Just Listed: Spacious Home with Pond Access in Stonehedge

 
 
 

Spacious 3 bedroom, 2.5 bathroom home with bonus room (possible 4th bedroom) on a .24 acre lot in the desirable Stonehedge on the Rim.

The community has 17 acres of open space to enjoy large pond, wildlife, & access thru secure gate to Dry Canyon Trail, paved, recreational nature trail & mountain bike trails. Home has new exterior paint and includes primary bedroom on the main floor with walk-in closet; double-vanity, jetted tub and shower. Relax in the living with the cozy gas fireplace with wood mantel & tiled hearth. Enjoy the air conditioning, central vac, lots of closets, additional storage room and workbench in garage, covered front porch and room for RV! Close to schools, shopping and restaurants!

Listed by Lisa McCarthy for West + Main Homes. Please contact Lisa for current pricing + availability.

 
 
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West + Main Homes
westandmain.co
hello@westandmainoregon.com

Presented by:
Lisa McCarthy
(541) 419-8639
lisam@westandmainoregon.com


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Central Oregon Real Estate Market Report from January 2022

Listing inventory remains at record low levels as prices increase across most of Central Oregon. Mortgage rates have remained flat for several weeks, but saw noticeable increases towards the end of last year and will likely resume.

Redmond median home prices reach the half-million mark for the first time ever as Bend area median home prices approach $700,000 to kick off the year where inventory of homes for sale are near the lowest levels ever. La Pine has a healthier number of listings + well above $400,000.

30-year mortgage rates are still hovering around 3.5% this week. According to Freddie Mac, “As economic recovery continues going into the spring and summer, mortgage rates are expected to resume their upward trajectory. In the meantime, recent data suggests that homebuyer demand continues to be elevated as supply remains low, driving higher home prices.”

Rising mortgage rates haven’t deterred buyers yet. “We’re seeing many new listings get dozens of showings and selling within the first few days on the market,” said Greg Fischer, Managing Partner at West + Main Homes Oregon. “There is a massive shortage of homes to pick from.”

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BEND AREA
$683,000
Median Price
9 Days on Market

REDMOND AREA
$500,000
Median Price
14 Days on Market

JEFFERSON COUNTY
$364,000
Median Price
37 Days on Market

LA PINE
$435,000
Median Price
82 Days on Market

SISTERS
$730,000
Median Price
3 Days on Market

CROOK COUNTY
$433,000
Median Price
27 Days on Market

 

Thank you to Beacon Appraisal Group for compiling this report. Prepared by Donnie Montagner with information from the MLS of Central Oregon with permission from COAR.

If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Just Listed: Beautiful La Pine Home that Backs to National Forest

 
 
 

Don't miss this beautiful home in Wild River Subdivision.

Sitting at the end of the cul-de-sac and backed by acres of National Forest Service land. This adorable neighborhood has walking paths and trails to the Big Deschutes River and Pringle Falls! As you walk in, you'll notice the Spacious open floor plan that is light and bright throughout the home. The home features a custom rock propane fireplace and a separate wood burning stove. This single-story, 3 bedroom, 2 bathroom with office lives large. Many upgrades throughout the home

Listed by Jenna Williamson for West + Main Homes. Please contact Jenna for current pricing + availability.

 
 
 

Have questions?
West + Main Homes
westandmain.co
hello@westandmainoregon.com

Presented by:
Jenna Williamson
(503) 307-4721
jennawilliamson@westandmainoregon.com


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Sunriver Brewing Co. preparing to open fourth pub, at Neff Place in NE Bend

 
 

Sunriver Brewing Company said Monday it will open its fourth pub at Neff Place in Bend. The “Eastside Pub,” which will occupy the former Jackson’s Corner space, is scheduled to open before summer.

The location at 1500 NE Neff Road sits across from the St. Charles hospital campus in Bend.

“We are looking forward to being part of another wonderful neighborhood” says Karin Devencenzi, CEO of Sunriver Brewing Company. “We are so grateful for our team and for everyone who has supported us over the last decade, especially the last two years. We’re really happy to put more of our energies into what we love doing…celebrating great beer and food with our community.”

The Eastside Pub is 4,000 square feet and will seat about 120 inside and another 40 outside on a dog friendly patio.

"We are focusing on a number of exciting new concepts " says Jay Junkin, owner of Jackson’s Corner.

"When Sunriver Brewing approached us about the space, we thought what a great opportunity to bring these visions to life. We are full of such gratitude to have been able to serve and connect with so many incredible beings!” said Junkin.

The pub will be pouring Sunriver Brewing core brands, along with many limited release and seasonal beers.

“I’ve spent the best 17 years of my life in Central Oregon, the majority of which I resided in the great neighborhoods of East Bend – lots of fond memories from homes in the Larkspur, Mountain View, and Orchard districts,” says Brett Thomas, Director of Brewing Operations.

“The entire Sunriver Brewing team is looking forward to sharing our culture of quality and bringing our award-winning craft beer to our new neighbors on the Eastside of town,” said Thomas.

about Sunriver Brewing Company – Sunriver Brewing Company’s pub in the Village at Sunriver opened to rave reviews in the summer of 2012. Recognizing that the original pub would not accommodate demand, a 13,000-square foot building was purchased in the Business Park in 2014. Since that time, Sunriver Brewing Company has garnered many national and international awards for their craft beer. In February of 2016, Sunriver opened its second pub location on Galveston Avenue in Bend Oregon. The year of 2017 included a major national accomplishment with winning Small Brewing Company of the Year at the Great American Beer Festival. In 2019, the Oakway Pub opened in Eugene, Oregon.

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2021 Price Surges Yield Record-Level Profits for Home Sellers, Report Says

 
 

It’s no secret that 2021 was a banner year for real estate sales, but a new report from ATTOM Data Solutions indicates that homeowners that were willing to sell last year reeled in a profit that hasn’t been seen in more than a decade.

ATTOM released its Year-End 2021 U.S. Home Sales Report on Jan. 27, which shows that home sellers realized a profit of $94,092 on the typical sale in 2021—up 45% from 2020 and up 71% from two years ago.

Based on median purchase and resale prices, experts said the profit increase marked the highest level in the United States since at least 2008.

Major takeaways

  • National median home prices rose 16.9% in 2021 to $301,000, causing profits to surge.

  • Profits margins rose in nearly 90% of the nation—150 of the 173 metro areas with sufficient data to analyze.

  • Homeownership tenure dipped to a nearly 10-year low of 6.14 years.

  • One of every three single-family house and condo sales in 2021 was an all-cash purchase—a six-year high.

  • Institutional investing accounted for one of every 14 single-family home and condo sales in 2021 in the U.S.—an eight-year high.

  • Federal Housing Administration sales hit their lowest levels in 14 years.

What this means

Frenzied market behavior filled headlines last year as pandemic-induced stimulus and historically low mortgage rates helped fuel demand for a finite number of homes for sale.

According to the report, a surge of buyers financially unscathed by the pandemic flooded the market throughout 2021. The intense competition for a tight supply of homes contributed to a price surge that proved to be a boon for sellers who were able to reel in nearly $95,000 in profit for their homes.

“What a year 2021 was for home sellers and the housing market all around the U.S.,” said Todd Teta, chief product officer at ATTOM, in a statement. “Prices went through the roof, kicking profits and profit margins up at a pace not seen for at least a decade. All that happened as the virus pandemic raged on, which actually helped drive the increases instead of stifling them. Households that escaped job losses from the pandemic dove into the market, in large part as a response to the crisis. And the rising demand led the market boom onward.”

While 2021 was a record-setting year for price gains and profit margins, ATTOM noted that there are signs that prices could flatten out in this year as declining affordability, lower investor profits, and rising foreclosure activity contributes to a market cooldown that began in the fall.

The report stated that that was layered over with rising inflation and likely increases in mortgage rates this year.

A silver lining is that the current imbalance in demand and supply suggests there is room for at least some additional price gains.

“No doubt, there are warning signs that the surge could slow down this year,” Teta said. “But 2021 will go down as one of the greatest years for sellers and one of the toughest for buyers.”

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