Woodhill Homes Blog

So, if Central Oregon is in the center of Oregon, then what’s in the center of Central Oregon? Smack dab in the middle, it’s Redmond.

A bustling and growing city of 23,500 (circa 2006), Redmond is conveniently and centrally located between Bend, Sisters, Prineville and Madras.  Its size makes it so one can find a number of resources, services and employment options in town, yet its location allows residents only a 15 – 20 minute commute to other areas if needed. One place to spend time in Redmond is the Deschutes County Fair & Expo Center. This facility is a big reason why people from all over the world travel to Redmond with about every imaginable event being held there from rodeos, concerts, conventions, home shows, sports events and more. It doesn’t hurt that Roberts Field, Redmond  Municipal Airport, is right down the road from the Expo Center.

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With today’s real estate market conditions, now is a great time to buy and trade up! “What?” you may say. But when it comes to buying and selling homes, I always suggest people look at the big picture when it comes to trading up. Okay, you may not get a dreamy windfall of cash you would like for the house you are selling, but if you have equity in your current house you can use that as a down payment on a better house. And if you need a better house (one that’s bigger, nicer finishes, different neighborhood, more energy-efficient or whatever), you would be crazy not to upgrade now. You have an outstanding selection to choose from and waiting will only cost you more in the long term. Think about it.

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Read a very interesting article over at the Realty Times site this afternoon about the outlook of the real estate market after the latest federal rate cut. You can read Mr. Kenneth R. Harney’s article here. Found this quote from the article particularly note-worthy:

“Now despite all this, there continue to be clear signs that the housing market itself is finally bottoming out of its nearly three year post-boom correction…”

Hmm, does that sound familiar…? Anyway, very good article!

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Bend, Oregon, the energetic city, is located in the foothills of the Cascade Mountains in Central Oregon. As a city, it was incorporated in the year 1905. The city is situated at an altitude of 3,623 feet and stretches 32.2 square miles. The climate is a typical desert type with sunny days and cool nights.

The city attracts a large amount of tourists and is often referred to as the recreational Mecca of Central Oregon. To begin with, The Mount Bachelor Ski Resort attracts tourists from all over the world. The Cascades Lake is a great gathering place for hitchhikers to enjoy a little peace and unwind.

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Last week at the annual Central Oregon Forecast breakfast, local appraiser Dana Bratton, called for the market bottom out April 25th. Wow, that guy has guts! I’m not saying I disagree with him, but it takes a tremendous amount of chutzpah to make that sort of prediction.

Really, if you look at the numbers, he may not be far off. Last month in Bend, there were only 11 single family permits pulled. That is off of a high of 271 in June of ‘05 and 81 in January of last year. What that means is that virtually no new homes are being built, and if you factor in sales per month, and existing inventory, we should work through the overhang in inventory by about mid summer putting us back to an equilibrium.

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