If you think all of the news coming out of the housing industry is doom and gloom, think again. A new development near Bend, Ore., closed on 19 homesites in one month for a value close to $12 million or about $631,000 per lot.
Internationally famous golf course architect David McLay Kidd and his wife Jill recently closed on the first homesite at Tetherow, a new 700-acre golf resort community near Bend in central Oregon. They were joined by 18 more buyers in the last month. The 19 lots have a combined value of close to $12 million.
More than 80 Tetherow homesites have already been reserved, with an estimated value of $42 million. Tetherow's success vividly illustrates the continued strength of this real estate market in the midst of a sluggish national economy.
Bend was the country's hottest market in 2006, with price gains of more than 30 percent. This year's 7.2 percent increase in prices for residential lots is the lowest in years, attracting others like Kidd who want to own a piece of Oregon's most popular vacation spot.
Kidd's designs for Bandon Dunes and the Castle Course at St. Andrew earned him Golf World magazine's "hottest architect in golf" title, and the private resort course he designed for Tetherow will open in June. In April he moved his international design company and family to Bend. When fully developed, Tetherow will include a golf academy and clubhouse, hotel, spa and wellness center, recreation center, conference center and 589 homes and townhomes.
For more information on Tetherow, visit or call Brand Director Femke van Velzen, 541-390-2259.
Home sales news is not all bad