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Suns out. Buyers out. Is your home ready for them?

10 things to cross off your list before putting your home on the market

They say you’ve got to make hay while the sun shines. If you want to make some hay selling your home, that means getting it ready for all the buyers who will be out this summer.

Let’s say you’ve used some of your recent downtime to do a thorough job of spring cleaning. Now let’s take care of some of those larger household projects before the serious buyers jump back into the market to make their moves this summer. Check these 10 items off your to-do list so your house is ready to view while buying is hot:

  1. Gutters: Spring rains and runoff bring lots of debris off your roof. Remove it from your gutters and fix any leaks.
  2. Siding: Spring rains also splash dirt on your exterior walls. Power wash your siding and refresh the paint as needed. Is it time for all new paint?
  3. Windows and Screens: To let the sunshine in, wash all windows inside and out. And replace damaged screens to keep the bugs out.
  4. Hot Water Heater: Don’t forget about this important appliance. Lubricate the circulating pump and motor.
  5. Roof: How did your roof survive the winter? Replace any missing, loose or damaged shingles.
  6. Deck or Porch: Winter can do a number on these too. Now’s the time to stabilize the railings and re-stain the surfaces.
  7. Irrigation System: Adjust the timer and system to make sure everything is green, but not too green. Replace any broken sprinkler heads or damaged valves.
  8. Landscape: Trim overgrown plants and add flowers for a touch of color.
  9. Foundation: Fix floors and walls that are showing any cracks or deterioration.
  10. Bathrooms: Replace caulking in and around all showers, tubs and sinks. Make sure all drains are running free and clear.

If any of these projects are too challenging for you to do yourself, now’s the time to hire a specialist or a handyman to take care of them. For specific tips on preparing your home for the sizzling summer market, reach out to a Duke Warner Realty experienced real estate agent, today.

 

 

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When it comes to Return on Investment, there’s still no place like home.

Real Estate Tops Best Investment for Seventh Year Running

Anyone who has some money in the stock market these days has a pretty good idea of what it feels like to be rollercoaster mechanic. Up big time one day and down even lower the next.

If you’ve been losing sleep over your investment portfolio lately, you can take comfort in knowing that year after year, your best performing investment is actually right where your pillow and bed happen to be:  your home.

Every year, Gallup surveys thousands of Americans to reveal their choice for the best long-term investment from among stocks/mutual funds, gold, savings accounts/CDs, or bonds, real estate. For the seventh year in a row, real estate has come out on top.

According to Gallup:

 “Real estate remains the most favored investment to Americans, as has been the case since 2013, when the housing market was on the rebound. More than a third of Americans have named real estate as the top investment since 2016.”

This year’s results indicated 35% of Americans chose real estate, followed by stocks at 21%. The full results covering the last decade are shown in the chart below:

Bottom Line

Despite the many challenges and uncertainties our economy faces today, one thing is for sure. The belief of the American people in the stability of housing as a long-term investment remains stronger than ever.

For more information contact Duke Warner Realty and speak with one of our experienced real estate agents in Bend Oregon.

 

 

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Duke Warner Trend Report for May 2020

Not many people would disagree that Central Oregon is a beautiful town to reside or visit in the summertime. Lovely sunshine during the day and stunning starlit nights make for an almost perfect summer set up. Each month we provide our latest findings in the Trend Report for your review. Now is an exceptional time to review the latest data on home purchasing trends in Central Oregon. As we continue to monitor the pandemic related changes to our community, we want to put everyone’s mind at ease and stress profoundly that the housing market is still soaring. You can depend on Duke Warner Realty to deliver the most recent data as it pertains to real estate in Central Oregon. Our Trend Reports goal each month offers valuable insights by reviewing last month’s market activity and delivering the most accurate statistics we can, based on our research. The information we provide is an informative resource for any future trends in real estate. Last month’s predictions were accurate as we anticipated finishing strong in May. As we move into the summer month of June, we already see a flourishing real estate market. Here are our latest findings from the previous month.

June 1st Inventory and Looking Ahead

More active listings, in addition to more new listings, were put into effect in May vs. April. We were arriving with 462 active listings and 258 new listings in the Bend market within a diverse range of pricing, providing a variety of homes for those looking to purchase a new home in Central Oregon this summer season. Closing out the month of May proved the number of active listings for Bend increased mildly from month-end in April, which reported at 446. May improved considerably on new listings with a substantial increase over April coming in at 258 vs. 193. Based on past trend data, we are slightly ahead for real estate sales currently. Redmond’s active listings, as of June 1st, showed a slight decrease from 215 homes overall in May to 202 currently active listings. Similar to the Bend market, the number of new listings in Redmond as of June 1st increased to 115 vs. May’s 83. The count for both Bend and Redmond remained positive in May, and as we move through June, we see the combined active listings for Central Oregon increased to 664 homes.

Month-end May statistics for the Redmond market show us 67 homes sold, 115 new homes on the market, and 97 homes pending. The majority of active homes in Redmond’s market were in the $325,100 -$425,000 price range, showing a slight decrease from last month to 82 homes. The $225,000 – $325,000 also had a mild decrease to 28 active listings, the $425,000 – $525,000 range increased by one listing to 43, and the $525,000 & up price range climbed up to 48 active listings.

For Bend, the number continued to move upward in May with a steady increase in active listings for the entire first quarter of 2020. This is promising news for new home buyers as well as home sellers. There was a slight decrease from 12 active listings to 10 in the $225,000-$325,000 range, another increase to 104 from 101 in the $325,100-$425,000 range, remaining the same with 76 active listings in the $425,100 -$525,000 range and a decrease to 54 in the $525,100 – $625,000 price range. The $625,000 – $725,000 had 49 active listings, the $725,000 – $825,000 had 46 actives and the $825,000 – $925,000 showed a substantial jump to 42 active homes listed. As you can see from our Market Trend Report, there were homes available in the higher price ranges as well, showing a slight dip for homes listed in the $925,100 & up price range at 81.

In our Central Oregon real estate market, buyers often look for competitive pricing as they consider properties. With low-interest rates and a wide variety of inventory in multiple price ranges, now is the perfect time to buy or sell your home. Whether you are buying or selling your home, we encourage you to consult with your trusted Duke Warner Broker for seasoned, expert advice. Our brokers will share their variety of experience, excitement, and in-depth market knowledge while they work for you.

Sold and Pending Listings

In May, Bend had a massive leap in pending homes from 141 in April to 285 in May, and Redmond had a bump to 97 pending vs. 73 the previous month. These numbers remain consistent and tell us both buyers AND sellers are competing for available properties. For sold listings in Redmond, there was a reduction from 73 in April to 67 in May. Equally in Bend with a decrease from 171 sold in April to 145 sold in May. Based on the increased number of pending homes underway in June, we anticipate the sold numbers for both cities to surpass all previous figures in 2020.

Looking Ahead

Homeownership is one of the best wealth building prospects for persons seeking security. Central Oregon is a desirable community and has only continued to be more inviting over the decades. Our team of real estate experts are always available and happy to help guide you in the home buying and selling journey. With record low-interest rates and a variety of homes from which to choose, Central Oregon is a beautiful place to call home and establish roots. Whether you are buying for the first time, upgrading, downsizing, the Central Oregon real estate market has the perfect home for everyone. As you consider your housing needs, start to plan and look ahead, whether you want to buy or sell a home, keep us in mind for your real estate ventures. Our experienced team knows how to price properties according to the market trends, and our expertise in the industry is reflected in our willingness to work hard for our clients.
Give us a call today and let us help you get started! We can be reached at 541.382.8262 or send us an email at info@dukewarner.com.

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Would You Buy a Home Without Stepping Foot Inside?

Technology is Helping Buyers Navigate the Home Search Process

Whether it’s out of necessity or out of convenience, more home buyers these days are taking advantage of technological developments to advance the homebuying process. While there is still no substitute for touring a home in person, a recent realtor.com survey revealed that today’s technological alternatives have improved to the point where many would consider purchasing the home in certain circumstances without seeing it in person.

Younger demographics and renters feel more comfortable moving sight unseen

While the majority of people still want to see a home in person before making a purchase, that sentiment is shifting. With access to accurate listing data, detailed photos, virtual and live video tours, 24% of people say they would be willing to buy a home without seeing it in person and 30% would be willing to rent one. With younger demographics generally being more active with video, those numbers rise to 29% willing to buy and 34% willing to rent

With increasing limitations around social interactions and open houses, buying and selling homes is becoming more difficult and agents are needing to adjust. According to Nate Johnson, CMO at realtor.com:

“As real estate agents and consumers seek out ways to safely complete these transactions, we believe that technology will become an even more imperative part of how we search for, buy and sell homes moving forward.”

Of course, accurate and detailed information about the listing and the neighborhood, and high-quality photos are always important to potential homebuyers. But when deciding on a new home without seeing it, 61% said they would insist on taking a virtual tour of the home, while 39% said they would settle for having the agent or landlord walk them through the property via video chat.

No matter how you look at it, times are changing rapidly in the real estate industry and realtors are adjusting quickly to the new order.

Some information provided by PRNewswire — Realtor.com, April 16, 2020.

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Duke Warner Trend Report for April 2020

With Summer right around the corner, now is the perfect time to review the latest data on home purchasing trends in Central Oregon. The weekend family drive often takes potential homebuyers into neighborhoods in the surrounding areas. As we continue to monitor the COVID related changes to our community, we want to put everyone’s mind at ease and realize the housing market is still doing exceptionally well and you can depend on Duke Warner Realty to deliver the most recent data as it pertains to real estate in Central Oregon. Our monthly Trend Reports offer valuable insights by reviewing last month’s market activity and delivering the most accurate statistics we can, based on our research. The information we provide is intended be an informative resource for any future trends in real estate. As we anticipate a strong May and move into the summer month of June here are our latest findings.

May 1st Inventory and Looking Ahead

More active listings were implemented in April vs. March with 446 active and 193 new listings in the Bend market with a wide range of pricing provides a pleasant variety of homes for those looking to purchase a new home this summer. Closing out the month of April proved the number of active listings for Bend increased from month-end in March which was listed at 375. March had a slight increase over April for new listings coming in at 244 vs. 193. Based on past trend data we are right on par for this time of year. Redmond’s active listings, as of May 1st showed an increase from 178 homes overall in March to 215 active listings. As well as the Bend market the number of new listings in Redmond as of May 1st declined slightly to 83 vs. March’s 134. The count for both Bend and Redmond remained consistent in April and as we move through May we are seeing the combined active listings for Central Oregon increased to 661 homes.

Month-end April statistics for the Redmond market show us 79 homes sold, 83 new homes on the market and 73 homes pending. The bulk of active homes on the market in Redmond were in the $325,100 -$425,000 price range, showing an increase from last month to 90 homes. The $225,000 – $325,000 also had a jump to 41 active listings, the $425,000 – $525,000 range also continued to increase to 42 active listings, and the $525,000 & up price range climbed up to 39 active listings.

For Bend, the numbers in April had a noticeable increase in active listings for the entire first quarter of 2020. There was a marginal decrease in new listings for February and March but increased from January new listings. There was a jump to 12 active listings in the $225,000-$325,000 range, a sizeable jump to 101 in the $325,100-$425,000 range, another large increase of 76 in the $425,100 -$525,000 range and an increase to 51 in the $525,100 – $625,000 price range. The $625,000 – $725,000 had 43 active listings, the $725,000 – $825,000 had 45 actives and the $825,000 – $925,000 showed 31 active homes listed. As you can see from our Market Trend Report, there were homes available in the higher price ranges as well, showing more homes listed in the $925,100 & up price range jumping to 87.

In our Central Oregon real estate market, buyers often look for competitive pricing as they consider properties. With interest rates the lowest we have seen in decades, now if the perfect time to buy or sell your home. Whether you are buying or selling your home, we encourage you to consult with your trusted Duke Warner Broker for seasoned, expert advice. Our brokers will share their variety of experience, excitement, and deep market knowledge while they work for you.

Sold and Pending Listings 

In April, Bend had 141 pending homes and Redmond had 73. These numbers remain consistent and tell us both buyers AND sellers are competing for available properties. For sold listings in Redmond, there were 93 in March and 79 in April. In Bend, there were 189 sold listings in March and 171 in April.

Looking Ahead

As we look ahead to the summer real estate market, we want to remind you that our team of real estate experts are always available and happy to help guide you in the home buying and selling journey. With record low interest rates and a variety of homes from which to choose, Central Oregon is a beautiful place to call home and establish roots. Whether you are buying for the first time, upgrading, downsizing, the Central Oregon real estate market has the perfect home for everyone. As you consider your housing needs, start to plan and look ahead, whether you want to buy or sell a home, keep us in mind for your real estate ventures. Our wonderful team knows how to price properties according to the market trends, and our love of the industry is reflected in our willingness to work hard for our clients.

Give us a call today and let us help you get started! We can be reached at 541.382.8262 or send us an email at info@dukewarner.com.