Here you have access to the
Latest Information on Bend Oregon Bank Foreclosures:
- Bank Owned Homes,
REO Marketing
- Bank Foreclosures, Repos and Short Sales
- VA Foreclosed Homes and
- HUD Foreclosed Homes
Here's a LINK to all Bank
Owned Land currently for sale. This link is updated
daily.
E-mail
List of Bank Foreclosed Homes for Sale in Bend
and the surrounding Central Oregon area,
including Bend, La Pine, Redmond, Sisters, Sunriver, Prineville,
Terrebonne, Three Rivers South and other neighboring towns and cities.
We specialize in the sale of Bank Foreclosures, Foreclosed homes,
REOs and short sales.
Call today to sign up for our Bend Oregon Bank Foreclosures
and Short Sale automatic e-mails. You'll receive these great buys
as
soon as
they
hit the market. Buying foreclosures is easy with our instant e-mail
notification. Stay on top of the foreclosure market and see all of
the foreclosures the very second they come on the market.
Bend Oregon REO Marketing
1. Quick closings.
2. Top market value.
3. Discounted Escrow Fees to increase net profit.
4. Free professional inspection upon listing to avoid sale fails.
5. Professional service from BPO to close of escrow.
6. Quality virtual
tours on each property.
7. Aggressive REO marketing.
8. 33 years experience.
9. Weekly e-mail reports.
Above are a few reasons corporations us our REO
Marketing program. We close our sales quicker
with higher net proceeds to our clients. Jim is a Certified Residential
Specialist and makes
asset disposition look easy. Feel free to contact Jim
Johnson, CRS for a full marketing packet
or a personal presentation.
Bend Oregon Bank Foreclosure Update
Bend Oregon bank foreclosures seem to be a hot commodity these days.
They are selling at a rate of almost one per day. There are currently
105 bank owned homes in Bend for sale through the Central Oregon
Multiple Listing Service.
There have been 50 bank foreclosures sold
in the last 60 days and there are currently 58 pending sales that
should close within the next 30 days or so.
These numbers represent homes in the Bend area only.
They do not include town homes, condominiums, and bare land, commercial
or industrial
property. Foreclosures nation wide are up 30% over a year ago according
to the Bend Bulletin.
Bank foreclosures will not stop soon but I
think we will be seeing a decreasing number of them for sale. Several
of the major lenders have temporarily halted all foreclosures.
The 58 pending sales are not
included in the 105 that are listed for sale! The homes sold in
the last 60 days averaged
87 "days
of the market." Days on the market can be misleading because
there's usually 30-45 days between the time a listing goes pending
and it closes.
So most bank owned homes are in escrow and off
the market in less than 60 days from the time they hit the market. Two bank owned homes just went pending on Awbrey Butte, one of
Bend's most desirable residential neighborhoods.
One sold in
less than a
week. The other was on the market for several months. The good
properties that are priced right sell quickly. The last 3 offers
I wrote on
foreclosures had multiple offers on them.
The banks on the average
are taking 95.6% of list price. Some are selling over list
price where there are multiple offers and the list price is low.
One thing that is confusing buyers in our real estate market
in Bend is short sales. A short sale is a property that is
listed for sale
at a price that is below what the seller owes the bank.
All
short sales are subject to lender approval. Short sale listings
are
misleading
because some of them are listed at an unrealistic price which
is below market.
There is no way a lender will allow a sale
and take
huge loss on a sale that is under current market values.
If you are looking to buy a home my advice is to avoid short
sales and concentrate on bank foreclosures. You can get tied
up in a
short sale for up to six months. An offer is made and accepted
by the seller.
Then it is submitted to the lender. The lenders can
take months only to come back with a counter offer that is unacceptable.
Some lenders
will not take any offer because the seller has too much income
and too many assets to justify the short sale.
Another avenue to buy a bank foreclosure is at an auction.
However, as far as I can tell real estate auctions in
Bend Oregon are
not that great of a deal for buyers.
I recently attended
an auction of one lender's foreclosures in SE Bend. There
were
six properties
up
for auction. The bank had a "reserve" on all
of these homes. If they didn't get their price they wouldn't
sell. Not
all the homes
sold.
One of my clients had his eye on one of these homes. All
the homes were supposed to be open for viewing 2 hours
prior to
the start
of the auction which was held at a different location.
My client waited
until 30 minutes before the auction and the house he
was interested in was still locked up. He never got to see
the inside.
The home in question had previously been listed for sale
by the bank in the Central Oregon MLS for 208 days.
It was listed
for
$172,000
and did not sell. The listing expired and the home
was put up for auction.
It ended up selling for $160,000
plus a 5%
premium
which
put the sales price at $168,000! I'm sure if someone
had offered $165,000 while it was listed the bank
would have
taken that
offer.
My point is that auctions aren't
that good of a deal for buyers.
However, 99% of the time these homes go to the
lender in 1st lien position.
It's usually a waste of time to attend these
auctions. One good reason not to buy these homes is that
you do not have
an opportunity
to
see inside or have any type of inspection.
The Central Oregon Multiple Listing Service
receives the bulk of all bank owned homes
as soon as they
are put on
the market.
These
listings as a general rule are priced very
well.
Sometimes they are as low as 50% of
the sales
price a couple
of years ago. There
is
some good money to be made today in Bend
Oregon by buying bank foreclosed properties.
Bend Oregon Real Estate
If you need to negotiate a Short Sale in Bend Oregon - Jim Johnson, Realtor, Designated Broker and CRS is the best qualified to help you with your transaction from negotiating the best price, writing the contract in your best interest. His real estate knowledge, experience and professionalism are what you need to make your real estate sale an easy one.
BEND OREGON BANK FORECLOSURES
Who better to tell you how to negotiate the best deal possible
than someone who knows how the Bend Oregon Bank Foreclosure system
works. Foreclosures are becoming on the market almost daily. If
you want to buy a foreclosed home to live in or several foreclosures
for investments contact your Bend Oregon Real Estate Experts today!
Bend Oregon Bank Owned
Homes
New Repossessed Homes for Sale or Short Sales. We
can help you get the best deal possible. As top
Real Estate Agents in the Bend Oregon and Central
Oregon Area, we are expert negotiators. Your transaction
will be handled with service you can trust and the professionalism
you deserve.
Looking to Sell your Home in the Bend Oregon or Central Oregon Area?
Let our experience and specialized marketing systems which we've
use to sell homes in Bend Oregon since 1981 work
for you and get the most money for your home in the time frame
you need. Our marketing program will get your home sold. We specialize
in working with Banks on Short Sales and Foreclosures.
Bend Oregon Bank Foreclosures
As a Certified Residential Specialist - the residential
real estate industry’s most advanced “degree,”My
knowledge of the market will help save you time and money. Contact
us today with your questions about Bend Oregon Bank Foreclosures,
Bank Repos and Short Sales. Call Jim Johnson CRS.
Properties in Default - Pre-Foreclosure - Bankruptcy - Divorce - Probate
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Bend Oregon Bank Foreclosures
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