Bend Bank Foreclosures
Bend Oregon Bank Foreclosures - It looks like 2010 is going the be the best time to buy a bank foreclosure in Bend Oregon. After spending the month of January in Arizona with my wife in our motor home it's back to selling homes in Bend.
Last year I wrote an article in March stating that there were 105 bank owned homes for sale in Bend with 58 pending sales and 50 closed sales in the past 60 days. For the same period this year there have been 97 foreclosure sales closed. That's almost a 100% increase in the number of sales.
Pending sales over the same 60 day period from last year has more than doubled. Last year there were.................Enough statistics!! The fact is bank foreclosure sales have doubled in the last year and inventories are down! Some of the best buys on the market are bank foreclosures.
After vacation in January it's back to work selling real estate in Bend. I closed one bank foreclosure while I was gone and have put two sales (foreclosures) in escrow thus far in February. All three of these sales had multiple offers and two of them sold for more than full price!
There was a new bank owned listing that hit the market last week in one of our most up-scaled areas (Awbrey Butte). There were 4 offers in the first two days on the market and I don't know how many offers there were before it sold. Bank foreclosures are selling quickly and for close to the list price.
That's not to say all listings are selling in the first week. Some of the lenders price their homes too high and they will sit there until they lower the price where it will attract buyers. The average sales price for the homes sold in the last 60 days was 98.92% of the current list price. Some sold for more than full price and some sold for less.
All three of my sales were all cash with no lender involved. I'm personally going to be buying another investment property if the right one comes along. This looks like the year to be buying bank foreclosures in Bend.
If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. Jim Johnson is a Certified Residential Specialist and 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. Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert. E-MAIL or go to Bank Foreclosure Information.
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