Microsoft recently revealed it’s pledging $500 million for affordable housing in the Seattle, Wash. area. The company will commit $25 million in grants and subsidies to address homelessness, $250 million to low-income housing developers, and $225 million in below-market rates to workforce housing developers. Microsoft will continue making more loans as the money is repaid. […]
Nick Nayne, Principal Broker
Principal Broker at The Broker Network Realty in Bend, OR. Over 12 years experience in Real Estate working with buyers, sellers and investment properties.
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Co-Living Development
Dormitory style housing coming to larger cities
The affordable housing crunch is bringing out innovators trying to come up with solutions. In many larger U.S. cities, our local problems are magnified—so I like to look at what they’re doing. Unfortunately, not much is coming up, but this week an article about co-living developments caught my attention. Many millennials and others in Bend […]
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Talks of Recession Surfacing with Government Shutdown
Worries expressed about housing market
This past week, numerous headlines have emerged about prolonged government shutdowns leading to a recession. With the 2008 recession still fresh in everyone’s mind, the word “recession” makes people think of another housing recession. While some prominent economists have talked about an economic recession, housing has not been a concern because strict lending regulations were […]
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December Statistics Mix of Up and Down for Bend
Sales volume down over last year, median price up
According to December 2018 Central Oregon MLS statistics for Bend single family residences (excluding condos and manufactured homes) on 1 acre or less, the market cooled down again, with sales volume decreasing by about 16 percent from December 2017. The median sold price increased slightly from $433,143 in November 2018 to $438,632 for December 2018. […]
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No Crystal Ball For 2019 Real Estate
The unseasonal market slowdown this summer gave me an eerie feeling similar to what I felt before the last recession, but it’s a much different scenario than it was back then. Many buyers are speculating that prices will drop and that a correction is on the way. Some media sources predict a mild recession, saying […]
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Nomadic Shipping Container Hotel Rooms
Portable hotels can be set up in half a day
The French hotel group AccorHotels has developed a new type of accommodation that can be placed virtually anywhere. It’s called the Flying Nest, made of six shipping containers stacked on top of each other and connected by a terraced walkway. One is set up at the Avoriaz Ski Resort and rents for 150 Euros (about […]
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Freddie Mac’s Report on Housing Shortages
Years of reduced construction still contribute to shortage
According to a Freddie Mac Research Report released Dec. 5, the current national housing shortage is about 2.5 million units. After calculating long-term demand, the report concludes that in order to make up for several years of building shortages, the housing market may need to supply more than 1.6 million units per year. Major factors […]
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Local Real Estate Market Cools Down Again for November
Sales volume down over prior year and October 2018
According to November 2018 Central Oregon MLS statistics for Bend single family residences (excluding condos and manufactured homes) on 1 acre or less, the market cooled down again, with sales volume decreasing by 17 percent from November 2017. The median price increased slightly from $432,900 in October 2018 to $433,143 for November 2018. Sales of […]
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2019 Forecast Predicts Tougher Market for Buyers and Sellers
Price growth expected to continue at moderate pace
According to a recent economic research release from Realtor.com, 2019 is expected to be more difficult for both buyers and sellers. Mortgage rates in 2019 are expected to average 5.3 percent and reach 5.5 percent by the end of the year. This alone will make the average home purchase more expensive by 8 percent over […]
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Affordable Housing Is An Issue, Even for D.C. Politicians
Many politicians can’t afford housing in the nation’s capital
The latest tales of the nationwide affordable housing crisis came from Washington, D.C., this week, when New York’s Representative-elect Alexandria Ocasio-Cortez—the youngest woman ever elected to the U.S. House—announced that until her salary kicks in in January, she can’t afford to rent an apartment. Surprisingly, this is not unusual. Even with a $174,000 annual salary […]