Posts Tagged: "Buying"

Flood of foreclosures to hit market

Now that a settlement has been agreed upon by the big five banks, we will be seeing more foreclosures. Although a flood of foreclosures hitting the market has its downsides, it is good for buyers that are looking at bank owned properties hoping to find a “good deal”.

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Record Low Mortgage Rates

The 15-year fixed rate hit yet another record and the 30 year fixed rate is just short of its own record low. Don’t pass up this great time to purchase a home.

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Housing Market Expectations Up

We have all been anxiously awaiting the rebound of the housing market. Here is a USA Today Money article that predicts a strong selling season this spring.

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Public Auction Announcement

Public Auction Tax Foreclosed Property

On May 16, 2012, Deschutes County will hold a public auction. The sale begins at 10:00am in the Barnes Hearing Room, 1300 NW Wall Street, Bend, Oregon. You must be present to bid. The Public Notice and list of Property for Sale are in the “Related Information” section on the right.

For more information on the properties, please see attached flyer.

Registration

You can register in advance by e-mail, fax or in person between May 8 and May 15. Complete the Registration form in the “Related Information” section on the right and send to Teresa.Rozic@deschutes.org; or fax to 541-317-3168; or visit/mail to Property & Facilities Department, 14 NW Kearney Ave, Bend, Oregon 97701 . The office is open for registration between the hours of 09:00am – 04:00pm. Register before 09:30am the day of the sale.

Payment

You must pay in full by cash or cashier’s check only. You may leave the room and return before 02:00 pm with the exact amount.

Financing

For property sold for $25,000 or more, Deschutes County will offer financing – no prequalification. You must pay a nonrefundable 20% down payment. You can choose to pay the balance in equal payments over 10 years at 5% fixed interest, or make a second (final) payment within 30 days.

Terms

Fuels Management Agreement

Some property will be sold subject to buyer agreeing to eliminate the wildfire fuels within one year of purchase.

All Parcels are Sold “As Is”

Potential bidders should thoroughly investigate all aspects of a property prior to bidding. Deschutes County has not surveyed the properties offered for sale and makes no representation as to boundaries, encroachments or encumbrances. Deschutes County does not guarantee or warrant that any parcel is buildable, suitable for septic system, has legal access, is vacant or is usable for any particular purpose. The County shall not warrant or defend the fee simple title of real property offered for sale to be free of defects or encumbrances, but will only sell and convey such interest as the County acquired by foreclosure or other means and holds at the time of sale. Furthermore, conveyance is subject to all valid, recorded easements, road right of way dedications and the right of any municipal corporation to purchase such property pursuant to State law and subject to the right of the Board of County Commissioners to reject any and all bids.

Please note: If you choose not to seek professional help to investigate these properties, real property and deed records can be found in the Deschutes County Clerk’s office. The Clerk’s staff can help you, on a limited basis, to locate documents that you want to review. They cannot do a title search or give you legal advice.

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Bidding Wars Erupt

Remember those days when you had to act fast and offer more than the listed price, hoping that your offer was better than all the other ones. It is happening again according to this Bloomberg article. If you have been on the fence waiting to see what the market does before buying, I think now is the time to start looking. We are seeing a lot more articles like this one that show the housing market is getting better… even faster than previously predicted.

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Investment Home Sales Up 2011

Now is a good time to look at real estate as a smart investment! According to the National Association of Realtors, Investment and Vacation Home Sales jumped in 2011. We are seeing that this is also true here in our local market. Everything points to the market getting better, I think the only question is how far out is that. If you can pick up an investment property at these great prices and are able to wait until the market has recovered, you will be glad you did. A few years back when we were in a peak market, I can’t tell you how many people I ran into that would say “if I only knew then what I know now…”.

I think the people that are not taking advantage of this market and picking up investment properties will be doing the same thing only a few years from now.

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Must-Knows for Short Sale Buyers

Are you considering buying a short sale? Here is a good article that sheds some light on how the process works.

Read full article Must-knows for short-sale buyers on Inman News

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Home buying cheaper than renting

It just makes sense to buy verses renting, here is an article from CNNMoney with some of the reasons why.

Read full article Home buying much cheaper than renting on CNNMoney

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