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George Noorey
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George Noorey
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Local News


A Bend Real Estate Agent says it's a seller's market again in Bend.  Agent Kip Lohr with Lohr Real Estate was a guest Tuesday on 1110 KBND's Your Town.
 
 "WE ACTUALLY HAVE A REALLY WEIRD MARKET RIGHT NOW- SUPER DUPER LOW MORTGAGE RATES- BUT REALLY LOW INVENTORY- THERE'S JUST A LITTLE OVER 2 MONTHS OF INVENTORY IN BEND- AND SO ITS KIND OF A FEEDING FREEZY- MULTIPLE OFFERS -  BUYERS ARE FEELING LIKE THEY ARE MISSING OUT- SO THEY ARE OVER-PAYING SOMETIMES A LITTLE BIT- SO WE HAVE A MINI BUBBLE GOING ON RIGHT NOW."
 
Lohr says the average price of a Bend home last year was 230 thousand dollars and that has jumped all the way up to 267 thousand in one year, which is a dramatic increase.
 
He says there is almost no inventory in the lower end of the spectrum, which are homes priced below 150 thousand dollars.  Still, he says there are still a lot of distressed properties that need to be cleared out of the system. 
 
New laws that mandate face to face meetings between banks and borrowers are also impacting how those properties move through the system.  He says banks are now avoiding some of the requirements of the law and the traditional foreclosure process by doing a different process that is more similar to suing someone for a financial loss.   He says its's tough to predict how that may affect the local courts system.
 
Kip Lohr hosts a local call-in real estate show on 1110 KBND on Saturday mornings at 9:30.  The studio line for his show is 541-388-1110.

 

Traffic & Weather

 

 

 

King Solomon Lane closed between Ferguson Road and King David. (7/25)

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

Oregon State University off-site improvements for intersection reconstruction, July 11 – August 3,    7 a.m. – 4:30 p.m., at intersection of Chandler Avenue and Yates Drive.

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 

R.A.B. Construction:

 

Murphy Road and Parrell Road closed with detours. (9/30)

 

Powell Butte Highway at Neff and Alfalfa Market Roads (8/31)

 
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