MEDFORD, Ore. — On Thursday, commuters on East McAndrews Road in Medford saw the waterfall at Bella Vista Heights running again and officials say the water flowing is a sign the housing industry is on the upswing.
The land at Bella Vista Heights has been vacant for years, since the housing market crashed 5 years ago. More than 100 lots are up for grabs at Bella Vista Heights and construction on spec eight homes has already begun.
The water fall, often associated with the sub division, was back up and running Wednesday – a sign to many that the housing market is once again flowing through Medford. This area had been vacant for years but has since been bought and construction is underway.
Real estate agents with cold well banker describe the sub division as “first class” and say homes will range from 365,000 dollars to possibly more than a million dollars for homes built on the lots with the highest views of the city.
“It’s a show piece of the city on where we are as a whole. It shows where the market is now, presently, and it shows where the market is going. We’ve had about a 12 percent increase last year in Jackson County, We’re projected to have another 12 percent increase this year.” Clason Whitney owner, principal broker
Medford residents NewsWatch12 spoke with said they enjoy going for a walk in that area and although more people may be in the area now, they know the construction is good for the local economy.
Officials say the first homes in Bella Vista Heights are about 45 days away from being completed and a total of eight are being constructed right now.