Prices dropping in Bend yet? (Portland, Eugene: sale, real estate market, lofts)

[asheardream]

we are currently living in hawaii born and raised on maui we want to move to bend and on craigs list the prices of homes are rediculously cheap is it still going down?? should we wait a year and where is the nearest hospital??

[skypros]

I have a stick built home built in 2005 in escrow in La Pine (bend) and all I can say is that I got it for far LESS than the owner paid for it in 2005 and the owner put at least $10,000 in improvements in it.

There is a point to how far it will go down...... I got the house for builder COST and got the lot for 1/2 the price of what other lots (1/2 acre) costs.....

BTW I did not buy a foreclosed / short sale home..... It was easier and a better deal to buy a home from a home owner vs a bank...... IE: the best deals may not be bank owned properties! My seller was really MOTIVATED!! and I offered $35,000 below his asking price of $169,000

[Nell Plotts]

Yes, homes in Bend are still going down in price. Who knows how far they will fall. It isn't Phoenix, Detroit or Cleveland but...

I hope you don't need a job.

[chaz1953]

Housing prices have dropped. However, unemployment is near 17% for the area. Like many areas, city and county services are being cut, schools are underfunded due to property taxes being the main source of income for schools. Teachers are being cut, programs eliminated. It's May the 4th and we're having a typical Central Oregon spring...temps in the 45-60 degree range with rain or snow. Consistent good weather kicks in about mid June. There is little sense of community here, as 50% of the population (including me) has moved to Bend in the last 8 years. If you do not have a reliable income source or job lined up, I'd say stay put.

[delta07]

Originally Posted by asheardream

we are currently living in hawaii born and raised on maui we want to move to bend and on craigs list the prices of homes are rediculously cheap is it still going down?? should we wait a year and where is the nearest hospital??

Prices are very low right now. If you can afford it and have a job, I think it's a great time to buy. Of course, no one really knows whether Bend has hit bottom. It just depends on your comfort level in the current economy.

The nearest, and only hospital in Bend is St. Charles Medical Center in the NE part of town. We just bought a house about a mile from the hospital in an older, established neighborhood and got a screaming deal.

[Dry Side]

Bend prices continue to fall. Average is just above $100 sq.ft. Job losses continue to mount so I see no reason to believe home prices have hit bottom. Better to sit on the fence a while longer.

[Dry Side]

Love the RE spin on this one:

Once booming, Bend, Oregon tumbles

[angelbug]

I'm planning to relocate within the year and Bend is one of 4 or 5 places on my list (all in OR and WA). Just out of curiosity, I checked the median housing price charts on city-data.com for the places I'm considering, and Bend is the only one that dropped in the first quarter of this year. Which is not to say it will continue dropping, but it seems to be lagging on the upswing.

The prices are getting awfully attractive, and I'll be telecommuting, so the job is not an issue...I'm just balking at the winter. My only visits have been in the summer, which was gorgeous.

[delta07]

Originally Posted by angelbug

I'm planning to relocate within the year and Bend is one of 4 or 5 places on my list (all in OR and WA). Just out of curiosity, I checked the median housing price charts on city-data.com for the places I'm considering, and Bend is the only one that dropped in the first quarter of this year. Which is not to say it will continue dropping, but it seems to be lagging on the upswing.

The prices are getting awfully attractive, and I'll be telecommuting, so the job is not an issue...I'm just balking at the winter. My only visits have been in the summer, which was gorgeous.

I would definitely plan your next trip for Bend in the winter, say around January or February, to see what you think. Winter is pretty long here. If you're not sure you can handle the snow and cold try spending at least 2 weeks. That should be your deciding factor!

[Nina-in-Ashland]

Originally Posted by delta07

I would definitely plan your next trip for Bend in the winter, say around January or February, to see what you think. Winter is pretty long here. If you're not sure you can handle the snow and cold try spending at least 2 weeks. That should be your deciding factor!

VERY good advice - DH and I spent a week in Bend in February and determined that cold combined w/ the length of the winters in Bend would not work for us. Best of luck to you.