Image provided by: University of Oregon Libraries; Eugene, OR
About The nugget. (Sisters, Or.) 1994-current | View Entire Issue (March 25, 2015)
Wednesday, March 25, 2015 The Nugget Newspaper, Sisters, Oregon R e a l E s t a t e S p e c i a l 13 R e p o r t The state of Sisters Country Real Estate Jim Cornelius News Editor The Sisters Country real estate market is getting stron- ger year to year — while it still faces challenges around inventory and affordability for young families and first- time buyers. “It is continuing to strengthen from last year and years past,” says Kevin Dyer, principal broker at Ponderosa Properties in Sisters. “However, it is still transitioning to a new normal. Inventory is low in compari- son to standard expectations, which I believe actually inhibits some buyer activity due to poor selection. But as values increase, more sellers should be enticed to enter the market.” Jeff Jones, principal bro- ker at Metolius Property Sales said, “The past year has been pretty darn good. The market has stabilized; interest rates are good. It’s a stable mar- ket; it’s not tilting one way (toward buyer or seller).” That overall impression of stability is a consensus point among Realtors in Sisters. Phil Arends of Howells Realty Group, reported 25 sales in the January-March timeframe in 2014 and 28 in 2015. Days on market are fairly consistent, too — 196 in 2014, 222 to date in 2015. “When I look at that, I feel like we’re kind of stable,” he said. Dyer reports that “the majority of recent sales have been between $200,000 and $400,000. However, the majority of active listings are over $400,000.” Peter Storton, princi- pal broker of RE/MAX Revolution, reports that “the high-end homes ($500,000- plus) are struggling,” but that end of the market is also showing signs of strengthening. Geff Kinnaman of Coldwell Banker Reed Bros. Realty reports that “bare land and building parcel sales are also on the rise by four per- cent as compared to this time last year. Now is a great time for folks who have tried to sell unsuccessfully in the last couple years to give it a go istoCkphoto.Com/tanialerro now. There is growing activ- ity and people looking to buy in Sisters.” The things that make Sisters attractive “didn’t go away during the recession,” Storton notes. That means people want to move here — but Storton is concerned about lack of inventory. “ T h e r e ’s a s c a r c i t y of homes,” Storton said. “Hayden (Homes, Northwest developer) has sold every- thing they can build on the property they have … we need lots to put the houses on — and, more so, in a subdi- vision setting (which) is the most sellable.” Jones agrees that inventory is an issue, but he believes the market will adjust itself as it continues to strengthen and sellers feel it is time to act. “I think that’ll naturally take care of itself,” he said. “We’ve got plenty of build- able residential lots; that’s really not a problem.” Local Realtors say that the second-home market remains generally quiescent. However, Arends notes an interesting trend at Black Butte Ranch, where he does the majority of his work. Many prospective clients are “young families in a posi- tion to buy who had some experience with the Ranch (on family vacations).” They are looking to give their See reAl eStAte on page 19 Just what you’re looking for! 290 E. Cascade Ave., Sisters Mon-Fri, 9 am-5 pm | Sat 10 am-4 pm 541-588-6614 | Fax: 541-549-6339 www.metoliuspropertysales.com SISTERS n Downtow 546 E. Jefferson Sisters! 4-bdrm., 2.5-ba. home with quality details on a tree-shaded street close to restaurants, shops, parks. Front porch wel- comes you into great- room. Fireplace, gour- met kitchen, bonus room, luxury master bath, storage. $399,000 Views! Mountain 69340 Hinkle Butte Dr. Wonder- ful home on a 4.85- acre open lot with Cas- cade views. 3,600 sq. ft. shop. Freshly painted, very well-kept home. Large front deck. A must-see property in a very quiet neighbor- hood. $290,000 — Beautiful custom-built home! — 754 E. Coyote Springs Rd., Sisters Located in Coyote Springs, one of Sisters’ premier neighborhoods close to downtown and all its amenities! Large sunny corner lot. Landscaped with covered porch and back- yard porches. Impeccably kept and move-in ready! $565,000 BLACK BUTTE RANCH Golf Home 34 e View! Golf Cours Great home looks onto the third fairway of Big Meadow Golf Course. Quality construction, plank hardwood fl oors in living room. Master on main, large guest suite has own entrance. Ideal for vacation or residence. $685,000 Jeff Jones Linda Brooksby Ross Kennedy 541-480-7201 541-977-4488 Principal Broker Broker Golf Home 212 in! Cozy Cab Wooded 0.4-acre lot with a well-maintained cabin. Stone fi replace in greatroom. Open fl oor plan, lots of windows. Lives large. Master upstairs, 2 bedrooms, bath down. Easy access for disabled. Deck for entertaining. $315,000 Great New Golf Home 275 Price! This home has it all! Newly expanded and remodeled kitchen, stone fi replace, wood fl oors, 4 spacious bed- rooms, 2 deck areas and oversized 2-car ga- rage. Near pool, tennis, and trail. Turnkey with furnishings. $489,000 Ellen Wood Suzanne Carvlin Lana Labuda Kimberly Gorayeb Chuck Harper Doug Roberts Carol Zosel 541-408-1343 541-588-0033 541-595-8707 541-408-4144 541-639-5551 503-915-9417 541-280-6199 503-616-8712 Broker, CDPE Broker, GRI, ABR Broker, RSPS E-PRO, GRI Principal Broker MBA. GRI, SFR Broker Broker Principal Broker GRI, CRB Broker, SRES