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.

How To Commit To Buying A Home In Bend

home ownership bend

This Post Will Get You Started On the Path to Home Ownership

 

By Jason Boone

 

BEND – Over the years during my Real Estate career I’ve met home buyers who have saved money for a down payment on a home in Bend, reviewed home listings online and know the specifics of the home they are looking for but there’s one thing left for them to do:

 

“Pull the trigger” on homeownership.

 

If you’ve completed all of the steps to become a homeowner but you haven’t started to search for a home in Bend with 100% dedication this post will help you to get started with moving in the right direction of buying a home.

 

Step 1 – Make Sure Your Finances Are Ready

 

Before buying a Bend Oregon Home for sale make sure that your finances are really ready for the additional costs of homeownership like utility bills, homeowners insurance and taxes because you will have additional monthly or annual costs after buying a home which you don’t currently have right now.

 

Why not create a homeownership budget which will include your additional monthly costs which come from owning a home just to see if you’re really ready to own a piece of Bend Oregon Real Estate?

 

Step 2 – Connect With A Realtor

 

Hiring a Bend Oregon Realtor is important because your Real Estate agent will be your advocate who guides you during your home search in Bend.

 

Besides showing you all available properties which match your criteria, your Real Estate agent will also be available for answering complex questions regarding Real Estate and will be someone who can assure you don’t make mistakes especially if you’re buying a home for the first time.

 

Step 3 – Get Ready For Some Risk

 

As a homeowner you will have to be ready for some risks which come with owning a home like replacing a water heater, or a leak in your basement, that’s why it’s important to be ready for risk by having some cash reserves saved up just in case you encounter a “rainy day” and need to move quickly to solve problems in your home.

 

To get a good idea of some of the potential problems or risks which come with homeownership you should ask a trusted friend, relative or co-worker who owns their own home about the potential risks which come with owning a home just so you’re better prepared.


Contact Us

For more information on what you need to do to get ready for buying a home in Bend or to review homes for sale in the area contact me, Jason Boone, Principal Broker at Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or by emailing me at jason@sgbend.com.

Buy Now Or Later? Learn the Real Cost Of Waiting to Buy a Home in Bend

waiting

Learn more about the real cost of waiting to buy a home

By Jason Boone

When it comes to buying a home it’s easy for many people to wait on buying a home for another 6 months to 1 year.

Why? Most buyers feel they aren’t ready for the commitment but what’s the real cost which comes with waiting to buy a home in Bend?

In today’s post I will break down the cost so you will be better prepared if you’re thinking about buying a home but feel it might be better for you to wait another year and continue renting compared to buying now.

The Real Cost

Did you know buying a home may be out of your financial reach one year from now?

According to recent statistics from Zillow the cost of purchasing a home in Bend Oregon or elsewhere across the country may be prohibitive for many buyers one year from now because, mortgage interest rates are expected to increase by 1 percent and home prices are expected to appreciate as well.

When we break down the cost of waiting in dollars a 1 percent increase in mortgage interest rates could mean you will be paying at least $200 or more per month for your mortgage payment.

Understanding Percentage Points

In a recent interview Erin Lantz, Zillow’s Vice President of mortgages said: “More often than not, buyers do not understand the profound effect of rising interest rates on affordability, Many buyers associate a 1 percentage point interest rate change with a 1 percent change on a piece of clothing or the price of a car, when in fact they are very different”.

What does this mean for you, the home buyer? A 1 percentage point increase means home affordability will be reduced by at least 10 percent so it’s best to move forward and buy a home in 2014 rather than wait for another year and pay more for your mortgage.


Contact Us

To learn more about how waiting on buying a home in Bend affects you, or to view the latest homes listed for sale in the area contact me, Jason Boone, Principal Broker at Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or by emailing me at: Jason@sgbend.com.

What Not To Put In Your Garage

garage storage

Learn more about what not to store in your garage during the hot summer months.

Simple tips for keeping your garage safe during the summer

By Jason Boone

Here in Bend many homes these days are built with attached garages and a home with a detached garage is very rare.
Although having an attached garage can be very convenient during the winter it can be a danger if you don’t know what you shouldn’t store in your garage during the summer months.

Propane Tanks

You may love your grill and haven’t thought twice about storing it in your garage with the propane tank since you purchased it but the truth is propane tanks should always be stored outside because they can explode.

When storing propane tanks make sure you store them in a cool, ventilated area outside that’s away from any children’s play areas or traffic.

Propane tanks should always be stored in an upright position and they should be kept in a location that’s away from drainage from your rain gutters or snowfall that we might have in the winter.

Gasoline Cans

It’s always a smart choice to store gasoline cans outside, preferably in a garden shed that can be locked when your lawnmower or gas powered tools are not in use.

When storing gasoline cans make sure that your gas can has a twistable lock on it so small children won’t be able to open them if the gas can is left out.

Paint

When storing paint it’s always best to store it in a cool, dry place and since most garages get hot during the summer it’s better to have a storage shed or some other means of storage on your property for your paint.

If you haven’t used house paint that you’re storing in at least 6 months it’s best to recycle it because, old house paint can easily get hard and you will only have to purchase new paint anyway.


Planning On Buying Or Selling In Bend?

Sold Home For Sale Sign & New House

To learn more about buying or selling a home in Bend contact me, Jason Boone, Principal Broker with Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or by emailing me at Jason@sgbend.com.

How to Decorate Your Bend Oregon Home

Decorating like this is easy and can increase the value of your home

Simple Decorating Tips To Help You Decorate Your Dream Home

By Jason Boone

As a long time Bend Oregon Realtor I’ve had both buyers and sellers ask me for simple decorating tips that they can use to increase the value of their homes.

In this post I will cover four simple decorating tips that will both increase the value of your Bend Oregon home and turn it into the home that you’ve been dreaming about.

When to Choose Paint

Since it’s harder to remove or paint over a wall color that you don’t like compared to how easy it is to remove and replace furniture you should decorate a room in reverse by choosing a focal piece of furniture, furnishings or artwork first, then choose your wall color after that.

Don’t Buy a Lot of Furniture

It may be hard to resist stuffing a room with a lot of furniture but the reality is that decorating a room with the least amount of furniture will make a room feel more spacious, especially if you group furniture away from the walls in a room and focus on creating conversation areas.

Hang Artwork Correctly

If you have paintings or pictures that you would love to hang in your home remember that it’s always important to hang artwork based on human scale so that the average person can enjoy it.


Use Rugs Correctly

In many Bend Oregon homes there are hardwood floors and many homeowners will use rugs to break up spaces and insulate rooms during the winter months.

When using rugs it’s important to group furniture correctly on rugs by either going with the strategy of putting all of the furniture on the rug, keeping all of the furniture off the rug or by putting just the feet of the furniture on the rug so the room will have a unified design and look.

Buyers and Sellers Welcome

Thinking about buying or selling a home in Bend? Contact me, Jason Boone, Principal Broker at Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or emailing me at Jason@sgbend.com.

How Do I Take Care Of My Yard? Simple Landscape Maintenance Tips for New Homeowners

garden

By Jason Boone

Over the years I’ve sold homes to many first time home buyers and although it may seem easy taking care of the landscape around a home for the first time can seem a little intimidating even if you thought you had a green thumb.

Step 1 – Do a walkthrough

The first step to taking care of your landscape like a professional is to take a walk through your landscape and see exactly what your property has to offer.

Questions to ask:

• How many trees does my property have?
• Are all of the trees mature and in good health?
• Do some of the trees lean or touch my house?

If your landscape has diseased or sick trees you should consider hiring a licensed tree professional to remove any sick trees and cut back trees that may be too close to your home.

Dead or dying trees can be fuel for a fire and leaning trees that are too close to your home can also present problems when we have bad weather.

Step 2 – How is your landscape getting watered?

During your walk through your landscape it’s important to evaluate how your trees, plants and grass are getting watered.

You should also evaluate if your landscape has a sprinkler system or not because, without a sprinkler system in place you will have to set yourself a reminder on your calendar to water at least 3 days per week during the hot summer months.

Step 3 – What needs to be repaired?

How are the fences on your property? Have they all been maintained or are they leaning and showing age?

Are the hardscape elements like rock walls continuing to do their job or do they need repairs too?

Deciding where to start work on repairs is important because, it will enable you to stay on top of the work that must be done in your yard and not fall behind.

Step 4 – Do a property clean up

Before you do anything else in your yard you should make a plan to do a property clean up by mowing and trimming your grass, shaping trees, pruning bushes and fertilizing your plants.

For more tips on how to take care of the landscape surrounding your home or to view the latest homes for sale in Bend Oregon, contact me, Jason Boone, Principal Broker at Duke Warner Realty | Skjersaa Group by calling me at (541) 383-1426 or emailing me at jason@sgbend.com.

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