A Receding Recession? Much Better Than, Say, A Receding Hairline

We just read an uplifting article (finally) in Oregon Business entitled:The recession is finally over in Oregon. With a headline like that, who couldn't help but read on? Sounds promising!

The article goes over some statistics that we've long held to be indicative of economic recovery - namely, the unemployment rate...

"By the end of March, Oregon’s jobless rate had fallen to 10 percent. Chances are good it will drop into single digits by the end of April for the first time in more than two years. The state gained 42,000 jobs over the past year."

...and the housing industry.

"At the current rate of home sales, the market would be cleared out in 7.1 months [in Portland]. (Imagine that – a clean slate!) Compare that figure to the 19.2 months worth of housing inventory on the market in January 2009, and you get a sense of where we’ve been and where we’re heading."

Of course, the article heeds a "not-so-fast" warning, but we'd rather not read that far...actually the article is right in that real estate is a tricky one - the figures don't always "add up" at any given time due to a number of variables.

The good news in Oregon is that, according to the article:

• Intel is building a $2.5 billion factory in Hillsboro and just announced its most lucrative quarter ever.
• Facebook is pouring millions into its Prineville data center.
• Google is investing $100 million in Eastern Oregon wind power.
• Crop and beef prices are up for farmers and ranchers.
• Crab and salmon prices are up for fishermen. There will be a salmon fishery off the coast this summer.
• Exports are growing, with the weak dollar playing in Oregon’s favor.
• New businesses are popping up in downtown Bend and Bend's Old Mill District.
• Statewide, trucking is up 26 percent year over year, online job ads are up 23 percent, and business and personal bankruptcies are down 3.4 and 8 percent respectively.

What does this mean for Bend, Oregon real estate? We think things are looking better than ever!

We Keep Growing and Growing!

We are pleased to welcome our two newest Bend, Oregon real estate brokers to the team: Suzanne Iselin and Natalie Raymond!

An Oregon native and graduate of the University of Oregon, Iselin first became an agent in 1999 while living in Hawaii and earned her Oregon license nine years ago. For her, real estate runs in the family as both her parents were long-term brokers in Oregon. She enjoys all the recreation the area has to offer with a special interest in tennis, skiing, hiking and biking.

Raymond obtained her Oregon broker’s license this year after moving to Bend from Phoenix, Ariz., where she was a business owner and partner in

an automotive financial services company. Previously, she was a real estate investor who managed home remodels and contractors, giving her a solid understanding this side of the real estate industry, which she now shares with her clients. She moved to Bend with her four daughters to be near her mother, who had also relocated to the area.

Interested in Bend, Oregon real estate? Then we can help! Our agents have a wide variety of experience and areas of expertise that can help you buy or sell your home in this swiftly changing market.

Zero Energy? We Say Hip, Hip Hooray!

We are pleased to be co-listing (with GoBend Realty) a Zero Net Energy Home in NorthWest Crossing, being built by SolAire Homebuilders in Bend. Groundbreaking ceremonies were held on the property, which is located in Bend, Oregon on the corner of Dorian Way and Newport Hills Drive, last Tuesday.

What does "Zero Net" mean you may ask? Just that - the home will contain features that that define the most advanced elements of green building. It will use a combination of passive and active solar energy to average zero electrical consumption over the course of a year. Building materials, finishes and mechanical systems will embrace healthy home, clean air and sustainable building concepts. There's some more information on the concept here.

At The Garner Group in Bend, Oregon, we believe in going green. Many of our agents are green-certified. Our offices are located in the sustainable Bend, Oregon neighborhood of NorthWest Crossing. We are so excited to represent this new home, which is scheduled to be in the Central Oregon Builders Association Tour of Homes 2011.

The home will qualify for certification as an Earth Advantage Zero Net Energy Home, Earth Advantage Platinum Home, Energy Star Home, Energy Trust of Oregon Advanced Performance Home and Oregon Department of Energy High Performance Home.

The View From My Seat ;Bend Oregon Real Estate

As transaction coordinator for Bend, Oregon real estate company The Garner Group, I really feel it when things pick up because action in our sales office keeps me hopping! And lately, I’ve been very busy and noticing some interesting trends:

1. Multiple Offer Situations
My husband, who buys homes, was recently one of thirteen offers on a single property in the $250,000 range. Another agent in our Bend, Oregon office mentioned that she was ready to make an offer on a home, and when she called the listing agent there were 27 offers already made on the property. In fact, four other agents at The Garner Group have run into similar problems recently.

2. Low Inventory
Inventory in MLS is the lowest it’s been in a long time, with only 495 residential listings in Bend, Oregon right now. Last month’s inventory was in the 570 range, so this would indicate that houses are selling faster than agents can list them! (Seems like the perfect time to list a home, yes?)

3. Transactions, Transactions (I’m Busy!)
In January of this year I opened 41 transactions with 38 of those accepted and on schedule to close. To have 93 percent of the transaction written in our Bend, Oregon real estate office come together and close is fantastic. This is compared to January 2010, when I opened more than 30 transactions and only had 13 that closed as scheduled.

Another interesting note: MLS average sales price for 2010 was $191,750. The Garner Group average sales price for 2010 was $320,089. I think that’s pretty awesome and wanted to share! We’re working hard as your Bend, Oregon real estate experts.

It's Still a Buyer's Market In Bend, Oregon

While falling home prices may not be the news some homeowners want to hear right now, it is true that these trends are making it easier than ever to buy a new home in one of the best places on earth - Bend, Oregon! In a recent news broadcast on our Bend, Oregon real estate market (our own Sara Garner Lafaver was interviewed), a cited report showed that median home prices have dropped 57 percent over the last five years.

See the full story at the KTVZ web site here: http://www.ktvz.com/news/26474780/detail.html

This is not bad news for those looking to buy here in Bend, Oregon - there are some wonderful deals on homes and many are hoping that visitors will decide to take up permanent residence with us. Are you a buyer looking for a home in Bend? We're the experts! Contact us today at info@thegarnergroup.com or call at 541-383-4360.

To all our friends…

The holiday season is upon us and we at The Garner Group wish to express our heartfelt best wishes to all of you for Christmas and the New Year. In support of a paperless environment, we continue our practice of employing an Internet-based platform to extend a message of good cheer. Our wishes are no less sincere when transmitted through cyberspace than along the route of the postal carrier.

Our third year as a Bend, Oregon independent real estate company is ending on an optimistic note, both for our business and for the local real estate market as a whole. We have added several brokers to the agent roster this year and all are making a valuable contribution to the success of our enterprise and the level of service we provide our clients.

We particularly want to thank the many people beyond our office walls who have contributed to our success. The efforts of lenders, builders, developers, title and escrow officers, vendors and our transaction partners in the local real estate community have combined to help many home buyers and sellers accomplish their objectives in 2010. We also extend to our long-time friends and supporters special thanks and blessings in the holiday season and beyond.

The coming year will be filled with challenges and opportunities. We look forward with optimism.

“We are all inventors, each sailing out on a voyage of discovery, guided each by a private chart, of which there is no duplicate. The world is all gates, all opportunities”—Ralph Waldo Emerson

Merry Christmas and Happy New Year!