Mar
11
2008
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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Mar
05
2008
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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