Real Estate Auctions

As far as I can tell real estate auctions in Bend Oregon are not that great of a deal for buyers.  I attended an auction of Bank Foreclosures  in SE Bend last week.  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 the 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 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. But there are some great Bank Owned Homes for sale in Bend right now.  There are currently 111 for sale in Bend through the Central Oregon MLS.  If you would like a free list of Bank foreclosures for sale in Bend just fill out this simple form. and I will e-mail one to you.

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 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 Expert.  Jim is licensed by the State of Oregon as the Principal Broker for Bend Oregon Real Estate Expert.