DecisionsDecisions

Early morning ski….? Early morning ski….?

Midday fly casting to a spring hatch….?Midday fly casting to a spring hatch….?

Twilight round of golf….?Twilight round of golf….?

Where else can you do it all in a single Where else can you do it all in a single day...and within a 15-mile radius of day...and within a 15-mile radius of downtown? downtown?

This is Bend, Oregon This is Bend, Oregon (Ory-gun)(Ory-gun)

Lunch break on Mirror Pond of the Deschutes River in downtown Bend

Photo ©2010 by Lee Hicks

A summer sunset-Mirror Pond on A summer sunset-Mirror Pond on the Deschutes Riverthe Deschutes River

Photos ©2010 by Lee Hicks

Mt. Bachelor in summerMt. Bachelor in summer

Kayakers on Sparks Lake in a summer view of Mt. Bachelor’s “back side” ski runs.

Photo by Lee Hicks

Mt. Bachelor in winterMt. Bachelor in winter

It’s a long, beautiful trip from Mt. Bachelor’s 9,000-foot summit to the base village.Photos courtesy

Mt. Bachelor

Fall on the Crooked RiverFall on the Crooked River

A placid stretch of the Crooked River in Smith Rock State Park, a favorite with rock climbers and hikers. Photo by Lee Hicks

Mt. JeffersonMt. Jefferson

At 10, 497 feet, Mt. Jefferson anchors its namesake wilderness in the Central Oregon Cascades. Photo by Lee Hicks

The Three Sisters PeaksThe Three Sisters Peaks

Horses are a way to enjoy Central Oregon’s spectacular views while riding public lands.

Photo by Lee Hicks

The Metolius RiverThe Metolius River

Fly fishing on the Metolius River attracts anglers from around the country

Photo by Lee Hicks

Fall River Fall River

Fall River near Sunriver Resort is a catch and release gem that feeds the upper Deschutes River.

Photos by Lee Hicks

Early Spring GolfingEarly Spring Golfing

The Widgi Creek course on the road to Mt. Bachelor tempts late season skiers to get in a round before putting away the boards. (photo taken in March on the way back from a day skiing)

Photos by Lee Hicks

A cycling destinationA cycling destination

USA Cycling chooses Bend for its national championship Cyclocross races.

Photos by Lee Hicks

The downtown criteriumThe downtown criteriumThe Cascade Cycling Classic has attracted top international cyclists

Photo ©2010 by Lee Hicks

Cross country skiingCross country skiing

Cross county skiing at Meissner Sno-park is only20 minutes from downtown Bend.

Photo by Lee Hicks

Rock ClimbingRock ClimbingThe rock faces in Smith Rock State Park draw climbers from around the country.

Photo by Lee Hicks

Rafting the “Big Eddy”Rafting the “Big Eddy”

Boiling rapids of the “Big Eddy” are 15 minutes from downtown Bend.

Photo by Lee Hicks

A special tour- A special tour- the Cascade Lakes Highwaythe Cascade Lakes Highway

One of the most One of the most spectacular spectacular drives in the drives in the Cascades begins Cascades begins just outside just outside Bend…66 miles Bend…66 miles of lakes and of lakes and mountains.mountains.

The South Sister and Elk LakeThe South Sister and Elk Lake

Photos by Lee Hicks

Along the Cascades Lakes Hwy..upper and lower left boating Hosmer Lake

Bend BasicsBend Basics WEATHER -WEATHER - At an altitude of over 3,600 feet Bend is the population and commercial hub of Central At an altitude of over 3,600 feet Bend is the population and commercial hub of Central

Oregon. This high desert environment enjoys approximately 300 days annually of at least some sunshine. Oregon. This high desert environment enjoys approximately 300 days annually of at least some sunshine. Bend averages less than 35 inches annually of snowfall. But Mt. Bachelor, at a base elevation of more than Bend averages less than 35 inches annually of snowfall. But Mt. Bachelor, at a base elevation of more than 6,000 feet 21 miles southwest of town has averaged 387 inches of snowfall from 2000-2009. The mountain 6,000 feet 21 miles southwest of town has averaged 387 inches of snowfall from 2000-2009. The mountain often has a base of 100-150 inches and typically is open Thanksgiving through Memorial Day.often has a base of 100-150 inches and typically is open Thanksgiving through Memorial Day.

POPULATIONPOPULATION – Bend, nearly 82,000; Deschutes County more than 155,000 according to updated Census – Bend, nearly 82,000; Deschutes County more than 155,000 according to updated Census estimates in 2010. The second largest city in the county is Redmond, estimated population of 25,000. estimates in 2010. The second largest city in the county is Redmond, estimated population of 25,000. Sisters to the northwest of Bend has about 1,800 residents but a school district population of about 10,000.Sisters to the northwest of Bend has about 1,800 residents but a school district population of about 10,000.

PUBLIC LANDSPUBLIC LANDS – Extensive Forest Service and Bureau of Land Management lands ranging from – Extensive Forest Service and Bureau of Land Management lands ranging from sagebrush and juniper high desert to sub-alpine pine and fir forests.sagebrush and juniper high desert to sub-alpine pine and fir forests.

MAJOR PEAKSMAJOR PEAKS – The Three Sisters and Mt. Jefferson, all approx. 10,000 feet; Mt. Bachelor, 9,065 ft. – The Three Sisters and Mt. Jefferson, all approx. 10,000 feet; Mt. Bachelor, 9,065 ft. Broken Top, 9,175 ft., Mt. Washington, 7,694 ft and Three Fingered Jack, 7,841 ft.Broken Top, 9,175 ft., Mt. Washington, 7,694 ft and Three Fingered Jack, 7,841 ft.

RIVERS & LAKESRIVERS & LAKES – Deschutes River and its major tributaries. the Metolius and Crooked rivers, along – Deschutes River and its major tributaries. the Metolius and Crooked rivers, along with pristine Fall River south of Bend, and Wychus Creek which flows through Sisters. The Deschutes is a with pristine Fall River south of Bend, and Wychus Creek which flows through Sisters. The Deschutes is a legendary steelhead trout fishery in its lower reaches south of Bend to the Columbia River. legendary steelhead trout fishery in its lower reaches south of Bend to the Columbia River.

LAKESLAKES– A chain of lakes along the Cascades Lakes scenic route offer blue ribbon trout fishing, power – A chain of lakes along the Cascades Lakes scenic route offer blue ribbon trout fishing, power boating and sailing opportunities. Several are designated for fly fishing only where no motor boating is boating and sailing opportunities. Several are designated for fly fishing only where no motor boating is allowed. allowed.

AIR SERVICEAIR SERVICE - - daily direct air service from Redmond (18 minutes north of Bend) to Portland, Seattle, daily direct air service from Redmond (18 minutes north of Bend) to Portland, Seattle, Los Angeles, San Francisco, Denver and Salt Lake City. Airlines include Horizon (regional carrier of Alaska Los Angeles, San Francisco, Denver and Salt Lake City. Airlines include Horizon (regional carrier of Alaska Airlines); Delta, American and United. The Sunriver Resort Airport and Bend Municipal Airport also have Airlines); Delta, American and United. The Sunriver Resort Airport and Bend Municipal Airport also have lighted runways capable of accommodating general aviation jets.lighted runways capable of accommodating general aviation jets.

Find your way in BendFind your way in Bend

Click the Click the map to locate map to locate lodging and lodging and other other services- services-

map courtesy Visit map courtesy Visit BendBend

Regional mapRegional mapBend to key destinations:Bend to key destinations:

Portland, 163 miPortland, 163 mi Seattle, 327 miSeattle, 327 mi Spokane, 386 miSpokane, 386 mi San Francisco, 491 miSan Francisco, 491 mi Boise, 319 miBoise, 319 mi Reno, 406 miReno, 406 mi Salt Lake City, 657 miSalt Lake City, 657 mi Jackson Hole, 683 mi Jackson Hole, 683 mi

Men’s Journal- “best adventure town”

Sunset - “you’ll find Central Oregon’s adventure hub hopelessly addictive..”

USA Today – Bend’s 2nd home seekers go full-time

Business Week- market cools and savvy buyers eye Bend

National & regional media look at Bend

Where to Retire - March/April 2012

Seattle Times - March 2012

USA Today - March 2012

Seattle Times - February 2012

Adventure Journal.com - Fall 2011

Northwest Fly Fishing Magazine -

May/June 2010

Ski Magazine - Feb 2009

Endless Vacation - Sept/Oct 2008

 

Sunset Magazine - Feb 2008

The Old Mill DistrictThe Old Mill District

Photo by Lee Hicks

SSculpture in the main culpture in the main plaza of the Old Mill plaza of the Old Mill District reflects its District reflects its history as the region’s history as the region’s leading timber mill site. leading timber mill site.

An REI store is now An REI store is now housed in the former housed in the former mill’s renovated mill’s renovated powerhouse which powerhouse which retains the massive retains the massive smokestacks of a smokestacks of a previous era.previous era.

Preserving history for todayPreserving history for today

Photo by Lee Hicks

Old Mill stacks above REIOld Mill stacks above REI

Photo ©2010 by Lee Hicks

Old Mill Shops aerial viewOld Mill Shops aerial view

Old Mill on the DeschutesOld Mill on the Deschutes

TThe Deschutes River he Deschutes River once carried once carried massive logs to be massive logs to be milled in Bend. milled in Bend. Now it’s a scenic Now it’s a scenic waterway waterway attracting kayakers attracting kayakers and fly fishers and fly fishers inside the city inside the city limits at the Old limits at the Old Mill District. Mill District. Photo by Lee Hicks

Music on the RiverMusic on the River

A A pedestrian bridge pedestrian bridge connects the Old connects the Old Mill District shops Mill District shops to the Les Schwab to the Les Schwab Amphitheater.Amphitheater.

Bob Dylan, Sheryl Bob Dylan, Sheryl Crow, BB King, Crow, BB King, Willie Nelson, Willie Nelson, Bonnie Raitt, Diana Bonnie Raitt, Diana Krall, Jack Johnson Krall, Jack Johnson and Ben Harper are and Ben Harper are among musicians among musicians who have who have performed on the performed on the river.river.

Photo by Lee Hicks

National retailers in Bend National retailers in Bend

REIREIBarnes & NobleBarnes & NobleCostcoCostcoOffice Max/Office Office Max/Office

DepotDepotStaplesStaplesBest BuyBest BuyWorld MarketWorld MarketStarbucksStarbucksBed Bath & BeyondBed Bath & BeyondOlive GardenOlive Garden

TargetTarget

Home DepotHome Depot

Lowe’sLowe’s

Trader Joe’sTrader Joe’sWhole FoodsWhole FoodsMacy’sMacy’sPier 1Pier 1Old NavyOld NavyWalMartWalMart

GAPGAPVictoria’s SecretVictoria’s SecretBanana RepublicBanana RepublicChicosChicosAmerican EagleAmerican EagleMichael’sMichael’s

Destination resorts and Destination resorts and golf coursesgolf courses Bend and Central Oregon have five major Bend and Central Oregon have five major

destination resorts with multiple golf courses in destination resorts with multiple golf courses in operation, and several others in various stages of operation, and several others in various stages of planning or construction.planning or construction.

There are more than 25 golf courses, including There are more than 25 golf courses, including resort courses open for public play and several resort courses open for public play and several within the Bend city limits.within the Bend city limits.

Bend has excellent memberhip athletic clubs Bend has excellent memberhip athletic clubs with guest privileges that include indoor pools with guest privileges that include indoor pools and tennis courts.and tennis courts.

Bend Real Estate Bend Real Estate MarketMarket

20142014

Market recovers to Market recovers to more sustainable levelsmore sustainable levels

Central Oregon and Bend--the region’s hub-- have long been Central Oregon and Bend--the region’s hub-- have long been known to Northwesterners seeking sunnier climates and abundant known to Northwesterners seeking sunnier climates and abundant recreation variety. recreation variety.

In the recent period of rapid national housing growth Bend was In the recent period of rapid national housing growth Bend was also “discovered” by many buyers from outside the region. also “discovered” by many buyers from outside the region.

A BIG SWING IN 5 YEARSA BIG SWING IN 5 YEARS By the second quarter of 2006 the Bend Statistical Metropolitan By the second quarter of 2006 the Bend Statistical Metropolitan

Area (encompassing most of Central Oregon) led the country in Area (encompassing most of Central Oregon) led the country in housing appreciation according to the government’s Office of housing appreciation according to the government’s Office of Federal Housing Enterprise Oversight.Federal Housing Enterprise Oversight.

By year end 2009 Bend had fallen to last position—299By year end 2009 Bend had fallen to last position—299 thth among among 299 SMAs tracked by the federal agency.299 SMAs tracked by the federal agency.

In 2014, Bend is back in the top 10 of federal housing appreciation In 2014, Bend is back in the top 10 of federal housing appreciation statistics, albeit at prices that reflect a more stable but growing statistics, albeit at prices that reflect a more stable but growing region rather than a “bubble.”region rather than a “bubble.”

Bend housing appreciationBend housing appreciation

National rankNational rank 1 year1 year % % Quarter%Quarter% 5 year%5 year%

2Q 2006 2Q 2006 1 1 +36.65 +7.37 +96.36 +36.65 +7.37 +96.36 4Q 20104Q 2010 293 293 - 7.72 +0.51 -30.09 - 7.72 +0.51 -30.09 3Q 2014 8 +18.99 +4.61 + 7.253Q 2014 8 +18.99 +4.61 + 7.25

Source: Federal Housing Finance Agency statistics for 309 MSAs (Metropolitan Statistical Areas).Source: Federal Housing Finance Agency statistics for 309 MSAs (Metropolitan Statistical Areas).

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Bend rose to the top of the national appreciation charts in 2006 but by Bend rose to the top of the national appreciation charts in 2006 but by 2009 was at the bottom of the statistics. It has emerged back in the top 10 2009 was at the bottom of the statistics. It has emerged back in the top 10 in federal housing statistics, although at median prices reset to more in federal housing statistics, although at median prices reset to more sustainable levels. However, Bend is joined in the top 10 by Modesto, sustainable levels. However, Bend is joined in the top 10 by Modesto, Merced and Stockton in California—all of whom were bottom dwellers along Merced and Stockton in California—all of whom were bottom dwellers along with Bend only a few years back.with Bend only a few years back.

Bend Single Family Home Sales

358,000

299,000

221,000

202,250 200,000

230,000

281,450

300,000

0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

Year

Median price 358,000 299,000 221,000 202,250 200,000 230,000 281,450 300,000

2007 2008 2009 2010 2011 2012 2013 3Q-2014

New home construction & New home construction & sales on upswing in 2014sales on upswing in 2014

Data in chart provided by www.NewHomeSalesdata.com

Home sales by price segments – Home sales by price segments – through YTD Q3 2013 & Q3 2014through YTD Q3 2013 & Q3 2014

Data in chart from Multiple Listing Service of Central Oregon

Home sales by price segment 2013Home sales by price segment 2013

Data in chart from Multiple Listing Service of Central Oregon

Home sales on all lot sizesHome sales on all lot sizes by sub-market YTD Q3 2014 by sub-market YTD Q3 2014

Data in chart from Multiple Listing Service of Central Oregon

Home sales on lots less than 1 acreHome sales on lots less than 1 acreYTD Q3 2014YTD Q3 2014

Data in chart from Multiple Listing Service of Central Oregon

Presented by

R. Lee Hicks Principal Broker Licensed in oregon and Washington

CASCADES SOTHEBY’S INTERNATIONAL REALTY650 SW Bond St., Ste 100, Bend, OR 97702541-383-7600206-953-3041 (primary VM)lee.hicks@cascadesothebysrealty.comwww.cascadesothebysrealty.com

FootnoteFootnote

The information herein is deemed reliable but not guaranteed. Interested parties are advised to seek advice from government agencies and independent counsel regarding land use, zoning, water rights, utilities and other issues related to the acquisition or sale of real estate.

This presentation of the Bend and regional real estate market in late 2014 is intended as an overview of the area’s natural appeal and opportunities, whether as a fulltime working or a retired resident, or as the owner of vacation or investment property.

I enjoy working in Central Oregon and living the lifestyle that I discuss with my clients--fly fishing, river rafting, cross-country skiing, mountain biking, the quality and variety of restaurants, friendly people proud of their community… and many days of sunshine…..Lee

Sotheby’s International Realty is a registered trademark of Sotheby’s International Realty Affiliates LLC. Each Office is Independently Owned and Operated.