Reported by Rad Dyer, REALTOR, ABR, ABRM, ALC, CCIM, CRB, CRS, e-PRO, GRI, RSPS, SRES, Principal Broker/Owner
Updated July 3, 2008.
Current Market Rating: 1
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Bend, Oregon is located nearly in the geographic center of the state and is the most populated city in Central Oregon. Bend is the county seat for Deschutes County, which currently ranks as Oregon's fastest growing county and the 90th fastest growing county in the United States.
Bend lies on the transition zone between Oregon's High Desert country to the east and the Cascade Mountains to the west. At an elevation of 3,628 feet, Bend enjoys the predominantly dry climate of the Great Basin with sunny days and cool nights the most common weather pattern.
The countryside around Bend is an outdoor recreationist's dream come true. One can enjoy everything from mountain biking, hiking, rafting, golfing, hunting, fishing, rock climbing, camping, boating, downhill and cross country skiing, snow mobiling, general sightseeing and much more. Bend is surrounded by vast tracts of U.S. National Forest lands to the west and south, as well as extensive BLM high desert to the east. There are vast unspoiled wilderness areas in the nearby Cascades.
For over a decade Deschutes County has ranked as one of Oregon's fastest growing counties and as a result the Bend real estate market had soared, offering strong growth and appreciation. Bend residential median prices rose 25.75% in 2006, one of the highest performing markets in the U.S. This high-flying trend has turned around significantly through March of 2008. Median residential home sales through the first quarter of 2008 were $306,500 compared to $347,750 for the same period in 2007. Sales volume has declined 47.24% and the inventory of available housing is increasing every month.
Many large home builders are holding significant inventories of finished new homes and prices in many cases have been slashed; many builders are offering strong incentives and concessions to put together sales.
The slow down has caused lot prices to decline as well with the median price falling 18.79% compared to the same time last year. This is partly attributable to builders pulling back due to unsold inventory.
In the rural areas around Bend sales volume has declined 39.13% compared to last year, and the median price for residential acreage has decreased 7.26% from $565,00000 to $524,000. Average time on the market is also rising throughout the Bend area with the time frame running from five to six months to sell a home.
The changing market conditions definitely favor the buyers and now is the best market conditions in 20 years to find your piece of paradise. Central Oregon and Bend in particular offer great appeal and many "quality of life" reasons to move here.
As a Central Oregon native with 30+ year's experience in the local real estate market, let me help with your Central Oregon property search.
ZIP Codes: 97701, 97702, 97707 Approximate Location Boundaries: Central Oregon
Location Characteristics: Central Oregon...a lifestyle for all seasons!
About Rad Dyer:
Born in Camp Sherman, Oregon, Rad Dyer attended the University of Oregon where he achieved a Bachelor of Science degree in Real Estate and Finance. He, his wife Karen and his family, which includes two sons, one daughter and two grandsons, enjoys skiing, fly fishing, river rafting, mountain biking, hiking, windsurfing, camping, gardening, cooking and hunting.
Apart from his real estate activities, Rad is known in the community as an avid and active outdoorsman with a broad knowledge of local trails, ski runs, rivers, wildlife, plants and special places.
A lifelong resident of the area, Rad offers extensive experience and an educational background in real estate, finance and property management.
A licensed RealtorŪ since 1974, Rad Dyer, Principal Broker/Owner of Ponderosa Properties, LLC, brings to the table solid real estate direction, accurate property evaluations, proven marketing strategies, tough negotiating skills and open communication. He holds the designations of Accredited Buyer Representative (ABR), Accredited Buyer Representative Manager (ABRM), Accredited Land Consultant (ALC), Certified Commercial Investment Member (CCIM), Certified Real Estate Brokerage Manager (CRB), Certified Residential Specialist (CRS), Internet Professional (e-PRO), Graduate of the Realtors Institute (GRI), Resort Second-home Property Specialist (RSPS) and Senior Real Estate Specialist (SRES); and is the recipient of the Central Oregon Association of Realtors Professional Excellence Award.
Rad has achieved a solid reputation during his career. Present clients attest to his hard work and diligence, while past clients speak highly of his integrity and professionalism. Industry knowledge, attention to detail and complete follow-through sets him far above the average RealtorŪ!
Contact Rad at: Ponderosa Properties, LLC rad@raddyer.com www.raddyer.com 541-549-2002 800-650-6766
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
