2015 ends with a banner month of home sales in Bend

mortgage interest ratesBy Jason Boone

What was already an impressive year in 2015 ended on a particular high note in December. In fact, an almost shocking number of homes were sold during the last month of 2015, pushing the year into record-breaking territory.

How good of a month was it?

Through the month of December 214 homes were sold, significantly more than the 141 homes that sold in November and the 169 homes that sold in December 2014, according to data recently compiled by the Skjersaa Group. The December pace was closer to the busy months surrounding summer (from May through September monthly sales landed between 225 homes to 259 months) than a typical winter month.

The strong December might actually portend to another big year in 2016, even if there are hunches the end of the year might bring a moderation of the market.

One key piece of data from the report is that the year ended with just 3.1 months of inventory, which is well down from the 5.2 months that were live in November. The tally is the lowest since just 2.4 months of inventory sat on the market in June 2015 and more than a full month less of inventory than in December 2014.

The median price, the midpoint in which half the homes in Bend sold for more and half for less, was $325,275 in December. That is up from $321,275 in November and $290,000 in December 2014. And the sales price of each home was on average 99 percent of listing price, suggesting pricing power for sellers.

Some of the December spike might be explained by the Federal Reserve’s decision to hike interests rates, which may have pushed some potential buyers off the fence. The rental market remains tight. And Bend remains a desirable choice for relocation, making it among the fastest-growing metropolitan areas in the nation.

Regardless of the explanation, it appears that Bend’s real estate market remains strong as we begin 2016.

Some more interesting year-end data from the Skjersaa Group report:

  • In 2015, there were 2,370 homes sold in Bend, the most since at least 2006. To compare, 2,145 homes sold in 2014 and 2,171 sold in 2013.
  • The annual median price was $327,500. That is up from $290,000 in 2014.
  • The average days on market in 2015 was 122 days, which is down from 130 days in 2014 and 127 days in 2013.
  • The average inventory was just three months in 2015, which is down significantly from five months in 2014 and four months in 2013. In fact, only twice (February and November) did the monthly inventory rise above four months.
  • In all, an average of 198 homes sold per month in Bend, which is up from 179 homes a month in 2014 and 151 in 2013.

Knowing how the data applies to each buyer or seller takes expertise. I can help navigate the market and find the perfect Bend, Oregon home.

To learn more about Bend home prices, get started with listing your Bend home, or to view area homes contact me call (541) 383-1426, or visit Bend Property Search to connect with me through my website.

What Home Improvement Projects Will LOWER The Value Of Your Bend Oregon Home?

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By Jason Boone

BEND, Ore – In 2015 there are lots of articles online about what improvements you should make to your home to INCREASE its value, but which home improvements can DECREASE the value of your home?

In today’s post I will list the top 3 home improvements you should not make to your home if you don’t want to lower its value.

Improper Use of a Bedroom

Although you may be thinking about adding a bar, playroom or billiards room to your home, make sure you don’t use one of the bedrooms in your home for this purpose.

Most home buyers are searching for homes with at least 3 bedrooms so it’s best to keep this in mind if you want to preserve the resale value of your home.

Tip – If your home has a 4th bedroom it’s also best to keep that room as a bedroom as well since many home buyers are also searching for a home with a 4th bedroom during their search.

Above Ground Pool

Yes, Bend can get hot during the summer but that doesn’t mean you should consider adding an above ground pool.

Why? Above ground pools are usually considered to be an “eyesore” and will offer a LOW return on your investment in the pool especially since they are hard to maintain, and don’t last over the years.

Painted Trim

Last of all, but most important, another thing you don’ want to do is paint the trim in your home.

Painting the trim in your home is a bad home improvement decision to make since trim is regarded as harder to repaint than painting the average wall and most buyers want to purchase a home with neutral wall colors anyway.

Search for a Bend Oregon Home

For more home improvements which you don’t want to make to your Bend Oregon Home, or to view the latest homes for sale, contact me, Jason Boone, Principal Broker with Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or click here to connect with me online.

When Is The Best Time In Life To Buy A Bend Oregon Home?

Home Buyers Bend Oregon

By Jason Boone

When is it the right time to buy a Bend Oregon Home?

In today’s post we will cover some of the best times in life for you to buy a Bend Oregon Home so you can have confidence no matter where you are at in life that it’s the right time to buy.

You’re Getting Married

If you plan on getting married in 2015 now is the right time to buy a home since it’s possible to buy a home, renovate (if needed), move in and have your home ready before your wedding date.

Your Family Is Expanding

Is your family going to expand in 2015? Congratulations!

Most homeowners will know how you feel when it comes to needing a bigger home since families will feel the strain of trying to fit more family members into an already cramped space that’s why you should start searching for a new home now.

There’s nothing better than knowing you’ve found the right home which has plenty of space for your expanding family.

Are Your Parents Getting Older?

At one point in life you may be facing the decision of what to do for your parents as they age, or you may be there now…..

When this time in life comes it’s best to buy a home since you can find a home which has an in-law suite attached or plenty of land for you to build your parents their own separate space to live on your property.

Is Retirement Right Around The Corner For You?

Last of all, but most important, if retirement is coming up in 5 to 10 years why not buy a home now?

You can buy another Bend Oregon home, rent it out and pay down the mortgage then either live there when you retire or continue renting it out for the income in the future.


For more information on the best time of life to buy a Bend Oregon Home or to view homes for sale across the region contact me, Jason Boone, Principal Broker with Principal Broker at Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or click here to contact me online.

Is It Worth Making Repairs To Your Bend Oregon Home Before Selling?

Bend Oregon Home For Sale

Should you make repairs to your Bend Oregon Home before selling it?

The answer to this question is yes!

You should always make repairs to your home if you plan on selling because, you don’t want to give any home buyers the opportunities to submit lower offers to you because, they will have spotted all of the things that are wrong with your home, or in need of repair, but it’s especially important to make repairs to your home before listing it for these reasons:

Quick Return on Investment (ROI)

Let’s say that you spend between $5,000 and $10,000 on making repairs to your Bend Oregon Home before listing it, you can get this money back quickly because, you won’t be giving buyers any reasons to submit low ball offers on your home, and it also may attract the attention of multiple bidders who are interested in purchasing it, which could mean that you will be able to sell your home for more than your asking price.

Your Home Will Be Sellable

These days many Bend Oregon Homes are not ready to be sold when they are listed for sale, meaning that they have repairs that the owner didn’t make, or they were not staged for sale.

By taking the steps to make repairs to your home yourself you will be doing your part to sell your home by supplying your Realtor with a good “product” for them to sell instead of a home that has a lot of problems and will be difficult for them to find the right buyer who will be interested in investing the time and money into your home to make it their own.

For more information on how to get your Bend Oregon Home ready for sale, or to view the latest homes that were recently listed on the Real Estate market, contact us today by calling: (541) 383-1426.

Does That Bend Oregon Home For Sale Have A Deck?

bend oregon home for sale

During the process of searching for a Bend Oregon Home For Sale in 2013 or 2014 you may ultimately come across a home with a nice deck in the backyard and visions of backyard barbecues and family fun may be filling your head but before you decide to submit an offer on the home with the nice deck, make sure that you hire a home inspector to make sure the deck is structurally sound.

Not Properly Attached To the House

One of the first things that you should look for when inspecting a deck on a Bend Oregon Home for Sale is making sure that the deck is properly attached to the home. Decks should be attached with lag screws, bolts and or SDS screws so, if you come across a deck that’s only been attached with screws or nails you have a problem because, that deck is not structurally sound and should be reinforced properly, or torn down before you purchase the home.

Inspect the Flashing

When inspecting a deck make sure that it has flashing that’s been properly installed to the “ledgerboard”, or the section of wood that attaches the deck to the Bend Oregon Home For Sale.

“What is flashing supposed to do?” Good question! Flashing is supposed to protect the home because; it will keep water from leaking into the deck and ultimately causing wood rot. When choosing ledgerboard or flashing it’s common for owners to choose materials like galvanized steel because, these materials are more durable over the lifetime of the deck.

Joist Hangers

Last of all, but most important, the inspector that you choose to inspect the Bend Oregon Home For Sale’s deck should be paying close attention to the joist hangers because, these metal brackets are responsible for attaching the deck joints to the home.

When inspecting joist hangers make sure that there are not missing nails In the joist hangers or that improper “10″nails were not used for the joist hangers, because, joist hangers that have been put into place with the right nails, not screws can be considered to be the right support for the deck.

To learn more tips about what to look for with decks when choosing a Bend Oregon Home For Sale, or to view the latest homes in the area that have been recently listed, contact me today by calling me today for a free consultation at (541) 383-426.

Does that Bend Oregon Home For Sale really have four bedrooms?

jason-boone-realtor

In 2013 it’s not hard to spot Bend Oregon Homes For Sale that have odd shaped rooms, that are advertised as being additional bedrooms, when in reality these rooms should never be classified as a being bedrooms in the first place.

To save you time and money in your Bend Home Search I’m going to breakdown how to define what a bedroom is in a Bend Oregon Home.

Bedroom Window

A bedroom in a Bend Oregon Home for Sale should first have a window that can be used for an escape or rescue if needed. Ideally a bedroom should have a window that’s at least 44 inches or more above the floor so that the occupant of the room can easily get out in case of fire or worse.

Garage Access?

If you find a bedroom directly off a garage in any Bend Oregon Home for Sale that’s a big “no-no” because, bedrooms that are next to garages can be seriously hazardous to the occupant of the room thanks to chemical fumes that may come from the garage, fire or worse.

You can still buy a home that has a “room” that’s right off the garage; just don’t use it for a bedroom or a space that you or your guests might be using frequently.

Water Heater

For safety sake you should not consider a room to be a bedroom if it has a water heater or furnace in the room because, water heaters and furnaces have very specific venting requirements and it can be very dangerous to sleep near them.

Smoke Alarms

Last of all, but most important, you should search for a bathroom that has a smoke alarm or carbon monoxide alarm that’s at least 15 feet away from the bedroom. This is another key element of safety when inspecting a Bend Oregon Home for Sale and it shouldn’t be taken lightly.

To learn more about what to look for in a bedroom, or to view the latest Bend Oregon Homes for Sale, contact us today by calling (541) 383-1426.

The Skjersaa Group pledges at least 1% of revenue to the preservation and restoration of the natural environment