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Bend’s Home Buying Season Starts Earlier in 2020

The home buying season in Bend began earlier this year than in 2019. Bend ranks as one of the top 10 fastest growing cities in the U.S.

The spring buying season seems to have begun early this year, much different than in the beginning of 2019. Bend and Central Oregon experienced heavy snowfall in the first couple months of 2019, coupled with interest rates about a point higher than today’s rates, which made for a slow start to 2019. Once the snow thawed and interest rates lowered the Bend housing market heat up quickly and continued to be hot throughout the remainder of the year.

Buyer demand remains very strong in 2020, with multiple offers on well-priced homes. Bend ranks in the top 10 fastest growing cities in America and simply put, there are not enough homes to meet demand. Bend remains very affordable compared to many of the areas where our buyers are relocating from. The average residential sales price in Bend in 2019 was approximately $560,000. 

The challenge we face in 2020 is inventory. Housing is being developed in Bend but may not be enough to meet demand. Inventory levels continue to be under three months’ supply on average.

An interesting trend we have seen which has certainly affected the local real estate market is the ability to telecommute. Technology changes have allowed many people to live and raise their families in Bend and be employed elsewhere. This has brought higher incomes into the area making Bend much more affluent and, in our opinion, much less resistant to any recession which could influence housing.

So far in 2020 we are experiencing buying activity at springtime levels which can be frustrating for buyers competing for homes. Interest rates are at record low levels and coupled with low inventory means one thing, rising prices! 

Bend is a great market whether you are a buyer or seller. The community is growing tremendously offering opportunities for business, education and a lifestyle quality which is hard to match.

About Coldwell Banker Bain 

Coldwell Banker Bain is the #1 Coldwell Banker affiliate in the world with nearly $6 billion in volume in 2018, and has been helping people buy and sell homes in the Pacific Northwest since 1972. With 1,100+ brokers in 32 offices throughout Washington and Oregon, the company provides the full spectrum of services to buyers and sellers, with special expertise in the luxury realm.

Coldwell Banker Morris Real Estate has been recognized as a Chairman’s Circle Company for the past 22 years, an award given only to the top Coldwell Banker Companies in North America and has been consistently ranked the #1 Coldwell Banker office in Oregon.

Lori & Mike Dixon: Dedicated to Serving the Bend Community

We’re Lori and Mike Dixon. Our story is about service. Public Service, community service and now personal service.

Service through real estate.

We spent our careers serving the public as police officers and detectives. From patrol duties to training new recruits, tactical teams and major case investigators – we helped our community. Once we retired, we relocated to Bend to retreat, refresh and recreate. Bend is a haven for outdoor enthusiasts and community-oriented people – that’s why we moved here.

Becoming realtors didn’t happen overnight – we savored being young retirees!  Hiking, biking, paddling, eating, drinking and immersing in the music and culture of Central Oregon…well you know or you wouldn’t be considering moving to Bend! Initially, we had very part-time “retiree” jobs – Lori was teaching yoga and Mike was working on bicycles.

Our purpose began taking hold in the process of buying our own home.  We traveled with our dogs all over the U.S. (25+ states!) to see if there was another place we might want to live. There wasn’t…Bend won and still wins today. 

Our former homeowner experiences of 20+ years buying and selling property in another state had been stressful, disorganized and sometimes dishonest exercises. It always seemed like a lack of communication and accountability was the foundation for the challenges we encountered. Unfortunate, but true for us. When we moved to Bend, our perception of the industry was less than neutral.

We found that in Bend, the folks with whom we crossed paths in the real estate world were not only communicative and reliable, but also willing to serve us in our search and purchase of our home.

During that process, we found the appeal of being able to attend to a need with integrity, attention to detail and open communication – without going back to a law enforcement environment – perfect!

We’ve spent years seeking facts, listening closely, taking notes, researching and attending to every detail to help reach a desired outcome. Those skills are just as important now as they were then.

Our promise as realtors is to be there for you – before, during and after the purchase or sale of your home. Our guarantee as professionals is that you will never have to wonder what’s happening with your transaction. Our assurance is that there will never be pressure from us, only information to make educated decisions.

This is our story. We know what it’s like to relocate, to buy or sell a home, to need information, to want security and to find a reliable professional to help with the decision-making process. All that is to say, “We get it.” We also love Bend. We chose to live here over any other place in the world and we like that we’re a part of what makes Bend such a great place with caring, community-oriented people.

We’re a team, as we’ve been for many decades and we’re beyond happy to have a second chance at service, through real estate, for you.

Bend’s Love Affair with AirBnb

Renters and travelers in Bend are big fans of using Airbnb. In fact, if you look up the cities in the United States with the most Airbnb rentals per capita, Bend scores an amazing number 4 on the list, and it’s the only city on the West Coast to actually make the top ten, in data collected at the end of 2019!

So, Airbnb rentals are a popular option around town – but does that mean you should choose Airbnb in Bend? Yes, you can find more listings per capita here than many places, and gain access to some beautiful lodgings, but when is that worthwhile? Let’s take a closer look.

Airbnb in Bend: Pros

There are a lot of incredible options: Whether you want a spacious living area, extra-comfy bedroom, or stunning view of the mountains, Bend’s Airbnb options can get you what you want (and average a 4.9 out of 5 stars for reviews, too). This is a great way to explore what Bend has to offer, get a taste for specific features/destinations up close, or shop around different parts of the city when you are looking for the best places to live. Hey, even if you’ve bought a home already, browsing the Airbnb listings is a great way to get some new décor ideas!

Affordable prices: For short term stays, Airbnb in Bend is quite affordable. Prices tend to range from $50 to $90 per night for all kinds of accommodations for couples. Bringing kids will cost more, but prices are still manageable. Everywhere except the distant cabins is certain to offer Wi-Fi for free, too.

It’s a handy stop before a full move-in: If you’re planning on moving to Bend, there are often situations where you need to stay in the city for a few days here and there during preparation, before your move is fully completed. Airbnb is an ideal solution for many of these situations.

Airbnb in Bend: Cons

Professional services and privacy are harder to obtain: Airbnb hosts can be very welcoming, but they don’t exactly offer the same hospitality services that professional landlords and property management companies can provide their renters, so you have to take what you can get. The same is true of privacy – “private entry” Airbnb dwellings are always in high demand and may be difficult to find in a pinch, whereas it’s always guaranteed in a professional rental.

Not every rental is suited to the climate: While Airbnbs may sport wood stoves and advertise heating/cooling, that doesn’t mean every system is up to the hot summers and cold winters here, especially if there’s poor insulation. This is one of the things that’s also difficult to test beforehand.

Airbnb isn’t the best option for extended stays: Most rentals here are designed to be used for several days or a week or so. Long-term Airbnb rentals can be much harder to find, and there are no bonuses for an extended contract.

Conclusion on Choosing Bend Airbnb Options

If you want to check out what specific areas of Bend have to offer or check in to make some important preparations ahead of a full move-in, Airbnb has some excellent options for you. For more extended stays or more reliable renting possibilities, it may be best to go through a local property management company.

 

Meet Andee Jessee of A Superior Property Management Company

Meet Andee Jessee, who was born and raised in Central Oregon. She started her working career at age 7, cashiering at her family business, Natures General Store, a busy little health food store in midtown Bend. Before she learned the register, she would make arts and crafts and sell them to customers. She was born an entrepreneur.

Andee graduated from Bend High School and went on to COCC to get a business degree specializing in hospitality and tourism. She didn’t know exactly what she wanted to do with her career, but she knew she wanted to be self employed. During college, she took a little break and lived in the Caribbean. It was during that time that her now late father
happened to share an article forecasting the top 50 industries that would grow over the next 10 years. Property management was an industry on that list. She decided to get her feet wet with a local property management company and
decided it was the thing for her. In the time working for another company, she noticed there was a definite need for a more specialized type of residential property management. She strived to go above and beyond what local companies offered.

In 2007, Andee started A Superior Property Management Company  (ASPMC) with only one property under management, a cute downtown Bend bungalow. She quickly learned that the extras she offered like frequent inspections, heavy advertising and excellent customer service was exactly what people wanted. Her goal was to not only have a
successful business but to do it with integrity. She started soliciting local realtors and called every “for rent by owner” that she could find. Andee convinced many homeowners to give her a try and within two years had expanded her portfolio quite substantially. As Central Oregon continued to grow, so did the need for quality property management. Keeping up the high level of service as she grew her business was tricky and she knew if she wanted to do it successfully, she would have to add staff even if there wasn’t money to pay herself.

Her ideas worked and she now has a dedicated staff who share her vision and have helped her to achieve her business goals. With responsible growth ASPMC now manages approximately 500 doors.

Success to Andee is not about money and possessions. It includes living a happy, healthy life, treating others with patience and kindness, and being fair and honest while running a thriving business. Outside of her office family, Andee is blessed with three wonderful sons – one very sweet 10-year-old and rambunctious five-year-old twins who keep her busy. They love to explore together and enjoy all that Bend and Central Oregon have to offer. When she isn’t working, she enjoys traveling, camping, hiking and exploring.