Each Wednesday, the brokers in my Sotheby’s office gather together at our Old Mill location to talk real estate –- we share upcoming listings, discuss current market trends, review changes in our contract forms and generally exchange info. Recently, however, we headed to Tetherow for an update on what’s been happening at Bend’s newest golf resort. It turns out, the answer to that is “plenty.”
Yes, it’s been a very busy year for the burgeoning community.

• In the past 12 months, 102 properties have sold (or are pending), including 39 home sites and 63 homes or townhomes.
• Tetherow Grill was just revamped and renamed “Solomon’s” (in honor of pioneer Solomon Tetherow, who led a wagon party through Central Oregon in the mid-1800s).

  
  The new menu will rotate often to take advantage of seasonal ingredients. The renovated interior features a 360-bottle wine rack. The restaurant is open Wednesday-Sunday from 4:30 p.m. to close.

• Tetherow Sport, the club’s new fitness center, opens Memorial Day weekend. It’s adjacent to the club’s heated, outdoor pool and hot tub, which opened last July. Men’s and women’s locker rooms, each with their own sauna and steam room, are located on the first floor of the sports center, with direct access to the pool deck.

  
  Also on the first floor is a café with a poolside service window as well as indoor seating. The pool deck also features fire pits, five cabanas, a food cart; and grassy areas. Fitness Manager Dominic Gatto, who spent six years managing two employee gyms at Nike’s World Headquarters in Beaverton, says he wants the sports facility to become another community gathering spot, where members can attend a class or work out, soothe sore muscles afterward in a sauna or steam room, then grab a smoothie from the café and relax poolside. The facility has three exercise rooms and several offices that overlook the Deschutes National Forest to the south and have an unobstructed view of Mount Bachelor to the west. Yoga classes will be offered in an upstairs studio, with the group exercise room next door.

• A new Event Pavilion, a 3,600-square-foot event space, also opened last July. The Pavilion, adjacent to Tetherow’s real estate office and guest services front desk, includes a boardroom, several office-size meetings rooms, a kitchen and free-form space that connects the areas. It also boasts a banquet hall with soaring ceiling, large stone fireplace and expansive windows overlooking the golf course and mountains to the north.
• Last summer, Tetherow also created several new trails around the property. While Tetherow maintains a paved, roughly three-mile trail loop that follows Skyline Ranch Road, Metolius Drive and Meeks Trail Drive, the resort is also developing trails designed for mountain bikers and hikers that wind through more natural areas and include some viewpoints.
• Tetherow has also become Oregon’s first golf course to be designated as a certified signature bird sanctuary by Audubon International. Within Tetherow, there are nine established birding trails featuring hundreds of species of birds, including great Horned owls, Lewis woodpeckers, Western and mountain bluebirds, kestrels, an Osprey and red-tail hawks.

  
  

• On the homesite front, the Crescent neighborhood is in expansion mode: 28 homesites have been added to the north end of Hosmer Lake Drive, adding lots up to one acre that have outstanding mountain views. Prices range from the mid-$200s to mid-$400s.
• The new Cairn Vacation Homes, which are being built in the center of the resort, are meant to for part-time use with an eye towards investment (the 22 homes may be used for overnight rentals). Tetherow Management can manage these for the owner and help generate a positive return on the home while not in use by the owner. The homes come fully furnished, with a washer, dryer and completely outfitted kitchen. All seven of the homes in Phase 1 have already been sold. While the homes are owned by individuals, Tetherow Management will oversee the properties, handling rental, marketing, housecleaning between guests and maintenance. The homes must be available for rent 38 weeks of the year, but owners may stay whenever the home is vacant. Rentals are subject to minimum night stay requirement.

Living at Tetherow 

Tetherow encompasses 700 acres on Bend’s west side. Although known for its distinctive 18-hole golf course, it considers itself both a a golf and recreational planned resort community. With good reason: It’sl ocated within walking distance of a vast network of hiking and biking trails and en route to Mount Bachelor. In addition to a 50-room boutique hotel, pool, two restaurants, event pavilion and golf academy, Tetherow features eight residential neighborhoods, including a mix of single-family homes, townhomes, cabins and vacation homes.

Tetherow Home Prices:

• Tetherow Cabins start in the high-$500,000s.
• The Cairn vacation homes start in the low $700,000s.
• Tripleknot Townhomes start in the high $700,000s
• Homes in The Rim start in the high $800,000s.
• Homes in Tartan Druim start at just over $1,000,000.
• Homesites range from 1/3 acre to just over an acre, starting in the mid $200,000s (including the Glen, Crescent and Heath neighborhoods).
• There are no timeshares at Tetherow.

Here are a few more photos of life at Tetherow:

About the Author
Lisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and Redmond.

 

In April, the winter-weather slowdown in Central Oregon made way for spring selling activity.

According to the May Beacon Report, Bend had 220 Single-Family Residential (SFR) sales last month compared to 170 sales in March, an increase of almost 30 percent. Redmond recorded 67 sales, up from 63 sales the prior month. Sisters had 12 sales, compared to seven sales in March.

Meanwhile, the days on market decreased significantly in all three markets: Properties that sold in Bend during April were on the market an average of just 63 days, compared to 106 days in April. Similarly, properties that sold in Sisters were on the market just 42 days, compared to 98 days in April. And properties that sold in Redmond during April were on the market 94 days, compared to 126 days in April.
When it came to sales price, Sisters saw quite a jump last month: The median price of SFR sales in Sisters during April was $445,000, compared to $336,000 in March. (Keep in mind that in a smaller market like Sisters, which saw just a dozen sales in April, it’s more likely to see dramatic price fluctuations, because of the impact of a single high-end sale. Or, in this case, a number of higher-end sales, including a sale at $900,000 and a handful of $500,000 sales).

Bend and Redmond, on the other hand, saw little change in price: The median price of SFR sales in Bend was $394,000, compared to $396,000 in March. That’s a sizable jump, however, since a year ago at this time, when the median sales price in Bend was $374,000. Likewise, the median price of SFR sales in Redmond was $285,000, compared to $284,000 in March and $245,000 in April 2016.

About the Author
Lisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and Redmond.

During the first quarter of 2017, it was more of the same, when it came to real estate sales activity in Central Oregon. And by “more,” of course, I mean less. Well, fewer, actually — as in listings and in sales.
By now, it’s no surprise to anyone that we’re short on inventory and have been for some time. (And we aren’t alone: Nationally, the supply of homes that are for sale is at a nearly 20-year low, according to Realtor.com.) So with prices, for the most part, still on the rise, that translates into fewer sales. (There are a few notable exceptions, of course. More on that later…)

According to statistics gathered by MLSCO (the Multiple Listing Service for Central Oregon), much of Central Oregon – including Bend and Redmond’s Single Family Residential (SFR) and Residential With Acreage (RW) listings — saw sizable decreases in the number of sales for the first quarter of 2017.
(See several numbers-at-a-glance charts below that detail various aspects of the Bend, Sisters and Redmond markets.)

The most notable decrease in sales (a 37 percent decline) was among La Pine’s RW listing (down from 30 sales in first quarter 2016 to 19 sales in first quarter 2017) and Redmond’s RW listings (a 35 percent decline, from 26 to 17). Meanwhile, Bend saw a 26 percent decrease in the number of sales of homes on more than an acre (down from 65 to 48 sales), while Redmond saw a 15 percent decrease in the number of sales of homes on less than an acre (from 177 to 151 sales).

As for the exceptions: The number of sales of homes on less than an acre in Sisters increased a noteworthy 41 percent (up from 17 sales to 24), and Sisters RW listings saw a 9 percent increase (from 11 sales to 12).

Several markets south of Bend also saw increases: Three Rivers South saw a whopping 64 percent increase in the number of sales of homes on less than an acre (up from 14 to 23). Sales of La Pine’s SFR listings increased 10 percent (from 10 to 11). Finally, sales were up 5 percent for homes in Sunriver on less than an acre (up from 38 to 40).

Then There’s the Sales Price…

With only two exceptions, the average sales price in every market I track increased — most markets by double-digit amounts. Interestingly, the two segments that saw a decrease in sales price experienced the highest percentage increase in the number of sales: The average sales price for Sisters SFR listings ($346,604) decreased 9 percent since first quarter 2016 (while the number of sales was up 41 percent); and the average sales price for Three Rivers South SFR listings decreased 3 percent to $409,015, while the number of sales increased 64 percent.

Redmond saw the highest increase in sales price for first quarter 2017: The price of its RW listings increased by a sizable 32 percent (from $352,162 to $466,049), while the average price of its SFR sales was up 16 percent (from $254,801 to $294,415). The average sales price for Three Rivers South’s RW listings was up 23 percent (from $303,633 to $374,000), while the average price of Sunriver’s SFR sales was up 16 percent (from $449,126 to $519,819).

The increase in average sales price for Bend’s SFR and RW listings, and for Sisters RW listings was also in the double digits: Bend’s SFR listings rose 10 percent (from $398,191 to $437,291), while Bend’s RW listings increased 18 percent (from $596,494 to $701,258).
The average sales price for Sisters’ RW listings increased 21 percent, from $622,264 to $755,508 –- making it the highest priced segment of our market.

By the Numbers
For those who want to study the market by the numbers, the charts below detail the past five years’ activity of Bend, Sisters and Redmond (my primary coverage areas). I often represent buyers purchasing rural acreage — especially horse properties — so I regularly track both Single Family Residential (SFR) trends and Residential with Acreage (RW) trends.

In the charts, I focused on three of the main categories that reflect the state of the market: (1.) total number of homes sold; (2) Average sales amount; and (3.) Days on market. Checking out these charts will give you a quick overview of what’s been happening in the market.

*All listing information provided here is deemed reliable, but is not guaranteed and should be independently verified. The Multiple Listing Service of Central Oregon (MLSCO) does not verify the information provided and disclaims any responsibility or liability arising from any inaccuracy or inadequacy of said information or for typographical errors by MLSCO, or for any delay caused in dissemination of such information.

About the Author
Lisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and Redmond.

Phase II of ClearPine, Sisters’ newest subdivision, has begun. The 20-acre, 100-home project in northeast Sisters was conceived as sort of a scaled-down version of Bend’s uber-popular NorthWest Crossing neighborhood: Rather than feature a single builder, similarly sized homes and a handful of floor plans, ClearPine features high-quality construction in a mix of architectural styles as well as types of homes (including single-family homes, smaller “cottages” and townhomes).

With the announcement of Phase II of ClearPine, fourteen new lots are available. They range in size from 5,775 square feet to a roomy 8,261 square feet. Prices start from $99,000 for interior lots and cap out at $145,000 for the larger south-facing lots that back up to Trapper Point, providing some Cascade Mountain views, not to mention additional privacy. Completed homes start in the mid-$300,000’s for the cottages and range up into the mid-$400,000’s for homes.

 

For the project, developer Peter Hall has assembled a “Select Builders Guild” of recommended Central Oregon homebuilders. As of now, there are four approved home styles — Craftsman, Prairie, Mid-century Modern and American Foursquare -– plus three preferred builders and four preferred designers. Although folks who purchase lots aren’t required to use any of these vendors, all site development plans must adhere to ClearPine’s fairly extensive Design Guidelines and CCR’s and must receive written approval from the ClearPine Design Review Board and the City of Sisters Planning Department.

So far, ClearPine has received its share of accolades: During last summer’s COBA Tour of Homes, the ClearPine model home won four awards: “Best of Show-$400,000-$460,000,” “Best Architectural Design-$400,000-$460,000,” “Best Master Suite-$400,000-$460,000,” and “Green Builder of the Year-$499,000 and Under.”

Here are a few more photos that show the work in progress:

About the Author
Lisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and Redmond.

Here in Central Oregon, we’re used to visitors, and lots of them — especially during the prime vacationing months of May through September. Typically, we expect the largest crowds of the year (in the thousands) during Bend’s Summer Fest and Art in the High Desert, Sisters’ Quilt Show, Sisters Rodeo or the Deschutes County Fair in Redmond.

This year, though, it’s the third week in August that has captured the attention of the world. That’s when a once-in-a-lifetime solar eclipse will pass directly over Central Oregon on its way across the country.

So if you’re planning a house-hunting trip to Central Oregon this summer, Aug. 22 is a date you’ll want to be aware of. That’s when Crook and Jefferson counties are expecting throngs — anywhere from 50,000 to 100,000 visitors -– to venture here to witness the highly anticipated “Great American Eclipse of 2017.” No doubt, we’ll feel the repercussions of that event throughout Central Oregon.

What makes this eclipse so noteworthy? Most solar eclipses are of the partial variety, in which the moon appears to take a bite out of the sun’s disk. But this will be a total solar eclipse (TSE), which occurs when the moon, sun and Earth are perfectly aligned to allow the moon to cast a shadow on the Earth’s surface. Usually, much of the eclipse takes place over ocean territories; having a TSE that occurs over populated areas is quite rare. In fact, this will be the first TSE in the continental U.S. since 1979. Another thing that sets this eclipse apart: It will be visible from only one country: the United States. The last time that happened? When the country was founded in 1776.

What It All Means

On Monday, August 21, the Great American Eclipse will make a path from the West Coast of the United States to the East Coast and for about two minutes, locations along that path will be submerged in total darkness.

So why journey to Madras? Based on its location in the high desert of Central Oregon, the typical weather patterns and the area’s unobstructed views, Madras has been identified by many solar eclipse experts as one of the premier viewing locations in the country. Located at the center of what’s known as “the path of totality,” Madras will be engulfed in 2.02 minutes of total darkness. That means spectacular photographic opportunities for anyone in the area.

Perhaps the biggest eclipse-related draw to Madras is the four-day Oregon Solarfest, Aug 19-21. Held on the grounds of the Jefferson County Fairgrounds, it’s an official NASA Eclipse Viewing Site. In fact, NASA has agreed to partner with the event to provide solar scientists to answer questions, provide experiments and interact with the public (exactly how, I’m not sure). The weekend’s other offerings include live music, hot-air balloons, helicopter tours, an indoor kids’ arena with interactive games and a massive campground they’re calling “Solartown,” which has a ‘glamping’ option (tent and camping gear provided).

Another astronomy-focused event in Madras is the “Lowell Observatory Solar Eclipse Experience 2017.” For this gathering, astronomers from Flagstaff, Arizona’s renowned Lowell Observatory will host astronomer talks and solar experiments throughout the day at the Madras High School and Performing Arts Center and end the evening with a star party on the football field. They’re also hosting star parties and astronomer talks in the evenings of Aug. 20 in Madras and Aug. 22 in Bend.
Then there’s Solar Celebration, a five-day festival (Aug. 18-22) held on open farm land just outside Madras that has expansive Cascade Mountain views. Along with campsites, it’ll offer music, food and drinks.

Moonshadow Festival (Aug 18-22) is a solar eclipse-focused event on a 2,100-acre working cattle ranch between Prineville and Madras. This one is geared toward Western fans, offering event-goers an authentic ranch experience, farmers’ market, musical entertainment, food vendors and more. Four-night RV, trailer & tent camping reservations are available, as are single-day visitor passes.

And there are other eclipse-focused events, too. If you want to learn more about eclipse events in and around Madras (or want to book yourself a room/campsite), check out the City of Madras’ official Great Solar Eclipse website.

Meanwhile, at Big Summit Prairie

Without a doubt, the most unique (not to mention, most immense) eclipse-centric draw to Central Oregon is the seven-day “Symbiosis: Oregon Eclipse 2017” event (Aug. 17-23). Organized by Symbiosis Events LLC, the company that has produced huge music-, art- and sustainability-focused “gatherings” around the world since 2005, Symbiosis will feature live music on seven stages, plus art installations, spoken word performances, yoga workshops and more.

The folks at Symbiosis Events LLC spent five years searching for the ideal location to host their 2017 Eclipse event. What they found was a 55,000-acre private ranch and grassland area in the Ochoco National Forest’s Big Summit Prairie, owned by Crook County resident Craig Woodward. Tickets to the festival will provide access to a 200-acre section of the ranch that includes a 45-acre man-made lake designed for the event’s signature “art boats.”

This will be the largest organized event in Crook County history — and the largest event Symbiosis Events LLC has ever staged: They’re expecting some 30,000 attendees. Based on previous Symbiosis events, it promises to be unlike any event that Central Oregon has ever seen before.

About the Author
Lisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and Redmond.