<![CDATA[Jordyn Graham Blog]]> <![CDATA[Debt-to-Income Calculation]]> Debt-to-Income Calculation

debt-to-income-calculation

If you are considering purchasing a home soon, you need to be familiar with your debt-to-income calculation. Understanding this simple math formula could mean the difference between getting approved or getting denied for a home loan.

The discussion below will explain how to calculate this ratio and how it is used by mortgage lenders to approve people to buy a home.

The debt-to-income ratio, also called the DTI ratio by the mortgage industry, is a comparison between how much money people are making versus how much is being spent on debt.

The formula looks like this:

               Total monthly debt payments ÷ monthly income = DTI

Here is a simple example that will explain how the math works.

Shawn and Linda have been married for 3 years and have saved for a down payment on a home. Shawn is an accountant earning a $60,000 per year salary and Linda is an elementary school teacher earning a $35,000 per year salary.

They have the following monthly debt payments: one car loan of $376.25, two credit cards of $65 each, and student loan payments of $486 per month. Their total monthly debt payments are

$376.25 + $65 + $65 + $486 = $992.25

Their monthly income, before taxes are removed, is

               $60,000 + $35,000 = $95,000 yearly

               $95,000 ÷12 = $7,916.67 monthly

Their debt-to-income ratio, or DTI ratio, is

               $992.25 ÷ $7,916.67 = 13%

Very simple math, and very easy to calculate.

The only thing missing is the proposed monthly house payment for their new home. According to their lender, the proposed payment on the home that they are considering is $1,285 per month. So, the new calculation would be

               ($992.25 + $1,285) ÷ $7,916.67 = 28.77%

Now that we have explained the math, let us look at some of the details of this calculation and how lenders view the ratios.

Two Ways to View DTI

Most mortgage lenders will review the DTI in two different ways. The first way is to consider the home-only ratio. This is also called the Front Ratio.

What this means is the lender will compare the proposed home mortgage to the overall income. In our example above, the front ratio would be calculated as $1,285 ÷ $7,916.67 = 16.23%

NOTE: The home mortgage payment will need to include a proposed amount for annual property taxes and the annual homeowner's insurance policy. Your lender should provide this to you when you request a mortgage estimate.

The other way to view the DTI is the calculation we did earlier, which adds all the debt, plus the proposed mortgage payment, and divides it by the monthly income. This is known as the back ratio.

As previously shown, for the example of this article, this married couple has a DTI of 28.77%

Each type of mortgage loan will have its own rules about the 2 different ratios.

A more thorough discussion below will provide expected DTI ratios for different mortgage loans.

Things NOT Included in DTI Calculations

Now that we have examined how to calculate the DTI ratios, let us look at items that are not covered by the calculations.

The following items generally are ignored when determining a DTI ratio for a mortgage loan

  • monthly utility costs for items like electricity, water, internet, etc.
  • food costs per month, whether dining out or eating at home or some other combination
  • money spent on traveling to work such as subway fees, bus fares, or other similar charges
  • Money spent on entertainment
  • Items deducted from pay for saving or investing to a retirement account
  • Monthly insurance costs for automobiles, accident coverage, or medical coverage
  • Subscriptions to items such as internet-based entertainment (Netflix, Spotify, etc.) or gym memberships, or other similar monthly items.

These items are supposed to be covered by the amount of money remaining from the DTI calculation. That is why the ratios are set up in such a way to ensure the borrower has adequate money left over after paying the mortgage and other debt.

Overlooked Items to Include in DTI Calculations

While it is easy to understand a debt payment like a loan owed on a car or a credit card, some other items are added to the DTI calculations that you may not be considering.

If you are or will be responsible for paying any of the following types of obligations, these items need to be disclosed to your lender to make the correct DTI calculations.

  • Homeowner Association or HOA dues. These dues may be paid yearly or monthly, depending on the neighborhood.
  • Child support due to a divorce decree or other legally binding agreement
  • Alimony or similar spousal payment due to a legally binding agreement.

You may be asked by your lender to provide legal documents to verify the monthly amounts for the above items to get approved for the mortgage.

Different DTI for Different Mortgages

Each kind of mortgage will have slightly different guidelines for their qualifying DTI ratios. Here are some general rules about the major types of home loans.

Conventional mortgage from Fannie Mae or Freddie Mac – These loans will examine the

Front DTI and the Back DTI. The Front DTI should be around 28% and the back DTI should be under 43%

If the borrower has a large down payment or significant cash reserves, the back-end DTI may be slightly higher.

FHA Mortgage – For FHA, the front ratio needs to be no higher than 31% and the back ratio should not be higher than 43%

Like Fannie Mae and Freddie Mac above, it is possible to get approved with slightly higher ratios. But the borrower will need to have substantial factors on their side to get approved for the higher ratios.

VA Mortgage – For the VA loan, only one ratio, which is the back ratio, is considered. The back ratio should not be any higher than 41%.

It is worth noting that the VA mortgage guidelines are strict about their DTI ratios. However, the VA home loan also has the lowest percentage of foreclosed homes as well, so there may be a reason why they stick to these rules.

USDA mortgage – USDA will allow borrowers to have up to 29% on their front ratio and 41% on their back ratio.

One final note to keep in mind when you are talking to your lender; some mortgage companies will have their own mortgage overlooks to work with. Your lender can discuss these overlays with you, but it is important to note that each mortgage underwriter may have a handful of special rules to follow when applying for a loan.

Improving Your DTI Ratios

If you are looking over your finances and realize that you have a bit too much debt to qualify for a home, there are some things you can do to lower your debt-to-income ratios and put you in a better financial position.

The easiest solution is to pay off as much debt as you can. The tried-and-true method of starting with the smallest balance and paying it off, then moving to the next largest balance, will help you to pay down your bills and give you some satisfaction during the process.

Another option is to add to your income. This could be something drastic like looking for a better-paying position at a different company but doing the same work you are doing now. Or it could be as simple as working a few hours of overtime per week at your existing job.

You can also add to your monthly income by taking on a 2nd part-time job. Keep in mind, if you get a part-time job and wish to use that revenue in your DTI calculations, you will need to have the job for a couple of years before the lender will consider the income.

A third idea is to add another person to the loan. FHA, along with Fannie Mae and Freddie Mac, have non occupying co-borrower loan options that allow for a borrower to be on the loan if the borrower does not plan to live in the home. Your lender can provide you with the details for the various types of loans and the down payment requirements for each mortgage. 

Keep in mind that cosigner debt counts against you for the debt-to-income ratio calculation.

Summing Up Debt-to-Income Ratios

The calculations for debt-to-income ratios are rather easy to understand. The most important thing is understanding that both the proposed mortgage payment and any existing debt payments will all play a major role in getting approved for a home loan. By either keeping these ratios low now or working to lower the ratios, you will set yourself up for a better chance at getting approved to purchase a home.

Additional Real Estate Resources:
For a first-time home buyer, the above information is critical in knowing how much home you can afford but there is more to it than just the ratios.

Article from Madison Mortgage Guys - www.madisonmortgageguys.com/debt-to-income-ratio/
Written by Luke Skar

]]> <![CDATA[Welcome to Sunriver]]> Welcome to Sunriver
Sunriver Oregon

Sunriver is a planned residential and resort community on 3,300+ acres located in Deschutes County but Sunriver is essentially self-governing.

The Sunriver Owners Association is a not-for-profit organization directed by a nine-member board of directors. SRAO staff provides functions and duties found in any small-town government, such as administrative services, recreational programming, maintaining facilities, 66 miles of roads, 34 miles of pathways and a variety of community amenities for property owners, their guests, and visitors.

The Sunriver Fire and Police departments are part of the tax based Sunriver Service District, a special service district within Deschutes County's Government.

There are 4 types of developments in Sunriver

Residential Areas- There are 4,175 homesites consisting of privately – owned, single family homes and condominium units.

Recreational Facilities – Located on common areas owned/ administered by the Sunriver Owners Association, these facilities include the Sunriver Homeowners Aquatic and Recreation Center (SHARC), North Pool, numerous tennis and pickleball courts, SROA boat launch, Fort Rock Park, Paulina park, Mary McCallum Park and paved pathways for pedestrians and bicycle riders.

Commercial Development – In addition to Sunriver's commercial core, including The Village at Sunriver, there are churches, Sunriver Nature Center & Observatory, Sunriver airport, Sunriver Fitness and Aquatics and the Marketplace/ Grocery Store/ gas station off Cottonwood Road.

Resort Areas – Privately operated resort properties include the lodge complex, the Woodlands and Meadows golf courses, airport, marina, stables, and other resort-affiliated facilities.

Check out what there is to do in and around Sunriver - A Four Season Recreational Community.

]]> <![CDATA[Sunriver Oregon- A Four Season Recreational Community]]> Sunriver Oregon- A Four Season Recreational Community

Sunriver Oregon- A Four Season Recreational Community

About Sunriver Oregon

Sunriver is nestled on 3,300 acres next to the Deschutes River in Central Oregon's High Desert. It is a residential-resort community that featurs year round activities. Below you wfind general descriptions and links as applicable to activities within Sunriver or the surrounding area. A variety of equipment is available for rent from business in in The Village at Sunriver and just outside Sunriver to help you enjoy your favorite sport or activitiy.

Bicycling: 

Sunriver boasts 34 miles of paved pathways for bicycle and pedestrian use. For safety reasons, rollerblading, skates and skateboards are not allowed on pathways or roads. Please follow Sunriver's pathway rules and respect the delicate vegetation by staying on the pavement. Try the Sun Lava 6 mile paved route to reach Benham Falls and Lava Lands Visitors Center off East Cascade Road near Circle 7. 

Boating, Canoeing, Kayaking, Rafting:

Floating or paddling the Deschutes River can be relaxing, scenic and great excercise. Boats, canoes, kayaks, paddle boards, tubes and rafts are available at area rental shops in the Village at Sunriver and just outside Sunriver. There is a public watercraft launch at Harper Bridge, located on the southwest side of Spring River Road and a tke out just before Benham Falls. Or launch further upstream at Big River Campground and take out at Harper Bridge. (the Harper Bridge launch is suitable for ahnd launching canoes, kayakes, tubes, and rafts only)
Village Bike and Ski rentals, 4 Seasons Recreational Outfitters, Sunriver Toy House

Disc Golf: 

Sharc has a disc golf course available free to owners with a valid SROA Member Preference ID card, SROA Recreation Plus cardholders and is included with SHARC daily admission. Disc golf aloine is $5

Fishing:

Anglers can find all the fishing challenges they would like on nearby rivers and lakes. Fishing seasons are variable, so check local regulations. Guided trips can be arranged through local outfitters. 
The Hook , Sunriver Fly Shop

Golf:

Two 18 hole courses - Woodlands and Meadows are operate by Sunriver Resort. 541-593-1000

Horseback Riding:

Sunriver Resort's stables offers scenic trail rides. the stables are located along River Road in Sunriver. 541-593-6995

Nature Center and Observatory:

The Sunriver Nature Center & Oregon Observatory is a nonprofit scientific and educational organization. It includes interpretive exhibits, educational programs, a botanical garden, nature trail, observagtory, live raptros and other critters. The observatory offers seasonal night sky and solar viewing. 

Newberry National Volcaninc Monument:

Sunriver sites in the middle of the Newberry National Volcanic Monument, which includes Lava Lands Visitor Center on Lava Butte, Lava River Cave, Lava Cast Forest and the Newberry craters a Paulina and East Lakes. 

Parks and Playgrounds:

Fort Rock Park is located between circles 4 and 11 on East Cascade Road and provides recreatinal facilities for softball, basketball, volleyball and horseshoes. There is also a playground, pickleball an dtennis coures. A pavillion is available for picnic/ barbecue events. 

Paulina Park is located at SHARC. Featuyres picnic tables, grassy area, bocce ball court, rock climbing wall and restrooms. A picnic pavillion is available for rent. Reservations are required. 541-585-3144

Mary McCallum Park is located on the river adjacent to the Marina. This park is restricted to use by Sunriver property owners only. It offers picnic tables, barbecues and a small covered pavillion. For reservations, contact the SROA office Monthday through Friday at 541-593-2411

Pool/ Swimming:

The Sunriver Owners Association owns/ operates the SHARC aquatics facility and North Pool. SHARC includes indoor/ outdoor pools, lazy river, water slides, events center, outdoor amphitheater, park and winter tubing hill. The North Pool is only available to owners and open through the summer months.

Tennis- Pickleball:

SROA owns and maintains 24 outdoor tennis and 6 picleball courts. Equipment rentals are avaiable at Tennis Hill at Fort Rock Park, Memorial Day through Labor Day.

The Village At Sunriver:

The Village features shopping, dingin, seasonal ice skating, bumper cars, bounce house playgrounds, mini golf, events and more.

Winter Fun:

There is ice skating in the the Village, tubing at SHARC and miles of pathways for crosscountry skiing and snowshoeing.

Skiing, Snowboarding, Sledding:

Some of the finest downhill skiing around is available just 30 minutes away at Mt. Bachelor. Equipment rentals and Snow Park permits are available at various locations in the Village. 

]]> <![CDATA[Sunriver Oregon Fun Facts]]> Fun Facts about Sunriver, Oregon

Did you know?

1. The anme Sunriver was selected by developers John Gray and Donatld V. MCallum in 1968

2. Sunriver is located on the grounds of the former Camp Abbot, a World War II training facility designed to rain combat engineers in a simulated combat environment. The U.S. Army camp opened in 1942, but by June 1944, the camp was abondoned and most of the settlement was razed.

3. Sunriver was also the site of the pioneer Shonquest Ranch. Sunriver post office was established on Jyly 18, 1969, at the same time the public facilities were opened.

4. All of Oregon has NO sales tax.

5. Oreogn is one of the only two states where you can't pump your own gas (New Jersey being the other)

6. Permanent population of approximately 1,700 though during high peak season it may increase to upwards of 20,000

7. This region experiences warm (but not hot) and dry summers, with no average monthly temperatures above 71.6 degrees F. According to the Koppen Climate Classification system, Sunriver has a warm-summer Mediterranean climate, abbreviated "Csb" on climate maps.

8. Sunriver airport is a public use airport located one nautical mile (2 km) west of the central business district of Sunriver. It is privately owned by Sunriver Resort, L.P. This airport is included in the national Plan of integrated Airport Systems for 2011-2015, which categorized it as a genearal aviation facility.

9. We have an Observatory which is an astronomical observatory operated by the not-for-profit Sunriver Nature Center & Observatory in Sunriver, Oregon. The observatory has 11 telescopes. In July 2012, the observatory was renamed the Oregon Observatory at Sunriver.

10. Elevation is at 4,164 ft

11. Sunriver has over 35 miles of paved bike paths.

12. Average commute time in 32 minutes. The National Average is 25 minutes to Bend.

]]> <![CDATA[12 Facts To Learn About Sunriver Oregon]]> 12 Facts To Learn About Sunriver Oregon

Sunriver Oregon

Did You Know?

  1. The name Sunriver was selected by develpers John Gray and Donald V. MCallum in 1968.

     2. Sunriver is located on the grounds of the former Camp Abbot, a World War II training facility designed to train combat engineers in a simulated combat environment. The U.S. Army camp opened in 1942, but by June 1944, the camp was abandoned and most of the settlement was razed.

      3. Sunriver was also the site of the pioneer Shonquest Ranch,  Sunriver post office was established on July 18, 1969, at the same time the public facilities were opened.

       4. Sunriver and all of Oregon has no sales tax.

       5. Oreogn is one of the only two states where you can't pump your own gas (New Jersey being the other).

       6. Permanent population of approximately 1,700 though during high peak season it may increase to upwaards of 20,000.

       7. This region experiences warm (but not hot) and dry summers, with no average monthly temperatures abouve 80 degrees F. According to the Koppen Climate Classification system, Sunriver has a warm-summer Mediterranean climate, abbreviated "Csb" on climate maps.

       8. Sunriver airport is a public use airport located one nautical mile (2 km) west of the central businesss district of Sunriver. It is a privately owned by Sunriver Resort, LP. this airport is included in the National Plan of Integrated Airport Systems for 2011-2015, which catergorized it as a general aviation facility.

       9. Sunriver Observatory is an astronomical observatory operated by the not-for-profit Sunriver Nature Center &Observatory in Sunriver, Oregon. the observatory has 11 telescopes. In July 2012, the observatory was renamed the Oregon Observatory at Sunriver.

       10. Sunriver's elevaton is at 4,164 ft (1,269.2m.)

       11. Sunriver has over 35 miles of paved bike paths.

       12. Average commute time is 32 minutes. the Ntional Average is 25 minutes in Bend.

]]> <![CDATA[Why is now the best time to sell your Sunriver home?]]> Why is NOW the BEST Time to Sell Your Sunriver Home?

Best time to sell your Sunriver home

If you are thinking of selling your Sunriver home now is the time. This is one of the strongest sellers real estate markets we have ever seen in Sunriver, there is huge financial gains to sellers cashing in on the rising equities in their homes. So why is today any different than other times of being told it was a great time to sell?

The speed of today's real estate market is causing buyers to write offers sight unseen, to offer thousands of dollars above list price, to waive contract contingencies like appraisals and inspections, and to woo the seller in creative and unique ways. That is why if you are thinking at all about selling, the tremendously low inventory of homes for sale right now, along with the huge buyer demand and cash buyers, is pushing up home prices to offer opportunities for home seller's.

What is driving the current seller's real estate market?

A seller's market means that there are more buyers than there is inventory, pushing the price of real estate up.

The real estate market measures "inventory" in terms of time on the market by comparing the ratio of active listings to pending sales as of the end of the month. This ratio gives us a turnover calculation, showing how long it will take for the current inventory of homes to sell. A real estate market is deemed to be a sellers' market when there is less than 5 months of inventory.

We can't predict how long this market will continue, if you are thinking of selling your home, don't wait and miss out on the market opportunity to sell for top dollar.

What is driving this seller's market?

Increased home buyer demand due to historically low interest rates, increased demand from buyers due to economical circumstances, and low invnetory of homes pushing sales prices higher and higher.

If you would like to know what your home is worth in today's market just enter your address here on my website or call or text me at 541-815-0906 or keith@isellsunriver.com.

]]> <![CDATA[Sunriver Real Estate Market Update February 2020]]> Sunriver Real Estate Market Update February 2020

Wed Feb 24 2021
This week the median list price for Sunriver, OR 97707 is $1,175,000 with the market action index hovering around 77. This is an increase over last month's market action index of 75. Inventory has held steady at or around 6. Click here to stay informed with the Sunriver market!

Market Action Index

This answers "How's the Market?" by comparing rate of sales versus inventory.

Sunriver-Real-Estate-market-update-February-2020

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller's Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real Estate Market Profile Sunriver

If you would like to know about what the Sunriver real estate market is doing give me a call at 541-815-0906 or email at keith@isellsunriver.com

See the real estate market report for last month here.

Search all homes for sale in Central Oregon at www.isellsunriver.com

Information provided by First American Title.

]]> <![CDATA[Top Ten Sunriver Summer Activities]]> Top Ten Sunriver Summer Activities
Sunriver Summer Fun

Sunriver Oregon is a place for families with something for everyone to do and enjoy regardless of age. It is a place where you can get away from a busy schedule, spend quality family time and reflect on what is important. If you are a Sunriver visitor, you can enjoy the same amenities that lured homeowners to this special place. Below are the top ten summer activities that you and your family might enjoy in and around Sunriver.

  1. Sunriver Paved Bike Paths 

    offer 34 miles of paved adventure awaits. The favored vehicle for getting around in Sunriver is a bicycle. Most vacation homes come stocked with cruisers or three speeds, some even include smaller bikes for kids. If you come to Sunriver you can rent everything from tandems to tag-along trailers at four area bike rental shops in Sunriver.

               Village Bike & Ski
               4 Seasons Recreational Outfitters
               Sunriver Resort Bike Barn
               Sunriver Sports

               For the safety of all riders & pedestrians enjoy the paved pathway but keep the rules in mind.

                 

  1. Sunriver Homeowners Aquatic & Recreation Center (SHARC)

    is a year-round aquatic, outdoor aquatics are open from Memorial Day through September. The SHARC center available to day visitors as well as Sunriver vacationers. The facility features indoor lap pool, whirlpool, kids play pool, hot tub, outdoor pool, lazy river, two water slides, event space, outdoor basketball court, disc golf, winter tubing hill, Paulina park, and disk golf.

  2. The Village at Sunriver

    offers something for everyone, coffee & pastries, craft beer, great restaurants, boutique shopping, art gallery, outdoor recreation rentals, family entertainment, events and much more! The Village at Sunriver is an outdoor open-air mall nestled among the pine trees. Many local family-owned businesses have called Village at Sunriver home since 1974.

  3. Sunriver Marina

    Floating the Big Deschutes River in the summer is so refreshing and relaxing. There are several rental companies in the area that will rent floating devices

  4. Sunriver Nature Center and Observatory

    explore nature and seek the stars all in one place. A visit to Sunriver is not complete without a stop here.

 

  1. High Desert Museum

    is a unique museum full of natural world and cultural history of the West's High Desert region through artful exhibits, alluring animals, engaging programs, and meaningful history. The museum is located just 10 minutes north of Sunriver on Highway 97.

  2. Lava Caves

    is a-mile-long lava tube that is self-guided and takes about 1.5 hours to tour the entire cave.

  3. Sunriver Stables

    is the perfect place to saddle up for adventure. Enjoy guided trail rides, lessons, and pony rides for ages 2-6.

  4. Sunriver Resort Golf Courses

    are a golfer's paradise, Sunriver golf courses are the ideal choice for a golf vacation. Sunriver offers 63 holes of the best golf in the west, these courses are challenging enough for golfers of all skill levels.

  5. Sage Springs Spa in Sunriver  

    is a full-service spa with many services.

Being a Sunriver home owner does have it's advantages, see what the Benefits fo Being a Sunriver Home Owner would be.

]]> <![CDATA[The Benefits of Double Pane Windows]]> The Benefits of Double-Pane Windows

You are curled up on the couch in your living room on a cold day, and suddenly feel a draft that makes the hair on your neck stand up. The window is not open, but it's allowing heat to escape and letting the cool air in.

The Department of Energy reports that approximately 25% to 30% of energy loss for the average American household can be attributed to the inefficiency of single-pane windows. By simply replacing them with double-pane windows, you could prevent 50% of that warm or cool air from escaping through the windows. In turn, you could slash your energy bills by up to 20–30% each year. 

But that's just one potential benefit from switching out a single pane of glass for double-pane windows. Let's take a look at what a double-pane window is, what makes it a superior option, and how your household could benefit from this change.

What Is a Double-Pane Window?

The main difference between single- and double-pane windows is their structure. A single-pane window only has one layer of glass and is not an efficient insulator during extreme seasons. A double-pane window, on the other hand, has two layers of glass with air between the sheets for maximum insulation. Some double-pane window designs may even have argon between the layers. Argon is an invisible gas that optimizes thermal efficiency and reduces heat transfer. 

Benefits of Upgrading to Double Panes

Affordability

Today, over 118 million American homes have double- or even triple-pane windows. This accounts for nearly 60% of all U.S. homes — but this means that 40% of homes still rely on old window technology.  While many people opt for single-pane windows for the low initial price point, these types of windows will cause the homeowner to spend much more on utilities in the long term than if double-pane windows were installed.

Environmentally Friendly

The Energy Information Administration stated that, in 2012, homes comprised of a fifth of primary energy consumption in the U.S. and were responsible for approximately 20% of nationwide CO2 release. If a greater number of American homeowners made a concerted effort to switch to double-pane windows, this energy consumption could be reduced.

No matter what type of heat source you use to warm your home (i.e. a fireplace, a gas furnace, or an electric central heating system), double-pane windows limit the need for heating sources to be used as often. When you don't use as much heat, you burn fewer fossil fuels and lessen your CO2 greenhouse gas emissions — and therefore, reduce your carbon footprint. Upgrading to double-pane windows is a way to contribute to helping the planet. 

Improved Security

Unlike single-pane windows, double-pane windows feature a more substantial locking mechanism and their tight seal prevents intruders from breaking the structure to get into your house. Double-pane windows are also stronger and do not shatter easily when struck. Your home is more secure with double-pane windows. 

Reduced Noise
the benefits of double pane windows

Whether you have noisy next-door neighbors or you live on a busy street with lots of traffic, excessive noise can take a toll on your sanity. Ambient noise can only do so much to cover up the sound of the incessant honking, loud music, and heavy-duty vehicles passing by. Switching to double-pane windows can help you enjoy a quieter and more peaceful home. The two layers of glass offer insulation from the outside world so that you and your family can relax without the constant ruckus. 

Less Condensation

Window condensation during the cold months might not appear to be a big deal, but a buildup of moisture is indicative of a bigger problem. It shows how inefficient the windows are at preventing heat transfer, and it can lead to problems with mold over time. With double-pane windows, you can consider your condensation problem solved. 

Added Home Value

In spending a little up front to upgrade your windows, you add value to your property. If you decide to move in the future, double-pane windows are a drawcard for potential buyers, and you'll see a return on your investment once it has sold. 

Newer Style Options

Upgrading to energy-efficient windows has a positive effect on your house's aesthetics. Window technology has come a long way — and so has window design. Double-paned windows come in a variety of styles, including the sliding window, or double-hung window. Double-pane windows are worth the expense when you consider that the windows are known as the "eyes of your house." Updating windows to a newer style has a great impact on your curb appeal.

Choosing the Right Double-Pane Windows for Your Home

Before choosing double-pane windows for your home, it's important to know your options. Double-pane windows come in all sorts of styles, materials, and designs. And because each house is different, your window selection may be different, too. 

Most window companies have several materials for you to choose from: vinyl, aluminum, wood, clad wood, and fiberglass. All of these materials are available in various styles, including the following: 

  • Double-hung: Double-hung windows can move both up and down because both window frame sashes are operable.
  • Single-hung: Single-hung windows are similar to double-hung. The only difference is that one of the sashes is operable, while the other is fixed. 
  • Casement: Casement windows have a traditional charm. Many are operated with a crank and swing outward for a clear view. 
  • Awning windows: Awning windows operate on a hinge, allowing them to open at an angle, which provides both ventilation and rain protection. 
  • Picture windows: These windows are fixed and cannot open. They are ideal for large spaces, and let in lots of natural light. 

Make an Informed Decision. Explore Your Options Today.

Double-pane windows are a cost-effective visual enhancement to your house and a primary way to reduce household energy costs. Explore your options today by speaking to a qualified window professional in your area.

 Information has been provided by mymove.com. Read the full article here 

]]> <![CDATA[Buying A Home]]> Buying A Home
Buying a home

The purchase of a home may be the biggest investment you ever make - one that First American wants to help you protect. Whether you're just starting to look at listings or you've already signed a purchase agreement for your dream home, we can help walk you through the home purchase process - and then help you keep your home protected.

Should I Buy?

Your specific reasons for buying a home will always be unique, but common factors to consider before deciding to purchase a home include:

How Do I Prepare?

When you do find your perfect home, you may need to act quickly. That's why it's a good idea to make sure you have all your financial arrangements in order beforehand.

Before you start shopping, it's a good idea to:

  • Set a budget (a mortgage broker can help with this)
  • Plan for a down payment (typically between 10 and 20 percent of the asking price)
  • Get copies of your current credit report
  • Become an optimal credit candidate
  • Get preapproved for a mortgage

Who Can Help Me?

Purchasing a home may be the largest financial expenditure you make in your lifetime. For this reason, you may want assistance in navigating the real estate market and home-buying process. Hiring a real estate agent or broker can be a big help. A real estate agent can help you by:

  • Finding budget- and location-appropriate listings
  • Arranging viewings
  • Communicating and negotiating with sellers
  • Locating off-market listings
  • Keeping the transaction moving
  • Offering advice

How Do I Make An Offer?

When you are ready to make an offer, you and your real estate agent will need to draw up a contract with the applicable information. Your real estate agent will then present this offer to the sellers (or sellers' real estate agent). The sellers may accept, decline or counter the offer.

Your offer might include:

  • Sale price/offered price
  • Street address and a description of the surrounding land
  • Sale terms (cash purchase, mortgage financing, etc.)
  • Seller's written intent to transfer title (ownership)
  • The date the property will change hands
  • Any agreements on the prorating of utility bills
  • Payment of title insurance and home inspections
  • Deed details
  • State-specific required clauses (consult your real estate agent or broker for these)
  • Offer timetable and expiration date
  • Contingency plans that will come into effect as the result of a canceled/defaulted sale

What Are My Next Steps?

After a deal is accepted, everything that has been contractually agreed upon gets set in motion. The time between the offer acceptance and the closing of the transaction is known as "escrow." Depending on your geographic area, this process may differ, but will likely include third-party handling of transaction documents and funds.

Depending on negotiations, you might have to deposit money into an escrow account. The homeowner may then begin construction on any improvements/renovations required by inspections or the purchase contract, and you'll need to get your financial paperwork in order (including preapprovals, letters of intent and offer contract). All parties involved in the transaction will determine a tentative closing date, when the transaction should be finalized and you are scheduled to receive the keys to your new home.

After all the paperwork is signed, it's almost time to move in. If you think that a final inspection is necessary, be sure to include this in the language of the final contract; technically, you are entitled to as many walkthroughs as you want to determine if the sellers completed all agreed-upon repairs

To get more information about the First American Title can help go to there website at Firstam.com

All information has been provided by First American Title.... read the full article here

]]> <![CDATA[Proposed Changes To Estate Tax and Stepped-Up Basis Rule]]> Proposed Changes To Estate Tax and Stepped-Up Basis Rule

Biden's administration may spell changes to estate tax and stepped-up basis rule. Along with a new administration comes tax code changes.

Proposed Changes to Estate Tax and Stepped-Up Basis Rule

While it remains unclear exactly what tax changes President Biden's administration will usher in, two possibilities are that he will propose lowering the estate tax exemption and eliminating the stepped-up basis on death. The first would affect only multi-millionaires, but the second could have an impact on more modest estates and their heirs. 

In 2017, Republicans in Congress and President Trump doubled the federal estate tax exemption and indexed it for inflation. For the 2020 tax year, the exemption is $11.58 million for individuals and $23.16 million for couples. As long as your estate is valued at under the exemption amount, it will not pay any federal estate taxes, and the vast majority of estates do not owe any tax. President Biden has expressed an interest in lowering the estate tax exemption. It could be halved to $5 million or even reduced to the previous exemption of $3.5 million for individuals. 

Another possible tax change is to how property is valued when it is passed on at death. "Cost basis" is the monetary value of an item for tax purposes. When determining whether a capital gains tax is owed on property, the basis is used to determine whether an asset has increased or decreased in value. For example, if you purchase a stock for $10,000, that is the cost basis. If you later sell it for $50,000, you will have to pay taxes on the $40,000 increase in value. 

Under current law, when a property owner dies, the cost basis of the property is "stepped up." This means the current value of the property becomes the basis. For example, suppose you inherit a house that was purchased years ago for $50,000 and it is now worth $250,000. You will receive a step up from the original cost basis from $50,000 to $250,000. If you sell the property right away, you will not owe any capital gains taxes.

According to an article in the New York Times, the current administration may propose to eliminate the basis step-up rule. In the past it was difficult to determine the original cost basis of some property, but in the digital age that information is more easily gathered. The change could result in tax increases for some people inheriting property that has risen significantly in value. 

Another question is whether either of these changes will be made retroactively. It is unlikely, but possible, that if Congress changes these rules later in the year, they could be made retroactive to the first of the year. 

If you are concerned about these rules changing, a trust may be a good way to protect your estate. Property in a trust passes outside of probate, and there are specific types of trusts that are designed to protect assets against estate taxes and capital gains. Talk to your attorney to determine if a trust is right for you. 

Tax experts agree that while changes to the tax code are likely, they probably will not happen right away. The coronavirus pandemic and the recession it has triggered mean that Congress has other priorities now. 

View the full article at www.elderlawanswers.com

]]> <![CDATA[Real Estate Market Update for Three Rivers South-Sunriver-Zip 97707]]> Real Estate Market Update for Three Rivers South-Sunriver-Zip 97707

This week the median list price for Three Rivers South/ Sunriver (97707) is $1,050 with the real estate market action index hovering around 72. This is an increase over last month's real estate market condition. Inventory at record lows.

Real-estate-market-update-three-rivers-south-sunriver-97707

You ask "How's the market?"
By comparing rate of sales versus inventory we see the market continues to get hotter. More sales demand and fewer homes listed for sale have contributed to a relatively long run of increasing prices. The current supply and demand levels show no sign of prices changing from their current trend.

Inventory in Sunriver as of today is 2 with one land listing and in Three Rivers South there is only 1 single family resident and one single family resident listed for sale in Crosswater.

Land listings are also at a record low for inventory, there are only 15 including 2 in Caldera Springs.

If you have any questions about what the real estate market I would love to speak to you.

Information was provided by First American Title in Sunriver/ Bend Oregon. If you would like to see the full real estate report you can go directly to the site.

]]> <![CDATA[Choosing The Right Statement Piece For Your Home]]> Choosing the Right Statement Piece For Your Home

Every room needs a focal point, whether it's a work of art, a piece of furniture, a light fixture or an eye-catching rug. A statement piece adds visual interest and pulls the space together — and interior designers usually recommend one.

Choosing the Right Statement Piece

Do you want to make sure your living area, bedroom or elsewhere features an attention-getting piece, but not sure where to start?

Here's how you can find the right focal point for your space:

  1. Determine the room's best feature. Whether you have a living area with vaulted ceilings, a dining room with large windows or a bedroom with crown molding, you can use your statement piece to highlight this area.


  2. Understand the scale. Take your room's full size into account. Don't choose a small rug for a huge space or an oversized console table for an entryway. Here is a site with a simple formula for choosing the right size art for your wall.


  3. Decide if you want to go big or subtle. You could do one large statement piece in the center of the room or multiple smaller ones here and there. Consider a large mirror on an accent wall or a pair of striking vases on either side of a fireplace. This will depend on your taste as well as the size and shape of the space. The right size accent rugs are very important as well, you never want to skimp on the size or it will make your room look smaller...


  4. Choose a theme or mix-and-match. Is a single color palette, pattern or material your style? Or would you prefer to blend several looks for something more eclectic?  Whether you're a minimalist or not will probably help you make this decision.


  5. Know your timeline. Maybe you plan to change your statement piece every so often, or perhaps you want something that will be there for the long haul. You may want to choose more subtle, timeless pieces if you plan to keep them for a while.

If you're ready for a new place to design and decorate or need help with getting your place ready to sell, get in touch today for help with your real estate needs.

]]> <![CDATA[Screen Time and Insomnia]]> Screen Time and Insomnia: What Does It Mean For Teens?

For teenagers, sleep plays a critical role in staying healthy, feeling happy, maintaining good grades, and doing well in sports. But sleep doesn't come easily for some teens. For those who struggle, it's important to look at their electronic use. An increased amount of screen time throughout the day has been linked to insomnia and symptoms of depression in adolescents. This can include social messaging, web surfing, watching TV, and gaming, in addition to using the internet for schoolwork. The presence of electronic devices in teenagers' lives isn't going anywhere, anytime soon, so it's important to understand its effects on sleep and how to find a better balance.

The Blue Light Effect

Electronic devices emit an artificial blue light that can suppress the release of the body's sleep-inducing hormone, melatonin. In turn, this can interfere with the body's natural internal clock that signals when it's time to sleep and wake up. The more time teens spend in front of an electronic device, especially in the evening, the greater the delay in the release of melatonin, making sleep a challenge. They may experience problems falling asleep as well as difficulty staying asleep. As a result, these teens sleep fewer overall hours; over time, that sleep deprivation can lead to symptoms of depression.

Getting Back on Track

Limiting overall daily screen time can help improve sleep issues, but most importantly, restricting use right before bed can play a key role in helping teens fall asleep faster and improve sleep quality. Consider setting a digital curfew one to two hours before bedtime (the earlier, the better). Create a sleep-positive bedroom environment by encouraging teens to read before bed rather than texting to wind down. Some parents institute a tech-free bedroom policy—no TV, computer, or smart phone allowed in the sleeping space, at least during the night.

There are many benefits to today's tech-driven world: Access to more information, the ability to connect with others in an emergency, and a chance to make friends with new people in new places. Managing the amount of time adolescents spend plugged into their electronic devices helps give them the benefits without as many drawbacks, especially when it comes to sleep.

Article posted by SleepFoundation.org

 

]]> <![CDATA[Winter Home Projects You Can Do During the Pandemic]]> Winter Home Projects You Can Do During the Pandemic

Winter Home Improvement Projects

After months of living through COVID-19, your to-do list may have gotten much shorter. But now that we're in the midst of winter and are continuing to stay at home, what are some good winter DIY home projects to tackle?

Home improvement projects

Let's start with some home improvement ideas for winter. If you read about fall DIY projects, you may have already tackled painting your kitchen cabinets and accent walls and changed your lighting fixtures. If so, congratulations on that achievement! Now, let's look at some other home improvement projects you can tackle.

Give a fresh coat to your interior trim

After painting accent walls, you may have noticed you also need to add a new coat of paint to the molding around your floors, ceilings, windows and doors. All you will need to get starting is paing and some paint supplies.

Repair your door and window screens

It may be cold now and your are not opening your doors and windows but come spring you will want to and you won't want pesky bugs getting in your house through holes and tears in your screens. This is a great winter home improvement project because you can bring the screens into your garage or basemnet to repair them in the off season. If you want to replace the entire screen you will need screen spline and rolling tool. You can buy these individually or pick up a complete screen replacement kit. If you have a small hole that just needs patched, you could use screen tape or pre-cut patches. A great place to buy these items is at our local hardware store in Sunriver, Camp Abbot Trading Co. 

Organize your garage

After spending time in your garage, you may realize you don't have much space with tools and sports gear everywhere. You can solve this issue with a few a garage organization measures. Get you garden tools out of the way with a wall mounted rack. A bike storage rack will get your bikes off the floor since you probably won't be riding them this winter. Add some hooks to store other things on the wall. A sports rack can keep all your balls, bats, gloves and rackets in one easy to find place. Stackable storage containers are great for all the other miscellaneous items you keep in the garage.

Organize your closet

Now that you've finished your garage, you're ready to move on to your closet . Even if you have a small closet or no closet at all, these tips are for you.

You can choose a closet organization system  or select the pieces you need on your own. You may want to include space-saving collapsible hangers  that let you hang four or five items in the same space as one regular hanger. Or, you could use an adjustable hanging rod , which gives you a two-tier system, doubling the number of clothes you can hang in the same space. Hanging shelves with drawers give you a great deal of flexibility, while a hanging shoe organizer will free up a lot of space on your floor.

Get your kitchen in order

organize your homes kitchen drawers

If you're ready for more organizing, move on to the kitchen to find ways to create more space and make it easier to find the things you need. Arrange your silverware and cutlery with an expandable drawer organizer that will work in most drawers, narrow or wide. If your cans are always in the far reaches of your pantry, make them easier to find with a stackable can rack organizer. Take advantage of more space in your corner cabinet with a lazy susan. Keep your flour, sugar and other food fresh in stackable airtight food containers. With a pot rack organizer, you'll always be able to find the pot and lid you need without digging through your cupboard, while an over the door rack can be used for both spices and cans to save space in your pantry.

Rejuvenate your bathroom

Ready for a new look for your bathroom? This may be a great time to spruce this room up with a new shower curtain, mat, and towels. Dress up your countertop with a new soap dispenser kit. Top it off by replacing your sink faucet and tub and shower kit.

Freshen up your door and drawer hardware

You may not want to spring for new doors throughout your house or new cabinets, but you can give both a fresh, new look by replacing the door handles and cabinet knobs.

Hopefully this give you few ideas to spruce up your home before spring comes.

Article from move.com and written By: Laurie Garrison 

]]> <![CDATA[5 Considerations for Buying a Home Right Now]]> 5 Considerations for Buying Right Now

 5 Considerations for Buying a Home Right Now

If you were looking at homes in late fall but halted your plans, you should know that you do not have to delay your home purchase. Though the process may look slightly different now, buying a home is still very much possible in today's market.

So, if you are still looking to buy that dream house or second home soon, don't be afraid to move forward with it, as long as it aligns with your personal goal plan.

Keep these five things in mind:

  • Use tech to your advantage. Be sure to leverage video tours, 3D floor plans and interactive walk-throughs when searching for your house. Reach out if you need more online resources for a property.


  • Choose your vendors carefully. We can work together to ensure that you have a highly experienced lender and real estate broker. This is particularly important if you require a jumbo loan.


  • Keep safety top of mind. Your health and safety are always a top priority. If we meet in person for a showing, you will be advised on safety measures beforehand.


  • Understand how services might proceed. Your appraisal may be done mostly online. You will also probably meet with your home inspector via phone or video call to go over your report plus there might be limited people allowed at the inspection.


  • Know the market. The housing market may fluctuate, but your situation is what is most important. We will review current conditions, so you know you're making informed decisions that are right for you.

Do not let circumstances keep you from investing in your future. If you do decide to move forward with your home purchase I would love to help!

]]> <![CDATA[How To Read Your Deschutes County Property Tax Statement]]> Property Tax Collection – How To Read Your Deschutes County Property Tax Statement
Deschutes County Property Taxes


What color is your tax statement?

Green statements indicates that no lender has requested information and the property owner is responsible for paying the bill.

A yellow statement indicates one of the two things:

The property owner is receiving a Senior or Disabled Tax Deferral in which the Oregon Department of Revenue will pay all or part of the property tax.

Or our records indicate a lender has requested your information and will be making your payment.

Taxpayers are urged to check with their mortgage company if they believe their current arrangement is not reflected by the color of the tax statement. This has been an area of confusion in the past years.

Important dates to consider:

  • Late payments lose the discount, and the tax begins accruing interest after the due date.
  • In Oregon, property is valued each year as of January 1.
  • The fiscal tax year runs from July 1 through June 30.
  • Property taxes are mailed no later than October 25 and payment is due November 15.  The dates at the top of your statement reflect the fiscal tax year for the property taxes imposed.

Roll type: The property "roll type" is printed at the top of the statement. You will see one of the following descriptions: "Real Property", "Manufactured Structure", "Utility", or "Personal Property". 

Property Description: Identifies certain characteristics of your property (when applicable) by:

  • Code:  Tax levy code that defines the list of taxing districts for your property.
  • Map:  Represents the location of your property by township, range, section and tax lot as per the Assessors' Maps.
  • Legal:  Some properties may be identified by their legal description if it is a lot and block in a subdivision.
  • Situs: The physical address of the property
  • Account No:  Property Tax Account number. 

Current tax year detail:
Your tax statement shows the taxes collected for each of the districts in which your property is located. Each district collects a permanent tax rate for ongoing services, plus any additional taxes that may be approved by the voters.  These taxes are shown on your statement as Local Option Levies (LOL) or Bond Levies.

  • A. Educational Taxes:  Assessed for Central Oregon Community College, your property's Educational Service District and K-12 school district.
  • B. General Government Taxes: Paid to cities, regional government, county and special districts (water, sewer, fire, etc).
  • C. Bond Taxes: Finance capital improvements such as school buildings, parks, or public works projects that have been authorized by voters.

Values:

  • Real Market Value (RMV) is the amount in cash that could reasonably be expected to be paid by an informed buyer to an informed seller.
  • Assessed Value (AV) is the total (combined land and structures) amount of value used to impose property taxes. If you are currently receiving a Veteran's Exemption, it will be noted in this section.
  • Delinquent Taxes Any prior year's tax remaining unpaid will be listed just above your current year total tax due on the front, right hand side of the statement. Delinquent amounts that will be subject to foreclosure, if not paid by May 15 the following year, will be indicated with an asterisk (*). Payments will be applied to the oldest tax year first.

An informational flyer is included with each tax statement to be used as a guide for a better understanding of the property tax statement, payment options, and other programs associated with the Oregon Property Tax System.

Appeals, delinquency, foreclosure you can learn more here  

Still have questions? Check out Deschutes County's frequently asked questions page.

 

 

 

 

]]> <![CDATA[Real Estate Market Update January 2020]]> Real Estate Market Update January 2020

In this Beacon report you will see information about the housing market from 1997-2020. Median sales price trends in Bend and well as Sunriver and La Pine, Oregon.

the Central Oregon real estate market has experienced a significant decline in the level of inventory this last quarter. The median single family residence sale price in Bend declined for the second consecutive month as the number of sales was nearly unchanged from November and December. Inventory declined to .3 months supply.

    

Redmond single family residential real estate market median sales price was $375k in December and had an increase in the number of sales when compared to November. The inventory in Redmond remains less than half month suppply.

Sunriver's single family residential real estate market median sales price was $635k with an average of 4 days on the market. Current Sunriver inventory is .2 months.

   

La Pine's single family residential median sales price  was $325k with 17 days on market and a current inventory of .3 months.

With interest still being at record lows buyers are stacked up waiting to purchase properties as soon as they come on the market. If you are looking to sell a property now is a great time.

If you have any questions about the Central Oregon real estate market give me a call! 541-815-0906

View the whole report here

This information is from our MLS system, it is deemed liable but not guaranteed and is subject to change.

]]> <![CDATA[Could we see a flurry of foreclosures in 2021?]]> Could we see a flurry of foreclosures in 2021?
Although there is more demand for housing, there is also a higher risk of losing it, and many economic signs point to a rocky road ahead. Here's why this housing boom won't last.

That's what we're seeing in the housing market right now. Not only will this housing boom not last, there may be a reckoning in about a year.

Real estate is up

When the economy first shut down, many were hoping for a V-shaped recovery, but as more time passed, it became clear that was not a likely outcome. One hallmark of this downturn, however, is that the economic effects are not uniform, with geographic and industry-specific micro-recessions and micro-recoveries punctuating a staggered downturn.

Within this context, the housing market has seen a V-shaped recovery. There was the initial plunge, of course, but over the last couple of months, we've seen strong consumer demand for new homes.

Housing sales are at a 13-year high, and home prices are up 7.2 percent from last year. Google searches show a 50 percent year-over-year increase in home improvement searches and a 30 percent year-over-year increase in homes for sale searches.

Some of this can be explained by how society is reorganizing itself in the face of a pervasive pandemic. As work-from-home asserts itself as a long-term reality, consumers look toward home improvement to accommodate the new lifestyle. Many people are also fleeing high-density urban areas in favor of the suburbs or rural areas.

Homeowners/renters are vulnerable 

According to a recent survey, most renters and homeowners could not pay more than a month's rent or mortgage payment if they were to lose their job. Part of the government programs protecting consumers was delayed payments, or forbearance, which renters and homeowners will be responsible for paying back in the coming months.

One in every 12 mortgages is now past due, a delinquency rate that has not been seen in years. As of August, 90 percent of renters are paying rent, as opposed to 92.1 percent in August of last year — not a huge drop but still a signal that all is not well for tenants.

Jobless claims rose back above one million this summer. The stimulus package that protected unemployed Americans elapsed, and many were using this added stimulus to pay their rents and mortgages.

While the president has issued an executive order, it's a reduced payment that some states are unwilling to contribute to. Any signs of weakness from rent and mortgage payers this summer will become more apparent in the coming weeks, as bills continue to be due but the extra stimulus and unemployment benefits are not there to cover.  

Simultaneous rise and fall

The demand for new homes is causing strong optimism from homebuilders, as seen by the recent record high in the NAHB/Wells Fargo Housing Market Index. Meanwhile, consumer confidence is down as of August.

While demand for new homes appears strong, many may be under appreciating the financial vulnerability of those residing in existing homes. This appears to be a recipe for continued building while people continue to lose jobs in a volatile marketplace. In other words, there is a simultaneous bullish housing market as well as signs of a bear market in the coming year.

When you consider all of these factors together, you start to see some similarities to the housing crisis of 2008, most likely not in severity but in structure — that is, a boom cycle followed by a bust.

Another aggressive stimulus could alleviate some of these concerns, but the reality is that there are many to-be-determined economic factors. All the while, the presidential election, which historically has weakened consumer confidence in the months leading up to it, looms large. Housing looks good now, but proceed with some caution heading into 2021.

Andrew Duguay is the chief economist at Prevedere, an industry insights and predictive analytics company, in Boston. Connect with him on LinkedIn or Twitter. 

]]> <![CDATA[Is The Highest Bid The Best Bid?]]> Is the highest bid the best bid?

An offer on your home moves you one step closer to the finish line in the selling process. And if you're lucky, you'll receive multiple offers from a range of bidders. 

The highest bid is the obvious choice, right? Not necessarily. Here's what to consider before moving forward on an offer:

Focus on your priorities. Take this step early, before any offers roll in. Make a list of what's most important to you in the sale of your home, like a tight moving deadline or your financial needs. Are there any requests that would make an offer a deal breaker for you? 

Review the contingencies. Now that you've established your top priorities, determine your bidders' conditions for the sale. Common contingencies for potential buyers include a property appraisal and a home inspection. 

Compare earnest money amounts. People who are interested in purchasing your home need to show you that their offer is made in good faith. An earnest money deposit proves the buyer is serious about the transaction. The more money they put into the deposit, the more likely they are to be able to back it up with financing.

Be aware of unusual requests. A bidder could ask you to make unnecessary repairs or leave all your appliances in the home for them. Their offer might be high, but if something unusual interferes with your top priorities, it might be best to move on to another option. Together, we'll carefully read over their requests and discuss any questions or concerns you may have.

Are you ready to get a great offer on your home? Get in touch today.

]]> <![CDATA[Essentials to Keep in Your Emergency Kit]]> Essentials to Keep in Your Emergency Kit

Let's face it: You can't predict the future. That's why having a fully stocked emergency kit is so important. No matter the time of year, it's always better to play it safe.  

Would you and your family be prepared, just in case?  Putting essential supplies together doesn't have to be a chore and can even be done fairly quickly. You just need a list and a plan.

Need ideas? See below for useful items in any situation. 

  • Communication: Stay connected even if you lose power. Try a hand-crank or battery-powered radio — preferably one with charging ability to keep your devices running. 

  • Lighting: A flashlight and batteries are a must. Get a few different types, like lanterns, floodlights and keychains. You never know how much light you'll need or where you'll need to take it. You can also stash a few candles and some matches.

  • Food and Water: Pack at least three days' worth of water, nonperishable foods and canned goods — and don't forget the can opener. Think beans, nuts and seeds, protein bars and dried fruit.  

  • First-Aid Supplies: You'll want a first-aid kit, complete with bandages, gauze, burn cream, antiseptic, sterile gloves, safety pins and more. Pain relievers and an extra supply of prescription medications are important, too.

  • Clothing and Bedding: Every family member will need a few changes of clothes and portable bedding like sleeping bags, blankets and pillows.

  • Miscellaneous Items: Cash, personal documents and paper maps might not seem essential now, but they could come in handy. Other nice-to-have items include duct tape, cleaning products and a multitool.

There's no telling what the future may bring, so it's important to be prepared for anything. Get in touch today for more home safety tips.

]]> <![CDATA[4 Reasons to Buy a Home This Fall]]> 4 Reasons To Buy A Home This Fall

If you have been thinking of buying a home now might be the time to act, while interest rates are low and the economy is gaining strength. Still on the fence on if you should buy a home or not? Here are a few reasons that might help convince you:

1.Unprecedented importance of home

Covid 19 shut downs have had an impact on our lives and has changed how we do business, making to so we had to focus on being at home and figure out how to do work and school from home, we became conscious of the pros and cons of our living situation. We were forced to adapt, we made alterations to our living spaces and reorganized, and in doing so, we became sensitized to the quality of sunlight, air, sound and the amount of space we had to work with. With so much time at home it has motivated many homeowners to assess their immediate surroundings and consider upsizing or downsizing or helped them decide if they need to move to a new environment altogether.

  1. Home repairs and renovations while sheltering in place
    Many people have reallocated funds such as stimulus checks along with money that would've been spent on travel, entertainment outside the home and shopping trips to help fund their home improvements. Homeowners who were forced to stay indoors were able to take advantage of these funds to reinvent their homes and add features that manybuyers find attractive such as home gyms, entertainment centers, outdoor recreation areas, upgraded kitchens and baths, this helped make home owners more comfortable but it also increased the value and salability of the home.

3. Low interest rates

Just like we Brokers depend on the banks, banks depend on brokers real estate transactions to help keep the economy moving. Mortgages are one of the primary sources of income for banks, which they can't survive without. Conforming loans under $760,000 are not kept on the banks books but are sold to Fannie Mae and Freddie Mac these are the bread and butter of most banks given the number of properties traded in this price range. To stimulate mortgage activity, the Federal Housing Finance Agency lowered interest rates. The lowered interest rates have motivated current homeowners to refinance mortgages, first-time buyer's and new homeowners to apply for mortgages and current homeowners to refinance their current loans.

 

4. Leftover spring inventory may result in deals

Home sellers tend to go on the market for the first time in the spring. They often list their homes too high out of the gate, which could mean that a series of price reductions follow during the spring and the summer months.

These sellers have fewer chances to capture buyers after Labor Day. By October, buyers are likely to find desperate sellers and prices that may, in fact, be below a home's true market value.



Do you want to move forward in finding a new home but not sure where to start or how to navigate in this crazy real estate market, contact me and I will walk you through the steps and help you on your way to finding the perfect place for you to call home!

#livelifeinbend #insunriver #oregonhomes #centraloregonrealestate #sunriverrealestate #buyhome #homebuying#realestate

]]> <![CDATA[How To Buy a Home Sight Unseen]]>

How to Buy a Home Sight Unseen

If you're thinking about buying a house right now, you're probably wondering how best to go about it. The truth is, you can still do in-person tours in some places, depending on the local regulations, but many people are buying homes right now without stepping foot inside until the deal is done.

Sight unseen deals are nothing new, but up until recently they were used mostly for foreign buyers, investors, or long-distance home shoppers. These types of remote deals have become more mainstream in the wake of the COVID-19 pandemic, and there's evidence to suggest they're more than a passing trend.

A survey from 2018 showed that about 20% of homebuyers had made an offer on a home without seeing it first. A more recent, COVID-19-influenced survey, found that 45% of homebuyers in the last year had made an offer without seeing the property in person. In April of this year, realtor.com found that "24% of 1,300 consumers surveyed said they'd be willing to buy a home without first seeing it in person."

If you're considering purchasing a home sight unseen, keep these tips in mind:

Work with the right agent
If you're buying a house without touring it first, you have to depend on your agent to be your eyes and ears. It's crucial that you go with a local expert, especially if you aren't super familiar with the area.

Take advantage of technology
Online listings with 3D home tours are up by more than 600% since the pandemic hit. Listings that have this functionality are likely to rise to the top because they give you a better feel for the home. Remember, whether you're looking at a carousel of images or a 3D tour, don't forget to ask your agent to go a step further.

"Once you know which homes you're most interested in, have your agent book some showings and take you along on the tour using FaceTime," said HomeLight. Being able to view the property with someone in real-time will allow you to ask questions while getting an understanding of the "flow" of the home.

Then, ask for a floorplan
Today, you're more likely to find home listings that include a floorplan image. If you don't see one, make sure to ask. While video tours offer an understanding of how a home feels, a detailed floorplan helps you ensure it measures up to your needs.

Knowing the full layout of a home will give you some insight on what day-to-day life will be like. For example, watching a video tour might not reveal the fact that the new home office you're excited about shares a wall with a noisy laundry room. Also, being able to quickly reference dimensions will allow you to imagine how you and your furniture will fit into the new space.

Order an appraisal and a home inspection
Even in cases where they're not required, you don't want to skip these steps. Especially when you can't or don't want to tour a home yourself, having expert and objective documentation regarding the value and condition of the home is more important than ever.

]]> <![CDATA[Setting the Right Price for Your Home]]> Setting the Right Price for Your Home

Setting a Price for Your Home
Determining the right price to list your home can be tricky business.  It is both an art and a science.  Use these tips to arrive at a listing price more easily.

The Pricing Dilemma
The trouble with pricing your home above its value isn't just that you might not end up getting that price. After all, you can always lower the price later, right? The real trouble is that the longer your home stays on the market, the more it loses its luster, and the more difficult it will be to sell. 

On the other hand, setting your price too low isn't necessarily a disaster, though it can be. Sometimes, a home priced below its worth will receive multiple offers, driving the price up to market value. But there's no guarantee that it will work out that way, so it's still a big gamble. The question is, how do you zero in on that magic number?

Check Out Comparable Listings and Sales
Research homes similar to yours listed in your neighborhood during the last three months.

  • Best Time to List
    Traditionally, March through June seems to be the best months to get the most money for your house.  There are, however, alternative theories about when is the best time to sell. Let's talk to discuss what is the best time to list your home.
  • Curb Your Emotions
    Resist the urge to allow your emotional connection to the house trick you into overestimating its worth. 
  • Get It Into Shape
    Giving your home a deep cleaning and a little DIY love before listing it can help boost its curb appeal and may allow you to price it a bit higher. 
  • Get a Comparative Market Analysis
    I can supply you with a free comparative market analysis (CMA).  A CMA involves gathering data on recently sold nearby homes in your price range.

Find a Great Real Estate Agent
One of the keys to setting the right price for your home is having the right real estate agent in your corner – someone with the skills, experience, and resources to help you get every penny your home is worth.

Please don't hesitate to reach out when you're ready to learn more about listing your home! I'm here to help with answers to any questions you may have, from setting the price to closing the sale.

]]> <![CDATA[5 Tips to Make Moving Day Easy]]> 5 Tips To Make Moving Day Easy

If you're not exactly jumping for joy at the thought of packing up your life and moving to a new home, you're not alone.  Just when you think you've cleaned your last closet and sorted through that final bin, "BAM!" more work suddenly appears.  

Moving Day
To keep your move (and head!) from spinning out of control, follow these five tips to make moving day as easy as can be.

  1. Start Planning Early
    Avoid last-minute planning. Allow a minimum of 30 days to create your plan to ensure everything falls into place.

  2. Your Moving Strategy
    Determine how you'll move to your new home. For shorter distances, enlist the help of close friends and family. Renting a truck goes a long way in ensuring that your move is easy and hassle-free. If you're relocating a long distance, contact moving companies and hire the best one that meets your needs.

  3. Keep Your Service Providers in the Loop
    Inform your movers of what to expect during moving day. Communicating such information expedites the relocation process since the movers will be in a better position to calculate costs, distances to be covered, and the right tools to use.

  4. Dispose of Unnecessary Items
    Moving offers you the opportunity to sort through your belongings and de-clutter your life. Sort and donate extra belongings to a charitable organization. Alternatively, holding a yard sale is a good idea too.

  5. Take Stock of All Items
    Taking an inventory of your property is essential--especially when using a moving company. With an inventory list, you have a permanent record of your property in case anything is lost or damaged. Labeling all of your packing boxes helps determine the contents of the box and in which room they belong.

By using these tips, you may not be able to move mountains but you can at least make moving into your new home easier.

]]> <![CDATA[Central Oregon Real Estate Housing Market Update]]> Central Oregon Real Estate Housing Market Update for August 2020

Bend, Oregon

Bend has seen the housing prices stabalize a bit for August but inventory is lower than it was in July. The new detached single family residence permits increased to 76 from 46 in July. Building is definatly going on and growth is happening in Bend.  Right now we are waiting to see how much the wildfires across or state will impact us.

Redmond, Oregon

Redmond's single family residendial housing market median sales price has increased aproximately 5% and the level of inventory is holding steady right now.

Sunriver, Oregon

In Sunriver the inventory is low with a median average sales price of $507,000. 

Sunriver market update

La Pine, Oregon

Right now La Pine is seeing a lot of action but inventory is low and the prices are rising, more people are buying in La Pine as Bend's prices increase. Average median price in La Pine is $336,000. This has rose from the 4th quarter in 2019 when we were at a median price of $248,000.

In the Central Oregon real estate housing market we have been dealing with low inventory which is leading to multiple offer and homes selling for more than they were listed for. Right now it's a touch time to be a buyer but a great time to be a seller. It is defianatly a sellers market.

With Covid and the wildfires it is so hard to know what to exspect with the real estate market as we head into fall.

Read the full real estate market report here

If you would like to know more about the housing market give me a call 541-815-0906 or send me an email keith@isellsunriver.com

]]> <![CDATA[Central Oregon Housing Market Update]]> Central Oregon Housing Market Update for August 2020    

The Central Oregon houseing market has taken off, the single family median sale price in Bend has broken another record in July. 
Last month the median  sale price was Central Oregon Housing Market Update
$529,000, up 12.55% from July 2019.  The data was reviewed three times in order to ensure the $529,000 was correct.  The number of sales in Bend reached over 300 sales in July.  Demand is strong and the inventory level fell slightly lower than a one month supply.  This spike may be temporary and time will tell if the trend remains over $500k.
 
In Redmond, Oregon the housing market for single family residence had a slight increase in July, $345k, up about 9.52% from July 2019.  

Building permits in  Bend and Redmond are at typical levels.

In the report you will also find the smaller outlining areas of Bend, Or.  Sisters, Or the median single family home price was $499,000 with 15 sales and only and average of 33 days on market. Inventory in Sisters is very low with only a two month supply.

Sunriver, Or housing market is very hot right now as well, median single family home is $507,000 with an average of only 63 days on the market, we are finiding much lower numbers than this and also receiving multiple offers. The number of single family home sales was 21 with a less than a two month supply. Inventory in this market is very low for this time of year and buyers are just waiting for homes to come on the market. There is a lot of cash sales right now as well.

The La Pine housing market has really taken off with Bend jumping in average sales price La Pine has come up in their sales prices as well. The median sales price for single family home in La Pine is $336,000, with 27 sales and an average of 27 days on the market and only 2 months inventory.

Right now the market is very hot, if you are looking to buy the best way to win at multiple offers is make your best offer. If you are a home seller now is a GREAT time to put your home on the market to get the most ROI on your investment.

If you have questions about what the Central Oregon housing market is doing please give me a call.... 541-815-0906 or email me at keith@isellsunriver.com

 

 

*Information obtained from the MLS of Central Oregon with permission of COAR, compiled reports by Donnie Montagner with Beacon Appraisal. Information is deemed reliable but subject to change.

]]> <![CDATA[Sunriver Real Estate Market Report]]>

Sunriver, OR 97707

If you have been thinking of selling your home, right now might be the time, it is a strong sellers market in Sunriver amist the Covid pandemic.

Wednesday July 22,2020
This week the median list price for Sunriver, OR 97707 is $775,000 with the market action index hovering around 50. This is an increase over last month's market action index of 42. Inventory has held steady at or around 21. Click here to stay informed with the Sunriver market!

Market Action Index

This answers "How's the Market?" by comparing rate of sales versus inventory.

Strong sellers real estate market
The market continues to get hotter. More sales demand and fewer homes listed have contributed to a relatively long run of increasing prices. Current supply and demand levels show no sign of prices changing from their current trend.
 
Sunriver median list price 
Sunriver median sunriver real estate listing price
Price trends in this zip code continued their recent uptrend this week. While still below the market's high point, we've seen a nice run recently.
 

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

It is a strong sellers market right now in Sunriver, inventory is low, interest rates are low and prices are up. If you have been tossing around the idea of selling now would be a great time to get your home listed for sale.

Strong real estate sellers market

Information provided by First American Title

 
]]> <![CDATA[5 Tips for First Time Homebuyers]]> 5 Tips for First Time Homebuyers

First Time Homeowners

You have decided now might be the right time to enter into the Bend real estate market. Sometimes for first time homebuyers the process of purchasing real estate can be intimidating and very overwhelming. Keith Petersen will be there to help step you through the process from start to finish, he will help you get in touch with a mortgage broker to get you pre-approved so you know what price range you can start shopping in for homes, he will help you navigate the location and neighborhood that would fit your lifestyle and needs best and of course negotiating the purchase and handling all the paperwork that goes along with the real estate transaction. Below are 5 tips and advise to help you prepare for home ownership.

  1. Buy Only What You Can Afford: It's easy for homebuyers to get caught up in the emotions of buying their first home. It is important to find out what you can afford. You will need to look at your personal finances and your ability to cover additional debt, this is something lenders take very seriously. Lenders will generally want your overall dept to income to be no more than 40-50% of your total income. A good rule of thumb is not to spend more than 28% of your total income on housing costs, this includes mortgage payment, property taxes, and insurance. We have some great mortgage brokers than can help you navigate through the process of finding out what you can afford and what you can get approved for.

 

  1. Get Pre-Approved for Your Home Loan: Knowing how much you can afford to spend on a new home is the first step in the home buying process. Like we talked about in step one. There are many mortgage calculators that can help you figure out what your monthly mortgage payments would be based on the price of the home, terms of the loan, and percentage of the down payment.

 

  1. Don't Forget the Extras: When you are figuring out how much home you can afford, it's important not to forget the extras. Additional items to include in your monthly cost would include property taxes and any homeowner association dues, home ownership insurance. New homeowners also need to make sure they consider any appliances that need purchased, window coverings and maintenance costs. The general rule of thumb is to set aside 1% of your homes value for yearly maintenance and repairs.

 

  1. Make a List: Before you even start looking at your first home, make a list, make columns with items such as "must haves" (examples: backyard, location) second column "wish list" these are things you would like to have but are not necessary. You are probably not going to get everything on your homeownership list but it will help keep you and your real estate broker on track during your home search.

 

  1. Find a Good Real Estate Agent: Whether it's finding a mortgage broker, finding out about neighborhoods Keith Petersen can help you navigate finding you the right home at the best price. The goal is to make you happy and successful with your first venture into purchasing real estate in the Bend area.
]]> <![CDATA[How to Create Your Ultimate Outdoor Kitchen]]> Create Your Ultimate Outdoor Kitchen

Backyard Kitchen

Create a beautiful outdoor cooking space for relaxing and entertaining all summer long.

As summer approaches and temperatures start to rise, no one wants to spend time inside sweating over a hot stove. With an outdoor kitchen, you can make the most of the beautiful warm nights by spending them with your friends and family.

Whether you have thousands to spend or a just few hundred to splurge, create your own outdoor kitchen and enjoy all it has to offer.

Upgrade your grill

A rusty, dusty grill doesn't inspire lingering outdoor evenings. Upgrade your outdoor grill and take care of it all year round for a stand-out outdoor kitchen. A standard grill will cost you $150 to $300, and top-of-the-line outdoor ranges may be upwards of $1,500.

Before buying the biggest and best grill, consider how you will use one. Will you be feeding the whole soccer team? Or perhaps grilling some steaks for a romantic dinner for two? Look for a grill with features you will actually use and not just the latest trends.

Enhance your seating

If your basics are up to date, then you'll want to upgrade your patio furniture and seating options too. If you plan on dining outside often, invest in an actual dining table and appropriate chairs. Eating a gourmet dinner off your lap downgrades an otherwise luxurious experience.

If you're looking for more versatile pieces, sleek contemporary options coordinate nicely with most outdoor kitchen setups. Expect to spend a good chunk of change on quality furniture, but remember: With the proper care and maintenance, it can last as long as high-end interior pieces. Make sure you have a plan for the off-season, whether that's moving outdoor furniture to indoor storage or securely covering it to protect it from the elements.

Add the extras

Want a prep sink? Wine fridge? Ice machine? Built-in smoker? You got it. The sky's the limit when it comes to custom additions — or rather, your budget is the limit. Think carefully about your space before making a wish list.

Perhaps a full chef's kitchen won't quite fit in your backyard, but a beautiful wine fridge and some extra counter space are just what you need to take your outdoor kitchen to the next level.

Some features require installing or extending utilities (think: water or electricity), so don't forget about portable additions such as a bar cart — which adds class without hassle.

Make it comfortable

Think about how you will provide amenities to make being outdoors comfortable, such as shade, heat (if using your space year-round), and perhaps even a few extras like a TV or audio equipment.

Tucking the seating close to the house may help you take advantage of a porch or awning. Otherwise, structures such as a light-strung pergola add shade during the day, light at night and atmosphere all the time.

If you have the room, the addition of a fireplace allows for a longer entertaining season. Outdoor kitchens don't have to be just for summer, after all.

If you like to have some indoor comforts while enjoying your beautiful outside oasis, television and music can be connected outside — although it can be expensive. Bluetooth or portable speakers, a projector and a large sheet, or even an old-fashioned radio are more budget-sensitive options for those looking to add a little fun to their outdoor space.

Apply your own style

Create an outdoor kitchen that suits your style and taste. If you're working with an existing space, be sure to embrace the style and play up the features, such as dark wood, stone and classic columns.

If you're starting from scratch, take a look at your indoor design and see what features you like. Then consider incorporating those color schemes, design styles or even furniture shapes into your outdoor kitchen.

While you can't go wrong designing your outdoor space, consider designs and colors that are versatile so you're not limited if you want to mix things up in the future.

Make it yours

Your outdoor kitchen should be a comfortable, relaxing space for entertaining or unwinding after a long day of work. Make yours an escape that works for you.

When planning your outdoor kitchen, think about adding one or two small luxuries that will make you excited to enjoy your space. These can be as small as pretty tea lights scattered around or as large as a wood-burning pizza oven.

If you don't have a backyard and would like to find a home that does, search all homes for sale in Central Oregon here

 

 

Originally published June 2016. Natalie Wise

]]> <![CDATA[Mortgage Applications Defy Forecasts]]> Mortgage Applications Defy Forecasts

Mortgage Applications

Home buyers are entering the real estate market at a much brisker pace than many economists forecasted. Mortgage applications for home purchases continue their upward streak, rising 9% last week compared to the previous week, the Mortgage Bankers Association reports. This marks the sixth consecutive gain for home purchase applications and a 54% increase since early April.

"The home purchase market continued its path to recovery as various states reopen, leading more home buyers resuming their home search," says Joel Kan, the MBA's economist. "Additionally, the purchase loan amount has increased steadily in recent weeks and is now at its highest level since mid-March."

Housing demand was strong at the start of the year but significantly declined as the COVID-19 pandemic set in. Economists are noticing the sudden uptick as buyers reenter the market. The Commerce Department reported this week that newly built single-family homes saw an increase of nearly 1% in April. Inventory shortages in the existing-home market are prompting more buyers to new homes, analysts speculate.

Further, home prices continue to hold strong due to a lack of housing inventory on the market.

Buyers could be being drawn to record low mortgage rates. The average contract interest rate on a 30-year fixed-rate mortgage was 3.42% last week, the MBA reports.

"The low mortgage rates, without a doubt, are helping to entice buyers back into the market," Lawrence Yun, chief economist of the National Association of REALTORS®, told realtor.com®. Also, "real estate may be viewed as a safe asset in the upcoming years," he adds.

Buyers are taking out larger mortgages. The average loan size was about $340,200 during the week ending May 22, up from a $315,300 low set during the week ending April 3, the MBA reports.

Meanwhile, refinance applications have not been performing quite as strongly as purchase applications. Refinance applications dropped 0.2% last week. Still, refinance applications are up 176% over a year ago.

Now is a great time to purchase your home, get a step by step list of what you need to do to get ready to buy a home. Information for buyers

Source: 
"Mortgage Demand From Homebuyers Shows Unexpectedly Strong and Quick Recovery, as Applications Spike 9% From a Year Ago," CNBC (May 27, 2020)
]]> <![CDATA[Deschutes County Real Estate Market Data]]> Deschuts County Real Estate Market Data

Real estate market data for Deschutes county includes, Sunriver, Bend and La Pine. Keep in mind when looking at the graphs we are in the process of popping back from a pandemic that shut down our towns for the last two months. With that in mind these number are actually very impressive.

sunriver-median-sales-price-graphsunriver-new-listings-real-estatesunriver-pending-real-estate-home-sales

Real estate data for the first quarter of 2020 for Sunriver, Oregon

For the first quarter of 2020 Sunriver had a total of 31 residential properties sold, that is a 3% change from last year with not short sales or bank owned properies. The average real estate sales amount was $601,658 that up from last year by abour 11% with a median sales amount of $506,000. Average days on market for Sunriver was about 129 days, that is us from last year by 11% but keep in mind that Sunriver has been shut down for 2 months during this quarter, so actually that is not bad numbers.

Total number of condos or townhomes that were sold in Sunriver was 9, that is down by -36% with an average sales amount of $326,521 and a median sales amount of $355,788 with average days on market of 99. 

sunriver-real-estate-stats

Deschutes County Real Estate Data for Bend, Oregon

Total solds for Bend residential real estate sales with less than one acre in the first quarter were up from 2019 by 18% with 455 solds now short sales and 1 bank owned property. Average sales amount was $546,461 up by 7%. Median sales amount was $454,600 up by about 3% from last year. Residential real estate in Bend with over one acre was up from last year by 26% with a total of 68 solds, average median sales amount of $779,500 and average sales amount of $896,100. 

There were 12 manufactured homes sold with less than 1 acre  and 7 manufactures homes sold with more than 1 acre this number is down from last year with an average sales amount for less than one acre of $292,729 and $349,357 for over one acre. Townhomes and condos sold in Bend were 54 thats a 6% increase from 2019 with a median sales price of $334,950 an increase of 3%.

See the Bend 1st quarter statistics table below for more information.

Bend Oregon real estate stats for first quarter 2020

Overall in Deschutes County it is still a sellers real estate market, home prices are holding their value and I would say they will even go up as we go into the second quarter and head into the summer months. With pending sales declining in April during the middle of the pandemic we were wondering what direction our housing market was going to go. Now we see pending are higher in May than they have been all year, this should give you hope that prices are going to increase.

If you area thinking of selling your home, listings are very low and we are finding that if priced right we are getting multiple offers and in some cases driving the price up above the asking price. We are have a 40% decline in newly listed homes for sale vs last year. That's a huge decrease!

Find out what your home is worth today just by entering your property address, go to the main paige of www.isellsunriver.com and scroll down to enter your address.

If you have any questions about this report or what is going on in the Sunriver, Bend housing market give me a call/text at 541-815-0906 or email keith@isellsunriver.com

 

"Information deemed Reliable but not Guaranteed." Information was gathered from Central Oregon Association of Realtors.

]]> <![CDATA[Benefits Of Being A Sunriver Property Owner]]> What benefits do I have as a Sunriver property owner?

Sunriver property owners receive many benefits being part of Sunriver Owners Association (SROA). The annual SROA Member Preference Program (MPP) and ID adds enhanced access and discounts.

The Recreation Plus Program (RPP) provides recreation access opportunities for owners who use their property as a vacation rental.

SUNRIVER AMENITIES SUNRIVER OWNER SUNRIVER OWNER WITH A VALID MEMBER PREFERENCE ID
Maintenance of roads, bike paths, parks including road/pathway snow removal & improvements X X
Administration, association accounting and Sunriver Scene X X
Architectural review and property compliance X X
Ladder fuels reduction, forestry & noxious weed management, environmental restoration and mosquito control X X
RECREATION AMENITIES SUNRIVER OWNER SUNRIVER OWNER WITH A VALID MEMBER PREFERENCE ID
Exclusive access and free reservations to Mary McCallum Park X X
Discounts on reservations for Fort Rock Park, Paulina Park and SHARC event space rentals X X
Access to up to five cords of firewood annually (permit required) X X
Annual SROA owner directory & guide $2 X
Unlimited access to SHARC aquatics, winter tubing hill & disc golf (seasonal)   X
Unlimited access to member-only Sparks Fitness Center at SHARC and discounts on fitness classes   X
Member-only designated lap swim times   X
Seasonal member express admission line at SHARC   X
Exclusive access to SROA North Pool   X
Unlimited access to SROA boat launch and seasonal shuttle service   X
Free tennis & pickleball court use   X
Discounts on SHARC retail items, swim lessons and SHARC Bite Cafe   X
Discounts on select recreational programs including tennis lessons & clinics   X
Free and/or discounted admission to select SROA events & functions   X
Area Discounts SUNRIVER OWNER SUNRIVER OWNER WITH A VALID MEMBER PREFERENCE ID
Discounts at select Sunriver area merchants and restaurants   X
Free admission to select programs at the Sunriver Nature Center   X

SROA Member Preference Program (MPP) is an annual access program for Sunriver property owners. This program offers a SROA Member Preference ID Card that provides access to SROA recreational activities and area discounts.

Annual Member Preference ID Cards

$55/year per card

ID cards must be renewed annually. Renewals begin December 15 and are valid through January 31 of the following year. (No proration)

Member Preference ID provides:

Member Preference Program ID

Recreation Access
For just over $1 a week, SROA members earn a plethora of discounts and unlimited access to a variety of programs with the annual SROA Member Preference ID Card including:

Guest Passes
Each unit/property is eligible for 20 SROA Member Guest passes annually with at least one Member Preference ID card purchase. Post Labor Day New Member Accommodation properties receive 10 passes.

Passes allow access to SHARC aquatics, tennis & pickleball courts, tubing hill and disc golf (all subject to seasonal availability). Passes can be used to access the fitness center (plus an additional $3) and North Pool, ONLY if guest is accompanied by a Sunriver property owner with a valid Member Preference ID card, during facility use.

Sunriver Area Discounts
Local Sunriver area businesses and restaurants provide a discount on products and services to owners who show their Member Preference ID Card.

Printable list of participating area businesses in the MPP discount program

 

 

Eligibility

Sunriver Property Owners
Member Preference ID Cards are available exclusively to Sunriver property owners within the boundaries of SROA.

For properties owned by individuals, the owner(s) name(s) must match Deschutes County's property records. Eligibility is extended to spouses and children between the ages of 4 and 23 (children age 3 and under receive complimentary access).

For properties held by trusts or businesses (including corporations, partnerships and LLCs), supporting documentation naming all trustees, members, officers or owners of the business is required prior to card purchase.

Extended Family Cards
$123 per card or $72 for a 7-day pass per person

Extended family members who are related to the member of record (adult children 24 and older, siblings, parents, grandchildren, in-laws) are eligible for a non-transferable Extended Family ID card. Extended family designation must be made by the Sunriver property owner of record, and a designation form must be submitted to Member Services each year prior to purchase or renewal.

Long Term Renters
Please contact Member Services for more details.

The Recreation Plus Program (RPP) is available to Sunriver property owners who either manage their own vacation rental home/condo or contract that responsibility with a property management company. This program offers Recreation Plus Cards for renters to access SROA recreation amenities.

Recreation Plus Program Card

Recreation Plus Card provides access to:

How it Works

The number of cards provided to a property owner is based on the occupancy limit of the house on file with the Deschutes County Assessor's office. SROA adheres to Deschutes County's occupancy ordinance: 2 people/bedroom + 2 additional people.

2020 Annual Recreation Plus Fees

NUMBER OF ROOMS FEE NUMBER OF CARDS
One bedroom home $1126 4 cards
Two bedroom home $1690 6 cards
Three bedroom home $2252 8 cards
Four bedroom home $2815 10 cards
Five bedroom home $3380 12 cards
Six bedroom home $3941 14 cards
Seven bedroom home $4505 16 cards
Eight bedroom home $5068 18 cards

Key Information

  • To be eligible, owners of vacation rental properties must provide a Deschutes County Transient Room Tax number with their agreement.
  • Owners must participate in this program on an annual basis.
  • Renewals begin in December and the cards are valid through January 31 of the following year (no proration).
  • Recreation Plus participants can receive a discount for full payment in advance or may choose a three-part payment plan.
]]> <![CDATA[Recreational Marijuana in Central Oregon]]> Recreational Marijuana Became Legal in Central Oregon

Recreational Marijuana in Central Oregon

On July 1, 2015, recreational marijuana became legal in Oregon for adults 21 and over. It's important to know the facts. Included below are the state rules for recreational marijuana, as well as local regulations in Central Oregon cities and counties related to the sale and distribution of marijuana. Local regulations impacting the commercial side of the cannabis industry vary by city so be sure to check with yoru jurisdiction to determine what is permissible.

21+ = Legal age to possess, use and buy

4 = Plants permitted per property

8 = Ounces of usable marijuana permitted in one's home

1 = Ounce allowed "on your person"

Public use of marijuana is illegal, allowed only at home or on private property

Recreational law does not affect existing landlord/tenant laws

Plants must be grown out of public view

Marijuana can not be takne into other states, like Washington and vise-versa.

County/ City guidelines
Bend - Licensed recreational marijuana facilities allowed within the City
Deschutes County - Growing, processing and retail allowed in unicorporated areas
Jefferson County - Medicinal only- prohibits licensed recreational marijuana facilities
Madras - Licensed recreational marijuana facilities allowed within the City
Redmond - Prohibits licensed recreational marijuana facilities
Crook County - Prohibits licensed recreational marijuana facilities
Harney County - Prohibits licensed recreational marijuana facilities, but permitted in Hines
LaPine - Licensed recreational marijuana facilities allowed within the City
Prineville - Prohibits licensed recreational marijuana facilities
Sisters - Prohibits licensed recreational marijuana facilities

 

Disclaimer: This FAQ created by COAR and is meant to serve as a guide based on current and available information. It is not a complete list of policies or requirements. Retail/ Commercial applicants must work with local governments and meet specific requirements. For complete policies and regulations pertaining to marijuana in your city or county, please contact your local government. For more information on state law, visit oregon.gov/olcc/marijuana

Information provided by: COAR

]]> <![CDATA[Bend Oregon Inclusionary Zoning FAQ]]> Bend Oregon Inclusionary Zoning FAQ

Inclusionary housing

Definition
Inclusionaryzoning(or inclusionary housing as it is alsoknown)is a term which refers tomunicipal and county planningordinancesthat require a given share of newconstruction to be affordable forpeople with low to moderate incomes.

Issue Overview
Inclusionary Zoning is an impactful policy, the effects of which could be detrimental to central Oregon communities within thecontext of thecurrent affordable housing crisis. Price-controlling a designated amount of units within a specified area will ultimately result in the opposite of the desired effect –pricing out the middle-class buyer and creating a steep entrance into the housing market.

Until recently, a statutory preemption existed in Oregon which banned Inclusionary Zoning. However, during the 2016 short session, state lawmakers approved a package of housing legislation that included a bill which reverses the 17-year ban on Inclusionary Zoning. This bill –SB 1533B –provides the limited ability for cities to require somelarge multifamily developments, including workforce housing, if the city adopts the requiremen

What's in the bill?
Specific provisions of the bill include:
Requirements may be imposed on developments of 20 units or more of multifamily developments with at least three adjacent units within a development.

Jurisdictions may require that up to 20% of units be affordable at 80% of AMI or above. Jurisdictions must offer developers the option of paying an in-lieu fee, and at least one of several incentives related to the requirement of affordable housing. Requirements and incentives may be determined by each locality.

Communities may offer voluntary incentives designed to encourage affordability in addition to or independently of affordability requirements.SB 1533 also provides cities and counties with the option to create a dedicated revenue source through the imposition of a construction excise tax to offsetthe costs of creating affordable homes within their communities.Residential construction fees must be capped at 1% of permit value and 100% of revenues must be dedicated to affordable housing

The Loophole
A significant loophole currently exists in Inclusionary Zoning that extends the policy's reach in the case of annexation. The loophole essentially allows a city to require whatever amount of Inclusionary Zoning it desires when land is annexed into the city.

What's next?
The passage of SB 1533B and the subsequent lifting of the ban on Inclusionary Zoning gives Oregon cities the option to adopt Inclusionary Zoning policies. So it is now up to city councilsto determine whether or not –or to what degree –their city adopts Inclusionary Zoning policies.

COAR's Position
We recognize that compromise is necessary in order to pass legislation that addresses the affordability crisis while also protecting the interests of developers and REALTORS®. However, it is COAR's position that Inclusionary Zoning is a detrimental policy that will ultimately increase the price for homebuyers and decrease both the seller's bottom line and the supply of homes.COAR maintainsits opposition to Inclusionary Zoning and will oppose the efforts of any cities within itsjurisdiction that attempt to adopt Inclusionary Zoning as permitted by SB 1533B, as well attempts to extend the policy's reach through annexation

Resources
For more information on Inclusionary Zoning, reference the following resources:

Bento, A., Lowe, S., Knaap, G-J., & Chakraborty, A. (2009). Housing Market Effects of Inclusionary Zoning. Cityscape: A Journal of Policy Development and Research, vol. 11 (2). p. 7-26. -click here

High, A. (2016, February 21). Letter: Inclusionary zoning is not right for Bend. The Bulletin. Retrieved from http://www.bendbulletin.com/opinion/4006839-151/letter-inclusionary-zoning-is-not-right-for-bend 

Means, T. & Stringham, E. P. (2012). Unintended or intended consequences? The effect of belowmarkethousing mandates on housing markets in California. Department of Economics, San Jose State University; School of Business and Economics, Fayetteville State University. -click here

Poverty & Race Research Action Council. (2014). Inclusionary Zoning: A Selected Annotated Bibliography. -click herePowell, B. & Stringham, E. (2005). The Economics of Inclusionary Zoning Reclaimed: How Effective are Price Controls? Florida State Law Review, vol. 33:471. p. 471-499. -click here

Schuetz, J., Meltzer, R., & Been, V. (2008). Silver Bullet or Trojan Horse? The Effects of Inclusionary Zoning on Local Housing Markets. Furman Center for Real Estate & Urban Policy. -click here

Theriault, D. C. (2016, March 17). Kate Brown signs bills on affordable housing rules, renter relief. The Oregonian. Retrieved from http://www.oregonlive.com/politics/index.ssf/2016/03/kate_brown_signs_bills_on_affo.html -click here

Article provided by: Central Oregon Association of Realtors (COAR)

 
]]> <![CDATA[Central Oregon Real Estate Market Update]]> Central Oregon Real Estate Market Update

The real estate housing market in Bend was still going strong in October with a median sales price per sq. ft for single family residence of $254, that's up from the previous month when it was t $231. Days on market for sold properties increased a bit from 77 to 86 days in October.
Sales did slow in September from 252 the previous month to 213 and then shot back up in October to 220 sales.  Amazing enough the median sales price is higher in October at $471 than it was in July at $470.

Now is a great time to put your home on the market if you wanting to sell, the market is still strong and there is less inventory.

Bend real estate market

In bend if your looking for a home under $300k there is not much to choose from, only 4 homes on the market between $250 - $300 and there is none under the $250 price point. Even the $300-$350 price point there is little to choose from with only 35 homes on the market.

If your looking for a bit more affordable housing Redmond is great option with the median sales price at $327 and the price per sq.ft at $197.  Redmond is growing like crazy, with the prices in Bend jumping up people are looking at Redmond. Building permits in October increased from 45 the previous month to 56 in October, Bend's permits fell from 51 to 25 in October.

There are not as many sales in Redmond as there were Bend but the sales increased from the previous month at 88 to 90 in October and the days on market has been holding the last three months at an average of 73 days.

Redmond real estate market

Sisters average sales price has fallen under Bend and is now at $419 with an average of 104 days on the market and a current inventory of five months.

In Sunriver the current inventory is an average of 4 months and a median sales price of $550, days on market art holding at 104 days. We are finding in the Sunriver market if the home has any updates and is price competitively, they are selling very quick and sometimes with multiple offers.

Real estate in La Pine continues to amaze us, the price of housing has jumped, the media sales price is $257 with 113 days on the market and 5 months inventory. La Pine is now being looked at as the alternative place to live with Bend and Redmond's housing prices rising. Watch the market in La Pine because I don't think you will see this area's prices doing anything but going up.

If you would like to view/ search all properties in the Central Oregon check out our website at www.isellsunriver.com

View the whole real estate update report here.

 

 

]]> <![CDATA[Sunriver Owners Association in Search of New General Manager]]> Sunriver Owners Association in Search of New General Manager

Sunriver Oregon Logo

During the annual Sunriver Association meeting Hugh Palcic who is the general manager now at the Sunriver Owners Association officially announced his retirement from the association.

The Sunriver Association board has formed a committee called the GM Search Task Force; this committee has updated the positions job description outlining the extensive qualifications required for placement.

Former manager Hugh Palcic was with the association since 1998, he started as a compliance inspector/ code enforcement officer in the community development department then moved into the department's director position in 2006. In 2010 Palcic was promoted to Sunriver Owners Association assistant general manager and has been since 2013.

Do you know what it takes to be the general manager of a complex organization and diverse community such as Sunriver?  There is a lot involved in this position. Sunriver Owners Association operations are comparable to how you would manage a small town and includes a variety of specialized departments to care for the infrastructure, environment, recreational amenities and day to day operations to preserve Sunriver for its residents, their guests and thousands of annual visitors.

The board has approved the official job description that was created by the task force. Some of the job requirements and qualifications are as follows:

-At least five-plus years in upper-level association management or equivalent field
-College degree in public administration or city management preferred
-Well versed in the county, state & federal codes and laws
-Ability to recognize and act on potential trends and impacts on the association by inside/outside influences.
-Ability to work closely with attorneys on legal matters
-Expertise in budgeting, financial management, and policies
-Maintain positive working relationships with various outside entities
-Work collaboratively with the Sunriver's respective fire and police chiefs, the Sunriver Service District's managing board, and administrator.
-Excellent verbal and written communication skills
-Skilled in public and media relations
-Expertise in contract negotiations
-Skill and experience in the development of internal/ external visionary planning and problem-solving, both short and long-range
-A confident, energized, respectful, competent, approachable and dynamic leader who exercises a good sense of humor
-Ability to balance a hands-on approach but know when to delegate and how/when to be a coach and mentor.
-Uphold the association's mission statement: Maintaining Sunriver as a premier residential and resort community, protecting and enhancing its quality of life, natural environment, and property values.

If this is a job you think you would qualify for the task force will begin its candidate application vetting process in December with interviews, references and backgrounds check to the top finalists will be invited to meet with owners in a forum setting. A final selection will be made by the Sunriver Owners Association board and announced in mid to late January.

Read the article published in the Sunriver Scene here.

]]> <![CDATA[Pricing Your Home Right Is Key To Getting It Sold]]> Pricing Your Home Right Is Key To Getting It Sold

Pricing your home right is key to getting it sold

When selling your home, you want at minimum, the sales proceeds to pay off your mortgage and cover your closing costs and fees. Ideally you would like to make some extra profit for your upcoming home purchase or whatever else you have in mind.

If you want offers to come in that live up to your expectation you should consider strategically pricing your home below market value. So many times sellers have tunnel vision and can't see past the asking price and will list with the real estate agent that tells them the most they can list their home for when really the better strategy would be to find an agent that markets well and knows how to deal with multiple offer and list your home below market value, NOT above. This is a great strategy not only to sell your home but to sell fast and for top dollar.

Listing your home below market value could seem counterintuitive but it works! The worst thing you can do is price your home above the market. Going a bit low draws attention to your home as soon as it hits the market and encourages buyers to make competitive offers, so they don't miss out on the hot deal.

Pricing your home low works well in a sellers' market, when the demand for housing exceeds the supply. There are more buyers contending for fewer houses, raising the stakes of the competition for the perfect home. Pricing your home low if you need to relocate is also one the best way to accomplish a quick sale.

Pricing your home for sale

On average luxury homes sit on the market twice as long as homes that are in the mid to low range. Sellers of luxury homes usually list high and wait to see if anyone bites on the price, while buyers in this price range sit and wait to see if prices will drop. The best thing to do is cut to the chase, price the home on lower end and see interested buyers hustle to submit their offers.

Like all strategies, pricing your home low has its risks: your home can sell for closer to the low listing
price than your target or it might sit on the market while you wait for more competitive offers. However when pulled off, this strategy can help you sell your home quickly for a great price.

Your best bet at making it work? Collaborate with a top real estate agent They'll have the expertise necessary to evaluate if strategy will play in your market and to set the right listing price. They can then assist with helping you prepare your home for viewings and generate buzz with a marketing campaign to attract the attention necessary to inspire a bidding war. Be sure to discuss the possible outcomes with your agent so you're prepared to live with the best and worst-case scenarios.

]]> <![CDATA[Income Growth Rate In Deschutes County]]> Every worker would like to get a raise, but where in the U.S. are people actually seeing the largest annual paycheck gains?  Smart Asset, a financial technology company, analyzed Census data over a five-year period to determine the places with the greatest income growth, and Deschutes County ranked among the top places in Oregon.

Income Growth Rate

Every worker would like to get a raise, but where in the U.S. are people actually seeing the largest annual paycheck gains?  Smart Asset, a financial technology company, analyzed Census data over a five-year period to determine the places with the greatest income growth, and Deschutes County ranked among the top places in Oregon.

Deschutes County Pay Table

If you would like more information about the this study go to SmartAsset.com

]]> <![CDATA[Golf Courses Near Sunriver Oregon]]> Golf Course Information Near Sunriver, Oregon

Golf Courses Near Sunriver Oregon  Golf Courses

If you are looking to relocate to the Sunriver, Oregon area and love golf you are looking in the perfect place! There are plenty of homes on and near four different golf courses. 

Inside Sunriver, Oregon we have two golf courses:

Meadows Golf Course: Meadows golf course is an 18 hole course and also has a popular 9 hole putting course, this golf course offers tremendous variety and has hosted numerous USGA and NCAA golf championships. This course has been named one of the Top 10 Destinations for Family Golf by, Golf Digest in January 2016. Book tee times online.

Woodlands Golf Course: This course was designed by Robert Trent Jones Jr and features dense forests of Ponderosa and Lodgepole Pines, outcroppings of lava rock and an abundance of water. Golfer have made mentions the supurb condition and beautiful setting of this course. Woodland is one of the Northwest's finest chanmpionship courses. There is also a golf shop that features Nike Golf products. You can book your tee time online

Along with the two golf courses mentioned inside Sunriver there are two just outside Sunriver in gated communities.

Caldera Links: Caldera Links is a nine hole course that ranges from 70-150 yards in length and is good for golfers of all skill levels. There are one on one golf instructions offered for all skill levels at this course. Get the 2019 Golf Flyer

Crosswater: Play in an ideal golfers paradise! This course is honored by Golf Digest as one of "America's 100 Greatest Courses." The course is situated on 600 scenic acres of woodland and preserved wetlands with the Big Deschuts and Little Deschutes River running through it. Tee times on this course are for members of Crosswater and guests of Sunriver Resort only. 

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