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Building a Home in Central Oregon

Building a Home in Central Oregon? What You Need to Know Before You Start


At one time or another, most people have imagined building a custom home. They imagine relaxing in the huge spa-like master bathroom or entertaining by the outdoor fireplace overlooking the spectacular mountain view; but to achieve this goal, there are many steps which must take place first. The process might seem confusing, but the truth is, when understood and taken in the proper order, building a home can be a rewarding experience which results in the ideal home.

Buy vs Build

The first step in any building project is to ensure it’s the right step for you and your family in the first place. Building a home takes time and patience. There are some great benefits to building a home rather than buying an existing home. Not only do you have control over the design and style of the new home, but you might also find a lower cost of ownership once you move-in. Everything is brand new; from appliances to heating, plumbing, electrical systems, home maintenance costs will be at their lowest point. New builds also can take advantage of energy-saving products and materials which can have a serious impact on utility costs.

Building Process

One of the first concerns should be time and cost. Estimating these factors will be one of the first things you should discuss with your real estate/building team and will vary widely based on location, materials and personalization. Once you have a budget in mind, then you are ready to begin the home building process.


  • Assemble Your Team – Your home building team will include a select group of professionals experienced with custom home building projects. They will include a real estate agent, home builder and construction loan lender. You will rely on their advice throughout the process.
  • Location and Lifestyle – Location is more than simply a lot with a view. Lifestyle issues such as school districts, community services, ease of access to transportation are still important. In addition, other considerations include the local jurisdiction, topography and lot layout to ensure your home vision can be achieved on that property.
  • Design The Home – This is the fun part. Working with your home building team, you will determine the size, layout, floorplan, fixtures and finishes for your new home.  
  • Construction Review – This is the most important step. Your professionals will package the project and submit for review. During the review process, they city/county will approve the home location, placement, building materials, design, water needs and much more. It’s important to work with a team familiar with this process and how to successfully navigate the process.
  • Final Cost Estimate and Loans – Once your plans are approved, you will be able to receive a final cost estimate, including any changes which happened during the approval process. If you are using construction financing, your lender will now place the construction loan in effect and offer the payout schedule.
  • Construction and Final Approval – Construction of the new home will now take place. Your general contractor will be in communication with you along the way to ensure deadlines, cost estimates and details are completed to your satisfaction and plan. Once the construction is complete, the city/county inspectors will join you to approve the final product.


Building a home from the ground up can be exciting. The first step is to assemble a team of experts who can answer all your questions and help guide you through the process. With home values rising on average 5% in 2018, building a home can be a cost effective alternative to rising home prices.


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Building Wealth in 2018

The following information is provided by keeping current matters.

How Rising Prices Will Help You Build Family Wealth in 2018

How Rising Prices Will Help You Build Family Wealth in 2018 | MyKCM

Over the next five years, home prices are expected to appreciate on average by 3.35% per year and to grow by 24.34% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchases and closes on a $250,000 home this month (January). If we only look at the projected increase in the price of that home, how much equity will they earn over the next 5 years?

How Rising Prices Will Help You Build Family Wealth in 2018 | MyKCM

Since the experts predict that home prices will increase by 4.2% in 2018, the young homeowners will have gained $10,500 in equity in just one year.

Over a five-year period, their equity will increase by nearly $45,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

Bottom Line

Not only is homeownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!

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Top 5 reasons why you shouldn’t FSBO

Top 5 Reasons You Shouldn?t FSBO | MyKCM

In today’s market, with home prices rising and a lack of inventory, some homeowners may consider trying to sell their home on their own, known in the industry as a For Sale by Owner (FSBO). There are several reasons why this might not be a good idea for the vast majority of sellers.

Here are the top five reasons:

1. Exposure to Prospective Buyers

Recent studies have shown that 95% of buyers search online for a home. That is in comparison to only 17% looking at print newspaper ads. Most real estate agents have an internet strategy to promote the sale of your home. Do you?

2. Results Come from the Internet

Where did buyers find the home they actually purchased?

  • 49% on the internet
  • 31% from a Real Estate Agent
  • 7% from a yard sign
  • 1% from newspapers

The days of selling your house by just putting up a sign and putting it in the paper are long gone. Having a strong internet strategy is crucial.

3. There Are Too Many People to Negotiate With

Here is a list of some of the people with whom you must be prepared to negotiate if you decide to For Sale By Owner:

  • The buyer who wants the best deal possible
  • The buyer’s agent who solely represents the best interest of the buyer
  • The buyer’s attorney (in some parts of the country)
  • The home inspection companies, which work for the buyer and will almost always find some problems with the house
  • The appraiser if there is a question of value

4. FSBOing Has Become More And More Difficult

The paperwork involved in selling and buying a home has increased dramatically as industry disclosures and regulations have become mandatory. This is one of the reasons that the percentage of people FSBOing has dropped from 19% to 8% over the last 20+ years.

The 8% share represents the lowest recorded figure since NAR began collecting data in 1981.

5. You Net More Money When Using an Agent

Many homeowners believe that they will save the real estate commission by selling on their own. Realize that the main reason buyers look at FSBOs is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save the commission.

study by Collateral Analytics revealed that FSBOs don’t actually save anything, and in some cases, may be costing themselves more, by not listing with an agent. One of the main reasons for the price difference at the time of sale is: 

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

If more buyers see a home, the greater the chances are that there could be a bidding war for the property. The study showed that the difference in price between comparable homes of size and location is currently at an average of 6% this year.

Why would you choose to list on your own and manage the entire transaction when you can hire an agent and not have to pay anything more?

Bottom Line

Before you decide to take on the challenges of selling your house on your own, sit with a real estate professional in your marketplace and see what they have to offer.

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The Real Reason Home Prices are Rising

The Real Reason Home Prices are Increasing | MyKCM

There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion.

However, the increase in prices is easily explained by the theory of supply & demand. Whenever there is a limited supply of an item that is in high demand, prices increase.

It is that simple. In real estate, it takes a six-month supply of existing salable inventory to maintain pricing stability. In most housing markets, anything less than six months will cause home values to appreciate and anything more than seven months will cause prices to depreciate (see chart 1).

The Real Reason Home Prices are Increasing | MyKCM

According to the Existing Home Sales Report from the National Association of Realtors (NAR), the monthly inventory of homes has been below six months for the last four years (see chart 2).

The Real Reason Home Prices are Increasing | MyKCM

Bottom Line

If buyer demand outpaces the current supply of existing homes for sale, prices will continue to appreciate. Nothing nefarious is taking place. It is simply the theory of supply & demand working as it should.

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The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
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The Real Reasons Why we Buy a Home

We often talk about the financial reasons why buying a home makes sense. But, more often than not, the emotional reasons are the more powerful or compelling reasons.

No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

1. Owning your home offers stability to start and raise a family

From the best neighborhoods to the best school districts, even those without children at the time of purchase may have this in the back of their minds as a major reason for choosing the location of the home that they purchase.

2. There’s no place like home

Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day!

3. You have more space for you and your family

Whether your family is expanding, an older family member is moving in, or you need to have a large backyard for your pets, you can take this all into consideration when buying your dream home!

4. You have control over renovations, updates, and style

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit for your apartment building? Or maybe you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t in your own home?

Bottom Line

Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.

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Here's Your Beautiful Bend Home!

This beautiful home will be on the market July 1st. The only showings will be during an open house being held the weekend of July 16 & 17. This home is a great investment and currently under lease for $1500/month.

1,144 sq ft
3 bed
2 bath
All Appliances included
Professionally landscaped yard
Close to Shops and Trails

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Positive Outlook for Bends Real Estate Market

A report published recently in the Bend Bulletin attribute more disciplined lending and greater diversity in the local economy as two key differences between the today’s market and the one experienced before the housing bubble. These factors imply the market will be better able to handle any downturn. Read the full article here.

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Video tour

The Consumer Financial Protection Bureau announced on Wednesday a proposal to delay the effective date of the TILA-RESPA Integrated Disclosure rule until Oct. 1.

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Real Estate Roundup!

May new home sales gain 2.2% from April

Sales of new single-family houses in May 2015 were at a seasonally adjusted annual rate of 546,000, which is up 2.2% from April, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. — From Housing Wire

3 ways to tame student loan debt and afford a mortgage

It’s no secret that student loans can make buying a home a challenge. But what exactly is the problem, and how can buyers overcome it? The problem is that student loans can be included in the buyer’s debt-to-income ratio, or DTI. — From Bankrate

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2016 First Quarter Sales Statistics

Just received the first quarter sales statistics from COAR and while its a lot of numbers it is very pretty interesting. The report, which you can download below, captures the beginning of the housing market recovery through today. These numbers support the reports that we are currently outpacing the real estate sales boom that was occurring in 2007 before the market crash.

2016 Q1 Sales