Resort Living

Bend is home to Resort Living at its best!  The possibilities are endless with many opportunities throughout Central Oregon to own nightly rental investments, second homes and vacation properties.  While visiting  Bend, you’ll discover world class golf course living at Sunriver, Eagle Crest and Pronghorn.  Or you can experience the equestrian lifestyle at Brasada Ranch.  The entire family will enjoy the biking trails and walking paths at Bend’s Seventh Mountain Resort and Mt. Bachelor Village.  Begin exploring Bend and Central Oregon resort real estate!  Request information here.

Explore Bend and Central Oregon resorts by using these links:

Black Butte Ranch Brasada Ranch Caldera Springs
Eagle Crest Mt. Bachelor Village Pronghorn
Sunriver Tetherow

Bend and Central Oregon MLS – Resort Property listings

Resort Property listings (< $300,000) Resort Property listings ($300,000+)

Are you interested in Bend vacation & second home properties, or possibly considering a Central Oregon nightly rental investment property?    Search the MLS for listings of homes, townhomes and condominiums throughout Bend and Central Oregon resorts.  Consider staying at the one you like best on your next Bend visit!  If you’re considering designing and building your dream vacation home at one of our area resorts, search the MLS for all of the available building lots and land in Bend and Central Oregon resorts.

Looking for your favorite Bend and Central Oregon golf course:  Central Oregon golf courses

Bend Oregon Homes Online is your Resort Living Specialist.  Ask us about the 1031 Tax Deferred Exchange options and the investment advantages of owning a second home or vacation property in one of the Bend and Central Oregon resorts.  If you’d like to receive New Resort Listings and detailed property information as soon as they hit the market, we can do that – tell us what you’re looking for and you’ll receive your personalized listings by email.

Resort Living – News

11-3-10On your next visit to Bend and Central Oregon, you will find vacation homes, resort property, townhomes and condos at the Bend area resorts being offered at very attractive prices.  The REO, bank owned, short sale and foreclosure market plus the persistent sluggish economic recovery has had its effect on vacation and resort property values.  This segment of the local real estate market may have hit bottom and appears to have flat lined.  For those who want great investment, rental or second home bargains, contact us today.  Great deals at Brasada Ranch, Eagle Crest, Sunriver and Mt. Bachelor Village are waiting.  Many properties are distressed sale and have the potential of being great buys.11-16-09 TODAYS CENTRAL OREGON RESORT REAL ESTATE MARKETHas the economic downturn had an effect on Bend and Central Oregon’s resort property values? Not as much as it has on Bend’s single family home prices. The Bend and Central Oregon MLS shows property values have decreased in Bend resorts as the number of listings has increased. What’s the reason for the price and inventory changes? The primary reason is there are more MLS distressed property listings now than ever before. In Sunriver, Eagle Crest, Brasada Ranch, and other Bend and Central Oregon resorts, below market priced distressed property is for sale, and is influencing property values. The addition of “distressed resort real estate” listings to the market is the primary factor for lower property values at Sunriver, Eagle Crest and other Bend Oregon area resorts. The value of these resort properties has fallen by 25% to 35%. That’s about 10% less than in Bend and 15% less than some other Central Oregon cities.Bend’s vacation-second home, golf resort and investment property listings has risen across the entire Central Oregon resort real estate market. Potential buyers have asked, “are there numerous MLS distressed property listings at Bend Oregon’s resorts”? Are Sunriver and Eagle Crest foreclosure, REO, bank owned or short sales available? Yes the inventory of distressed listings is ample and there has been an increase of out of area buyer, investor and Bend move up buyer interest. At Sunriver, Eagle Crest and other Bend area resorts foreclosure, REO bank owned and short sale real estate is available and transactions are being written at a accelerated pace. Bend Oregon resort properties like Mt. Bachelor Village and Seventh Mt. Resort are also feeling the effects of foreclosed, REO bank owned and short sale listings. The Bend and Central Oregon MLS statistics confirm Vacation homes, Condos, Time Shares and Fractional Ownership properties in the Bend Oregon area have all been influenced.Sales of Bend foreclosed, bank owned REO and short sale resort properties will continue to rise as Bend’s move up buyers, investors, retirees, and even a few flippers write more and more offers. Unfortunately for shoppers of Bend Oregon resort property or investment real estate, the low pricing won’t last forever. Ask yourself this question. “Should I wait a little longer before buying”? “Will the price of Bend Oregon resort real estate go even lower”? The answer is “No and No”. The inventory of distressed property in Bend area resorts has stabilized and because of renewed interest will soon start downward. With the upturn in sales we  already see prices creeping up. Waiting will surely effect the available selection and pricing. Less inventory and increased interest for Bend Oregon resort property means higher prices in all areas. This holds true for all of Bend Oregon’s distressed real estate markets. Daily Real Estate News  | November 5, 2008
1031 Exchanges: Tax-Deferred, Not Tax-Free
There are many complex rules governing 1031 exchanges, but one of the most important rules is easy to remember: “If you take the cash, you pay the taxes,” said Craig Brown, a vice president of IPX1031 Exchange, which specializes in exchange transactions.

If a seller exchanges one like-kind investment property for another, and the transaction results in any cash for the seller, that amount is taxable-even if the seller is taking on additional mortgage debt.

“Debt does not offset cash,” said Brown, who is based in Dallas.

Capital Gains Concerns

If your client expects to see cash from a 1031 exchange, it may be better to initiate the transaction in 2008, when the capital gains tax rate is only 15 percent, he said.

“You can´t predict what will happen next year to the capital gain rate, but many of my clients are concerned Congress will increase it next year, and they want to take advantage of the current rate,” Brown said.

If an exchange isn´t completed until 2009, the investor may choose to pay taxes on the gain in either 2008 or 2009 under IRS installment sales rules.

What Qualifies as a 1031?

To qualify for a 1031 exchange, a property must meet four basic rules:

  1. Be held for an investment or used for productive purposes in a business.
  2. Be exchanged with a like-kind property (any other type of real estate).
  3. Investor must identify replacement properties for the one being exchanged within 45 days.
  4. Exchange transaction must be completed within 180 days.

While it´s not possible to exchange a principal residence, a recent court ruling has clarified rules that make it possible to exchange a second home or a vacation home, Brown said.

The property must meet these requirements: The owner has held the property for at least two years; rented the property for at least 14 days per year at fair market value; and used the property personally for no more than 14 days of each year.

Dream House Rules

The same ruling spelled out circumstances under which owners could defer taxes when exchanging any type of investment property for a “dream house,” that they will eventually live in full-time.

First, the investor must rent out the dream home for 14 days a year for at least two years, and use it for no more than 14 days per year. At the end of the two-year span, the home could be converted to a principle residence for the owner´s use.

-Mariwyn Evans

Daily Real Estate News  | August 7, 2008

Law Narrows Second-home Tax Benefit

The housing-stimulus package that became law last week took a bite out of the home-sale exclusions for second-home owners.

Under both the previous and the current law, most homeowners can sell their primary residence and exclude as much as $250,000 of the gain if they´re single or $500,000 if they are married and file jointly.

To qualify for the full exclusion, owners typically must have owned the home and used it as their primary residence for at least two of the five years prior to the sale.

In the new law, which takes effect Jan. 1 and affects property acquired after 2008, owners can´t exclude the gain from the sale of the home allocated to periods of “nonqualified use.” That refers to any period (after the end of 2008) when the property isn´t used by the owner, spouse or former spouse as a principal residence.

For example, a married couple buys a home Jan. 1, 2009, for $600,000 to hold as an investment. On Jan. 1, 2012, three years later, they begin using it as their principal residence. They live there for two years and sell the property on Jan. 1, 2014, for $1.1 million for a profit of $500,000.

Under the old law, they would have been able to exclude the entire $500,000 gain from their taxable income. But under the new law, they could exclude only two-fifths of the gain, or $200,000, since the other three-fifths would be considered attributable to the three years the home wasn’t their principal residence.

Source: The Wall Street Journal, Tom Herman (08/06/2008)

Daily Real Estate News  | June 24, 2008

A Commonly Missed Tax Break

Condominium or cooperative residents often miss the fact that upgrades to the common areas of communities can affect the amount of tax an owner pays when the home is sold.

If the property is a principal residence and the owner has lived in it for two of the previous five years before the sale, a big chunk of the profit is already exempt from federal tax - $250,000 for a single person and $500,000 for a married couple.

But the seller will owe taxes on any profit beyond that, and he will owe taxes on the whole amount if the property isn´t a primary residence.

A proportional share of the amounts spent by the condo or cooperative association on improvements to the property - not simple maintenance - can be added to the amount paid for the property, or in tax lingo, “the basis.” The basis is subtracted from the sales price to determine any taxable profit.

“It surprises me that many community association owners are not aware of this tax benefit. Particularly for older home owners who have watched real estate profit build up over many years and now have a profit of more than $500,000, every dollar of capital improvements they can document is valuable,” says Benny L. Kass, real estate attorney.

Source: The Washington Post, Benny L. Kass (06/21/08)

Daily Real Estate News |
March 10, 2008

IRS Releases Vacation Home Ruling

The Internal Revenue Service recently issued a Revenue Procedure ruling that spells out how vacation properties can qualify for 1031 exchanges, which involve the exchange of investment properties.

The guidance aims to clear up the debate about whether vacation homes are investment or personal use properties. The ruling states that the property must be held by the taxpayer for 24 months. The holding period is broken into 12-month blocks, and during each the property must be rented at the fair market rate for no less than 14 days.

Additionally, the owner can use the property for 14 days or 10 percent of the days rented, whichever is greater, plus a “reasonable” number of days devoted to maintenance tasks. Because it is a safe harbor ruling, experts say failing to comply with all the rules does not mean the exchange will be denied or an audit will automatically occur.

However, they underscore the importance of keeping good records of the property’s rental history and the dates the property was occupied by the owner for maintenance.

Source: Realty Times, Gary Gorman (03/06/08)

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