15872 SW Brasada Ranch Rd. (lot #300), Powell Butte, OR 97753
Amazingly offered at just $74,900
UPDATE–As of 10/10/2010, THIS HOMESITE AT BRASADA RANCH HAS SOLD
A Hot Market . . . Brasada Ranch, June 2005
June of 2005, the Bend Oregon real estate market was on fire. And no place was hotter than Brasada Ranch, Jeld-Wen’s beautiful destination resort set on 1800 undulating acres on the southwest flank of Powell Butte,
just 20 minutes from downtown Bend. In one short weekend, enthusiastic buyers scooped up more than 200 homesites at Brasada Ranch. The average price for these one half acre parcels was $313,000.
The situation repeated itself twice more at Brasada Ranch with two innovative and well-strategized “launches” . . . in October of 2005, 66 ranch cabins sold at prices approaching $400 per square foot; in October of 2006, an additional 101 lots at Brasada Ranch with prices comparable to the previous year.
A Buyer’s Market
It’s five years later, and the market has cooled (an understatement), and not just at Brasada Ranch. The once-golden destination resorts are in for tough times. But the tough times mean only opportunity for prospective buyers.
Prices on homesites at Brasada Ranch have hit rock bottom. Sales of distressed properties have been brisk at Brasada Ranch, at prices roughly one quarter of their 2005 value. But weaving our way through the maze of short sales and bank-owned lots has become somewhat problematic.
Not a Short Sale at Brasada Ranch
We currently have a wonderful listing (purchased in 2006 for over $350,000); it was just reduced almost $150,000 and is now priced at just $74,900. . . by far the lowest priced homesite at Brasada Ranch that is not a distressed property.
It’s lot #300 . . . a flat .6 acre beauty on the north side of Brasada Ranch. The homesite at Brasada Ranch backs to open space and features a nice panorama of the northern peaks in the Cascades.
