Bend Oregon Living. Featuring Central Oregon

Looking for a great deal? Many buyers are searching frantically for the bank owned properties in Central Oregon.  I am here to make that search easier for you.  Below you will find a couple of links that will take you to the current bank owned properties in La Pine and Three Rivers South.  Please keep in mind that our MLS changes every day and new listings come on the market, prices change and buyers buy.  For an up to the minute list please call or email me and I will explain how you can always know what the current status and homes are. La Pine Bank Owned Properties Three Rivers South Bank Owned Properties Many think buying a bank owned property takes longer and is more frustrating than other properties that does not have to be the case.  Let my experience with these properties help you be the proud owner of your new home.

Out of State Sellers – Income Tax Withholding
January 1, 2008 House Bill 2592 will go into effect.  What does this mean?  For the out of state seller it means less money in the short run.  If an out of state seller sells an Oregon property after January 1, 2008 new legislation will require a mandatory withholding for income taxes. The withholding will be from the seller’s proceeds at the time of closing.  The 2008 sales agreement will have text that pertains to this and the new law. What to expect  – from looking over the bill which can be viewed at http://www.leg.state.or.us/07reg/measpdf/hb2500.dir/hb2592.intro.pdf I see it as you should expect to have 4% of the net proceeds or 10% of the gain for taxable income.  Obviously it is much more detailed than this, please do read the bill so you know exactly what to expect regarding your own sales in Oregon.  This law is over a year old now and it still poses a lot of questions – the one thing that both REALTORS® and Title and Escrow have to continue to explain is that this is a withholding and not a tax.  

We Found The House – The Price Is Right – Now For The Offer
I love working with first time home buyers.  The feeling through out the transaction all the way to closing and after is so rewarding.  Today, a young couple I have worked with for 2 and a half years finally got an accepted offer on the perfect home.  A bank owned, brand new never lived in 4 bedroom home.  This young couple has waited patiently – they have driven streets, they watch their email and they knew exactly what they could afford regardless of what they qualified for (lender would loan more than they wanted to spend). We saw the home come on the market last month and made a low offer on it… we held our breath – the bank would not budge….they felt the activity they had would bring them a higher offer.  Guess what – it did not, they had to lower the price…. and again we made a run at this home and again the bank would not budge. Monday the home had yet another price reduction…. lower than what we had offered not once but twice…. and guess what we did not offer full price – and guess what – we got the house. Patience, teamwork and persistence has paid off – I am thrilled – now to get through the Typical Central Oregon Contingencies.  The Bank has already provided the septic info, well report and we are well on our way to a successful closing. If you are ready to buy, just thinking about it, or not sure what you are looking for – sign up for your free listings.