Sunday, July 22, 2012

Distressed Home Sales Fall in Bend

Bend Oregon bank foreclosures and short sales (distressed sales) dropped to a 4 year low for the first half of 2012.  However, they still represented 43% of the total sales.  Bank foreclosures are falling rapidly as more and more banks are allowing short sales.  Short sales can still be a can of worms but if you have an expert broker working for you they are workable.

It's the first time since 2008 that distressed sale in Bend have dropped below 50 percent for the first six months of the year.  It looks like prices are starting to stabilize in the over all Bend real estate market.  While some neighborhoods continue to fall in price some are now rising.

A recent analysis I performed showed homes in the very popular Northwest Crossing neighborhood rose 4% in the price per square foot while the average size of the homes sold fell.  Median price is used a lot my statisticians but it can sometimes be conceiving. The huge homes of the past are not as popular as they used to be.  Plus, smaller homes usually sell for more money per square foot. 

A market analysis I did for a client yesterday on The Parks at Broken Top showed there were only 3 homes currently for sale in that neighborhood and there were 5 pending sales.  There had been 17 homes sold within the last year in the Parks.

We looked at a very nice home Friday and my client was considering making an offer.  It had been on the market 7 days.  In checking with the listing agent I found it had two offers on it of which one was accepted.  It sold the first week.  We are currently seeing multiple offers on homes that are priced well.

If you are interested in foreclosures or short sales click on the following link and you can search the Bend Oregon Multiple Listing Service.  or visit our web site for more information.  Bend Oregon Real Estate Expert.

Thursday, July 5, 2012

Bend Oregon Bank Foreclosures Are Selling Fast

Bank foreclosures in Bend Oregon are selling fast.  It looks like we are seeing the bottom of the real estate market here in Bend.  We are seeing multiple offers on new listings that are priced right and not just bank owned homes either.  Here's a YouTube video on foreclosures.

If you are in the market to buy a home in Bend you should consider bank owned homes.  The number of bank owned homes on the market is going down however.  There are currently only 20 homes for sale in Bend with 47 pending sales in escrow waiting to close.

Interest rates are at an all time low and prices are over 50% below 2006 prices.  Now is the time to buy.  You can see a current list of bank owned homes for sale on our web site.  The list is updated daily!   Call us today.  We are experts in helping our clients find and negotiate a good price on bank owned properties as well as conventional listings.