Cheri Smith

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.

When I compile my real estate statistics, I include single family homes, townhomes, condos, multifamily homes, and farms. Some people only include single family homes, townhomes and condos. I prefer to look at the big picture and track all of the real estate activity. If you're interested strictly in homes, townhomes, and condos, those numbers are included at the end of this post. Sales were up a little for April, compared to March and February. Check out this incredibly technical table I created:

More detailed statistics for April can be viewed here: April-2008

The price range seeing the most activity is still $200-$250,000. In that range, out of 195 homes for sale, 35 sold. That's roughly a 5-6 month inventory. They say when the absorption rate is around 6 months you have a balanced market, meaning the market doesn't favor either the buyer or the seller. The absorption rate is most accurately used to look at the market as a whole and not just a certain price range, but I simply want to show that certain segments of the Bend real estate market seem to be turning around. The slowest is the $900,000 plus range. Of the 222 homes for sale over $900,000, only 4 sold during the month of April. Now that's around a 55 month inventory. Ouch. I suppose I'll hold off on buying that Audi wagon. I think it's very interesting to note that for a long period of time, the million + price range remained relatively untouched by the down turn in the market. Not the case anymore. The market as a whole has roughly a 19 month inventory (calculated by taking the number of active listings divided by the number of homes sold).

For those of you only interested in homes/townhomes/condos, here you go. Basically, we have additional inventory in multifamily properties and farms but they don't affect the sales much.