Cheri Smith

I visited the Newport Landing model yesterday for the second time and continue to be impressed. Newport Landing is a new modern home development near the roundabout at Newport Ave. and College Way in Bend. The homes were designed by GGL Architecture of Bend and built by Diamond Built Homes of Redmond. They currently have 4 floor plans available (and should eventually have 6) that are very open with lots of large windows throughout, decks and terrace areas, and modern design features. They offer 3 interior package options, all customizable, with natural finishes and surfaces including stone, tile, glass and wood. They put a lot of thought into the floor plans and orientation of windows and rooms. Floor plans vary from lot to lot so that even with all the huge windows, you can maintain your privacy and won't look directly into your neighbor's window.

If you love modern architecture like I do, please contact me. I'd love to help you find a modern home in Bend or a lot that would allow you to build your own custom modern residence.

I compiled the July 2008 real estate statistics and again, not much has changed. What really stands out is the fact that there were zero homes contingent, pending or sold in the $850,000 - $1,000,000 price range but 114 homes for sale. We're still seeing the most activity in the $200,000 - $250,000 range and really, even homes priced up to $400,000 are selling. Overall in the month of July, 81 contingent offers were accepted, 169 homes were pending, and 114 homes sold in Bend. Only 18 of those sales were homes priced over $500,000. There are 2460 homes for sale, most of them in the $200,000 - $400,000 price range. The median sales price for July was $297,500. This is down from the June median price of $319,000 but in June, we saw 29 homes priced over $500,000 sell compared to 18 last month. The median sales price for sales this year is currently around $308,000.

I'm impressed with the number of quality homes currently available for around $200,000. I'm not even talking about short sales or bank owned properties. There are brand new homes for sale priced from $169,900.

View the complete July statistics here: July 2008 Real Estate Statistics

The Bend, Oregon real estate market was just featured (in a positive light) in USA Today. The article stated "it's a great time to buy a home in Bend, Oregon." I think this type of nationally published article is very important for the Bend real estate market for several reasons. Many Bend locals are unable to take advantage of this great buyers' market because so many of them have to get their homes sold first. We're stuck in a vicious circle. Many home sellers in Bend are relying on buyers from out of the area to move to Bend and purchase. Even in this slow market, plenty of people are looking for second/vacation homes and either have the cash to purchase or don't need to sell anything but might not have decided where they want to purchase. Maybe they have decided on Bend but need some reassurance that it's a good time to buy.

You can read the entire USA Today article here: Low prices, big inventory invite home buyers to Bend, Ore. - USATODAY.com*

The $6,000,000 home featured in the article is listed by Dan and Ronda Reedy in my office, Total Property Resources. They are definitely relying on out of area high-end buyers to get a home in that price range sold and it doesn't get much better than free national advertising. The USA Today article resulted in a feature on KTVZ news as well. You can watch the video by clicking here: Pricey Bend Home Draws National Spotlight

The tour home at Mirada was awarded "Best Value" in its category for 2008 COBA Tour of Homes. I was one of the hosts in the model last weekend and I'm so happy about the feedback we got from attendees. It's wonderful to hear people say things like "We've been to every home in this price range on the tour and yours is by far our favorite." We had other people come through the model and then come back at the end of the day because they thought that our standard amenities were better than those in other homes they looked at.

Our tour home is a 1332 sq. ft. single level floor plan with 3 bedrooms/2 bathrooms. During the tour, the price is $214,900 ($229,900 after the tour) and that includes the following standard amenities:

• 12X12 inch tile countertops in the kitchen and bathrooms
• brushed silver kitchen appliances (excluding fridge)
• hardwood floors in the entry and kitchen
• solid wood doors throughout
• wood baseboard trim
• front landscaping and sprinkler system
• Trane forced air furnace system

You can choose from 5 exterior paint colors and 3 interior packages. The buyer can choose their lot and floor plan and once an offer is accepted it takes about 90 days to build. There are 6 floor plans to choose from ranging from $189,900 to $259,900. Our model will be open this Friday, July 25 from 12-6 and Sat/Sun, July 26-27 from 10:00am-6:00pm. Mirada is located on NE Butler Market Rd. between 27th St. and Eagle Rd. I hope you can stop by!

This weekend is one of my favorite Bend events: The Summer Festival. I don't usually go downtown for the various events because in my opinion, they all start to seem the same. As I walk along the sidewalk, trying not to get my toes run over by strollers and finding a way to get around someone that stopped right in the middle of the path to take a look at some artwork or jewelry, I just get frustrated and annoyed. I never stay more than about 30 minutes. I realize I probably sound like a grinch because most people love this stuff.

The Summer Festival is entirely different in my opinion. Musical acts from all over the US come to Bend to perform so there's a great variety of Jazz, Folk, Funk, Reggae, Rock, Big Band Swing, World, and other more "eclectic" genres. You can also enjoy great wines, beer, shopping, and dancing.

Downtown is roped off in different sections. If you're into Jazz and sampling world class wines from Northwest Vintners, head to Minnesota Ave. If local beers are more your style, head to the Main Stage on Wall St. If you've got kids, there's the always popular (even for adults) Working Wonders Fun Extravaganza in front of the Mirror Pond Gallery. The SOUK marketplace on Oregon Ave. features international shopping (furniture, clothing, jewelry) and World music. My favorite is the international stage, particulary the One World Taiko Japanese percussionists. I was (am?) a percussion player and totally appreciate these musicians. And last year, I had a hip-hop lesson from the Gotta Dance Studio. Yeah, it was a bunch of 10 year old girls and me but I had a lot of fun and thoroughly embarrassed my husband.

For more information about the Summer Festival events, visit the website: http://www.bendsummerfestival.com/default.aspx

July 9-13th is the Cascade Cycling Classic. This event attracts most of North America's top cyclists and is the longest consecutively run elite stage race in the country. The endurance of these athletes blows me away. Last year my husband and I took the dogs to one of the lakes along the Cascade Lakes highway and then sat near the finish at Mt Bachelor. We watched the gruelling final climb near Sparks Lake of the Pro Men's leg and it was incredible. My favorite event is the criterium downtown, which is on Friday evening. If you go, stake your claim on one of the corners so you can watch the cyclists go nearly horizontal as they lean into the turns. The wind created as they pass by literally blows your hair back. It's really exciting. This year I'll have a bird's eye view because I'll be watching from the Franklin Crossing building. Here's the website for the race stages: http://www.mbsef.org/CascadeCyclingClassic/?page=stages

Other events this weekend include the Sisters Quilt Show, Dinner Canoe Under the Stars, Rhythm on the Range, Raft & Brew, Crooked River Dinner Train, and the Smith Rock 15K. Visit the COVA website for details: http://www.visitcentraloregon.com/calendar.html

I hope you can get out and enjoy these Central Oregon events. It's why we live here, right?

It seems that everyone is looking for a deal in the current real estate market. Often times, even a good deal is not enough, it has to be an incredible deal. As I check out new listings and price reductions in the MLS each day, I often run across properties and think to myself, "Wow, that one won't last long" and sure enough, the property quickly goes pending. I'm going to start posting these deals on my blog.

This 1741 sq. ft. 3 bedroom/2.5 bath home is located just north of downtown on Lakeside. Floor to ceiling windows in the living room allow for a wonderful river view. It has a contemporary feel. Click on the photos to enlarge them. Contact me for a tour of this home.

Man I feel like I'm on the ball! It's July 1st and I already compiled the stats for June. I decided to take a new approach. I included a column specifically for the "Contingent" status. Normally I group these in with the active listings because so many contingent offers don't close and because we can still actively market the property and accept a non-contingent offer. Most sellers are very reluctant to accept contingent offers and to be quite honest, I don't like it when my buyers ask me to write them. I suspect that in the current market, we're going to see more and more sellers accept contingent offers, therefore, I included a separate column to track these properties. I can tell you that in June 2007, there were 1972 properties for sale and only 10 contingent offers accepted. As of June 30, 2008, there are 2319 properties for sale and 82 contingent offers have been accepted. I don't have the information for March and April in front of me but I might be able to find them for comparison. Here's the summary:

Detailed stats can be viewed here: June 2008 Real Estate Statistics

I have to admit I was disappointed to see that there was virtually no change in the number of home sales from April to May. And since I'm busy and not feeling very witty, I'll leave it at that.

View the detailed statistics here: May Real Estate Sales

I attended an event at the 919 Bond Building last night. Man that place is swanky. I instantly felt hipper the second I walked through the doors. The 919 Bond building located downtown was developed by Taylor Pickhardt Development LLC and features 4 modern condominiums, a street level restaurant, The Loft of Bend private wine club, full service executive office suites, and a rooftop garden.

Volo restaurant on the main level is billed as an upscale yet casual restaurant serving contemporary American cuisine. We had the opportunity to sample some appetizers and I was not dissapointed. I can't remember exactly what they served but I do remember a mushroom puff that was great. There really aren't enough opportunities to eat "puffs" if you ask me. The wait staff (all impossibly beautiful) was very friendly and attentive and managed to meander through the large crowd without ever being in the way. And they always managed to swoop in and refill my wine glass before I completely swalloped the last sip. A true measure of excellent service.

The second level features a social club, called The Loft of Bend, and office suites. The Loft will be limited to 250 members and will cater to the growing ranks of destination resort residents in Central Oregon who want to meet downtown for a catered business meeting or to entertain guests. Each member will have their own temperature-controlled lockers for storing cases of wine. Adam Bledsoe is the owner and operator, and Drew Bledsoe and Chad Wold are partners in the venture. The Loft of Bend is scheduled to open by late June. The 14 office suites, 6 of which are already reserved, are full service. Monthly lease rates range from $820/month for 156 square feet to $1495 for 272 square feet and include membership to The Loft of Bend, access to rooftop garden, concierge service, wireless printer, fax machine and copier, all utilities including wireless internet connection, janitorial service, phone system, and a common area with kitchen and conference area.

And now for the condos. There are 4 condos in the 919 Bond building but they've already accepted reservations on 2 of them. They are all finished in a similar warm, modern style and have extraordinary views. My favorite was Condo Unit 304. It's 2,561 square feet with 2 bedrooms, 2.5 baths. This unit is west facing with so many floor to ceiling windows I wished I had my sunglasses. There is an enourmous deck off the main living area and by enormous, I mean 1338 square feet. I've shown houses smaller than that deck. For a price tag of $1,500,000, the interiors are finished with CeasarStone countertops, Viking appliances, bamboo wood floors, Anegre/Wenge cabinetry, cut pile wool carpet in bedrooms, in-floor heat in master baths, air conditioning, floor to ceiling slider doors, built in BBQ, double sided fireplace, two master suites, wet bar, and come wired for stereo & security. The floor plan is available here: Condo 304 The other 3 available condos are Condo 301, Condo 404, and Condo 401.

I have a confession to make. I love Modern architecture. For some reason, modern is not very popular in Bend, Oregon. That's not to say you can't find it in Bend, but most of the modern homes in Bend are currently For Sale. They were either built as spec homes that aren't selling or were custom built for someone that is now trying to sell but can't seem to find an interested party. There are certainly people in Bend that appreciate the design but overall, Bend has not embraced modern architecture like other places such as Seattle and Southern California.

The modern development, Grandview, next to Newport Market is a perfect example. I was really excited to see those going in and thought it was a very refreshing change from the Craftsman and NW Cascadian styles. Not only are they modern, they are eco-modern and estimated to use 54% less energy than a standard code built home. Other people seemed to think the development was "awful", "hideous", "the dumbest idea a developer in Bend has ever had", and that they would "never sell." Well, turns out they did not have much success, or any for that matter. They are now owned by the bank. I'm not sure if it's because people did not embrace the idea of modern development or if it was the location. Newport is a busy street, which was probably a turn off for some, but it's also a great location. They're smack dab in the middle of several restaurants, coffee shops, and boutiques, and right next door to Newport Market. If you do like them, now is the time to buy them for a low price.

This leads me to wonder what kind of success Newport Landing will have. Newport Landing is another modern project near the roundabout at Newport Ave. and College Way. They're off the street a bit more, which might add to the appeal for some, but they have a lot in common with the other project. From the Newport Landing website, Newport Landing will display "a fresh approach to residential architecture. Homes are characterized by open room arrangements, abundant windows, inviting deck and terrace areas, and modern design features such as free standing stairways and wall mounted fireplaces. Stone, tile, glass and wood finishes add an attractive palette of textures and colors to create an atmosphere of comfort and enjoyment within homes that serve as the center-piece of an active Central Oregon lifestyle."

I must say that I do prefer the type of modern architecture that blends in with its surroundings and seamlessly transitions from the outdoors to the indoors. The Newport project and Newport Landing both stand out enormously with their bright colors and flashy exteriors. Shevlin Reserve is more my style. The homes are situated on larger lots with trees and some have Cascade Mountain views. They are all single level (some floor plans have a few stairs) with generous interior spaces and that indoor-outdoor flow I was speaking of. The custom door/window system in the great room can be opened, literally bringing the outdoors in. Yeah, I could live there.

Now when I really start making money, I'll move into one of JM Garren's masterpieces. Not only do they build exquisite homes, they are clean and green. They use high-quality green, renewable materials and practices whenever possible. They incorporate ultra-efficient heating/cooling systems and appliances, wool carpet, low VOC paints, and they don't use MDF (which contains formaldehyde based glues) in their cabinets. They built a mid-century modern single level home in Broken Top that's currently available for $1,695,000.