Double-digit price drops for Redmond, Bend homes
Sunriver, Crook County prices rise
The Bend Bulletin
Median Home sale prices in the first three months of 2008 fell almost 12% in Bend and 14% in Redmond from the first quarter of 2007, according to a report from Central Oregon Association of realtors. Bends median sales price- the price at which half the homes sold for more and half for less- for single family homes on less than an acre was $306,500 in the quarter. Redmond's median was $220,000.
Elsewhere in the region, home prices dropped 15.5 % in Sisters, 27.5 % in LaPine and 9.1% in Jefferson County, but prices rose 16.5% in Sunriver and 8.1% in Crook County, the report said.
The number of homes sold in Bend in the quarter dropped 44% to 222 units, and 30.3% in Redmond, to 92 homes, according to the real estate associations report of data provided by the Central Oregon Mutilple Listing Service.
Local real estate officials weren't surprised by the declines in sales and prices, citing more stringent lending requirements, a lack of buying urgency due to excessive inventory, and concerns about the national economy.
The average days a house sat on the market before being sold in the first quarter was 185 in Bend, up 6.3%, and 179 in Redmond, up 20.1%. LaPine had the highest average days on the market at 288.
The regions two highest-priced markets - both Sunriver and Sisters - both maintained year-over-year gains in median sales prices, according to the MLS data.
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Local News About Sunriver Projects;
Sunriver Resort upgrading several of its facilities
Facing ever more competition and not willing to sit on their laurels, Sunriver Resort management has a number of projects in the planning stage or under construction to improve facilities.
The projects include a new horse barn currently under construction;on-going improvements to the rooms in the Lodge Village and the River Lodges; a new trail ride registration building and a new marina building about to start the SROA design review process; completing final details of a contract for a new cell tower near Lake Penhollow; and a significant upgrade of the waste water treatment facility off West Cascade Road.
Room upgrades
The Resort is "freshening up" the guest rooms in both the older Lodge Village and the newer but still almost 10 years old River Lodges. Improvements include replacement of the old bulky television sets with new flat screen TVs, new bed linens, new multi-function shower heads, new makeup mirrors and new accent pieces like lamps and artwork.
Waste Water Treatment Facility
Sunriver Environmental, LLC, a wholly owned subsidiary of Sunriver Resort, has filed with the Oregon Department of Environmental Quality its application for renewal of the sewer company´s operating permit. In its application, the company is proposing a $15-$18 million upgrade of its facilities, raising their facility rating from Level II to Level IV. The upgrade involves replacing he existing open-top concrete treatment tanks that are beginning to deteriorate with age. The new tanks will be designed for the new treatment equipment, and will be completely enclosed, thereby containing most of the odors they generate.
The old activated sludge treatment system will be replaced with a superior membrane technology that will filter out particles measured in microns (a micron equals one millionth of a meter). The membranes are so fine they will filter some bacteria and viruses. According to Terry Penhollow, general manager of Sunriver Environmental, the advantage of the new treatment system is that the treated water coming out of it will be consistently much cleaner. Also, the new system uses ultraviolet light to disinfect, thereby eliminating the need to have hazardous chemicals like chlorine on site.
Finally, because the water is so much cleaner, "buffer zones" around where the water is used for irrigation (e.g., the Woodlands Golf Course) will not be needed as they are now with the plant at Level II or even if it were upgraded to Level III. Penhollow said the ponds at the Woodlands Golf Course will still have some bacteria problems because of the geese and ducks, but the cleaner water will be less "fragrant" and will have much less particulate matter upon which the bacteria can start feeding. Under federal and state regulations, Sunriver Environmental must renew its operating permit every five years. The regulatory agency with oversight authority is the state DEQ. The company was required to file its application, with a plan for what it was going to do over the next five years, with the DEQ by June 1 of this year for review. Once DEQ approves the company´s plan a process that could take anywhere from two weeks to six months � the company will need six to eight months to complete its detailed plans for the upgrade and have them reviewed by the DEQ.
Once Sunriver Environmental has its final approvals, it can begin construction. Estimated construction time is 20 to 24 months. With their application filed, Penhollow said there is little they can do until the DEQ completes its review. He said Sunriver Environmental´s clean operating history and good reputation with the regulators may mean the company gets a quick response. However, he said, with the recent concerns and studies of nitrate seepage in south Deschutes County, the DEQ may require the company to add nitrate and phosphate removal capability or expand their facilities to be able to handle effluent piped from neighborhoods south of Sunriver. Penhollow anticipated some in Sunriver complaining about "their" water treatment facility being poached by "outsiders," but noted it is all one giant aquifer underground, and any nitrates in the ground water to the south will work their way slowly to the wells where Sunriver gets its water.
Once construction has been completed and all the costs have been tallied, customers will see a rate increase to pay for the upgrades. Penhollow explained he can´t estimate that increase now because it will be calculated by a) totaling the cost of the project, once completed, and then b) amortizing it across a 20-year life. The designs won´t be final until the DEQ gives its final approval, the construction contracts are actually signed and the project is completed on, over or under budget.
Penhollow said
he could guarantee customers will see a rate increase in their
sewer bills by the end of this year. Like everyone else, they
have been hit hard by price increases, especially for fuel. He
said that, unlike the water company, the Oregon Public
Utilities Commission has no authority to review sewer rate
increases.
Airport
Sunriver Resort´s airport was built by John Gray and completed in 1968. Not surprisingly, some of its facilities are showing their age. Management is reviewing needed improvements and repairs to the runways and the FBO fixed base operator building. They had hoped to identify sources of public financing to help fund the improvements but, according to Tom Luersen, have had little success to date.
Horse barn
A brand new 5,000-square foot horse barn is being built at a cost of $400,000. The barn is located well away from the road. The project is on schedule to be completed at the end of June or in early July. Once the new barn is ready, the boarded horses will be moved and the existing barn will be torn down.
Trail ride registration
In September, the Resort will begin work on a new trail ride registration building on the site of the old barn. Completion is scheduled for April 2009. Design details are still being finalized and the project will go the SROA Design Committee in July or August. The new building is the first LEED (Leadership in Energy and Environmental Design) project for the Resort. LEED, according to U.S. Green Building Council, is a collection of standards and technical criteria for "environmentally sustainable" construction. The contractor is Sun West Construction.
Marina
Construction on a new marina facility also will begin in September. This too will be a LEED project and is being built by Sun West Construction. The 1,400-square foot facility is scheduled to open for business in May 2009.
Verizon Cell Tower
Resort management and Verizon expect to complete contract negotiations within a few weeks, allowing the cell phone company to erect their long-anticipated tower just east of Lake Penhollow and south of Cottonwood Road. Verizon has completed the land-use review process and received final approval from Deschutes County.
