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Bend Deschutes County
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Old 05-29-2014, 12:31 PM
 
Location: Oregon, formerly Texas
10,065 posts, read 7,235,755 times
Reputation: 17146

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As expected, I got my notice for an increase in my rent once my lease is up.

12% increase over last year. 17% increase over 2012.

I can afford it but my apt complex is one step up from a slum with appliances that are 30 years old that they refuse to replace. We're getting increasing crime - people that park on the street have been suffering car break-ins and I've seen more homeless / sketchy looking people wandering around, rummaging through the dumpsters these past few months.

The place is not worth what they're asking; this rental market is absurd.

I don't know how people who work these service jobs in Bend make it. They're not getting a 12% increase in their pay. Neither have I.
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Old 05-29-2014, 01:05 PM
 
Location: OR
722 posts, read 1,353,348 times
Reputation: 334
Country of haves and have nots. Certainly not an easy place for low wage workers.

How many hours must minimum-wage earners work to afford rent?
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Old 05-29-2014, 01:24 PM
 
Location: Cascade Lakes Highway / Kapalua
456 posts, read 1,007,399 times
Reputation: 184
Quote:
The place is not worth what they're asking; this rental market is absurd.
So I guess you will move to a rental that offers more bang for the buck? Would you like to see some rent controls instituted in Bend much like San Francisco,CA has?

It's not just rentals, I see the newly released relatively small lots in NWX are going for nearly $300K.
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Old 05-29-2014, 02:31 PM
 
2,542 posts, read 4,002,422 times
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Quote:
Originally Posted by Dry Side View Post
It's not just rentals, I see the newly released relatively small lots in NWX are going for nearly $300K.
Wow. Are those the larger NWX lots I heard about?
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Old 05-29-2014, 02:33 PM
 
Location: Cascade Lakes Highway / Kapalua
456 posts, read 1,007,399 times
Reputation: 184
Hate to call them larger, but yes the ones next to the new Discovery Park. Most of them are pre-sold to developers, but I hear there are 8 that will go on MLS soon for nearly $300K.
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Old 05-29-2014, 02:46 PM
 
2,542 posts, read 4,002,422 times
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OK so they are larger relative to the typical lot in NWX but still smaller than other lots available for $300K. I know NWX is popular but $300K for a small lot? I don't get it.
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Old 05-29-2014, 03:22 PM
 
Location: Cascade Lakes Highway / Kapalua
456 posts, read 1,007,399 times
Reputation: 184
NWX seems to have found the formula for success as nothing much stays on the market very long there. I think they did a smart thing by putting the garages in alleys. If one compares the look of Shevlin Meadows to NWX, they find many cars parked outside garages full of stuff. The downside is the NWX yards tend to be smaller.
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Old 05-29-2014, 04:34 PM
 
Location: Oregon, formerly Texas
10,065 posts, read 7,235,755 times
Reputation: 17146
A lot not too far from my complex, which is on the west side, went for over $200K.
Quote:

So I guess you will move to a rental that offers more bang for the buck?
There are none. Anything else is more expensive for an equivalent unit, doesn't matter which part of town - all apts are pretty similarly priced now. Crap ones are around $750, newer well equipped units are high $900s.

I'm under contract for a house in Redmond. It's looking like it will work out. If it falls through I'll be looking at Redmond / Prineville. Gas prices suck, but an extra $1500 year in gas is less than $3000 a year more in rent or $10,000 a year more in inflated housing price. In Texas a 45 minute one-way commute was normal, so it's not a big deal for me. Around here people look shocked that I even want to go to Redmond, as if it's another country or something.

Quote:
Would you like to see some rent controls instituted in Bend much like San Francisco,CA has?
SF is on an attractive peninsula and it has perfect weather year-round. It's geography is naturally in demand. Bend has no such geographic restrictions.

I'm not sure there is any kind of city policy that would be beneficial. Seems like the only thing that would put downward pressure on prices is to build more units.
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Old 05-29-2014, 04:52 PM
 
2,542 posts, read 4,002,422 times
Reputation: 3615
You bring up a very interesting point. If Bend continues to appreciate at this rapid pace will Redmond, Prineville, and LaPine grow more rapidly because people choose a commute over the more expensive housing in Bend?
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Old 05-29-2014, 04:53 PM
 
Location: Oregon, formerly Texas
10,065 posts, read 7,235,755 times
Reputation: 17146
Quote:
Originally Posted by BendLocal View Post
You bring up a very interesting point. If Bend continues to appreciate at this rapid pace will Redmond, Prineville, and LaPine grow more rapidly because people choose a commute over the more expensive housing in Bend?
Hasn't Redmond's growth already had a lot to do with Bend overflow?
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