Sunriver has not had the number of short sales or bank owned properties that the rest of Central Oregon has seen.  But there are a few great homes to choose from that fall into this category, remember not to limit yourselves to just the bank owned or short sale, a lot of  sellers have lowered their prices to compete with the bank owned and short sales in Sunriver.

Click here for your List of Bank Owned and Short Sale Homes in Sunriver

Under $150,000 La Pine

In the last couple weeks we have started to see some interesting things with the real estate markets in Central Oregon. Several times, in the last 2 weeks I have had a buyer ask for information on homes in a specific area, at specific price ranges. The lists are getting much smaller than we have seen in the last couple years.

In La Pine you will find that homes under $150,000 are much harder to find than they have been recent past. Many of the homes in this price range are wonderful homes, a few are short sales. What seems to be absent is the bank owned home.

It makes me think, that the banks are holding on to more listings than before. The good news is that for the seller that wants to sell and can do so for under $150,000 in the La Pine area now might be the opportune time.

Many of the REALTORS in La Pine are reporting the same type of activity and observing the same situation.

Seller’s for the La Pine area – if you own a home, owe less than $130,000 now might be the time to sell and walk away with a little cash in your pocket.

In Central Oregon our most common riverfront properties are found on the Big Deschutes and Little Deschutes Rivers.  Both of these rivers are regulated by a serious of dams the largest being the dam that holds back the water for Wickiup Reservoir.

A common question from buyers looking at river front property in La Pine, Three Rivers South, Sunriver and Bend is how often it floods.  In general most of us are accustom to rivers flooding, we see it every spring on the news.  The good news is, although the Big Deschutes and Little Deschutes rivers do rise, and occasionally flow over the banks we rarely if ever see flooding like most would expect. I have lived in Central Oregon most of my life and can only remember one occasion where the Little Deschutes River flooded in a manner to cause difficulties for a community.  That “flood” was a short period of time and the biggest issue was an inconvenience and not property damages.

Search For River Front Homes in Central Oregon

Central Oregon is a volcanic area and our soil is very porous which allows the water to drain into the ground very rapidly. 

When purchasing a riverfront property there are a couple of things to keep in mind.  There are regulations by the county, city and associations along the river that may govern what you can and can not do along the river.  For example to have a dock on the river you must have a certain amount of river frontage.  You must build away from the river and so on. 

Jason, with HomeLoanNinjas gives us a couple of other ideas about riverfront home buying.  Flood insurance and the appraisal, both are important factors when purchasing your Central Oregon river front home.

Additional Ask The Mortgage Professional Articles

Looking for a mortgage professional? I would encourage you to contact;

Jason  your Home Loan Ninjas at 503.799.4112 or you can visit his website and see more info about mortgages and what you should expect.

Many times throughout the last couple years I receive requests to provide listings or show bank owned homes.  We have a lot of them in Central Oregon and in the past most of the Bank Owned Homes were priced well below a traditional sale.  Today we are seeing some changes in that pricing.

Every area of Central Oregon, offers a few awesome bank owned homes but they also offer some great buys in a traditional sale.  So, what is the difference you might ask, below is a list of things you can expect with a purchase of a bank owned home and a traditional sale.

Bank Owned Home

• No guarantee how long a home has set vacant – in our extreme temperatures this can be an issue.
• No repairs – other than major safety or code violations
• No  history of the home to know how something may work
• Occasional delays because the asset manager (person over seeing the transaction) has multiple files.
• Title and escrow is generally handled with an out of area company
• Often times past due water and sewer accounts are not checked.

The Traditional Sale

• Home has been typically lived in or at least taken care of
• Sellers are more inclined to do repairs to sell the home than a bank will
• Sellers are generally willing to share how the systems of the home work, like winterizing the sprinkler systems and such.
• Sellers are more motivated to get documents signed and keep the contract moving forward
• Title and Escrow is handled in the area of the home, where the title company is familiar with the local associations, districts and so on giving you better protection.
• Water, sewer and other expenses are generally current, or are brought current at time of closing.

Great prices are available in both the bank owned listings and the re-sale listings – if you would like to be notified of listings that fit your price, or other needs I would be happy to set you up with an automatic email for listings that fit your specific needs.

La Pine Bank Owned Homes

Three Rivers South Bank Owned Homes

Sunriver Bank Owned Homes

Now that spring is here the buyers seem to be more active and the banks are starting to place properties on the market that have been sitting for a while.

A couple of the homes that you will find on these lists have been sitting vacant  for several months.  That does not mean they are a better or worse home, I only point it out so that you will understand that these lists may start growing for the simple fact that the banks are starting to get properties put on the market for sale. The weather is improving although we certainly could use some of our beautiful sunshine.

Bank owned homes can appear to be the best deal on the block, but remember there are other homes that may be a better value.  My job is to know what you need or want in your dream home and help you make that dream a reality.

Each Box Below will take you to a current list of Bank Owned homes in each area.