WHY THE LACK OF FORECLOSED PROPERTIES ALL OF A SUDDEN?

If you are a buyer interested in purchasing foreclosed Central Oregon real estate, you may have noticed that there are few all of a sudden? This is not by chance. Here's the scoop:





Due to a recent court case, banks must now "prove" ownership of real estate properties they have foreclosed on in order to sell these properties with insured titles to buyers. (Obviously this is the Reader's Digest version of what is going on.) With all the massive foreclosures taking place and with loans being bundled and sold, title transfers on foreclosed properties often have not been recorded properly as of late. So many pre-foreclosed property owners have received rescission notifications. These foreclosures were for non-judicial foreclosures which means the banks are not suing the sellers for the deficit -- this has been a real great deal for sellers in default. Banks will be restarting the 120 day foreclosure process when a clear title has been properly recorded. It is very possible that banks will come back with a judicial foreclosure notification which would not be good for the default seller.





What does this mean for you?





If you (or someone you know) are a seller of a "short" or delinquent property, you should focus on using this extra time to successfully short sale your default property. Avoiding foreclosure is to your financial advantage and avoiding judicial foreclosure is also to your financial advantage. So, get it sold!





If you are a buyer, less foreclosed properties will be available to you. More short sales will be for sale but now banks should be more motivated to sell these short sale properties. If banks approve short sales, they will get more money, they get their money faster and without law suit possibilities.





Also, less foreclosures means less properties for sale. Fifteen percent less. For sellers, this could be good. For buyers, there will be less selection and less motivation by the seller to accept less than full price offers.





Does this mean our values will stabilize? I personally don't believe these events reflect a stable market.....just more craziness which leads me to believe even more craziness is to come. SO, chin up! Smile! And, Hang on Partner!


Contact Teri Green for more information at (541-350-8424) or email at greent@hasson.com

OR you can visit my website at www.BendOregonRealEstatePLUS.com

All the Best!

Teri

Tillacum Village Remodel!

If you enjoy Tillicum Village in Bend Oregon, you will want to check out this home. Copperline Homes LLC has done a fantastic job with this remodel. It's on a large lot with common area yards, large trees and a rustic high desert feel when you walk thru the neighborhood.

In contrast, the interior of this home has a refreshing
modern flair! Granite counter tops throughout the kitchen with a crisp white tile backsplash. The stainless steel appliances add the perfect touch.

My favorite is the rustic yet modern metal bar. The combination of the new and the old just appeals to me.

Throughout the home, Copperline Homes LLC has replaced all the flooring with either tile or carpet. All the fixtures, vanity sinks, closet doors, interior doors and their hardware are fresh and new as well. It smells, looks, and feels like a new home and is listed for $209,000.

I also like the new gas fireplace with the metal mantle in the family room.....such a nice touch guys!

If you'd like more information on this Bend Oregon home, give me a call. My name is Teri Green and I can be reached at 541-350-8424.

Or, you can visit my website at www.BendOregonRealEstatePLUS.com and connect with me there. It would be my honor to assist with your real estate needs.

Teri Green

Broker

The Hasson Company Realtors

greent@hasson.com

Great Home on HALF ACRE Lot IN Bend!

For lots of pictures and detailed information, visit:
http://BendOregonRealEstate.hasson.com/

If you've been searching and searching for a great home on a HALF ACRE lot in Bend, Oregon, this may be it! This is a wonderfully charming single level home with a huge back deck and a large fenced lot with plenty of room for your RV and toys with a cozy home interior. This is a nicely landscaped three bedroom and two bathroom 1883 square foot home with a larger family room/study that has a double door entry and hard wood floors. The livingroom has a natural vent fireplace and lots of windows to enjoy the daylight and the large privage back yard. This home is air conditioned and has a new septic tank installed. If this type of setting sounds like what you've been looking for, give me a call! I can best be reached by calling my cell: 541-350-8424.

If you have other real estate needs, I would be happy to assist with those as well or you can visit my website: http://www.BendOregonRealEstatePLUS.com/ for helpful relocating and other real estate information.

OR, you can always email me at greent@hasson.com and it would be my honor to assist you with your real estate needs.

Teri

Bend's Tillicum Village - Half Acre Lot!

For detailed information: http://TillicumVillageHome.hasson.com/

Anyone looking for a larger lot IN Bend, Oregon? This is a terrific single level home in the cozy neighborhood of Tillicum Village. This home is 2214 square feet, it's a three bedroom home with two and a half bathrooms. It has a large family room with a wood-burning fireplace, large windows and patio access to the back yard area. It has lots of built-ins and it is situated on a half acre lot landscaped lot with sprinkler system. It has a two car garage and a shop area. If this type of home sounds awesome, give me a call! I can best be reached by calling my cell: 541-350-8424.

If you have other real estate needs, I would be happy to assist with those as well or you can visit my site: http://www.bendoregonrealestateplus.com/ for helpful relocating and other real estate info.

Central Oregon Farm - 20 Acres w/ Cascade Mt. Views

Check it out.....

http://www.centraloregonfarm.hasson.com/

Central Oregon Farm and Horse Property in beautiful Bend Oregon. 20 acres with Cascade Mountain Views and a 2590 SF Custom Built 1991 home. Enjoy mountain views from your bedrooms, balcony, family room, surrounding decks and even the kitchen sink! Sip your iced tea overlooking your 2 ponds and your 16 acres of irrigated fields. This traditional home has been updated with slate, granite, & hardwoods. The large bonus room has office built-ins, it could even be set up as a 4th bedroom. This property has a 4-stall barn and is across the street from 600 acres of Parks land to walk and ride. Amenities and features include: 3 Bedrooms, 2 1/2 bath, upstairs laundry room , central vaccuum system, electric forced air system with heat pump, wood stove in family room, propane fireplace in formal living room, triple car garage, and Avion water. This is a traditional Sale as this home has been loved and cared for by it's original owners.

For more information on this beautiful property, contact Bend Oregon Senior Real Estate Specialist, Teri Green by calling 541-350-8424 or greent@hasson.com

I hear CHICKENS are the craze....if you're "READY FOR CHICKENS" this is the place!

Look forward to hearing from you!

Teri Green

Bend Oregon Real Estate PLUS

Tour of Homes Bend Oregon

One of Bend's very fun and completly free events is the Central Oregon Builders Association Tour of Homes. The COBA Tour of Homes 2010 is scheduled for July 16-18 and July 23-25 (Fridays noon-6pm and Saturdays/Sundays 10am-6pm).

Open to the public, you are welcome to walk thru as many of the participating homes as you'd like. Each participating home is newly constructed showcasing many of the hot new building techniques and amenities. A great way to experience for yourself some terrific Bend Oregon Real Estate. The Bend Bulletin provides a complimentary booklet showing detailed information and a map to each home. Look for this booklet on July 14th.

Homes range from under $200K to over $2,000,000. Each home will be judged in a variety of categoties and award winners are announced on July 20th. As many as 75 homes have participated in previous years. We will see what numbers 2010 brings.

Grab your friends and check out the 2010 Tour of Homes!

If you have interest in Bend real estate, sign up for Teri's free New Listing Notification Service or call Teri today with any of your real estate needs or questions! You can also email Teri at greent@hasson.com

Teri is Bend's Senior Real Estate Specialist and will help you find great bargains on quality homes in all of Central Oregon: Bend, Redmond, Sisters, Sunriver, Lapine and Prineville!

To gain instant access to foreclosure bargains right when they hit the market, call Teri at 541.350.8424 or visit http://www.bendoregonrealestateplus.com/

I love what I do and work diligently on behalf of my clients. It would be my honor to apply my diligence, knowledge and experience to your real estate needs. We will both enjoy the results!

Sincerely,

TERI GREEN
Bend Oregon Real Estate - Senior Real Estate Specialist
The Hasson Company
541-350-8424

http://www.bendoregonrealestateplus.com/

Bend Oregon Real Estate Market Trends

If you're a buyer interested in Bend Oregon real estate, these are GREAT days! Mortgage rates are terrific...Prices are hitting bottom...doesn't get better than this! There hasn't been a better time to buy real estate in Central Oregon in a long time. You'll find great bargains on quality homes in all of Central Oregon: Bend, Redmond, Sunriver, Lapine and Prineville!

Current Market Trends

Thank you for allowing me to elaborate on our Central Oregon real estate market trends: There are 1,985 residential properties listed for sale in the Central Oregon MLS at this time. This leaves us with 7.5 months of inventory. Last year at this time, we had 2,645 residential properties listed for sale in the Central Oregon MLS with 12.0 months of inventory to work through. Why is this important to look at? Our real estate market has clearly been defined as a buyer's market since our real estate values peaked in May of 2005. Since that time, property prices have continued to reduce. Anytime a month's of inventory goes under 6 months, the market will most likely be defined as a seller's market. Meaning property prices are starting to go back UP and the seller is more in charge of the selling price of their property. There can be more bidding wars, multiple offers, listing prices increase as a home remains on the market. That has not been our experience recently in Central Oregon or in the nation! With our current months of inventory dropping this year from 11.0 months in January to 7.5 in April, those properties that are listed very competitively are actually experiencing multiple bids and some bidding wars! Wow! But, for those overpriced properties NOT priced competitively, they sit...offer-less and often show-less (if you will).

It seems we are approaching some improvement if you consider the movement of real estate an improvement. Since I'm a real estate broker for The Hasson Company, I'm anxious to see real estate properties MOVE. Not only for me, but for Bend's economic-well-being. It seems that when real estate is healthy, other industries are also enjoying the good health (employment, restaurant sales, car sales, vacation spending, etc.)

One impacting factor locally however is our total of New Notices of Default. During "normal" times, Deschutes County might experience 300 New Notices of Default in a given year. So far this year we have seen 1,437. Again I say, Wow! Although I see "signs" of Central Oregon's general economy improving or changing slightly, until the real estate market stabilizes, this New Notices of Default total and reduces this supply to maybe 500 a year, I don't see our economic pressures letting up for our employed, our employers or our unemployed residents. The good news is that we ARE heading in that direction!

There are many ways to interpret our local market trends. In my world, these are the signs I watch and these are my interpretations. I'm always being asked, "When do you think home values will return?" And, "do you think we have hit the bottom yet?" If you were to look at our home values in a graph form, you will see the huge dropping of values from May of 2007 to now. I believe the general Bend real estate market is "hitting" bottom currently. But I also believe we will continue to bounce in this bottom range until we stabilize our New Notices of Default totals. This could take one year, two years or more. If we had a crystal ball, this recession, this economy, etc. would be much easier to tolerate and decisions would be much easier to make. But, we don't. I will just say that if I had to give an opinion, it is my humble opinion that after we work through the New Notices of Default totals and stabilize that issue, property values will inch up but not quickly...maybe at a rate of 3 to 4% a year. Now does that mean your listed home will increase at that rate? That depends....is your home listed at a competitive and current value price? Or are you still holding on to past value in your mind and expecting this 3 to 4% increase from there? If your home is listed, are you getting multiple showings? Are you processing offers? If not, you must lower your perceived value to a correct and current value and that would be your starting point from which to add this 3-4% increase. Ouch. (I know, I'm sorry.)

Are there positive signs? YES! I see more hiring going on. I see more building taking place and busy contractors. I see more real estate being purchased and I see bidding wars for competitively priced homes. All signs that we WANT to see. We want to see employment and money in our pockets to spend or save providing us with a feeling of security. If you're a buyer, these are GREAT days! Terrific interest rates...it doesn't get better than this! There hasn't been a better time to buy real estate in Central Oregon in a long time. Great bargains on quality homes in all of Central Oregon.

I hope you find this information helpful to your understanding of our current Bend Oregon Real Estate market conditions and trends.

If you're thinking of buying a home in Bend, Redmond, Sisters, Sunriver, Lapine or Prineville, you should sign up for Teri's FREE New Listing Notification Service or call or emtail today! Teri Green is a Senior Real Estate specialist and sells quality homes in Bend, Redmond, Sisters, Sunriver, Lapine, and Prineville, Oregon.

For foreclosure information, Call Teri at (541) 350-8424 or visit www.BendOregonRealEstatePLUS.com

If you have questions about Bend or Bend real estate, call Teri at (541) 350-8424 or Email at greent@hasson.com

OR you can use our FREE MLS Search to search for local real eswtate.

Sincerely,

Teri Green
Bend Oregon Real Estate - Senior Real Estate Specialist
The Hasson Company
(541) 350-8424
www.BendOregonRealEstatePLUS.com