Economy in Bend?

[cybersmom]

Lootmeister, your comments alarm me as to your intentions, but I will digress on saying more. Patricktrow is correct in many aspects. The downtown area, is currently growing and the buildings have exceeded the long-standing 3-story rule and will continue to get larger because it's out of room. However, Bend has maintained a constant beauty that cannot be beat. It has a 'Mayberry,' feel to it (for those old enough to remember Andy Griffith ). That is, setting aside traffic. As I said in my prior post, there is a high-end, living atmosphere that seems to be fairly strong. If this is your taste in living, then Bend would be an excellent fit. To make it clear: I have watched real estate agents with 10 years under their belts and great success, submitting applications to Sprint stores to work as salespeople. That is not to say there is anything 'less,' in the value of their work, just that they will not make anything near what they used to, and the difference in income will affect an $1,800 per month mortgage.
As for myself, I have been renting the same home for almost 5 years now. I am in a 3-bed, 2 bath home on 2 acres and I pay $800 per month. Why do i pay so little? The current appraisal on the home the landlords wanted to sell would cause them a $40k loss. In Sunriver, where it is living in the woods and is cleaner, quieter living, my mom sold her home for a $20k profit (over $350k for a home I would never have wanted to live in). One thing to be sure - if you look into the home foreclosures in bend, there are tremendous opportunities here. If I was not in the situation I'm in now, I would invest in one without a question. A lot of people have made their money in Bend by owning more than 1 home and renting the second one out. That is not new or unusual anywhere, but big business has caught on to it and is joining in. I also have stories of real estate agents who are good friends of mine that have told me about the MLS (Multiple Listing Real Estate System) here in Oregon which goes through a LOT of abuse I'm afraid, and it seems that they really do get in a lot of first dibs, but not always.
If you asked me if it was worth it to move to Bend, I'd tell you this: You know that vacation you've been putting off for a while, or those plans you had to take one? Change them, and come here for 5 days. I know that's a lot of time for people, but perhaps across a weekend you could make it work. I don't know if the moderator will allow this, but if you go to Bend Oregon's official website for visiting: Bend Oregon Visitor Bureau for Hotels, Lodging or Restaurants (if the moderator would not like the link posted and removes it, I first apologize to the mod, not trying to make life difficult , but you can go to Google and do a search for "Bend Oregon calendar of events", and you will see a link to the local calendar of events), and you can see for yourself that Bend has been bringing in some pretty big names, and when a good time to visit might be so that you would have something fun to do while you're here. But, do not make the mistake that so many others do: Going to real estate offices, through hotels or to the Visitor's Center will not give you the 'realistic,' picture you seek. You would need to do the following:
--Go to the unemployment center (called the workforce center) and ask for information on the job rates in Oregon. They too, try to make them look better, but still give accurate numbers and can usually separate it by field.
--Go to a location in your industry. For instance, if you're an architect, go in and talk to an architect firm as if looking for work, even submit an application, just to get an idea of pay, work available, attitudes, etc. You might find that there are some amazingly nice people here, and there are some tyrants (just like everywhere else ).
--Stop by 2 or 3 stores, in 3 different parts of the city (grocery stores) and do a price shop as if you were shopping for home. Just bring a calculator and have fun.. "Ooo.. this looks good, I'd definately want one of these..."
--Then drive the area. Nobody likes to visit a town and then drive away from it, but since Central Oregon is spread out, you'll want to do this. Tumalo has excellent house prices - but check out where it is, and watch your gas mileage and costs when you do, and determine if it would work for you. ie - Regular gas at several Chevrons has just reached $3.29 per gallon. I can get about 25 mpg (SUVs/Trucks aren't usually that lucky, but can be ) on the open road, so going 12 miles into town, or if I'm going to a home, which would be about another 4 or 5 miles +/- would be 32 miles per day, round trip. That's 160 miles per week, no detours. So, we're talking about 6 - 7 gallons per week, no weekend driving, then in about 2 weeks I might be looking at a fill-up. So, every 2 weeks is going to be $45 or so. That's only a little over a $1000 per year in gas. Realistically, with all the side trips and what not, depending on your car (a lot of truck owners might spend around $90 every 2 weeks), you'd be looking at $200 or so per month in gas. Not outrageous considering the times, but that might affect your decisions. What's the wash? The wash is: getting to buy your own home for around $950 to $1000 per month (dependent on credit scores, max $150k, etc.) out in Tumalo, that may be well worth it. Plus, out there, if you like the warmth year round and you want a little extra land, there's some spots still available.
--Then finally, avoid the blunder of going to coffee shops and places where the employees will tell you that life is wonderful and amazing, because they are told they have to, pending secret shoppers. Sure, take advantage of visiting down-town and the beautiful, fun shops that are there (which every city has in their downtown area - lest you notice the amount of empty stores and newer stores/restaurants in Bend due to the economy), and visit some of the backwards places. For instance, we have stores in town that are for smokers and have slot machines. I, myself, am not a smoker and hate gambling. However, there are real people in there. The same as if you visit one or two of the bars at night (mind you, I also do not drink!!). But, the real, 'locals,' do go to these places. I've met multi-millionaires who are taking a break from their usual, $10k per month country club to guys who managed to recycle enough cans to get a hotel room, shower and be permitted into the bar to have a drink. There really is that big of a difference. It's not terribly rowdy or crowded and the conversations are fun.

That's what I like most about Bend - the real people. I have spent countless hours with friends who work in real estate, teach at the community college, are doctors or therapists and we discuss a variety of issues as Bend has a tremendous diversity in its political structure. At the same time, I can get with people who are not so well off and discuss just as wide a range of topics and be equally as impressed with the people here. I do worry about my son, constantly, since the crime rates here are higher than normal (even in contrast to my last post), and am still opposed to the politics here. If I were given a chance to go somewhere other than Bend, with better politics (knowing that there always will be some), and a better economy, I don't think there is anything holding me here - even if I was buying a home. I wouldn't live in Tumalo or Redmond because of the travel-time. I am avoiding working in Redmond due to the travel (not that it's bad, but I've never been a fan of commuting).

If you're watching Bend for the economy, watch the entire nation. To see if just Bend is going to suddenly boom, would be futile. There's no telling the future, and no trends have taken place here except for spurts. I listened in to an older lady speaking with the employees where I was the other day who was trying to get directions, as she had lived in Bend her whole life, but had left for the last year to take care of a dying relative and came back to find streets changed, new construction, cut off roads and was almost in tears. I felt really bad for her. She loved Bend and wouldn't want to go anywhere else, but the changes were so dramatic, she felt like she was starting all over again. That should tell you that there are constant changes, and the City Council's are obviously working toward a better, financial future, as that would be their goal. but, if the nation as a whole is struggling, it's a good bet, that no, one economy will be better than the other.

Finally (sorry to go on so long, but trying to be thorough) - for those with the money to take a leap of faith - there is always the option of purchasing a second home here in Bend. I am not talking about time-shares, but start putting money down on a home, in a decent area. You can put it up for rent if you wish to try and make back what you're paying in Mortgage, and see what it does. You can sit on it for a year or half a year, then try to sell it, and see what it does. And, don't be afraid to pick up several of those freebie magazines by the doors to the grocery stores: Rental Homes, Homes for Sale, etc. - as they will be a gooooood, indicator of some real facts. You can call a real estate agent and ask to know how long a home's been on the market, or if it has been put on, taken off and then put back on (a common strategy for a home that's not selling), and I believe (but don't quote me ), that they have to tell you the truth - and they can look it up in a matter of seconds - that's what MLS is for .

Anywho - hope that helps some of you. Yeah, Bend is cool. Enjoy!!