Deb Tebbs Group

Cascade Sotheby's International Realty

Pronghorn Update! (June 2013) – Key Development Milestones

Below is an email directly from Pronghorn covering the status of new development. Very exciting stuff!


pronghorn-logo

May 24, 2013

RE: Update on Key Development Milestones

Dear Pronghorn Property Owners and Club Members,

Welcome to Summer 2013 at Pronghorn!!! We all are excited to hear from many members about how great the golf courses are playing. A lot of hard work from the maintenance staff over the last 12 months, as well as some cooperating weather early in the season, has helped to accomplish this goal.

I am happy to update you on some key accomplishments and milestones for Pronghorn.

The following are the highlights since the last update was sent to you in February:

Development

–          A new Improvement Agreement (IA) with Deschutes County was finalized in the first quarter of 2013. The new IA brings Pronghorn Resort into compliance with all County codes and ordinances

–          SB Architects was engaged In April to commence conceptual design and planning for the new hotel

–          Overnight lodging facilities, an improved spa, new banquet facilities and other improvements are currently in the early design phase

Pronghorn Club and Resort

–          The Club & Resort is now free and clear of any debt or encumbrances

–          New member & guest transportation fleet delivered in May 2013 (3 Suburban LTZs)

–          New equipment has been ordered for the Fitness & Movement Studio, which ls planned to be in place in June

–          Auberge will announce Pronghorn Lodge facilities in June

–          A marketing and promotion campaign will be launched to promote the lodge and additional resort improvements

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Cascade Sotheby’s International Makes REAL Trends 500 List!

You read it right, Cascade Sotheby’s International had made the REAL Trends 500 list. Read the email we received from Sotheby’s International president and CEO, Phillip White:

Dear Sotheby’s International Realty® Brokers,

I would like to extend my congratulations to our companies named on the REAL Trends
500, an annual research report that identifies the country’s largest and most successful
residential firms as ranked by closed transaction sides and separately by closed sales
volume. REAL Trends, Inc. is a leading source of analysis and information on the
residential brokerage and housing industry.

On the report, issued this month, there were 24 Sotheby’s International Realty firms on
the closed sales volume list and 11 on the closed transactions sides list. We are very
proud of all the companies recognized, and wish you continued success this year:

  • William Pitt/Julia B. Fee Sotheby’s International Realty
  • Premier Sotheby’s International Realty
  • Russ Lyon Sotheby’s International Realty
  • Sierra/Summit/Fuller Sotheby’s International Realty
  • Daniel Gale Sotheby’s International Realty
  • HOM Sotheby’s International Realty
  • ‘ITR Sotheby’s International Realty
  • Briggs Freeman Sotheby’s International Realty
  • ONE Sotheby’s International Realty
  • Aspen Snowmass Sotheby’s International Realty
  • Prominent Properties Sotheby’s International Realty
  • Jackson Hole Sotheby’s International Realty
  • Atlanta Fine Homes Sotheby’s International Realty
  • Gibson Sotheby’s International Realty
  • Jameson Sotheby’s International Realty
  • Ewing & Associates Sotheby’s International Realty
  • Today Sotheby’s International Realty
  • Kuper Sotheby’s International Realty
  • Callaway Henderson Sotheby’s International Realty
  • Pacific Sotheby’s International Realty
  • Heritage House Sotheby’s International Realty
  • Lakes Sotheby’s International Realty
  • Cascade Sotheby’s International Realty
  • Williams Trew Sotheby’s International Realty

Sincerely,
Philip White
President and Chief Executive Officer
Sotheby’s International Realty Affiliates LLC

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Home Sales Creating Optimism in the US

Home prices in the US increased during the first quarter of 2013. This was the fastest surge in prices in almost seven years. The housing market revival has caused major debates within the Federal Reserve. Their current debates:

  • How far their easy-money policies should be pushed
  • Where to go with their bond-buying program, with it’s $85 billion-a-month budget

According to analysts, the bond-buying program is responsible for helping to keep the US mortgage interest rates at such historical lows. It has also helped with boosting the prices of assets, as well as stimulating spending and hiring.

Officials within the federal government have been debating about when it will be appropriate to start winding the program down. They’re concerned that our economy may not be ready to survive without the bond-buying. They fear that the current signs of recovery may be temporary, just like in the past.

On Tuesday, these reports became major factors that drove the financial markets. The strong data encouraged stock investors, sending the industrial average of Dow Jones to new heights. The 10-year Treasury note yields increased to their highest peak in about 13 months, to 2.132%.

This data shows that our economy as a whole is headed in the right direction. But, according to Scott Buchta of Brean Capital LLC, it’s probably not enough for the federal government to scale back on bond buying.

Standard & Poor’s/Case-Shiller also released a national index this past Tuesday. It shows a 10.2% increase in home prices between March 2012 and March 2013. This reflects the highest annual gain since 2006, when home prices began falling.

Also on Tuesday, 30-year fixed rate mortgages inched up to 3.9%. In the meantime, home prices are still 28% lower than they were during the market peak in 2006. Between the low prices and record-low interest rates, homes in the US continue to remain affordable.

Americans consider houses to be our biggest financial assets. So, analysts believe that increasing home prices can really help to boost consumer confidence. These gains will also stop many homeowners from being distressed by being underwater. Increasing prices mean more padding between what they owe on their homes and how much they’re currently worth.

Currently, there are still not enough homes on the market to meet demands. This is intensifying buyer urgency even more. Homebuilders have taken advantage of this situation by building new homes across the US. Eventually, as the supply increases, so will home prices.

As demand continues to outnumber supply, real estate agents have been contacting potential sellers about intense demand in their local communities. They’re becoming more and more aggressive when it comes to keeping homeowners informed about their local market conditions.

Ms. Lee, a condo owner, had been renting out her property to tenants for four years. She listed the unit for sale n April. Within just one week, she received six different offers. When it closed escrow, it went for just above her asking price of $275,000.

Her real estate agent, Mr. Bryan, says he’s sent out 200 postcards to local condo owners. His goal was to flushed out potential sellers. His postcards had one message on the front in big, bold letters, “Got Belltown Condo?”

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