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Bend Deschutes County
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Old 03-03-2009, 08:47 PM
 
Location: Bend
32 posts, read 139,620 times
Reputation: 35

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Thanks again for all the advice. Our realtor showed us the houses we wanted to see, it just happens they are short sales. I think the price we can afford lends itself to short sales, which seems to be the lower priced homes in each neighborhood.

We have found a number of homes in southwest that would be acceptable, but we want to be as close to Phils' Trail as we can. I want to bike and run to the trails and get out of the car. That is the purpose of being in Bend! Thanks for the website! Great resource!
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Old 03-04-2009, 10:05 AM
 
Location: Cascade Lakes Highway / Kapalua
456 posts, read 1,007,549 times
Reputation: 184
OPB News · There Goes The Neighborhood -- Foreclosures Changing Bend Neighborhoods
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Old 03-04-2009, 10:21 PM
 
Location: Bend, OR
3,296 posts, read 9,689,504 times
Reputation: 3343
Default Too good to be true!

My advice...stay away from short sales! At minimum, get a realtor who is completely knowledgeable and has experience dealing with them if you are going to make an offer on one. It looks like our deal is going to fall through after all. We may walk.

The home inspection came back with some major repairs needing done and we have been told by the agent that the bank won't negotiate since they already accepted our offer. If we would have known that we couldn't lower our offer if something major came up in the inspection, we would have never gone through this whole process.

I'm feeling extremely frustrated and disheartened at the same time. Now I really believe the warnings about staying away from short sales. You are better off to go with a bank owned property and cut out the middle man.

The short sale process is very time consuming and right now the market seems to be in a freefall in Bend. Our offer price back in November doesn't really reflect the current market today. Rent for a while and don't get caught up in a bad deal. I think I just avoided one, even if it cost me with an inspection and appraisal.
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Old 03-05-2009, 07:23 AM
 
Location: Eagle Point, OR :)
279 posts, read 1,086,144 times
Reputation: 132
Default Sorry to hear about the house. :( ...

But glad you got away before it was too late. Thanks for the advice!
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Old 03-05-2009, 11:31 AM
 
Location: Portland, Oregon
10,990 posts, read 20,567,401 times
Reputation: 8261
By some reports unemployment in Bend is about 12%: Region’s job losses outpace country’s | The Bulletin=
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Old 03-05-2009, 05:29 PM
 
Location: Bend
32 posts, read 139,620 times
Reputation: 35
Delta07: Sorry to hear about the house. You sounded so excited when the offer went through. Best of luck in the future.

Does anyone have a prediction on how the Obama housing package will impact the Bend real estate market?
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Old 03-05-2009, 10:17 PM
 
Location: Cascade Lakes Highway / Kapalua
456 posts, read 1,007,549 times
Reputation: 184
Bend Real Estate Statistics February 2009
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Old 03-26-2009, 04:11 PM
 
Location: Bend, OR
3,296 posts, read 9,689,504 times
Reputation: 3343
Default It worked out after all:)

Well, I guess persistence is the key! After deciding that we didn't want the house for our original offer price, we decided to go back to the bank with a new offer. Our realtor was skeptical, telling us that the banks don't usually even consider a situation like this. But, we decided that if the banks didn't like our new price and they rejected it, we were okay with letting the deal go. In the current market we were not going to overpay! So, after waiting about 2 weeks we got word that the bank accepted our new offer, which was $20K less than the original. We just closed on the house yesterday! So it all worked out! It was the biggest pain I've had to deal with, but in the end I guess it was all worth it.
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Old 05-17-2009, 07:59 PM
 
3,633 posts, read 6,173,914 times
Reputation: 11376
Quote:
Originally Posted by Dry Side View Post
I can't think of any reason to buy in Bend now. Prices still have a long ways to fall..

Real Estate Blog - A 90-day Look Back on the Bend Market
Wow, that's sobering. Looks like at least a couple-years' supply at almost all price ranges.

I've been watching Bend real estate since a visit there 2 years ago, since it's on my short list as a retirement choice. I can't believe how the prices have tanked in that time.
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Old 05-17-2009, 09:23 PM
 
Location: Cascade Lakes Highway / Kapalua
456 posts, read 1,007,549 times
Reputation: 184
Bend is in absolute free fall when it comes to homes and jobs.

After storybook boom, Bend faces a tough chapter

Bend's Economy: Boom, Bust and Beyond Video
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