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

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

Waterfront homes are one of the most sought after properties in Central Oregon.  Central Oregon offers many choices of riverfront property.  Pricing, style, age and type of home varies as much as the bends of the rivers.

Search For Riverfront Properties

The Big Deschutes River is navigational by motor boat, it is the widest and deepest of all 4 rivers in most places.  The Big Deschutes River has private and public land along it’s banks.  Many of the homes located on The Big Deschutes River are located on what is often called the high side of the river.  When purchasing a property on The Big Deschutes River there are several things to keep in mind.  The water quality, the type of sewer, river setbacks and if there is a dock is it an approved dock?

Wild River on Big Deschutes

The Little Deschutes River joins The Big Deschutes River at Crosswater Golf Course.  Several beautiful homes are located on The Little Deschutes River, such as Vandevert Ranch, Crosswater on the upper end and for more affordable homes Lazy River South is one of the most well known.  The Little Deschutes River is not generally navigated with a power boat or even a drift boat for any distance.  The Little Deschutes River does tend to have trees down and areas that are unexpectedly shallow.  Most of the recreational activities you will find on The Little Deschutes River is tubing, rafting, fishing and swimming.

Fall River is a shallow river that is extremely beautiful.  The Fall River Fish Hatchery is located on this river along with the subdivision Fall River Estates.

Spring River runs into The Big Deschutes River at Sunriver.  Homes on Cooper Drive are located on Spring River.  There are several homes currently for sale on this road, prices are varied from the high $400,000 to over a million.

When purchasing property on any of these rivers there are things you need to know, there are issues that an experienced Realtor® should know and also will need to disclose to you.  I am available to answer questions and show you the beauty that Central Oregon has to offer.

Click below to obtain your personalized list of Central Oregon Riverfront Properties or any other list YOU would like.

River Front Homes

Did you know that an FHA loan is not just for first time home buyers? It is a myth that FHA home loans are only for the first time home buyer. Today, we are going to take a look at what our friends over at Home Loan Ninja have to say about FHA loans.

FHA loans can be used to refinance a home, and may be a good choice because of the leniency regarding credit scores. Whether purchasing or refinancing there are reasons people choose an FHA home loan.
An FHA home loan currently allows for a borrower to have a 580 FICO score, however this can change and sometimes one bank will have a different requirement.  This is set bank by bank, some will banks during changes will require a different score than another.  Now that does not mean you should shop on and on for a lender that will allow a lower credit score, what it does mean is that you should be working closely with your REALTOR® and your lender from the start. This way when changes happen you are prepared.  FHA loans allow you to finance 95% of the property value. Many conventional loans will only finance 75% to 80% of the property value. Additionally many conventional loans are only available for those with a 720 FICO score.

Additional Ask The Mortgage Professional Articles

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

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

All of the rumors about the lack of bank owned properties, of banks pulling their listings or not foreclosing at all has the buyer confused and cautious about bank owned properties.  We are still seeing new listings come on the market that are bank owned, they are closing and are not nearly the animal people are afraid they are.  You will find different issues with every bank owned home, some have major deferred maintenance, some have fixtures missing and others are move in ready.

Many times a bank will resolve issues in a home that are lending requirements.  This does not mean they will replace carpeting or things like that, it does mean that they will often (not every time or every bank) repair leaky pipes, broken furnances and that kind of thing.

Each area in Central Oregon has a lot of bank owned homes to choose from – the list below is actually a list of links taking you to the bank owned homes currently available.  This list will not update, and these homes do tend to sell quickly.  If you would like homes like this sent directly to you via email just let me know and I will provide you with that service at no obligation.

La Pine Bank Owned Homes For October 27,2010

Three Rivers South Bank Owned Homes for October 27,2010

Sunriver Bank Owned Homes for October 27,2010

Bend Oregon Bank Owned Homes in SE Bend for October 27,2010

Bend Oregon Bank Owned Homes in SW Bend for October 27,2010

Bend Oregon Bank Owned Homes in NE Bend for October 27, 2010

Bend Oregon Bank Owned Homes in NW Bend for October 27, 2010