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REAL ESTATE NEWS | AUG 2024

REAL ESTATE NEWS | AUG 2024

 
Sunrise at Cascade Lakes Highway (credit @jaydo_ventures)
 
This is an exciting month with fun concerts, hikes, water sports, and clear skies back so we can enjoy the last hurrahs of summer. But what I'm really excited about is the positive economic and real estate news (it seems I have a one-track mind with work). Read below for the Federal Reserve's anticipation action, the impact of NAR on our every day real estate practices, a beloved school in Bend, featured properties, articles & more. Reach out with any questions about the market, news, property values, predictions, and anything else. We'd love to hear from you.
Economic Momentum Powers Markets
(hanging on Powell's every word!)
Jerome Powell, Chair of the Federal Reserve, finally minced no words on Friday: "The time has come for policy to adjust." Phew! In sum, the Federal Reserve should begin cutting interest rates at its next meeting on 9/17. Why now? Our economy is getting stronger: last week, the S&P 500 recorded its best performance of the year, driven by strong economic data. Inflation is below 3% for the first time in three years, retail sales are robust & the labor market is considered strong. Mortgage rates are averaging around 6.5%, and there's optimism that they could drop twice by the end of the year, further stimulating economic activity​ - and home sales.
For more details : Market Business Insider , J.P. Morgan
Navigating the New Real Estate Rules:
NAR Settlement Impact
The recent NAR settlement has introduced some significant changes to real estate practices, effective 8/17. We're excited about these changes and have been preparing for them all year!
- Buyers agent commission (BAC) can no longer be stated in the MLS, but for our listings we ARE actively communicating this to buyers' agents and can advertise the BAC in our email campaigns, flyers, social media and elsewhere. We like this transparency up front and welcome the excuse for additional communication.
- Buyer Representation Agreements are required prior to all showings. This is great for sellers to know showings are serious and professionally represented, and also for buyers to know they have a mutual commitment with their agent for the time and energy to find and negotiate the very best home. We specify how we will write offers in advance so there will be no surprises as to whether the buyer is expected to pay additional compensation to their agent. Contact us so we can explain how we will negotiate on your behalf!
- A Seller's Contribution Addendum will be used with every offer to detail in writing what the Seller will pay in terms of BAC and any credits to Buyers. Again, no surprises.
 
We applaud these changes, which underscore the importance of working with knowledgeable agents - like your Avenir Realty team - who can navigate the evolving market dynamics and negotiate favorable terms for our clients.
Discover why our Amanda Wrenn loves
Waldorf School of Bend:
Where Education Meets Imagination
If you're considering a move to Bend, Oregon, the Waldorf School of Bend offers a compelling reason to make the leap. Known for its holistic and child-centered approach, the school blends academic excellence with creativity, fostering a nurturing environment where students thrive both intellectually and emotionally. With a curriculum that integrates arts, music, and outdoor education, Waldorf School of Bend encourages students to explore their full potential while developing a deep connection to the world around them. This unique teaching style not only prepares students for academic success but also cultivates well-rounded, compassionate individuals ready to contribute to their communities. Schools like this make Bend an ideal place for families seeking quality education and a vibrant lifestyle.
 
For more information, you can visit the school's website.
Property Spotlights
Contemporary Single Level in Tumalo
 
18243 Rock Springs Ct is nestled on 9.4 acres in tranquil West Tumalo. This contemporary 3,196 SF home with detached 376 SF studio incorporates biophilic design with sustainability and a connection to nature throughout the lush property. Enjoy 7.5 acres of Tumalo Irrigation water rights, ensuring vibrant wildflowers, healthy trees and wildlife in this beautiful setting.
Offered at $3,395,000
Luxury Estate with Shop & Guest House
 
Discover 21450 Dale Road, a luxurious 19.4-acre estate in Bend, OR. This stunning property features a 4,778 sq. ft. main house with 4 bedrooms and 3.5 bathrooms, showcasing vaulted ceilings, views, and expansive living spaces; a 3,300 SF shop with RV hookups and a 1,020 SF guest house. Enjoy huge Cascade Mountain views and the freedom of wide-open spaces, making this estate the perfect blend of luxury and privacy. Offered at $3,250,000
Neighborhood Spotlight
 
Located by one of the Seven Wonders of Oregon, Smith Rock, Ranch at the Canyons is a very unique, private community with luxury custom homes, equestrian center, clubhouse with gym, pool, and guest suites, plus trails and fishing along the Crooked River. With Tuscan-inspired architecture and sweeping views of Smith Rock and the Cascade Mountains, the Ranch is perfect for those seeking privacy and a connection to nature.
 
Visit our website to see more neighborhoods. What others would you like to see?
Share Your Central Oregon Story!
We love hearing from our community!
 
Share your stories, photos, experiences, and suggestions about living in Bend. Whether it's a favorite park, a local event, or a hidden gem - I'd love to cover it in the next newsletter.
 
You can also submit Zillow testimonial about working with me here: 5-Star Zillow Review!
Local News
Mortgage Rates Down a Full Percent from Recent High
If you’ve been waiting to make your move, the recent downward trend in mortgage rates may be enough to get you off the sidelines....
Best of Central Oregon 2024
 
Going for Gold with the titans of Central Oregon
The Increasing Complexity Of ‘Thru-Hiking’ The Pacific Crest Trail
As the severity of wildfires grow, is the dream of a continuous hike of the PCT lost?
15 Vertical Garden Ideas, From Living Walls to Botanical Libraries
Defy gravity with these space-saving and wellness-promoting gardening projects
DO YOU KNOW YOUR
HOME WORTH?
 
Stay Up to Date on Market Trends
ex: Bend's - or Seattle's - median list price is currently (find out here!)
 
Avenir Realty's Latest Real Estate Activity
LB: Laura Blossey, FW: Frank Wood
AC: Angie Cox, AW: Amanda Wrenn,
TE: Traci Engel HB: Heather Blaine
SS: Stephen Saunders.
 
LOOKING FOR YOUR NEXT HOME?
Customize your own search here:
Just Listed!
$3, 250,000 (LB)
Coming Soon!
Olivia Beach
in Lincoln City
(Avenir Realty is now a member of the Coastal MLS!)
Just Listed!
$3,395,000 (LB)
Just listed!
River front
$1,075,000 (HB)
Just listed!
SE Bend
$665,000 (LB)
Just listed!
Prineville on 2 acres
$665,000 (FW)
Active (LB)
$5,249,000
Active (LB)
$2,195,000
Price Reduced!
Active (LB & SS)
$1,800,000
Active (LB & TE)
$1,795,000
Active (LB)
$1,549,000
Active (LB)
$ 1,160,000
Active (LB & AC)
$725,000
Powers Rd
Active (SS)
$719,000
 
Active (AC)
$315,000
Active (SS)
$290,000
SOLD (AW)
$402,000
SOLD (AC)
$825,000
Pending (LB)
$1,299,000
Pending (FW)
$959,000
Pending (TE)
$479,000
Laura Blossey
Founder and Principal Broker
 
949-887-4377
Lic# 201204340
All information deemed reliable but not guaranteed. If your property is listed with a real estate broker, this is not a solicitation of brokerage services. Laura Blossey, License 201204340, Avenir Realty.
 
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Serving all of Central Oregon, we specialize in sellers and buyers looking to downsize for retirement, move into a larger home, or a home with closer proximity to trails, rivers, or local amenities.

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Avenir Realty

(949) 887-4377

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1051 NW Bond St., #410
Bend, OR 97703