Central Oregon News Digest
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The Spring 2009 issue of The Garner Group’s Central Oregon News Digest has been delivered by e-mail to approximately 1,300 clients, friends and colleagues. Compiled from news reports by our staff, the newsletter summarizes events relative to the Bend area real estate market, economic news, major development projects and Central Oregon growth in general.We have been producing the newsletter since early 2006. Initial issues went out by mail, but we soon switched to e-mail as a more effective means of communicating with our friends and clients. E-mail distribution also permits us to keep our list of recipients fresh and up to date. Response has been gratifying, encouraging us to keep the newsletter in a prominent position among the information services provided by The Garner Group.
Please use the sign-up form at left if you wish to keep abreast of economic news in Central Oregon. We’ll make sure you receive future issues without obligation. Download a PDF copy of the Spring 2009 newsletter. Either way, you will be able to read the complete newsletter, highlights of which are summarized below.
Here are some headlines from the Spring issue:
This year is a good time to buy real estate in Bend. Predictions cautiously suggest real estate prices will bottom out in 2009. Meian prices declined in February, but average days on market dropped as well, indicating that buyers are responding to the low price levels. Buy while interest rates are low, brokers advise.What about the stimulus? Mortgage broker Larry Wallace has analyzed the 2009 Homeowner Affordability & Stability Plan and breaks it down by type of buyer. First-time home buyers can receive a tax credit of up to $8,000, for example.
Technology sector growth potential is 'bright spot.' Milkin Institute economist Russ DeVol says Deschutes County can expect jobs in technology and other knowledge-based industries to be a bright spot in the region's recovery. A four-year university would make matters even better, he said.
Bend UGB expansion plan goes to state. City and county officials have signed off on a plan for Bend's long-awaited urban growth boundary area expansion. Now it's up to the Oregon Department of Land Conservation Development to OK or reject the plan, which adds 8,464 to the area inside the UGB. A decision may come by summertime.
Bend fees ratchet upward. The city of Bend is raising planning and building fees in the face of a tight budget. Planning, engineering, building permit and inspection fees will rise in stages.
COCC looks to its land base for income. Central Oregon Community College will ask the city of Bend to create a special plannng district to cover most of the current campus and an adjoining 40 acres being considered for mixed-use development.
Power company joins Junipeer Ridge buyers. PacificCorp has agreed to buy two parcels of land in the city of Bend's Juniper Ridge development for $3.4 million. A substation to supply Junipere Ridge with electricity will be built this year; a new service center will follow when traffic issues get sorted out.
Contractor chosen for new Redmond high school. After reviewing bids, Redmond school district staff has recommended to the school board that Skanska, a multinational company with offices in Bend and Beaverton, be named construction manager and general contractor for the new $80 million high school. Local subcontractors will be hired.
Top bicycle races come to Bend. Two national road and off-road cycling championship events will be held in Bend this year and repeat in 2010. Junior, U23 and Elite Road National Championships will take place July 28-Aug. 2 and the Cyclocross National Championships will follow Dec. 10-13.
Limited development OKd near US 97/Cooley. The development moratorium linked to traffic congestion at US Highway 97 and Cooley Rd. in Bend has been eased by the Oregon Department of Transportation, which will now allow new projects in the area that add no more than 50 vehicle trips through the intersection in the evening rush hour. Adoption of a long-term plan for highway relocation in the area is at least two years away.
COCC bonds headed for November ballot. Central Oregon Community College directors will place a $41.5 million bond measure on the November 2009 ballot. Most of the money willl underwrite a new health and sciences center in Bend.
There's much more. Download a copy.
