar. The cost is $15. All supplies are included. Sign up at the craft table in the Information Center located in North Sister beginning on Wednesday, August 11, at 7:00 a.m. Space is limited.

  3:00 p.m. to 5:00 p.m.
  T-SHIRT WEAVING, SEMINAR 12

  Do you have a T-shirt that is too long? Would you like to personalize one of your shirts? Shorten that T-shirt and/or add a personal touch. This class will show you how. All you need to create your customized T-shirt are: A T-shirt, sharp scissors, and a pen or pencil. The cost is $5. Sign up at the Information Center located in North Sister beginning on Wednesday, August 11, at 7:00 a.m. Space is limited.

  4:30 p.m. to 5:30 p.m.
  BOUNDER-ROOS CHAPTER FORMATION MEETING, SEMINAR 4

  4:30 p.m. to 5:30 p.m.
  FRIENDS OF BILL W. CHAPTER MEETING, SEMINAR 5

  4:30 p.m. to 6:30 p.m.
  KNOW YOUR LAPTOP COMPUTER, SEMINAR 2

  You probably never had “Computers 101” in high school, did you? Even people who have been using a computer for years have some holes in their basic knowledge. Using your own PC laptop, Jim and Chris Guld of GeeksOnTour.com, C11107, will take you on a walk-through. You will document your computer’s specifications, learn one way to back up files, check your computer’s security settings, and use Wi-Fi Internet browsing. Demonstrations will use Windows 7. Vista and XP also will be addressed. Sorry, no Macs. Class includes a workbook and DVD with tutorial videos (a $20 value). Bring your laptop and its power cables. This seminar will be presented in two, two-hour sessions and the fee for all four hours of personalized instruction is $60 per computer. Class size is limited and you must register and pay at the Geeks-On-Tour table that can be found at the Information Center located in North Sister beginning at 7:00 a.m. on Wednesday, August 11. Registrations will be taken until the class is full. Please note: Once the class is full, no further sign-ups will be permitted and walk-ins cannot be admitted due to the individualized nature of the instruction. The course schedule follows:

  Session 1
  Thursday, 4:30 p.m. – 6:30 p.m., Seminar 2

  Session 2
  Friday, 4:30 p.m. – 6:30 p.m., Seminar 2

  4:45 p.m. to 6:00 p.m.
  M.I.M.E. CHAPTER MEETING, SEMINAR 3

  5:30 p.m. to 6:30 p.m.
  CAT RV CLUB CHAPTER MEETING, SEMINAR 6

  5:30 p.m. to 6:45 p.m.
  WORKHORSE CUSTOM CHASSIS OWNERS’ GATHERING, SEMINAR 7

  8:00 p.m. 
  TEXAS TENORS PERFORM AT JUNIPER ARENA

  FRIDAY, AUGUST 13, 2010

  FREE HUGS DAY

  Attendees are encouraged to display their own “Free Hugs” sign and watch the fun spirit of FMCA come alive. The FMCA “Surprise Patrol” will be looking for huggers and may be rewarding them with Bonus Bucks that may be redeemed at participating supplier exhibit booths and concessions displaying the Bonus Bucks sign.

  7:00 a.m. to 7:45 a.m.
  EARLY MORNING WORKOUT FOR ALL, SEMINAR 5

  Please see description in Thursday’s 7:00 a.m. to 7:45 a.m. time slot. This seminar will be repeated on Saturday, from 7:00 a.m. to 7:45 a.m. in Seminar 5.

  7:00 a.m. to 8:00 a.m.
  MORNING DEVOTIONS, SEMINAR 3

  Led by volunteers from the Oregon-Washington Coaches For Christ chapter. Morning Devotions also will be held on Saturday at 7:00 a.m., in Seminar 3.

  7:00 a.m. to 9:00 a.m.
  COFFEE AND DOUGHNUTS AT THE COFFEE HOUR AREA, COMPLIMENTS OF ROADMASTER, INC., C2952, AN FMCA FIVE STAR SPONSOR, AND FMCA

  See program map for location.

  7:00 a.m. to 9:00 a.m.
  FRUSTRATED MAESTROS PERFORM AT THE DAYTIME ENTERTAINMENT STAGE

  7:00 a.m. to 5:00 p.m.
  FMCA INFORMATION CENTER OPEN IN NORTH SISTER

  Check the “Grounds Services” section of program for description and “Map Section” of program for location. The Information Center will be open 24 hours a day for emergencies.

  7:00 a.m. to 5:00 p.m.
  COACH OF THE DAY

  Come join in the excitement! Be the first to see new coach models, unique floor plans, special designs, and state-of-the-art equipment at the Coach of the Day area located near the Daytime Entertainment Stage. This area will change daily on Thursday, Friday, and Saturday, from 7:00 a.m. to 5:00 p.m. While getting your coffee and doughnuts each morning, be sure to visit this area to see what is new and different.

  8:00 a.m. to 9:15 a.m.
  BLOGGER: EVERY RVER NEEDS A BLOG, SEMINAR 1

• August 03, 2010
• 7:23

  July 2010 Pending Home Sales

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Pending Home Sales Ease in Post-Tax Credit Market

  Washington, August 03, 2010

  Pending home sales edged down with near-term sales expected to be notably lower in contrast to the spring surge when buyers rushed to take advantage of the home buyer tax credit, according to the National Association of Realtors®.

  The Pending Home Sales Index,* a forward-looking indicator, declined 2.6 percent to 75.7 based on contracts signed in June from an upwardly revised level of 77.7 in May, and is 18.6 percent below June 2009 when it was 93.0. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

  Lawrence Yun, NAR chief economist, said lower home sales are expected in the short term. “There could be a couple of additional months of slow home-sales activity before picking up later in the year, provided the job market continues to improve,” he said. “Over the short term, inventory will look high relative to home sales. However, since home prices have come down to fundamentally justifiable levels, there isn’t likely to be any meaningful change to national home values. Some local markets continue to show strengthening prices.”

  Yun expects mortgage interest rates to remain historically low for the balance of the year, with very modest growth in employment. “We really need to see stronger job creation to have a meaningful recovery in the housing markets,” he added.

  The PHSI in the Northeast dropped 12.2 percent to 58.8 in June and is 25.4 percent lower than June 2009. In the Midwest the index fell 9.5 percent to 64.1 and is 27.8 percent lower than a year ago. Pending home sales in the South rose 3.7 percent to an index of 85.8, but are 13.3 percent below June 2009. In the West the index slipped 0.2 percent to 85.1 but is 14.2 percent below a year ago.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  NOTE: References to local markets are from unpublished data. For more information, please contact the local association of Realtors®.

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  Existing-home sales for July will be reported August 24 and the next Pending Home Sales Index will be on September 2; release times are 10 a.m. EDT.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• August 01, 2010
• 21:20

  NAR Speaks Out

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  NAR Says Congress Needs to Act Soon to Ease Credit in Challenged Commercial Real Estate Markets

  Washington, July 29, 2010

  Testifying before a House panel today, Jim Helsel, treasurer of the National Association of Realtors® and commercial real estate specialist, told members that a strong commercial real estate sector is vital to millions of U.S. jobs and helps keep the national economy afloat.

  “As the leading advocate for private property rights, NAR believes it is critical for Congress to act soon and to get capital flowing to small businesses and to the commercial real estate market,” Helsel, president of Helsel Inc., Realtors®, in Camp Hill, Pa., told the House Committee on Financial Services.

  “Lack of available credit remains a significant challenge for our industry right now,” Helsel said. He commended the panel for passage in June of H.R. 5297, “The Small Business Lending Fund Act of 2010,” which ensures community banks have both the incentive and capacity to increase total loans to small businesses. Raising the SBA loan limits and allowing SBA 504 loans to be used to refinance performing property can help ease the liquidity crisis in the commercial sector, he said.

  Another credit avenue, credit unions, could increase available credit to small businesses, Helsel said. NAR strongly supports legislation, H.R. 3380 introduced by Reps. Paul Kanjorski (D-Pa.) and Ed Royce (R-Calif.), that would raise the credit union member business lending cap from 12.25 percent to 25 percent of total assets. Currently, small regional and community banks account for almost half of the small business loans issued in the U.S.

  “That has put a significant dent in the credit available to the small business community and has reduced cash flow and elevated vacancies in commercial real estate,” he said. The Credit Union National Association estimates that if H.R. 3380 becomes law, credit unions could extend up to $10 billion in additional business loans and help create 108,000 jobs. Helsel said NAR is strongly urging the Senate to include such provisions when it considers H.R. 5297.

  Helsel also said that NAR supports the Senate’s efforts to include more generous depreciation allowances for commercial properties in the Senate bill. “Accelerated depreciation would incentivize new equity investment to commercial real estate, reducing debt-to-income ratios and strengthening income-producing properties,” he said.

  NAR also applauds the goals of H.R. 5816, the “Commercial Real Estate Stabilization Act,” to clear troubled properties off the market, and is ready to work with the committee when it begins to review the proposal, Helsel said.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• July 28, 2010
• 20:53

  Central Oregon Rural Housing Bill Passed

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  This rural financing is not available in Bend Oregon but will be available in some of the out lying areas in Central Oregon.  The National Association of Realtors just released this article.

  Thousands of Rural Home Buyers Aided by Passage of Housing Funding Measure

  Central Oregon Rural Housing

  Washington, July 28, 2010

  The restoration of the single-family rural housing program that would guarantee home loans for rural buyers was passed by the Senate today and is on its way to President Obama.

  The National Association of Realtors® has vigorously lobbied to restore funding for the rural program since last March, and hailed this development as a great victory for rural home buyers.

  “This is going to be a great lift for thousands of rural home buyers who need to close on their home purchases before Sept. 30 to take advantage of the home buyer tax credit,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “Many rural families would have been left out in the cold without these guaranteed loans. Increasing the commitment authority will help rural families, support local housing markets, create jobs and generate new tax revenues,” Golder said. 

  “The rural housing program is a good example of the kind of program needed for responsible and qualified home buyers who bring common sense to the housing market,” said Golder. The legislation increases the guarantee fee for borrowers, but allows the fee to be financed. “This change will make the program completely self-sufficient,” she said.

  Golder thanked Sen. Michael Bennet (D-Colo.), and Reps. Paul Kanjorski (D-Pa.) and Shelley Moore Capito (R-W.Va.) for moving the bill to passage in both houses.

  The legislation was part of H.R. 4899, “The Emergency Supplemental Appropriations Act” that the Senate passed today. The measure increases the Rural Housing Service commitment authority allowing guaranteed loans; previously, RHS has been providing conditional commitments. The RHS is expected to announce new guidelines shortly after the president signs the bill.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• July 22, 2010
• 8:42

  National Home Sales for June 2010

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Existing-Home Sales Slow in June but Remain Above Year-Ago Levels

  Washington, July 22, 2010

  With the scheduled closing deadline for the home buyer tax credits, existing-home sales slowed in June but remained at relatively elevated levels, according to the National Association of Realtors®.

  Existing-home sales¹, which are completed transactions that include single-family, townhomes, condominiums and co-ops, fell 5.1 percent to a seasonally adjusted annual rate of 5.37 million units in June from 5.66 million in May, but are 9.8 percent higher than the 4.89 million-unit pace in June 2009.

  Lawrence Yun, NAR chief economist, said the market shows uncharacteristic yet understandable swings as buyers responded to the tax credits. “June home sales still reflect a tax credit impact with some sales not closed due to delays, which will show up in the next two months,” he said.

  “Broadly speaking, sales closed after the home buyer tax credit will be significantly lower compared to the credit-induced spring surge. Only when jobs are created at a sufficient pace will home sales return to sustainable healthy levels.”

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.74 percent in June from 4.89 percent in May; the rate was 5.42 percent in June 2009.

  The national median existing-home price² for all housing types was $183,700 in June, which is 1.0 percent higher than a year ago. Distressed homes were at 32 percent of sales last month, compared with 31 percent in May; it was also 31 percent in June 2009.

  NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said softer home sales expected this summer don’t tell the whole story. “Despite these market swings, total annual home sales are rising above 2009 and we’re looking for overall gains again this year as well as in 2011,” she said. “Conditions have become more balanced in much of the country, which is good for both buyers and sellers. However, consumers find it even more challenging to navigate the transaction process, especially for distressed properties, which only underscores the value Realtors® bring to buyers and sellers in this market.”

  A parallel NAR practitioner survey³ shows first-time buyers purchased 43 percent of homes in June, down from 46 percent in May. Investors accounted for 13 percent of sales in June, little changed from 14 percent in May; the remaining purchases were by repeat buyers. All-cash sales were at 24 percent in June compared with 25 percent in May.

  Total housing inventory at the end of June rose 2.5 percent to 3.99 million existing homes available for sale, which represents an 8.9-month supply⁴ at the current sales pace, up from an 8.3-month supply in May.

  “The supply of homes on the market is higher than we’d like to see. But home prices are still holding their ground because prices had already overcorrected in many local markets,” Yun said. Raw unsold inventory remains 12.7 percent below the record of 4.58 million in July 2008.

  Single-family home sales fell 5.6 percent to a seasonally adjusted annual rate of 4.70 million in June from a level of 4.98 million in May, but are 8.5 percent above the 4.33 million pace in June 2009. The median existing single-family home price was $184,200 in June, up 1.3 percent from a year ago.

  Single-family median existing-home prices were higher in 10 out of 19 metropolitan statistical areas reported in June in comparison with June 2009. In addition, existing single-family home sales rose in 12 of the 19 areas from a year ago while two were unchanged.

  Existing condominium and co-op sales slipped 1.5 percent to a seasonally adjusted annual rate of 670,000 in June from 680,000 in May, but are 20.5 percent higher than the 556,000-unit pace in June 2009. The median existing condo price⁵ was $180,100 in June, which is 1.4 percent below a year ago.

  Regionally, existing-home sales in the Northeast rose 7.9 percent to an annual level of 960,000 in June and are 17.1 percent above June 2009. The median price in the Northeast was $244,300, down 1.2 percent from a year ago.

  Existing-home sales in the Midwest dropped 7.5 percent in June to a pace of 1.23 million but are 11.8 percent higher than a year ago. The median price in the Midwest was $155,900, down 0.1 percent from June 2009.

  In the South, existing-home sales fell 6.5 percent to an annual level of 2.01 million in June but are 11.0 percent above June 2009. The median price in the South was $163,600, unchanged from a year ago.

  Existing-home sales in the West dropped 9.3 percent to an annual pace of 1.17 million in June but are 0.9 percent higher than a year ago. The median price in the West was $221,800, up 1.5 percent from June 2009.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  NOTE: NAR also tracks monthly comparisons of existing single-family home sales and median prices for 20 select metropolitan statistical areas, which is posted with other tables at: www.realtor.org/research/research/ehsdata. For information on areas not included in the report, please contact the
  local association of Realtors®.

  ¹Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings. This differs from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which generally account for 85 to 90 percent of total home sales, are based on a much larger sample – more than 40 percent of multiple listing service data each month– and typically are not subject to large prior-month revisions. 

  The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns. 

  Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

  ²The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if more data is received than was originally reported.

  ³First-time buyer, investor and distressed sales data are from a survey for the Realtors® Confidence Index, scheduled to be posted July 30.

  ⁴Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, condos were measured quarterly while single-family sales accounted for more than 90 percent of transactions).

  ⁵Because there is a concentration of condos in high-cost metro areas, the national median condo price generally is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  

  Jim Johnson, CRS

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• July 20, 2010
• 9:16

  Bend Oregon -Vegetables – Farmers Market – Victoria’s Vegetables

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Call Victoria today for your fresh vegetables!

  There’s a big movement in the health industry and in the United States to eat organic vegetables and to buy locally.  Our society has gotten out of hand by using too many pesticides and trucking our goods hundreds of miles to point of sale.  If you live in Bend Oregon you should be getting your vegetables from Victoria’s Vegetables.

  Wally and Victoria Roth have built 3 huge green houses on their land East of Bend and are growing vegetables year round.  If you are looking for bright red tomatoes that are firm and juicy you should contact Victoria today.  I have a feeling that their produce will be spoken for before it ripens and there will be a waiting line to receive their produce.  You should get your order in now.

  Their vegetable are grown in a controlled green house environment free of pesticides.  Their vegetable are supplemented weekly with all of the trace element, mineral and micro-nutrients required by the body for optimum nutrition.

  #####

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• July 16, 2010
• 13:58

  International Buyers in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  International Interest in U.S. Home-ownership Increases, Realtors® Report

  Washington, July 07, 2010

  International home buyers are increasingly attracted to property in the U.S., according to the National Association of Realtors®’ 2010 Profile of International Home Buying Activity. Several factors, including the strength of the dollar, the value and desirability of U.S. real estate, and the emerging economic recovery, continue to drive international interest in owning a home in this country.

  “While all real estate in the U.S. is local, the same is not true for property owners,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox Real Estate in Tucson, Ariz. “The U.S. continues to be a top destination for international buyers from all over the world. Foreign buyers understand the value of owning a home in this country and can rely on Realtors® to help guide them through the complex process of buying property in the U.S. With expertise, knowledge and experience, Realtors® have a global perspective.”

  The survey, released today, covers the period between April 1, 2009, and March 31, 2010. During that time foreign buyers, including those with residency outside the U.S. as well as recent immigrants and temporary visa holders, are estimated to have purchased $66 billion of U.S. residential property, or 7 percent of the residential market.

  Slightly more than a quarter of Realtors®, 28 percent, reported working with at least one international client in the past year. This is a significant increase from the 2009 report, when 23 percent of Realtors® worked with foreign clients. Eighteen percent of all Realtors® were estimated to have completed at least one sale, compared to 12 percent last year.

  “Several factors have contributed to an increase in international buyer interest in the U.S.,” said Golder. “A large majority of Realtors® report the changes in value to the U.S. dollar have had a strong impact on the international real estate business. In addition, perceptions abroad about trends in the U.S. real estate market have led many international clients to believe purchasing a home in the U.S. is more affordable than in their country and holds more value.”

  International buyers came from 53 different countries around the world. The top four countries were Canada, Mexico, the U.K. and China/Hong Kong. With 23 percent of international buyers coming from Canada, the country has remained the largest buying group in the past three years. Foreign buyers from Mexico have been steadily increasing. In 2010 Mexico replaced the U.K. as the second largest buying group with 10 percent of buyers. Buyers from the U.K. decreased from 10.5 percent in 2009 to nine percent in 2010. Eight percent of recent buyers came from China/Hong Kong.

  Two factors important to international clients when purchasing property in the U.S. are proximity to their home country and the convenience of air transportation. Florida typically attracts European, Canadian and South American buyers while the East Coast draws Europeans. The West Coast brings Asian buyers and the Southwest attracts Mexicans.

  International buyers were reported in 39 states in 2010, but a slight majority of the total buyers are concentrated in Florida, California, Arizona and Texas. These four states account for 53 percent of purchases and have remained the top destinations for the past three years, with Florida and California remaining the top two destinations.

  The median price paid by international buyers for a home in the U.S. was $219,400, a decrease from 2009’s median price of $247,100. However, the median price paid by foreign buyers was significantly higher than the overall median market price, which was $172,500 in 2009. On average, foreign buyers tend to purchase closer to the upper end of the market; 16 percent of the total international purchases were for homes priced at more than $500,000. According to Realtors®, this was because international buyers are typically looking for a second home.

  A majority of international buyers, 66 percent, purchased single-family detached homes. However, more international buyers purchased a condo than did their U.S. counterparts, at 23 percent and 7 percent, respectively. Only 44 percent of international buyers used a mortgage to pay for their home, compared to 92 percent of domestic buyers. Fifty-five percent of foreign buyers paid all cash. Realtors® reported that a majority of international buyers use all cash because of the difficulty in establishing international credit in the U.S. Over one-third, 34 percent, of potential foreign buyers was unable to complete transactions because of financing problems in the U.S.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  Last year we sold homes to buyers from Malaysia and France.  That’ the first time in 34 years we have had foreign buyers.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• July 01, 2010
• 22:28

  Home Sales Drop as Expected

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  The following article was recently published by the National Association of Realtors.
  Pending Home Sales Drop as Expected

  WASHINGTON (July 1, 2010) – Following a surge driven by the home buyer tax credit, pending home sales fell with the expiration of the deadline for qualified buyers to sign a purchase contract, according to the National Association of Realtors®.

  The Pending Home Sales Index,* a forward-looking indicator, dropped 30.0 percent to 77.6 based on contracts signed in May from a reading of 110.9 in April, and is 15.9 percent below May 2009 when it was 92.3. The falloff comes on the heels of three strong monthly gains as home buyers rushed to take advantage of the tax credit. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

  However, many closings have been delayed recently from a rush of buyers into the system and slow processing of short sales, in addition to the heavy volume and a more thorough loan underwriting process. As many as 180,000 buyers who signed contracts by April 30 may have missed the June 30 closing deadline for the tax credit.

  However, Congress passed legislation yesterday to extend the deadline for delayed contracts and President Obama is expected to sign. NAR chief economist Lawrence Yun said, “Consumers are rational and they rushed to meet the tax credit eligibility deadline in April.

  The sharp decline in contract signings in May is a natural result with similar low levels of sales activity anticipated in June,” he said. “Surprisingly, though, some local markets such as Portland, Maine, and Jacksonville, Fla., actually experienced an increase in contract signings from a year ago without the tax credit. “Existing-home sales that close in June will remain elevated, but we’ll then see a notable decline for July and August.”

  Congress also reauthorized the National Flood Insurance Program. Many lenders were hesitant to approve mortgages on homes needing flood insurance without congressional action and numerous sales have been on hold. The action is retroactive to a temporary authorization that expired May 31, and also is expected to be signed by the president. Yun noted the tax credit has broadly stabilized home prices.

  “Without the tax credit, there will be more aggressive price negotiations between buyers and sellers. The key test on whether the housing market can stand on its own without stimulus medicine will depend critically on private sector job creation in the second half of the year. We’ll also keep a close eye on market conditions on the Gulf Coast.”

  Through May of this year 495,000 net private sector jobs have been created; NAR’s forecast for employment growth is about 1 million additional net new jobs over the balance of the year and another 2 million in 2011. “If jobs come back as expected, the pace of home sales should pick up later this year and reach a sustainable level of activity given very favorable affordability conditions,” Yun said. “In most areas of the country there will be no sharp snap back in home prices in the upcoming years, although some local markets have experienced double-digit gains this year,” Yun said.

  NAR forecasts the national median home price to rise only 4 percent cumulatively over the next two years. “One factor that could lead to price acceleration in upcoming years for some markets is if the very low levels of new home construction were to persist for another year or two,” he added.

  The PHSI in the Northeast fell 31.6 percent to 67.0 in May and is 14.8 percent lower than May 2009. In the Midwest the index dropped 32.1 percent to 70.8 and is 20.2 percent below a year ago. Pending home sales in the South fell 33.3 percent to an index of 82.5, and are 14.4 percent lower than May 2009.

  In the West the index declined 20.9 percent to 85.3 and is 15.1 percent below a year ago. The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  NOTE: References to local markets are from unpublished data. For more information, please contact the local association of Realtors®. *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing. The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months.

  There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons. An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales. Existing-home sales for June will be reported July 22 and the next Pending Home Sales Index will be on August 3; release times are 10 a.m. EDT.

  

  Jim Johnson, Principal Broker

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981. 

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• June 22, 2010
• 7:41

  The following article was just posted by ...

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  The following article was just posted by the National Association of Realtors.

  May Shows a Continued Strong Pace for Existing-Home Sales

  Washington, June 22, 2010

  Existing-home sales remained at elevated levels in May on buyer response to the tax credit, characterized by stabilizing home prices and historically low mortgage interest rates, according to the National Association of Realtors®. Gains in the West and South were offset by a decline in the Northeast; the Midwest was steady.

  Existing-home sales¹, which are completed transactions that include single-family, townhomes, condominiums and co-ops, were at a seasonally adjusted annual rate of 5.66 million units in May, down 2.2 percent from an upwardly revised surge of 5.79 million units in April. May closings are 19.2 percent above the 4.75 million-unit level in May 2009; April sales were revised to show an 8.0 percent monthly gain.

  Lawrence Yun, NAR chief economist, said he expects one more month of elevated home sales. “We are witnessing the ongoing effects of the home buyer tax credit, which we’ll also see in June real estate closings,” he said. “However, approximately 180,000 home buyers who signed a contract in good faith to receive the tax credit may not be able to finalize by the end of June due to delays in the mortgage process, particularly for short sales.

   “In addition, many potential sales are being delayed by an interruption in the National Flood Insurance Program. Florida and Louisiana, also impacted by the oil spill, have the highest percentage of homes that require flood insurance.”

  As the leading advocate for home ownership issues, NAR is supporting Senate amendments to extend the home buyer tax credit closing deadline through September 30 for contracts written by April 30, and to renew the flood insurance program. “Sales and related local economic activity would have been higher without delays in the closing process or flood insurance issues,” Yun noted.

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 4.89 percent in May from 5.10 percent in April; the rate was 4.86 percent in May 2009.

  The national median existing-home price² for all housing types was $179,600 in May, up 2.7 percent from May 2009. Distressed homes slipped to 31 percent of sales last month, compared with 33 percent in April; it was also 33 percent in May 2009.

  NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said home prices have been stabilizing all year. “With distressed sales at roughly the same level as a year ago, the gain in home prices is a hopeful sign that the market is in a good position to stand on its own without further government stimulus,” she said.

  “Very affordable mortgage interest rates and stabilizing home prices are encouraging home buyers who were on the sidelines during most of the boom and bust cycle,” Golder said.
      
  Pending home sales are expected to decline notably in May and June from the spring surge, but Yun added that job growth and a manageable level of foreclosures are keys to sales and price performance during the second half of the year.
      
  A parallel NAR practitioner survey³ shows first-time buyers purchased 46 percent of homes in May, down from 49 percent in April. Investors accounted for 14 percent of transactions in May compared with 15 percent in April; the remaining sales were to repeat buyers. All-cash sales were at 25 percent in May, edging down from a 26 percent share in April.
      
  Total housing inventory at the end of May fell 3.4 percent to 3.89 million existing homes available for sale, which represents an 8.3-month supply⁴ at the current sales pace, compared with an 8.4-month supply in April. Raw unsold inventory is 1.1 percent above a year ago, but is still 14.9 percent below the record of 4.58 million in July 2008.
      
  Single-family home sales declined 1.6 percent to a seasonally adjusted annual rate of 4.98 million in May from a pace of 5.06 million in April, but are 17.5 percent above the 4.24 million level in May 2009. The median existing single-family home price was $179,400 in May, which is 2.7 percent above a year ago.
      
  Single-family median existing-home prices were higher in 16 out of 20 metropolitan statistical areas reported in May from a year ago. In addition, existing single-family home sales rose in 18 of the 20 areas from May 2009.
      
  Existing condominium and co-op sales fell 6.8 percent to a seasonally adjusted annual rate of 680,000 in May from 730,000 in April, but are 32.6 percent above the 513,000-unit pace in May 2009. The median existing condo price⁵ was $181,300 in May, up 3.4 percent from a year ago.
      
  Regionally, existing-home sales in the Northeast fell 18.3 percent to an annual level of 890,000 in May from a surge in April, but are 12.7 percent higher than a year ago. The median price in the Northeast was $240,200, down 2.2 percent from May 2009.
      
  Existing-home sales in the Midwest were unchanged in May at a pace of 1.33 million and are 22.0 percent above May 2009. The median price in the Midwest was $150,700, up 2.2 percent from a year ago.
  In the South, existing-home sales increased 0.5 percent to an annual level of 2.15 million in May and are 22.9 percent above a year ago. The median price in the South was $159,000, up 1.0 percent from May 2009.
      
  Existing-home sales in the West rose 4.9 percent to an annual rate of 1.29 million in May and are 15.2 percent higher than May 2009. The median price in the West was $221,300, up 7.4 percent from a year ago.
      
  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  NOTE: NAR also reports monthly comparisons of existing single-family home sales and median prices for 20 select metropolitan statistical areas, which is posted with other tables at: www.realtor.org/research/research/ehsdata. For information on areas not included in the report, please contact the local association of Realtors®.

  ¹Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings. This differs from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which generally account for 85 to 90 percent of total home sales, are based on a much larger sample – more than 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.

  The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

  Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

  ²The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if more data is received than was originally reported.

  ³First-time buyer, investor and distressed sales data are from a survey for the Realtors® Confidence Index, scheduled to be posted June 30.

  ⁴Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, condos were measured quarterly while single-family sales accounted for more than 90 percent of transactions).

  ⁵Because there is a concentration of condos in high-cost metro areas, the national median condo price generally is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes.

  Existing-home sales for June will be released July 22. The next Pending Home Sales Index is scheduled for July 1; release times are 10 a.m. EDT.

  Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section. Statistical data in this release, other tables and surveys also may be found by clicking on Research.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

  

  Jim Johnson, CRS

• June 03, 2010
• 11:57

  Pending Home Sales Still Climbing

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Below is an article just released by the National Association of Realtors.  Pending sales in Bend are also increasing. 

  Pending Home Sales Surge Continuing

  Washington, June 02, 2010

  Pending home sales have risen for three consecutive months, reflecting the broad impact of the home buyer tax credit and favorable housing affordability conditions, according to the National Association of Realtors®.

  The Pending Home Sales Index,^* a forward-looking indicator, rose 6.0 percent to 110.9 based on contracts signed in April, from an upwardly revised 104.6 in March, and is 22.4 percent higher than April 2009 when it was 90.6. That follows gains of 7.1 percent in March and 8.3 percent in February.

  Pending home sales are at the highest level since last October when the index reached 112.4 and first-time buyers were rushing to beat the initial deadline for the tax credit. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

  Lawrence Yun, NAR chief economist, said this second round of surging sales from the tax credit extension looks as strong as the original tax credit. “There were concerns that only a small pool of buyers were left to take advantage of the tax credit extension.

  But evidently the tax stimulus, combined with improved consumer confidence and low mortgage interest rates, are contributing to surging sales,” he said. “The housing market has to get back on its own feet and now appears to be in a good position to return to sustainable levels even without government stimulus, provided the economy continues to add jobs.” NAR expects a net of 1 million additional jobs in the second half of this year and about 2 million in 2011.

  “The home buyer tax credit brought close to 1 million additional buyers into the market, which is now helping the trade-up market and has significantly improved the inventory situation. This stabilized home prices more quickly and has preserved about $900 billion in home equity; in turn, that is keeping additional households from going underwater and risking foreclosure,” Yun said.

  The PHSI in the Northeast jumped 29.5 percent to 97.9 in April and is 24.5 percent above a year ago. In the Midwest the index rose 4.1 percent to 104.2 and is 17.9 percent above April 2009. Pending home sales in the South slipped 0.6 percent to an index of 123.9, but is 31.3 percent higher than a year ago. In the West the index rose 7.5 percent to 107.9 and is 12.0 percent higher than April 2009.

  “A big concern surfacing recently is insufficient time to close the deal at the settlement table. Under normal circumstances, two months would be enough time from contract signing to settlement date,” Yun said. “However, the recent housing cycle has brought long delays related to the short sales approval process by banks, and from ongoing appraisal issues.

  There could be a sizable number of homebuyers who responded to tax credit incentives, but may encounter problems meeting the settlement deadline by June 30.” Because of these market challenges, NAR has asked Congress to provide flexibility on the deadline for closing.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  Existing-home sales for May will be reported June 22 and the next Pending Home Sales Index will be on July 1; release times are 10 a.m. EDT.

  Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section. Statistical data, tables and surveys also may be found by clicking on Research.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• May 28, 2010
• 17:40

  Bend Oregon Riverfront Home for Sale

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Bend Oregon Riverfront

  There’s a great  riverfront home for sale in Bend Oregon.  This rustic/lodge style home is in SW Bend and sits on the rim rock overlooking the Deschutes River.  The property line goes all the way to the river and there is a great trail along the river for fishing and hiking. 

  It’s only 10 minutes to the Old Mill District yet there’s a view of National Forest across the river. This peaceful, quiet setting has bald eagles, osprey & over 200 species of birds, plus elk, deer, beaver & otter. Walk the river with your own private staircase down to the easy walking river trail.

  

  The Old Mill District is only 10 minutes away.

  Deschutes River frontage is very rare in Bend and is just on the market.  There’s also a peek-a-boo view of Mt. Bachelor!  It’s only $599,500!!  Here’s a virtual tour: Bend Oregon Riverfront Home . 

  

  Deschutes Riverfront Home

  Here’s a LINK to all riverfront homes currently listed for sale in Bend.  This link is updated daily.

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 to see this great property.  Jim lives on the river and knows riverfront properties.  He is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  Jim for information or go to Bank Foreclosure Information or you can use our FREE MLS search.

• May 26, 2010
• 18:57

  Bend Oregon Commericial Vacancy Rates

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  The following article was just release by the National Association of Realtors.

  Commercial Real Estate Vacancies to Peak Near Early 2011

  Washington, May 26, 2010

  Vacancy rates continue to rise in most commercial sectors and are not expected to level out in most markets until the end of this year or early 2011, according to the National Association of Realtors®.

  Lawrence Yun, NAR chief economist, said there is one bright spot in commercial real estate. “The multifamily sector can expect increased demand as the economy creates jobs and new households are formed, likely in the second half of this year,” he said. “However, the office, warehouse and retail sectors continue to experience the delayed effects of the recession. These sectors should see gradual improvement after jobs pick up and create additional demand for space, meaning a broader improvement in commercial real estate is likely in 2011.”

  The Society of Industrial and Office Realtors®, in its SIOR Commercial Real Estate Index, an attitudinal survey of nearly 700 local market experts¹, confirms that significant fallout from the recession remains, but to a lesser extent.

  The SIOR index, measuring 10 variables, increased 2.7 percentage points to 38.2 in the first quarter, compared with a level of 100 that represents a balanced marketplace. This is the second gain following nearly three years of declines; the last time the market was in equilibrium was in the third quarter of 2007.

  Development activity remains at a standstill with nine out of 10 respondents saying that it is virtually nonexistent in their markets.

  Looking at the overall market, commercial vacancy rates appear to be approaching a plateau, according to NAR’s latest COMMERCIAL REAL ESTATE OUTLOOK.² The NAR forecast for four major commercial sectors analyzes quarterly data in the office, industrial, retail and multifamily markets. Historic data were provided by CBRE Econometric Advises.

  Office Market

  With an elevated level of sublease space available, vacancy rates in the office sector are projected to increase from 16.9 percent in the first quarter of this year to 17.6 percent in the first quarter of 2011, but should ease later next year.

  Annual office rent is likely to fall 2.3 percent this year and decline another 2.1 percent in 2011. In 57 markets tracked, net absorption of office space, which includes the leasing of new space coming on the market as well as space in existing properties, is forecast to be a negative 24.6 million square feet this year and then a positive 25.5 million in 2011.

  Industrial Market

  Leasing activity in the industrial sector is below historical levels with higher vacancies, more tenant concessions from landlords and a steeper decline in rental rates. In addition, obsolete structures remain on the market. Industrial vacancy rates are expected to rise from 14.3 percent in the first quarter of 2010 to 14.8 percent in the first quarter of 2011, then decline modestly as the year progresses.

  Annual industrial rent will probably drop 6.3 percent this year, and decline another 1.5 percent in 2011. Net absorption of industrial space in 58 markets tracked is seen at a negative 90.0 million square feet this year and a positive 135.6 million in 2011.

  Retail Market

  Retail vacancy rates should rise modestly from 12.6 percent in the first quarter of this year to 12.8 percent in the first quarter of 2011, and should hold at that level for most of next year.

  Average retail rent is projected to decline 1.5 percent in 2010, then edge up by 0.4 percent next year. Net absorption of retail space in 53 tracked markets is likely to be a negative 3.7 million square feet this year and then a positive 8.9 million in 2011.

  Multifamily Market

  The apartment rental market – multifamily housing – is expected to benefit from an improving economy and job market. Multifamily vacancy rates are forecast to decline from 7.3 percent in the first quarter of this year to 6.3 percent in the first quarter of 2011.

  With recent additions to supply, average rent is likely to slip 1.5 percent this year, and then rise 1.2 percent in 2011. Multifamily net absorption should be 145,700 units in 59 tracked metro areas this year, and another 214,500 in 2011.

  The COMMERCIAL REAL ESTATE OUTLOOK is published by the NAR Research Division for the commercial community. NAR’s Commercial Division, formed in 1990, provides targeted products and services to meet the needs of the commercial market and constituency within NAR.

  ###

  If you’re thinking about buying real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling real estate in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information or you can use our FREE MLS search.

  

  Jim Johnson, CRS

• May 24, 2010
• 9:22

  [nt]

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Bend Oregon Homes Sales

  WASHINGTON (May 24, 2010) – Existing-home sales rose again in April with buyers motivated by the tax credit, improving consumer confidence and favorable affordability conditions, according to the National Association of Realtors®.

  Existing-home sales¹, which are completed transactions that include single-family, townhomes, condominiums and co-ops, increased 7.6 percent to a seasonally adjusted annual rate of 5.77 million units in April from an upwardly revised 5.36 million in March, and are 22.8 percent higher than the 4.70 million-unit pace in April 2009. Monthly sales rose 7.0 percent in March.

  Lawrence Yun, NAR chief economist, said the gain was widely anticipated. “The upswing in April existing-home sales was expected because of the tax credit inducement, and no doubt there will be some temporary fallback in the months immediately after it expires, but other factors also are supporting the market,” he said. “For people who were on the sidelines, there’s been a return of buyer confidence with stabilizing home prices, an improving economy and mortgage interest rates that remain historically low.”

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 5.10 percent in April from 4.97 percent in March; the rate was 4.91 percent in April 2009.

  Total housing inventory at the end of April rose 11.5 percent to 4.04 million existing homes available for sale, which represents an 8.4-month supply² at the current sales pace, up from an 8.1-month supply in March. Raw unsold inventory is 2.7 percent above a year ago, but remains 11.6 percent below the record of 4.58 million in July 2008.

  “Although inventory levels remain above normal and much of the gain last month was seasonal, the housing price correction appears essentially over,” Yun said. “In fact, a majority of the markets have seen price gains recently. A return to old-fashioned responsible lending and buying will help the housing market avoid disruptive and painful bubble-bust cycles.”

  The national median existing-home price³ for all housing types was $173,100 in April, up 4.0 percent from April 2009. Distressed homes accounted for 33 percent of sales last month, compared with 35 percent in March.

  NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said buyer traffic is mixed. “It looks like the level of home sales that close in May and June will stay elevated, but many buyers remain in the market even without the tax credit,” she said. “Some Realtors® tell us they are very busy with clients who are entering the market now as a result of improved conditions, while others are welcoming a slowdown from frantic market conditions in recent months.

  “Buyers are focused on finding the right house and taking advantage of favorable affordability conditions. For many buyers, owning a home is a lifestyle choice. They want a place of their own to raise a family, build memories, and be part of a larger community,” Golder said.

  A parallel NAR practitioner survey⁴ shows first-time buyers purchased 49 percent of homes in April, up from 44 percent in March. Investors accounted for 15 percent of transactions in April, down from 19 percent in March; the remaining sales were to repeat buyers. All-cash sales stood at 26 percent in April; they were 27 percent in March.

  Single-family home sales rose 7.4 percent to a seasonally adjusted annual rate of 5.05 million in April from a pace of 4.70 million in March, and are 20.5 percent above the 4.19 million level in April 2009. The median existing single-family home price was $173,400 in April, up 4.5 percent from a year ago.

  Single-family median prices rose in 18 out of 20 metropolitan statistical areas reported in April from a year ago; six of the areas experienced double-digit increases. In data recently reported for the first quarter, 91 out of 152 metros saw price gains.

  Existing condominium and co-op sales jumped 9.1 percent to a seasonally adjusted annual rate of 720,000 in April from 660,000 in March, and are 42.3 percent above the 506,000-unit pace in April 2009. The median existing condo price⁵ was $171,000 in April, which is 0.6 percent below a year ago.

  Regionally, existing-home sales in the Northeast surged 21.1 percent to an annual level of 1.09 million in April and are 41.6 percent higher than a year ago. The median price in the Northeast was $243,000, up 2.1 percent from April 2009.

  Existing-home sales in the Midwest rose 9.9 percent in April to a pace of 1.33 million and are 29.1 percent above a year ago. The median price in the Midwest was $146,400, up 5.8 percent from April 2009.

  In the South, existing-home sales increased 8.6 percent to an annual level of 2.14 million in April and are 23.0 percent higher than April 2009. The median price in the South was $150,000, up 1.2 percent from a year ago.

  Existing-home sales in the West fell 6.2 percent to an annual rate of 1.21 million in April but are 5.2 percent above a year ago. The median price in the West was $212,400, up 3.8 percent from April 2009.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  NOTE: NAR also reports monthly comparisons of existing single-family home sales and median prices for 20 select metropolitan statistical areas, which is posted with other tables at: www.realtor.org/research/research/ehsdata. For information on areas not included in the report, please contact the local association of Realtors®.

  ¹Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings. This differs from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which generally account for 85 to 90 percent of total home sales, are based on a much larger sample – more than 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.

  The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

  Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

  ²Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982 (prior to 1999, condos were measured quarterly while single-family sales accounted for more than 90 percent of transactions).

  ³The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if more data is received than was originally reported.

  ⁴First-time buyer and distressed sales data are from the Realtors® Confidence Index.

  ⁵Because there is a concentration of condos in high-cost metro areas, the national median condo price generally is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or you can go to Bank Foreclosure Information  you can use our FREE MLS search.

• May 18, 2010
• 6:34

  Bend Oregon Commercial Real Estate

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Abundant Vacancies in Bend Oregon

  It’s well known that the commercial real estate market lags behind the residential real estate market.  It looks the same holds true in the Bend market.  The residential market in Bend seems to be bottoming out but the commercial troubles are just starting.  Commercial bank foreclosures are starting to show up.  The article below was just released by the National Association of Realtors.

  NAR Proposes Solutions to Congress to Combat Commercial Real Estate Crisis

  Chicago, May 17, 2010

  The commercial real estate market is experiencing its worst liquidity challenge in almost 20 years, and it is vital that Congress take action to prevent a deepening crisis, the National Association of Realtors® said in testimony to the U.S. House of Representatives Subcommittee on Oversight and Investigations today.

  During a field hearing here, G. Joseph Cosenza, an owner of Inland Real Estate Group in Oak Brook, Ill., testified on behalf of NAR and the Illinois Association of Realtors®. Cosenza said the crisis is driven by a confluence of high unemployment, a slow economy, weakening commercial property fundamentals, and an increase in commercial loan delinquencies.

  “Commercial real estate is the basis for much of the growth in the American industry and economy, and having a stable and well-functioning commercial market is crucial to our nation’s economic recovery,” Cosenza said. “But the market is now in the midst of a financial meltdown and many property owners are underwater. We cannot regain our footing until action is taken on such issues as an enhancement of liquidity and extensions of terms for performing properties.”

  Cosenza outlined a number of proposals he urged the congressional panel to consider.

  First, NAR supports changes that will boost lending to the commercial real estate and small business markets, he said. Currently, due to the slumping economy and falling commercial real estate values, many commercial banks have tightened their credit standards and reduced their loan volumes. Credit unions have often filled this need in the past, but they are hampered by a business lending cap of 12.25 percent of total assets. NAR strongly supports H.R. 3380, “Promoting Lending to America’s Small Businesses Act,” which would increase the cap on credit union lending to 25 percent of total assets.

  Cosenza also pointed out that commercial loans are often short term, and property owners must refinance frequently. “More than half of the outstanding business loans held by credit unions have been extended by those approaching, or at, the cap. That means that credit unions with experience in handling commercial loans are unable to continue helping us get out of this crisis,” Cosenza said.

  In addition, lenders should be encouraged to extend the term of current loans, he said, but they have been wary of offering extensions because of oversight and regulatory concerns.

  He said incentives and improved cash flow for investors of commercial property would help fend off some of the challenges the market faces and soften some of the commercial liquidity crisis. “The most effective means of improving the cash flow on real property is to provide more generous depreciation allowances. NAR believes that some combination of accelerated depreciation (or shorter recovery periods) and passive loss relief would be significant investor incentives,” Cosenza stated.

  NAR also supports developing a mortgage insurance program for commercial debt and an extension of the Term Asset-Backed Securities Loan Facility (TALF) program. A proposed mortgage insurance program would provide insurance on the difference between the current value of a commercial property and the debt service. NAR believes an extension of TALF will help stimulate the commercial mortgage-backed securities market and that the program requirements should be less burdensome for investors.

  “The commercial real estate sector supports more than 9 million jobs and generates billions of dollars in federal, state and local tax revenue,” said Cosenza. “NAR believes the commercial market is vital to American life and urges Congress to act quickly on these crucial issues.”

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

• May 16, 2010
• 9:43

  Mortgage Interest Rates Still Great

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Mortgage rates are still hanging around 5%.  It doesn’t get any better than this.  30 year fixed rates just hit a low for 2010 at 4.81% fixed rate.  You can also get a seller to buy down that rate to an even lower figure.  There hasn’t been a better time to buy real estate in Bend Oregon in a long time. 

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

• May 09, 2010
• 8:10

  Bend Oregon Assisted Living

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  My mother-in-law recently broke her hip.  That started our research for assisted living and retirement communities in Bend Oregon.  Assisted living is really a good way to spend the final years of our lives.  When my wife and I can’t keep up with the daily chores of cooking, cleaning and making the little repairs that come with home ownership we plan on moving into an assisted living community here in Bend.

  Bend Oregon Retirement Communities

  Bend Oregon is a great place to live!  For those who are getting along in years or those that have a parent that need assisted living Bend has over 30 options as of the date of this article. 

  

  Don't worry - Be Happy!

  For more information on Assisted Living – Retirement Communities in Bend Oregon check out our web site – LINK.

  If you’re thinking about buying or selling a home in Bend call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  I care about my clients.

• May 05, 2010
• 5:51

  Pending Home Sale Up Again

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Pending Home Sales on an Upswing

  Washington, May 04, 2010  NAR News Release

  Pending home sales increased again in March, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®.

  The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in March, rose 5.3 percent to 102.9 from 97.7 in February, and is 21.1 percent above March 2009 when it was 85.0; this follows an 8.3 percent increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

  Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lower sales,” he said. “Later in the second half of the year, and into 2011, home sales will likely become self-sustaining if the economy can add jobs at a respectable pace, and from a return of buyer demand as they see home values stabilizing.”

  The PHSI in the Northeast declined 3.3 percent to 75.1 in March but remains 27.2 percent higher than March 2009. In the Midwest the index increased 1.2 percent to 98.9 and is 18.5 percent above a year ago. Pending home sales in the South jumped 12.7 percent to an index of 121.2, which is 28.3 percent higher than March 2009. In the West the index rose 1.9 percent to 99.9 and is 8.8 percent above a year ago.

  “Another encouraging sign is the improvement in the availability for jumbo and second-home mortgages,” Yun said. “As bank balance sheets strengthen, it is just a matter of time before lending of non-government-backed mortgages steadily opens up.”

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  First quarter metropolitan area home prices and state home sales will be released May 11. Existing-home sales for April will be reported May 24 and the next Pending Home Sales Index will be on June 2; release times are 10 a.m. EDT.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information. 

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

• April 28, 2010
• 12:40

  Last Chance for Tax Credit

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  If you plan to take advantage of the first time home buyer tax credit you have until Friday to have a signed sales agreement in escrow.  It doesn’t look like there will be an extension of the credit by Uncle Sam this time but you never know.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

• April 24, 2010
• 16:24

  Pronghorn Homes for Sale

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  This is a link to all Pronghorn Homes for Sale.  This link is updated daily so it’s always current.  There are 11 Pronghorn homes for sale as of the publication of this article and three pending sales awaiting close of escrow.  There have been 9 homes sold within the last 12 months.  Of the three pending sales two are bank foreclosures and one is a short sale.

  The most expensive home sold in the last 12 months in Pronghorn went for $1,500,000.  It was originally listed for $3,500,000 over two years earlier.  That’s a $2,000,000 price reduction!There are some really good buys available in Pronghorn and other Bend Oregon golf communities right now.  Bank foreclosure and short sales are driving prices down.

  In my opinion we are seeing the bottom of the real estate market and now is the time to buy.  Interest rates are still low and there are some great bargains still available.

  If you’re thinking about buying a home in Pronghorn or another golf course community you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  

  Jim Johnson, CRS

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

• April 20, 2010
• 8:54

  Hawks Ridge Homes in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Beautiful Hawks Ridge Home

  Hawks Ridge is one of the nicest, affordable neighborhoods on Awbrey Butte.  It’s close to town yet easy access to golf at River’s Edge and close to the Redmond Airport.  The home pictured above was purchased in 2005 and has seen extensive landscaping upgrades.  It’s truly a gardener’s dream.

  It features vaulted great room with gas fireplace. The squeaky clean kitchen has maple hardwood flooring and all stainless appliances.  The spacious master has built-ins, a pocket deck, walk in closet, views of Paulina and Pilot buttes.  The back yard is private and fully fenced; with automatic sprinkler/drip system in both front and back. Landscaping includes koi pond and elaborate water feature; Trex deck and stained concrete patio. Quiet neighborhood; close to downtown.

  

  Beautiful Woodwork

  There is only one home currently for sale in Hawks Ridge.  If your lucky the home pictured above may be available soon.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

  –>

• April 15, 2010
• 8:32

  Taxes Due Today

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Don’t forget to file your taxes today or you can file an extension that’s good for six months.  Your taxes are due today whether you file your IRS 1040 or an extension.  If you need more deductions rental houses are a great investment right now and bank foreclosures are some of the best buys.  Now is the time to buy as I look for Bend Oregon real estate prices to start gradually climbing later this year or early next year.

  I specialize in helping buyers negotiate with the banks and buying bank foreclosures.  I have been a real estate broker in Bend since 1981. For  a FREE LIST OF ALL BEND OREGON BANK FORECLOSURES go to: [www2.bendoregonrealestateexpert.com] or call Jim Johnson, CRS, Principal Broker, Bend Oregon Real Estate Expert.  541-389-4511 Licensed by the State of Oregon.

• April 07, 2010
• 17:21

  Pending Homes Sales Mixed – Article by NAR

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Pending Home Sales Show Healthy Gain, Hint at Spring Surge

  Washington, April 05, 2010

  Pending home sales rose in February, potentially signaling a second surge of home sales in response to the home buyer tax credit, according to the National Association of Realtors®.

  The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in February, rose 8.2 percent to 97.6 from a downwardly revised 90.2 in January, and remains 17.3 percent above February 2009 when it was 83.2. The data reflects contracts and not closings, which usually occur with a lag time of one or two months.

  Lawrence Yun, NAR chief economist, said the improvement is another hopeful sign. “The rise in buyer contact activity may signal the early stages of a second surge of home sales this spring. The healthy gain hints home prices are continuing to flatten,” he said. “We need a second surge to meaningfully draw down inventory and definitively stabilize home values.”

  The PHSI in the Northeast rose 9.0 percent to 77.7 in February and is 18.9 percent higher than February 2009. In the Midwest the index jumped 21.8 percent to 97.9 and is 18.7 percent above a year ago. Pending home sales in the South increased 9.2 percent to an index of 107.0, and the index is 17.5 percent higher than February 2009. In the West the index fell 4.8 percent to 98.0 but is 14.6 percent above a year ago.

  “Anecdotally, we’re hearing about a rise of activity in recent weeks with ongoing reports of multiple offers in more markets, so the March data could demonstrate additional improvement from buyers responding to the tax credit,” Yun said.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

   # # #

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  Existing-home sales for March will be reported April 22 and the next Pending Home Sales Index will be on May 4; release times are 10 a.m. EDT.

  Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section.

• April 05, 2010
• 22:00

  Bend Oregon MLS Search

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Bend Oregon MLS

  Bend Oregon Real Estate Expert has just installed a new IDX/MLS search system for our clients.  We offer this as a free service with no forms to fill out and no strings attached.  This is a state of the art system that allows our clients to search the Central Oregon MLS.  It features a Basic Search, Advanced Search and a Map Search.

  The Advanced Search lets you put in criteria such as Bank Owned homes, master on the main level, single level, river front, Cascade Mountain View etc.   I’m still working with the developers to allow Short Sales to be excluded.  Most buyers are now avoiding short sales and concentrating on Bank Foreclosures or motivated sellers.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

• April 04, 2010
• 18:02

  Broken Top Homes for Sale

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Luxury Home in Broken Top

  As of the publication of this article there are 23 homes for sale at Bend Oregon’s Broken Top Golf Club community.  This does not include Town Homes or Condominiums.  Here is a link to all Broken Top Homes for Sale.  This link is updated daily so it is current with the Bend Oregon real estate market the day you read this article.  The link also includes condominiums and town homes.

  Broken Top is a gated, golf course community which has some of the nicest homes in Bend.  It includes an 18 hole golf course, lake with catch and release trout and an exquisite club house.  Many professional people live in Broken Top.  Including  young people with families and retired professionals.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

• March 29, 2010
• 18:24

  The Basics: Extended Home Buyer Tax Credit 2009/2010

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Bend Oregon Real Estate Tax Credit

  Bringing the Dream of Home-ownership Within Reach  by the National Association of REALTORS®

  • Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
  • Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.

  Here is more information about how the Extended Home Buyer Tax Credit can help prospective home buyers become part of the American dream. If you have specific questions or need additional information, please contact a tax professional or the Internal Revenue Service at 800-829-1040.
  Recent news:
  IRS Releases Revised Tax Forms, Instructions for Claiming Tax Credit (Jan. 25)
  Economists’ Podcast: Lawrence Yun Discusses Market Recovery, the Tax Credit, and Employment (Jan. 12)
  Economists’ Commentary: Existing-Home Sales and the Tax Credit (Dec. 22)

  Who Qualifies for the Extended Credit?

  • First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
  • Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

  To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

  If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see: 2009 First-Time Home Buyer Tax Credit.

  Which Properties Are Eligible?

  The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.

  How Much Is Available?

  The maximum allowable credit for first-time home buyers is $8,000.

  The maximum allowable credit for current homeowners is $6,500.

  How is a Buyer’s Credit Amount Determined?

  Each home buyer’s tax credit is determined by two additional factors:

  1. The price of the home.
  2. The buyer’s income.

  Price
  
  Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

  Buyer Income
  
  Under the Extended Home Buyer Tax Credit, which is effective on November 7, 2009,  single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.

  These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.

  If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?

  Yes, some buyers may still be eligible for the credit.

  The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.

  Can a Buyer Still Qualify If He/She Closes After April 30, 2010?

  Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.

  Will the Tax Credit Need to Be Repaid?

  No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

• March 27, 2010
• 9:31

  Awbrey Glen Bank Foreclosures

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Awbrey Glen

  Awbrey Glen bank foreclosures are few and far between.  As of the publication of this article there are no bank owned homes for sale in Awbrey Glen.  There has only been one sold in the last year and it was a good one. (See photo above)  It was exactly what most retirees are looking for – a quality single level home at a good price.  Here’s a link to all homes currently for sale in Awbrey Glen including bank foreclosures if any.  This link is updated daily and is current the day you read this article.

  Realtor remarks from listing: “Stunning home on the 9th fairway at Awbrey Glen. Vaulted ceilings in LR, DR and kitchen. French doors lead to the master suite and second bedroom with sitting room/den. Master features a soaking tub and shower. Kitchen has granite counter tops, cherry cabinetry and hardwood floors, 6-burner gas range and new dishwasher. You will love the view from the LR, master and kitchen through the pines to the golf course. Huge windows bring the outside in. Over 1400 SF of wrap-around deck for perfect outdoor living.”

  If you’re thinking about buying a home in Awbrey Glen or NW Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  You will receive an automatic e-mail the very second a home is listed that meets your requirements.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon and the Awbrey Butte area since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

  –>

• March 24, 2010
• 7:05

  Home Sales Mixed With Adverse Weather

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   February Existing-Home Sales Ease with Mixed Conditions Around the Country

  The following was just released by the National Association of Realtors®
  Washington, March 23, 2010

  Existing-home sales declined slightly in February, with modest gains in the Northeast and Midwest offset by softer sales in the South and West, according to the National Association of Realtors®.

  Existing-home sales ¹, which are finalized transactions that include single-family, townhomes, condominiums and co-ops, slipped 0.6 percent nationally to a seasonally adjusted annual rate of 5.02 million units in February from 5.05 million in January, but are 7.0 percent higher than the 4.69 million-unit pace in February 2009.

  Lawrence Yun, NAR chief economist, said widespread winter storms in February may mask underlying demand. “Some closings were simply postponed by winter storms, but buyers couldn’t get out to look at homes in some areas and that should negatively impact near-term contract activity,” he said.

  “Although sales have been higher than year-ago levels for eight straight months and home prices are much more stable compared to the past few years, the housing recovery is fragile at the moment.”

  Total housing inventory at the end of February rose 9.5 percent to 3.59 million existing homes available for sale, which represents an 8.6-month supply² at the current sales pace, up from a 7.8-month supply in January. Raw unsold inventory is 5.5 percent below a year ago.

  “The key test for a durable recovery comes in the next few months as the tax credit deadline approaches,” Yun said. “If we see a surge in home buying comparable to last fall in the months leading up to the original tax credit deadline, then enough inventory should be absorbed to ensure a broad home price stabilization.”

  The national median existing-home price³ for all housing types was $165,100 in February, which is 1.8 percent below February 2009. Distressed homes, generally sold at discount, accounted for 35 percent of sales last month.

  A parallel NAR practitioner survey⁴ shows first-time buyers purchased 42 percent of homes in February, up from 40 percent in January. Investors accounted for 19 percent of transactions in February, compared with 17 percent in January; the remaining sales were to repeat buyers.

  NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said some buyers are just beginning to realize the urgency of acting before the contract deadline for the tax credit. “If home buyers want this tax credit there is literally no time to waste,” she said.

  “Most buyers spend several months looking at a dozen homes before they make a contract offer, but less than six weeks are left before the April 30 contract deadline. If you’re sure about the kind of home you want and the neighborhood where you’d like to live, you need to begin working with a Realtor® now to help you find what you want, negotiate on your behalf and ensure that you meet the necessary deadlines, including loan qualification,” Golder said.

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage dipped to 4.99 percent in February from 5.03 percent in January; the rate was 5.13 percent in February 2009.

  Single-family home sales declined 1.4 percent to a seasonally adjusted annual rate of 4.37 million in February from a pace of 4.43 million in January, but are 4.3 percent higher than the 4.19 million level a year ago. The median existing single-family home price was $164,300 in February, down 2.1 percent from February 2009.

  Existing condominium and co-op sales rose 4.8 percent to a seasonally adjusted annual rate of 650,000 in February from 620,000 in January, and are 30.3 percent above the 499,000-unit pace in February 2009. The median existing condo price⁵ was $170,200 in February, down 0.2 percent from a year ago.

  Regionally, existing-home sales in the Northeast rose 2.4 percent to an annual pace of 840,000 in February and are 12.0 percent above a year ago. The median price in the Northeast was $254,700, up 7.5 percent from February 2009.

  Existing-home sales in the Midwest increased 2.8 percent in February to a level of 1.11 million and are 8.8 percent higher than February 2009. The median price in the Midwest was $128,000, which is 2.0 percent below a year ago.

  In the South, existing-home sales slipped 1.1 percent to an annual pace of 1.85 million in February but are 6.9 percent above a year ago. The median price in the South was $139,600, down 4.2 percent from February 2009.

  Existing-home sales in the West fell 4.7 percent to an annual rate of 1.22 million in February but are 3.4 percent higher than February 2009. The median price in the West was $207,900, down 9.8 percent from a year ago.

  “A lack of affordable housing inventory is holding back sales and pressuring prices to be bid upwards in many California markets,” Yun noted.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

• March 22, 2010
• 7:08

  Free MLS Search For Awbrey Butte Homes

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Bend Oregon MLS

  If you are looking for a home on Awbrey Butte or any other Bend Oregon real estate you can search the Central Oregon Multiply listing service from our web site.  There are no forms to fill out and no questions asked. FREE MLS Search  Feel free to contact us with any questions.  Click on the preceding link then under subdivision highlight Awbrey Butte.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

• March 20, 2010
• 7:13

  Bend Oregon Real Estate Market Top 10 in Nation

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  

  Bend Oregon Real Estate

  According to CNN’s Money Magazine, Bend Oregon is one of the top 10 cities in the Nation for real estate appreciation in 2010.  It predicted Bend’s home prices will appreciate 3.3%.  “A modest gain is projected for 2010, banking on the area’s attractions to lure in enough new buyers, especially retirees, for prices to stabilize.”

  There are some very attractive prices on quality homes including bank foreclosures right now.  We are seeing a good number of retirees looking at single level homes in some of Bend’s best neighborhoods.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend or you can use our FREE MLS search.

• March 18, 2010
• 8:33

  Bend Real Esate – A Changing Market

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Jim Johnson, CRS

  I was just looking at some old posts in our Bend Oregon real estate blog and found the following:

  “There are currently 89 houses listed for sale in the Bend Oregon MLS that are under $250,000.  I’ve always felt the best rental houses are 3 bedrooms and 2 baths with a double car garage.  A newer house is preferable because of future repairs.  The 89 houses for sale in Bend meet this criteria and some have 2.5 baths and 4 bedrooms and were built in 2000 or later.  This includes bank repos and short sales.”

  My, my how things change.  That was in September 2008.  There are now 445 three bedroom (or more), two bath (or more) homes for sale in Bend including short sales and bank foreclosures built in 2000 or later.  Inventories are going down but will probably pick up a little this spring as more used homes come on the market.

  It is always easy to buy stocks or real estate when the market is rising quickly.  It takes a little insight and guts to buy when the market is near the bottom.  I do believe we are currently hitting the bottom of the Bend Oregon real estate market.  2010 is the time to buy.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. 

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information. 

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

• March 17, 2010
• 7:39

  Bend Oregon Short Sales Increasing

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Bend Oregon Short Sales

  Short sales in Bend Oregon increased over 300 percent over the last 30 days as compared to last year.  Short sales still can’t compare to bank foreclosures.  If you are a buyer you should be looking for bank foreclosures and not short sales.  Link to Bend Oregon Bank Foreclosures. This link is updated every day and is current the day you read this article.

  Short sales can be tied up with the lender for months.  Where as a bank foreclosure is owned by the bank not a third party.  The bank owned homes need to be sold so the banks can get the “assets” off their books.

  Short sales average over 7 months to close where as bank foreclosures are taking less than two months.  All bank owned homes end up being sold where as a substantial percentage of short sales will never close escrow but come back on the market as a foreclosure at a better price.

  There was a riverfront home that had an offer for over $400,000 as a short sale.  The bank diddled around for over 4 months and finally declined the sale.  So the buyer wasted 4 months and didn’t get the home.  That same home is now on the market as a bank foreclosure for $337,000!

  So why would a buyer mess around with a short when they can buy a bank foreclosure at a better price in a shorter period of time and be assured of a purchase when the bank signs the sales agreement.  My advice is avoid short sales and look at the Bend Oregon bank foreclosures.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend. 

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   
  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

• March 14, 2010
• 21:00

  Bend Oregon Real Estate Break

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  A day away from real estate!

  After showing bank foreclosed townhouses today I’ve decided to take a day off and go fishing tomorrow.  It’s supposed to be 63 degrees which is 10 degrees above average for this time of year.  That’s one of the many benefits of living in Bend.  Bull Trout like the one above are less than an hour away.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

• March 11, 2010
• 18:16

  Awbrey Butte Bank Foreclosures

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Awbrey Butte Bank Foreclosure

  Awbrey Butte bank foreclosures represent some of the best buys happening in the Bend Oregon real estate market right now.  There have been 9 bank owned homes sold on Awbrey Butte in the last 12 months.  Here’s a link to all homes currently for sale on Awbrey Butte.  This list is updated daily and includes bank foreclosures.

  There’s currently one  Awbrey Butte bank foreclosure for sale.  The list price is $659,900.  It has views and 5,190 square feet.  That’s $127.15 a square foot.  You could not replace this home for less that $750,000 and that does not include the lot!

  Two or three years ago many of these homes would have sold for well over $1,000,000.  They are rare bargains which won’t last forever.  I look for more luxury foreclosures to come on the market this year.

  If you’re thinking about buying a home on Awbrey Butte you should sign up for Jim’s free New Listing Notification Service today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

• March 08, 2010
• 11:31

  Bend Oregon Home Buyers Beware

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Bend Oregon buyers should be aware that inventories of homes for sale in Bend are down substantially.  The graph below is self explanatory.  It shows inventories are way down.  Sales and pending sales are headed up.  Pending sales have more than doubled in the past year.

  

  Bend Oregon Home Sales

  Many of the pending sales are bank foreclosures.  There are some really good buys out their right now.  We are seeing some amazing buys out there.  I just showed a house in Broken Top, one of Bend’s most prestigious neighborhoods.  It was listed for $475,000  and had sold for $960,000 in 2006.  It’s value could have been over $1,000,000 at the peak in 2007.

  So the bottom line is most homes are now selling at half the price they were at the peak of the market.  More and more buyers are snatching up the good buys and inventories are down.  I think we are hitting the bottom of the market right now.  I think it will be a flat recovery but now is definitely the time to buy!

  

  Falling Home Inventory

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

• March 04, 2010
• 6:48

  Bend Oregon Bank Foreclosures Are Selling Like Hot Cakes

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Bank Foreclosure Sales Shatter Records At Bend Oregon Real Estate Expert

  Local real estate firm, Bend Oregon Real Estate Expert, is shattering sales records by selling bank foreclosures. Father and son real estate team specializes in the sale of bank foreclosures and sales are booming.

  Bend, OR (PRWEB) March 4, 2010 — Buyers from France, Malaysia, Alaska, Hawaii, Texas, California, Washington, Oregon and all over the world are buying Bend Oregon real estate. A local real estate firm, Bend Oregon Real Estate Expert, is shattering their previous sales records with over 50% of their sales attributed to bank foreclosures. Company sales were up 220% on a year to year comparison.

  Bend Oregon Real Estate

  These sales occurred in most price ranges. The highest being a new 4,000 square foot home in one of Bend’s most up-scale neighborhoods that sold for $690,000. The least expensive bank owned home was a 1,400 square foot home with 3 bedrooms and 2 baths that sold for $125,000. “Bank foreclosures are selling like hotcakes in Bend Oregon” said Jim Johnson Principal Broker.

  “Bank foreclosures are selling like hotcakes in Bend Oregon”

  The father and son team of Jim and Matt Johnson have relied on Internet marketing to find and inform buyers from all over the world about their specialty of representing buyers in obtaining bank owned homes in Bend.

  A buyer first signs up for the company’s “New Listing Notification Service.” They determine the criteria of the property they are looking for including, maximum price, square footage, bedrooms, baths, lot size etc.

  They are then provided a link to their own web site called a “Client Portal”. All listings that fit their parameters are loaded into their client portal. Then any new listings or price reductions that fit their requirements are put in their client portal and an e-mail notifies the client the minute a property hits the market.

  Buyers can then save or delete the listings in their portal. All listings include color pictures and full details about the property including the amount of annual taxes. The Bend Oregon Real Estate Expert brokers have access to the client portals and can determine exactly what their clients are looking for.

  Bank foreclosures that are well priced are selling within the first 30 days they are on the market. Most banks won’t consider an offer for the first 5 days of the listing because multiple offers are common. One luxury home in an exclusive golf course community had six offers in the first few days it was on the market. This home was listed for $474,900 and sold in 2006 for $960,000.

  Bend Oregon bank foreclosures are selling for approximately half of what they sold for in 2006 and 2007. “There’s going to be a lot of money made this year by smart buyers who buy in Bend” said Matt Johnson, Jim’s son and partner. “It looks like there will be a good choice of homes coming on the market for the next several months.”

  About Bend Oregon Real Estate Expert
  Matt and Jim Johnson are a father and son team who moved to Bend in 1981 when Matt was two years old. This is their 6th year as partners and Jim has been selling residential real estate for 34 years. They specialize in helping buyers obtain bank foreclosures. For more information on bank foreclosures or Bend Real Oregon Estate, buyers can read their Bend Oregon Real Estate Blog or call 541-389-4511.

  ###

  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

  –>

• February 27, 2010
• 8:37

  Home Sales Starting Slow in 2010

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Existing-Home Sales Down in January, Higher Than a Year Ago

  This Article was recently released by the National Association of Realtors.

  Washington, February 26, 2010

  Existing-home sales fell in January but are above year-ago levels, according to the National Association of Realtors®.

  Existing-home sales – including single-family, townhomes, condominiums and co-ops – dropped 7.2 percent to a seasonally adjusted annual rate¹ of 5.05 million units in January from a revised 5.44 million in December, but remain 11.5 percent above the 4.53 million-unit level in January 2009.

  Lawrence Yun, NAR chief economist, said there is still some delay between shopping and closing that affected current sales. “Most of the completed deals in January were based on contracts in November and December. People who got into the market after the home buyer tax credit was extended in November have only recently started to offer contracts, so it will take a couple months to close those sales,” he said. “Still, the latest monthly sales decline is not encouraging, and raises concern about the strength of a recovery.”

  Total housing inventory at the end of January fell 0.5 percent to 3.27 million existing homes available for sale, which represents a 7.8-month supply² at the current sales pace, up from a 7.2-month supply in December. Raw unsold inventory is 9.6 percent below a year ago, and is at the lowest level since March 2006.

  “Activity should be picking up strongly in late spring as buyers take advantage of the tax credit, which is critical to absorb distressed properties reaching the market and to continually chip away at inventory,” Yun said. “With a downtrend in the number of homes on the market, especially in the lower price ranges, values are beginning to firm but with great variance around the country.”

  The national median existing-home price³ for all housing types was $164,700 in January, unchanged from a year earlier. Distressed homes, which accounted for 38 percent of sales last month, continue to downwardly distort the median price because they typically are discounted in comparison with traditional homes in the same area.

  A parallel NAR practitioner survey⁴ shows first-time buyers purchased 40 percent of homes in January, down from 43 percent in December. Investors accounted for 17 percent of transactions in January, up from 15 percent in December; the remaining sales were to repeat buyers. The survey also shows that buyer traffic increased 9.4 percent in January.

  NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said buying a home in the current environment has become more challenging. “First-time buyers and others who need a mortgage are increasingly losing out to all-cash investors for the best bargains in many areas, particularly for foreclosed homes where cash is king,” she said.

  “Inventory conditions vary by price range, and of course there are major differences depending on location. Realtors® are the best buyer resource for strategies on winning bids in increasingly competitive markets,” Golder said. “The bidding for more desirable homes will only accelerate between now and the April 30 contract deadline to qualify for a tax credit of up to $8,000.”

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage edged up to 5.03 percent in January from 4.93 percent in December; the rate was 5.05 percent in January 2009.

  Single-family home sales fell 6.9 percent to a seasonally adjusted annual rate of 4.43 million in January from a level of 4.76 million in December, but are 8.6 percent above the 4.08 million pace in January 2009. The median existing single-family home price was $163,600 in January, down 0.4 percent from a year ago.

  Existing condominium and co-op sales dropped 8.1 percent to a seasonally adjusted annual rate of 620,000 in January from 675,000 in December, but are 38.1 percent above the 449,000-unit level a year ago. The median existing condo price⁵ was $172,400 in January, which is 1.4 percent higher than January 2009.

  Regionally, existing-home sales in the Northeast fell 10.9 percent to an annual pace of 820,000 in January but are 22.4 percent above a year ago. The median price in the Northeast was $245,300, a gain of 8.8 percent from January 2009.

  Existing-home sales in the Midwest declined 6.9 percent in January to a level of 1.08 million but are 8.0 percent higher than January 2009. The median price in the Midwest was $130,300, which is 1.0 percent below a year ago.

  In the South, existing-home sales dropped 7.4 percent to an annual pace of 1.87 million in January but are 12.0 percent above a year ago. The median price in the South was $140,200, down 2.0 percent from January 2009.

  Existing-home sales in the West declined 5.2 percent to an annual rate of 1.28 million in January but are 7.6 percent higher than January 2009. The median price in the West was $203,400, down 5.8 percent from a year ago.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

• February 23, 2010
• 14:11

  Bend Oregon Bank Foreclosures in 2010

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Bend Oregon Bank Foreclosures

  Bend Oregon Bank Foreclosures – It looks like 2010 is going the be the best time to buy a bank foreclosure in Bend Oregon.  After spending the month of January in Arizona with my wife in our motor home it’s back to selling homes in Bend. 

  Last year I wrote an article in March stating that there were 105 bank owned homes for sale in Bend with 58 pending sales and 50 closed sales in the past 60 days.  For the same period this year there have been 97 foreclosure sales closed.  That’s almost a 100% increase in the number of sales.

  Pending sales over the same 60 day period from last year has more than doubled.  Last year there were……………..Enough statistics!!  The fact is bank foreclosure sales have doubled in the last year and inventories are down!  Some of the best buys on the market are bank foreclosures.

  After vacation in January it’s back to work selling real estate in Bend.  I closed one bank foreclosure while I was gone and have put two sales (foreclosures) in escrow thus far in February.  All three of these sales had multiple offers and two of them sold for more than full price!

  There was a new bank owned listing that hit the market last week in one of our most up-scaled areas (Awbrey Butte).  There were 4 offers in the first two days on the market and I don’t know how many offers there were before it sold.  Bank foreclosures are selling quickly and for close to the list price.

  That’s not to say all listings are selling in the first week.  Some of the lenders price their homes too high and they will sit there until they lower the price where it will attract buyers.  The average sales price for the homes sold in the last 60 days was 98.92% of the current list price.  Some sold for more than full price and some sold for less.

  All three of my sales were all cash with no lender involved.  I’m personally going to be buying another investment property if the right one comes along.  This looks like the year to be buying bank foreclosures in Bend.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. 

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information. 

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend. 

• February 20, 2010
• 16:57

  Sunriver Real Estate

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Sunriver is a great place to live!

  Nestled next to the Deschutes River on 3,300 acres of pristine high desert, lush meadows and beautiful pine forests, Sunriver, Oregon, is the premier Northwest destination for vacationers, golfers, and outdoor enthusiasts of all ages.

  The Cascade Mountains are to the west and the Newberry Volcanic National Monument to the east, Sunriver boasts an exciting array of world class amenities such as golf, tennis, swimming, horseback riding, kayaking, canoeing, white water rafting, fly fishing, biking, hiking, bird watching, spa and fitness centers, music and art festivals, and a variety of restaurants from fine dining to casual.

  Sunriver is located in central Deschutes County, approximately 15 miles south of the Bend city limits. It lies in the Upper Deschutes River Basin at approximately 4,200 feet elevation, with the Deschutes River forming the western boundary of the 3,300 acre community. The Deschutes National Forest surrounds Sunriver on the north, east and west.

  There are approximately 4,700 residences and lodging units in Sunriver and about 1,500 residents call Sunriver home on a full-time basis. About 50% of non-resident owners live in Oregon, 13% in Washington and 12% in California. The average age of resident homeowners is 66 years for men and 64 for women.

  If you’re thinking about buying a home in Sunriver you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Central Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Sunriver Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

• 7:47

  Mortgage Delinquencies Decline

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  

  Bend Oregon Bank Foreclosure Expert

  The following article was recently released by the Mortgage Brokers Association.  This is just another sign that we are approaching the bottom of the real estate market in Bend Oregon.

  Delinquencies, Foreclosure Starts Fall in Latest MBA National Delinquency Survey

  WASHINGTON, D.C. (February 19, 2010) — The delinquency rate for mortgage loans on one-to-four-unit residential properties fell to a seasonally adjusted rate of 9.47 percent of all loans outstanding as of the end of the fourth quarter of 2009, down 17 basis points from the third quarter of 2009, and up 159 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey. The non-seasonally adjusted delinquency rate increased 50 basis points from 9.94 percent in the third quarter of 2009 to 10.44 percent this quarter.

  The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure.  The percentage of loans in the foreclosure process at the end of the fourth quarter was 4.58 percent, an increase of 11 basis points from the third quarter of 2009 and 128 basis points from one year ago. The combined percentage of loans in foreclosure or at least one payment past due was 15.02 percent on a non-seasonally adjusted basis, the highest ever recorded in the MBA delinquency survey.

  The percentage of loans on which foreclosure actions were started during the fourth quarter was 1.20 percent, down 22 basis points from last quarter and up 12 basis points from one year ago.

  The percentages of loans 90 days or more past due and loans in foreclosure set new record highs.  The percentage of loans 30 days past due is still below the record set in the second quarter of 1985. 

  Beginning of the End?

  “We are likely seeing the beginning of the end of the unprecedented wave of mortgage delinquencies and foreclosures that started with the sub-prime defaults in early 2007, continued with the meltdown of the California and Florida housing markets due to overbuilding and the weak loan underwriting that supported that overbuilding, and culminated with a recession that saw 8.5 million people lose their jobs,” said Jay Brinkmann, MBA’s chief economist.

  “The continued and sizable drop in the 30-day delinquency rate is a concrete sign that the end may be in sight.  We normally see a large spike in short-term mortgage delinquencies at the end of the year due to heating bills, Christmas expenditures and other seasonal factors.  Not only did we not see that spike but the 30-day delinquencies actually fell by 16 basis points from 3.79 percent to 3.63 percent.  Only three times before in the history of the MBA survey has the non-seasonally adjusted 30-day delinquency rate dropped between the third and fourth quarter and never by this magnitude.  If the normal seasonal patterns hold for the first quarter, we should see an even steeper drop in the end of March data.

  “This drop is important because 30-day delinquencies have historically been a leading indicator of serious delinquencies and foreclosures.  With fewer new loans going bad, the pool of seriously delinquent loans and foreclosures will eventually begin to shrink once the rate at which these problems are resolved exceeds the rate at which new problems come in.  It also gives us growing confidence that the size of the problem now is about as bad as it will get.

  “The other apparent good sign is a drop in the rate of new foreclosures started.  This drop may be temporary, however, because we continue to see large increases in loans 90 days or more past due.
   
  “Typically, 30-day delinquencies account for the largest share of all delinquencies.  That is no longer the case.  Loans 90 days or more past due now account for half of all delinquencies, the highest share in the history of the MBA survey and double the share only two years ago.  If we include loans already in foreclosure in those totals, seriously delinquent loans are now 64 percent of all non-current loans. 

  “Despite the drop in short-term delinquencies, foreclosure rates could continue to climb, however, based on the ability of borrowers 90 days or more delinquent to solve their problems.  A sizable number of the loans in the 90+ day delinquent bucket are in loan modification programs.  They are carried as delinquent until borrowers demonstrate they will make the payments agreed to in the plans. 

  “Florida continues to be the worst state in terms of delinquencies with 26 percent of Florida mortgages one payment or more past due as of December 31st.  20.4 percent of Florida mortgages are 90 days or more past due or already in the process of foreclosure.  Nevada is the second worst state with 24.7 percent of its mortgages one payment or more past due and 19 percent 90 days or more past due or in foreclosure.

  “The pattern of mortgage delinquencies now very much follows the pattern of unemployment.  Just as short-term delinquencies have fallen during the latter part of 2009, first-time claims for unemployment insurance have declined by about a third since their peak in March 2009.  Just as long-term delinquencies now dominate total mortgage delinquencies, long-term unemployment now dominates the total unemployment number.  People who have been unemployed for six months or more now constitute over 40 percent of the total unemployed, the highest share in the history of the unemployment survey.  In addition, over the last several months we have seen a large number of people simply drop out of the work force, many who are discouraged about being able to find work.  Until the issue of this large segment of long-term unemployed is resolved, many of the longer-term mortgage delinquencies will remain a problem with a strong likelihood of turning into foreclosures,” Brinkmann said.
  Change from last quarter (third quarter of 2009)

  The delinquency rate decreased 11 basis points for prime loans (from 6.84 percent to 6.73 percent), 116 basis points for sub-prime loans (from 26.42 percent to 25.26 percent), 79 basis points for FHA loans (from 14.36 percent to 13.57 percent), and 67 basis points for VA loans (from 8.08 percent to 7.41 percent).

  The non-seasonally adjusted percentage of loans in the foreclosure process increased 11 basis points for prime loans (from 3.20 percent to 3.31 percent), and increased 23 basis points for sub-prime loans (from 15.35 percent to 15.58 percent). FHA loans saw a 25 basis point increase in the percent of loans in foreclosure (from 3.32 percent to 3.57 percent), while the rate for VA loans increased 17 basis points (from 2.29 percent to 2.46 percent).

  The non-seasonally adjusted foreclosure starts rate in the fourth quarter was 1.20 percent, a decrease of 22 basis points from the third quarter of 2009 rate of 1.42 percent. By loan type, the foreclosure starts rate decreased 28 basis points for prime loans (from 1.14 percent to 0.86 percent), 10 basis points for sub-prime loans (from 3.76 percent to 3.66 percent), three basis points for FHA loans (from 1.31 percent to 1.28 percent), and six basis points for VA loans (from 0.87 percent to 0.81 percent).

  The seriously delinquent rate, the non-seasonally adjusted percentage of loans that are 90 days or more delinquent, or in the process of foreclosure, was up from both last quarter and from last year. This measure is designed to account for inter-company differences on when a loan enters the foreclosure process.

  Compared with last quarter, the non-seasonally adjusted seriously delinquent rate increased for all loan types. The rate increased 75 basis points for prime loans (from 6.26 percent to 7.01 percent), 188 basis points for sub-prime loans (from 28.68 percent to 30.56 percent), 75 basis points for FHA loans (from 8.67 percent to 9.42 percent), and 36 basis points for VA loans (from 5.06 percent to 5.42 percent).

  Change from last year (fourth quarter of 2008)

  The seasonally adjusted delinquency rate increased 167 basis points for prime loans and 338 basis points for sub-prime loans, but decreased 16 basis points for FHA loans and 11 basis points for VA loans.

  The percent of loans that were in the foreclosure process increased 143 basis points for prime loans, 187 basis points for sub-prime loans, 114 basis points for FHA loans, and 80 basis points for VA loans.

  The foreclosure starts rate increased 12 basis points overall, 18 basis points for prime loans, 33 basis points for FHA loans, and 16 basis points for VA loans. The starts rate decreased 30 basis points for sub-prime loans.

  The seriously delinquent rate increased 327 basis points for prime loans, 745 basis points for sub-prime loans, 244 basis points for FHA loans, and 130 basis points for VA loans.
  If you are a member of the media and would like a copy of the survey, please contact Carolyn Kemp at ckemp@mortgagebankers.org or Melissa Key at mkey@mortgagebankers.org. If you are not a member of the media and would like to purchase the survey, please call (800) 348-8653.

  ###

  The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand home ownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,400 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site:  www.mortgagebankers.org.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

• February 19, 2010
• 13:57

  Bend Oregon Real Estate – RV Barn and Home For Sale

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Sits on 5 acres!

  If you are looking for a little acreage, a home and an RV barn in Bend Oregon here is a great buy! This is a bank foreclosure and the bank must sell!  Private country retreat located on 5 acres! Featuring 3 bedrooms, 2.5 baths, living room, spacious dining area, family room and laundry room. Separate 36×48 garage/shop for all your toys! Interior needs work.

  

  Bend Oregon RV Barn

  Those of us who own RVs whether it’s motor homes, fifth wheels, boats and snow mobiles recognize the importance of keeping our valuable equipment inside and out of the elements.  This property is a bank foreclosure and probably won’t last long but there are other good buys out there.  The replacement cost of this RV barn is around $50,000.  The bank is only asking $249,900 for this great property.

  

  Sheet rocked and insulted!

  If you are looking at buying a bank foreclosure or property with an RV Barn give me a call.  I specialize in helping buyers negotiate and buy bank foreclosures.  I also have a 40 foot motor home which I keep garaged to protect my investment.  I have been a real estate broker in Bend since 1981. 

  For more information on this Bank Foreclosure and a FREE LIST OF BEND OREGON BANK FORECLOSURES go to [www.bendoregonrealestateexpert.com] or call Jim Johnson, CRS, Principal Broker, Bend Oregon Real Estate Expert.  541-389-4511 Licensed by the State of Oregon.

  –>

• February 13, 2010
• 10:25

  Bend Oregon Short Sales

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Short sales in Bend Oregon seem to be evolving.  Short sales were a new thing a few years ago.  At that time they were a virtual can of worms.  The lenders didn’t really know what they were doing and they were under staffed with inexperience people.  Most short sales took months to close and there were many that never did close.  The properties ended up being foreclosed on.

  Things seem to be gradually changing.  Most of the lenders are a little easier to work with now.  Plus there are more and more agents that are only accepting one offer that they present to the bank.  As a real estate broker with 34 years experience I’m not a big fan of short sales.  It wasn’t too long ago that I wouldn’t touch a short sale.  But, under some circumstances a short sale can be a viable alternative in today’s market.

  If you are interested in discussing short sale feel free to contact Jim.  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. 

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend. 

  

  Jim Johnson, Principal Broker

   Below is information from the National Association of Realtors on Short Sales.

  Navigating Short Sales: What to Do When the Sale Price Leaves You Short

  If you’re thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won’t cover your total mortgage obligation and closing costs, and you don’t have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it. 

  1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as: 

  • Refinancing your loan at a lower interest rate
  • Providing a different payment plan to help you get caught up
  • Providing a forbearance period if your situation is temporary 

  When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if 

  • Your property is worth less than the total mortgage you owe on it.
  • You have a financial hardship, such as a job loss or major medical bills.
  • You have contacted your lender and it is willing to entertain a short sale. 

  2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional* and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won’t try to take advantage of your situation or pressure you to do something that isn’t in your best interest. 

  A qualified real estate professional can: 

  • Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
  • Help you set an appropriate listing price for your home, market the home, and get it sold.
  • Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
  • Ease the process of working with your lender or lenders.
  • Negotiate the contract with the buyers.
  • Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.  

  3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include 

  • A hardship letter detailing your financial situation and why you need the short sale
  • A copy of the purchase contract and listing agreement
  • Proof of your income and assets
  • Copies of your federal income tax returns for the past two years 

  4. Prepare buyers for a lengthy waiting period. Even if you’re well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say: 

  • If you have only one mortgage, the review can take about two months.
  • With a first and second mortgage with the same lender, the review can take about three months.
  • With two or more mortgages with different lenders, it can take four months or longer.  

  When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender’s loss mitigation department on your behalf to prepare the proper documentation and speed the process along.) 

  5. Don’t expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind: 

  • You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can’t pay back the balance, talk with your real estate attorney about your options.
     
  • Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.
     
  • Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.

   

  Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA. 

   

• February 11, 2010
• 14:15

  Existing-home Sales in the West Jump 16.2 percent

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Bend Oregon Home Sales Rising

  The National Association of Realtors just released the following article.  Now is the time to buy a home in Bend Oregon.

  Fourth Quarter Existing-Home Sales Surge in Most States,
  Prices Up in More Areas

  WASHINGTON , February 11, 2010

  Strong gains in existing-home sales were the predominant pattern in most states during the fourth quarter, with many more metro areas seeing prices rise from a year earlier, according to the latest survey by the National Association of Realtors ® .

  Sales increased from the third quarter in 48 states and the District of Columbia; 32 states saw double-digit gains. Year-over-year sales were higher in 49 states and D.C.; all but three states had double-digit annual increases.

  Total state existing-home sales, including single-family and condo, jumped 13.9 percent to a seasonally adjusted annual rate ¹ of 6.03 million in the fourth quarter from 5.29 million in the third quarter, and are 27.2 percent above the 4.74 million-unit level in the fourth quarter of 2008. Distressed property accounted for 32 percent of fourth quarter transactions, down from 37 percent a year earlier.

  Lawrence Yun , NAR chief economist, said the first-time home buyer tax credit was the dominant factor. “The surge in home sales was driven by buyers responding strongly to the tax credit combined with record low mortgage interest rates,” he said. “With inventory levels trending down over the past 18 months, we expect broadly balanced housing market conditions in much of the country by late spring with more areas showing higher prices.”

  According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage fell to a record low 4.92 percent in the fourth quarter from 5.16 percent in the third quarter; it was 5.86 percent in the fourth quarter of 2008.

  In the fourth quarter, 67 out of 151 metropolitan statistical areas ² reported higher median existing single-family home prices in comparison with the fourth quarter of 2008, including 16 with double-digit increases; one was unchanged and 84 metros had price declines. In the third quarter only 30 MSAs showed annual price increases and 123 areas were down.

  The national median existing single-family price was $172,900, which is 4.1 percent below the fourth quarter of 2008; the median is where half sold for more and half sold for less. “This is the smallest price decline in over two years, with the most recent monthly data showing a broad stabilization in home prices,” Yun said.

  “Because buyers are taking on long-term fixed rate mortgages, avoiding adjustable-rate products, and trying to stay well within their budgets, the price recovery process appears durable,” Yun said.

  NAR President Vicki Cox Golder , owner of Vicki L. Cox & Associates in Tucson, Ariz., said near-term market conditions will remain favorable. “Mortgage interest rates are expected to trend up later this year, but right now we have very good conditions with steadying home prices and favorable inventory in most areas, especially in the higher price ranges,” she said.

  “The biggest issue is for repeat buyers, who will have to accelerate their buying plans if they want the expanded tax credit. Since you must have a contract in place by the end of April, the best advice is to consult a Realtor ® now about qualification criteria and options in your area,” Golder said.

  Repeat buyers do not have to sell their existing home, but all buyers must occupy the property they purchase as a primary residence to qualify for the tax credit. Buyers who have a contract in place by April 30, 2010, have until June 30, 2010, to finalize the transaction to get a credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.

  In the condo sector, metro area condominium and cooperative prices – covering changes in 54 metro areas – showed the national median existing-condo price was $177,300 in the fourth quarter, down 4.8 percent from the fourth quarter of 2008. Eleven metros showed increases in the median condo price from a year earlier and 43 areas had declines; in the third quarter only four metros experienced annual price gains.

  Regionally, existing-home sales in the Northeast rose 11.1 percent in the fourth quarter to a pace of 1.03 million and are 33.6 percent higher than a year ago. The median existing single-family home price in the Northeast declined 5.6 percent to $234,900 in the fourth quarter from the same quarter in 2008, but with widely varying conditions.

  “In the Northeast, markets with lower median prices that have avoided wide swings, such as Buffalo, are generally showing consistent price gains,” Yun said. “Even so, some of the higher cost areas are showing signs of stabilization, such as Nassau-Suffolk, N.Y., and Boston.”

  In the Midwest, existing-home sales jumped 14.5 percent in the fourth quarter to a pace of 1.38 million and are 29.9 percent above a year ago. The median existing single-family home price in the Midwest rose 1.1 percent to $141,100 in the fourth quarter from the same period in 2008, with the region accounting for the majority of metro areas experiencing double-digit gains.

  Yun said markets with high unemployment rates in Ohio and Michigan experienced large price swings. “Big price gains in many Midwestern areas are due to a more normal range of home sales in contrast with predominately foreclosed sales a year ago,” he said.

  In the South, existing-home sales rose 13.8 percent in the fourth quarter to an annual rate of 2.23 million and are 28.2 percent higher than the fourth quarter of 2008. The median existing single-family home price in the South was $153,000 in the fourth quarter, down 2.4 percent from a year earlier. 

  “Affordable markets in the South that have relatively better local economies are seeing healthy price gains, such as Houston, Oklahoma City and Shreveport, La.,” Yun said.

  Existing-home sales in the West jumped 16.2 percent in the fourth quarter to an annual rate of 1.38 million and are 18.2 percent above a year ago. The median existing single-family home price in the West was $227,200 in the fourth quarter, which is 8.9 percent below the fourth quarter of 2008, but with many areas showing notable gains.

  “Markets in the West such as San Francisco, San Jose and Denver are showing double-digit price increases, and other markets like San Diego and Anaheim have begun to firm up,” Yun said.

  The National Association of Realtors ® , “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend. 

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information.

   

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

• February 09, 2010
• 14:28

  [nt]

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Bend Oregon Real Estate is now a bargain

  Even though we are just starting to come out of the recession and the real estate market in Bend is down, I had a good year last year selling homes. Our aggressive Internet marketing is helping us find buyers world wide and help them buy homes. 45% of my sales last year were bank foreclosures and only 28% was to Bend residents.

  Less than half of my sales were to Oregonians. 55% was to out of town buyers. Our clients buying homes in Bend were from France, Malaysia, Hawaii, Alaska, Florida, California, Oregon, Washington and Virginia. 2010 looks like the time to buy real estate in Bend Oregon.

  I look for the market in Bend to bottom out this spring/summer. Interest rates are near record lows and prices are about half of what they were at the peak of the market.  There is going to be a lot of money made this year by savvy investors. 

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information. 

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

• February 04, 2010
• 6:27

  Pending Home Sales Rise Above Last Years

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  The National Association of Realtors just released the following article.

   Pending Home Sales Stabilize, Remain Above Year-Ago Levels

  Washington, February 02, 2010

  Pending home sales have leveled from a market swing driven by response to the home buyer tax credit, according to the National Association of Realtors®.

  The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in December, increased 1.0 percent to 96.6 from 95.6 in November, and remains 10.9 percent above December 2008 when it was 87.1. In November, the monthly index had fallen by 16.4 percent from surging activity in preceding months.

  Lawrence Yun, NAR chief economist, said it’s important to recognize how the tax credit is skewing market data. “There are easily understood swings in contract activity as buyers respond to a tax credit that was expiring and was then extended and expanded,” he said. “These swings are masking the underlying trend, which is a broad improvement over year-ago levels. December activity was the fifth highest monthly tally in two years.”

  Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30, 2010, to finalize the transaction to qualify for a tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.

  The PHSI in the Northeast rose 2.3 percent to 76.1 in December and is 14.9 percent higher than December 2008. In the Midwest the index increased 5.2 percent to 86.9 and is 8.7 percent above a year ago. Pending home sales in the South rose 2.2 percent to an index of 98.4, and are 5.5 percent higher than December 2008. In the West the index fell 3.8 percent to 119.9 but is 18.6 percent above a year ago.

  Yun projects the extended and expanded tax credit will encourage 2.4 million households to take the credit in 2010. “While new-home sales will remain low due to a lack of construction, existing-home sales are projected to rise to around 5.6 million in 2010,” Yun said. Last year there were 5.16 million existing-home sales.

  He added that one of the greatest benefits of rising sales will be firming home prices. “For several months now we’ve been seeing stabilization in all of the home price measures as inventory is pulled down,” Yun said. “As a result, the housing wealth for many middle class families has begun to stabilize.”

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  Existing-home sales for January will be reported February 26 and the next Pending Home Sales Index will be on March 4; release times are 10 a.m. EST.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  or go to Bank Foreclosure Information. 

  If you have questions about Bend or Bend real estate just type in the subject in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate and many subjects about Bend.

   

  

• February 03, 2010
• 6:15

  More Bend Oregon Bank Foreclosures On the Way

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Bend’s local paper, The Bend Bulletin, reported a jump in notices of foreclosure for the month of January.  A notice of foreclosure is filed when owners are behind in their mortgage payments.  The bank gives legal notice that they are going to foreclose if the payments are not brought current.

  “There were 402 notices of default recorded in Deschutes County last month, the most since the housing crisis began three years ago, according to the Deschutes County Clerks Office.

  The number increased by nearly 26 percent from the 320 default notices recorded in December 2009, and more than 95 percent from the 206 notices recorded in January 2009.”

  This spring looks like a great time to buy a bank foreclosure in Bend Oregon.  There is a lot of money to be made in today’s real estate market.  We are seeing a steady increase of out of town buyers buying investment rentals, second homes and primary residences.

  Bend has always been a highly desirable place to live.  The recreational opportunities are abundant; everything from mountain biking, hiking, rafting, golfing, fishing, rock climbing, camping, downhill and cross country skiing, snowmobiling, general sightseeing and much more.

  Our real estate prices are down and interest rates are near historic lows.  The national economy looks like it has bottomed out.  Now is the time to buy real estate in Bend Oregon. 

  If you’re thinking about buying a bank foreclosure in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 
  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• January 11, 2010
• 19:19

  Broken Top Bank Foreclosures

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  There are currently 4 bank owned homes in Broken Top for sale.  If you have been considering buying a home in Broken Top now is the time.  These homes  have an average asking price of $163.97 a square foot.  You could not replace these homes for these prices. 

  Broken Top is one of the most prestigious golf course communities in Bend.   If you are considering buying a home in Broken Top or any other quality neighborhood you should sign up for Jim’s New Listing Notification Service. You can contact Jim with any real estate questions you may have at 541-389-4511 or send him an e-mail.

  Jim Johnson is licensed as the Principal Broker of Bend Oregon Real Estate Expert by the State of Oregon. WEB SITE  Jim specializes in helping buyers buy bank foreclosures.

• January 08, 2010
• 5:34

  Real Estate Sales Expected to Pick up in Spring

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

   Pending Home Sales Down from Surge but Higher than a Year Ago

  Washington, January 05, 2010

  Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year ago, according to the National Association of Realtors®.

  The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in November, fell 16.0 percent to 96.0 from an upwardly revised 114.3 in October, but is 15.5 percent higher than November 2008 when it was 83.1.

  Lawrence Yun, NAR chief economist, said a drop was expected. “It will be at least early spring before we see notable gains in sales activity as home buyers respond to the recently extended and expanded tax credit,” he said. “The fact that pending home sales are comfortably above year-ago levels shows the market has gained sufficient momentum on its own. We expect another surge in the spring as more home buyers take advantage of affordable housing conditions before the tax credit expires.”

  Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30, 2010, to finalize the transaction to qualify for the tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.

  The PHSI in the Northeast dropped 25.7 percent to 74.4 in November but is 14.7 percent above a year ago. In the Midwest the index fell 25.7 percent to 82.0 but is 9.2 percent higher than November 2008. Pending home sales in the South fell 15.0 percent to an index of 97.8, but are 14.7 percent higher than a year ago. In the West the index declined 2.7 percent to 124.6 but is 21.4 percent above November 2008.

  Yun projects an additional 900,000 first-time buyers will qualify for the extended tax credit in addition to about 2 million who have already purchased; 1.5 million repeat buyers also are expected to benefit from the credit.

  “Many trade-up buyers, who have historically timed their purchase based on school-year considerations, will have to accelerate their buying plans if they need the tax credit to make a trade,” Yun said. Repeat buyers do not have to sell their existing home to qualify for the credit, but they must occupy the home they buy as their primary residence.

  Yun added that mortgage interest rates cannot remain at rock-bottom levels for a sustained period and will likely inch higher in 2010. But the tax credit impact in the first half of the year and expected job growth impact in the second half will support home buying activity and absorb enough inventory to bring a rough balance between buyers and sellers. Home prices are expected to stabilize or even modestly rise as a result in 2010.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  Existing-home sales for December will be reported January 25 and the next Pending Home Sales Index will be on February 2; release times are 10 a.m. EST.

  Now is a great time to buy a home in Bend Oregon. If you are considering buying a home in Bend you should sign up for Jim’s New Listing Notification Service. You can contact Jim with any real estate questions you may have at 541-389-4511 or send him an e-mail. Jim Johnson is licensed as the Principal Broker of Bend Oregon Real Estate Expert by the State of Oregon. WEB SITE

• January 01, 2010
• 19:56

  Bend Oregon Realtors See Big Changes

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Realtors® See a Decade of Dramatic Developments

  WASHINGTON, December 30, 2009

  At the beginning of the 21st century, most home buyers had never viewed a home online; the three top home sale marketing methods were yard signs, newspaper ads and open houses; and nearly nine out of 10 buyers financed their purchase with a fixed-rate, 30-year mortgage. What a difference a decade makes.

  “The real estate industry has seen tremendous change and evolution over the past decade,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “As the first, best source for real estate information, Realtors® have not only anticipated and adapted to the evolving needs of their clients and customers, but also have influenced industry trends and innovations that will carry us into the future.”

  In 1999, buyers who went online in search for a home were in the minority – only 37 percent of buyers used the Internet in their home search, according to data from the NAR Profile of Home Buyers and Sellers. Today, 90 percent of buyers are searching online, and the real estate industry has responded. Sites like REALTOR.com, which attracts nearly 12 million total visits every month, have evolved to gives today’s buyers what they want – not just property listings, but multiple photos, online videos, mapping features, and comprehensive neighborhood information, as well.

  Median home values over the past decade have increased more than 25 percent, from $137,600 in November 1999 to $172,600 in November 2009 (the most recent existing-home data available). Fewer people are buying detached, single family homes – 82 percent in 1999 compared to 78 percent in 2009 – but more people are buying homes in suburban neighborhoods – 46 percent in 1999 compared to 54 percent today.

  Buyers themselves have also changed. A smaller proportion of married couples are buying homes these days; while married couples comprised 68 percent of all home purchases at the beginning of this century, they represent 60 percent of all buyers today. Single men and women have made up the difference – single men purchased 10 percent of all homes last year, compared to only 7 percent 10 years ago. Single women now represent more than one-fifth of all home buyers – 21 percent, up from 15 percent in 1999.

  Other things haven’t changed. The median age for home buyers last year was 39, just as it was in 1999. Neighborhood quality, affordability, and convenience to work and school have consistently been top priorities for both past and present buyers. And eight out of 10 recently surveyed consumers believe that owning a home is an investment in their future.

  “Realtors® have been around for more than 100 years, but one constant during that time has been the persistence of home ownership as the American Dream,” said Golder. “As the first decade of this century comes to a close, NAR stands ready to meet the many challenges and opportunities that lie ahead by helping our Realtor® members better serve their clients and communities and ensuring that those dreams of home ownership remain possible for all who want to achieve it.”

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  Now is a great time to buy a home in Bend Oregon. If you are considering buying a home in Bend you should sign up for Jim’s New Listing Notification Service. You can contact Jim with any real estate questions you may have at 541-389-4511 or send him an e-mail. Jim Johnson is licensed as the Principal Broker of Bend Oregon Real Estate Expert by the State of Oregon. WEB SITE

• December 22, 2009
• 14:38

  Home Sales Climbing

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

     Another Big Gain in Existing-Home Sales as Buyers Respond to Tax Credit

  Washington, December 22, 2009

  Existing-home sales rose again in November as first-time buyers rushed to close sales before the original November 30 deadline for the recently extended and expanded tax credit, according to the National Association of Realtors®.

  Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.4 percent to a seasonally adjusted annual rate¹ of 6.54 million units in November from 6.09 million in October, and are 44.1 percent higher than the 4.54 million-unit pace in November 2008. Current sales remain at the highest level since February 2007 when they hit 6.55 million.

  Lawrence Yun, NAR chief economist, said the rise was expected. “This clearly is a rush of first-time buyers not wanting to miss out on the tax credit, but there are many more potential buyers who can enter the market in the months ahead,” he said. “We expect a temporary sales drop while buying activity ramps up for another surge in the spring when buyers take advantage of the expanded tax credit, which hopefully will take us into a self-sustaining market in the second half of 2010. In all, 4.4 million households are expected to claim the tax credit before it expires and balance should be restored to the housing sector with inventories continuing to decline.”

  An NAR practitioner survey² shows first-time buyers purchased 51 percent of homes in November, compared with an upwardly revised 50 percent of transactions in October.

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 4.88 percent in November from 4.95 percent in October; the rate was 6.09 percent in November 2008. Last month’s mortgage interest rate was the second lowest on record after bottoming at 4.81 percent in April 2009.

  NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said conditions are optimal for buyers in the current market. “Inventories have steadily declined and are closer to balanced levels, which indicate home prices in many areas are either stabilizing or could soon stabilize and return to normal appreciation patterns,” she said. “This means buyers still have good choices but are purchasing near the bottom of the price cycle with historically low mortgage interest rates. Throw a tax credit on top and it really doesn’t get any better for buyers with secure jobs and long-term ownership plans.”

  Total housing inventory at the end of November declined 1.3 percent to 3.52 million existing homes available for sale, which represents a 6.5-month supply³ at the current sales pace, down from an 7.0-month supply in October.

  Raw unsold inventory figures are 15.5 percent below a year ago. The last time there was a lower supply of homes on the market was April 2006 when it was at a 6.1-month supply.

  “Nearly all markets experienced a solid sales gain from one year ago,” Yun said. “The only markets with measurably lower sales were in San Diego, Riverside, and Sacramento, where inventory shortages for lower priced homes are limiting sales.”

  For the second month in a row, sales have risen in all price classes from a year earlier. Prior to October, the only consistent gains were in the lower price ranges.

  The national median existing-home price⁴ for all housing types was $172,600 in November, which is 4.3 percent below November 2008. Distressed properties, which accounted for 33 percent of sales in November, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes in the same area.

  Single-family home sales jumped 8.5 percent to a seasonally adjusted annual rate of 5.77 million in November from a level of 5.32 million in October, and are 42.1 percent above the pace of 4.06 million in November 2008. The median existing single-family home price was $171,900 in November, down 4.4 percent from a year ago.

  Existing condominium and co-op sales in November were unchanged from a seasonally adjusted annual rate of 770,000 in October, but are 60.1 percent above the 481,000-unit pace a year ago. The median existing condo price⁵ was $178,000 in November, which is 3.1 percent below November 2008.

  Regionally, existing-home sales in the Northeast rose 6.6 percent to an annual level of 1.13 million in November, and are 52.7 percent higher than November 2008. The median price in the Northeast was $223,400, down 13.1 percent from a year ago.

  Existing-home sales in the Midwest increased 8.4 percent in November to a pace of 1.55 million and are 53.5 percent above a year ago. The median price in the Midwest was $140,800, a decline of 0.4 percent from November 2008.

  In the South, existing-home sales rose 4.8 percent to an annual level of 2.39 million in November and are 44.8 percent higher than a year ago. The median price in the South was $151,400, down 1.4 percent from November 2008.

  Existing-home sales in the West increased 10.6 percent to an annual rate of 1.46 million in November and are 28.1 percent above November 2008. The median price in the West was $231,100, which is 4.1 percent below a year ago.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  Now is a great time to buy a home in Bend Oregon. If you are considering buying a home in Bend you should sign up for Jim’s New Listing Notification Service. You can contact Jim with any real estate questions you may have at 541-389-4511 or send him an e-mail. Jim Johnson is licensed as the Principal Broker of Bend Oregon Real Estate Expert by the State of Oregon. WEB SITE

• December 20, 2009
• 9:02

  Vacation Time

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Even though Bend Oregon is a great place to live it’s nice to get away for a while.  After a good year selling homes in Bend my wife Connie and I will arrive in Phoenix tomorrow to spend Christmas with Connie’s family.  Connie’s cousin has a full RV hook up at here house in Scottsdale.  So we will be spending a few days there before heading to Green Valley for some sunshine and birding.

  The next few months will be the time to by Bend Oregon real estate.  Prices are low, interest rates are at historic lows and the economy is slowing coming back.  Have a good holiday and new year.

• December 11, 2009
• 18:10

  Tetherow Golf Club

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Tetherow Gold Club in Bend Oregon was named in the ”best of new course” award by Golf Digest.  Tetherow placed third on the magazines’ list of “America’s Best New Public Courses of 2009.”  The announcement will be published in the January 2010 issue of the magazine.  Tetherow was also named “Best New Course of 2008″ by Golf Magazine.  The course was finished in July 2008. 

  Tetherow hit the Bend Oregon real estate market at a bad time.  There have been no homes sold through the Central Oregon Multiple Listing Service and only two lots in the last year.  It looks like Tetherow is off to a slow start with this economy.  In the long run I think it will be a good investment considering their award winning course.

  If you’re thinking about buying a home or land in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality golf course homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

• December 06, 2009
• 11:54

  The End Of The Bend Oregon Recession

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  The Bend Oregon local newspaper, The Bulletin, had three articles pointing to the end of the recession in Oregon Thursday.  “Index shows end of Oregon recession” reported that the University of Oregon’s Index of Economic Indicators rose for the third month in a row.  Signaling the end of the recession in Oregon.

  “Fed Survey finds signs of recovery” and a graph showing the continued rise in pending home sales for a record nine months.  It’s also been recently reported that Bend Oregon real estate inventories are down by almost 50%.  The number of bank foreclosures for currently for sale is down about 25% as compared to this summer.

  

  In my opinion the real estate market in Bend is not going to bounce up with any dramatic increases but we will see more and more multiple offers on well priced listings.  Five of the 18 home sales I made this year were involved with multiple offers.  Some of my clients lost homes that were in multiple offer situations.

  About 80% of the homes for sale in Bend today are over priced but the remaining homes present great opportunities for the home buyer.  These prices are great and interest rates are at historic lows.  I believe between now and next summer is the time to buy.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• December 04, 2009
• 14:50

  Bend Oregon Commercial Vacancy Rates

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  The local Bend news paper, The Bulletin, recently reported that commercial real estate vacancy rates seem to be stabilizing.  The vacancy rates broke down as follows:

  Retail Vacancy: 13.1%
  Industrial: 17.1%
  Office Vacancy: 20%

  By stabilization the article says that the increase in vacancies is slowing.  Vacancies are not falling yet.  A local commercial broker was quoted as saying “We’re not seeing the death spiral of dramatic increases in vacancy and lower rental rates……….”.  I’m of the opinion that we have not seen the bottom of the Bend Oregon commercial real estate market yet.

  I do believe that now is the time to start looking around to pick up distressed commercial properties and bank foreclosures.  However, investors must have holding power to make money in this market.

  If you’re thinking about buying commercial real estate in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson  has been selling real estate in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• December 02, 2009
• 6:39

  Home Sales Still Rising

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

   Nine Consecutive Gains for Pending Home Sales  

  Washington, December 01, 2009   National Association of Realtors Report

  Pending home sales have risen for nine months in a row, a first for the series of the index since its inception in 2001, according to the National Association of Realtors®.

  The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in October, increased 3.7 percent to 114.1 from 110.0 in September, and is 31.8 percent above October 2008 when it was 86.6. The rise from a year ago is the biggest annual increase ever recorded for the index, which is at the highest level since March 2006 when it was 115.2.

  Lawrence Yun, NAR chief economist, said home sales are experiencing a pendulum swing. “Keep in mind that housing had been under performing over most of the past year. Based on the demographics of our growing population, existing-home sales should be in the range of 5.5 million to 6.0 million annually, but we were well below the 5-million mark before the home buyer tax credit stimulus,” he said. “This means the tax credit is helping unleash a pent-up demand from a large pool of financially qualified renters, much more than borrowing sales from the future.

  The PHSI in the Northeast surged 19.9 percent to 100.2 in October and is 44.2 percent above a year ago. In the Midwest the index rose 11.6 percent to 109.6 and is 36.6 percent higher than October 2008. Pending home sales in the South increased 5.4 percent to an index of 115.4, which is 31.6 percent above a year ago. In the West the index fell 11.2 percent to 127.7 but is 21.9 percent above October 2008.

  Yun cautioned that home sales could dip in the months ahead. “The expanded tax credit has only been available for the past three weeks, but the time between when buyers start looking at homes until they close on a sale can take anywhere from three to five months. Given the lag time, we could see a temporary decline in closed existing-home sales from December until early spring when we get another surge, but the weak job market remains a major concern and could slow the recovery process.

  “Still, as inventories continue to decline and balance is gradually restored between buyers and sellers, we should reach self-sustaining housing conditions and firming home prices in most areas around the middle of 2010. That would mean broad wealth stabilization for the vast number of middle-class families,” Yun said.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  Existing-home sales for November will be reported December 22 and the next Pending Home Sales Index will be on January 5; release times are 10 a.m. EST.###

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• November 28, 2009
• 8:37

  A Good Year For Real Estate in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  It looks like 2010 is going to be a good year to buy real estate in Bend Oregon.  Interest rates are low, prices are good and Uncle Sam is giving out tax credits until April to most people who buy a home.  $8,000 to first time home buyers who haven’t owned a home within the last 3 year.  A little less for those who do.

  We are starting to see multiple offers on well priced homes.  Bank foreclosures made up 44.4% of my sales last year and my clients were involved in several multiple offer situations.  We won some and lost some.

  One problem we are having is low ball appraisals on some of our sales.  As the market bottoms out appraisers can’t find comparable sales for their appraisals.  I sold a river front home for $379,000 and the appraiser came in $30,000 below the sales price.  There were no comparable river front sale in Bend so he used LaPine sales which are completely out of our area.

  As prices start to stabilize we will see more and more multiple offer situations.  Negotiating on behalf of my clients is one of my specialties.  I’ve been selling quality homes for 33 years.

   I sincerely believe that between now and summer is the time to buy a home in Bend.  Once the media reports prices and interest rates are going up I think we are going to see a deluge of buyers. 

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• November 17, 2009
• 10:58

  Home Sales Surge In Many States

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Existing-Home Sales Surge in Many States in Third Quarter, Metro Prices Moderating

  WASHINGTON, November 10, 2009

  Most states continued to experience rising existing-home sales in the third quarter, with prices moderating in many metro areas, according to the latest survey by the National Association of Realtors®.

  Total state existing-home sales, including single-family and condo, increased 11.4 percent to a seasonally adjusted annual rate¹ of 5.30 million units in the third quarter from 4.76 million units in the second quarter, and are now 5.9 percent above the 5.01 million-unit pace in the third quarter of 2008.

  Sales increased from the second quarter in 45 states and the District of Columbia; 28 states and D.C. saw double-digit gains. Year-over-year sales were higher in 32 states and D.C.

  Lawrence Yun, NAR chief economist, said the tax credit is a significant factor. “We can’t underestimate just how powerful a catalyst the first-time home buyer tax credit has been for the housing sector,” he said. “It’s given buyers the confidence they needed to get off the fence and take advantage of extremely affordable housing conditions. The buying conditions this year are the most favorable on record dating back to 1970, but the tax credit is allowing buyers to set aside any reservations about waiting for a better deal.”

  During the third quarter, 123 out of 153 metropolitan statistical areas² reported lower median existing single-family home prices in comparison with the third quarter of 2008, while 30 areas had price gains.

  The national median existing single-family price was $177,900, which is 11.2 percent below the third quarter of 2008; the median is where half sold for more and half sold for less. Distressed sales – foreclosures and short sales – accounted for 30 percent of transactions in the third quarter, which continued to weigh down median home prices because they sell at a discount relative to traditional homes.

  “The decline in the national median price has moderated recently, and a shrinking supply of unsold inventory suggests we are getting closer to price stabilization in many areas, but we need a steady stream of financially qualified buyers to further reduce inventory and get us to a self-sustaining market,” Yun said. “Foreclosures will continue to come on the market, but rising sales from the expanded tax credit should stabilize home prices by next spring and help to stem future foreclosures.”

  According to Freddie Mac, the national average commitment rate on a 30-year conventional fixed-rate mortgage rose to 5.16 percent in the third quarter from a record low 5.03 percent in the second quarter, but was dramatically lower than the 6.32 percent average rate in the third quarter of 2008.

  NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said he is encouraged by recent actions in Congress. “Extending and expanding the tax credit to more buyers through the middle of next year is the right medicine,” he said. “Congress understands the impact of housing on the economy, so consumers who aren’t’t able to complete a transaction before the end of this month now have a second chance but must have a contract in place by April 30.”

  The biggest sales gain between the second and third quarters was in North Dakota, up 42.3 percent; followed by Rhode Island which rose 26.5 percent; and Pennsylvania, up 25.6 percent.

  The largest single-family home price increase in the third quarter was in the Cumberland area of Maryland and West Virginia at $122,100, up 19.2 percent from the third quarter of 2008. Next was the Davenport-Moline-Rock Island area of Iowa and Illinois, where the median price increased 14.3 percent to $115,600, followed by Oklahoma City, at $144,100, up 9.1 percent from a year ago.

  “The wide range of market performance and reversals around the country, ranging from double-digit gains to double-digit losses in both sales and prices, underscores just how local real estate truly is,” Yun said. “The wide changes and mix of numbers also indicates a market in transition, hopefully to one that is becoming more balanced and stable.”

  Median third-quarter metro area single-family home prices ranged from a very affordable $61,400 in the Saginaw-Saginaw Township North area of Michigan to $566,000 in the San Jose-Sunnyvale-Santa Clara area of California. The second most expensive area in the third quarter was San Francisco-Oakland-Fremont at $538,100; followed by the Anaheim-Santa Ana-Irvine area of California at $498,800.

  Other affordable markets include the Youngstown-Warren-Boardman area of Ohio and Pennsylvania at $70,700, and Lansing-East Lansing, Mich., at $86,600.

  In the condo sector, metro area condominium and cooperative prices – covering changes in 55 metro areas – showed the national median existing-condo price was $178,000 in the third quarter, down 15.4 percent from the third quarter of 2008. Four metros showed annual increases in the median condo price and 51 areas had declines.
  The metros experiencing condo price gains were San Diego-Carlsbad-San Marcos, at $215,100, up 13.3 percent; followed by the Cincinnati-Middletown area, up 2.0 percent to $119,700; the Toledo, Ohio, area, where the median price of $130,400 rose 1.7 percent from the third quarter of 2008; and the Indianapolis area at $114,400, up 0.8 percent.

  Metro area median existing-condo prices in the third quarter ranged from $67,600 in Las Vegas-Paradise, Nev., to $432,800 in San Francisco-Oakland-Fremont. The second most expensive reported condo market was New York-Wayne-White Plains at $297,500, followed by Boston-Cambridge-Quincy at $293,700.

  Other affordable condo markets include Reno-Sparks, Nev., at $81,300 in the third quarter, and Jacksonville, Fla., at $91,600.

  Regionally, existing-home sales in the Northeast surged 16.7 percent in the third quarter to a pace of 930,000 units and are 6.9 percent higher than a year ago.

  The median existing single-family home price in the Northeast declined 9.4 percent to $244,500 in the third quarter from the same quarter in 2008. The best price gain in the region was in Buffalo-Niagara Falls, N.Y., where the median price of $119,700 rose 4.8 percent from the third quarter of 2008; followed by Manchester-Nashua, N.H., at $237,600, up 2.6 percent; and the Pittsburgh area, where the median price rose 1.5 percent to $124,600.
  In the Midwest, existing-home sales jumped 13.2 percent in the third quarter to a pace of 1.20 million and are 5.2 percent above a year ago.

  The median existing single-family home price in the Midwest was down 5.5 percent to $150,200 in the third quarter from the same period in 2008. After Davenport-Moline-Rock Island, the next strongest metro price increase in the region was in Cedar Rapids, Iowa, where the median price of $145,700 was 7.6 percent higher than a year ago; followed by Bismarck, N.D., at $157,200, up 7.5 percent; and Ft. Wayne, Ind., where the median price rose 6.9 percent to $102,500.

  In the South, existing-home sales rose 11.3 percent in the third quarter to an annual rate of 1.97 million and are 5.9 percent higher than the third quarter of 2008.

  The median existing single-family home price in the South was $160,000 in the third quarter, down 7.9 percent from a year earlier. After Cumberland and Oklahoma City, the next strongest price increase in the region was in Shreveport-Bossier City, La., at $152,300, up 8.6 percent from the third quarter of 2008; Jackson, Miss., at $141,200, up 4.6 percent; and Durham, N.C., where the median price rose 3.6 percent to $184,300.
  Existing-home sales in the West increased 5.6 percent in the third quarter to an annual rate of 1.19 million and are 4.6 percent above a year ago.

  The median existing single-family home price in the West was $224,000 in the third quarter, which is 16.4 percent below the third quarter of 2008. The best metro price performance in the West was in Yakima, Wash., where the median price of $158,400 rose 2.7 percent from a year earlier; the Denver-Aurora area at $229,100, up 1.8 percent; and the Kennewick-Richland-Pasco area of Washington, where the median price rose 0.7 percent to $172,200.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• November 08, 2009
• 6:55

  Bend Oregon Commercial Real Estate

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Now is the time to buy Bend Oregon Commercial real estate!   It is a well know fact that the commercial real estate market lags behind the residential market. It looks like the residential market will bottom out in the winter of 2009.

  Vacancy rates on commercial properties in Bend are now around the 20% mark. That includes industrial, retail and office space. More and more bank foreclosures are coming on the market making it a great time for the astute investor to pick up some real bargains. The banks need to get these properties off their books.

  

  Vacant commercial space is still readily leasable but at considerably reduced rates as compared to the past. Now is a great time to buy some of these prime properties and rent them out to highly qualified tenants at reduced rates.

  Reduced lease rates should be short term. As the economy picks up rates can be increased to show a good return. Tenants will be reluctant to leave as their business has been established in a prime location and they will not want to move.

  The Old Mill District pictured above currently has a high vacancy rate for retail and office space. There are distressed properties available that would be excellent investments. Now would be a good time to pick up one of these properties. The Old Mill District along with some down town Bend properties will always be prime locations and attract top rated tenants.

  Timing the market is never easy but there are some leading indicators. The residential real estate market being one of those indicators. Bend’s booming economy in the late 80s until 2007 was based primarily on residential construction which boosted demand for industrial, office and retail space.

  

  When the residential market came to a screeching halt the Commercial market is following suit. Furniture stores were one of the first retail segments hit the hardest. Numerous furniture stores along with other retailers dependant on new home construction and sales were devastated.

  The next year or so should be a great time for the astute buyer to bring some cash off of the sidelines and invest in Bend Oregon Commercial real estate.

  Jim and Matt have lived in Bend since 1981. This is the best buying opportunity for investment property since the early 1980s. If you would like to discuss the commercial real estate market in Bend give Jim or Matt a call today.

  If you would like to receive e-mailed listings on Bank Foreclosures and other commercial property sign up for our New Listing Notification. Opportunities like this only come around every 25 years or so.

  

  If you’re thinking about buying commercial investment property in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson real estate in Bend Oregon since 1981.

   

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

   

• November 03, 2009
• 7:10

  Home Sales Continue To Rise

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

   Pending Home Sales Rise for Record Eight Straight Months

  Washington, November 02, 2009

  Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of Realtors®.

  The Pending Home Sales Index, a forward-looking indicator based on contracts signed in September, rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9. The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8.

  Lawrence Yun, NAR chief economist, said the momentum is understandable. “What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” he said. “Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery.”

  NAR estimates approximately 3 million renters are now financially well-qualified to buy a median-priced home. “As long as buyers do not overstretch and stay well within their budget, a sizable pent-up demand can be tapped among financially qualified potential buyers,” Yun said. “Although the tax credit is greatly reviving the existing home market, new-home sales may continue to struggle as home builders hold back production to drive down inventory. In addition, there remains an ongoing credit crunch for construction loans.”

  The Pending Home Sales Index in the Northeast slipped 2.0 percent to 83.6 in September but remains 16.9 percent above September 2008. In the Midwest the index rose 8.1 percent to 98.2 in September and is 17.8 percent higher than a year ago. In the South, pending home sales increased 4.9 percent to an index of 109.7 and is 22.8 percent above September 2008. In the West the index jumped 10.2 percent to 143.8 and is 23.7 percent above a year ago.

  Yun added that strong near-term reports should not be overstated. “We’re clearly not out of the woods because an excess of homes remains on the market despite recent improvements,” he said. “Although current inventory is getting closer to price equilibrium, foreclosures will continue to enter the pipeline. An extended and expanded tax credit would help absorb this incoming inventory.”

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  A forecast for housing and the economy will be released November 13 at 11 a.m. PST at the 2009 REALTORS® Conference & Expo in San Diego. Existing-home sales for October will be reported November 23 and the next Pending Home Sales Index will be on December 1; release times are 10 a.m. EST.  Source National Association of Realtors

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• October 30, 2009
• 8:57

  Senate Agrees To Extend Tax Credit For Home Buyers

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

   12:00 AM CDT on Thursday, October 29, 2009

  The Associated Press

   

  WASHINGTON – Senators agreed Wednesday to extend a popular tax credit for first-time home buyers and to offer a reduced credit to some repeat buyers.

  The tax credit provides up to $8,000 to first-time home buyers but is set to expire at the end of November. The Commerce Department said Wednesday that new home sales fell 3.6 percent in September, and some industry representatives blamed uncertainty about the tax credit.

  Senators agreed to extend the tax credit for first-time buyers while offering a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years, said Regan Lachapelle, a spokeswoman for Senate Majority Leader Harry Reid, D-Nev.

  The tax credits would be available to home buyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes, according to a summary of the legislation being circulated among lawmakers.

  Senators were still negotiating the expansion of a separate tax credit that lets money-losing businesses get refunds for taxes paid in previous years, providing them an immediate source of cash.

  Senators in both political parties were hoping to add both tax provisions to a bill that would give people running out of unemployment insurance benefits up to 20 more weeks of federal aid. The Senate could vote on the overall bill as early as today, but lawmakers were still haggling over several unrelated amendments Wednesday.

  If the Senate passes the bill, it would go to the House, which passed a similar bill extending unemployment benefits last month. House leaders have also said they support extending the tax credit for home buyers.

  The Associated Press

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

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• October 29, 2009
• 6:39

  Home Prices Rise For Third Straight Month

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Home prices rose in August for the third straight month, a rapid pace of recovery that surprised economists and raised questions about how long the trend can last.

  After a steep three-year descent, home prices rebounded this summer at an annualized pace of almost 7 percent, the Standard & Poor’s/Case-Shiller home price index showed Tuesday. Against a backdrop of rising unemployment and falling consumer confidence, the speed of the recovery stumped Robert Shiller, economist and co-creator of the index.

  The Case-Shiller index of 20 major cities climbed 1 percent from July to a seasonally adjusted reading of 144.5. While prices were down 11.4 percent from August a year ago, the annual declines have slowed since February.

  The preceding article was published by the Bend Bulletin.  It looks like we are seeing the bottom of the real estate market.  Now is a great time to buy while prices and interest rates are low.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• October 27, 2009
• 10:48

  Tax Credit Extension Likely

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  The National Association of Realtors reported today:

  Tax Credit Extension Seems Likely
  
  It seems likely that the U.S. Senate will approve a deal to extend the First-Time Home-buyer Tax Credit, but the devil is in the details.Florida Democrat Sen. Bill Nelson told reporters traveling to Florida with President Obama on Monday that he thought that the extension would be approved, but both senators and representatives are among those who think that there should be some fiscal offset for the cost of the extension.Spending any more money on the stimulus effort also could stir up a hornets’ nest in some circles.The proposal in the Senate that appears to have the most likelihood of passage would extend the $8,000 credit through March 31, then its value would drop by $2,000 for each of the subsequent three quarters of 2010. This plan was offered by Senate Majority Leader Harry Reid of Nevada and Senate Finance Committee Chairman Max Baucus, a Montana Democrat.Source: Associated Press, Andrew Taylor (10/26/2009) and The Wall Street Journal, John D. McKinnon (10/27/2009)

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• October 24, 2009
• 7:07

  Real Estate Sales Increasing Nationwide

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Most all of the news concerning the real estate market in the United States and Bend Oregon seems to be good these days!  All pointing to the bottom of the real estate market.  The following article was released my the National Association of Realtors.

  Washington, October 01, 2009

  Pending home sales have increased for seven straight months, the longest in the series of the index which began in 2001, according to the National Association of Realtors®.

  The Pending Home Sales Index, a forward-looking indicator based on contracts signed in August, rose 6.4 percent to 103.8 from a reading of 97.6 in July, and is 12.4 percent above August 2008 when it was 92.4. The index is at the highest level since March 2007 when it was 104.5.

  Lawrence Yun, NAR chief economist, said not all contracts are turning into closed sales within an expected timeframe. “The rise in pending home sales shows buyers are returning to the market and signing contracts, but deals are not necessarily closing because of long delays related to short sales, and issues regarding complex new appraisal rules,” he said. “No doubt many first-time buyers are rushing to beat the deadline for the $8,000 tax credit, which expires at the end of next month.”

  The Pending Home Sales Index in the Northeast jumped 8.2 percent to 85.3 in August and is 12.0 percent higher than August 2008. In the Midwest the index rose 3.1 percent to 90.8 in August and is 7.6 percent above a year ago. In the South, pending home sales increased 0.8 percent to an index of 104.6 and is 8.2 percent above August 2008. In the West the index surged 16.0 percent to 130.5 and is 22.3 percent above a year ago.

  “There is likely to be some double counting over a span of several months because some buyers whose contracts were cancelled have found another home and signed a new contract to buy,” Yun explained. “Perhaps the real question is how many transactions are being delayed in the pipeline, and how many are being cancelled? Without historic precedents, it’s challenging to assess.”

  Yun also noted that the data sample coverage for pending sales is smaller than the measurement for closed existing-home sales, so the two series will never match one for one.

  NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said first-time buyers need to act now. “Potential first-time buyers must make a contract offer very soon to have a reasonable chance of qualifying for the tax credit,” he said. “Congress needs to extend and expand this program because it’s stimulating the economy and reducing inventory close to price stabilization points.”

  McMillan said a sizable number of homebuyers already in the pipeline could be let down because of the tight deadline. “We know there is a pent-up demand because sales are below normal levels for the size of our population. The faster we absorb excess inventory, the sooner we’ll turn the corner on home prices, prevent additional families from becoming upside-down in their mortgages, and give Wall Street the confidence to extend credit to other sectors,” he said. “Each home sale pumps an additional $63,000 into the economy through related goods and services, so the benefits of extending and expanding the tax credit far outweigh the costs.”

  Yun said the forecast for home sales and prices depends very much on whether a tax credit is extended. “All we can say for certain is sales will decline when the tax credit expires because we are not yet on a self-sustaining recovery path. It also raises a risk of a double-dip recession,” he said. “Extending and expanding the tax credit is the best tool in our arsenal to encourage financially qualified buyers to stimulate the economy and help reduce the budget deficit.”

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  *The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.

  The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.

  An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.

  Existing-home sales for September will be released October 23; the next Pending Home Sales Index will be on November 2.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• October 21, 2009
• 6:42

  Real Estate Tax Credit May Be Extended

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Congress is pushing to extend the first time home buyer tax credit until June 30, 2010.  They are proposing the $8,000 credit be extended to all home buyers.  I think this is a great way to spread some of the stimulus money around and stimulate a depressed real estate market.  I look for the Bend Oregon real estate market to bottom out this spring.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• October 19, 2009
• 9:43

  Home Sales Up As Prices Level Out

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  The Bend Bulletin’s article in the business section of the news paper on Sunday had a head line “Home Sales Up As Prices Level Out.”  It does look like we are seeing the bottom of the market.  They also reported that record foreclosures and unemployment could keep pressure on the market.

  As a veteran of the Bend Oregon real estate market it looks like we are seeing the bottom of the market.  Even though it’s impossible to predict a bottom.  I think we will see the market bust open next spring.  Not that prices are going to jump substantially but I predict we will see more and more buyers coming into the market.  That means more multiple offers on well priced properties.

  There will still be plenty Bank Foreclosures available but there will be more competition for well priced properties.  Interest rates are also a factor.  I predict rates will start going up next spring.  Every indicator I look at says between now and next spring is the time to buy Bend Oregon Real Estate.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• October 15, 2009
• 5:46

  Bend Oregon Homes 50% Off Sale!

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Bend Oregon homes are almost half the price they were at the peak of the market in May 2007!  80% of all economist believe the recession has bottomed out.  It looks to me that prices should stabilize on homes in Bend next spring/summer.  Now is the time to start looking for that dream home in Bend.

   There are some really good buys on luxury homes.  You can now buy a top quality home for much less than you can build one.  There are some great buys on the other end of the spectrum also.  Smaller 3 bedroom, 2 bath homes can be bought for just over $100,000. 

  First time home buyers better hurry if they want to receive $8,000 from Uncle Sam for buying a home.  Purchases have to be closed before December 1, 2009.  That does not leave much time.

  There’s a sale going on right now on homes in Bend with almost 50% off!  There’s money to be made if you buy a home in Bend within the next few months.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• October 14, 2009
• 6:50

  Bend Oregon Real Estate Recovery May Be Slow

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  The recovery of the real estate market in Bend Oregon may be starting now.  The number of bank foreclosures for sale is down to around 75 listing for sale in where as a few months ago the inventory was steady around 100 in the Central Oregon Multiple Listing Service.

  We are now seeing multiple offers on homes that are priced right.  I just wrote an offer on a bank owned home that had been on the market for 2 days.  There was already one offer with at least another on the way.  My client wrote her offer $23,000 over the list price which is still a great buy.

  I look for our prices to bottom out this next spring. It’s my opinion that from now through next spring is the time to buy Bend Oregon real estate.  Below is a wire service article on the economy. 

  NEW YORK (WKOW) — More than 80 percent of private economists surveyed believe the recession is over, according to a new survey released Monday by the National Association for Business Economics.

  At the same time, however, those same economists agree recovery will take time amid worries over unemployment and the federal debt.

  They estimate the U.S. economy will expand at a rate of nearly 3 percent in the second half of 2009 and through 2010.

  Economists predict the housing market recovery will gain momentum next year and estimate housing prices will rise around 2 percent in 2010.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• October 13, 2009
• 8:30

  First Time Home Buyers Should Hurry

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  First time home buyers should hurry if they want to take advantage of the $8,000 tax credit offered by the government.  You must close the transaction on or before December 1, 2009

  $8,000 Home Buyer Tax Credit at a Glance

  The information on this page pertains to the American Recovery and Reinvestment Act of 2009.

  • The tax credit is for first-time home buyers only. For the tax credit program, the IRS defines a first-time home buyer as someone who has not owned a principal residence during the three-year period prior to the purchase.
  • The tax credit does not have to be repaid.
  • The tax credit is equal to 10 percent of the home’s purchase price up to a maximum of $8,000.
  • The credit is available for homes purchased on or after January 1, 2009 and before December 1, 2009.
  • Single taxpayers with incomes up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• October 05, 2009
• 8:06

  Back From Vacation

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  I just got back from a nice 3 week vacation in Yellowstone National Park.  We just beat the freak snow storm that hit Bend Sunday.  We were without power for most of the day Sunday.  Now the sun’s back out the way it usually is!

  The real estate market seemed to slow a little while I was out of town.  My son and partner Matt did sell 4 homes while I was gone and wrote over a dozen offers.  There are still some great buys available even though the inventory of bank foreclosures is down from around an average of 100 to 75.

  Bank foreclosures continue to be some of the better buys out there.  Caution should be used though as some of them have broken pipes from being left unheated from last winter.  If you are considering buying a bank foreclosure give me or Matt a call.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• September 19, 2009
• 6:32

  The Pilot Butte Challenge

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  The Pilot Butte Challenge will be held Saturday September 26th.  It’s a timed one mile run/walk beginning at 9 a.m.  The event starts at the base of Pilot Butte and ends at the summit.

  Registration is necessary and may be done at www.signme upsports.com, or in Bend at REI (541-385-0594), FootZone (541-317-3568), the Pearl Izumi factory store (541-312-3358), Fleet Feet Sports (541-389-1601), Pandora’s Backpack (541-382-6694) and the Oregon Parks and Recreation Department’s Bend office (541-388-6055).

  The cost is $10, and $5 for 17 and younger or 65 and older. Proceeds will benefit The Pilot Butte Trust, which helps maintain and enhance Pilot Butte State Park.

  This event is just one of the reasons people are moving to Bend.  Now is a great time to buy a home in Bend Oregon. If you are considering buying a home in Bend you should sign up for Jim’s New Listing Notification Service. You can contact Jim with any real estate questions you may have at 541-389-4511 or send him an e-mail. Jim Johnson is licensed as the Principal Broker of Bend Oregon Real Estate Expert by the State of Oregon. WEB SITE

• September 13, 2009
• 5:20

  Mortgage Rates Are Great

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Rates for 30-year home loans ticked down for the second straight week, remaining close to record lows reached over the spring. The average rate for a 30-year fixed mortgage was 5.07 percent last week, down from 5.08 percent a week earlier, mortgage company Freddie Mac reported.While above the record low of 4.78 percent, rates are still at very attractive levels for those looking to buy a home or refinance.

  Rates should stay low for another month or two as government efforts to keep them low remain effective, predicts Michael Larson, an interest rate and real estate analyst with Weiss Research. But it won’t last forever. Rates will eventually trend upward, Larson said, as the economy starts to turn around.

  — From wire reports

  

  Now is a great time to buy a home in Bend Oregon. If you are considering buying a home in Bend you should sign up for Jim’s New Listing Notification Service. You can contact Jim with any real estate questions you may have at 541-389-4511 or send him an e-mail. Jim Johnson is licensed as the Principal Broker of Bend Oregon Real Estate Expert by the State of Oregon. WEB SITE

• September 07, 2009
• 17:56

  Bend Film Fest 2009

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

    

  The Bend Film Fest will be October 8-11 this year. The information below is from the Bend Film web site:

  Venue

  Tower Theatre
  McMenamins Old St. Francis School
  Old Mill Regal Cinema

  DOWNTOWN PARKING

  The City of Bend will suspend the two hour parking limit downtown and in the Parking Garage during the Film Festival. The easiest location for parking downtown is in the free Parking Garage, located on the corner of Lava Road and Minnesota Avenue with the main entrance off of Lava Road. The garage offers 551 covered parking spaces with 13 ADA stalls for the public and is just a few blocks from both the Tower Theatre and McMenamins.

  VENUE SHUTTLE

  During the Festival, Green Energy Transportation & Tour’s shuttle morphs into BendFilm’s FREE Mobile Movie Lounge/Shuttle. Catch a ride at any of the three Theatre venues on Friday and Saturday to connect with filmmakers and festival-goers aboard the Mobile Movie Lounge/Shuttle between 12:30 pm and 10:00 pm. Please expect 45 minute loops running between McMenamins, Tower Theatre and Regal Old Mill 16.

  SHUTTLE TIMES

  Thursday evening: 6:00 pm – 7:00 pm & 9:00
  pm – 10:00 pm between the Tower Theatre
  and Les Schwab Amphitheater.
  Friday and Saturday: 12:30 pm – 10:00 between all screening venues.

  Shuttle stops will be marked with a Mobile
  Movie Lounge sandwich board. Please call
  (541) 610-6103 with any thoughts or questions
  about drop-offs/pickups, or for the current
  location of the shuttle.

  The Mobile Movie Lounge/Shuttle is wheel chair
  accessible. The Shuttle will not be available on
  Sunday. Please plan accordingly.

  The Bend Film Festival is one of the many reasons people are moving to Bend Oregon. 

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

  
   

• September 04, 2009
• 6:43

  Oregon Horseshoe Pitchers Singles Championship

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Bend Oregon will host this years state championship horseshoe pitchers singles tournament.  The 86th annual state championship event is being held at Juniper Park in NE Bend.  Men, women and junior pitchers will take part in the two day event starting at 9:30 a.m. Saturday and Sunday.  The event is being hosted by the Bend Horseshoe Club.

  This event is on of many outdoor events held in Bend through out the year.  Many people move to Bend for its various outdoor events. 

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 31, 2009
• 15:04

  The Bigfoot 10K In Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  The Bigfoot 10K will take place this year on Sunday, September 20th.  It is being organized by CORK, the Central Oregon Running Klub.  It’s set to start at 9 a.m. at Seventh Mountain Resort southwest of Bend Oregon. 

  The downhill marathon, a certified 10K, will follow Century Drive to Bend and finish at McKay Park on the Deschutes River.  For more details on this race and other races in Bend go to CORK.

  Bend Oregon is an outdoor oriented community and long distance races is just one of the many reasons people are moving to Bend. 

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• August 30, 2009
• 13:19

  Bend Oregon RV Service

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  I would not recommend the service department at Beaver Coach in Bend Oregon for RV Service.  My experience with them has not been good.  They charged me over $100 more than Coach Master for a simple lube and oil.  Plus, Beaver Coach didn’t even put air in my tires which were low! 

  2 of the 3 people I asked would not use the Beaver Service department in Bend because they were “too expensive.”  I should have listened!  I feel that I have been over charged on about half the work they have done on my Coach.  I would not recommend the service department at Beaver Coach in Bend Oregon.

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• August 28, 2009
• 21:38

  Art In The High Desert

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Art in the High Desert is a juried fine art and craft festival showcasing more than 100 artists from across the country, from Bend, Central Oregon and Canada.  This is an annual event founded in 2007.

  This year the event hosted by The Old Mill District August 28-30.  It starts at 10 a.m. all three mornings.  It ends at 6 p.m. Friday and Saturday and 4 p.m. on Sunday.  For more information go to Art In The High Desert.

  Art and The Arts are some of the reasons people are moving to Bend Oregon.   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• August 26, 2009
• 10:53

  Buy A Bend Oregon Bank Foreclosure

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Now is the time to buy  Bend Oregon Bank Foreclosures.  Prices are very affordable and interest rates are near all time lows.  Unemployment is starting to fall and the stock market is starting to rise.  Unemployment is starting to slowly taper off. There’s news nation wide that the recession is ending.

  Buying a bank foreclosure is different than buying a home from an owner that is listed with a Realtor.  Even though the banks list their properties with different Realtors they play by different rules.  You need an expert to help you find, negotiate a good price and close a bank foreclosure.

  Finding a good property is not that difficult in this electronic age.  We can narrow down the type of property you are looking for quite easily.  Price range, size, age, bedrooms, baths, garage, lot size, school district, section of Bend etc.  You name it and we can narrow down the homes available to what you are looking for.

  Once you have found the home it’s time to make the offer.  As a general rule the banks are only coming down around 5% off the list price.  10% in a few rare instances.  If the property is priced right there’s a good chance of multiple offers.  If this is the case the bank usually comes back (e-mail via listing agent) stating that there are multiple offers for each party to make their highest and best offer.

  If a property has only been on the market for a few days the lender will not come down much at all.  Some lenders won’t even look at an offer until the home has been on the market for 5 days or more.

  Banks also don’t even look at the sales agreement until their is mutual acceptance on price, terms and closing date.  This is e-mailed to them by the listing Broker.  They also won’t look at an offer unless the buyer has pre-approval from a lender or proof of cash if it’s a cash sale.  Negotiations are conducted by e-mails between the listing broker and the buyer’s broker.

  Here’s a recent counter offer I received from the listing broker on a bank foreclosure I was negotiating on behalf of my clients:

  SELLER COUNTERS AT:

  NEW SALE PRICE TO BE $715,000 

  ALL OTHER TERMS REMAIN THE SAME

  While this unsigned counter offer was sitting in the e-mail another offer from another Realtor came in.  My clients quickly accepted the bank’s counter offer because they did not want to loose the property.

  Each situation is different and each bank and each listing broker works a little bit differently.  After the price and terms have been agreed upon by e-mail the bank sends a 10 page addendum (unsigned) with the price and terms for the buyer to sign first.  Then the bank signs everything at once.  This can take a week or more.

  Once their is “mutual acceptance” it’s time for the inspection.  I insist that all of my buyer clients make their purchase contingent upon a professional home inspection.  Many of the bank owned homes are winterized and the heat is left off.  All utilities need to be turned on for the home inspection.  Broken pipes are common even on homes that have been “winterized.”

  Once the inspection contingency has been removed by the buyer it’s time to proceed to closing.  Another hurdle we are seeing is low appraisals.  You need a broker that will provide the appraiser with good comparable sales and talk to the appraiser to insure a good appraisal is forthcoming.

  Once the appraisal is completed and the buyer receives full loan approval it’s time to send loan docs to escrow and close the transaction.  This is another possible problem.  Many of the lenders are using out of town escrow companies that are over worked and under staffed. 

  Local escrow companies can have the buyer sign the same day they receive loan docs. Out of town escrow companies can take days to get docs to a second escrow company in the same town as the buyer and have the buyer sign docs there (courtesy signing) and to have them notarized.  I won’t go into details here but I have seen problems crop up on recent bank foreclosure sales I have not seen in my 33 years in the real estate business.

  The bottom line is Bend Oregon Bank Foreclosures are a great buy right now!  Prices are extremely reasonable and interest rates are near all time lows. You need an experienced broker to help you buy your home.

  

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate. 

• August 24, 2009
• 20:30

  Mike Reid Wins the 2009 Tradition

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Mike Reid won the 2009 Tradition on the first play off hole against John Cook.  Reid and Cook both shot a -16.  Bend has many great golf courses but the Crosswater Club is probably the best.  Many people are buying homes in Bend because of the great golf and summer time golfing.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 22, 2009
• 12:17

  Bend Oregon Riverfront Property for Sale

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  There is a great Deschutes riverfront home for sale in Bend Oregon.  It’s in SW Bend and sits on the rim rock overlooking the Deschutes River.  The property line goes all the way to the river and there is a great trail along the river for fishing and hiking.

  Deschutes River frontage is very rare in Bend and this is the least expensive property on the river for sale in the Bend Oregon Multiple Listing Service.  There’s also a peek-a-boo view of Mt. Bachelor!  It’s only $399,500!!  Here’s a virtual tour: Bend Oregon Riverfront Home

  Bend is a great place to live and living on the river is as good as it gets.  If you are looking for a riverfront home in Bend call Jim or sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• 7:11

  Bend Oregon 2nd Street Theater

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  ‘The Cemetery Club’ is one of the many plays that have been presented at the 2nd Street Theater in Bend Oregon.  Bend has quite a large art community and 2nd Street Theater is one of the bright spots.  Some of its’ past productions include:

  2008-2009
  Menopause The Musical
  Over The River And Through The Woods
  Tony ‘n Tina’s Wedding
  Jonna’s Body, Please Hold
  The Cemetery Club
  The Taffetas 2007-2008
  The Sunshine Boys
  Voices
  Mrs. Bob Cratchit’s Wild Christmas Binge
  Same Time Next Year
  Dancing At Lughnasa
  Garden Politics
  Sweet Charity2006-2007
  Bits & Pieces, 2006
  Bad Habits
  Greater Tuna
  Stop The World, I Want To Get Off
  The Odd Couple - Female Version
  The Odd Couple
  Table Manners and Round And Round The Garden
  The Full Monty2005-2006
  Bits & Pieces, 2005
  The Murder Room
  You Can’t Take It With You
  HAIR
  The Gin Game
  Polish Joke
  I Love, You’re Perfect, Now Change!2004-2005
  Proof
  Dracula
  Arsenic and Old Lace
  Orphans
  Jesus Christ Superstar
  How The Other Half Loves
  Bugsy Malone, Jr. 2003-2004
  The Case Of The Purloined Popinjay / The Tale Of Two Women
  Bits & Pieces
  Greetings
  The Rocky Horror Show
  Who’s Afraid Of Virginia Woolf?
  Stepping Out
  Grotesque Lovesongs2002-2003
  Short Stuff, 2002
  The Lion In Winter
  Over The River And Through The Woods
  Final Reunion
  Light Up The Sky
  Talking With…2001-2002
  Short Stuff
  A Tuna Christmas
  Sea Marks
  The Waiting Room
  The Supporting Cast

   

  Maralyn Thoma is the owner and Artistic Director of 2nd Street Theater.  With a background of performing on Broadway and a scriptwriter for daytime soap operas, bringing professional quality theater to the audiences of Central Oregon is more than a business, it is also her passion. 

  2nd Street Theater’s goal is to produce 6-7 shows per year ranging from comedies, musicals and dramas.  The theater is also available for rent as a performance space for other fine arts organizations and as a meeting space for local companies and groups.   

  2nd Street Theater is a great place for unique and memorable holiday parties and special events.  Dates are available to schedule a private reception before a performance for your clients or group for an unforgettable evening. 

  Gift certificates are a great idea for the theater-lover in your life, you choose the amount and let your recipient choose the production.

  For more information on renting the theater, planning a special event or general questions on any upcoming production, please contact Vicki Pennock, 2nd Street Theater’s Business Manager, at 541-312-9626 or see their Web Site.

  The art community in Bend is one of the many reasons people are moving to Bend.  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 21, 2009
• 20:32

  National Association of Realtors Reports Strong Home Sales

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Washington, August 21, 2009

  For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of Realtors®.

  Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 7.2 percent to a seasonally adjusted annual rate¹ of 5.24 million units in July from a level of 4.89 million in June, and are 5.0 percent above the 4.99 million-unit pace in July 2008.  The last time sales rose for four consecutive months was in June 2004, and the last time sales were higher than a year earlier was November 2005.

  Lawrence Yun, NAR chief economist, said he is encouraged.  “The housing market has decisively turned for the better.  A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales,” he said.  

  The monthly sales gain was the largest on record for the total existing-home sales series dating back to 1999.

  “Because price-to-income ratios have fallen below historical trends, there are more all-cash offers.  In some recovering markets like San Diego, Las Vegas, Phoenix, and Orlando, the demand for foreclosed and lower priced homes has spiked, and a lack of inventory is becoming a common complaint,” Yun said.

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 5.22 percent in July from 5.42 percent in June; the rate was 6.43 percent in July 2008.

  An NAR practitioner survey showed first-time buyers purchased 30 percent of homes in July, and that distressed homes accounted for 31 percent of transactions.

  NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said the first-time buyer tax credit is working.  “In addition to first-time buyers, we’re also seeing increased activity by repeat buyers.  While many entry-level buyers are focused on the discounted prices of distressed homes, they’re also freeing some existing owners to sell and make a move,” he said.  

  “Realtors® are the best resource for consumers in these changing market conditions because the transaction process has become more complex.  Since it’s now taking longer to complete a home sale, first-time buyers who want to take advantage of the $8,000 tax credit should try to make contract offers by the end of September,” McMillan said.  “Otherwise, they may miss the November 30 closing deadline.”

  Total housing inventory at the end of July rose 7.3 percent to 4.09 million existing homes available for sale, which represents a 9.4-month supply² at the current sales pace, which was unchanged from June because of the strong sales gain.  Raw inventory totals are 10.6 percent lower than a year ago when the number of unsold homes was at a record.  

  The national median existing-home price³ for all housing types was $178,400 in July, which is 15.1 percent lower than July 2008.  Distressed properties continue to weigh down the median price because they typically sell for 15 to 20 percent less than traditional homes.

  Single-family home sales increased 6.5 percent to a seasonally adjusted annual rate of 4.61 million in July from a pace of 4.33 million in June, and are 5.0 percent higher than the 4.39 million-unit level in July 2008.  The median existing single-family home price was $178,300 in July, which is 14.6 percent below a year ago.

  Existing condominium and co-op sales jumped 12.5 percent to a seasonally adjusted annual rate of 630,000 units in July from 560,000 in June, and are 5.9 percent above the 595,000-unit level a year ago.  The median existing condo price⁴ was $178,800 in July, down 18.9 percent from July 2008.

  Regionally, existing-home sales in the Northeast surged 13.4 percent to an annual pace of 930,000 in July, and are 3.3 percent higher than July 2008.  The median price in the Northeast was $236,700, down 15.0 percent from a year ago.

  Existing-home sales in the Midwest jumped 10.9 percent in July to a level of 1.22 million and are 8.0 percent above a year ago.  The median price in the Midwest was $157,200, which is 5.9 percent less than July 2008.  

  In the South, existing-home sales rose 7.1 percent to an annual pace of 1.95 million in July and are 5.4 percent higher than July 2008.  The median price in the South was $164,500, down 7.1 percent from a year ago.  

  Existing-home sales in the West slipped 1.7 percent to an annual rate of 1.13 million in July, but are 1.8 percent above a year ago.  The median price in the West was $202,300, which is 28.0 percent below July 2008.  

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

  # # #

  NOTE:  Any references to performance in states or metro areas are from unpublished raw data used to analyze regional trends; please contact your local association of Realtors® for more information.

  ¹The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months.  Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity.  For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns.  However, seasonal factors cannot compensate for abnormal weather patterns.

  Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings.  This differs from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit.  Because of these differences, it is not uncommon for each series to move in different directions in the same month.  In addition, existing-home sales, which generally account for 85 to 90 percent of total home sales, are based on a much larger sample – more than 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.

  Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began.  Prior to this period, single-family homes accounted for more than nine out of 10 purchases.  Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

  ²Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982.

  ³The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in buying patterns.  Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns.  Changes in the composition of sales can distort median price data.  Year-ago median and mean prices sometimes are revised in an automated process if more data is received than was originally reported.

  ⁴Because there is a concentration of condos in high-cost metro areas, the national median condo price generally is higher than the median single-family price.  In a given market area, condos typically cost less than single-family homes.

  Existing-home sales for August will be released September 24.  The next Pending Home Sales Index & Forecast is scheduled for September 1; release times are 10 a.m. EDT.

  Information about NAR is available at www.realtor.org. This and other news releases are posted in the News Media section.  Statistical data in this release, other tables and surveys also may be found by clicking on Research.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

  

  –>

• August 20, 2009
• 7:19

  The Bend Oregon High Cascades 100

   » ‎ Bend Oregon Real Estate Blog

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  The Bend Oregon High Cascades 100 is a long mountain bike race covering, you guessed it, 100 mile of dirt trails surrounding Mount Bachelor.  The race begins Sunday August 23 at 6 a.m. and racers must finish by 8:30 p.m.

  The race starts and finishes on Century Drive, 15 miles SW of Bend at Wanoga Sno-park.  Registration is now closed so you will have to wait until next year if you want to participate in this grueling race.

  Mountain biking is one of the many reasons people are moving to Bend.   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• August 17, 2009
• 7:12

  Bend Oregon Mortgage Rate Remain Good

   » ‎ Bend Oregon Real Estate Blog

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  Mortgage rates in Bend Oregon are still below 5.5 percent.  They have been bouncing around and hit a low of 4.75% a few months ago.  These rates won’t remain low forever.  Low mortgage rates, a recovering economy and great prices on Bend Oregon real estate are all signs that now is the time to buy!

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 16, 2009
• 7:32

  Bend Oregon Real Estate - Longer Closings

   » ‎ Bend Oregon Real Estate Blog

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  It looks like real estate closings in Bend Oregon involving mortgage loans will be taking longer.  With all of the new government regulations my mortgage lender has told me to start giving her 45 days to close escrow instead of the normal 30 days.  I won’t go into all the technicalities but it’s just going to take longer because of the new government regulations.

  In an effort to stop high appraisals there is now a system where a lender can’t choose it’s own appraiser but requests the appraisal from a middle man who assigns the appraiser.  I have had two low appraisals out of my last 10 sales.  Or you could say 20% of my appraisals have come in low. 

  One low ball appraisal cost my elderly clients $15,000 in order to sell their home.  The market value of a property is the price that a buyer is ready willing and able to pay and the seller will accept.  Not a price some over worked under payed appraiser puts on it.

  Even though real estate transactions are getting more difficult it is still time to buy.  There are some really good values available in Bend now.  It does help to have an experienced broker help you negotiate a price and see the sale through to the end.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 14, 2009
• 7:16

  Joan Baez Comes to Bend

   » ‎ Bend Oregon Real Estate Blog

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  Joan Baez has been performing on stage for 50 years now.  She will appear with Janis Ian Sunday at the Athletic Club of Bend.  Bend Oregon continues to have top named musicians playing here.  Many people consider the arts before they move to Bend.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 13, 2009
• 20:11

  Foreclosures Rising

   » ‎ Bend Oregon Real Estate Blog

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  Foreclosure filings in July increased nearly 7 percent from June nation wide.  That’s up 32 percent from the same time last year.  Wednesday the Federal Reserve issued a statement saying that the recession is ending.  It keeps looking like the bottom of the Bend Oregon real estate market. Bend Oregon Bank Foreclosures For Sale

  Sales are picking up but there will be plenty of time to find a great home in Bend.  The pipeline of bank foreclosures is full and we should have a good supply for the next year or so.  I don’t look for prices to pick up until next year, probably in the spring. 

  Well priced homes are selling relatively fast.  I just sold a home in Northwest Crossing that was on the market for 23 days when my client bought it.  It was not a bank foreclosure but was well priced by an owner who understood the market and priced his property to sell.

  If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 12, 2009
• 8:15

  Bend Oregon Homes Sales Climbing

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  The number of July home sales in Bend Oregon was up 10.1% from June and up a whopping 40.7 percent from July 2008.  However the average price per square foot was $109 , down 3.5 percent from June and 40.7 percent from July of last year. 

  What does this mean.  It means it’s time to buy real estate in Bend Oregon.  The bottom line is that people are starting to come off the sidelines and buy homes.  Prices should remain good for the next year or so but interest rates are any one’s guess. 

   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 10, 2009
• 6:56

  Bend Oregon Trail Runs

   » ‎ Bend Oregon Real Estate Blog

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  People are moving to Bend for many of our outdoor activities.  One of these activities is the “Haulin’ Aspen Trail Marathon at Shevlin Park.  The Haulin’ Aspen trail run was started in 2005 and has become an annual event.

  Three hundred days of sunshine and the unique high desert topography of Bend, Oregon have made it a trail runner’s dream town. Even when there is snow in the mountains, miles of desert trails wind through sagebrush, manzanita and volcanic rock formations at lower elevations.

  Bend has 51 miles of in-town trails maintained by Bend Metro Parks & Recreation, and hundreds of miles of mountain biking, cross country and hiking trails a short drive from town.  It’s no wonder that Bend was named “America’s Best Trail Running Town”  by the editors of Outside Magazine in 2006, and was the choice for the  XTERRA Trail Running National Championship.

   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 09, 2009
• 20:40

  Professionals are Moving to Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  There are many professionals who are taking advantage of our low prices and moving to Bend Oregon.  I’ve recently been involved with two airline pilots, two doctors, two nurses, a retired government employee, a city manager in Palo Alto, a retired school teacher and the list goes on.

  Our attractive prices and low interest rates are allowing many people from all over the world move to Bend.  The farthermost purchase was a school teacher from France.  These good prices won’t last forever and I feel now is the time to buy.

   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 06, 2009
• 9:09

  Beaver Coach Service in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  I would not recommend the service department at Beaver Coach in Bend Oregon.  I bought a used 2002 Beaver Coach 3 years ago.  I asked around and 2 of the 3 people I asked would not use the Beaver Service department because they were “too expensive.”  I should have listened!

  They have a new “Advisor” at their front desk who acts more like a used car salesman.  He tries selling Extended Warranties more than anything.  He also does not know one end of a Beaver Coach from the other.  The first time I took my coach to him I had a fluid leak next to the generator. (Located in the front of the coach, diesel engine in back).  A couple of hours later I received a call from him. He had told the mechanic the leak was “at engine.”  They couldn’t find the leak!!  He didn’t know where the generator was!!  I paid for the labor.

  I will never go back to the Beaver Service Department again based on my last experience.  Long story short they charged me $425 for a lube, oil and filter.  Coach Masters of Bend charges $296 for essentially the same service.  Beaver checked the air pressure in my tires which were all low but did not put air in them!!  When I went to pay I was asked if I had an extended warranty.  “No?  Too bad!”

  Again, I would not recommend Beaver Coaches Service Department in Bend.  I have never tried their other service centers.  Beaver charges $109 an hour.  Their competition charges $98 an hour.  I will go anywhere but not to Beaver Coach to service my RV!  Good luck with your RVing!

  

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• August 05, 2009
• 7:04

  Pending Home Sales Continue to Rise

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  The National Association of Realtors announced that pending home sales rose 6.7 percent higher than in June of 2008.  A pending sale is a sale where buyer and seller have contractually agreed to a home transaction but the sale has not closed yet.

  This is yet another sign that now is the time to buy Bend Oregon real estate.   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

  

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• August 03, 2009
• 6:32

  Tom Watson Commits to Play the Tradition Golf Tournament

   » ‎ Bend Oregon Real Estate Blog

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  Tom Watson has committed to play in the Jeld-Wen Tradition golf tournament in Sunriver later this month.  Greg Norman and Gary Player will also participate.  The tournament is a nationally televised event that brings more real estate buyers to Bend.  Golf if one of the many reasons people move to Bend.

   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• August 02, 2009
• 10:17

  Bend Oregon Real Estate

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Now is a great time to buy Bend Oregon Real Estate!  Last year several business entities in Bend started the “Best Buyers’ Market in 20 Years” campaign.  It was a great idea but a little before it’s time.

  I believe now is the time to buy Bend Oregon real estate.  Prices are very low.  Interest rates are near all time lows and there are many Bank Foreclosures available.  During the recession of th early 80s there was millions of dollars made by investors and home owners who bought real estate in Bend.  25 years later that opportunity is here again!

  

  New homes are not selling right now and very few builders are building spec homes.  You can buy an existing home for much less than you can build one.  There are currently 87 bank owned homes for sale in Bend.  There’s a 3 bedroom, 2 bath home for $94,900 and a 4,636 square foot home on Awbrey Butte with great mountain views for $789,000!  Replacement costs for these homes is much more!  These are real bargains!

   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

   

• August 01, 2009
• 6:03

  Economic Decline Slowing

   » ‎ Bend Oregon Real Estate Blog

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  The economy only shrank by 1% from April through June.  This is less than most economist predicted.  It shrank 6.4% in the first quarter of this year and was revised downward Friday from initial estimates.

  Home mortgage interest rates are near all time lows.  Home prices are very attractive and it looks like we are hitting the bottom of the Bend Oregon real estate market.  Now is definitely the time to buy a home in Bend.

   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

  

   

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• July 28, 2009
• 9:33

  Existing Home Sales Still Rising

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Existing-Home Sales Up Again Washington, July 23, 2009

  Existing-home sales rose for the third consecutive month with inventory easing and home prices declining less sharply in June, according to the National Association of Realtors®. Existing-home sales – including single-family, townhomes, condominiums and co-ops – increased 3.6 percent to a seasonally adjusted annual rate1 of 4.89 million units in June from a downwardly revised pace of 4.72 million in May, but are 0.2 percent lower than the 4.90 million-unit level in June 2008. Lawrence Yun, NAR chief economist, is hopeful about the gain.

  “The increase in existing-home sales occurred in all major regions of the country,” he said. “We expect a gradual uptrend in sales to continue due to tax credit incentives and historically high affordability conditions. Despite the rise in closed transactions, many Realtors® are reporting lost sales as a result of new appraisal standards that went into effect May 1 of this year.” A June survey of NAR members shows 37 percent experienced at least one lost sale as a result of the new Home Valuation Code of Conduct, with seven out of 10 reporting an increased use of out-of-area appraisers. Seventy percent of NAR appraiser members said consumers were paying higher fees, while 85 percent report a perceived reduction in appraisal quality.

  “Clearly the process needs to be revised, but the most logical approach is to use appraisers with local expertise, industry designations and access to local data, who make a physical examination of the property and use apples-to-apples comparisons with nearby home sales,” Yun said. “In many cases, normal homes are being compared with distressed homes sold at a discount, which often are in sub-par condition – this is causing real harm to both buyers and sellers.”

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 5.42 percent in June from 4.86 percent in May; the rate was 6.32 percent in June 2008. Mortgage interest rates have trended lower in recent weeks. Total housing inventory at the end of June fell 0.7 percent to 3.82 million existing homes available for sale, which represents a 9.4-month supply2 at the current sales pace, down from a 9.8-month supply in May.

  Raw inventory totals are 14.9 percent below a year ago. “This is another hopeful sign – if we can keep the volume of sales above the level of new inventory, prices could stabilize in many areas around the end of the year,” Yun said. An NAR practitioner survey in June showed first-time buyers accounted for 29 percent of transactions, unchanged from May, and that the number of buyers looking at homes is up nearly 12 percentage points from June 2008. NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said there are very good opportunities.

  “Despite some of the challenges, the housing market continues to demonstrate signs of recovery,” he said. “The temporary first-time buyer tax credit is clearly helping people make a decision and is contributing to the overall stimulus impact, but since it’s taking longer to close transactions, many would-be beneficiaries may not be able to take advantage of the credit before the December 1 expiration date.

  As a consequence, consumers need the expertise of Realtors® more than ever to navigate both the obstacles and opportunities in today’s market.” The national median existing-home price3 for all housing types was $181,800 in June, which is 15.4 percent below June 2008. Distressed properties, which accounted for 31 percent of sales in June, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes. Single-family home sales rose 2.4 percent to a seasonally adjusted annual rate of 4.32 million in June from a level of 4.22 million in May, and are 0.2 percent higher than the 4.31 million-unit pace a year ago.

  The median existing single-family home price was $181,600 in June, which is 15.0 percent below June 2008. Existing condominium and co-op sales jumped 14.0 percent to a seasonally adjusted annual rate of 570,000 units in June from 500,000 in May, but are 3.1 percent below the 588,000-unit level in June 2008. The median existing condo price4 was $183,300 in June, down 18.9 percent from a year ago.

  Regionally, existing-home sales in the Northeast rose 2.5 percent to an annual pace of 820,000 in June, but are 4.7 percent below a year ago. The median price in the Northeast was $249,400, down 5.9 percent from June 2008. Existing-home sales in the Midwest increased 0.9 percent in June to a level of 1.10 million but are 1.8 percent lower than June 2008. The median price in the Midwest was $157,000, which is 9.1 percent below a year ago. In the South, existing-home sales rose 4.0 percent to an annual pace of 1.81 million in June but are 3.7 percent below a year ago. The median price in the South was $163,200, down 11.9 percent from June 2008.

  Existing-home sales in the West improved by 6.4 percent to an annual rate of 1.16 million in June, and are 11.5 percent higher than June 2008. The median price in the West was $214,800, which is 24.9 percent below a year ago.

  The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.

    If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

   

• July 25, 2009
• 10:18

  The Bend Oregon Real Estate Market is Looking Up

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  There are more and more signs that the Bend Oregon real estate market may be hitting bottom. For the first time in over two years the unemployment in Deschutes County has declined.  Leading economist state that sustained reduction in unemployment is a sure sign a recession is over.  We’ll see what next month brings.

  Retail sales are on the rise.  Consumers are spending more money now than they have in a long time.  Retail sales bottomed out in April and have been on the rise every since.  Consumer confidence surveys show that consumer confidence is definitely on the up-swing.

  Economic leading indicators are also up. They bottomed out in May and are increasing monthly.  Leading indicators often predict what will happen to the economy in the future.

  Prices of homes sold in California are up 7% for the first time in over two years.  The California real estate market is a leading indicator as to what will happen to the Bend Oregon Real Estate Market.  The price of homes sold in Bend also rose slightly last month.  Time will tell on that one.  There are still plenty of bank foreclosures lined up for the next year.

  Prices of homes for sale in Bend are very attractive.  Interest rates are near all time lows and there are numerous signs that now is the time to buy real estate in Bend Oregon.

   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• July 19, 2009
• 11:57

  The Tradition Golf Tournament Welcomes Greg Norman

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Greg Norman, winner of 89 worldwide titles, including two British Open titles in 1986 and 1993, has committed to play in this years Tradition Golf Tournament at Sunriver Resort’s Crosswater Club. 

  During the 1990s, Norman held the No. 1 spot in the Official World Golf Rankings for 331 consecutive weeks. He is a three-time team member on the International team in the President’s Cup (1998, 2000 and 2002) and will serve as Team Captain for the 2009 President’s Cup team which takes place this October.

  The Tradition is one of five major championships on professional golf’s over-50 circuit.  The 54 year old Norman is a 20-time winner on the PGA Tour and a member of the World Golf Hall of Fame.  This is Norman’s first appearance in the Tradition.  For more information go to The Bend Oregon Tradition Golf Tournament.

  Many people move to Bend Oregon for the golf.   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• 9:24

  Bend Oregon Photography

   » ‎ Bend Oregon Real Estate Blog

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  Bend Oregon Photography is a highly competitive business.  Anyone with a camera can call themselves a photographer.  If you are looking for a professional photographer in Bend Oregon or any place in the world that does quality work I would highly recommend Alan Huestis at Studio 404.

  Owner and photographer Alan Huestis has shot for clients around the world and is a well-known landscape photographer in the West.  With over thirty years of photographic experience, he is known for his ability to adapt to situations and capture a variety of moods. His experience includes portraiture, product, landscape and glamour photography.

  Videography

  Alan Huestis also provides broadcast quality videography and post production utilizing an array of cameras and lighting equipment for clients around the world. His experience ranges from medical procedures, infomercials, documentaries, product promotionals, instructional, and corporate training tapes. He’s able to adapt to your needs and is willing to travel to remote locations to obtain needed footage for his clients.

  Whether you are traveling to Chile for a special event or having your wedding at Shevlin Park in Bend Oregon I highly recommend you contact Alan Huestis at Studio 404 to insure the photography and videography you require is the best possible quality.

  

   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• 7:18

  Cascade Cycling Classic

   » ‎ Bend Oregon Real Estate Blog

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  The Cascade Cycling Classic is becoming so popular it is turning away pro and elite racers who want to participate.  2009 will be the 30th year for the event.  For more information go to  Cascade Cycling Classic.  The Classic and bicycling is very popular in Bend. 

  Bend has hundreds of miles of bicycle lanes and mountain bike trails.  Many people move to Bend for the bicycling.   If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

• July 15, 2009
• 6:50

  Bend Oregon High Desert Classic

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  The Bend Oregon High Desert Classic starts today and runs through next week.  The High Desert Classic is a horse show that features hunting and jumping horses from across the Northwest.   Hunter classes judge the movement and the form of horses suitable for work over fences.

  A typical show hunter division would include classes over fences as well as “Hunter under Saddle” or “flat” classes (sometimes called “hack” classes), in which the horse is judged on its performance, manners and movement without having to jump.

  Hunters have a long, flat-kneed trot, sometimes called “daisy cutter” movement, a phrase suggesting a good hunter could slice daisies in a field when it reaches its stride out. The over fences classes in show hunter competition are judged on the form of the horse, its manners and the smoothness of the course.

  A horse with good jumping form snaps its knees up and jumps with a good bascule. It should also be able to canter or gallop with control while having a stride long enough to make a proper number of strides over a given distance between fences. 

  Bend Oregon is horse country and many people are moving to Bend and bringing their horses. If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

  For more information on the Bend Oregon High Desert Classic click here:  J Bar J

• July 07, 2009
• 22:07

  Central Oregon Real Estate

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Central Oregon real estate is one of the best investments a person could make right now.  Interest rates are near all time lows and prices are very affordable.

  If you have questions about Bend or Central Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend and Central Oregon real estate.

  

  If you’re thinking about buying a home in Central Oregon you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Central Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

   

• July 04, 2009
• 6:33

  Happy 4th of July

   » ‎ Bend Oregon Real Estate Blog

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  We hope you have a happy  and safe 4th of July. We would also like to thank the Bend Bulletin for supplying the fireworks that are fired off from the top of Pilot Butte every 4th of July.  It was on the news that our display of fireworks is the largest in Oregon.  This is only one of many reasons Bend is a great place to live.

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and click search.  You can use this blog as your search engine for Bend Oregon real estate.

    If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• July 03, 2009
• 21:49

  Sugarland Is Coming to Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  Sugarland is coming to Bend Oregon on Thursday, July 30, 2009!  One of the many reasons people are moving to Bend is the music.  For full details go to Bend Oregon Sugarland.

  If you have questions about Bend or Bend real estate just type in the subject of your question in the search box in the right hand column and hit search.  You can use this blog as your search engine for Bend Oregon real estate.

    If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• June 30, 2009
• 15:09

  Homes for Sale in River’s Edge in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  One of the nicest residential neighborhoods in Bend Oregon is River’s Edge golf community. River’s Edge is a partially gated community on Awbrey Butte on the West side of Bend.

  The lower part of this quality community is gated and some homes front on the Deschutes River across from the River House Resort and convention center while other homes front on the golf course.

  Spectacular scenery abounds from the homes along this par-72 course. If you’re looking for gorgeous views and a challenging course Bend Oregon’s River’s Edge is the place.

  There are currently nine homes for sale in River’s Edge. Most of these homes are in the upper level which is not gated. These homes range in price from $399,900 to $759,500. Here’s a virtual tour of a top quality golf course home priced in the mid $500s.

  If you have questions about Bend or Bend real estate just type in the subject of your question in the search box in the right hand column and hit search.  You can use this blog as your search engine for Bend Oregon real estate.

    If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• June 25, 2009
• 21:31

  Sunrise Village in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  Sunrise Village in Bend Oregon is a quality gated community in SW Bend, close to downtown, on the way to Mount Bachelor and close to the Deschutes National forest.  Quality homes are nestled among huge Ponderosa and Lodgepole pine trees.

  It features:

  • Tennis Courts
  • Children’s Playground with Swings and Play Structure
  • Deschutes River - Private Access
  • Hiking Trails
  • Community Lodge (available for private rental)
  • Swimming Pool/Spa/Sauna
  • Private Roads
  • Community Storage Yard for Boats, Travel Trailers, etc.
  • Access to the Deschutes River Trail
  • Security Gate
  • Security Patrols

  The private access to the Deschutes River provides some prime fishing.  Several years back I caught a 19 inch German Brown Trout while fishing the salmon fly hatch.  Sunrise Village is a spectacular neighborhood which features riverfront homes, mountain views and privacy.  The large sized lots give the feeling of living in the forest.

  If you have questions about Bend or Bend Oregon real estate just type in the subject of your question in the search box in the right hand column and hit search.  You can use this blog as your search engine for Bend Oregon real estate.

    If you’re thinking about buying a home in Sunrise Village you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• June 23, 2009
• 21:07

  Good News for Bend Oregon Real Estate

   » ‎ Bend Oregon Real Estate Blog

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  There are more and more signs of a potential bottom to the Bend Oregon real estate market.  Even though mortgage interest rates rose for 3 consecutive weeks they fell again last week.  Rates are great right now and still below 5.5%.

  Leading indicators which signal things to come in the U.S. economy were up 1.2% in May.  They were up for two consecutive months now.  Median prices of homes sold in Bend for the month of May were up 11% and inventory of homes under $300,000 has decreased over the last three months.

  Notices of default are down for the last two months.  A notice of default is a legal filing by a lender of it’s intention to foreclose on a home.  Notices of default hit a record high in April but have fallen for the last two months.

  Another indicator I use to judge the Bend Oregon real estate market is the number of daily visits I have to my web site.  In February I was averaging 31 visits a day.  Today I’m averaging 46.6 visits a day.  75.7% of those visits are first time visitors.  This shows me that there is an enormous amount of interest in Bend real estate.

  Now is the time to buy.  Mortgage interest rates are near all time lows.  Prices of homes are very affordable.  There are numerous signs that this is the bottom of the Bend Oregon real estate market.

  If you have questions about Bend or real estate in Bend just type in the subject of your question in the search box in the right hand column and hit search.  You can use this blog as your search engine for Bend Oregon real estate.

    If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• June 20, 2009
• 6:53

  Answers to Your Bend Real Estate Questions

   » ‎ Bend Oregon Real Estate Blog

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  If you have questions about Bend real estate look no further.  You can use this blog as your real estate search engine for all of your Bend real estate questions.  Simply type in the subject of your question in the search box in the right hand column of this blog and click search.

  The most current posts to my blog on the subject you are interested in will appear on your screen.  Type in bank foreclosures, click search and posts on Timing the market, Bend Oregon Bank foreclosure inventory, how to negotiate on a bank foreclosure and several other posts relevant to foreclosures will appear on your screen.

  You can also find information about fishing, the Deschutes River, Awbrey Butte, Broken Top, riverfront homes, golf course homes, horse properties, short sales etc.  You name it and hopefully the information will be here.

  If you can’t find the answer you are looking for feel free to call or e-mail me with your questions about Bend real estate.  I’ll do my best to find an answer.  Good luck in your search for Bend real estate.

  If you’re thinking about buying Bend real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• June 17, 2009
• 11:43

  RiverRim in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  RiverRim in Bend Oregon is one of the nicest neighborhoods in SW Bend. RiverRim homes range in price from $219,000 to over $1.5 million.  The less expensive homes are closer to Brookswood and the more expensive homes are closer to the Deschutes River.

  RiverRim is a very nicely designed neighborhood with nice common areas with lots of wild flowers and a city park.  Elk Meadow Elementary School is just across the street on Brookswood.

  RiverRim has a neighborhood park and a 5 acre wildlife park with trails.  It’s also close to the Old Mill District and downtown Bend.  There are some really great buys available in RiverRim right now due to the economy.  If you are considering buying a home in RiverRim now is the time.

  RiverRim also has good Covenants, Conditions and Restrictions (CC&Rs) which protect neighborhood real estate values.  One restriction is that there are no rentals allowed.  So there tends to be more pride of ownership.

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• June 14, 2009
• 17:16

  Prescott Arizona Naturopathic Doctor

   » ‎ Bend Oregon Real Estate Blog

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  If you are looking for a Naturopathic Doctor in Prescott Arizona I would highly recommend Dr. Laura Kennedy at Health Walk Medical Clinic. 

  Laura Kennedy, NMD, Dipl.Ac. (NCCAOM)
  Dr. Laura Kennedy completed doctoral training at Southwest College of Naturopathic Medicine in Tempe, AZ. She is accredited as a Diplomat in Acupuncture through NCCAOM and finds that this modality complements her Naturopathic training and serves as an area of expertise.

  Dr. Kennedy believes that each person has the ability to tap into their own healing potential and works to guide and refine that journey individually.  She embraces not only the abundant opportunity for outdoor activities, but the warm and generous spirit of the Prescott community.  For questions and other inquiries contact Dr. Kennedy

  Clinic Information

  920 Black Dr.
  Prescott, AZ 86305Office:    928.445.4995
  Fax:        928.778.5022
  For Information and general inquiries Hours:
  Monday - 9:00- 5:00
  Tuesday - 9:00 - 5:00
  Wednesday - closed
  Thursday - 9:00 - 5:00
  Friday - 9:00 - 5:00
  Home visits and other hours available by appointment.

   

• June 12, 2009
• 11:40

  More Signs of Recovery In Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  Another sign of recovery for the Bend Oregon economy is the fact that personal income was up nation wide in April.  That is the first rise in personal income this year.  We are seeing more and more out of state buyers moving to Bend. 

  I continue to see increased activity in the Bend Oregon real estate market.  Out of the last eight offers I have recently written three had multiple offers.  Two homes sold after being on the market for 2 days. These homes were priced right and sold quickly.

  I currently have seven sales in escrow.  Four of these sales are bank foreclosures. 
  Approximately 2 bank owned homes are selling in Bend each day.  One of my foreclosure sales is a new 4,000 square foot home on Awbrey Butte.  The other is a nice 3 bedroom 2 bath home that sold for $125,000.

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate. 

  

  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• June 09, 2009
• 6:57

  Home Mortgage Interest Rates Are Rising

   » ‎ Bend Oregon Real Estate Blog

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  If you’ve been waiting for interest rates to fall lower before you buy a home you may have waited too long.  30 year fixed rate mortgages surged to 5.29% last week.  That is still a great interest rate but off of the lows that bounced on 4.5% a few months ago.

  I currently have several sales in escrow that have locked in rates of 4.75% interest.  We may not see these rates again for years.  You can still ask the seller to pay discount points and buy down your loan to 4.75%.  Don’t wait for the rates to go lower.  It may not happen this year.

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• June 07, 2009
• 6:32

  Home Sales Rising

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Below is an article just released by the National Association of Realtors. 

  Pending Home Sales Up for Third Month in A Row

  WASHINGTON, June 02, 2009

  Record low mortgage interest rates boosted pending home sales for the third consecutive month, with some benefit now from the first-time buyer tax credit, according to the National Association of Realtors^®.

  The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in April, rose 6.7 percent to 90.3 from a reading of 84.6 in March, and is 3.2 percent above April 2008 when it was 87.5.

  Lawrence Yun, NAR chief economist, said buyers are responding to very favorable market conditions. “Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market,” he said. “Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers.”

  The Pending Home Sales Index in the Northeast shot up 32.6 percent to 78.9 in April and is 0.8 percent above a year ago. In the Midwest the index rose 9.8 percent to 90.4 and is 11.1 percent above April 2008. The index in the South slipped 0.2 percent to 93.0 in April but is 3.5 percent higher than a year ago. In the West the index rose 1.8 percent to 94.8 but is 2.9 percent below April 2008.

  NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said there are numerous buyer assistance programs around the country. “Some states are offering bridge loans that allow first-time buyers to use the tax credit for down payment and closing costs, but there are many other local government and nonprofit programs available to buyers, depending on location,” he said.

  “Just last week, HUD announced that qualifying buyers can use the tax credit for closing costs on FHA loans, to buy down the interest rate or make a larger down payment. Buyers who are wondering about their options should contact a Realtor^®, who can advise consumers on the housing assistance programs and resources available in a given area.”

  NAR’s Housing Affordability Index² is in record territory. The affordability index rose to 174.8 in April from an upwardly revised 171.9 in March, and was the second highest monthly reading on record after peaking at 176.9 in January of this year. The HAI is a broad measure of housing affordability using consistent values and assumptions over time, which examines the relationship between home prices, mortgage interest rates and family income; tracking began in 1970.

  A median-income family, earning $60,900, could afford a home costing $296,800 in April with a 20 percent down payment, assuming 25 percent of gross income is devoted to mortgage principal and interest. Affordability conditions for first-time buyers with the same income and small down payments are roughly 80 percent of that amount. The affordable price was well above the median existing single-family home price in April, which was $169,800.

  Yun cautions that the reporting sample for pending home sales is smaller than that of existing-home sales, so it is subject to greater variability. “In addition, the relationship between contracts on pending home sales and closings on existing-home sales is taking longer than in the past for several reasons,” he said. “Mortgage processing time has increased, it is taking many months to close on those homes requiring short sales with lender approval, and some sales are falling through at the last moment.”

  The total number of existing-home sales is expected to improve but with dramatic local market variation in the timing of recovery. “The market has already bottomed in some areas, but this is an unusual housing cycle with some areas improving rapidly while others languish or decline,” Yun said.
  ________________________________________________________________

  Home sales are rising in Bend Oregon as well.  A large percentage of these sales are bank foreclosures.  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• June 05, 2009
• 5:44

    The ...

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

    The seventh annual Northwest Community Balloons over Bend is the only event of it’s kind in Central Oregon. This fantastic display of beauty and magic comes together over the skies of Bend on June 5th, 6th, and 7th, 2009 at The Old Mill District. The event kicks off on Friday June 5th with a media flight which allows local media personalities to take a test flight with some of the pilots and promote the event to the public. The skies overhead will also be full of balloons on this day, getting the region excited about the festivities to come. Saturday morning begins with a balloon launch at sunrise from the Les Schwab Amphitheater, weather permitting. Click here for launch information. Early risers are treated to a truly spectacular display as over 20 hot air balloons inflate and begin their float through the Central Oregon sky against the picturesque Cascade Mountain Range. Later that morning the party starts again at The Old Mill District with live music, a children’s area, delicious food, beer garden and various vendors. New this year will be a Street Art Exhibition featuring local and regional artists creating masterpieces on the sidewalks.Saturday evening the sky over The Old Mill District comes alive with the Night Glow. This is an opportunity to get up close and personal with the balloons as they inflate at sundown and provide a spectacular show of colors and patterns against a magical night sky. Balloons over Bend is only one of the many reasons people move to Bend.  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL  
• 4:47

  Deschutes River Salmon Fly Hatch

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  The Deschutes River salmon fly hatch in on!  This time of year (early June) is usually when the salmon flies start hatching on the lower Deschutes.  One of the most popular stretches to drift is from Warm Springs to Trout Creek.

  It’s an easy one day trip and the fishing can be hot and heavy if you hit the hatch at the right time.  Big red sides start looking to the surface for the big flies and they are usually close to shore so you don’t have to be a master fly caster to catch plenty of fish.

  The first time I ever fly fished the salmon fly hatch we were late.  The fish were gorged and the hatch was pretty much over.  I was walking along the bank and saw a good hole right next to shore.  All I had out was leader so I just plopped my Sofa Pillow down in the center of the hole and boom!

  A 20 inch red side exploded on the fly and took off down stream.  Long story short ten minutes later I released a beautiful 20 plus inch red side.  The guy I was fishing with was around the other side of an island and didn’t see the fish.  He never did believe I caught one.  These big dry flies are really fun to fish!

  

  Many fishermen move to Bend for the trout fishing.  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate. 

  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• June 03, 2009
• 5:43

  Bend Oregon Churches

   » ‎ Bend Oregon Real Estate Blog

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  Bend Oregon churches are numerous.  This shows the great diversity of our community and the loving spirit found here.  Below you will find a partial list of churches available in Bend.

  ASSEMBLY OF GOD Faith Christian Center, Bend, 382-8274Southside Assembly of God, Bend, 389-4749 BAPTIST American Baptist Church, 385-9363Crossroads Community Church, 382-1063Desert Hills Free Will Baptist Church, 382-7740Eastmont Church, 382-5822 First Baptist Church of Bend First Baptist Church of Tumalo, 388-2206First Missionary Baptist Church, 382-6081Grace Baptist Church, 382-6351 Juniper Baptist Association, 382-6120 High Desert Baptist Church, 388-4178 River Woods Baptist Church, 383-2206 Victory Baptist Church, 318-6350   BUDDHIST Rimay Buddhist Retreat Center, 322-0327 CALVARY CHAPEL Calvary Chapel of Bend, Bend, 383-5097Deschutes Christian Fellowship  CATHOLIC St. Francis of Assisi Church, Bend www.stfrancisbend.org  CHRISTIAN Discovery Christian Church, Bend, 382-2272Pilot Butte Christian Church, Bend, 389-1441 Real Life Christian Church, Bend www.real-lifecc.org  CHRISTIAN SCIENCE First Church of Christ, Scientist, Bend, 382-6100 CHURCH OF CHRIST 27th Street Church of Christ, Bend, 382-0892Cascade Community Church of Christ, Bend, 389-7691Church of Christ, Bend, 388-0401 CHURCH OF GOD Church of God, Bend, 382-1632 Pentecostal Church of God, Bend, 382-8791  CHURCH OF JESUS CHRIST OF THE LATTER-DAY SAINTS Bend Oregon Stake, 382-9947Cascade Crest Ward, 383-4240High Desert Ward, 382-3971Mt. Bachelor Ward, 382-0606River Bend Ward, 330-0283Redmond Oregon Stake, 548-2436 Prineville First Ward, 447-4110 COMMUNITY Alliance Community Church, Bend, 382-0268(Christian & Missionary Alliance)Celebration Community Church, Bend, 330-9757Compass Community Church, 383-3363Fellowship Community Church, Bend, 382-5291Harvest Community Church, Bend, 382-4332Tumalo Community Church, Bend, 383-1845 Vineyard Christian Fellowship, Bend, 389-8820  ECKANKAR Religion of the Light and Sound of God, Bend, 389-5457  EPISCOPAL St. Paul’s Anglican Church, Bend, 388-5643Trinity Episcopal Church, Bend  EVANGELICAL Cascade Covenant Church www.cascadecovenantchurch.orgFellowship Bible Church, 382-5291 New Hope Church www.NewHopeOnline.net  FOURSQUARE Westside Church, Bend www.westsidechurch.org FRIENDS The River-Bend Friends Church, Bend, 388-3669 INTERDENOMINATIONAL New Life Family Center, Bend, 312-2085Oasis Church, Bend, 322-9392 JEHOVAH’S WITNESSES Jehovah’s Witnesses, Bend, 330-8290 JEWISH CHRISTIAN Beth Simcha Messianic Congregation, Bend, 385-5439JEWISHThe Baha’I Faith of Bend, 388-1467Jewish Community of Central Oregon, Bend, 385-6421  LUTHERAN Christ Our Redeemer Evangelical Lutheran Church, Bend, 382-7387 First Lutheran Church of Bend, 382-6862 Nativity Lutheran Church, Bend www.nativityinbend.orgTrinity Lutheran Church, Bend, 382-1832  METHODIST First United Methodist Church, Bend, 382-1672 Free Methodist Light and Life Church of Bend, 382-8411 NAZARENE Bend Church of the Nazarene, 382-5496 Sisters Church of the Nazarene, 389-3588  NEW THOUGHTSpiritual Awareness Center, Bend, 388-3179 NON-DENOMINATIONALBend Christian Fellowship, 382-6006 Bend Faith Center, 318-0715Cascade Praise Christian Center, Bend, 389-4462 Central Oregon Miracles Center, 389-1580The Fellowship at Bend, 771-0199 OPEN BIBLE STANDARDChristian Life Center, Bend www.clcbend.com PENTECOSTAL Bend Pentecostal Church of God, 382-8791United Pentecostal Church of Bend,  PRESBYTERIANFirst Presbyterian Church of Bend www.bendfp.orgGrace Community Church, Bend, 382-1572 SALVATION ARMY The Salvation Army, Bend, 389-8888 SEVENTH-DAY ADVENTIST Seventh-day Adventist Church of Bend, 382-5591  UNITARIAN UNIVERSALIST  Unitarian Universalist Fellowship of Oregon, Bend www.uufco.or.uua.org UNITED CHURCH OF CHRIST All Peoples United Church of Christ, Bend, 388-2230 UNITY The Unity Center for Positive Living, Bend, 388-1569Many people are moving to Bend for its religious diversity.  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL 

• June 01, 2009
• 5:34

  Bend Oregon Dog Parks

   » ‎ Bend Oregon Real Estate Blog

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  Bend Oregon is one of the most dog friendly towns in the United States.  Bend may have more dogs per capita that any other town it’s size.  It now has 7 dog parks where you can legally let your dog run off leash.

  All of these areas are fenced so your dog can’t run off the premises. If you are looking for a place in Bend to legally run your dog off leash here’s a list of dog parks:

  Awbrey Reservoir 
  1115 NW Trenton

  Overturf Park
  475 NW 17th

  Riverbend Park
  799 Columbia Ave.

  Ponderosa Park
  225 SE 15th

  Pine Nursery Park
  3750 NE Purcell

  Big Sky Park
  21690 NE Neff Rd.

  Hollinshead Park
  1235 NE Jones Rd.

  If you are looking for a good place to move to that is dog friendly you should move to Bend Oregon.  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 30, 2009
• 5:13

  Mountain Bike Action in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  We are always bragging about our great mountain biking here in Bend.  Here’s what others have to say about it.

  There are plenty of great mountain bike towns in America, but most have a downside…That brings us to our pick for the best mountain biking town in America. A drum roll, please. Bend, Oregon.

  The place was originally named Farewell Bend, because early travelers were so bummed to continue their trip west. All the things that attracted those early pioneers are what attract mountain bikers today. Don’t believe us? We’ve got thirty-five reasons to back up our claim that Bend is the best mountain biking town in America.

  - Mountain Bike Action, April 2009

  Many people move to Bend for the mountain biking.  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 28, 2009
• 5:44

  Home Sales Rise in April

   » ‎ Bend Oregon Real Estate Blog

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  WASHINGTON, May 27, 2009

  Existing-home sales rose in April with strong buyer activity in lower price ranges, according to the National Association of Realtors^®.

  Existing-home sales – including single-family, townhomes, condominiums and co-ops – increased 2.9 percent to a seasonally adjusted annual rate¹ of 4.68 million units in April from a downwardly revised pace of 4.55 million units in March, but were 3.5 percent below the 4.85 million-unit level in April 2008.

  Lawrence Yun, NAR chief economist, said first-time buyers continue to influence the market but there also is a seasonal rise of repeat buyers. “Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the mid-price ranges, but high-end home sales remain sluggish,” he said. “The Federal Reserve needs to help restore liquidity for the jumbo mortgage market by buying these loans under the TALF program.”

  “Because foreclosed properties will likely be released into the market over the rest of year, it is critical that distressed homes be quickly cleared from the market,” Yun said. “Fortunately, home buyers are being attracted to deeply discounted prices and are bidding up many foreclosed listings, particularly in California, Nevada, and Florida – this will set the stage for healthy market conditions going forward.”

  An NAR practitioner survey in April showed first-time buyers declined to 40 percent of transactions, implying more repeat buyers are entering the traditional spring home-buying season. It also showed the number of buyers looking at homes has increased 14 percentage points from a year ago. “This is consistent with our forecast for home sales in the latter part of the year to be 10 to 20 percent higher than the second half of 2008,” Yun said.

  The national median existing-home price² for all housing types was $170,200 in April, which is 15.4 percent below 2008. Distressed properties, which accounted for 45 percent of all sales in April, continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes.

  NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth, said conditions are optimal for buyers with good jobs and long-term plans. “We have record low mortgage interest rates, a wide selection of homes and affordable prices in most areas,” he said. “When you add the $8,000 first-time buyer tax credit, it’s hard to imagine a better time to make an investment in your future through home ownership.”

  According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to a record low 4.81 percent in April from 5.00 percent in March; the rate was 5.92 percent in April 2008; data collection began in 1971.

  Total housing inventory at the end of April rose 8.8 percent to 3.97 million existing homes available for sale, which represents a 10.2.-month supply³ at the current sales pace, compared with a 9.6-month supply in March. “The gain in inventory is largely seasonal from sellers entering the spring market. Even with the rise, inventory over the past few months has remained consistently lower in comparison with a year earlier,” Yun noted.

  Single-family home sales rose 2.5 percent to a seasonally adjusted annual rate of 4.18 million in April from a level of 4.08 million in March, but are 2.8 percent below the 4.30 million-unit pace in March 2008. The median existing single-family home price was $169,800 in April, which is 14.9 percent below a year ago.

  Existing condominium and co-op sales increased 6.4 percent to a seasonally adjusted annual rate of 500,000 units in April from 470,000 in March, but are 9.4 percent lower than the 552,000-unit pace a year ago. The median existing condo price⁴ was $173,900 in April, down 18.5 percent from April 2008.

  Regionally, existing-home sales in the Northeast jumped 11.6 percent to an annual pace of 770,000 in April, but are 10.5 percent below April 2008. The median price in the Northeast was $237,400, which is 9.6 percent lower than a year ago.

  Existing-home sales in the Midwest slipped 2.0 percent in April to a level of 1.00 million and are 9.9 percent lower than a year ago. The median price in the Midwest was $138,800, down 11.7 percent from April 2008.

  In the South, existing-home sales increased 1.8 percent to an annual pace of 1.74 million in April but are 8.9 percent lower than April 2008. The median price in the South was $148,000, which is 12.8 percent below a year ago.

  Existing-home sales in the West rose 3.5 percent to an annual rate of 1.17 million in April and are 19.4 percent higher than a year ago. The median price in the West was $222,600, down 21.8 percent from April 2008.

  # # #

  NOTE: References to performance in states or metro areas are from unpublished raw data used to analyze regional trends; please contact your local association of Realtors^® for more information.

  ¹The annual rate for a particular month represents what the total number of actual sales for a year would be if the relative pace for that month were maintained for 12 consecutive months. Seasonally adjusted annual rates are used in reporting monthly data to factor out seasonal variations in resale activity. For example, home sales volume is normally higher in the summer than in the winter, primarily because of differences in the weather and family buying patterns. However, seasonal factors cannot compensate for abnormal weather patterns.

  Existing-home sales, which include single-family, townhomes, condominiums and co-ops, are based on transaction closings. This differs from the U.S. Census Bureau’s series on new single-family home sales, which are based on contracts or the acceptance of a deposit. Because of these differences, it is not uncommon for each series to move in different directions in the same month. In addition, existing-home sales, which generally account for 85 to 90 percent of total home sales, are based on a much larger sample – more than 40 percent of multiple listing service data each month – and typically are not subject to large prior-month revisions.

  Single-family data collection began monthly in 1968, while condo data collection began quarterly in 1981; the series were combined in 1999 when monthly collection of condo data began. Prior to this period, single-family homes accounted for more than nine out of 10 purchases. Historic comparisons for total home sales prior to 1999 are based on monthly single-family sales, combined with the corresponding quarterly sales rate for condos.

  ²The only valid comparisons for median prices are with the same period a year earlier due to the seasonality in buying patterns. Month-to-month comparisons do not compensate for seasonal changes, especially for the timing of family buying patterns. Changes in the composition of sales can distort median price data. Year-ago median and mean prices sometimes are revised in an automated process if more data is received than was originally reported.

  ³Total inventory and month’s supply data are available back through 1999, while single-family inventory and month’s supply are available back to 1982.

  ⁴Because there is a concentration of condos in high-cost metro areas, the national median condo price generally is higher than the median single-family price. In a given market area, condos typically cost less than single-family homes.

  Existing-home sales for May will be released June 23. The next Pending Home Sales Index & Forecast is scheduled for June 2; release times are 10 a.m. EDT.

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate. 

   

  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

   

• May 26, 2009
• 12:14

  Consumer Confidence Jumps

   » ‎ Bend Oregon Real Estate Blog

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  The Associated Press reported that consumer confidence soared as of May 19th to the highest level since last September.  Economists were expecting 42.3 and the level jumped to 54.9. Levels were at a historic low in February at 25.3, four short months ago.

  Consumer confidence is just another of many indicators that the Bend Oregon real estate market is close to hitting a bottom.  The average number of bank owned homes for sale in Bend has dropped from 115 to 75.  While the number of bank foreclosed homes sold has jumped from 30 a month to 59 as of the middle of May.

  More homes are selling and interest rates are near all time lows below 5%.  Plus first time home buyers get an $8,000 tax credit if they buy a home in 2009.  There’s still a great selection of well priced homes for the smart buyer to choose from.

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 22, 2009
• 7:26

  Good Times Via Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  With a proliferation of fine-dining restaurants, day spas, art galleries, and boutiques, the former mill town has attained a stellar reputation as one of the West’s vacation hot spots – a four-season, multi-sport haven where local diehards like to brag about being able to ski 25,000 vertical feet on Mount Bachelor before lunch and then go golfing or mountain biking in the afternoon.

  Outdoor retailer REI anchors the Old Mill District, a cosmopolitan mixed-use development with restaurants, shops, galleries, and the 96-room AmeriTel Inn, whose stone-and timbered lobby feels like the great room of a grand mountain lodge.

  - VIA Magazine, January/February 2007

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 19, 2009
• 8:03

  Journey To Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  We are always bragging about how great it is to live in Bend.  Here’s what others have to say about it.

  If you’re happiest pedaling, casting or swinging your clubs, consider Bend your primary destination on the West Coast, if not North America. How active is this town?

  As I spent an hour fishing just 10 minutes from town at Meadow Flats, a mild turn in the often cantankerous Deschutes River, at least a dozen mountain bikers, five runners and several hikers passed between me and the four people rappelling off the rock face 80 feet away…

  I quickly learn that, unlike most of us, Bendites don’t live for the weekend because they incorporate weekend activities (fishing, cycling, etc.) into their daily lives.

  - Journey, September/October 2008

  Bend is a great place to live!  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 17, 2009
• 5:50

  Mortgage Interest Rates Remain Low

   » ‎ Bend Oregon Real Estate Blog

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  Mortgage interest rates have remained below 5% for the last 9 weeks.  Interest rates this time last year were at 6.1%.  This summer is the time to buy homes in Bend Oregon.  There is a large selection of affordable homes and there are several signs that this may be the bottom of the Bend Oregon real estate market.

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 15, 2009
• 16:43

  Vacation In Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  Bend Oregon is a great place to live or vacation!  Here’s a magazine excerpt.

  Whether you spend the day hiking a glacier, scaling a sheer rock wall or prospecting for trout along the wide Deschutes River trail, Bend’s compact five-block downtown is a perfect place to recharge.

  Choose an outdoor table where you can kick up your feet with a brewery-fresh Hefeweizen and chat with the friendly locals. They’ll seem genuinely glad you made it out to their desert town and will willingly offer up their opinion on where you should go tomorrow.

  - Endless Vacation, September/October 2008

  Bend Oregon is a great place to live! 

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 13, 2009
• 7:26

  Bend Oregon Home Sales Rise

   » ‎ Bend Oregon Real Estate Blog

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  Sales of homes is Bend Oregon rose 12.9% in April compared to April 2008.  The price per square foot was down to $105 per square foot however.  That’s a decrease of 32.3% from last year at this time.

  What does all of this mean?  It means it is time to start thinking about buying a home in Bend.  The price per square foot was down but this can be attributed to the fact that there are more lower end homes selling.  This brings down average price per square foot.

  Interest rates are near an all time low and prices are very affordable.  There are also many homes to choose from.  I don’t think it gets much better than this for buyers.  We are definitely in a strong buyer’s market.

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 10, 2009
• 6:15

  Mortgage Rates In Bend Oregon Are Still Great

   » ‎ Bend Oregon Real Estate Blog

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  Mortgage interest rates bumped up a little last week but have remained below 5% for the last two months.  Interest rates below 5% are outstanding and will head back up at the first sign of a recovery. 

  That recovery may be happening right now.  Sales of homes in Bend rose 17.2% this past April as compared to the same month last year.  The number of Bend Oregon Bank Foreclosures for sale in Bend has fallen 30.6% in the last 30 days.  The current number of bank owned homes for sale in Bend is now 88 vs. 115 this time last month.

  There are many signs pointing to the possibility that the bottom of the Bend Oregon real estate market may soon be here.  You never know for sure until after prices start to rise.  Personally, I wouldn’t wait for prices and interest rates to rise.  I would be buying right now!

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• 4:34

  Home Sales Picking Up

   » ‎ Bend Oregon Real Estate Blog

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  California real estate sales have always been a leading indicator as to what our Bend Oregon Real estate market will be doing in the future.  One of the first and hardest hit markets was the Sacramento real estate market.  It was just announced that homes sales in Sacramento were up 45% in April over last year.  That’s huge and a sign of things to come in Bend.

  Now is the time to buy a home in Bend.  Prices are very affordable and interest rates are near all time lows.  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 08, 2009
• 15:31

  Inventory of Bend Oregon Bank Foreclosures Decreasing

   » ‎ Bend Oregon Real Estate Blog

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  The number of BEND OREGON BANK FORECLOSURES for sale is decreasing.  Foreclosure sales are increasing rapidly.  Last month the inventory of Bend Oregon Bank foreclosures listed for sale in the Central Oregon Multiple Listing Service was staying around 110 to 115. 

  The inventory of bank owned homes for sale has been hovering around 95 for the last couple of weeks.  Just a few weeks ago I posted that there were about 30 bank owned homes sold in a month.  There have been 45 sold in the past 30 days as of today!

  That is a 50% increase is sales and an 18% decrease in the number of homes for sale.  It won’t be long before all of those sitting on the fence will realize they should have bought something when there was a larger choice and interest rates were lower. 

  Some of the best buys in Bend are foreclosures and they are selling fast.  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 06, 2009
• 6:56

  Pending Homes Sales Rise

   » ‎ Bend Oregon Real Estate Blog

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  U.S. pending homes sales were 3.2 percent higher in March over March 2008 according the National Association of Realtors. This is just another sign that we are nearing the bottom of the real estate market. Sales activity in Bend is also on the rise.

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 04, 2009
• 21:11

  Bend Oregon Pole Peddle Paddle 2009

   » ‎ Bend Oregon Real Estate Blog

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  Pole Pedal Paddle in Bend Oregon is an annual event that is a multi sport race.  It starts on Mt. Bachelor where contestants run up hill to their alpine skis.  Then ski down hill and then switch over to cross country skis.

  Contestants then cycle down to Bend, run a long distance, paddle the river and then sprint to the finish.  There are different age groups and all kinds of different categories.  It’s mostly for fun but some take it very seriously.  For full details and or to register for the race go to Pole Pedal Paddle.

  Pole, Peddle, Paddle is one of the many reasons people live in Bend Oregon.  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 03, 2009
• 8:56

  Mortgage Interest Rates Remain at All Time Low

   » ‎ Bend Oregon Real Estate Blog

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  Mortgage interest rates fluctuate daily but tied all time lows last week.  The average was 4.78% for 30 year fixed but I locked in some of my clients at 4.75% and 4.6825%. 

  To top that off first time buyers get a tax refund of $8,000 if they buy a house this year and prices are now very affordable.  It doesn’t get any better than this!

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• 5:24

  Ski Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  We are always bragging about the great skiing we have here is Bend.  Our great skiing is one reason people are moving to Bend.  Here’s what others have to say.

  A white winter and plenty of ways to enjoy it are two things, like many aspects of life around here, that haven’t changed in the 50 years that Bachelor has been open…It’s no surprise that, for a while, one person was moving to Bend every two hours.

  The great influx has slowed, but the reason most of them came remains: the bounty of a Pacific Northwest winter…I let Ralph go first and he disappears in a cloud of snow. It’s the end of the day and we’re skiing untracked lines right to the parking lot. No need to pinch myself. The first face shot felt real enough.

  -Ski, February 2009

  If you’re thinking about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• May 02, 2009
• 14:37

  Bend Oregon Weddings

   » ‎ Bend Oregon Real Estate Blog

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  Bend Oregon weddings are quickly becoming very popular!  The weather is usually dependable during the months of June, July and August and there are many great places to have the ceremony and rehearsal dinners.

  My daughter was married at Aspen Hall  on Bend’s west side.  It was a beautiful outside ceremony with ample parking and both inside and outside facilities.  You can only reserve Aspen Hall one year in advance so Tiffany was in line at the Bend Park and Rec building 30 minutes before it opened one year before her preferred date.  She got it!

  There are also several rural acreages that host weddings even though I would check with Deschutes County about the legality of that.  It would be a shame to have your wedding shut down by the police!

  One of the most important items of your wedding is the brides gown.  Tiffany got her wedding dress at Bella Brides in Bend.  She was very happy with the quality and service she received from Bella Brides.

   Bella Brides provides gowns, bride’s maid dresses and accessories, flower girl dresses, ring bearer pillows, garters,  mother’s dresses, shoes, tiaras, veils and all other accessories!   Contact Nicole for all your wedding needs!  Phone  541-330-7090

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS -  Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

   

• May 01, 2009
• 9:27

  Signs of Recovery in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  There are more and more signs of a recovery to the economy and the real estate market in Bend Oregon!  The Conference Board showed a huge increase in consumer confidence in it’s latest survey.  The rate of price decreases in real estate nation wide is slowing.

  The number of active listings of Bend Oregon Bank Foreclosures is decreasing.  As the number of pending sales of these bank owned homes increases.  The average sales price per square foot is leveling off around $101-$102 per square foot.  Smaller homes sell for more and larger homes sell for less per square foot.

  Home prices are very affordable again and interest rates are near all time lows.  Now is a great time to buy a home in Bend Oregon.  First time home buyers even get an $8,000 tax credit when they buy.  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service  Call or e-mail today!   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• 6:37

  Bend Oregon Today

   » ‎ Bend Oregon Real Estate Blog

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  People describe Bend – with its easy access to an array of outdoor activities, including skiing, biking, white-water rafting and kayaking, hiking, golf and world-class fly-fishing – as ‘the new Boulder,’ a reference to Colorado’s athletic mecca. Mount Bachelor, one of the Northwest’s top ski resorts, is just 22 miles from downtown, and the city is surrounded by volcanic peaks.

  Benders take the outdoors – and their beer – seriously, with 71 parks, 48 miles of in-town trails and four microbreweries.

  - USA Today, May 23, 2008

  Bend Oregon is a great place to live!  If you’re serious about moving to Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 30, 2009
• 6:15

  Sunset in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  Whoever visits Bend, moves to Bend, people warned me. So frequently, in fact, that I took it to be the official motto of this always sunny central Oregon playground – a blessedly bipolar high-desert home base, where you can trail run along the rushing Deschutes River in the morning and hit the snowy slopes of Mt. Bachelor in the afternoon.

  My kind of town…Bend remains a decidedly unpretentious community, where folks prefer moonlight snowshoes over movies, and unfussy hotel rooms run about $100 a night.

  - Sunset Magazine, February 2008

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 29, 2009
• 5:58

  Timing The Bottom Of The Bend Oregon Real Estate Market

   » ‎ Bend Oregon Real Estate Blog

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  Are you waiting to time the bottom of the Bend Oregon real estate market?  It is a very difficult thing to do.  Real estate statistics lag so far behind the market we never know when there was a bottom until we are coming out of it and prices are starting to rise. 

  Once that happens buyer competition increases.  You don’t know prices have started to go up until after the fact.  Then you have missed the bottom.  Buyer competition means multiple offers.  So that is one sign to look for.

  

  We are currently seeing multiple offers in today’s market.  I sold 5 properties in the past few weeks and 3 of the 5 had more than one offer.  Other Realtors are also seeing multiple offers on well priced homes, especially bank foreclosures.

  Does this mean we have hit the absolute price bottom of the market?  Maybe!  Maybe not!  Only time will tell.  It does indicate there is pent up demand and buyers are jumping on good opportunities. 

  

  I do believe we are at or near the bottom of the Bend Oregon real estate market.  Strong buyer activity and multiple offers are a good indication.  Using the graph above I feel we are now in the “Lucky Zone.”  People who buy now and this summer will be as close to the bottom as humanly possible.  I may be wrong but I don’t think so. 

  Interest rates are near all time lows.  Consumer confidence is rising.  Prices are extremely affordable and Bend Oregon is one of the best places in the United States to live!

  There is still some fear out there.  It’s easy to buy when prices are rising rapidly.  But look what happened to the people who bought in the “Unlucky Zone.”  You can be lucky and smart by purchasing a home in Bend Oregon now.  It’s for sure “Safe” to buy real estate in Bend now.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 28, 2009
• 4:48

  Top Economists Say Recovery Has Begun

   » ‎ Bend Oregon Real Estate Blog

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  Economic recovery is about making people feel more confident, says Mark Zandi, chief economist of Moody’s Economy.com.Zandi evidenced increasing home sales and gains in the stock market are some promising signs that the worst is over and people will start spending again.

  “We’re starting to see some pent-up demand for goods,” he says.

  But Zandi warns that the situation is still fragile. “Confidence is a very fickle thing. It can go from abject pessimism that pervades now to a more balanced view of the world rather quickly.”

  Robert Brusca of FAO Economics is predicting strong growth in the last half of the year and a quick recovery for the labor market. “You’ve lost 5 million jobs. It shouldn’t be hard to put 2.5 million jobs back on rather quickly after you hit bottom,” he said.

  Joseph Carson, chief economist at AllianceBernstein, calls improving home sales, a rising stock market, and better-than-expected retail sales in February and March good signs of a turnaround. By the time President Obama’s stimulus package takes effect, the economy will be ready, he says.

  “The stimulus has a much better chance of working if trends are already turning up than if it needs to halt a decline,” he said.

  Source: CNNMoney, Chris Isidore (04/06/2009)

   

  Now is the time to buy a home in Bend.  Prices are very affordable and interest rates are near all time lows!  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 27, 2009
• 11:24

  Bend Oregon - Get Outside

   » ‎ Bend Oregon Real Estate Blog

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  Every place has its season – when living there makes you feel blessed. In Bend, one of the country’s fastest-growing cities, the showcase season happens to be, well, all of them. Take a midsummer night. It’s light until nearly 9:30pm……

  Plenty of time to lob Wooly Buggers into crisp holes on the Deschutes River after work or hop on a bike to catch Beck at the amphitheater. You can ski through May and mountain bike all year and 10,000-foot volcanoes dominate the skyline. And there’s a lot of good beer: five breweries for 67,000 people, plus swanky restaurants, art walks, and film festivals.

  - Outside Magazine, August 2007

  Bend is a great place to live!  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 26, 2009
• 5:32

  Bend Oregon - Great Stuff

   » ‎ Bend Oregon Real Estate Blog

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  Quietly lurking in the middle of Oregon, the town of Bend is a Boulder, Colorado, in the making. It is a place of unabashed outdoor worship. Residents and vacationers come to Bend because they like to ski, bike, golf, climb, kayak, fish, hike – and some will knock all those off in just one week.

  A classic Bend summer evening rolls in with a fuchsia-heavy, orange-tinged sunset that plunges into deep purples framed by clusters of Lodgepole pine and Douglas fir trees, with Mount Bachelor and the western Cascades silhouetted in the distance.

  - Seattle Metropolitan, February 2008

  Bend is a great place to live!  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 25, 2009
• 7:03

  Have Fun In Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  For the ambitious residents of central Oregon, winter does not liken to hibernation. Oregon’s heartland, located between the base of the Cascade Range and the expansive high desert, spreads out around the upscale city of Bend, epitomizing loveliness and outdoor opportunities. In the summer, locals pursue a frenzied excess of biking, hiking, golf and boating.

  When the snow flies, those endeavors simply segue into a similarly hyperactive pursuit of skiing, snowshoeing and sledding. Don’t be surprised if you find yourself pursuing the region’s truly most arduous activity – keeping up with the locals.

  - Skywest Magazine, November/December 2007

  Bend is a great place to live!  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 24, 2009
• 4:28

  Bend Oregon - America’s Top Mountain Biking Town

   » ‎ Bend Oregon Real Estate Blog

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  MOUNTAIN BIKE ACTION MAGAZINE NAMES BEND AMERICA’S TOP MOUNTAIN BIKING TOWN IN MAY 2009 ISSUE

  Bend Beats Out Other Popular Destinations Including Moab, Utah, Crested Butte and Durango, Colo., and Marin, Calif., For Top Honors

  (BEND, OR.)—It’s not even April, yet the May 2009 issue of Mountain Bike Action magazine is out and so is the secret about Bend’s mountain biking scene. In a feature story titled, “America’s Top Mountain Biking Town:

  35 reasons why Bend, Oregon, rules,” Mountain Bike Action (circulation 66,239)editors praised everything from access and lodging, to weather and friendly locals as reasons why they made their ultimate decision.

  “To prevail over such respected mountain biking destinations as those we were up against is a perfect example of Bend’s business community rallying together to support tourism and leave a positive and lasting impression on the editors that will reap rewards for years to come,” said Doug LaPlaca, president and CEO of Visit Bend. “From Cog Wild Bicycle Tours and Phoenix Inn, to Green Energy Transportation, Deschutes Brewery and several local bike shops and other businesses, this honor is truly a city-wide achievement.”

  During a four-day visit to Bend last September, editor-in-chief Jim McIlvain and assistant editor John Ker spent several days touring Bend with representatives of Visit Bend and Cog Wild Bicycle Tours. Their riding itinerary featured three full-day trips, including Cog Wild’s Ochoco Mountain, Cascade Lakes, and Bachelor-to-Bend tours.

  The May issue of Mountain Bike Action began arriving in subscribers’ mailboxes late last week, and will be available on newsstands in early April. It will also be  available on the Mountain Bike Action web site, www.mbaction.com.

  This latest news comes on the heels of Bend being touted as, “The cycling capital of the United States for the next two years” by VeloNews magazine (circulation 38,197) after Bend was awarded the 2009-2010 USA Cycling Cyclocross National Championships and Elite, U23 and Junior Road National Championships.

  Bend’s great mountain biking is only one reason people are moving to Oregon.  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 23, 2009
• 15:58

  The Bend Oregon Real Estate Market is Heating Up

   » ‎ Bend Oregon Real Estate Blog

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  It seems that the Bend Oregon real estate market is heating up with the weather.  Using Google Tools I track the number of visitors to our web site every day.  The last couple of months we have averaged 35 visitors a day.  Of these visitors about 75% are new visitors or about 26 new visitors each day.

  A new visitor is one that has never been to our web site before.  In the last 3 days we have had 142 visitors on our site and 110 of those were first time visitors.  Some clients return to our web site to search the MLS or use our helpful Bend Oregon Links in the right hand column.

  We are also seeing a large increase of buyers taking advantage of our New Listing Notification service.  That’s where we input a clients needs to the MLS computer and they automatically receive an e-mail as soon as a home that meets their needs comes on the market.

  There are some great buys on today’s market and interest rates are near all time lows. If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL
   

• April 22, 2009
• 6:27

  Kids Love Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  Kids and parents alike love Bend Oregon.  Thanks to Bend Park and Rec kids have many choices of healthy activities to keep them busy year round.

  Juniper Swim & Fitness Center offers swim lessons, snorkeling, fit kids yoga, parent-child-play, busy buddies club, junior lifeguard, family swim, water polo and synchronized swimming. 

  Outdoor Adventure Programs include trips for rock climbing, backpacking, camping, canoeing, kayaking, mountain biking, rafting, trackers ANW and girls go outside.

  Summer day camps include operation recreation, cougar camp, clubhouse, art station programs, theater, martial arts, Spanish camp, chess camp, summer strings, arts, crafts, cooking………..

  The list is endless and includes Youth Enrichment programs, Sports, Preschool Recreation and special recreation programs.  Bend is a great place to raise kids.  No wonder families from around the United States are moving to Bend and buying a home.

  If you’re considering moving to Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 21, 2009
• 9:19

  Bank Foreclosure Inventory Holding Steady in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  The inventory of Bank Owned Homes for sale in Bend Oregon seems to be holding fairly steady. Bank foreclosures for sale in Bend have been staying around 110 active listing.   They sell on the average of one a day and a new one comes on the market.  

  This morning there were only 96 active foreclosures.  Inventories may be falling but it’s too early to tell.  We are seeing more and more buyer activity as prices are very attractive and interest rates are near all time lows.  Now is a great time to buy a home in Bend.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 20, 2009
• 6:05

  Mortgage Rates Near All Time Lows

   » ‎ Bend Oregon Real Estate Blog

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  Mortgage rates in Bend Oregon are hovering around all time lows.  There is plenty of money available for a mortgage loan under 5% interest.  Now is the time to buy a home in Bend.  Some of the best buys available are bank foreclosures.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.

   

  Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 19, 2009
• 6:34

  Signs of a Possible Recovery

   » ‎ Bend Oregon Real Estate Blog

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  We may be hitting the bottom of this economic down turn.  Unemployment claims are down since early April.  Existing home sales are up 5.1% since January and the stock market is up over 24% in March.  We are also seeing more buyer activity in the Bend Oregon real estate market.  Especially in the sale of bank foreclosures.

  Now is the time to buy a home in Bend.  Prices are very attractive and interest rates are hovering around all time lows.  Mortgage money is readily available under 5% interest.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate. 

   

  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 18, 2009
• 8:04

  Bend Oregon Retirement

   » ‎ Bend Oregon Real Estate Blog

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  Bend Oregon is one of the best places to retire in the United States.  If you are considering retiring in Bend you should read this article.  It has everything a retired person could want. The recreational opportunities are abundant; everything from mountain biking, hiking, rafting, golfing, fishing, rock climbing, camping, downhill and cross country skiing, snowmobiling, general sightseeing and much more.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 17, 2009
• 6:22

  Home Builders Index Jumps

   » ‎ Bend Oregon Real Estate Blog

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  The National Association of Home Builders announced its housing market index posted its biggest one month gain in five years as many home buyers jumped on lower prices, low interest rates and incentives. 

  The the government reports that housing starts were down in March as compared to February.  This seems like a mixed message to me but it does look like we are nearing the bottom of this down turn.  Now is a great time to buy a home in Bend Oregon.  Prices are very affordable and interest rates are near all time lows.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 16, 2009
• 8:09

  Buying Bend Oregon Bank Foreclosures

   » ‎ Bend Oregon Real Estate Blog

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  BEND OREGON BANK FORECLOSURES - You should be aware of the procedure you go through when you buy a bank foreclosure.  All banks require the buyer to provide a check as earnest money, a pre-approval letter from a Mortgage Broker or proof of funds if you are paying cash.

  I have written 5 offers on bank owned homes in the last few weeks.  There was more than one offer on 4 of the 5 properties.  Statistics show the banks are only coming down about 5% off the current list price.    Some of the best buys on the market are bank foreclosures.  Interest rates are below 5% and there are some really great values available.  Take your time finding the right home but be ready to move fast when you find it. 

  If you’re serious about buying a Bend Oregon bank foreclosure you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today to receive up to the minute e-mails on new bank foreclosures.

   

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 15, 2009
• 4:34

  How To Find The Best Home Loan

   » ‎ Bend Oregon Real Estate Blog

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  Whether you are buying a new home or just refinancing your home, how do you find the best loan?  You should get a quote from two or three different lenders.  When you are getting a quote you should get it in writing. 

  You should get a good faith estimate and a Truth in Lending statement.  You should also ask for a 30 to 45 day lock.  The longer the better.  This means you lock in the interest rate you want for the period of time you need to close the loan. 

  Interest rates tend to change daily and if you don’t lock it in.  You may be facing a higher interest rate in the few weeks it takes to close the loan. Some lenders will lock in a rate and if it goes down they will give you the lower rate.

  After you have your three quotes the one thing you look at to compare lenders in the Annual Percentage Rate (APR) on the Truth in Lending statement.  The government requires lenders to quote an APR so you can compare all loans.  The APR is the interest rate plus all lender charges. 

  Recording fees, prepaid interest, reserve accounts etc are not calculated into the APR.  These costs are the same with all loans.  One lender may quote you a lower interest rate but his fees may be higher making another loan with a higher interest rate cheaper in the long run.  The APR is THE best and only way to compare loans.

  Make sure your lender can close within the lock period.  If they don’t close it by then you can loose your interest rate.  The market is picking up and some lenders are having trouble closing in 30 days.  Now is a good time to refinance or buy a home.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 13, 2009
• 20:20

  Obama Sees ‘Glimmer of Hope’

   » ‎ Bend Oregon Real Estate Blog

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  Last Friday President Obama stated that the economy has begun to show “glimmers of hope.”  There have also been other signs of a recovery.  Real estate sales have been up in many of the toughest hit markets which include Arizona, California and Nevada. 

  The trade deficit is down and many people are now refinancing their homes which will circulate more money into the economy.  Homes in Bend are very affordable and interest rates are near record lows.  Now is a good time to buy Bend Oregon real estate.  Bank Foreclosures are some of the best buys on the market.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 12, 2009
• 6:12

  Mortgage Rates Rise Slightly

   » ‎ Bend Oregon Real Estate Blog

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  Mortgage rates rose last week from an average of 4.78% to 4.87% on 30 year fixed rate mortgages.  Rates have been below 5% for four consecutive weeks and are still down by a full percentage point from a year ago.  Now is a good time to buy or refinance your home. 

  It’s best to get a Good Faith Estimate and a Truth in Lending statement from 2-3 different lenders to make sure you are getting the best Annul Percentage Rate (APR).  The APR is the number you should compare when getting the best loan.  It includes the interest rate plus all the fees each lender charges.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 11, 2009
• 18:16

  Time to Refinance

   » ‎ Bend Oregon Real Estate Blog

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  Interest rates on 30 year fixed mortgages are hovering around all time lows.  4.75% interest is easy to get and if you shop around you can get lower.  15 year fixed mortgages are even lower.  Now may be time to refinance your home if you plan on staying there for a few years.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 10, 2009
• 5:29

  Avoid Short Sales in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

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  If you are looking to buy real estate in Bend Oregon I would recommend you avoid Short Sales.  Short sales are not a bargain in today’s real estate market.  At the time of this article there had been 30 short sales closed in the last 60 days.  This is compared to 55 bank foreclosures that had closed escrow.
  
  The average sales price of the sold short sales was $126.65 per square foot as compared to $115.08 per square foot for the bank owned properties that sold.  The bank foreclosures were on the market for an average of 89 days.  The short sales were averaged 273 days on the market.  Days on the market starts the day the property is listed for sale until the day it closes in escrow.  Regular sales averaged $150 per square foot. 

  Another major problem with short sales is that have to wait months before you even know if your offer is approved by the bank.  The bank has to approve a short sale because the seller owes the bank more than the sales price of the property.  The bank takes the loss in a short sale.
   

  I am currently working on a short sale that is my listing.  The lender is Washington Mutual which was bought out by Chase during my marketing of this particular property.  The first offer that was accepted by my clients and awaiting bank approval was on December 17, 2008.  There were two back up offers.  This party withdrew their offer 40 days later without hearing from the lender.

  Then another back up offer was submitted to the bank.  During this period 2 other offers came in.  Both offers were substantially higher that the previous offers.  The best offer was then submitted to the lender on February 25, 2009.  One month and 6 days later the lender sent an e-mail to me stating that the offer was approved by them and that I should receive an approval letter within 7 business days.  I am not holding my breath on that one!

  My son and partner Matt Johnson made an offer on behalf of one of his clients.  At the time there were a total of five offers.  A few of these were good offers.  The buyers and brokers waited about 6 weeks to find out that the lender did not approve any of them and proceeded to foreclose on the property.

  There are only a small percentage of short sales that eventually close.  One reason is that the seller must prove there is a “hardship” and they don’t have the ability to make the payments.  Most lenders won’t even consider a short sale until the owner is behind in their payments.  Just because the owner owes more than the property is worth doesn’t mean the bank will approve a short sale.

  If the owner has the income or other assets the bank will not allow a short sale.  That’s not an absolute however.  If the owner falls behind in the payments and notifies the bank that they are going to let the property go into foreclosure the lender will sometimes allow the short sale.

  Even though some short sales eventually close they are not that great of a bargain.  I recently closed a bank foreclosure sale currently have 2 bank foreclosures in escrow.  The sale that closed countered our offer in 2 days and we put the sale together in 4 days.  It closed in 30 days and my client is extremely happy.
   

  The two sales that are in escrow went together as easily and will close soon.  All three of these bank foreclosures sales will have been put on the market, sold and closed before the previously mentioned short sale will close.  Bank foreclosures are better buys and you know you have purchased a home when the bank signs the offer.  They want to sell their foreclosures.  In fact they have to sell them.  

   

  My advice is to avoid short sales all together.  They may look like a good deal but they are not.  Bank foreclosures are the way to go.  In fact there are some realistic owners that are willing to sell their properties at very affordable prices.  Avoid the short sales!

   

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

   

• April 09, 2009
• 5:33

  More Positive Signs for Bend Oregon Real Estate

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  The Bend Bulletin reported more positive signs for the Bend Oregon real estate market on Tuesday.  Even though the annual values and number of sales were down the average price per square foot was up slightly.  We are also seeing a substantial increase in buyer activity.

  There are hundreds of buyers sitting on the sidelines waiting to buy homes in Bend.  I think we are starting to see those buyers enter the market now.  I feel they will gradually increase over the summer and as sales increase more and more buyers will realize now is the time to buy. 

  Another good economic indicator is that consumer borrowing fell more than expected in February.  This indicates people are starting to make more money and are not being forced to borrow money to pay their bills.

  Many buyers are finding BANK FORECLOSURES to be some of the best buys available in Bend.  Approximately 30% of the homes sold within the last 30 days have been bank owned homes.  Interest rates are at all time lows and prices are now extremely affordable.  Now is the time to buy a home in Bend Oregon.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 08, 2009
• 5:44

  Economic Indicators Look Good

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  The Commerce Department reported last week that orders for manufactured goods rose 1.8 percent in February, reversing six consecutive monthly declines.  Predictions of another drop did not materialize.  Other indicators came in higher than expected including construction spending and pending home sales.

  Prices of Bend Oregon homes are now very affordable.  Interest rates are near all time lows.  It keeps looking more and more like we will see the bottom of this down economy soon.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 07, 2009
• 5:27

  Mortgage Rates Reach All Time Low - Again

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Interest rates on 30-year fixed rate mortgages hit the lowest level on record since 1971.  The average rate hit 4.785.  That’s the average rate however and rate below 4.75% were easily obtainable.  Home prices are at very affordable prices, consumer confidence is up, manufacturing out put is up and the economy in general seems to be nearing a bottom. 

  Now is a great time to buy a home in Bend Oregon!  There are 113 Bend Oregon bank foreclosures available on the market.  There are more coming on the market every day but the same amount of bank owned homes seem to be selling daily.  The average number of foreclosures on the market has stayed around 110 for the last couple of months.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 06, 2009
• 7:46

  Bend Oregon Notices of Default Jump 156%

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  The Bend Bulletin reported that notices of default in Deschutes County jumped 156% from last year.  Notices of default are filed by lenders with Deschutes County when a homeowner is two to three months late in their mortgage payments.  These default notices usually lead to foreclosures. BEND OREGON BANK FORECLOSURES are some of the best buys on the market right now. 

  There are currently 113 bank owned homes on the market in Bend.  There’s almost one bank foreclosure selling every day.  That just about equals the number of new foreclosures coming on the market if you extrapolate from the number of default notices recently filed. 

  Smart buyers made a lot of money in the recession of the early 80s by buying bank foreclosures.  Smart buyers are making money right now buying real estate in Bend.  Interest rates are at all time lows.  Prices are very affordable and Bend is one of the best places to live in the United States.  The long term out look for investment in Bend Oregon real estate is extremely good.  There will always be a demand. 

  Due to the economic stimulus package economist are predicting high inflation rates in years to come.  You definitely want to own real estate in Bend when that hits.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 05, 2009
• 6:04

  Consumer Confidence Up

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Consumer confidence was up in March.  I look for it to rise sharply this summer.  Prices of homes in Bend Oregon are really attractive now and interest rates are at record lows.  I have been getting more and more contacts through my web site from prospective buyers.  Many of these buyers contact me for a free list of bank foreclosures.  There have been a lot of people who have been waiting and now they have decided to buy a home in Bend.  Home sales are picking up nation wide.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 04, 2009
• 6:11

  Bend Park & Recreation is Great Asset to Central Oregon

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  Thanks to the Bend Park & Recreation District Bend Oregon has some of the nicest parks of any large town I have ever seen.  At a population of approximately 75,000 people I’m not sure whether to call Bend a large town or a small city.  Which ever you call it, it is a great place to live!

  Here’s a list of the parks in Bend.

  Park & Trail Directory

  1. Al Moody - 2225 Daggett Lane
  2. Alpine Park Site - SW Swarens Ave./Century Drive
  3. Awbrey Village Park - 3015 SW Merchant Way
  4. Big Sky Park and Sports Complex - 21690 Neff Road
  5. Blakely Park - 1155 SW Blakely
  6. Brandis Square
  7. Brooks Park - 35 NW Drake Road
  8. Columbia Park - 264 SW Columbia Street
  9. Compass Park  - 2500 NW Crossing Drive
  10. Davis Park Site
  11. Deschutes River Trail
  12. Dohema River Access
  13. Drake Park - 777 NW Riverside
  14. Farewell Bend Park - 1000 SW Reed Market Rd
  15. First Street Rapids Park - NW First Street
  16. Foxborough Park - 61308 Sunflower Lane
  17. Gardenside Park - 61750 Darla Place
  18. Genna Stadium
  19. Harmon Park - 1100 NW Harmon Road
  20. Harvest Park - 63254 Lavacrest St.
  21. High Desert Park Site - Knott Road/27th
  22. Hillside Park - 2050 NW 12th Street/1116 NW Trenton Ave
  23. Hixon Park Block - 125 SW Crowell Way
  24. Hollinshead Park - 1235 NE Jones Road
  25. Hollygrape Park - Hollygrape Street
  26. Jaycee Park - 478 Railroad Street
  27. Juniper Swim & Fitness Center
  28. Juniper Park - 800 NE 6th
  29. Kiwanis Park - 800 SE Centennial Street
  30. Larkspur Park & Bend Senior Center - 1700 SE Reed Market Road
  31. Larkspur Trail  - 1700 SE Reed Market Road
  32. Lewis & Clark Park - 2520 NW Lemhi Pass Drive
  33. McKay Park - 166 SW Shevlin Hixon Drive
  34. Mt. View Park - 1975 NE Providence Drive
  35. Orchard Park  - 5th Street/ Seward Avenue
  36. Overturf Park  - 475 NW 17th Street
  37. Pacific Park (Administration Office) - 200 NW Pacific Park Lane
  38. Pageant Park - 691 Drake Road
  39. Park Services Center - 1675 SW Simpson
  40. Pine Nursery Park - East of Purcell Street at Empire Ave Intersection
  41. Pine Ridge Park Site - Intersection of Columbine Lane and Porcupine Dr
  42. Pine Tree Park Site - Intersection of Purcell Street and Empire Ave.
  43. Pioneer Park - 1525 Hill Street
  44. Ponderosa Park - 225 SE 15th Street
  45. Providence Park - 1055 NE Providence Drive
  46. Quail Park - 2755 NW Regency Street
  47. Riverbend Park - Columbia Street and Shevlin Hixon Drive
  48. River Canyon Natural Area
  49. River Rim Park Site - River Rim Drive
  50. Riverview Park
  51. Rock Ridge Park Site - NE 18th Street
  52. Sawyer Park - 62999 O.B. Riley Road
  53. Sawyer Uplands Park - 700 NW Yosemite Dr.
  54. Shevlin Park - 18920 Shevlin Road
  55. Skyline Park Sports Complex - 19617 Mountaineer Way
  56. Stover Park - 1650 NE Watson Drive
  57. Summit Park - 1150 SW Promontory Drive
  58. Sun Meadow Park - 61150 Dayspring Drive
  59. Sunset View Park - 990 Stannium Road
  60. Sylvan Park - 2996 NW Three Sisters Drive
  61. Three Pines Park - 19089 Mt Hood Place
  62. Tillicum Park/Chase Ranch - 18144 Couch Market Road
  63. Wildflower Park - River Rim Drive
  64. Woodriver Park - Woodriver Drive

  There are 9 additional undeveloped natural areas that BMPRD manages. Call 389-7275 for more details.  Bend Park and Rec also has many programs for children.  My kids played Park & Rec basketball and soccer when they were young.

  Juniper Swim & Fitness Center is owned and operated by Bend Metro Park and Recreation District. It is located in beautiful Juniper Park. Juniper is a community health, fitness and recreation facility open to people of all ages and abilities. It provides a positive, supportive and fun environment for the whole family! The state of the art facilities and quality fitness programs to ensure you Get Fit & Have Fun! 

  For more information on Bend Park and Rec you can click into their web site.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 03, 2009
• 6:39

  Recession Bottom May Be Near

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  WASHINGTON – “New signs that the recession could be nearing a bottom emerged Thursday, as factory orders were far better than expected and the Dow Industrials surged over 8,000 for the first time in two months.

  The Commerce Department said orders for manufactured goods rose 1.8 percent in February, reversing six straight monthly declines and easily beating estimates of another drop. Other economic indicators came in better than expected Wednesday, including construction spending and pending home sales.

  Meanwhile, world leaders meeting in London on Thursday pledged $1.1 trillion to global institutions such as the International Monetary Fund to combat the downturn. And the European Central Bank agreed to cut a key interest rate to a record low of 1.25 percent.”

  The preceding quote was from an article written By CHRISTOPHER S. RUGABER, AP Economics Writer Christopher S. Rugaber, AP Economics Writer

  I’m seeing increased activity in the real estate market.  Prices are down.  Interests rates are near all time lows and there are some affordable homes on the market.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 02, 2009
• 8:17

  Tightening Up on New Central Oregon Resorts

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  It’s about time they started tightening up on new resorts in Central Oregon.  Most of the resorts are really just gated golf course communities out in the country.  I for one hope they do tighten up on the rules and regulations for new “resorts”.  Current rules are just a way for developers to get around our residential zoning laws.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• April 01, 2009
• 6:16

  Time to Fix Mirror Pond

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  

  Mirror pond in downtown Bend Oregon continues to slowly fill with silt.  If this continues to happen without some of the silt being removed we will soon have mud flats which would eventually turn into wildlife habitat.  I’m not sure this is such a bad thing but there are plenty of people who would disagree.

  There are other solutions that might be more cost effective than just dredging the whole thing every 20 years or so and spending millions of dollars that we don’t have in these tough times.  One answer that sounds good to me is to remove some of the silt in strategic places and putting it where some of the “mud flats” are forming.  Thus helping the wildlife habit develop faster.

  If some of the places in the river had more current the silt would not build up in there.  None the less nothing happens fast when the government is involved and the local news paper reported it could be up to two years before a possible plan is in place.  In the mean time Mirror Pond and Drake Park are as attractive as ever.  Bend Oregon is a great place to live.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• March 31, 2009
• 6:27

  Real Estate Video News

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  If you are looking for real estate news just click on the preceding link to Realty Times.  It’s a video with up to date news on national and local real estate news including government programs, interest rates and sales statistics.  Sales nation wide are starting to pick up while prices are still low.  A great time to buy!

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• March 30, 2009
• 6:15

  Bend Oregon Mortgage Rates at Record Low

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Mortgage rates dropped to record lows this past week.  Rates on 30 year fixed home loans dropped to 4.85% after the Federal Reserve launched a new effort to boost the housing market.  I got quotes for a client of mine from two different lenders at 4.75 % with a large down payment.  Now is a great time to buy a home in Bend as prices are very attractive.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• March 29, 2009
• 6:12

  Bend Oregon Good for Startup Businesses

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Business Week magazine name Bend as the top mid sized city in Oregon for business start ups.  Bend currently has 5.56 start ups per 1,000 people and 62 small businesses per 1,000 people according to the article published Friday.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• March 28, 2009
• 7:10

  2009 Tour of Homes

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  It looks like the 2009 Tour of Homes in Bend Oregon is a go.  In spite of the slow real estate market there are 30 homes registered to be on the tour.  It is scheduled for July 17-19 and 24-26.  My prediction is that the Bend Oregon real estate market will have picked up substantially by then.  We’ll see.  Mean while bank foreclosure sales are picking up.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• March 27, 2009
• 7:56

  Central Oregon to Get Wind Farm

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  It looks like Central Oregon will be getting its’ first wind farm.  Crook County planning commissioners approved a proposed wind farm on West Butte which is west of Bend.  This approval is just the beginning as there is a few Sage Grouse in the area and their populations are on the decline.  We’ll keep our eye on the progress of this proposal.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• March 26, 2009
• 8:05

  Stock Market Watch

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Keep an eye on the stock market.  Once it starts up I think you will also see an uptick in real estate activity.  I’m seeing it happen right now.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• March 25, 2009
• 5:25

  The Bend Real Estate Market is Picking Up

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  The Bend Oregon real estate market is heating up.  I’ve written 4 offers on BANK FORECLOSURES in the last two weeks and will be writing another one today.  Three out of these five different buyers have cash. 

  I also have a buyer prospect list of 89 potential clients that will be coming to Bend over the next few months to buy a home.  Other Realtors are reporting a slight increase in activity.  Our aggressive Internet marketing is attracting more buyers to us.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-MAIL

• March 22, 2009
• 9:38

  Link Exchange - PR 4 Or Higher Link Exchange

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  I’m looking to exchange links with real estate or mortgage web sites that have a Google page rank of 4 or higher. 

  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.  E-mail

• March 20, 2009
• 13:50

  The National Real Estate Market

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Some “Stimulating” ThoughtsBy Lawrence Yun, Chief Economist, NAR ResearchJanuary home sales were down, no doubt due to worsening economic conditions. Job losses have accelerated, household wealth from home values and stock markets has tumbled, and consumer confidence was dismally low. In addition, with so much discussion about the stimulus package since the November election, some serious buyers have been holding back for clarity and certainty regarding the stimulus package before acting.Now that the stimulus package is passed, home sales, perhaps, will begin to turn around. We are very pleased with the housing stimulus measure of the up to $8,000 home buyer tax credit for first-time buyers. This clean tax credit (without the need to repay) can lift home sales by 300,000 before it expires in December 1st. The additional sales to first-time buyers will also trigger a chain reaction of trade-up and trade-down buyers. Furthermore, the restoration of a higher conforming loan limit means that more people can have access to low mortgage rates. The greater use of TARP funds for TALF operations will also help to keep mortgage rates at historically favorably levels. These policy measures - now certain - should bring buyers to the market.

  SupplyInventories generally increase in January after the holiday the season, but they declined 2.7 percent to 3.6 million from 3.7 million in December. The pace of new fresh listings has been dropping, so even with a decline in sales pace, the total listings on the market fell in January. Despite fewer homes on the market, the lower sales activity pushed up the months’ supply to 9.6 months. But the 3.6 million homes for sale is the lowest inventory count in two years. Foreclosure moratoriums in several states and by several major lenders may have contributed to the decline in addition to sales consistently being higher than the new fresh listings showing up on the market since the peak inventory at 4.6 million in July of 2008.

  A sharp cut back in home building is also lessening inventory build-up. Higher sales resulting from the stimulus could bring months’ supply down to 8 months before year’s end - which would be consistent with home price stabilization. We should not expect an immediate bump because home buying process takes 3 to 5 months before getting the keys to the house.

  PricesAs far as home prices rising, that will likely take longer. The current home price is the lowest since March 2003, but we should careful in reading the data. The high prevalence of distressed home sales and of those in the lower price range has skewed the median price markedly lower than under normal market conditions. Distressed sales, as defined as foreclosed properties or those requiring lender mediated short sales, account for about 45% of all sales. The inventory of distressed properties is much lower — about 25% of listings. This indicates that buyers are fighting over deeply discounted prices associated with distressed properties. Our internal preliminary analysis suggests that non-distressed properties are holding their value much better. In either case, however, prices and interest rates are reasonable, and housing opportunities have become quite attractive.

  One thing is for sure. The economy will not be able to recover in a sustainable way without home price stabilization. As long as home prices continue to fall - that is, if they over-correct significantly beyond what can be justified by fundamentals of mortgage rates, income, and rent metrics - the economy will hemorrhage. Housing demand must first rise to help clear the inventory, which will then help stabilize home prices. Stable home prices, in turn, will lay the foundation for sustainable economic growth and job creation.It Will Take TimeIt is a buyer’s market for sure. Buyers have everything going for them: 50-year low mortgage rates, wide inventory selection, tax credit for first-timers, and a record high affordability index. The only thing they lack is confidence. Even so, rising affordability has been associated with rising home sales even in times of recession because about 90 percent of the workforce would still have jobs. Assuming 20 percent of the households with jobs are filled with anxiety about losing those jobs, that still puts us at 70 percent of the workforce with stable employment who can respond to housing incentives. But the home buying process requires several months, from Internet searches for homes, to visiting open houses, to finding the mortgage, to conducting a home inspection, and a myriad of other related activities. Therefore, the kick from the stimulus will not show up in the data until at least May, for which the data will be reported in June/July.

  A Potential “Fly” in the Ointment While most of the media chatter has been about the provisions in the stimulus package, there is another issue on the table. There is a proposal to limit mortgage interest deduction among very high income households, supposedly in order to raise tax revenue and reduce the size of the budget deficit. NAR’s position is that this is a wrong-headed policy that will worsen the U.S. economy and thereby lower U.S. tax revenue. Falling home prices beyond the levels that can be justified will lead to consumer spending contraction, rising foreclosures, rising re-default rates on modified loans, and further destruction in the bank balance sheet. Neither the stock market nor the economy can recover in a sustainable way without home price stabilization. Any changes to mortgage interest deduction will apply more pressure for home prices to fall.

  NAR has completed a white paper on the impact of the proposed change in the mortgage interest deduction. The bottom line is that middle-and- lower income homeowners will get hit, along with higher-income households in terms of additional destruction in housing equity.

  Yes, the federal deficit must be addressed. But trying to go after a sector that is hurt and down is a wrong-headed measure yielding counter-productive results. The lawmakers must focus on reviving the housing sector from significantly over-correcting in order to get the economy back on track.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.

  For the latest economic forecast insights and analysis, visit www.realtor.org/research/research_commentary

• March 19, 2009
• 7:20

  Mortgage Rates Falling in Bend Oregon

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  It looks like mortgage rates are going to get even better!  The government is going to buy up to $300 Billion of long-term government bonds and $750 billion in additional mortgage-backed securities.  This simply means that mortgage rates should fall even further!  Home prices are extremely low and this is a great time to buy Bend Oregon real estate!

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.

• March 17, 2009
• 14:25

  Bend Oregon Real Estate Team

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

   

  If you are looking for a real estate team in Bend Oregon to help you buy or sell real estate look no further!  Jim Johnson has been selling quality homes in Bend since 1981 and his son Matt has been his partner since 2004.  Together they make an unbeatable  real estate team.

  Bank Foreclosures seem to be the hot item of the day.  There are some really good buys being snatched up by savvy investors and home buyers.  If you want to look into buying a bank foreclosure contact Jim and Matt Johnson today.  They specialize in the sale of Bend Oregon Bank Foreclosures!

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.

• March 15, 2009
• 7:29

  Bend Oregon Bank Foreclosures are Selling Fast

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  BEND OREGON BANK FORECLOSURES are selling fast!  They seem to be a hot commodity these days.  They are selling at a rate of almost one per day.  There are currently 105 bank owned homes in Bend for sale through the Central Oregon Multiple Listing Service.  There have been 50 bank foreclosures sold in the last 60 days and there are currently 58 pending sales that should close within the next 30 days or so.  

  These numbers represent homes in the Bend area only.  They do not include town homes, condominiums, and bare land, commercial or industrial property.  Foreclosures nation wide are up 30% over a year ago according to the Bend Bulletin.  Bank foreclosures will not stop soon but I think we will be seeing a decreasing number of them for sale.  Several of the major lenders have temporarily halted all foreclosures.

  The 58 pending sales are not included in the 105 that are listed for sale!  The homes sold in the last 60 days averaged 87 “days of the market.”  Days on the market can be misleading because there’s usually 30-45 days between the time a listing goes pending and it closes.  So most bank owned homes are in escrow and off the market in less than 60 days from the time they hit the market.

  Two bank owned homes just went pending on Awbrey Butte, one of Bend’s most desirable residential neighborhoods.  One sold in less than a week.  The other was on the market for several months.  The good properties that are priced right sell quickly.  The last 3 offers I wrote on foreclosures had multiple offers on them.  The banks on the average are taking 95.6% of list price.  Some are selling over list price where there are multiple offers and the list price is low.

  One thing that is confusing buyers in our real estate market in Bend is short sales.  A short sale is a property that is listed for sale at a price that is below what the seller owes the bank.  All short sales are subject to lender approval.  Short sale listings are misleading because some of them are listed at an unrealistic price which is below market.  There is no way a lender will allow a sale and take huge loss on a sale that is under current market values. 

  If you are looking to buy a home my advice is to avoid short sales and concentrate on bank foreclosures.  You can get tied up in a short sale for up to six months.  An offer is made and accepted by the seller.  Then it is submitted to the lender.  The lenders can take months only to come back with a counter offer that is unacceptable.  Some lenders will not take any offer because the seller has too much income and too many assets to justify the short sale.

  Another avenue to buy a bank foreclosure is at an auction.  However, as far as I can tell real estate auctions in Bend Oregon are not that great of a deal for buyers.  I recently attended an auction of one lender’s foreclosures in SE Bend.  There were six properties up for auction.  The bank had a “reserve” on all of these homes.  If they didn’t get their price they wouldn’t sell.  Not all the homes sold.

  One of my clients had his eye on one of these homes.  All the homes were supposed to be open for viewing 2 hours prior to the start of the auction which was held at a different location.  My client waited until 30 minutes before the auction and the house he was interested in was still locked up.  He never got to see the inside.

  The home in question had previously been listed for sale by the bank in the Central Oregon MLS for 208 days.  It was listed for $172,000 and did not sell.  The listing expired and the home was put up for auction.  It ended up selling for $160,000 plus a 5% premium which put the sales price at $168,000!  I’m sure if someone had offered $165,000 while it was listed the bank would have taken that offer.  My point is that auctions aren’t that good of a deal for buyers.

  After a notice of default is filed there is eventually a foreclosure auction on the court house steps held by the local sheriff.  However, 99% of the time these homes go to the lender in 1^st lien position. It’s usually a waste of time to attend these auctions.  One good reason not to buy these homes is that you do not have an opportunity to see inside or have any type of inspection. 

  The Central Oregon Multiple Listing Service receives the bulk of all bank owned homes as soon as they are put on the market.  These listings as a general rule are priced very well.  Sometimes they are as low as 50% of the sales price a couple of years ago.  There is some good money to be made today in Bend Oregon by buying bank foreclosed properties.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.

• March 14, 2009
• 8:16

  Bend Oregon Utilities

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  If you are looking for a list of phone numbers for Bend Oregon Utilities you can follow the preceding link to find Bend Water Companies, Bend Electric Companies, Bend Garbage Companies etc. 

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate Expert.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.

• March 13, 2009
• 9:07

  Bend Oregon Lease to Own

   » ‎ Bend Oregon Real Estate Blog

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  Now is not a good time to move into a lease option or a “lease to own” home.  Prices are falling and any “additional” equity payments you make will be reduced by the value of the property falling.  The only time a lease option is a good idea is in a rising market. 

  About 18 months ago we “sold” a home on a lease purchase.  The agreed upon sales price was $269,900.  It’s time to consummate the sale and the appraisal just came in at $240,000.  Almost $30,000 below the agreed price.  The buyer can’t get a loan because the bank will not loan the required amount.  The buyer has put $10,000 of improvements into the property.  He most likely will loose that $10,000.

  Either the seller will have to come down in price or the buyer will have to come up with thousands of dollars more down payment to get a loan.  The seller can’t come down because he owes more than $240,000.  A buyer is better off renting in this market.  Or there are still some zero down loans available if you have income and good credit.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate Expert.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.

• March 12, 2009
• 12:38

  Bend Oregon Home Prices

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  The prices of homes in Bend continue to decline and the number of Bank Foreclosures continues to increase.  But if you look at the curve it looks like we may be topping out on the number of foreclosures.  We will definitely see foreclosures over the next year or so but I predict a bottom to the Bend Oregon real estate market this spring/summer.  Barring any more catastrophic news.

  The last 3 bank owned homes I wrote offers on each had multiple offers.  I also have several out of state buyers coming to Bend this spring, summer and fall to buy houses.  They have money and money is available to borrow around 5% interest despite the misinformation on the news.  You do need verifiable income and good credit just like the good old days!

   Now is the time to buy.  Interest rates are low.  Prices are down and there is a great inventory to choose from.  There’s money to be made when you buy Bend Oregon real estate.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate Expert.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.

• March 11, 2009
• 6:08

  Bend Oregon Paving Contractors

   » ‎ Bend Oregon Real Estate Blog

  Tags:    [edit]

  Finley Butte Aggregate & Paving has proven to be one of the most efficient and cost effective paving contractors and excavators in Bend and Central Oregon!  Vic Russell Construction AKA Finley Butte Aggregate & Paving does any size job from huge paving contracts, installing your septic system or graveling your drive way.  If you have any work that needs to be done in Central Oregon I  would contact Vic Russell for an estimate.

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate Expert.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.

• March 10, 2009
• 8:17

  Bend Oregon Buyers Beware

   » ‎ Bend Oregon Real Estate Blog

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  In today’s litigious society it is time for full disclosure.  Seller’s are required by law to disclose any know defects whether hidden or otherwise.  One case where this is not true is with BANK FORECLOSURES.  Banks sell their properties in “as is” condition so it’s up to the buyer to make all necessary inspections to protect themselves.

  Whether buying bank owned homes or homes direct from the owner I always advise my clients to have a professional inspection.  A good professional inspector will inspect under the home, on the roof and everything in between.  I sold one home that had not had any insulation blown into the attic!  Wonder why the seller’s heat bills were high!

  The bottom line is that you should always have a home inspected before you close escrow. 

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate Expert.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.

• March 08, 2009
• 7:57

  Spring Forward - Time to Move Your Clocks

   » ‎ Bend Oregon Real Estate Blog

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  Today is the day to move your clocks forward one hour for day light savings time. 

  If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate Expert.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.