Homes for Heroes has been around since 2001. Many do not know about it. Please take a moment and read this. If you are buying or selling with us, I am sure you could use some extra money coming back to you. Best regards,Kevin & Cindy 03/16/2023

For many years we have tracked Bend real estate trends and have consistently watched home prices rise year over year.  Since coming out of the housing recession in 2011, Bend median home prices have risen over 465% from a low of $165,210 in December, 2010 to a high of $775,000 in March of 2022. When the Covid-19 pandemic hit, the rate of Bend home price increase accelerated to over 75% in three years.  This rate of increase was unsustainable and since reaching their high last summer, Bend home prices have fallen. February 2023 was the first month which saw a year over year price reduction in Bend homes.  When  February 2023 Bend single family home sales on less than an acre are compared with those from February 2022, the following changes can be seen: Average sales price down 7% to $82... 03/07/2023

Selling Your House This Spring Checklist Some Highlights As you get ready to sell your house, there are specific things you can add to your to-do list., there are specific things you can add to your sell your house, there are specific things you can add to your to-do list. These include decluttering, taking down personal photos and items, and power washing outdoor surfaces. Let’s connect so you have advice on what you may want to do to get your house ready to sell this season. 02/25/2023

Make Your Dream of Homeownership a Reality According to a recent Harris Poll survey, 8 in 10 Americans say buying a home is a priority, and 28 million Americans actually plan to buy within the next 12 months. Homeownership provides many financial and nonfinancial benefits so the interest is understandable. It is not likely all 28 million Americans will accomplish that goal in 2023. Experts project a total of around five million homes will be sold in 2023. Why is there such a big difference? It’s partly because there can be challenges to buying a home. In the same survey, when asked, “Which of the following are preventing you from pursuing homeownership at this time?”: 34% answered, “I don’t have enough saved for a down payment” 30% answered, “My credit score” If you’re aiming to buy a h... 02/25/2023

Two Big Issues Facing the Housing Market in Early 2023 The biggest challenge the housing market’s facing is how few homes there are for sale. Mark Fleming, Chief Economist at First American, explains the root causes of today’s low supply: “Two dynamics are keeping existing-home inventory historically low – rate-locked existing homeowners and the fear of not finding something to buy.” Let’s break down these two big issues in today’s housing market. Rate-Locked Homeowners According to the Federal Housing Finance Agency (FHFA), the average interest rate for current homeowners with mortgages is less than 4% (see graph below): But today, the typical mortgage rate offered to buyers is over 6%. As a result, many homeowners are opting to stay put instead of moving to another home with a higher ... 02/25/2023

Spring into Action: Boost Your Home’s Curb Appeal To sell your home this spring, it may need more preparation than it would have a year or two ago. Today’s housing market has a different feel. There are more homes for sale than there were at this time last year, but inventory is still historically low. So, if a house has been sitting on the market for a while, that’s a sign it may not be hitting the mark for potential buyers. But here’s the thing. Right now, homes that are updated and priced at market value are still selling fast. Today, homes with curb appeal that are presented well are still selling quickly, and sometimes over asking price. According to Danielle Hale, Chief Economist at realtor.com: “In a market where costs are still high and buyers can be a little choosier, it makes ... 02/22/2023

2023 Spring Housing Market Could Be a Sweet Spot for Sellers Some Highlights The biggest challenge in the housing market is how few houses there are for sale compared to the number of people who want to buy. The number of homes for sale is up from last year but below pre-pandemic numbers, and that means we’re still in a sellers’ market. The housing market needs more homes for sale to meet the demand of today’s buyers. If you’ve thought about selling, let’s connect today. 02/21/2023

What’s Going on with Home Prices? The recent changes in home prices are top of mind for many as the housing market begins gearing up for spring. It can be hard to navigate misleading headlines and confusing data, so here’s what you should know about today’s home prices. Local price trends still vary by market. Markets, where home prices increased dramatically, are seeing larger price fluctuations. The Columbia Gorge region is NOT seeing dramatic pricing variability. The local market is certainly being impacted though, depending on location and market segment. But looking at national data, Nataliya Polkovnichenko, Ph.D., Supervisory Economist at the Federal Housing Finance Agency (FHFA), explains: “U.S. house prices were largely unchanged in the last four months and remained near the pea... 02/20/2023

Why It’s Easy To Fall in Love with Homeownership No matter how the housing market changes, there are some things about owning a home that never change—like the personal benefits it can provide. When you own your home, you likely feel a sense of attachment because of the comfort it gives and also because it’s a space that’s truly yours. Over the last few years, we’ve fully embraced the meaning of our homes as we spent more time than ever in them. As a result, the emotional benefits our homes provide have become even more important to us. As the most recent State of the American Homeowner from Unison puts it: “. . . one thing has stayed the same: the home continues to be of the utmost importance and a place of security and comfort.” The same study from Unison notes: 91% of homeowners say ... 02/20/2023

Closing Cost Facts You Should Know Before you buy a home, it’s important to plan ahead. While most buyers consider how much they need to save for a down payment, many are surprised by the closing costs they have to pay. To ensure you aren’t caught off guard when it’s time to close on your home, you need to understand what closing costs are and how much you should budget for. What Are Closing Costs? People are sometimes surprised by closing costs because they don’t know what they are. According to Bankrate: “Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being financed . . .” In other words, your closing costs are a collection of fees and p... 02/20/2023

Win as a Buyer in Today’s Housing Market  Some Highlights In today’s housing market, you can still be the champion if you have the right team and strategy. To win as a buyer, you need to build your team, make strategic plays, consider what’s in and out of bounds, and stand out from the crowd. Let’s connect today to make your game-winning play. 02/20/2023

Mortgage rates change daily. Here is a website to see a quick summary of changes, on average, nationwide, from the prior day, week, month, and year.  It is just a quick way to get an overview of mortgage rate activity/trends.  The red arrows mean an increase in rates; the green arrows indicate a decrease in rates. Just an FYI if you want to track mortgage rate trends. Of course, you need to speak with your lender to find out their rates, as they will likely differ from the averages shown in the chart. Take care,Mel This is the chart for Feb 17, 2023. 02/17/2023

Why Today’s Housing Market Isn’t Headed for a Crash 67% of Americans say a housing market crash is imminent in the next three years. With all the talk in the media lately about shifts in the housing market, it makes sense why so many people feel this way. But there’s good news. Current data shows today’s market is nothing like it was before the housing crash in 2008. Back Then, Mortgage Standards Were Less Strict During the lead-up to the housing crisis, it was much easier to get a home loan than it is today. Banks were creating artificial demand by lowering lending standards and making it easy for just about anyone to qualify for a home loan or refinance an existing one. As a result, lending institutions took on much greater risk in both the person and the mortgage products offered. Th... 02/10/2023

Rogue Valley Tax Topics: Federal Tax Liens – Part 1Welcome to Part 1 of First Response Resolution, LLC’s discussion on Federal Tax Liens! We are a specialty tax firm located in Eagle Point Oregon and the focus of my practice is solving tax problems for individuals and businesses and representing taxpayers before the IRS and State Departments of Revenue. We offer our services online nationwide from the comfort of our client's homes and will provide services on-site to businesses in our area upon request. As we continue to post additional content, feel free to reach out with specific requests for topics that would be useful to you or your clients.Federal Tax Liens are the government’s tool that they employ to protect their interest in the tax debts owed by American Taxpayers. The lien fil... 02/08/2023

Bend Home Sales Facing New Twists and TurnsThe road ahead for Bend home sales in 2023 is facing many changes from that seen in 2022. Although the fall 2022 Bend real estate market experienced a season of transition with a significant slowing of home sales, the change should be looked at in relationship to the market prior to the Covid-19 pandemic and resulting real estate boom. While the road ahead appears to be in a "slow down" mode, it is all relative to an overall healthy market more balanced between sellers and buyers.When January 2023 is compared with January 2022 for Bend single family home sales, the following changes are noted: Average sales price up 7.9% to $849,680* Median sales price up .3% to $684,950 New listings down 27.8% to 109 Homes for sale up 59.4% to 204 Pending sale... 02/07/2023

Welcome to the first blog post from First Response Resolution, LLC! We are a specialty tax firm located in Eagle Point Oregon and the focus of my practice is solving tax problems for individuals and businesses and representing taxpayers before the IRS and State Departments of Revenue. We offer our services online nationwide from the comfort of our client's homes and will provide services on-site to businesses in our area upon request. The goal of this blog is to provide insight and information that is helpful to real estate professionals and the community at large. As we continue to post additional content, feel free to reach out with specific requests for topics that would be useful to you or your clients.Taxes are complicated and tax problems can be incredibly stressful. The longer th... 02/06/2023

The Hood River-White Salmon Interstate Bridge will be closed to all traffic for four consecutive days, May 19-May 22, 2023. Work crews will perform a complete replacement and adjustment of the counterweight ropes.A big project with a big impact on traffic. More detailed information on the closure is available from the Port of Hood River.Originally constructed in 1924, the bridge is beyond its design life, obsolete, and insufficient for modern vehicles and marine freight. During a 3-day closure in 2022, the bridge replacement partners created a video describing the impacts of such closures and the urgent need for replacement funding, viewable here: https://vimeo.com/storygorge/hrbridgeclosure.For more information, you can also contact the Port of Hood River via email to porthr@gorge.net. 01/30/2023

Think Twice Before Waiting for 3% Mortgage Rates Last year, the Federal Reserve took action to try to bring down inflation. In response to those efforts, mortgage rates jumped up rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans. Today, the rate of inflation is starting to drop. And as a result, mortgage rates have dipped below last year’s peak. Sam Khater, Chief Economist at Freddie Mac, shares: “While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023.” That’s potentially great news if you’re a buyer aiming to jump back into the housing... 01/27/2023

What Past Recessions Tell Us About the Housing Market It doesn’t matter if you’re someone who closely follows the economy or not, chances are you’ve heard whispers of an upcoming recession. Economic conditions are determined by a broad range of factors, so rather than explaining them each in depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says: “Two-in-three economists are forecasting a recession in 2023 . . .” As talk about a potential recession grows, you may be wondering what a recession could mean for the housing market. Here’s a look at the historical data to show what happened in real estate during previous recessions to help prove why you shouldn’t be afraid of what a recession could mea... 01/27/2023

Key Terms To Know When Buying a Home Some Highlights Buying a home is a major transaction that can seem even more complex when you don’t understand the terms used throughout the process. If you’re looking to become a homeowner this year, it’s important to know these housing terms and how they relate to the current market so you feel confident throughout the homebuying process. Let’s connect so you have expert answers for any questions as they come up. 01/19/2023