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”.
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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.
AHAHAHAHA buy in Bend you got to be kidding. I’ve been here since 1992 and I watched Bend Boom and Bust. Bought in 2001 and sold in 2007 to bad I lost it all in 2009! Starting over in 2010 and Bend still has a long way to go. I’ve had 4 friends walk away from their homes in the last month and a half a dozen more who are thinking about it. Had two friends buy last year and they are under water this year ouch!!!!! I’ll continue to rent for 2 or 3 more years as I watch 5 year arms sold in 2005-2008 come to term. The bubble will contine pop and alot of people and realtors are in denile.
The housing market, will, make a comback. Just give it time.
I got stuck in between two houses and now have two underwater mortgages. My credit rating is very high and I don’t want to harm that so I managed to refinace at the lowest rate that I could swing and am riding it out. But, it does drain my resources and I often think of what I could be doing if I had just been able to sell that house. I can only hope that it will at least swing up enough to one day make my investment at least an even one.
I highly recommend patrick.net for those who’ve never seen it. Well worth a few minutes a day –