What does “as-is” mean in real estate? We all know what the term infers when buying a used vehicle, but is it the same in real estate? Technically, when a home is listed for sale as-is, it means that the property owner is selling the home in its current condition and will make no repairs […]
central Oregon real estate
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The Importance of Using a Local Lender
Does it really make a difference if the lender is in Chicago?
A lender is a lender, and it doesn’t really make a difference if they are local, right? Wrong. The vast majority of real estate professionals and escrow officers will tell you that using a local lender really can be the difference between a smooth transaction and a pothole-riddled transaction that makes the heart rates of everyone […]
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Seller’s Disclosures: Truth in Real Estate
What items need disclosure when selling a home?
Every property has idiosyncrasies, and certainly, every home is not perfect. It’s highly likely at some point during homeownership something has occurred that will need to be disclosed when selling the property. As a broker, I have yet to meet a seller who hasn’t expressed apprehension about disclosing potential and past problems that could influence […]
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Successful Buying and Selling
How to navigate this fast-paced market
The real estate market is constantly evolving and changing, and just like life, people need to adapt with these fluctuations. In the not-too-distant past, homebuyers could schedule showings a week ahead of time and had a plethora of homes to choose from—and, most importantly, some time to think. Sellers could also expect to be on […]
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Identifying Housing Needs and Goals
Defining needs versus wants in real estate
What does one want in a home? It seems like a relatively straightforward question; yet may not necessarily be the right question to ask when beginning a search for a home. Expanding on the question of “want” to include a clear picture of needs, desires and attainability will help organize the variables to be considered […]
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Winter 2021 is Looking Much Different Than Years Past
High demand has taken “typical winter” market conditions out of the equation
Thus far, the winter season of 2021 has been anything but typical. We’ve been blessed with warm days—that is, warm within in the context of Central Oregon’s version of winter warmth. Central Oregonians are finding themselves spending more time outside than is usual for the winter months, and then of course there is the housing […]
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The Bubble That Won’t Burst
As people from affluent cities pour into Bend to escape COVID-19, home sales and rent prices skyrocket, leaving locals priced out of the market
“It’s quite extraordinary. Home sale prices increased by 15% just this summer. Historically, it’s 7% to 9% a year,” said Brian Ladd, a principal agent at Cascade Sotheby’s. Ladd grew up in the real estate industry and has been a broker for the past 20 years. “People are panic buying. I’ve never seen anything like […]
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Don’t Spike the Ball Before the Touchdown is Called
A real estate transaction is never guaranteed
until it officially closes
The offer has been accepted, the inspection contingency removed and the loan is approved. That means it’s time to celebrate, right? No! We have all at one point or another heard of that football player who had a spectacular run and was so enthused in assuming the touchdown was guaranteed, that they spiked the ball […]
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Inflation Is Increasing and Making Home Ownership More Expensive
As was expected, the Federal Reserve decided to raise interest rates by a quarter of a percentage point last week. This puts the federal funds rate at its highest level since 2008. This could mean higher interest rates on bonds and mortgages and lower returns on real estate investment. Because mortgage interest rates typically follow […]
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Prices Up, Inventory Tight
Median prices in Bend rose to $410,000 in December, 2017
The Beacon Report, based on Central Oregon real estate statistics from our local Multiple Listing Service, recently released its report of the January 2018 figures on single family residence sales of 1 acre or less. According to the report, the Bend median price increased to $410,000, up from $395,000 in December 2017, and up 11 […]