March 2020

 

COAR Begins Remote Work Today
Yesterday, all members received an email about the closure of the COAR office and how we are going to continue to serve COAR members going forward. Please click here to read the email. Please be sure those in your office know that we are still maintaining all services to the best of our abilities at this time. Email is preferred, but we all have our office phones set-up at home now and will answer (M-F, 8am-5pm).

COAR commercial event cancellations
Due to the growing COVID-19 pandemic, all COAR commercial events have been cancelled until further notice. This includes the April 3rd marketing meeting and April 7th Commercial Roadshow in Redmond. These are unprecedented times and we appreciate your understanding as we all work to help curb the spread of COVID-19 and protect our communities. Please watch COAR emails and announcements for new event dates once gatherings are again deemed safe. 
 
Update on MLSCO Conversion from Rapattoni to Flexmls
On Wednesday, we notified all members that we will be extending our Go Live date to Flexmls to April 27th. We will remain in parallel until then. On April 27th, all input and changes will take place in Flex and Rapattoni will go into a read-only mode.  Rapattoni will only be in read-only mode from April 27 - May15, at which point it goes away and will no longer be accessible to members. Please click here to view the email.

This gives everyone more time to take our live webinars here or recorded webinars here. With this extra time, everyone should be familiar with the system before April 27th. It may be several months before we can resume in-person live training.

Connect from your desk: Share haves, wants and more with CO-CRE
While our opportunities to network in person are currently limited, we encourage you to take advantage of tools like CO-CRE. CO-CRE is an email forum for commercial brokers designated specifically for commercial listings and opportunities. Share listings, haves, wants, opportunities, discussion – this is your forum to connect with fellow commercial brokers. CO-CRE is open to members of COAR. If you haven’t signed up yet, visit coar.com/co-cre to join.
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Congratulations, Walt Ramage: 2020 Commercial Transaction of the Year
The COAR Commercial Committee has selected Walt Ramage’s Les Schwab transaction as the 2020 Transaction of the Year (TOY). The subject property for Les Schwab Tires’ new flagship store is a city block located in the Bend Central District consisting of 10 tax lots between two owners. The transaction presented a number of unique challenges and required vision, creative problem-solving skills and tenacity to close. Walt will be presented with the TOY Award at the 2020 EnCOAR awards – date TBD. Congratulations, Walt!

NAR survey highlights impacts of COVID-19 on commercial market
Yesterday NAR released the results of an Economic Pulse flash survey examining the impact of COVID-19 on the real estate market. Delivered to a random sample of NAR members, the survey highlighted some trends and implications for commercial real estate resulting from the global pandemic. The survey found that more than half of commercial members, 54%, have seen a decline in leasing clients, up from 18% of commercial members when surveyed last week. Eighty-three percent of commercial buildings have changed practices, with the most common being offering more hand sanitizer, more frequent building cleanings, and increasing numbers of tenants working remotely.
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Bend City Council takes $190 million transportation bond off May ballot
In light of the growing COVID-19 pandemic and the ensuing economic uncertainty, the Bend City Council voted unanimously Wednesday to pull a $190 million transportation bond off the May ballot.
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Top 5 data needs for researching commercial properties from RPR
Cash flow analysis, demographics, economic indicators and in-depth property details make up these go-to RPR commercial tools, all designed to help REALTORS© succeed. 
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City of Bend considering multi-unit housing tax exemptions
During its March 4th work session, the Bend City Council received an update on potential property tax exemption programs to spur development of multifamily housing, including a Vertical Housing Development Zone (VHDZ) and Multi Unit Property Tax Exemption (MUPTE). Councilors supported further evaluating the options and soliciting input from Council-appointed committees on the MUPTE.
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