Be aware that we are starting to see massive foreclosures, and the less established neighborhoods will be hit the hardest. Estimates are that 60% of owners who bought in 2006 are underwater and almost 50% of 2007 buyers. Neighborhoods that were mostly built after 2004 or 2005 are going to have a lot of distress in the year to come. One subdivision (Newport Gardens) near NW 14th and Newport has had 7 of 14 lots go into default by the people who own the houses - not a developer going under. Of the 14 lots, not all have houses on them. 5 of 6 of the houses that are built on Newport are in default or already bank owned.
In four of the last five months we have had more Notices of Default than sales in Deschutes County, and in December it was more than double. January's defaults are looking to be much higher than December's. With this in mind we will probably see greater price declines in Bend than we saw in 2008, which ended with medians down to $224.5k, down over 30% year over year. I am predicting sub $200k medians by March. We should see sub $170k by late fall, and $150k by spring 2010. Where it goes from there is going to depend on inflation.
It really is a great idea to have an agent take you around after getting to know what your criteria is so you can get a feel for all of the neighborhoods.
If you would like some help please feel free to contact me I enjoy helping people discover Bend and make the best real estate decision for their needs.
Susan Agli, Broker, SRES, ALHS
Coldwell Banker Morris Real Estate
Licensed in Oregon
Ths short answer is: Westside for cool, Eastside for economical. Bend rocks no matter what and you're never more than 15 minutes from a cool wine shop or a hardware store or a funky bike shop or a great breakfast cafe or Costco.
call 541-788-4317 Look forward to meeting with you
I just bought in Broken Top area on the West side. In between some great schools but most important to us was the proximity to recreation and downtown. Amazing access to walking trails and right out the door to the forest land.
Nice golf courses and lots of trees.
If you are not working with an agent and you would like my assistance in finding the perfect home then please let me know. I can email you listings which match your exact search criteria.
Selena McNeill, Broker
Century 21 Gold Country Realty
376 SW Bluff Drive, Suite 8
Bend, OR 97702
1-541-982-2243 Direct Fax
Licensed in the state of Oregon.
Everyone has their own opinion at what "best" might be. Bend offers many types of different and diverse neighborhoods. For example, last weekend I worked with a client moving to Bend from Memphis. I found with her, what I imagine might find with you. To her, our downtown was the perfect area because of the nightlife, activity, safety and charm. Being from Memphis, she said she never would have imagined that a downtown neighborhood could be so beautiful and safe!
For me, the key would be to find out from you what it important in the neighborhood you wish to live. Close to schools, shopping, hospitals and medical care or your new job!
Central Oregon living is about lifestyles, our outdoor recreation is beyond what most areas have or what some can imagine. Living in Central Oregon is like living where you would vacation.
Bend has grown quickly and has every type of housing available - you can still buy acreage or a city lot and even a home with a 0 lot line - townhomes and condos - so - what is the best seriously depends on what you are looking for in a neighborhood.