June 16, 2008
Luxury Real Estate - Million Dollar Houses Sticking in Oregon
The harshening of conditions in the Luxury real estate market has prompted one real estate agent to get off her tush and try doing something about dropping interest in million dollar plus homes in Oregon
Photo Credit - Anthony Dimaano/ The Bulletin
Faced with falling interest in some of the million dollar properties listed, realtor Sophie Bielefeld invited local agents who specialize in houses priced at over a million dollars to join her “luxury property network.”
The group meets once a month to discuss ways of creating interest in their listings, and although no sales have resulted from the network just yet, Ms. Bielefeld, who is also a property developer seems hopeful. “The Bend Bulletin,” a central-Oregon-based online newspaper reports:
The number of luxury homes or properties worth $1 million or more has increased in Central Oregon in the past decade due to rising property values, rising construction costs and demand from new residents and second-home owners, Bielefeld said.
It’s not just sprawling homes or 10-acre properties with spectacular mountain views that are rising in value, however. Bielefeld said the cost of land in some areas has risen so much that even large homes without luxury upgrades may reach $1 million in valuation by the time construction concludes.
Bielefeld said there are approximately 165 properties on the Central Oregon Multiple Listing Service for homes, or homes with acreage, worth $1 million or more. Sales of those homes jumped in 2004 during the housing boom and reached a high of 95 last year, according to the Central Oregon Association of Realtors.
According to a report published by the Bratton Appraisal Group, based in Bend, there are currently 104 single family homes priced at more than $1 million in Bend. Based on sales over the previous year, this equates to a thirty month supply. Six months’ supply is considered normal.
The Luxury Property Network has a blog here. It’s just a pity they are not based in Arkansas. The Luxury property in Arkansas domain name is still available.
Filed under Luxury Real Estate Marketing by Mark Knowles
Comments on Luxury Real Estate - Million Dollar Houses Sticking in Oregon »
Hello, I work with a company that has just launched a new website for Pronghorn’s Tesana neighborhood, and we’re seeking feedback from luxury real estate professionals about the site and the neighborhood.
Our challenge was to elicit the idea of elegant, ecological, indoor-outdoor living in an intimate, artistic neighborhood. The properties have spectacular Tom Fazio Golf and Cascade Mountain views, and each comes with the buyer’s choice of seven exclusive Pronghorn-commissioned Bassenian Lagoni home designs. In Tesana, art and soul combine to create an exceptional leisure lifestyle. Building sites range from $375,000-$700,000; built-out, they’ll be from $1 to $1.6 million. Pronghorn Homes services helps to create home interiors that reflect owners’ personalities, ranging from eco-luxury minimalism to rich rustic Tuscan, or anywhere in between. Buyers can be as involved as they wish. With prices from $1 to $1.6 million in Pronghorn, and stylish influences of Frank Lloyd Wright with traditional Tuscan, the homes are an exceptional value.
Pronghorn is located just outside Bend, Oregon, and it’s surrounded by 20,000 acres of protected federal land. The development is the first in the West to offer a Jack Nicklaus Signature golf course side-by-side with a Tom Fazio golf course, as well as the Nicklaus Academy at Pronghorn powered by TaylorMade.
Would you please visit the website at http://tesanaliving.com and let us know your opinion of the site, and what would inspire you to sell homes there? Thank you,
Either add your comments here, or email info@widefoc.us.
Thanks!