Dundee Hills Vineyard Changes Hands After More Than Two Decades

From winebusiness.com

Nicholas Family Vineyards will now be the new name of the estate, Bella Vida Vineyards, after being sold last January 21st for an undisclosed price.

Its new owner, Blair Nicholas, a resident of Olivenhain in San Diego County, settled on Bella Vida after touring multiple properties in the region. A retired attorney, living with his wife LJ, and four children, Blair is looking forward to experiencing the lifestyle and the community of the Dundee Hills.

The sale entailed a residence, which includes a tasting room on the first floor, a barn and farm equipment. However, Blair plans to design a new stand-alone tasting room and a wine cave. The family is also considering building a winery.

On the other hand, the seller, Steven Whiteside, bought the estate in 1996 and planted the vineyard in 1998. Until a few years ago, Whiteside split his time between Arizona, where he made pediatric orthotics and prosthetics, and the Willamette Valley.

Now 70, Whiteside, who loves his community, is now renting a property nearby. He looks forward to seeing the changes the Nicholas family plans to make to the Bella Vida property.

New owners of this vineyard estate were represented by Cascade Sotheby’s International Realty’s very own, Tina Jacobsen and Laura Piccard.

Full article on winebusiness.com


More Generations Are Living under One Roof This Year

2070 NW 113th Ave, Portland, OR 97229
Presented by Jim McCartan and Kayla McCormick | Offered at $1,295,000 | MLS# 20555414

From Keeping Current Matters

2020 changed the way we use our time to where we work, how we socialize and gather together, and our needs at home. This also meant making decisions as to how we can best support and reach out to our extended families.

Some families, with maybe older children who moved back home. While some families, with relatives living in senior facilities, wanted them to move into their home.

These changes led more homebuyers to invest in multi-generational homes to accommodate more long-term plans.  According to the 2020 Profile of Home Buyers and Sellers from NAR, a multi-generational home has adult siblings, adult children over the age of 18, parents, and/or grandparents in the household.

Based on a recent study from NAR, there’s been an increase in purchasing trends for homes since the health crisis began. There are many reasons for this uptick in preference toward multi-generational homes. The top reasons show that buyers wanted to safely take care of and spend more time with aging parents.

Contact a real estate professional if you are in a similar situation to learn more about your local options and maybe even have your whole family under one roof by early next year.

Full article on Keeping Current Matters


Overall Home Sales Rise Nearly 26% From 2019

485 NW Spring St, White Salmon, WA 98672
Presented by England Property Group | Offered at $1,495,000 | MLS# 20673312

From Realtor Magazine

The National Association of REALTORS® reported last Tuesday that existing-home sales in November climbed 25.8% compared to last year.

Existing-home sales include completed transactions on single-family homes, townhomes, condos, and co-ops, slightly decreased by 2.5% in November compared to October’s unseasonably high levels. The slight decrease last month ended a five-month streak of month-over-month gains. Still, all four major regions across the country posted significant year-over-year growth.

Buying frenzy continued to press on housing markets in November. NAR reported that home prices are rapidly climbing up due to the high demand, posting double-digit increases compared to a year ago.

NAR’s Chief Economist Lawrence Yun said that circumstances are far from being back to the pre-pandemic normal. However, the latest stimulus package and with the vaccine distribution underway, and a very strong demand for homeownership still prevalent, robust growth is forthcoming for 2021.

Full article on Realtor Magazine


Single-family Housing Starts Reach Highest Level Since 2007

20377 S Shore Vista Dr, Oregon City, OR 97045
Presented by Brent Gunter | Offered at $3,195,000 | MLS# 20699003

From housingwire.com

According to reports from Census Bureau, single-family housing starts continued their seven-month climb in November, coming in to the highest level since 2007. Housing starts increased by 1.2% in November compared to October and increased by 12.8% year over year to a seasonally adjusted annual pace of 1.58 million starts. Single-family housing starts rose 0.4% from October and 27.1% compared to last year.

The Mortgage Bankers Association’s associate vice president of economic and industry forecasting, Joel Kan said that the report is consistent with other housing data showing that the housing market has substantially rebounded from Q2 of 2020. The demand for larger homes has strengthened because of the pandemic that led to more construction, home sales, and mortgage applications. He added that the permits for new single-family construction also rose to 2007 highs, potentially an indication that we might see the increase in homebuilding continue into early 2021.

Single-family authorizations in November were at a rate of 1.14 million, up 1.3% from the revised October rate of 1.12 million. Actual single-family housing completions dipped again in November, down 0.6% from October’s rate of 879,000 to 874,000.

First American’s Deputy Chief Economist Odeta Kushi said that the rise in housing starts is a welcome sign of new single-family inventory to come and that 2021 may be the year of the homebuilder.

Zillow’s Economist Matthew Speakman said today’s numbers showcase the enduring strength of the housing and homebuilding markets and that builders are overcoming the constraints that have limited activity in the last few months.

The National Association of Home Builders and Wells Fargo Housing Market Index measuring builder confidence faltered a bit this month after three months of record highs, falling four points to 86. But it’s still the fourth month in survey history the score broke 80.

Full article on housingwire.com


The COVID-19 Effect on Bend’s Real Estate Market

Written by: Laura Blossey

11750 NE Canyons Ranch Drive Terrebonne, OR 97760
Presented by Laura Blossey | Offered at $4,500,000 | MLS# 220111416

Bend, Oregon is the epitome of COVID-19 accelerated real estate sales. After only a few weeks’ pause in March from new restrictions, out of town buyers doubled down on Bend as the perfect escape from their respective cities. After evaluating the quality of life and relatively lower cost of living in Bend compared to our feeder markets like the Bay Area and Orange County/ LA, for example, Buyers have been even quicker to move here in the second half of 2020 than in past years.  Why Bend? Buyers are choosing Bend over other markets for many reasons, including the year-round outdoor lifestyle (skiing, hiking, mountain biking, kayaking on the rivers & mountain lakes, golf, horseback riding & more), easy direct flights to West coast markets for ease of visiting clients and friends & family, luxury amenities with a laid back lifestyle, and an overall better quality of life. Bend is the perfect escape from restrictive or chaotic worlds.

COVID-19 set the precedent for working from home, so people started asking themselves, why not work from home in another city? It’s now common for lenders to ask for written proof from Buyer’s employers that the Buyers can indeed work from home in Bend. Contingent purchases are more commonplace as Buyers are willing to put their homes on the market the minute they write an offer on a home in Bend, but even more so cash offers are dominating our sales. Bend has recently been named by WalletHub as the second-fastest growing city in the nation, with COVID-19 clearly a contributing factor.

Examples showing the accelerated growth in Bend since COVID-19 based on sale prices and days on the market (DOM) abound. One of my listings in a desirable neighborhood sold for $905,000 in April, 2020 after 171 days on the market with 2 price reductions. A home on the same street with almost identical specs is currently pending in just 10 days. Listings at all price points have yielded multiple offers – as many as 22! – and are selling for up to $200,000 over asking price which is a new phenomenon in our market since COVID-19.

This graph depicts a sharp increase in median price in 2020 compared to past years during June through September across multiple years. From just the same period a year ago, we saw a 2% decrease in median price in 2019 compared to an 18% increase in 2020. We will continue to be in a strong Seller’s market until new inventory can catch up with demand, but since most people don’t want to leave Bend we’ll rely on new construction to fill the gap.


WalletHub names Bend 2nd fastest growing city in the US

61794 Tam McArthur Loop Bend, OR 97702
Presented by Tebbs & Little Group | Offered at $3,899,000 | MLS# 220102501

From Central Oregon Daily

According to WalletHub’s recent report on 2020’s Fastest Growing Cities in America, Bend ranked second next to Fort Myers, FL.

WalletHub is a personal finance website that compares 515 US cities across 17 key metrics to determine where the most rapid local economic growth occurred over a period of seven years.

The factors considered in the release of this report ranges from population growth to college-educated population growth to the unemployment rate decrease.

Furthermore, WalletHub produced a separate ranking by city size.

Bend topped the report’s rankings for “mid-sized” cities, ahead of Meridian, Idaho, Enterprise, Nev. and Frisco, Texas.

Economic Growth in Bend (1=Fastest-Growing; 258=Avg.):

  • 11th – Population Growth
  • 43rd – Median Household Income Growth
  • 1st – Job Growth
  • 263rd – Poverty Rate Decrease         
  • 10th – Regional GDP Growth
  • 163rd – Unemployment Rate Decrease
  • 1st – Growth in Number of Businesses
  • 11th – Working-Age Population Growth
  • 87th – Median House Price Growth

Full article on Central Oregon Daily