Looking at the bank owned homes in La Pine, Sunriver and Three Rivers South it seems that the numbers may be growing a little. Many of the homes that are priced well are still available this week. Although winter generally brings slower sales, recent bank owned sales have continued no matter what the weather.
Many of the HUD homes seem to be now listed with agents that are not aware of the area in which the homes are located. I seem to be finding a lot of errors on schools, counties and so on. The bank owned home often times takes a little more research, so using an agent that knows the area is very important to the buyer.
Buyers unless your loan requires a bank owned purchase, don’t limit yourself, there are several great properties out there that are doing their best to compete with the bank owned home.
Your Weekly Lists of Bank Owned Homes
La Pine Oregon Bank Owned Homes
Three Rivers South (Between Sunriver and La Pine) Bank Owned Homes
Sunriver Oregon Bank Owned Homes
I am always available to be YOUR BANK OWNED BUYERS AGENT!
Marchel Peterson says
Thesa, I did not realize that there were loans that required that the buyer buy a bank owned property. Is that a common loan?
Thesa Chambers, Principal Broker, ABR says
Marchel – there is a program called Neighborhood Stabilization Program – it is generally in areas hit hard with foreclosures – and it does give you the possibility of an 80/20 loan up to $35,000 on the 20% – this loan is interest free and payment free until you sell or refinance your home. This product has to be used for a primary home purchase and is geared towards first time home buyers (not owned a home for 2 years) there are specific things a buyer must do such as attend a class to qualify – but it certainly gives a first time home buyer more buying power.