We sold our two homes in Bend years ago, and you’ll recall how upsetting it was to see my former home in shambles afterward.
In 1995, I bought this home for $88,000.
In 2006, I listed it for $240,000 eventually selling it for $281,000.
In 2008, it was foreclosed upon.
In 2009, the bank sold it for $93,000, only $5,000 more than my original price back in ’95.
Someone bought it, has fixed it up, and now it’s back on the market for $179,000.
So does this mean that Bend is once again the “hot-spot” for flipping real estate? According to a recent article in U.S. News & Money Report, Bend is the 6th-ranked most “underwater housing market”.
I read a local Bend realtor’s blog and can’t believe how low some of the homes are selling for. Beautiful, custom homes with intricate woodworking, tile, waterfalls, acreage…. some of which sold a few years ago for hundreds of thousands of dollars more than the current listing price.
Would you invest (or re-invest) in real estate in Bend, Oregon?
It sure seems tempting.