TAKE ME HOME
By Abbie + Rick Sams Licensed brokers, Team Sams at Fred Real Estate Group
Home Pricing Strategies
Setting realistic expectations when selling a home “why,” and the goals needing to be achieved. Sometimes it’s most important that the home sells quickly, or sometimes sellers are willing to wait for the right buyer at the right price. Most sellers are hoping for the highest sale price possible, but pricing a home unrealistically high can deter buyers and create a longer time on market than if the home was priced at market value. Sales is a numbers game; getting a home in front of as many buyers as possible will get it sold. A home priced slightly under or at market value will draw the most attention, selling quicker. Unless a home is highly exceptional, pricing above market value will result in a longer wait and will most likely need a price drop before selling. Over the past six months buyers have been trained to think homes are selling fast and at over list price, so right now they might overlook overpriced homes and those that have been on the market a long time. Keep in mind that buyers are shopping online first using set criteria, so consider pricing a home at $499,900 instead of the low $500s, for example, to get in front of more buyers. The market is still strong and the total number of sales have remained consistent, but the uptick in inventory is forcing sellers to become more realistic with their pricing. It’s still a great time to sell and anyone who has owned a home for a few years has generated considerable equity—however, homes aren’t flying off of the shelves right now and pricing strategy is becoming very important again.
HOME PRICE ROUNDUP
Photos and listing info from Central Oregon Multiple Listing Service
<< LOW
60949 Amethyst Street, Bend, OR 97702 3 beds, 2 baths, 1,152 square feet, .41 acres lot Built in 1979 $500,000 Listed by Keller Williams Realty C.O.
Thinking about buying a new home or refinancing? If so, let’s chat. Tracia Larimer
47
MORTGAGE BROKER
NMLS#1507306
Azara Mortgage, LLC
NMLS#1577943
(541) 241-8344
20367 ROCK CANYON ROAD Offered at $349,900
Imagine every aspect of the high desert’s natural beauty–right in your backyard. This cul de sac lot lies within the coveted community Deschutes River Ranch, a 450-acre sanctuary in NW Bend. This incredible .42-acre parcel will be your personal retreat amid this exclusive development adjacent to a pristine section of the Deschutes River. Entertain with the sounds of the rapids and sweeping views of the Cascades and high desert at the community gazebo. Follow exclusive river trails to your own swimming and fishing holes. Just minutes down the road is the quaint town of Tumalo with the vibrant food cart venue,The Bite. Or have a morning espresso in the sun on Tumalo Coffeehouse’s patio. This haven is away from it all, yet only 10 minutes to downtown Bend and westside schools. Don’t miss this once-in-a-lifetime chance for your own slice of heaven!
Call us today!
rickandbeth@melnergroup.com www.melnerproperties.com
541-678-2169
1282 NW CONSTELLATION Awbrey Village Listing
Fabulous home with beautiful views of Mt. Jefferson, Black Butte and Smith Rock. This 4300 sq ft. home has 4-5 BR, 4.5 bath and a 3 car garage. Single level living home, home on top with no steps. 3 BR and office on main floor with exotic Cumaro wood floors, spacious great room, rock fireplace. 1200 sq well-designed accessible guest quarters on the lower level which could be perfect for parent, in- law, home office or to rent out.
1810 NW GLASSOW - BEND
This space has kitchenette, laundry, private entrance. Beautiful and lush landscaping. The Gourmet kitchen has a granite island, eating bar and breakfast nook that opens to a more formal dining area. Tremendous value is being offered for this gorgeous and well-maintained home! Past Tour of homes Award winner.
OPEN HOUSE SAT & SUN 11-1 Offered for $1,650,000 MLS# 220130238
Awbrey Butte New Listing Hard to find single level on large lot, this contemporary home is classy & comfortable! 2260 sq ft. 3 BR, 2 Bath on .57 acre, 3 car garage, beautiful wood details, sun room, 2 fireplaces. Lovely paver courtyard in front facing SE. Natural and low maintenance landscaping beautiful setting and a peaceful retreat less than 10 minutes to downtown Bend.
MID >>
21148 SE Azalia Avenue, Bend, OR 97702 4 bed, 3.5 bath, 2,493 square feet, .16 acres lot Built in 2015 $655,000 Listed by Fred Real Estate Group
OPEN HOUSE Saturday 10-12 Offered for $1,150,000 MLS #220130127
<< HIGH
21305 SW Gift Road, Bend, OR 97703 4 beds, 4 baths, 2,382 square feet, 2.31 acres lot Built in 2013 $949,500 Listed by MORE Realty, Inc.
COLLEEN DILLINGHAM, BROKER 541-788-9991 colleendillingham@gmail.com Call for108, Price 550 NW FRANKLIN AVENUE, SUITE BEND& Viewing
VOLUME 25 ISSUE 35 / SEPTEMBER 2, 2021 / THE SOURCE WEEKLY
T
he housing market has been on fire. With the exception of the “COVID speed bump” which slowed sales during the initial quarantine in late March of 2020, momentum picked up the pace again in May of 2020 and is just now showing signs of slowing. At the beginning of 2021, the housing inventory was incredibly low and homebuyer demand was extremely high. This opportunity let sellers price homes outrageously high and multiple buyers were competing, hoping to not lose out again. It was common to have showings lined up over a weekend resulting in sellers having to wade through multiple offers, usually looking for the highest sales price. However, inventory has increased, in turn offering buyers more options and ability to be selective without too much competition. A clear indicator is reflected with homes accumulating more days on market and numerous price reductions. Determining current market value is the first step in developing a pricing strategy. While there are many different online price guides and estimators that provide a good ballpark number, they are not usually very accurate. Consult with a realtor who has a strong knowledge of the market, neighborhoods and buyer trends. Most agents will utilize an average of all of the recent home sales currently listed and pending homes, while also taking into account many different factors. When pricing a home, it’s important to understand the motivation, the
REAL ESTATE
