Many buyers today think that the bank owned home is different than other listings.  That is true to some aspects but not the most important one.  As a buyer you deserve to have your own agent represent your needs in the transaction.  Bank owned homes are no different.  You do not have to use the listing agent, the listing agent is working for the bank and not you.

There are a lot of factors you as a buyer should take into consideration when buying a bank owned home.  Make sure you are represented and have your own agent.  Because of the misnuderstanding from many buyers - I have become a "Bank Owned Buyer's Represnentive."

So, you want to buy an REO (bank owned home)?  Many of the homes selling in Central Oregon are bank owned homes.  Agents across the nation are specializing in these homes, and I am no exception.  I am working with the Buyers wanting to buy bank owned homes. 

As a buyer in Central Oregon having an agent that represents you and your needs is important.  Short Sales, Bank Owned Properties are no exception to a buyer needing their own representation. 

Central Oregon has different issues in different areas - having an agent that knows the area and puts your needs first should be your first choice in buying a bank owned property or a short sale.

Let me help you walk down the road to home ownership whether you choose a bank owned home, a short sale or a reasonably price home.

There are a lot of great loan options for many of these properties.  Many times in today's market you can purchase a home for very little down, and payments very close to what you are paying in rent.  Investors, this is the perfect time to purchase rental properties or vacation homes.  It has been a long time since you could buy a rental home that actually penciled out without a loss, there are a homes out there that can and will rent for the payment amount or more.  Central Oregon is having a great buyer's market - the best in 20 years.

 

The Scam

We are seeing a scary scam in Central Oregon and if has not hit your area it could be any time.  People posing as asset managers claim they need to winterize a home that is vacant and listed as a short sale.  They call the seller or the listing agent and claim to be with an asset management company needing to winterize a vacant home. 

The Method

Upon calling these folks are very persistent and make it seem that they are looking out for the seller and the bank as well.  They explain that they know the home is vacant and that to save the seller the expense of loosing a home with weather related issues.  They claim that if the home is not winterized when the bank takes possession that the seller will be billed for the repairs.  They claim they have spoken to seller and that the seller understands the need.

The Result

Upon gaining access to the home these folks strip it.  They take everything they can – the light fixtures, appliances, heaters, hot water tanks and anything else they can get away with.  They have not only taken these items but sometimes done even more damage by removing plumbing fixtures without turning off the water.

What Can You Do?

As a listing agent of a short sale home you need to realize that you represent the seller – and that unless the seller has given you permission to let the folks in they have no authority.  A bank owned home will not allow early occupancy – this is no different than the bank trying to take early occupancy (if it were the bank).  Seller’s if you are called directly – get the name of the company and contact your lender – check it out.  Do not assume you are being told the truth. 

Central Oregon Short Sale Sellers if you have moved out of your home, you might want to protect the home from winter weather by having it winterized.  If you do not know how please call me I can connect you with someone that can do it for you.  If you have moved out you might want to make it obvious you have not abandoned your home.  Agents, protect your seller and make sure you are serving them properly – click here for my story of this Central Oregon short sale scam.

 

 

It’s Snowing!!!!!

Snow should have been here for some time – Mt. Bachelor generally opens on or before Thanksgiving weekend.  This year we are seeing a late start to our winter recreational season.  Now we just started getting snow today – but it is supposed to be steady for the next several days. 

Planning a trip to Ski Mt. Bachelor and Always wanted a home of your own to enjoy on this side of the mountain?

There has not been a better time in years to buy your vacation home or vacation rental than now.  Have you seen what rates are?  You should see how motivated some sellers are, pricing is great for the buyer plus a lot of great incentives.

River Meadows in Three Rivers South is a great community with the same CC&Rs as Sunriver without the hustle and bustle.

If you love Sunriver and want a home under $300,000 you are most likely a little disappointed in what your money will bring you.  River Meadows is a great community just off of South Century along the Big Deschutes River.  This community has the same or very similar CC&Rs as Sunriver.  A community pool, hot tub and bike paths are also found.  There is a locked storage yard for your RV and the lots are generally larger than your typical lower end Sunriver home. 

Do I have your ATTENTION and Spiked your INTEREST?

This home is located on Lost Rider Loop a very short distance from the river, and yet tucked away a little too.  The seller has lowered the price to a point we should see it sell quickly.  Furnished per inventory (furniture stays some personal items don’t) 3 bedrooms, 2 bath a greet game room or family room with a nice deck this home is a steal at $279,900.

 

 

Looking for a great deal? Many buyers are searching frantically for the bank owned properties in Central Oregon.  I am here to make that search easier for you. 

Below you will find a couple of links that will take you to the current bank owned properties in La Pine and Three Rivers South.  Please keep in mind that our MLS changes every day and new listings come on the market, prices change and buyers buy.  For an up to the minute list please call or email me and I will explain how you can always know what the current status and homes are.

La Pine Bank Owned Properties

Three Rivers South Bank Owned Properties

Many think buying a bank owned property takes longer and is more frustrating than other properties that does not have to be the case.  Let my experience with these properties help you be the proud owner of your new home.

Every year La Pine Oregon has a great show of community support with a Christmas Light Parade.  I can still remember the first one "Trucker's Light Parade."  The parade has seen all kinds of weather and entries, in the beginning it seems that a lot of the trucks passing through this sleepy town would enter. 

As the years have gone by more and more of the community members have joined in.  This event is one of those that many watch from the warmth of their running vehicles.  This year most of us stood along the road side and were pleasantly surprised to find the temperature near 40.

Next year - I hope our company can put together an entry.

If you missed this year's parade you can see it now by clicking on the photo.

Enjoy - if you are thinking of relocating to Central Oregon - this is just one of the event you can expect to enjoy, call or email me and I will share with you some of the other fun things to do in Central Oregn.