REAL ESTATE NEWS | SEP 2024

Newsletters

REAL ESTATE NEWS | SEP 2024

Neighborhood park and winding river beneath a mountain, with autumn trees and homes along the banks.

 
Avenir Realty Group
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Autumn foliage frames a reflective lake, with a mountain ridge beyond the trees.
Drake Park
 
It was as exciting as it gets this month if you're into economic news - and yes I am! Positive news about the Fed's rate cut, inflation, the stock market, and mortgage rates have definitely filtered from headlines to home buyers. One buyer just told me he's been poking around open houses for a year and is finally ready to buy now that rates are better. There are currently 290 pending residential sales in Bend, Sisters and Redmond and I expect this number to increase soon. Read below for the difference between the Fed rate cut and mortgage interest rates, lack of seasonality on home inventory this year, the Bend Film Festival and property & neighborhood spotlights. My favorite article topic is locals aiming to buy Mt. Bachelor. What?!
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
FED Rate Cut and Mortgage Rates
Suburban homes beneath a neoclassical government building topped with an eagle statue.
Interest rates have been a hot topic, and many people mistakenly believe the Fed recently dropped all rates by half a percent, but that’s not exactly true. Mortgage rates, which are tied to the bond market, have been trending down since the Fed announced rate cuts back on July 30th. Although the Fed cut rates by 50 basis points, mortgage rates had already dropped nearly 1% since then, falling from 7% to the low sixes. While last week's Fed decision was already priced in, further gradual rate decreases are expected, making homeownership more affordable.
 
The key takeaway is that rates will continue to decline slowly over the next few years, but with ebbs and flows. This is great news for both prospective buyers and those looking to refinance, as housing affordability is likely to improve in 2024.
 
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Inventory: Lack of Seasonality
Inventory has risen through September rather than the typical peak in July at all price quadrants. Days on Market (DOM) ranges from 58 - 98 days based on the market segment. One new measuring stick for inventory is from talking to my "For Sale" sign maker and installer, who both say orders are up because signs are staying on properties longer. Interesting. Stay tuned next month to see if buyers are responding to lower rates by making offers... and then we can finally take those signs down!
 
For more current data, click here:
Real estate inventory chart: four 90-day series dip in spring 2024, then climb to around 180 by September.
 
Table comparing four real estate market segments by price, property size, features, new listings, sales absorbed, and days on market.
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Community Connection:
Bend Film Festival Oct 10-13
Bend Film Festival, October 10–13, 2024
As a proud member of the BendFilm Board of Directors, I’m excited to share some highlights about the 21st Annual Bend Film Festival, October 10-13, 2024!
 
Fun Fact: this is an OSCAR qualifying festival for the Academy Awards
 
Bend Film Festival 2024 promises to be bigger than ever, with more films, talented filmmakers, and special honorees. This year, we’re celebrating Indie Filmmaker of the Year and honoring the work of Indigenous creators who continue to inspire with their unique stories.
 
Why Attend?
  • Explore Over 110 Films: From groundbreaking documentaries to narrative gems. I've seen the trailers and can't wait to see them!
  • Support Indie Filmmakers: Discover and celebrate fresh voices and perspectives that might just shape the future of film.
  • Experience the Community: Engage with filmmakers at panel discussions & events, watch Pacific Northwest films, and dive into the vibrant culture of Bend.
 
BUY PASSES & TICKETS NOW. See more details at BendFilm's website. See you there!
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Property Spotlights
White coastal house with two glass-railed decks and a blue umbrella, overlooking the ocean.
 
Discover the charm of this newly completed Olivia Beach home, offering stunning ocean views, a rooftop deck with a hot tub, and high-end finishes. Perfect for family getaways or as an investment property in Lincoln City's most desirable community. Whether you’re enjoying the fireplace in the primary suite or lounging in the hot tub under the stars, this home is a coastal dream come true!
Offered at $1,195,000
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Neighborhood Spotlight
 
Looking for a perfect blend of rural charm and modern conveniences? Welcome to Tumalo, a peaceful escape on the NW side of Bend that offers breathtaking mountain views, lush fields & farmlands, and quick access to Bend's bustling urban life. Whether you're an outdoor enthusiast, equestrian lover, or just someone craving a bit of space, Tumalo is a haven for those seeking the best of both worlds.
 
Visit our website to see more neighborhoods. What others would you like to see?
Brown horse by a pasture fence, with evergreen trees and snow-capped mountains in the distance.
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Share Your Central Oregon Story!
Avenir Realty testimonial from A.C. praising Laura Blossey’s help buying a home from out of state.
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!
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Local News
2025 Housing Market Forecasts: What to Expect
Magnifying glass enlarges a blue model house among pale miniature houses.
Looking ahead to 2025, it's important to know what experts are projecting for the housing market...
Discover Fall's Magic
Woman and three boys examine a small plant together in a sunlit, leafy outdoor setting.
Deschutes Land Trust hosts "Kids Falling for Nature" outdoor experience. Families are invited to experience the beauty of fall together…
New website, fundraising campaign for community effort to buy Mt. Bachelor
Mt. Bachelor welcome sign beside a road, with a snow-dusted mountain in the background.
After just a few days of public crowdfunding, the group seeking to purchase Mt. Bachelor ski area from corporate ownership raised more than half its funding goal to cover administrative costs.
This Unexpected Trick Will Make Your Small Living Room Look Bigger
Living room with botanical gallery wall, low TV console, paper pendant light, and patterned rug.
It involves sizing up just one item. READ MORE...
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Avenir Realty flyer offering a home valuation, with a modern house, QR code, website, and phone number.
DO YOU KNOW YOUR
HOME WORTH?
 
Avenir Realty graphic promoting a real estate research subscription with homes, listings, coin stacks, and a market chart.
Stay Up to Date on Market Trends
ex: Bend's - or Seattle's - median list price is currently (find out here!)
 
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Avenir Realty
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:
House with a stone arched entry, double garage, and landscaped lawn framed by mature trees.
Just Listed!
$895,000 (AW & AC)
Two-story green house with a red front door, stone porch pillars, and a curved walkway through the lawn.
Just Listed!
$655,000 (LB)
Large tiled-roof home among desert landscaping, with rocky mountains in the background.
Active (LB)
$5,249,000
Modern single-story home with glowing windows, a flower garden, and trees at sunset.
Tumalo Tranquility
Active (LB)
$3,395,000
Modern gray home with a timber-framed entrance, stone facade, and colorful landscaped garden.
Active (LB)
$3, 250,000
A-frame home glowing at dusk among evergreens, with a balcony and curved driveway.
Price Reduced!
Active (LB)
$2,190,000
Cabin among dense trees beneath a rugged mountain ridge.
Active (LB & TE)
$1,795,000
Aerial view of a gray home with elevated decks, a stone patio, and a wooded yard.
Price Reduced!
Active (LB & SS)
$1,667,000
House icon
SW Bend
Coming Soon (LB)
$645,000
Single-story home with a stone facade and desert landscaping along the walkway to its wooden front door.
Active (LB)
$ 1,160,000
Aerial view of a single-story house with a gray roof, tree-lined yard, and furnished deck.
River Meadows
Active (LB & AC)
$725,000
Shaded backyard patio with a picnic table, sliding glass door, and two grills.
Powers Rd
Active (SS)
$719,000
Suburban house with a white double garage door, broad driveway, landscaped lawn, and mature evergreen trees.
Larkspur Location
Active (LB)
$635,000
 
Two-story blue-gray house with stone veneer, an attached garage, and a covered porch with wooden chairs.
Price Reduced!
Active (AC)
$350,000
Rural neighborhood marked by a red location pin, with open fields and snow-capped mountains beyond.
Active (SS)
$290,000
Two-story tan home with a covered porch, stone landscaping, and mature trees.
SOLD (LB)
$1,299,000
Home's covered front porch with brick steps, a wood ceiling, and a decorative entry door.
SOLD (FW)
$959,000
A forest home with a driveway near a winding lake, surrounded by evergreen trees.
Pending (HB)
$1,075,000
Single-story home with an attached garage and broad driveway in a wooded rural setting.
Pending (FW)
$665,000
Gray single-story house with a two-car garage and wide driveway beneath mature trees.
Pending (TE)
$479,000
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Real estate agent in a black sleeveless blouse beside a wooden staircase.
Laura Blossey
Founder and Principal Broker
 
949-887-4377
Lic# 201204340
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
Open-plan office with green desk dividers, white workstations, and large city-facing windows.
FacebookTwitterLinkedInInstagramYouTube
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. LauraBlossey, License 201204340, Avenir Realty.
 
This email was sent to • View Online • Unsubscribe • Powered by ActivePipe
Equal Housing Opportunity
Home

ActivePipe Message ID: 2591004

Work With Us

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.

Contact Us
Get in Touch
Contact Details

Avenir Realty

(541) 595-8707

[email protected]

 

 



473 W. Hood Ave #102,
Sisters, OR 97759