The financial reasoning for homeownership is bountiful: increased equity and wealth building, great tax benefits and predictable monthly payments—especially evident in today’s current rental situation with rents being raised frequently and excellent long-term investment potential. However, some of the lesser discussed advantages are more sentimental. A home is more than four walls and a roof; […]
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COVID-19 and Real Estate
Market updates, new real estate practices & what lies ahead
Our news cycles, social media feeds and conversations are predominantly focused on the everchanging impact that COVID-19 is having on the economy, health care, social interactions, government guidelines and business. As a real estate professional, my phone and email is lighting up with questions about the impact of COVID-19 on the real estate market and […]
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Housing for All
Why affordable options matter
The separation of wealth across this nation has been growing for years and Central Oregon is not immune to this. An enormous influx of people from out of town purchasing homes at top dollar continues to drive sale prices higher and higher, demonstrating the simple law of supply and demand. The critical factor to recognize […]
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Mortgage Rates, The Tumble of Bond Yields and the Coronavirus
What does all of this mean for buyers and current homeowners?
In recent weeks, news of the rapid global spread of the novel coronavirus COVID-19 has dominated conversations, news cycles, social media and global economic markets. But what does COVID-19 have to do with real estate? Well, considering that mortgage rates fell last week to the lowest rates we’ve seen since 2012, it’s clear that fears […]
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Growth + Rising Costs vs. Affordable Housing
Healthy and happy cities are dependent on affordable options
The pace of growth in Central Oregon is simply staggering, drawing people from all over the U.S. because of the high desirability. Homebuyers moving here refer to Central Oregon home prices as “affordable” compared to where they’re coming from—mostly metropolitan areas where sales prices have soared. Zillow states that median home prices in San Francisco […]
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Due Diligence: The Homework of Buying a House
It’s more than the house. It’s also the neighborhood.
Fourteen years ago, I was riding around a northwest Bend neighborhood with my mother, looking at homes and the general area. We found ourselves near the local high school as students came out and parents were pulling in for pickup. My mother pulled to the side of the road and we sat for a few […]
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Opportunity Zones
Creating opportunities, or just another tax for the rich?
The Federal Opportunity Zone program was created in 2017 through the Investing in Opportunity Act—part of Tax Cuts and Jobs Act. The goal is to stimulate economic development and job creation in economically distressed communities by encouraging long-term investments in low-income neighborhoods. Instead of relying on taxpayer dollars and government programs, the aim is to […]
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Millennials’ Home Trends for 2020
A generation entering the market later than their predecessors
The millennial generation has long been a topic of discussion among those in the real estate industry. One reason: In the last five to eight years it’s become apparent that this generation hasn’t followed the traditional homebuying trends of preceding generations. Millennials are renting longer and purchasing homes later in life; previous generations historically purchased […]
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The Big Picture
Evaluating the total cost of home ownership
It’s an exhilarating experience to embark on the house hunting journey—from browsing online, driving by a few favorites and then seeing a home in person and realizing the true potential of living there. Hopefully by that point in the process, the buyers have taken all of the proper steps. Finances are in place, down payment […]
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Managing Expectations when Buying Rental Property
With luxury market rentals, a different set of “rules”
When purchasing rental property, buyers should consider several factors, including capitalization rates, rental comparisons, neighborhoods, the target demographic for said rental property and vacancy rates. It’s no secret that Central Oregon has experienced a tight rental market for several years. We continue to hear that there is a shortage of rental property in Central Oregon […]