Check out this latest news! According to the Bratton report this month, median sales prices have increased approximately 4% annually since 1997 until now. Despite the ups and downs in the market over the past few years, the average median sales price has continued to rise. We are now looking at a healthy and growing market!
The city of Bend has a population of 80,000 and a grand total of 27,000 dogs. Almost half the amount of citizens! That’s just dog-tastic! Because of the love of dogs here, it’s only natural that Bend would have a plethora of pet-friendly activities. From the annual 4th of July Pet Parade to 10 different dog friendly breweries, including the newest brewery edition, Crux Fermentation Project. Crux is opening a dog park behind the brewery, so if you feel like getting a cold one, but don’t want to leave your pal behind, there’s a place for him to roam and for you to drink. In addition to the various establishments that allow dogs, you’re more than likely to find walkers, bikers and skaters accompanied by their four legged friends on the daily.
So if you’re a dog person and looking for a place that will not only acknowledge that, but EMBRACE IT, Bend is the place to be.
Find out more pooch friendly activities here.
To recognize this great news (that I’m pretty sure we knew without the title), here are a few pictures of some of the dogs in our lives:
Windermere’s commitment to serving our communities goes beyond providing the best in real estate services. Since 1989, through our Windermere Foundation, we’ve also reached out to help address the challenges faced by homeless and low-income families.
Windermere agents, owners and staff organize Foundation fundraisers and give through payroll deduction. Contributions are also made by salaried employees and managers, as well as by the public.
We are excited to share with you that the Windermere Foundation has received $521,000 in donations this year; this represents a 16 percent increase from this time last year! Thanks to our generous agents, brokers, staff, and owners, along with public donations, many low-income families have received the support they need to stay in their homes and meet their childrens’s most basic needs.
This year, on June 15th, Windermere Central Oregon Real Estate participated in our annual Community Service Day. The Bend and Redmond offices were closed to volunteer time. Bend employees painted the Bend Community Center and Redmond employees held a garage sale to benefit the Family Access Network.
Our monthly newsletter touches on the up-and-coming investment in rental properties. The demand for rental properties in Central Oregon has been booming, leading many people to ask the above question… is investing in rental properties the way to go? Read the article below for a breakdown of the risks, rewards and benefits of owning rental properties.
Investing in Rental Property:
The Risks, Rewards, and Benefits
of Owning Rental Property
All indications suggest that the rental market will continue to improve because of low vacancy rates and rising rents. In fact, the demand for rentals is predicted to far exceed supply through 2015, with some 4.5 million new renters expected to enter the market in the next five years.
One area of the real estate market that is thriving right now is rental property. In the first quarter of this year, landlords and property managers across the country have rented more apartments and homes than they have during the first quarters of the past ten years. The amount that renters are willing to pay has also jumped to a nationwide average of $991 per month.*
It just might be the right time for you to consider refinancing your home. If so we can refer lenders that might be the right fit for you. Let us know what you think! We would love to have you as a fan on Facebook!
Refinancing: What You Need to Know
Thanks to all-time-low interest rates, the number of homeowners refinancing their mortgages is at an all-time high. Of course, no one should refinance just because everyone else is doing it. But, for many homeowners, the benefits are simply too good to ignore any longer:
Save money each month. According to the latest figures from Freddie Mac (the country’s largest purchaser of home mortgages), the average homeowner who refinances is able to cut their monthly payment by $108 (or almost $1,300 per year) for a $200,000 loan.
Save even more in the long run. If you currently have a 30-year mortgage, refinancing with a 15 year version can save you thousands of dollars in interest over the life of the loan, plus allow you to build equity in your home faster than ever.
Cleme and Andrea attended this event hosted yesterday by City Club of Central Oregon. Very interesting information. Bill Wyatt was to be meeting with President Obama today as he was visiting Portland and the Intel campus. Especially fascinating was just how much is exported to China from Oregon!
Tapping into surging export opportunities to China and other emerging economic powers like India and Brazil may hold the greatest potential for rebuilding America’s sagging economy, especially in export-dependent states like Oregon, according to Bill Wyatt, executive director at the Port of Portland.
During a stop in Bend on Thursday, Wyatt told members of the City Club of Central Oregon that Oregon exported more than $4 billion in goods and services to China last year, surpassing Japan, Canada and Europe. But that’s a drop in the bucket compared to what Oregon could be exporting to China and emerging economic powers as the middle class grows and prospers in those nations, he said.
Instead of fearing China, Wyatt recommended making a greater effort to woo Chinese government officials, business leaders, tourists and potential homeowners to Oregon and, in particular, Central Oregon.
With the rise of the middle class in countries like China, India and Brazil, Wyatt said there’s a huge opportunity to expand exports of all kinds of products, ranging from cattle, hay, wheat and other agricultural commodities to lumber, high-tech components for computers, green-energy products such as solar panels and hydrogen fuel cells, unmanned aerial drones, pharmaceuticals and other products grown, designed or built by Bend-area companies.
“Agriculture’s best days are ahead for export markets,” Wyatt said.
He said Oregon’s secondary wood products manufacturers are currently importing large quantities of pine lumber from forest farms in Chile and New Zealand, but if Oregon can overcome severe timber harvest restrictions on federal lands, the state’s timber industry also could experience a major resurgence with growth in the middle class in China and other emerging economic powers.
This is one reason I am an avid supporter of Economic Development for Central Oregon. EDCO is a private non-profit organization dedicated to diversifying our regional economy by attracting new investment and jobs. They do this by recruiting new companies and by helping traded-sector firms already in Central Oregon expand. Check out the good work they do at www.edcoinfo.com and consider becoming a member.
EDCO and COVA working with United Airlines to expand air service options for our region
In an effort to continue to expand flight options in Central Oregon, EDCO is joining the Redmond Airport, Central Oregon Visitor’s Association (COVA) and Mead & Hunt to pitch United Airlines planners in Chicago later this month. The focus of the discussions will be to advocate for a second daily, year-round flight to Denver and improved timing for San Francisco flights. Recognizing how vital air service is to business in Central Oregon, EDCO, COVA, and Mead & Hunt have collaborated for nearly a decade to persuade airlines to upgrade equipment, add flights and locations into and out of Redmond. As we reported in the December eCon Update, it’s not an easy task in today’s environment to expand service in any small or mid-sized airports, as airlines focus on larger metros which offer higher operating margins.
Andrea and Patty are on the Membership committee for EDCO, a local organization lead by Roger Lee. (Economic Development for Central Oregon)
(EDCO) is a private non-profit organization dedicated to diversifying our regional economy by attracting new investment and jobs. They do this by recruiting new companies and by helping traded-sector firms already in Central Oregon expand.
EDCO relies on private funding and its membership to drive it’s goals and mission. The mission is to lead the region’s economic and business development through effective marketing, recruitment, retention/expansion, formation of public/private partnerships and fostering entrepreneurship and therefore a thriving job market.
EDCO is holding a Membership Event on September 29th with the details of that event attached. This is a great opportunity to learn more about EDCO and how it’s goals and mission help Central Oregon create new jobs, bring in new business that bring in new incremental dollars to our area.
You can RSVP for this event to Dayna@edcoinfo.com or call (541)388-3236.
For more information on EDCO, here’s a link to their website:
We hope to see you there!