The Garner Group Real Estate in Bend, Oregon Welcomes Two New Agents

We're excited to welcome Lauri Miller and Christina Wise to our Bend, Oregon real estate team!  They each bring lengthy experience in different segments of the real estate industry.

A Central Oregon resident since 1987, Lauri Miller has a lengthy background as a Certified Public Accountant. She served for 19 years as Chief Financial Officer of Eagle Crest Resort, accumulating experience on the financial side of real estate development. Later, as a consultant, she was interim Financial Director for the city of Redmond. Lauri has been active in several community organizations and is currently a member of the St. Charles Health System Board of Directors. Lauri lives in Bend with her husband, Charley Miller, and a canine family member, Porter. They have two grown daughters: Campbell, a recent Dartmouth College graduate, lives in New York City. Shelby is attending Lewis & Clark College in Portland. 

With over 20 years of experience in fields related to real estate, Christina Wise has gained extensive knowledge of the industry. She has title and mortgage company experience and held a real estate license in Washington state before moving to Bend in 2000. She earned her Oregon broker’s license in 2001 and returned to real estate sales in 2010 after holding marketing and sales positions in the title industry. She is a native of Portland, Oregon and studied in Eugene before starting her career. Christina has two grown sons, David and Joseph, and a teenage daughter, Katie. While she participates in numerous Central Oregon outdoor recreation, fitness and community activities, Christina’s passion is softball. She has played for 30 years and currently plays league softball with Bend Parks and Recreation. She is an avid supporter of local high school sports and music programs.

Gains, Rises, Up! That's How We Describe the Bend, Oregon Real Estate Market

When we sat down and analyzed recent numbers and statistics, we saw increases across several key categories compared to a year ago. New construction sales were up 75% and represent 21% of total home sales for the year so far, measured early this month. 
During the same period a year ago, new construction sales accounted for 13% of the total. The average sale price for the period increased by 23%.

In NorthWest Crossing, building activity is influencing the numbers and causing sharper percentage changes. Overall, prices are rising and total sales are up.  

More on the positive front, for all properties throughout the Central Oregon MLS area, sales totaled 3,142, 8.3% above the first half of 2012. Dollar volume and volume of sales were also up - 11.3% and 39.2%, respectively, above comparable 2012 figures.

July marked a high spot in a 12-month snapshot of the market. Keeping up with demand, permits for new construction are rising sharply, with a gain of 79.7% over last year. New home construction has increased every year since bottoming out in 2009, when 68 permits were issued. Charts containing more information may be viewed by clicking here.

 Want to know more? Our monthly Central Oregon News Digest has a wealth of fantastic information on the market, locally and nationally. You can sign up on our website. 

One More Weekend for COBA Tour of Homes in Bend, Oregon

You have one more weekend to visit us at the Central Oregon Builders Association Tour of Homes! We are proud to be the presenting sponsor of this event! You can come see us at any of the following homes on the tour, and we'll be happy to show you around some of the best examples of Bend, Oregon real estate. Many of the homes we represented won awards for the tour. We are so proud of all our builders! Congratulations! 

• 2341 NW Floyd Lane, NorthWest Crossing. Tyee Development Inc.
• 2155 NW Lemhi Pass Drive, NorthWest Crossing. Leader Builders LLC
• Best Architectural Design
• Best Feature (Interior Architecture)
• 2355 NW Floyd Lane, NorthWest Crossing. Stone Bridge Homes NW
• 2487 NW Drouillard Avenue, NorthWest Crossing. Makena Custom Homes
• Best Landscaping
• 20528 Avro Place, Woodhill Park. Woodhill Homes Inc
• Best Interior Finish
• Best Master Suite
• Best Value
• Best of Show
• 1352 NW Elgin Avenue, Northwest Bend. Woodhill Homes Inc.
• Best Landscaping

Check here for a complete list of winners. 

Prices Rise, Inventories Low in Bend, Oregon Real Estate

At the risk of sounding repetitive, we have more fairly good news to report for the Bend, Oregon real estate market. As we recently reported in our monthly eNewsletter, Bend home prices continue to rise as inventories stay low. You'll notice some trends in the chart below.

Prices continue to chart an upward trajectory. The average sale price for a home and the average price per square foot in the Bend area YTD are over 20% above the same period a year ago. The gain in NorthWest Crossing is slightly less but still comfortably within double digits. The average price in NorthWest Crossing YTD is 49.1% above the average for the Bend area as a whole.

New construction sales have increased by nearly 90% and represent 22.4% of all home sales in the Bend area. Rising land and material costs are applying upward pressure to new home prices. 

On a national level, data reveals a growth gap between new and existing homes, a byproduct of low inventory levels that are plaguing the industry from coast to coast. Single-family resales were up 9% over April 2012 while new single-family home sales charted a 29% increase. Single-family housing starts, building permits and new home sales also were up sharply over the rates recorded 12 months before.

This is all good news, but buyers may have a harder time finding completed homes with the low inventories as our builders try to keep up. Now's the time to start looking! 

More Good News! Bend, Oregon Real Estate Rocks

Bend, Oregon real estate is hot right now. We're excited to see the market shifting, which is creating some unique "problems" like low inventory. The classic laws of economics can be seen at work, as this low supply is driving up prices on residential real estate listings. New home construction is continuing to rise, helping to alleviate some of the inventory demands (new construction sales have increased by 65% over last year), but constraints remain.

Active residential listings at the beginning of May were 18% below the same point a year ago. Last month the gap was 8.5%. This is pushing the number of sales down in comparison with last year at this time. The current inventory calculation is three months.Average year-to-date sale prices in Bend are 27% above last year at this time, with the price per square foot up a similar amount. This calculation is similar to CoreLogic index figures for the Bend Metropolitan Statistical Area, released May 7, that show March prices up 3.3% from the previous month and 19.8% over March 2012.

The inventory pinch is not the only factor supporting higher prices. Building material costs are rising across the country. National Assn. of Home Builders chief economist David Crowe said prices of gypsum, softwood lumber and concrete are running above 90% of housing boom levels. This is causing home construction costs to rise faster than appraised values.

Don't get our eNewsletter yet? It's packed with awesome statistics and news that affects you! Sign up here: http://www.thegarnergroup.com/newsletterrequest

Green Real Estate in Bend, Oregon: The Garner Group

It's not a secret that we pride ourselves on a real focus on sustainability here at The Garner Group Real Estate. Our brokers put in the time it takes to educate themselves (and their clients) about the benefits to buying "green" to make sure everyone can make informed decisions when it comes to purchasing a new home. Last month, nine of our brokers have earned the Earth Advantage STAR designation from the Earth Advantage Institute - bringing our total number of STAR agents on staff to a whopping ELEVEN!  

The certification was granted following a course of training that included classroom lectures, visits to green building sites and a final examination. “STAR” stands for Sustainability Training for Accredited Real Estate Professionals.

The training enables the brokers to identify home features and building products that provide greater energy, water and resource efficiency and create a healthier living environment for their clients. The newly-minted EA STAR agents at The Garner Group are:

·         John Anderson

·         Erin Campbell

·         Victoria Davis

·         Shelley Griffin

·         Sean Haidet

·         Suzanne Iselin

·         Melody Lessar

·         Alison Mata

·         Angela Tweedie

( Jody Tuttle and Phyllis Mageau earned the designation at an earlier date.) 

As we said, green real estate is a priority at the firm, with several other agents demonstrating their commitment to serving the green building market by completing an advanced training program conducted by the National Association of Realtors. Lessar, Griffin, Mata and Tuttle have earned the association’s GREEN broker designation, along with Carol Donohoe, Matt Garner, Patsy Roome, Rob Davis and managing principal broker Sara LaFaver. All individuals are licensed Oregon brokers with The Garner Group Real Estate LLC in Bend, Oregon. 

Congratulations everyone!

Shelley Griffin

John Anderson

Suzanne Iselin

Erin Campbell

Alison Mata

Melody Lessar

Sean Haidet

Victoria Davis

Angela Tweedie

Brokers Receive New Certifications

Three of our fantastic brokers have earned new certifications to help serve you even better! 

Sandy Garner, owner of the Bend, Oregon real estate firm, said, “Continuing education has always been a big part of our culture as a company. We believe that staying abreast of all the latest trends and information in the real estate industry is vital in providing the very best service to our clients.”

Alison Mata and Melody Lessar, who are both National Association of Realtors (NAR) certified GREEN brokers, have recently earned NAR’s Accredited Buyer’s Representative (ABR) certification. This designation is awarded upon completion of an advanced course of study that focuses on the objectives of home buyers. Specifically, the program:

- Elevates the overall understanding and knowledge of the home buyer;

- Provides ongoing specialized information, programs, trends and updates regarding home buyers and their needs;

- Allows certified agents to access members-only online marketing tools and resources.

In addition, broker Carol Donohoe, who is also GREEN certified, has earned membership in the Institute for Luxury Home Marketing. To earn this status, she completed special training designed to build skills in the marketing of luxury homes and estate properties. The Institute for Luxury Home Marketing is the premier independent authority in training and certification for real estate agents working in the luxury residential market. 

Congratulations! 

Low Inventories & Strong Prices for Bend, Oregon Real Estate

Continuing on it's upward swing - along with the rest of the nation - the Bend, Oregon housing
market report is still positive. The only "negative"? Low inventories are making it hard for some buyers to find what they're looking for, thus affecting total number of transactions recorded. Yet, with the laws of supply and demand, this phenomenon is keeping prices strong.

Low inventories might not last, as builders are taking up the slack: new construction represented 27% of homes sold so far this year, nearly double last year at this time. According to a recent article in realtormag.com, construction job growth is marking recovery. "While commercial construction job growth is most impressive—a 3.1 percent seasonally-adjusted gain over year-ago figures and an addition of 15,500 jobs in the past 3 months—residential construction employment isn't lagging too far behind. The sector was up 0.6 percent over the last 3 months, reflecting the 3,300 jobs added over that time."


In the Bend, Oregon real estate market, sale prices remain strong. The average sale price in Bend year-to-date in 2013 was 18.7% above the same period in 2012. The average sale price in NorthWest Crossing was 5.7% above YTD 2012 and 39.5% higher than the Bend area. Active residential listings in a March 5 snapshot were 17.3% behind last year and represent 2.5 months of inventory. The national absorption rate is tracking downward at 4.2 months.

Calculations above and figures in the accompanying table are based on Central Oregon Multiple Listing Service data. They represent single-family detached homes on less than one acre in the greater Bend area extending from Tumalo to Alfalfa.

Want to learn more? Visit our website at thegarnergroup.com or follow all the latest news on our Facebook page.

Housing Economics Improve on a National Level...

And Bend, Oregon real estate is on the same curve!

We've been reviewing news from around the country, and are happy to report that the sentiment for housing and real estate is trending optimistic and positive. In fact, the top headlines today on realtor.com are putting smiles on our faces - check it out:

If you don't follow us on Facebook, you should. We often post news that catches our eye and can help you make educated decisions when it comes to your real estate future. Recently, in the Los Angeles Times, an article reported that median prices are showing biggest gains since 2005 and USA Today said that housing is the key to future job growth.

Want to know more? Contact us today at info@thegarnergroup.com or call 541-383-4360.

Bend, Oregon Real Estate Continues to Strengthen

We never get tired of reporting good news! And the Bend, Oregon housing market has definitely had a lot of good news lately. Firmer prices and more home sales are just a couple of the trends we're seeing here locally: home sales and prices continue to outpace the previous year while the inventory of homes listed for sale grows smaller. This a pattern we all like to see!

The chart below outlines specific comparisons from 2011 to 2012. Active Bend, Oregon residential listings are showing a downward trend for inventory, which means good things for sellers - there are fewer homes on the market to choose from. For buyers, this begins to present limited choices and reminds us that the market is capable of extreme cycling in a relatively short amount of time. 



The trend represented in the table above began to take shape last spring, after which the percentage gap between year-to-date home sales (up) and inventory levels (down) compared with the previous year increased month by month before plateauing late in the year. This contrasts with a basically flat market in 2011 versus 2010. We break out NorthWest Crossing is a separate sub-market that can be considered an object lesson on the positive relationship between neighborhood planning and home values.