Schwing's Sunriver Area Blog

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Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Tue, 29 Apr 2008 02:37:42 -0700

SUNRIVER VILLAGE MALL UPDATE

Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Fri, 11 Apr 2008 09:47:19 -0700

It certainly has been an interesting week here in Sunriver. On Tuesday there was standing room only at Mavericks as Silver Star unveiled their new, and smaller, plans for the Sunriver Village Mall. Some changes they are proposing that are of special interest include: development of 375 condominiums rather than over 500; building the new grocery store on the west side of the mall area (this would allow for the new grocery store to be completed and occupied while not interrupting the service the Country Store provides; no parking garage will be built on the corner of Abbot and Beaver Drives, but will be situated elsewhere (site undetermined, but this was a major objection in the first plan due to the parking structure being the first thing visitors to Sunriver would encounter.Beaver Drive will continue to be the main vehicle artery on the east side of the mall. On Wednesday, Silver Star and Leland Associates (a consulting firm Silver Star has hired) presented the new plans to the Deschutes County Commissioners at the County Building in Bend. There again, the room was full of Sunriver residents and interested parties. The County Commissioners made it clear several times during the meeting that their job is to consider just the zone change, and not the specific plans Silver Star is proposing. The specific building plans would then be subject to Deschutes County and Sunriver Design Review codes and recommendations. No public testimony or opinions were taken at either meeting. That is set to happen at the April 30 County Commissioner hearing. We expect that to be an interesting evening. We will keep you all posted on this very serious matter - not just for Sunriver residents, but much of south Deschutes County.

ROOF SNOW REMOVAL!!!!

Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Sat, 02 Feb 2008 05:56:52 -0800

It's been a while since I have sat down to write in ourblog. It could have something to do with the fact that we have been spending a lot of time outside shoveling the snow from our driveway. It seems that as soon as we finish the driveway, it slides off our roof and onto the deck - and back out we go. But there is good news in that last sentence. It slides off our roof, as we have a metal roof. Meaning that we have less weight bearing down on our roof system and little chance of ice dam damage. What is this, you say? Check out these photos: Sunriver has seen over 5 feet of snow fall so far this winter. With the recent series of storms not allowing any time for melting, we see many roofs with three plus feet of snow on them. Most Sunriver homes have roofs that were constructed to withstand 50 pounds per sq ft of snow load. But damage can happen before we reach that weight. The weight may not collapse your roof, but you might see drywall cracks and pressure on door jambs, making them difficult to open and close. The potential damage that we think is most concerning comes from ice dams. Ice dams are what you see in the first and second photos. With all the snow on the roof there is a huge insulation factor coming from the snow. Some of the heat from your home is still finding ways to escape through the ceiling/attic and roof. The bottom layer of snow on the roof is melting and running down the pitch of the roof. All is fine, until it gets to the overhang that has cold air coming from the bottom. This causes the flowing water to freeze on the spot. With the snow above continuing to melt and flow downward, it forms a dam. This dam can actually cause the water to flow back up the roof and under the shingles or shakes and into the home. This can be a real mess. Back in the winter of all winters (1992/93 when 144" of snow fell in Sunriver) we saw a lot of this type of water damage. Since that time many of the older cedar shake roofs have been replaced by metal and composition shingles (that were not allowed until the early 1990's). However, water can still find its way through these materials.It's a good idea to at least remove the bottom portion of snow and ice from your roof. When the sun does finally re-emerge, it will easily melt the bottom section allowing for non hindered run off for what is above. And with the recent slowdown in building, there are many qualified, insured, licensed & bonded, ready to work construction laborers out there. Call now and take care of business or you may be calling the same fellows to do some interior remodeling sooner that you had planned. Marcus & Connie SchwingBrokerswww.buysunriver.com

Sunriver 2007 Statistics

Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Thu, 20 Dec 2007 07:56:43 -0800

The snow is falling here in Sunriver, Holiday lights are twinkling, and skiers are flying down the slopes of Mt Bachelor once again. It's a good time to take a look at 2007 and see how home sales have been in Sunriver this year.In 2007, 139 Sunriver homes have sold, with sales pending on another 8 homes currently, to make a 2007 total of 147. This represents a 15% decrease in Sunriver sales from 2006, when there were 173 home sales. The median home that sold in 2007 in Sunriver had 3 bedrooms, 2.5 baths, with 1996 square feet of living space. The median list price was $562,500, with a selling price of $555,000. The median number of days a home took to sell in 2007 was 113.In 2006, the median home that sold in Sunriver had 3 bedrooms, 2.5 baths, with 2015 square feet of living space. The median list price was $585,000, with a selling price of $575,000. The median number of days a home took to sell in 2006 was 84.So what does all this mean? Sunriver homes in 2007 took about 30 days longer to sell. Median home prices only dipped 4% in 2007, supposedly a down market year.In summary, we don't see 2007 as having been a down year, but rather a flat year. That has been the findings for most second home markets. For those looking to get into the market, now might be a good time. The statistics seem to show a flat trend. Is it the bottom? It's anyone's guess, but does it have to be at the bottom to be a good deal? Oftentimes, while waiting for the bottom it will slip by without anyone noticing and then it becomes a rising market. Food for thought.....

Thanksgiving in Sunriver

Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Fri, 02 Nov 2007 09:40:24 -0700

Sunriver at Thanksgiving---A great place to be!For those of you who haven't spent a Thanksgiving in Sunriver, you might want to seriously consider it this year. The spirit of the season flourishes, usually enveloped in a coating of fresh snow. Gather the whole family around the fireplace after a day on the slopes, but save lots of time and energy to enjoy the festivities in Sunriver. Thanksgiving weekend kicks off Sunriver Resort's Traditions, a holiday celebration. The Grand Illumination on November 23rd features the lighting of the trees and decorations around the Lodge, along with free sleigh rides, live music, and of course, a visit from Mr and Mrs Claus. Don't forget to stroll through Gingerbread Junction, a collection of over 100 extravagantly decorated gingerbread houses. On November 24th or 25th plan to bring the kiddos and enjoy breakfast with Santa in the Sunriver Lodge North Pole.If you're an athlete (or you over-ate on Thanksgiving Day), participate in the Turkey Trot Fun Run (or Walk) over a 3-mile course that takes you from Sunriver Lodge out to the stables and back. All the winter sports activities will be in full swing so you can enjoy skiing, sledding, snow shoeing, snowmobiling or just strolling through the snow. It's also a great time to look for that perfect vacation home in Sunriver---just stop in our office at Sunriver Realty, and we'll take care of you!!

Caldera Springs - NO payments, NO interest, NO dues

Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Thu, 25 Oct 2007 07:38:07 -0700

That is, until January of 2010. This almost looks too good to be true. But it is what it looks like it is - a GREAT developer incentive. On October 19, the developer of Caldera Springs offered this incentive plan for eleven lots scattered around the relatively new Caldera Springs Resort. As of October 24, seven of the lots were sold. This speaks volumes as to the confidence that buyers have in real estate in Central Oregon in general and Caldera Springs in particular. The average price of the four remaining lots is $360,000. You could put down as little as 10% (that's $36,000 for those without a calculator) and you would get to enjoy all of the amenities that are in place: golf, kayaking, great swimming pool, fitness center, the Lake House with the Zeppa Bistro, bike paths, walking paths, outdoor community BBQ area, and the list goes on. And it's not until January of 2010 that you will have to start paying homeowner dues and interest only payments on the remainder of the purchase price. As if this isn't enough of a bargain - new buyers also receive a $2000 "passport", essentially a charge card to be used in all outlets owned by Sunriver Resort (Sage Springs, Meadows Restaurant & Zeppa Bistro to name a few). And there is more - you can get discounted memberships when joining Crosswater Golf Club. Instead of the normal initiation fee of $40,000, you can join for only $24,000, and pay in two $12,000 installments.If you are thinking like the seven new buyers that this is too good of a deal to pass up - don't hesitate to contact us. We don't think that the remaining four lots will last long. The general sense is that the market two to three years from now will be strong and charging ahead. If you are on board with this mindset, you can't go wrong with this deal.Check out our Caldera Springs' links at our website www.buysunriver.com

Shared Ownership - especially in a resort

Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Fri, 12 Oct 2007 12:17:32 -0700

With the Baby Boomers looking to buy second homes at an amazing rate (inspite of the real estate slowdown) fractional share ownershipis gaining in popularity. Fractional ownership is going strong in many resort towns, such as Sunriver and Caldera Springs. What is fractional share ownership, you ask? It is not a timeshare! You actually are a deeded owner of the property. You own an undivided share of the entire property, right down to the silverware and bath towels. The most common fractional program nationwide calls for eight owners per home with a usage of five weeks. In Sunriver, we most often see four owners or 25% shares with 13 weeks of usage.Think about this - the average amount of time that an owner uses their vacation home is approximately six weeks per year. The average price of a home in Sunriver is $630,000. Why not consider the possibility of using a home as much as you reasonably would plan to and only pay $160,000 for it? And all of the utility bills, taxes, repairs & capitol improvements would be divided by four, as well. Some of you might ask about the possibility of renting such a vacation home and making some money. Well, most resorts tend to be seasonal, and actual rental days is in the 100 - 125 days per year range. Oftentimes renters are not all that careful about how they treat a home while on vacation. Think about the last time you checked out the front end alignment of a rental car vs. pothole (not that I've ever done that). In the case of fractional ownership, you share the home with other invested owners who tend to offer more care than the average renter. Wear and tear / depreciation is held to a minimum.Not only do you get to use a nice vacation home for a fraction of the cost of a whole house, but you get to use all of the amenities of the resort (in this case Sunriver or Caldera Springs) - a pretty good deal!I will say that fractional share ownerships are only as good as their agreement document. When looking into buying a share of a home, be sure to ask for and review this document. If one does not exist, ask for the seller to discuss the possibility of drawing one up with his co-owners. There is value in this document. It will reduce stress and discontentment. A common question is: how are the use weeks determined? or: can we trade weeks? How are capital improvements decided? Does spending of money need a majority vote? Or a super majority?We have represented both buyers and sellers in fractional ownerships in Sunriver. We have some good insight in these products. So, don't hesitate to contact us to discuss this topic.You can see our shared listings on our website http://www.buysunriver.com/

Give them what they want!

Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Fri, 12 Oct 2007 11:34:21 -0700

For those of you looking to sell your home, vacation home, or investment property---what are homebuyers looking for?The National Association of Realtors recently published the results of a survey they conducted of homebuyers (2530 respondents) who purchased a home between late 2005 and early 2007. Among the important findings were the following: Nearly four out of five homebuyers worked with a real estate agent to purchase their home. When searching for a home, the most desired features homebuyers were looking for included air conditioning, an oversize garage, walk-in closet in the master bedroom, and a back yard or play area. Homebuyers indicated they are willing to pay extra for desired features such as air conditioning, two or more full bathrooms, and hardwood floors. Over 90 percent of homebuyers thought energy efficiency was an important consideration in choosing their home. Over half of homebuyers believe their home has high investment potential. The typical home purchased during the survey period was 12 years old, 1840 square feet in size, and had three bedrooms and two bathrooms.With all of the homes that are actively listed for sale, you need to set yours apart from the rest. Why not consider giving the buyers what they are looking for? According to NAR, they are willing to pay more for these features. So, if you haven't listed yet, consider some of these upgrades before you list. If you are currently listed, consider these upgrades before lowering your price.You can find other helpful Buyer & Seller tips on our website www.buysunriver.com

Sunriver Golf Events

Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Thu, 04 Oct 2007 08:11:19 -0700

For golf enthusiasts, this has been a summer to remember in Central Oregon. The Jeld-Wen Tradition was played on Crosswater's award winning golf course for the first time. Thousands of Central Oregonians and visitors lined the fairways to watch the pros, who made it look easy! Following that event, the ladies hit the links in the 2007 USGA Senior Women's Amateur Championship.The season is winding down now, but not before Sunriver Resort hosts the largest amateur golf tournament in the nation, the 11th Annual NW Dodge Dealers Pac AM. This tournament features 725 golfers who will be spread out among nine different golf courses across Central Oregon. This event started October 1st, and will culminate in the Championship round at Crosswater on October 4th. In addition to the 725 golfers, it is anticipated that another 575 family members, friends, corporate sponsors and writers will attend the event. It is estimated the tournament generates approximately $1.5 million in spending in the local economySunriver Resort is well known for its great golf courses, but now it's also becoming a very popular venue for large tournaments! To read more about golf in Sunriver, please visit our website www.buysinriver.com

The LaPine and Three Rivers South Real Estate Market

Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Tue, 02 Oct 2007 16:23:59 -0700

Yesterday we posted a market analysis for the "state of real estate in Sunriver". Today, we are going to look at the outlying areas of Sunriver. MLS identifies the entire area between Sunriver proper and LaPine as Three Rivers South. Included in this area of Three Rivers South are the resort area of Caldera Springs, as well as the gated communities of Crosswater and Vandevert Ranch. The real estate markets in these communities tend to trend similar to that of Sunriver. We will analyze this area known as Three Rivers South, as well as the newest city in Oregon - LaPine. The areas of Three Rivers South and LaPine are very diverse. You can run the range of unbuildable (RV lot only) to a multi-million dollar home with views - and be within shouting distance of one another. Much of the value in properties in these areas is determined first by septic feasibility (a topic worthy of future blogging), next by size (of lot and home), views, condition of neighboring lots, etc. For the most part, the values seem to run on the coattails of what is happening with the real estate market in Bend. When Bend's market was white hot a few years ago, many buyers were getting priced out and sought refuge between Sunriver and LaPine. Not only were homes more affordable, but buyers received more than a postage stamp lot to go with it. With the cooling of the Bend market (can you say a backlog of inventory of both new and existing construction?), buyers are less apt to venture the 20 - 30 miles away from their jobs in Bend. Although a buyer might find a few more square feet of house and land for their money, the convenience of shopping and entertainment seems to carry more weight.Here are some of the statistics: For the period of October 2004 -05 Three Rivers South reported sales of 157 "stick built" homes for an average price of $351,000. The average time on the market was 146 days. By 2005-06 the time on market was reduced by three weeks to 124 days and the average price increased to $373,000. But sales of homes fell slightly to 133. The big chill showed up in 2006-07, with only 72 home sales. There is some encouragement, however, with prices stable at $373,000 and the time on market being similar to that of two years ago, 142 days. With 155 active listings, we have 40 weeks worth of inventory. Time will tell how prices, sales and sellers' patience hold up.LaPine's sales figures show a similar trend. In the hot market of 2004-05 LaPine reported sales of 267 "stick built" homes at an average price of $173,500 with 136 days on the market. In 2005-06, sales grew to 296 and prices increased to $213,000. But in the past year, sales have fallen considerably to 138. Prices have increased slightly to $241,000, a bit of a surprise all things considered. And the sellers need plenty of patience as the average time on the market is currently 189 days. And with 262 homes currently for sale, patience will certainly be a virtue.Going into the fall and winter season, we don't see a big change in the current trending. The snowy winter conditions can make it more challenging to get to some of the properties, and more difficult to appreciate. But we like to be optimistic and are hoping that by spring Bend's market will be coming back to life, inspiring renewed interest in southern Deschutes County. We'll see.If you would like to contact us direct - please do so. Also visit our website www.buylapine.comMarcus & Connie Schwing

The State of Sunriver's Real Estate Market

Marcus & Connie Schwing, Sunriver Oregon (Sunriver Realty) — Mon, 01 Oct 2007 15:44:28 -0700

Now that we have completed the third quarter of 2007, we thought that it would be a good time to provide some statistics pertaining to the "state of Sunriver's real estate market". Many are worried that with the downturn in the real estate market, that now is not a good time to invest in property. We think the information that we will provide will be cause for encouragement for anyone looking to buy or sell in Sunriver.In 2004 the average home in Sunriver was 3 bedrooms, 2.75 baths, 2171 square feet and sold for $439,819 in 126 days. That year saw a whopping 244 homes change hands. In 2005 214 more homes sold in an average of just 90 days, but the cost of owning a Sunriver home increased by 14% to just over $502,000. Not a bad investment, unless you waited another year. In 2006, most "experts" were saying the real estate market was on the down side of the curve. Not the way we see it. The numbers show that fewer homes sold, down to 165. And those sales took a bit longer, 111 days. But the big surprise was that prices increased by nearly 25%, to $627,325!!! The size of the average Sunriver home grew to 4 bedrooms and 3 baths, but was only slightly larger at 2210 square feet.We'd like to tell you that the trend has continued through the first three quarters of 2007, but we can't. All good things must slow down a bit. However, the picture is certainly not one of doom and gloom. So far in 2007 there have been 114 Sunriver home sales. If we continue on this pace, we will have closed on 152 Sunriver homes in 2007. Their stay on the market has risen to 138 days (only about two weeks longer than in 2004). But the really good news is that the price of the average Sunriver home has risen once again to $629,382. We know that this seems to be an insignificant increase, but we believe this to be good news to both Buyers and Sellers of Sunriver homes. Sellers of Sunriver homes can rest assured that their homes should have a Buyer in a reasonable amount of time. Also, if they didn't buy in the past year, the gain from their home investment should be rewarding. As for Buyers of Sunriver homes, this looks like it could be a good time to be a Sunriver Buyer! We currently have a lot of inventory to choose from, with 125 homes actively on the market. The average days on market for those listings is 125 days. If you buy now, you can be in your new Sunriver home for the Holidays. Check out our featured homes and all of the MLS listings at our website http://www.buysunriver.com/