The buyers are back. As the real estate industry picks up steam around the country in the wake of 2008’s recession, home buyers are once again looking to purchase homes in the high desert. Cascade Sotheby’s International Realty, a full service real estate company with offices in Bend, Sunriver and Sisters, has seen a particular jump in the movement of high-end properties.
“The recession was devastating,” said Cascade Sotheby’s Owner Deb Tebbs. “It was as difficult for us as it was for most people in Central Oregon in the real estate or building industries, but we came out of it because of a lot of strategic business planning and with the help of the community.
“Because I had my landlords work with me on our leases and the bankers work with me on the banking end of things, we were able to come out of the recession in good shape,” offered Tebbs.
While the brand of Cascade Sotheby’s has been around since 1744 when the first auction house was established in the international art business, the Central Oregon story started in 2005 when Tebbs was awarded the Sotheby’s franchise, becoming the 109th International Realty Affiliate Office. She has lived in Central Oregon for over 30 years and working as a full-time Oregon realtor for over 25.
“I had been representing higher end properties in Central Oregon 10 years prior to that,” Tebbs explained. “I thought there wasn’t a brand that offered the services that the Sotheby’s brand offered.” Cascade Sotheby’s prides themselves on providing exceptional services to buyers and sellers throughout the market while delivering the most innovative tools, marketing platform and support for their brokers. Currently ranked first in real estate brokerages in Central Oregon (Per MLSCO records, sales of all property types all areas 11/01/2013 – 10/31/2014), they are also among the top 500 largest brokerages by volume in the United States (Real Trends report).
2014 has proved to be a banner year for the company with significant sales reported in the high-end real estate market. “People are buying lots and building their dream homes again,” she commented, “ and they are hitting the $1.5 million mark.” Tebbs cited several successful sales that have happened this year, including one $2.1 million property located in Tetherow, as well as a property in Crosswater that was their highest sale in six years.
When asked what sets Cascade Sotheby’s apart from their competition, Tebbs said, “I’ve had 20 years in the area, a proven track record and the tools to be able provide our clients with a level of service that no one else can provide. Our management team and Wenday Adkisson, our principle broker, has years of experience and has attracted the best brokers in the area. The success is proven in the amount of transactions for the company; we will sell over $500 million of real estate.”
Tebbs is proud of her hardworking team of brokers in the Central Oregon office, and hopes to continue growing. “I would like to expand into the Portland market next,” she explained.
If real estate is a litmus test for the health of an economy, Central Oregon is thriving.