Glenda Crowell

REFLECTION -- NOITCELFER

noreply@blogger.com (Glenda) — Mon, 04 Jan 2010 17:18:00 +0000

2009 has been a tumultuous year economically and emotionally. Economic change has hit Bend Oregon hard. Foreclosures have stemmed from a great loss in value as well as job loss throughout Central Oregon. The hardest hit counties are Jefferson and Crook. People are resorting to creative ways to earn survival money. Odd jobs, junking for resale as well as taking any job available is the key for many previously prosperous locals. Craigslist is peppered with items being sold to pay for necessities such as rent, food and utilities.

The unrealistic expectations for profit and social materialism created the false market from which we are now recovering. More consumers returned to a cash/barter system rather than a credit based life. America as a whole took a crash course in personal finance as the market dove downwards. While visiting Portland and San Francisco in 2009 I was amazed how unaffected the cities seemed to be by our economic crisis. There are micro pockets of severe economic issues while the macroeconomic situation is impacted less.

On a positive note, younger buyers took advantage of incentives and entered the market as new homeowners. New business ventures cropped up as previous employees and business owners faced a paradigm shift. Continued economic change forced downsizing of living space expectations for some, which improved levels of happiness as well as quality of life. Shared living space has proved a saving factor for some homeowners and renter.

With all this in mind, I am thankful I have my home and although there were traumatic experiences in 2009, I like many others have survived. My thoughts are with those who did not survive either by choice or natural cause. The closing of 2009 like all other years comes with New Year resolutions and the hope for economic improvement!

Beware of Foreclosure Rescue Scams

noreply@blogger.com (Glenda) — Thu, 31 Dec 2009 17:10:00 +0000

Many homeowners have paid hard earned and non disposable income to modify a mortgage through companies promising the moon and delivering cheese. Some call for advice from local professionals and after research determine the assistance is bogus. There are free resources including the mortgage holder. Before paying a company to process paperwork go to http://makinghomeaffordable.gov/eligibility.html. The link takes a user directly to the eligibility page.

During the information seeking period there are resources available in your local area.Call a local professional such as a mortgage broker, realtor or trusted attorney for advice. Call your mortgage company or visit the company website to begin a modification or permissible short sale. The options are many! An attorney may charge for advice but many professionals will sit down and review avenues of recourse without charge.

Use the following excerpt form MHA website during your process!
• Assistance from a HUD-approved housing counselor is FREE. Beware of anyone who asks you to pay a fee in exchange for counseling or a loan modification.
• Beware of people who pressure you to sign papers immediately.
• Do not sign your deed over to anyone unless you are working directly with
your mortgage lender to forgive your debt.
• Never make a mortgage payment to anyone other than your mortgage
lender without their approval.

Home Affordable Modification
Learn how you may be able to make your mortgage payment more affordable.
ACT NOW TO GET THE HELP YOU NEED! ACT NOW TO GET THE HELP YOU NEED! ACT NOW TO GET THE HELP YOU NEED!

Post Coming Soon: New changes to HAMP making modifications and short sales a viable alternative to foreclosure.

Happy New Year...

noreply@blogger.com (Glenda) — Thu, 31 Dec 2009 16:46:00 +0000

2009 has wound to a close and I am hopeful 2010 will bring some economic change. The latest modification plan sounds positive for homeowners facing loss. The changes HAFA or Home Affordable Foreclosure Alternatives is implementimg make modifications and short sales a little more feasible for homeowners still struggling in today's economy. The following is an excerpt from NAR's website (National Association of Relators).

Servicers participating in HAMP or Home Affordable Modification Program are also required to comply with HAFA. A list of servicers participating in the program is available at http://www.makinghomeaffordable.gov/.

•• Complements HAMP by providing a viable alternative for borrowers (the current homeowners) who are HAMP eligible but nevertheless unable to keep their home.
•• Uses borrower financial and hardship information already collected in connection with consideration of a loan modification.
•• Allows borrowers to receive pre-approved short sales terms before listing the property (including the minimum acceptable net proceeds).
•• Prohibits the servicers from requiring a reduction in the real estate commission agreed upon in the listing agreement (up to 6 percent).
•• Requires borrowers to be fully released from future liability for the first mortgage debt (no cash contribution, promissory note, or deficiency judgment is allowed).
•• Uses standard processes, documents, and timeframes/deadlines.
•• Provides financial incentives: $1,500 for borrower relocation assistance; $1,000 for servicers to cover administrative and processing costs; and up to $1,000 for investors for allowing a total of up to $3,000 in short sale proceeds to be distributed to subordinate lien holders (on a one-for-three matching basis).

The program does not take effect until April 5, 2010, but servicers may implement it before then if they meet certain requirements. The program sunsets on December 31, 2012.

Statistics Update Bend Oregon 3 bedroom 2 bath

noreply@blogger.com (Glenda) — Wed, 30 Dec 2009 06:00:00 +0000

The active/contingent list under $100,000 in Bend continues to grow - in the search parameters there are 17 homes below the mark as of December 29, 2009 @ 10:00 PM.

The following is a summary from Central Oregon MLS :

Search Parameters: 3 bedroom, 2 bath in zip codes 97701 and 97702.
Total 336 Homes in Active or Contingent Status ~
Price Range $79,900 - $999,900
Average List Price $209,835 -
Average Square Feet 1,58o -
Average Price per sq ft $131 -
Average Days on Market 192.

For the statisticians out there the median home price for current range is $180,000.

Sold Stats for November 01 - 30, 2009, same search criteria:

Total 48 Homes Sold ~
Price Range $65,000 - $387,000
Average List Price $173,593 -
Average Square Feet 1,485 -
Average Selling Price per sq ft $116 -
Average Days on Market 139.

Where's the SNOW....and whats up with the ECONOMY?

noreply@blogger.com (Glenda) — Thu, 11 Dec 2008 19:21:00 +0000

The active/contingent list under $200,000 in Bend continues to grow - in the search parameters there are 79 homes below the mark as of December 11, 2008 @ 11:27 AM.

The following is a summary from Central Oregon MLS :

Search Parameters: 3 bedroom, 2 bath in zip codes 97701 and 97702.
Total 304 Homes in Active or Contingent Status ~
Price Range $129,000 - $775,000
Average List Price $279,954 -
Average Square Feet 1617 -
Average Price per sq ft $172 -
Average Days on Market 151.

For the statisticians out there the median home price for the current price range is $249,900

Bend Oregon Residential Sales 2000, 2003 - 2008

noreply@blogger.com (Glenda) — Tue, 11 Nov 2008 19:19:00 +0000

Statistical chart for Bend Oregon residential sales includes median home price, days on market and other pertinent information. Statistics retrieved from Central Oregon MLS. Click on chart to view full size ~ use back arrow to return to blog!

October Stats There Flies the Snow

noreply@blogger.com (Glenda) — Tue, 28 Oct 2008 17:22:00 +0000

Central Oregon is feeling a chill in the air. Due in part to the coming winter and in part to the suppressed economy. Whether waiting for election results or a break in the job market there is hesitation across the board economically.
The active/contingent list under $200,000 in Bend has grown substantially - in the search parameters there are 68 homes below the mark as of October 28, 2008 @ 10:25 AM.

The following is a summary from Central Oregon MLS :

Search Parameters: 3 bedroom, 2 bath in zip codes 97701 and 97702.
Total 329 Homes in Active or Contingent Status ~
Price Range $145,669 - $895,000
Average List Price $293,247 -
Average Square Feet 1614 -
Average Price per sq ft $180 -
Average Days on Market 145.

For the statisticians out there the median home price for the current price range is $259,000

Buyers selection is phenomenal and prices are becoming more favorable. Bank owned (REO) properties are increasing and some are priced quite well.

Residential Sales Prices Compared to Assessed Values: Deschutes County

noreply@blogger.com (Glenda) — Wed, 15 Oct 2008 17:42:00 +0000

Click Picture To Enlarge....

THE CREDIT NAZI. .NO HOUSE FOR YOU!

noreply@blogger.com (Glenda) — Mon, 06 Oct 2008 17:18:00 +0000

We have all seen Seinfeld. In the episode The Soup Nazi "NO SOUP FOR YOU" is the feared response as the characters attempt satiation.

Currently in our real estate office, the phone lines hop with calls soliciting loans for our current and prospective clients. From personal experience, the percentage of homebuyers using credit has diminished greatly in the past year. Of course, the solicitors are persistent and insistent...every product solves the solution for buyers in this tough market. Whether the products are real or not is a mute point as fear of fraud runs rampant on both sides.

Stories of credit woes abound as people attempt to purchase or refinance a home in the ever-tightening world of credit. Couples with high credit scores and a down payment can find themselves denied at the wire, literally days to signing, and unexpectedly “NO HOUSE FOR YOU”! The buyers ease away from the figurative table with a sense of despair wondering what caused the sudden shift in lendability. Expecting an explanation much beyond ‘it came from above’ is pie in the sky. The powers that be make the rules and change them at will. As in the Seinfeld episode buyers Tiptoe to the table, sign quietly, and DO NOT ASK FOR BREAD...still something may tip the scales and result in a sudden jerking away of the unfulfilled dream.

Alas, purchasing is still possible and properties are closing even with the tougher lending standards. The numbers shift seasonally and with economic news. The screaming deals are surfacing here in Bend Oregon. We have several homes under $170,000. Some are fixers but many are newer starter homes just waiting for occupants.

I am compiling a chart depicting Deschutes County loan recordings by month in 2008 in relation to MLS listings closed; will post upon completion…double checking my sources :))

Bailout Solution; Getting Out of the Box...

noreply@blogger.com (Glenda) — Thu, 25 Sep 2008 15:57:00 +0000

The news of impending bailouts has grasped the attention of America! The bailouts favor failing corporations that would otherwise collapse. Our free enterprise system of economics is setup to promote individual ability free from governmental interference. Below you will find a list of principles from The American System of Business:

Our business system is based upon four basic principles:
(1) freedom of choice;
(2) private property rights;
(3) profit motive of owners; and
(4) owner control.

Where does a bailout fit in the basic principles? Not seeing that one covered...are you?

I received the following in from a locally generated email. Applying the principle below to the proposed 700(+) Billion dollar bailout would inject an amazing amount of money at the end user level. Years ago as a supervisor at UPS I received training instructing us as leaders and managers to "get out of the box". Economically we are not just in a box but a deep and wide hole. From experience you do not get out of a hole by continuing to dig.

I do not have a solution but people are thinking creatively. Motivation is the sluggish economy of course but nonetheless the thoughts are being generated. Saving specific sectors of our economy is applying a bandaid when major surgery is required.

Read the following from Birk and T.J. and please comment or suggest your own creative solution. NOTE: *The math was incorrect in the original letter ~ I highlighted the correct answer throughout. I enjoyed T.J. and Birk's creativity and wanted to leave the post for further comments!

Hi Pals,

I am against the $85,000,000,000.00 bailout of AIG.

Instead, I am in favor of giving $85,000,000,000 to America in a 'We Deserve It Dividend'.

To make the math simple, let us assume there are 200,000,000 bon-a-fide U.S. Citizens 18+.

Our population is about 301,000,000 +/- counting every man, woman and child. Therefore, 200,000,000 might be a fair stab at adults 18 and up.

So divide 200 million adults 18+ into $85 billion that equals $425,000.00 (actually only $425 - Jen checked their math).

My plan is to give $425,000 (actually only $425) to every person 18+ as a 'We Deserve It Dividend'.

Of course, it would NOT be tax-free. So let us assume a tax rate of 30%.

Every individual 18+ has to pay $127,500.00 ($12.60) in taxes. That sends $25,500,000,000 (2,520,000,000) right back to Uncle Sam.

However, it means that every adult 18+ has $297,500.00 ($413.00) in their pocket. A husband and wife have $595,000.00 ($826.00).

What would you do with $297,500.00 ($413.00) to $595,000.00 ($826.00) in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it will be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else

Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. In addition, of course, for those serving in our Armed Forces.

If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( "vote buy" ) economic incentive that is being proposed by one of our candidates for President.

If we are going to do an $85 billion bailout, let us bail out every adult U S Citizen 18+!

As for AIG - liquidate it. Sell off its parts.

Let American General go back to being American General.

Sell off the real estate.

Let the private sector bargain hunters cut it up and clean it up.

Here is my rationale. We deserve it and AIG does not.

Sure, it is a crazy idea that can "never work".

However, can you imagine the Coast-To-Coast Block Party!

How do you spell Economic Boom?

I trust my fellow adult Americans to know how to use the $85 Billion 'We Deserve It Dividend' more than I do the geniuses at AIG or in Washington DC.

In addition, remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam. Ahhh...I feel so much better getting that off my chest.

Kindest personal regards,

Birk

T. J.

Birkenmeier, A Creative Guy & Citizen of the Republic

Note: Thanks to Jen for verifying the math ~ The corrected number is $425.

Is the Mortgage Industry 'Too Big to Fail'?

noreply@blogger.com (Glenda) — Mon, 22 Sep 2008 15:27:00 +0000

Is this all pie in the sky? Or can an entire industry be rescued and the housing sector revived with a stroke of the pen? Talk of stirring investors prepared to purchase large blocks of property already sparks a glimmer of hope. With the massive bailout (yes I believe $700 billion to be massive) will our world suddenly snap back into place? Previous bailouts have ended with various results. This one could make the government a buck or two (billion). How accountable is our system? Where will the profits go?

Can we solve a crisis with this type of reaction? Injecting the housing industry with $700 billion worth of government owned real estate may be one answer...but should we look for others?

In a Nut Shell the Bailout if enacted will...

Expire two years from enactment (the end is near).
Treasury Secretary will have broad authority to buy up to $700 billion in mortgage-related assets from any US financial institution.
Government will have power to designate financial institutions as "financial agents of the government" and require them to carry out ensuing "reasonable duties".
Treasury secretary must consider both providing market stability and protecting taxpayers.
Mandate government reporting to congressional budget, tax writing, and financial services committees within three months of using the authority and thereafter biannually.
Inject liquidity into a failing industry creating stability where failure is imminent (hmmmm).

Vultures are Circling Way Down South...

noreply@blogger.com (Glenda) — Sun, 21 Sep 2008 23:45:00 +0000

Looking for deals in real estate seems simple enough. Some buyers wait until sellers are starved enough to take any offer and then make a move. In the South Florida real estate market the scavengers are preparing to land. Searching through history I find the Florida market slipping in spring 2006. Bend Oregon was a few months behind the initial slide in Arizona, California, Nevada and Florida.

A recent Miami Herald article by Douglas Hanks indicates change may happen soon. In his article Vulture funds may lift real-estate market in South Florida Mr. Hanks refers to desperate sellers and tenacious investors. "As many as 100 investment funds are shopping for South Florida real estate, hoping to buy extremely low during the current crisis. Their main target: condominium towers where developers and their lenders can't sell enough units to pay off the loans used to build them."

We all have heard (and experienced) history repeats itself. With this in mind investors should step up local searches in Bend preparing to negotiate a deal. Following responsiveness in leading markets could be an edge for savvy investors.

To Buy or Not to Buy Real Estate in Today's Market

noreply@blogger.com (Glenda) — Wed, 17 Sep 2008 18:14:00 +0000

News of declines, scams and mortgage failures continue to crop up daily. Searching for a home or investment has ear markings of a Macy's sale...the prices are awesome but will another price reduction be around the corner? Keeping an eye on the market is advisable as the perfect property will not be available forever. Use criteria and resources when making your decision such as the following:

Need: Do you need a home to live in or an investment for future gains (in my opinion flipping is not profitable in a down market).

Price and Product: When you find a property meeting or exceeding search parameters determine whether the price is at, below or above current market conditions. This is best achieved through your real estate broker with MLS access. Make a criteria list and compare homes to determine the best fit.

Time available: Planning another move in the near future? Then hold off buying or buy with a backup plan such as renting. Be prepared to hold your purchase for a minimum of 5 - 7 years before reselling.

Mortgage Options: Go to a reputable lender and determine ability to buy. Programs have limitations or have been entirely eliminated. An upside to the current slipping market is the abundance of homes and flexible mindset of many sellers. Negotiation of a partial owner carryback, owner carry or a lease option is possible.

Real Estate Broker: Find a broker willing to work hard for your best interest.

Develop a Plan: Brainstorm and outline your motivating factors, desired outcome and path to your final goal. May your process be successful!

As the ripple effect continues opportunities abound. Making aggressive offers on bank owned property can lead to owning a prime property at minimal price. Acquiring the best property at the best price will require legwork and patience. Waiting till market bottom is obvious will mean you waited too long.

James B. Stewart advises investors to ..."remember the Common Sense mantra: Don't panic; don't follow the herd. Be prepared to take advantage of any further declines. I'm confident your discipline and patience will be rewarded". The full text of Mr. Stewart's current investment strategy - Current Crisis Could Set the Stage for Future Gains

Leave a comment on your process or success. Questions are welcome and will be answered promptly!

Spend the Winter Hitting the Slopes ~ A Strong Possibility with Bend Oregon Market Conditions!

noreply@blogger.com (Glenda) — Mon, 08 Sep 2008 21:48:00 +0000

That second home dream could be attainable with the current drop in the market. Personaly I am hoping for a long Indian Summer in Bend Oregon. More buyers are scheduling showings and preparing to make a purchase. There are several homes under $200,000 in Bend ~ WOW!! At 2:45 on Sept 8, 2008 the following was retrieved from Central Oregon MLS :

Search Parameters: 3 bedroom, 2 bath in zip codes 97701 and 97702.
Total 377 Homes in Active or Contingent Status ~
Price Range $159,000 - $895,000
Average List Price $293,228 -
Average Square Feet 1573 -
Average Price per sq ft $185 -
Average Days on Market 129.

For the statisticians out there the median home price for the current price range is $259,900

Buyers selection is phenomenal and prices remain favorable. Short sales are common and more bank owned (REO) properties are surfacing. Number of homes listed fitting the parameters is rising while price per sq ft has dropped $15 since spring statistics. Average list price, sq ft and days on market continue to drop.

Where is Spring? Bend Oregon Housing and Weather still Waffling!

noreply@blogger.com (Glenda) — Thu, 22 May 2008 19:30:00 +0000

The weather is changing daily in Bend Oregon and the real estate market is waffling with the weather. Even with continued listing changes more buyers are writing offers in an attempt to gain advantage during the lingering cool spell. At 11:45 on May 22, 2008 the following was retrieved from Central Oregon MLS :

Search Parameters: 3 bedroom, 2 bath in zip codes 97701 and 97702.
Total 327 Homes in Active or Contingent Status ~
Price Range $160,000 - $995,000
Average List Price $314,312 -
Average Square Feet 1602 -
Average Price per sq ft $196 -
Average Days on Market 131.

Buyers have a great selection on the market and prices are increasingly favorable. Short sales are common and more bank owned (REO) properties are surfacing. Number of homes listed fitting the parameters is rising while price per sq ft continues to drop. Average list price and sq ft are also decreasing.

Spring has Sprung and the Real Estate Market Continues to Change!

noreply@blogger.com (Glenda) — Thu, 10 Apr 2008 18:53:00 +0000

Early spring flowers are surfacing in Bend Oregon and the real estate market is feeling a warming with the weather. More buyers are scheduling showings and preparing to make a purchase. MLS statistics from the first quarter '08 are reflecting the much discussed buyers market! At 11:45 on April 10, 2008 the following was retrieved from Central Oregon MLS :

Search Parameters: 3 bedroom, 2 bath in zip codes 97701 and 97702.
Total 286 Homes in Active or Contingent Status ~
Price Range $160,000 - $995,000
Average List Price $321,999 -
Average Square Feet 1603 -
Average Price per sq ft $200 -
Average Days on Market 137.

Buyers have a great selection on the market and prices are still favorable. Short sales are common and more bank owned (REO) properties are surfacing. Number of homes listed fitting the parameters is rising while price per sq ft has dropped slightly. Average list price and sq ft have both decreased since February's post.

Bend Oregon Real Estate Looking Positive

noreply@blogger.com (Glenda) — Wed, 27 Feb 2008 18:58:00 +0000

The annual real estate forecast brought good news for the local real estate market. Click on article to view ~ use back arrow to return to blog. Does this mean the market is facing a sudden shift? Will the forecast create a slowing of the market as people wait for better times? From past experience what do you expect in the Bend market (or other markets)?

Comments and questions are welcome!

February 22nd ~ Bend Oregon Real Estate Market

noreply@blogger.com (Glenda) — Fri, 22 Feb 2008 22:27:00 +0000

The snow is melting in Bend Oregon and the real estate market is feeling a warming with the weather. At 2:25 on February 22, 2008 the following was retrieved from Central Oregon MLS :

Search Parameters: 3 bedroom, 2 bath in zip codes 97701 and 97702.
Total 253 Homes in Active or Contingent Status ~
Price Range $180,000 - $995,000
Average List Price $339,269 -
Average Square Feet 1634 -
Average Price per sq ft $207 -
Average Days on Market 150.

The selection is changing as the weather warms and buyers are putting offers on the table. Short sales are common and more bank owned (REO) properties are surfacing. Number of homes fitting the parameter has decreased as well as price per sq ft. Average list price and sq ft have both increased slightly.

January was a busy month and thus statistics were not posted. Check back in the next week for sold and pending statistics ~ same parameters.

Finding a motivated seller and closing a deal now may be in the buyers best interest. Mortgage rates are more favorable according to Cindy Goodman @ Cascade Mortgage Company in Bend. (Email questions or comments to Cindy Goodman.)

Bend Oregon Housing Dropping to Affordability?

noreply@blogger.com (Glenda) — Wed, 23 Jan 2008 20:57:00 +0000

The picture above may have been accurate in previous years but with recent market changes buyers are getting more house for their dollar. Will 2008 bring new lows for the Bend area housing market? The current "bottom" of the market is floating around $210,000. This new development is touting prices as low as $189,900. What will I get for $190k? That remains to be seen. The prospect of lower prices for new homes is inviting for first time buyers and those investing in rental housing. Another valid question is whether the market will bear another 38 acres of houses. According to the article the property is approved for 265 homes. Locally developers are offering 6 months no payment and other aggressive incentives packages in a attempt to move inventory.

Should home builders step back and slow down? The word on the streets is "Bend is still Bend and people want to live here"... Will a continued building of supply stimulate an already sluggish market? Post your responses ~ I would love to hear your opinion!

PS...in case you are wondering the picture and story are a cut and paste...the homes will be stick built starting around 1100 square feet with 2 beds and 2 baths.

December 29th - Bend Oregon Real Estate Market

noreply@blogger.com (Glenda) — Sat, 29 Dec 2007 19:35:00 +0000

Bend Oregon has premium homes for sale as does most of America. At 11:35 on December 29th 2007 the following was retrieved from

Central Oregon MLS :
Search Parameters: 3 bedroom, 2 bath in zip codes 97701 and 97702.
Total 266 Homes in Active or Contingent Status ~ a decrease of 42 homes since November 2007
Price Range $149,900 - $1,080,510
Average List Price $338,091 - a decrease of $4051 since November and $20,295 since July
Average Square Feet 1598 - average square footage has also decreased slightly down 27 sq ft.
Average Price per sq ft $211 - Which leads to a holding in price per sq ft at around $211
and down 105 since July 2007's post.
Average Days on Market has decreased to 141 from Novembers 211.

The selection has decreased substantially since July 2007 and motivated sellers are eager to sell. Buyers are making offers and many are being accepted. The option of holding property for long term purposes rather than selling in the current market is becoming more appealing to some sellers. Recent options still include renting, lease optioning, holding the property for future use or sale.

Finding a motivated seller and closing a deal now may be in the buyers best interest. Mortgage rates are more favorable according to Cindy Goodman @ Cascade Mortgage Company in Bend. (Email questions or comments to Cindy Goodman.)

November Update ~ where is the Bend Oregon market headed??

noreply@blogger.com (Glenda) — Wed, 07 Nov 2007 19:03:00 +0000

Search Parameters: 3 bedroom, 2 bath in zip codes 97701 and 97702.
Statistics from Central Oregon MLS ~
Total 308 Homes in Active or Contingent Status ~ a decrease of 24 homes since October 5th, 2007.
Price Range $159,900 - $1,050,000
Average List Price $342,595

Average Square Feet 1625

Average days on market 211

The selection remains broad although homes meeting the criteria has fallen by another 32 which equates to a drop of 77 since the August update, average list price has dropped and square feet is remaining within a small range. Sellers continue offering concessions to prompt a purchase, ranging from selling incentives to buying incentives. Some of the recent options we are seeing are renting, lease optioning, holding the property for future use or sale

Recent media is dominated by subprime mortgage write downs. The impact astronomical and being felt at a worldwide level. The economic outlook remains uncertain. Interestingly our economy is not falling apart in the wake of massive losses. There are bargains available on the market and inventory is plentiful.

If you need a home ~ buy a home! There are deals out there and there is no time like the present.

Housing; Doom and Gloom or Preparing to Rise??

noreply@blogger.com (Glenda) — Fri, 05 Oct 2007 19:19:00 +0000

My previous blog referenced two video casts from CNN. One an interview with Donald Trump and the other Glenn Beck with two guests. How bad is the forecast and what are we basing our forecast on? As our dollar slides what are we doing (as in every American) to bolster our economy? Are we running to foreign countries and swapping for "better" currency? Some are! Are we saving money in preparation for possible bad times? Some are! Are we voting for a politician who will increase our problems astronomically through unfounded reforms? Some WILL!

The Kiplinger Business Resource Center published a GDP update on September 7th 2007 projecting housing to be stabilized by mid 2008. Consumer spending is expected to ease back to 2% in the coming year. Housing is expected to slide a little over half the slide of 2007 (13% down to 7%). Will this hold true for all of America? There are still housing hotspots where values are increasing ~ this of course means some other values have slid further.

Before stepping up and throwing in the dollar consider your own spending and saving habits. As a nation we spend far more and owe far more than our incomes should allow ~ get yourself on track to financial well being. This would do far more to bolster our economy than getting another line of credit to ride out the bad times. Vote for politicians who work to improve our nation's financial position!

October Update ~ Time to Buy in Bend Oregon?

noreply@blogger.com (Glenda) — Fri, 05 Oct 2007 17:18:00 +0000

Search Parameters: 3 bedroom, 2 bath in zip codes 97701 and 97702.
Statistics from Central Oregon MLS ~
Total 332 Homes in Active or Contingent Status ~ a decrease of 45 homes since August 1st, 2007.
Price Range $199,000 - $1,050,000
Average List Price $344,898
Average Square Feet 1627

The selection remains broad although (number of) homes meeting the criteria has seen a reduction of 45, average list price has dropped and square feet risen by 5 since the August update. Some sellers are motivated to sell and are offering concessions to prompt a purchase. Buyers still seem to be hesitating although interest rates are friendly. Some of the recent options we are seeing are renting, lease optioning, holding the property for future use or sale.

Recent media is on one side of the fence or the other. Donald Trump in an interview on CNN agrees with Alan Greenspan on the state of the housing market. Glenn Beck also on CNN shares views of the economy and the possibility of further declines in housing values. Where we are headed economically remains to be seen. Speculation put us here, can speculation change where we are headed? If you need a home ~ buy a home! There are deals out there and there is no time like the present.

Medford Oregon

noreply@blogger.com (Glenda) — Tue, 25 Sep 2007 21:47:00 +0000

While visiting Medford Oregon recently I spent time traveling around the city looking at real estate. With property for sale in all areas Medford appears to have a great inventory for buyer selection. The number of McMansions in Medford seemed great in comparison to many areas I have recently visited. Bella Vista Heights with a beautiful waterfall entrance had several lots sold and tagged for the Street of Dreams. The new subdivision has several lots overlooking RoxyAnn Winery and Hillcrest Orchards. Driving out Hillcrest Road beyond RoxyAnn Winery I found many large new homes mixed with a few older neighborhoods.

At the end of Hillcrest I found a dream property of 40 acres with two homesites and 1 home, the view was incredible (see pic below). I called the broker listing the property and for a mere $595,000 solitude with a view could be mine.

Wildlife was plentiful on the drive to the end of Hillcrest Road and portly barn stood guarding the fields.

The Southern Oregon region is beautiful, rustic, modern and the weather was exceptional in September. Outdoor recreation is readily available including fishing, hunting, camping, cycling, water sports, snow skiing, whitewater rafting, golf and many other popular recreational adventures. There are several fine wineries in the area and I finished my day visiting 3. RoxyAnn Winery, Eden Vale Winery and Agate Ridge Vineyard. The experience at each winery will be blogged at wine2dine.

I recommend a visit to Southern Oregon to take in the sights and enjoy all the area has to offer.

Stuck in an Airport ~ Contemplating Real Estate

noreply@blogger.com (Glenda) — Thu, 06 Sep 2007 23:52:00 +0000

Here I sit in Nashville waiting for a delayed flight so I can then spend the night in Salt Lake City. Airport delays bring unexpected sidebars to an expected return. Interesting how a vacation can turn into a work related inconvenience. Getting home to Bend is a high priority as business is piling up as well as the mail. For now work will wait as I contemplate real estate in other territories.

Spending time more than halfway across the United States has given a new perspective to the current real estate market. In Southwestern Tennessee/Northwestern Kentucky there are many homes that appear to be real bargains. Given the impending deployment of local units the bargains change into a less appealing investment. The loss of 15,000 local troops in the Fort Campbell area as well as many family members will drastically reduce population in the local town. Will bargains abound as many attempt to unload a now unaffordable mortgage? Is there investment potential once a deployment is underway? As the mother of two fine United States Army Soldiers I do not promote taking advantage but the situation may arise where a family seriously must sell and being there to make the purchase may ease an already intensely stressful situation.

The local pricing is well below Central Oregon with homes ranging from $40,000 and up. At $40,000 you can expect to put a little more than light elbow grease into the project. Several local ads purported "needs more than a coat of paint". A person with local residential needs could capitalize on the market situation ~ of course this is true of the local Bend Market as well.

During my travels I ventured up to Detroit Michigan and Windsor Canada. The area is experiencing the same slow market as much of the United States. With all the seeming bargains are there deals worth a sudden investment? The Lake Erie area is gorgeous and the end of summer weather simply marvelous.
A vacation home in this area would be well used and with good negotiations could equate to a bargain. Quaint local wineries such as Erie Shore and Colchester Ridge with premium wines, boating on the lake, biking or just socializing could fill many days. There are many activities available in the greater Detroit area (WOW never thought I would consider Detroit a vacation spot).
The time is ripe for exploration of this beautiful country in seek of bargains. The focus of this vacaiton was a visit with number one son (US Army Soldier) and his bride of one year ~ The thoughts on real estate began building upon my initial delay in Nashville. Looking forward to seeing Bend SOON !!!