Matthew Gilman, Broker with Windermere Real Estate

10/25/2024

Lots of stuff on the ballot this election season. My Facebook is full of extreme views on both sides of all of the political issues. The only thing I feel extreme about is the Levy 9-175. Our new Rec Center will be coming online in late 2025 or early 2026 and we want to make sure that we have the budget to operate it! As the community expands, so to do the costs to service it. RAPRD will be taking on a lot more and also giving WAY more back. Yes it is a "tax," but in this case, you know exactly what your money is going toward. A healthier community with a place to gather! No offense to our awesome breweries, tap houses and restaurant, but having a healthier option is something we all will appreciate! Vote YES on Levy 9-175.

(and to counter anyone that thought there was or has ever been a "bait and switch" - please understand that we asked for this levy at the same time we asked for the construction bond, but it didn't pass...we are all doing what we can to be as transparent as possible, all of our board meeting minutes are online and our meetings are open to the public. Please come and address your concerns in person rather than spreading misinformation online).

10/18/2024

Open House AMAZING RACE tomorrow! Should be a lot of fun. 9 homes with a big prize for the fastest person!

Get your card at 3158 SW 32nd St. and then make sure to stop by 973 NW Upas and visit the best home on the tour ;-).

Good luck racers!

10/09/2024

I love seeing the excitement for the Redmond food scene expressed in this Source article. I was even more enthused by the first line of the article referencing how "young" Redmond residents are:

"Redmond's median age was 36.4 in 2022, compared to 38.3 in Madras, 41.7 in Bend, 42.4 in Prineville, 47.9 in La Pine and 49.4 in Sisters. Oregon's median age overall was 40.7 as of 2022, meaning Redmond is a very young town indeed."

I am just sad that I am so far on the OLD side of that average...oh well, I guess that's just life!

See the whole article here:

With a relatively easy permitting process, a younger demographic and room to grow, restaurateurs and the diners who love them muse on the blossoming culinary choices in a booming town

10/05/2024

Come check out this adorable home now until 2pm! Open House at 973 Upas Ave. Redmond. Best price per sq ft in Redmond for a 3 bed/2bath home under 420k.

10/01/2024

Once in a while you get a perfect client that makes home photos the easiest day ever. This home is NOT staged, it is what it looks like in reality. Only two years old, this property will make a perfect starter or investment home. It is the most economically priced home on the market and ready for its next owner.

Come to the open house this Saturday and get some early Halloween candy and hang out with me and Zia Estrella.

09/19/2024

This past Monday my biggest listing ever closed. This is a huge milestone in my career. I had many jobs before turning to real estate in 2016. I worked for corporations, I worked at start ups and I even started my own business. This job out of all of them has had the most direct correlation between hard work and payoff. I am stoked to be growing my business each year and looking forward to helping even more people in their real estate endeavors!

Thank you especially to the team that helped make this transaction a reality: My awesome sellers, my wife Zia Estrella (marketing, therapy, transaction coordination), photographer Wasim Muklashy Pro Property Photos - Bend Real Estate Photography by Wasim, staging expert Leighton Rickenbach and mentor and teammate Noah von Borstel

I am going to miss visiting this amazing home!
https://www.zillow.com/homes/7980-NW-Grubstake-Way-Redmond,-OR-97756_rb/87760602_zpid/

06/04/2024

Super excited about this listing that recently went live in Redmond. This place has it all. River access, mountain views, single level living, amazing outdoor amenities and huge shop. Check out the video and the listing and let me know what you think!

https://www.youtube.com/watch?v=WLZursAC9e4&ab_channel=ProPropertyPhotosbyWasim

05/30/2024

Super excited that this is finally happening! A project that I have been working on since I got to town in 2015! Groundbreaking is this coming Saturday at 3:00pm. Come out and say hi! I think I am even making a 2 min speech.

Redmond Area Park and Recreation announced a groundbreaking ceremony Saturday, June 1, at 3:00 p.m. The community is invited to celebrate the occasion.

05/16/2024

To all my clients - present, past and future - Tonight is the annual Windermere Block Party! Come on by and get some free food, drinks, music and new this year - SNOW CONES! 821 SW 6th St. Redmond, OR 97756. 4-7 PM

05/02/2024

Inventory of homes is a great indicator of what is going on in the market. I generally have a "feel" for what is going on in the market because I am always out showing homes with prospective buyers, but sometimes I want to back up my "feelings" with some actual data. So I did a deep dive into Redmond real estate today. My thoughts and charts below all have to do with Single Family Residences (no manufactured homes) in the 97756 Zip Code since Jan. 2021.

My theory was that the market is still very competitive in the entry level (450k and under homes) and competitive in the more expensive homes (800k and more), but that "I felt" the middle of the market was getting softer and that their negotiation power for homes between 550k - 800k would likely be higher. The data I uncovered today backs this up in a major way.

First we start with all homes combined: There you will see that inventory has been on a consistent rise since late 2021 (the end of the pandemic real estate rush). The low point was 105 homes and today it sits at 218 - roughly a 100% increase.

The next chart is of homes 450k and below: Here you will see that the inventory remains incredibly low. No real difference between now and its lowest inventory point almost 2 years ago. I have been telling my "entry home" buyers (450k and under) that they have very little negotiation power because the inventory is always low for decent homes in this range. This chart confirms this notion.

Next we see homes between 550k - 800k: This is a drastic difference from the two above. Here we see inventory growth from 24 homes to 103 homes- Roughly a 400% increase! This is why I am saying the negotiation power for buyers of these homes is high!

Lastly I looked at homes over 800k: The inventory here has almost doubled in the last 3 years, but the numbers are still fairly small. What was 21 homes at the pandemic peak is now 41 homes. This number has actually come down a notch since the same time last year, meaning that homes in this range are seeing more competition than a year ago.

Overall, the data shows a highly competitive entry level market, a soft middle market and a strength of market for the more luxury priced homes.

If you want to buy a home and your budget is:

450k and below: the market is unlikely to get better any time soon. If you are waiting for interest rates to drop, you will face considerably more competition and even less inventory

550-800k: You have a chance to get some real deals right now, especially if you are willing to be flexible with your choice.

800k and above: the market is more or less steady, if you have the stomach to wait through the next few months, you may see some deals coming around August when some of today’s new listings have lagged on the market for several months.


The following data is taken from the MLS information 5.2.24 and does not include homes that For Sale By Owner or not listing on the Central Oregon Association of Realtors MLS. My thoughts and theories above are just my opinion and I am just one person with 8 years of real estate experience here in Central Oregon.

If you or someone you know is interested in buying or selling a home, please don’t hesitate to get in touch! I am always quick to respond and happy to take on new clients. Your referrals mean the world to me!