(Guy Tavares, Taylor Tavares-Ewing and Lisa Tavares are co-owners of La Pine Realty, the town’s oldest real estate business | Photo courtesy of La Pine Realty)
“Twenty years ago, you could get a lovely two-bedroom, three-bath house on ten acres of land for $200k or less in La Pine,” said Lisa Tavares. “That won’t ever happen again. Today, a basic home on one acre is $400 – 450k.”
Co-owner of La Pine Realty with her husband Guy, as well as managing principal broker, Tavares noted that the couple — who had their own construction company for 30 years — made the leap into real estate in 2010 (while the market was still recovering from the 2008 recession) by purchasing the business from its previous owners. “The rest is history,” she said.
“There are currently five months’ worth of homes to sell in La Pine, which approaches the industry standard of a balanced market — meaning that just as many homes will be on the market as there are buyers,” Tavares said. “This reflects a move away from a seller’s market, as the more product you have on the market, the more options buyers have.”
“We’ve really seen a mix of buyers — from those who have grown up here, to those coming up from California with tons of money after selling their properties or moving down from Bend in the same financial situation,” she continued. “We’re also seeing fewer retirees (due to the snow and ice that typify La Pine winters) and more younger families, who are looking for prices of $450k and under.”
“Given current market conditions — which I foresee remaining the same for at least the next 12-24 months — we advise sellers that it’s really important to make a commitment to stick in there, and leave your property on the market,” Tavares said. “It’s taking longer to sell than in the past — eight to nine months — compared to two or so years ago when properties were flying off the shelves.”
“Sellers — more of whom are staying in place due to high interest rates — have to be open to negotiating and/or coming down in price. The same advice applies to buyers — don’t be afraid to negotiate — which can even apply to who pays closing costs. (It now takes $20k to $27k to close a loan, compared to $3k when Guy and I started in the business 18 years ago.)”
According to Tavares, who quantified that 75% of her sales are in La Pine, “Things have really changed in the industry since the National Association of Realtors (NAR) settlement last year. For example, sellers no longer have to pay the buyer’s agent a commission — although it’s a good idea to do so,” she counseled.
“And as real estate agents, we can’t even show a house unless a representation agreement is signed with the buyer. It’s all about transparency, and pinning down those who are serious and willing to show their commitment. This is such a positive development in the industry.”
Addressing median single-family home prices between La Pine ($365k) and Sunriver ($1,044k), Tavares feels that disparity partially reflects La Pine’s lack of amenities. “However,” she said, “as La Pine continues to grow, so will the amenities” (recent examples being Walgreen’s, Starbucks and a national auto supply store that are in various phases of construction).
Currently offering the expertise of 12 brokers, La Pine Realty claims to be the oldest and most established real estate business in La Pine. “We’ve worked really hard to get to where we are today,” said Tavares, “and pride ourselves on educating our clients with good information and tools to enhance their buying or selling experience.”
She also pointed out that the company is family owned and operated, with the couple’s daughter, Taylor Tavares-Ewing, having recently been made a co-owner of the business. As Tavares emphasized, “We’re a team.”
