Market Conditions in Bend>Question Details

Ken, Home Buyer in Lawrenceville, GA

What about trends/prices/projections for horse property surrounding the Bend area? Particularly property

Asked by Ken, Lawrenceville, GA Fri Apr 17, 2009

with some pasture irrigation potential, reasonably close to Bend.

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Prices are down significantly without doubt. We will se more price declines in our future or at least a good supply of available properties. Many of the big horse properties were amongst the last to see the foreclosure tidal wave. Irrigation rights definitely add value as do the improvements such as arenas, barns, etc. but only to those that demand it.

Price points are attracting ot of town/state buyers but our economy (or lack thereof) has been backed by tourism and sevices for many years - both low paying. Without a real economy, expect near term improvements to be just temporary.

Try this tool for finding properties and tracking trends:
0 votes Thank Flag Link Sun Apr 25, 2010
Bend is making a come back. It is slow but you can see that the market is at the bottom. Buyers are coming in. It does not matter if this is land, homes, condos, farms etc... it all fell and it is all going to come back. Farms and Ranches are always in shortage and Oregon's zoning is so tough that much of our land here is not buildable. This has not changed.

Get in the Game Ken. This is the time to be in the market.

That is my advice.

Best wishes;

Dirk Knudsen
Re/Max Hall of Fame
503-799-8383
Web Reference: http://www.theknudsens.com
1 vote Thank Flag Link Fri Apr 17, 2009
Bare land horse property in Bend, Tumalo and Alfalfa is not moving much. In the last year only one property sold that was more than 20 acres. That property was 265 acres and was on the market for over 800 days. The other bare land properties (4) which the MLS has records as sold after an average of 500 days on the market . Right now there are approximately 26 bare horse land properties on market. From the information I can gather it looks like the market hasn't changed much in the last 2 years with few sales. I would say if someone is in the market for horse property specifically in the Bend area you have quite a few choices and several different negotiating opportunities. If you are thinking of selling horse property I would interview several brokers and select someone with a good business/marketing plan to sell your property. And I would have my broker show me properties currently on the market to actually see what your competition looks like.
Susan Agli, Broker, SRES, ALHS
Coldwell Banker Morris Real Estate
Licensed in the State of Oregon
Serious About Real Estate. Serious About You.
0 votes Thank Flag Link Tue May 17, 2011
Ken,

I have to agree with Rick. I've been working with a couple for over a year now that wants about 20 acres with irrigation and a Cascade view close to Bend. We've seen a lot of great properties but my clients perceive the prices to be really high compared to what they're hearing about the rest of the market. They're reluctant to make an offer because they keep thinking prices will come down but in the year we've been working together, they haven't come down much. I must say though, with very few acreage properties selling and lots of them on the market, prices will have to come down a bit more to really entice buyers to pull the trigger. I think the high prices are also partly because there haven't been many sales so list prices are arbitrary in some areas.
0 votes Thank Flag Link Mon Sep 21, 2009
Hi Ken,

If there is one market that weathers the real estate rollercoaster the best here in Central Oregon it is horse/animal properties. The true developed horse properties, not the 8 fenced acres with a loafing shed. Properties with a solid amount of irrigation, 50% or more of the total acreage, seem to still maintain value. The value of the irrigation rights alone have soared while land values have fallen. Water rights are like gold and will only continue to increase in value. Right now has been the best time to secure horse property, in my opinion, because it is at the lowest it will be. I have seen some high end horse setups fall as much as 50%. There have been some 10 acre parcels with a very nice home, barns, hay storage, tackrooms, cross-fenced, pond, and mountain views sell for $400K-$600K. If you ever want a list of current and sold listings emailed to you so you can analyze the data yourself, just send me an email. I will be happy to send you a reverse CMA to help you see what the market is doing. oregonhomes@hotmail.com or 541-419-3999.
0 votes Thank Flag Link Fri Apr 17, 2009
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