Foreclosures vs. Short Sales

Bend Oregon Bank foreclosures  continue to be the best buys on the market.  There were 41 Bank owned homes sold in Bend over the last 90 days vs 32 short sales.  The average price per square foot was $115.11 for foreclosures and $138.10 for short sales.  Regular owner sales sold at $139.29 a square foot.

There is no good reason to get tied up in a short sale.  They take from 2-6 months to close if they ever close.  Buyers have the false hope that the bank will approve a short sale at a really low price.  The numbers show that is not the case.  In fact regular owner sales averaged $139.29 a square foot. 

My son/partner Matt Johnson had an offer in on a short sale for a client along with 4 other offers.  After waiting several weeks the bank refused all offers and they are now foreclosing.  Sometimes the bank won't allow a short sale because of the financial position of the seller.  Short sales are a waist of time!  Bank foreclosures are the way to go!  There are currently 114 bank owned homes for sale in Bend.

If you’re serious about buying Bend Oregon real estate you should sign up for Jim’s free New Listing Notification Service or call or e-mail Jim today.  Jim Johnson has been selling quality homes in Bend Oregon since 1981. Call 541-389-4511 or see his web site to search the MLS - Bend Oregon Real Estate Expert.  Jim is licensed by the State of Oregon as a Principal Broker for Bend Oregon Real Estate Expert.