What Should You Know About Tetherow?
Tetherow is one of Bend’s newest luxury golf communities. One element that makes it a worthy contender as one of the prime real estate areas of Bend is its Westside location and proximity to Mt Bachelor. It is adjacent to Deschutes National Forest and has a total of 700 Acres. What Makes Tetherow Special?
Besides its location, many of Tetherow’s homesites provide you with superb, Cascade Mountain views and locations along David McLay Kidd’s acclaimed 18-Hole Golf Course. Mr. Kidd has built quite a reputation for himself as the designer of Bandon Dunes, which is considered by many to be one of the world’s greatest courses. He has also been honored with the design of the new Castle course at St. Andrews.
What Amenities Does Tetherow Offer?
Tetherow has finished construction on its 17,000 square foot clubhouse whose amenities include a restaurant, bar, meeting rooms, private members’ locker rooms, lounge area, pro shop, offices and storage facilities. The 18-hole Signature Course has been completed as well as, a 9-hole Executive Practice Course. As Tetherow moves towards completion, additional planned amenities are expected to include a Hotel/Lodge, Athletic Facility, as well as a Spa & Wellness Center.
What Ownership Opportunities exist in Tetherow?
Tetherow is providing a nice cross section of real estate opportunities for investors and homeowners beginning with their 379 custom Homesites. Secondly, there are the offering of Lodge Homes which are pre-planned 3 and 4 bedroom units. The Lodge Homes will allow a homeowner to place their unit into the rental overnight lodging program. Finally a series of Townhomes are planned for those who want a maintenance free lifestyle or perhaps are looking for part time residence in Central Oregon.
What Are The Costs Associated with Tetherow?
Each neighborhood has their respective homeowner dues. Currently the available neighborhoods for sale have HOA dues that are $165 a month. These dues are billed semi-annually. These dues do not include Golf Membership or amenity Privileges. In addition to the HOA dues, all property owners must obtain a Social/Athletic Membership. This entitles homeowners to have full use of the Clubhouse and Recreational Facilities throughout Tetherow, excluding Golf. A Social/Athletic membership’s dues are $125.00 a month until the athletic facility is complete, whereupon the monthly dues will be $175.00. Optionally, you may apply for purchase of a Golf Membership (You must go through an acceptance process by the members). Currently the cost of Membership is $30,000 and the monthly dues are $450.00.
Tetherow is moving in the right direction towards becoming a premiere address in Central Oregon. It certainly has its hurdles ahead of it when you consider the current real estate climate. Because this product is tailored to the luxury home market, there is a certain level of economic buffering that will keep the demand for this type of real estate investment solvent. At this time, Tetherow is considering the possibility of bringing in a luxury hotel chain to manage operation of the planned Lodge/Hotel. I feel this is a wise choice given the fact that Bend and the greater Central Oregon does not have an internationally recognized luxury hotel chain anywhere.
While visiting Bend, many of these high-end buyers will stay in a branded luxury hotel chain if given the option. With Tetherow incorporating such a hotel, this will place many of these prospective buyers onto the property increasing the likelihood of continued lot and home sales. Additionally Tetherow would benefit from the further exposure of national/international advertisement done by the hotel chain to market itself.
Because there are a number of projects that have not started construction, this inevitably raises concerns over whether or not certain facilities will be created or what the finished product may evolve into as time goes on. For those who are buying for the Golf experience, this key feature of the project is pretty much completed. For those who want the extra pampering of a Spa, Luxury Hotel and Fitness Center…time will tell whether these plans come to fruition. I’m going to go out on a limb by saying that they will probably all be built, it is just a matter of when. It would be good to consider too, that as these other amenities become available and the real estate market shifts to a more agreeable atmosphere, prices will begin climbing as well.
I would be happy to consult with you further on any questions or concerns you have regarding Tetherow. As an independent Broker, I can provide you with unbiased insight into an investment in Tetherow. Best of all, should you choose to utilize my expertise as your Buyers Agent, you will receive First Class Service without it costing you a Penny. Protecting your interests is a prime fundamental of the way I do business, and I offer this report as a first step in proving that. It is oftentimes very wise to work with a real estate Broker who is independant of a real estate project. In this way, your interests are exclusively represented. Again, my services won’t cost you a Penny more and I’ll be here for you every step of the way. You are welcome to call me on my personal cell phone at any time. (541) 390-7878. You can also Click Here to send me an email requesting the report.
Tarris Rogers, REALTOR®
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