This is one of the most common questions I hear from prospective buyers regarding short sales. There are many instances where a buyer makes a full price offer on a short sale only to have the seller’s lender counter at a higher price. What is the result….a frustrated buyer who asks what was the listing agent thinking when they priced that home? Unfortunately, I can’t always answer that question. I can help the buyer set reasonable expectations when entering the short sale process.

Competitive yet Realistic Short Sale Pricing in a Declining Market

I price my short sales in a similar manner as I price traditional sales. My short sale listing prices are largely determined on comps – similar homes (size, age, condition) that have sold in similar neighborhoods within the past 6 months.

The first step is to run a market analysis to determine what similar homes are selling for in today’s market. This is also a step the Seller’s Lender will use when determining the final sales price of the short sale.

Second, I look at the local market trends. What is happening with home prices here in Bend? Are they rising or dropping for this price range? Fortunately, I can view this information with software provided by our Central Oregon MLS.

Now bring the two together….Home prices are declining in Bend and short sales take a minimum of 3 months (on average) to bring to closing. I make an educated estimation of where the reports tell me home prices will be in the next 2-3 months and I have my price. It’s slightly lower than what today’s homes are selling for but not so low that it’s unrealistic to the Seller’s Lender.

So far this method has resulted quick offers and approval letters close to but not more than the listing price.

Buyers – Know the current market value of the short sale before you make on offer.

If it sounds too good to be true, it probably is. Before making an offer on a short sale, have your Real Estate Agent run the comps /market analysis. If the price of the short sale is well below other similar homes , then the home is under priced. As a buyer, you don’t necessarily need to walk away from this purchase if you’re willing and able to pay more. If you’re not willing to pay more then continue looking.

Pricing a short sale is not an exact science and even with the most researched or thought out pricing the Seller’s Lender can throw a curve ball. Remember, use your real estate agent as a resource and set realistic expectations when attempting to purchase a short sale.

If you need help short selling your Bend, Oregon home or determining if purchasing a short sale is the right option for you contact us for free confidential information or visit our short sale page.

©2010 Bend Oregon Real Estate Blog. All Rights Reserved.

Check out this video on Price vs. Condition…where are you going to Price your home?

Price vs. Condition – Where is your home priced?

Showings and offers are coming in – Great job you’ve priced your home competitively!

Lots of showings and no offers – You’re almost there but something needs to change. Either the price of your home needs to be lowered to meet the overall condition of your home or the condition needs to be improved to match the price. With the tight market conditions in Bend buyers are used to seeing homes that need work – make the small improvements you can and drop your price to sell your home.

No showings and no offers – Your home is listed but you are not “in the market”. If you want to sell your home in the Bend real estate market it’s time to reevaluate your pricing and your motivation for listing your home.

Bend is a very competitive market. We have homes that are sitting on the market for months going on years now. We have an abundant number of short sales and foreclosures bogging down home prices. Unfortunately, your traditional sale must compete with short sales and foreclosures. Why? Many of these distress sales are matching your traditional sale in condition but beating your home in price.

Are you ready to sell your home in Bend? Contact us for straight talk in competitive pricing. It’s time to sell your home, not your neighbors.

©2010 Bend Oregon Real Estate Blog. All Rights Reserved.

Whether you are buying or selling your next home in Central Oregon. It’s important to keep track of what buyers want. This can help current home buyers or sellers stay competitive when reselling their homes. With the Bend, OR real estate market being such a challenge for sellers, any chance to highlight features buyers want can help give you a leg up over the competition.

According to a recent survey by Ziprealty, the following are the Top 10 most Sought after Home Features:

1. Garage or parking space: 86.8 percent.
2. Master suite: 78.9 percent.
3. Ample storage space: 72 percent.
4. Large or walk-in closets: 66.5 percent.
5. Guest bedroom: 66.4 percent.
6. Outdoor entertainment area: 64.3 percent.
7. Gourmet or updated kitchen: 60.6 percent.
8. Breakfast room or eat-in kitchen: 55.8 percent.
9. Large yard: 43.2 percent.
10. Wood floors: 40.8 percent.

They survey also noted the biggest turn-offs for buyers. While viewing a home in person buyers were most put off by:

1. Structural damage
2. Bad odors
3. A busy street
4. An awkward floor plan

A second set of deal breakers from buyers came from viewing homes on-line. These are extremely important to pay attention to because unlike the previous buyers this set is not likely to view your Bend home for sale. While viewing homes online prior to visiting the biggest turn-offs for buyers were:

1. Lack of parking
2. Few or no photos
3. Low square footage

You can view the entire article on Inman news. For more real estate information or help buying or selling your next home in Bend, Oregon contact the Adams Team at Fred Real Estate Group for exceptional service.

©2010 Bend Oregon Real Estate Blog. All Rights Reserved.

Luxury Neighborhoods with Acreage in NE Bend  include Royal Oaks, Country View East, Overtree Ranch, Old Deschutes and Scottsdale Ranch.  These neighborhoods are located near the NE Bend city limits close the the UGB. Royal Oaks and Scottsdale Ranch neighborhoods can both be reached from NE 18th Street. These luxury neighborhoods feature large homes on acreage and give homeowners the feel of living in the country close to town.

Our featured home for sale is on 2.5 acres in Royal Oaks neighborhood in NE Bend. This 4 bedroom, 3.5 bath home is 4176 sqft and incredibly functional.  This beautiful home is optimized for storage and entertaining.  For more information on this home for sale in NE Bend contact Kryste Adams.

NE Bend OR Homes in for Sale in Royal Oaks, Country View East, Overtree Ranch, Old Deschutes and Scottsdale Ranch Neighborhoods range in price from mind $400,000′s for a distress sale to over $1million. The majority of these fantastic homes are located on at least 2 acres.  A few of the neighborhoods also allow for horses.  Each of these NE Bend Neighborhoods are close to all Bend has to offer, it’s no more than a 15 minute drive to downtown Bend or Costco giving these homes the feel of luxury country living yet close to town.

For more information on this home for sale or other NE Bend, OR homes for sale contact Kryste Adams.

©2010 Bend Oregon Real Estate Blog. All Rights Reserved.

I started writing today’s Thing thing to do in Bend when I ran across Hump Day Hash, what a great idea! With the struggling economy in Bend, it’s great to have so many free concert series.  I for one am more likely to spend the money on food and drinks if I’m not purchasing a concert ticket.  Since I can’t make it this evening someone have a drink for me!

Hump Day Hash is located at the Century Center at the corner of SW Century Dr & SW Commerece Ave

Food and drinks will be available and a portion of the proceeds will benefit the charity of the night, so make sure to bring a bit of cash for food while enjoying a free concert for a great cause.

For more information on the Century Center check out the article in the Bend Bulletin on the Hump Day Hash and Century Center Complex.

©2010 Bend Oregon Real Estate Blog. All Rights Reserved.

• Best Vegetarian Restaurant, 2009 The Source Weekly Readers’ Poll
• Best Ethnic Restaurant,2009  The Source Weekly Readers’ Poll
• Best Ethnic Restaurant, 2008 The Source Weekly Readers’ Poll
• Best Ethnic Restaurant,2007 The Source Weekly Readers’ Poll
• Best Vegetarian Restaurant,2007 The Source Weekly Readers’ Poll
• Honorable Mention Best Ethnic Restaurant, 2007 Gusto Magazine
• Honorable Mention Best Rookie Restaurant, 2007 The Source Weekly Readers’ Poll

Kebaba‘s food is fresh, delicious and reasonably priced.  Each time I’ve been in their service has been great! My personal fav is the Lamb kebabs! For the vegetarians out there Kebaba has a great selection of non meat favs!

This post is titled Lunch at Kebaba but they are open for dinner as well.  However, Tuesdays are the day to have lunch at Kebaba?  Why? Twitter Tuesday of course! Each Tuesday Kebab has a different lunch special, you’ll need to follow them on Twitter to get the inside scoop.  http://twitter.com/Kebaba

If you can’t make it in to Kebaba for lunch or dinner you can buy their Hummous, Eggplant Babaganouj and Bedouin Middle-Eastern Salsa at these local grocery stores:  Newport Avenue Market, Whole Foods Market, Nature’s Produce Patch and Jackson’s Corner.

I’m hungry just thinking about it!

To keep up with all the 365 Things to do in Bend don’t forget to follow us on Twitter or Like our Facebook page!

©2010 Bend Oregon Real Estate Blog. All Rights Reserved.

The cycling race consist for 5 stages and a prolong for both men and women

Tuesday, July 20, 2010 is the Cascade Cycling Classic Prologue is a 2 mile race through Bend, OR’s Old Mill District. this is the kick off event for the week of races. The begins and ends at Old Mill district and the women are set to go at 6:00 pm with the men’s start time TBD.

Wednesday July 21, 2010 Stage 1 of the Cascade Cycling Class a 74 mile McKenzie Pass Road Race that begins at Santiam Snow Park and finishes at Three Creeks Snow Park. The men are scheduled to start at 10:00 am and the women at 10:10 am.

Thursday July 22, 2010 brings on Stage 2 the 16 mile Skyliners Time trial that begins at Summit High school heads out Skyliners Rd then back to Summit High School. The men are schedule to begin at 10:00 am the women TBD.

Friday, July 23, 2010 is Stage 3 the Cascade Lakes Road Race which begins at Summit High School and climbs it’s way up to Mt. Bachelor Ski resort. The men start at Summit High School at 10:00am and the women start at Wanoga Snow Park at 10:40am.

Saturday, July 24, 2010 is Stage 4 is a 45 – 50 minute road race through Downtown Bend circling Bond and and Wall Street. Women start at 5:45pm and the men at 7:00pm.

Sunday, July 25, 2010 is stage 5 the final stage of the Cascade Cycling Classic. Stage 5 is the Awbrey Butte circuit Race a total of 83 miles / 5 laps for the men and 52 miles or 4 laps for the women. This stage begins at Summit High School then heads out towards Shevlin Park circling down to OB Riley and back up Archie Briggs and Mt Washington.The Men start at 1:00 and the Women at 1:05.

There are a lot of opportunities to get out and watch the races! Drive safely and watch out for bikers in Bend this week! Expect driving delays and closed roads in the areas above For more information on the 2010 BMC Cascade Cycling Classic including race route maps.

For more fun things to do in Bend, Oregon check out our website or Like Things to do in Bend on Facebook!

©2010 Bend Oregon Real Estate Blog. All Rights Reserved.

Regal Theaters has offered their Free Family Movies since 1991. Talk about a great free way to beat the summer heat. The movies are free but bring a few bucks for popcorn and snacks.

Where: Old Mill Stadium Theater and Pilot Butte 6 Theater

When: Tuesday, Wednesday & Thursday @ 10:00 am

Each show time has both a G rated and PG rated movie. Tickets are available before showtime. Tickets and seating are first come first serve so come early. Don’t despair if the line is long Ben & Jerry’s is right next door!

2010 Free Family Film Festival Schedule

Old Mill Stadium 16 680 SW Powerhouse Drive Bend ,OR 97702

July 13 – 15, 2010 Rugrats The Movie (G) Ice Age: Dawn Of The Dinosaurs (PG)
July 20 – 22, 2010 Rugrats In Paris (G) Kung Fu Panda (PG)
July 27 – 29, 2010 Wallace and Gromit (G) Cloudy With A Chance Of Meatballs (PG)
Aug 3 – 5, 2010 Jimmy Neutron: Boy Genius (G) Monsters Vs. Aliens (PG)
Aug 10 – 12, 2010 Doogal (G) Hotel For Dogs (PG)
Aug 17 – 19, 2010 Muppets From Space (G) Paul Blart: Mall Cop (PG)

Pilot Butte 6 2717 E Highway 20 Bend ,OR 97701

July 13 – 15, 2010 Charlotte’s Web (G) Planet 51 (PG)
July 20 – 22, 2010 Rugrats The Movie (G) Ice Age: Dawn Of The Dinosaurs (PG)
July 27 – 29, 2010 Rugrats In Paris (G) Kung Fu Panda (PG)
Aug 3 – 5, 2010 Wallace and Gromit (G) Cloudy With A Chance Of Meatballs (PG)
Aug 10 – 12, 2010 Jimmy Neutron: Boy Genius (G) Monsters Vs. Aliens (PG)
Aug 17 – 19, 2010 2010 Doogal (G) Hotel For Dogs (PG)

For more things to do in Bend, OR check out our new site http://ThingstodoinBendOregon.com or become a fan on facebook!

©2010 Bend Oregon Real Estate Blog. All Rights Reserved.

If you’ve ever been down to Old Mill District or Drake park you’ve surly seen people floating the river on Stand Up paddle Boards.   Head on down to the Sunriver Resort Marina for some Stand Up Paddle Board fun or competition.

If it’s your first time on a paddle board sign up for Stand Up Sunday’s for free paddle board lessons.  The number of participants for the free Sand Up Sunday’s is limited so make your reservation in advance. More information and registration is available on their Facebook Page.

If you’re a paddle board pro then the 2010 Naish Stand up Paddle Board Championships are for you.  Compete in the 7 week series for a chance to attend the championships at Lake Tahoe. The top 3 men and women from the series will receive an invitation to the Championships.  For more information on the events visit the Sunriver Resort Marina‘s web page.

2010 Naish SUP (Stand Up Paddling) Championships at the Sunriver Resort Marina competition dates and FREE Sunday Paddling dates are:

7/11/2010
7/18/2010
7/25/2010
8/1/2010
8/8/2010
8/15/2010
8/22/2010

Entry fee is free with your own board, or rent a board for $25 per race or $75 for the entire seven race series. Competitions will be from 2:30 to 4:00 p.m. and maximum board length is 12′ 6″.

Check out this short video by the folks at Sunriver Resort Marina about Paddle Boarding.
Don’t forget to LIKE Things to do in Bend, Oregon on Facebook!

©2010 Bend Oregon Real Estate Blog. All Rights Reserved.

The COBA tour of homes begins Friday and runs all weekend.  This year there are 37 homes featured through out Bend, Redmond, Powell Butte and Sisters on the Tour of Homes this year.  A 2010 COBA Tour of Homes Event Guide is available online if you want to scout out your route. The event guide is also avalable at the COBA office.

COBA Tour of Homes Schedule

Friday, July 16, 2010 12:00 pm – 6:00 pm

Saturday, July 17, 2010 10:00am – 6:00 pm

Sunday, July 18, 2010 10:00 am – 6:00 pm

The COBA Tour of Homes judging categories include – Best Landscaping * Best Kitchen * Best Interior Finish * Best Master Suite * Best Garage * Best Feature * Best Architectural Design * Green Building * Best Value * Best of Show

Green homes will be judged in the following categories – Site Design * Resource Efficiency * Indoor Air Quality * Efficient Building Design * Other Innovations

Don’t forget to LIKE Things to do in Bend, Oregon on Facebook!

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©2010 Bend Oregon Real Estate Blog. All Rights Reserved.