Information and listings of foreclosures in Bend and surrounding areas.  Bank owned homes can be a great deal.  Start your search for a foreclosure today.

Buying a HUD home in Bend

I'm currently representing a buyer in a transaction on a HUD owned home in Bend, and the process has changed a lot over the past couple of years.  So I thought a blog post on the subject was necessary.

 

HUD stands for the US Department of Housing and Urban Development.  FHA (Federal Housing Administration) has been a part of HUD since 1965.  FHA insures lenders against losses due to borrowers defaulting on their home loans.  When a FHA backed loan is foreclosed on, usually HUD ends up owning the property.  They then put the HUD owned home on the market to the public.

Online Bid Process

When HUD puts a home that they own on the market, they will list it with a local real estate broker and the property will be put on the…

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Bend Foreclosure Deals


Although foreclosures aren't dominating our Bend real estate market like they used to, there are still opportunities to score a bank owned home in Bend.  Currently there are only 16 on the market, but they sell really quick.  There are currently 19 REO's pending sale, (REO means Real Estate Owned by the bank, and is another term for foreclosure).  We're starting to see more REO activity, and I think we'll see more listings hitting the market throughout the next few months.  I don't think it's going to be the big surplus that some have talked about, and the foreclosures shouldn't have a big impact on our overall market prices. 

Even thought it's a foreclosure, it doesn't mean it's a good deal.  Some of the banks have put listings…

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