Author: Fernando Gottlieb

Real estate in Bend, Oregon, has been experiencing a boom, and this calls for sellers to be agile and adaptive in their strategies. 

A significant aspect of selling a property efficiently is understanding the intricacies of various selling processes. 

Photo by Kenny Eliason on Unsplash

Cash home sales, in particular, offer a streamlining opportunity. In this dive into the real estate scene of Bend, we shall unearth the facets of selling a home, focusing particularly on cash sales, and other essential elements.

Navigating Through The Intricacies Of Selling Your House In Bend

The process of selling a house is often cumbersome. However, being aware of the local market trends, legal requirements, and the available selling options can simplify the process.

The Expediency Of Selling Your House For Cash

The traditional route of selling a home involves listing it, waiting for a buyer, and often going through a lengthy loan approval process. 

However, cash sales in Bend have emerged as a practical alternative. Selling your house for cash means that you sell it to a buyer who pays the full amount upfront, without the need for a mortgage loan.

One of the primary benefits of this approach is the speed at which the sale is completed. Without the need for loan approval, the sales can close in as little as a week. This is particularly advantageous if you are in a hurry to relocate or need to free up capital for other investments. 

Cash sales often reduce the amount of paperwork involved and lower the chances of the deal falling through at the last minute. 

It also saves you from extensive home repairs that may be required by traditional buyers.

However, it’s crucial to note that selling for cash might sometimes mean accepting a lower offer than what might be achieved through the traditional sales process. 

It’s vital to weigh the benefits against the potential drawbacks to make an informed decision.

Understanding The Legalities And Compliance

Before you sell your property in Bend, it is essential to be acquainted with the legal requirements. 

This includes understanding the state laws regarding property sales, ensuring that you are compliant with all the zoning regulations, and being aware of any tax implications that might arise from the sale.

Having a good real estate attorney can be invaluable in this regard. They can help ensure that all the paperwork is in order, guide you through the closing process, and help you avoid any legal pitfalls that could delay the sale or result in financial losses. 

Ensuring compliance with the legal requirements not only safeguards you against potential legal issues but also adds credibility to the sale, which can be appealing to buyers.

Optimizing Property Presentation And Marketing

First impressions matter. To ensure that your property is appealing to potential buyers, it’s crucial to present it in the best light possible. 

This may involve minor renovations, decluttering, and staging the property professionally.

Understanding the market trends in Bend will allow you to price your property competitively. Employing a multi-pronged marketing strategy can also increase the visibility of your property. 

Utilizing online platforms, engaging with local real estate agencies, and even word-of-mouth are effective ways to reach a broader audience. Remember, the more potential buyers you reach, the higher the chances of selling your property promptly and at a desirable price.

Evaluating And Understanding Market Trends In Bend

Bend has a dynamic real estate market. Staying informed about the current trends can be critical in positioning your property for a successful sale.

Monitoring Real Estate Prices And Demand

Understanding the current property prices and demand in Bend is essential for setting a realistic and competitive asking price. 

Keeping an eye on the average selling prices, how long properties are staying on the market, and any seasonal variations can give you insights into the best time to sell.

Assessing The Impact Of Economic Factors

The broader economic climate can significantly impact the real estate market. Factors such as employment rates, interest rates, and economic growth or recession can influence buyer behavior. 

For instance, when the economy is booming and employment rates are high, there might be an increased demand for houses as more people can afford to buy.

The Influence Of External Investments And Developments

External investments and developments in and around Bend can have a considerable impact on property values. 

For instance, the construction of new schools, hospitals, or shopping centers can make the area more appealing to potential buyers. 

Keeping tabs on any upcoming developments can help you strategically time your sale to maximize profits.

Closing The Deal And Future Considerations

Finalizing the sale of your property is not the end. There are steps that should be taken after the sale to ensure that all loose ends are tied up.

Post-Sale Financial Management

After a property sale, especially if it is a cash sale, you might find yourself with a significant amount of money. 

It’s essential to have a plan for managing these funds. Whether it be reinvesting into another property, saving, or investing in other ventures, careful financial planning is key.

Document Safeguarding And Reporting

It’s critical to keep all the documentation related to the sale safe. This includes the sales agreement, disclosure forms, and any other legal paperwork. 

These documents may be required for future reference, especially for tax purposes.

Reflecting On The Sales Process

Once the sale is completed, take some time to reflect on the sales process. What went well? What could have been done better? This reflection is not only helpful for personal growth but can be invaluable if you plan to engage in future real estate transactions. 

By learning from the experiences of the sale, you will be better prepared for future real estate endeavors.

Final Thoughts

In conclusion, selling a property in Bend, especially for cash, can be a streamlined and efficient process when armed with the right knowledge and strategies. 

Understanding the intricacies of the selling process, keeping abreast with the market trends, and ensuring proper post-sale procedures are key to a successful and profitable property sale.

Welcome to Bend Relocation Services! Our expert team is dedicated to helping you relocate or buy a home in Bend with ease and style. From personalized home searches to seamless moving assistance, we handle all your needs so you can enjoy a smooth transition to your new life in this beautiful city.

With the latest census numbers out from 2019, it’s no surprise that Bend’s population is higher than ever and that the city had an excellent decade of growth, with an estimated 31% increase in population within the last 10 years and around 3% growth last year alone. That’s why Bend continues to make it into the lists of the most popular cities for relocation in the United States. 

Despite the tumult of 2020, we’re still seeing a steady influx of visitors and relocators moving to Bend from other regions – and here’s why that’s important. 

1. Bend Businesses Continue to Thrive from New Customers

More people relocating to Bend for work or family reasons means more opportunities for local businesses to win new customers. Bend brands have long thrived on creating long-term loyalty with a combination of quality and embracing the innate upbeat friendliness of the region. Relocators are a valuable source of new revenue, new ideas – and in some cases, new business partners to create synergy with. 

Once these loyal customers are created, they are also more likely to tell their out-of-town friends and family about the businesses they like most or show off products that they got. This increases brand reach and is a valuable type of ambassadorship. 

2. Bend Still Thrives Even Under Pandemic Conditions

There’s another important reason moving to Bend has remained a popular option in 2020: COVID-19 has not treated many larger cities well, but Bend has several strengths that have enabled it to avoid these problems and continue to be a destination for those looking to find a new job. 

First, the city’s focus on the outdoors is particularly timely while social distancing regulations continue. It’s a lot easier and safe to plan an afternoon of open-air mountain climbing with close friends or family rather than heading to a more crowded location where chances of infection are higher. These outdoor options may not be available in larger urban areas without significant travel. Many outdoor activities in Bend also allow for easy social distancing or solo ventures, from kayaking to fishing or desert hiking. 

Second, businesses in Bend have been in some ways more fortunate that the companies in many other cities. Outdoor companies can continue to focus on Bend’s summer and winter activities without worrying too much about these activities being curtailed (and in some cases, the extra time lockdown has created has actually been a boon). The great summer weather has also meant that businesses can utilize their outdoor areas to the greatest extent possible to ensure customers stay safe while still visiting – there’s a reason food trucks have been so popular this year!

3. Bend Continues to Manage Its Development

When small cities see lots of growth over a short period of time, they can sometimes struggle to match that growth with the proper planning and development. Fortunately, Bend has shown the ability to create proper plans and room for development in accordance with needs changing over time. Rezoning locations, adding another school district, and similar changes are slowly but surely preparing the city for its new residents. 

Remember, if you want to relocate to Bend or learn more about the process, we are here to help with the latest information and services!

You don’t have to look far for stories on how young people are willing to live on a sailboat rather than in an apartment if it means affording top-dollar cities like San Francisco. These stories suggest millennials are willing to live in minivans, under someone’s staircase, or even wooden crates if it means achieving urban nirvana.But do they? While it’s true millennials are moving in droves across the U.S., they may be targeting different cities than you think. To take a closer look at their most recent migration patterns, we used 2016 census data to explore the cities and states with the youngest new residents, where millennials make up the largest populations, and the cities turning into hot spots for international audiences. Check out the latest trends below.

Most youthful residents in America

Millennials may not be moving as often as the generations before them, but when it comes to finding the right work opportunities, they’re more than willing to pack up their desks for a change of scenery. One study found 85 percent of millennials were willing to relocate for a job, and 82 percent thought being flexible with where they lived was a necessity if they wanted to be successful. Thankfully, that doesn’t always mean they have to be willing to relocate to some of America’s most expensive states. New residents moving from out of state into North Dakota had the youngest median age on average: just over 23 years old. North Dakota is one of the best states for businesses, so its strong economic climate could be a part of the draw for millennials. Colorado, Iowa, Kentucky, and Nebraska also had the youngest median age range of new residents moving from out of state. And even if they aren’t quite there yet, some states are starting to trend younger compared to years past. The median age of people relocating to Louisiana was nearly 28 years old in 2016, a more than 20-month decrease from the year prior. Nebraska, Illinois, and Washington also trended younger with their newest residents.

Both ends of the age spectrum

In years past, millennials may have wanted the true “big city” experience until they realized how much it was going to cost. Now, the urban vibe is available in many more states, and businesses not being open around the clock may no longer be a drag for young people looking to relocate. Charlotte, North Carolina; Minneapolis, Minnesota; and Nashville, Tennessee – sometimes referred to as “18-hour cities”are just a few places where millennials are finding the city atmosphere (and job opportunities) they want at prices they can afford. In 2016, it was cities including Greensboro, North Carolina; Saint Paul, Minnesota; Milwaukee, Wisconsin; and Detroit, Michigan, that had the youngest new residents ranging from 23 to 24 years old. Cities like Greensboro are known for their metropolitan energy and thriving communities – and a below-average cost of living. Other cities could be experiencing the opposite effect though. Stockton, California; Newark, New Jersey; and St. Petersburg, Florida, had the oldest new residents, ranging from 34 to 38 years old on average.

States appealing to millennials on the move

Despite skyrocketing costs of living and occasionally overcrowded living conditions, states like California, Michigan, and New York are still popular destinations for millennials on the move. But one state managed to beat them all for the highest percentage of millennial newcomers in 2016: Minnesota. It might get more than a little cold in this Midwest region, but Minnesota’s position as one of the best states in America for quality of life, a booming economic climate, and a strong metropolitan scene made it the premier destination for millennials in 2016. Louisiana, Wisconsin, and Ohio also ranked among the most popular states for millennials recently willing to relocate.

A different type of city life

The go-to cities and states for millennials looking for job opportunities, community atmosphere, and even the scenic outdoors aren’t exclusive to a select number of overpriced locations. In reality, every corner of the country has its own pockets of younger residents who’ve helped imbue the best parts of urban life. Places like Sunnyvale, California (home to tech giants like Google and Facebook), still accounted for a vast majority of millennial relocations on the West Coast, but in the South, it’s a different situation. More than 70 percent of newcomers to Arlington, Virginia, were millennials in 2016, followed by nearly 65 percent in Newport News, Virginia, and over 61 percent in Norfolk. Virginia offers new residents plenty of opportunity for booming locals due to its quality of life and positive business growth. New Haven, Connecticut, saw more millennial movement than Boston or Jersey City, and Madison, Wisconsin, proved more popular than Minneapolis, Cincinnati, or Chicago.

Importing Talent

If there’s one industry that’s had a profound impact on migration patterns it’s technology. While the cities and states enjoying a positive influx of residents and employees have continued to expand, even immigration into the U.S. is owed in a large part to the availability of tech jobs in popular regions. Millennials coming from outside the U.S. were more likely to land in Berkeley, California, than any other city in 2016. Berkeley ”home to the University of California” is just steps away from Silicon Valley. Nearly 74 percent of new international residents moving to Berkeley were millennials. Tempe, Arizona; Omaha, Nebraska; and Durham, North Carolina, saw similar migration patterns from millennials in 2016.

Settling in, not settling down

Millennials may not be moving as often as generations before them, but they know having the best job opportunities can mean being willing to relocate – sometimes thousands of miles away. Instead of flocking to major metropolitan areas where the cost of living has exploded, though, young people are finding their urban communities in new and surprising locations.

Methodology

To compile the data used in this article, we looked at the U.S. Census Bureau’s 2016 population estimates. We calculated the percentage of new millennial residents by finding out the numbers of 20- to 34-year-olds relative to the entire population that moved from out of state. We considered only people who moved from out of state, exclusive of those abroad, unless otherwise noted.

Sources

• http://time.com/money/4669294/millennials-moving-housing-marriage-family/
• https://www.forbes.com/places/nd/
• http://www.businessinsider.com/affordable-cities-for-new-grads-to-start-their-careers-2016-5#-2
• https://www.forbes.com/places/nc/greensboro/
• https://www.cnbc.com/2017/07/11/americas-10-most-expensive-states-to-live-in-2017.html
• https://www.forbes.com/places/mn/
• https://sf.curbed.com/2018/1/4/16851044/google-sunnyvale-new-offices-big-bjarke
• https://www.forbes.com/places/va/
• https://www.forbes.com/sites/forbestechcouncil/2017/12/08/six-u-s-cities-for-tech-savvy-millennials/#4b058b1f3073
• https://www.nytimes.com/2017/02/08/technology/personaltech/why-silicon-valley-wouldnt-work-without-immigrants.html

This article was originally posted on Porch.com.

Arbor Mortgage Group was founded in 2007 in Bend, OR and is the leader of the Central Oregon mortgage industry. Rob Moore is Arbor’s co-founder and President and runs his company alongside his partner, Chris Starling. As business owners, Rob and Chris believe that in order to be the best in the industry, they need to fully understand their clients & partners. The best way to do so is to be active loan officers as well as run the business. This allows them to interact with clients and partners on a daily basis and see firsthand how the industry is behaving, what the real estate trends are and what clients are needing and wanting from their lender.

One thing that all of Arbor’s team members have in common is that they love what they do and also where they live. Several of them have relocated to Central Oregon from other cities, States and countries. This allows them to better understand their customers, as they have been in their shoes before. Moving and purchasing a home in a new area can be both exciting and confusing. Every person’s situation, background and goals are different. Arbor understands that no two houses are the same, no two clients are the same and no two mortgages are the same. With all of that uniqueness, Arbor strives to become a partner to their clients, guiding them through the home loan process and ensuring they both understand and feel comfortable with the transaction.

Since its inception, Arbor’s mission has been (and continues to be) to offer Personal, Positive & Professional service to all their clients and partners and they take great pride in doing just that. Their commitment to the Personal, Positive and Professional home loan experience is evident from the thousands of customers they have helped along the years and the increasing number of repeat clients they get.

If you are interested in purchasing a home or refinancing your existing home, reach out to Arbor Mortgage Group and one of their loan officers will be glad to help you find the right mortgage product for you and your family. Arbor offers conforming mortgages for purchase and refinances as well as FHA loans, VA loans, Oregon VA Loans, USDA Rural Loans, Jumbo Loans, Construction Loans, Homestyle Rehab Loans,  Home Equity Loans and Reverse Mortgages.

Please visit their website www.arbormg.com or call them directly at 541-323-0422.