What's in a Short Sale Packet?

When listing your Bend, OR home as a short sale you'll need to prepare a short sale packet.

When listing your home as a short sale in Bend it is a good idea to begin gathering your financial documents while interviewing real estate agents.  A well prepared short sale packet can make the process a bit easier.  As the seller you will be responsible for providing your financial information and your real estate agent will help prepare the contracts and assist you along the way.

What is the short sale packet?

The short sale packet is the collection of documents your real estate agent will submit to your lender.  The lender will then review the documents, assess the value of your home and determine whether or not to approve a short sale.

What is in the short sale packet?

Listing Agreement

Sales Agreement

HUD-1

2 Years tax returns

2 Months of bank statements

2 Months of mortgage statements from each loan

1 Month of Pay-Stubs

Financial Hardship Letter

Financial Worksheet

Authorization to Release Information

Additional supporting financial documents

.

Short sales can take several months to receive bank approval.  During this time your lender may ask you to resubmit financial documents such as pay-stubs and bank statements.  After you submit the initial financial documents to your real estate agent, it is a good idea to keep a file with any new pay-stubs, bank statements, mortgage statements and any other pertinent bills. This way you have the paperwork ready to go when the bank asks for it and you can help speed up the road to approval.

At Taft Dire we are experienced in negotiating short sales.  If you have any questions regarding the short sale process or listing your Bend, OR home please contact us for free confidential information.

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Home Prices in Bend are UP - Here's Hoping it's a Trend!

Home Prices in Bend are Up in August - Here's hoping it's a trend!

The Bend Bulletin posted the following article this morning:

The median sales price of a single-family home in Bend bounced back up last month to $190,000 after diving to $175,000 in August, according to a report Tuesday from Bratton Appraisal Group of Bend.

While September's median was 8.6 percent higher than August, it was still 4.5 percent below September 2009, when the price was $199,000.

Redmond's median sales price also rebounded in September, rising 19.6 percent from August to $122,000. But that was down 21.3 percent from the September 2009 median of $155,000.

Bend's peak sales price was $396,000 in May 2007. Redmond's was $289,000 in November 2006.

Bratton's numbers do not include condominiums, townhomes, manufactured homes and acreage.

In Bend, the median sales price per square foot — considered in the industry to be a better measure of value — was $108 in September, up from $99 in August, but down from $113 in September 2009. In Redmond, the median sales price per square foot rose to $76 from $70 in August, but was down from $86 a year ago.

I personally have seen an increase in activity from both buyers and sellers. In addition to these numbers, there are currently 95 bank owned homes listed for sale in Bend. With the nationwide halt to foreclosures by several national lenders we may see a decrease in bank owned homes hitting the market in Bend. Not all lenders are halting foreclosures so the constant stream of bank owned homes hitting the market in Bend may be here to stay. Since Sunday 10 foreclosures have come on the market. Either way, it's a good time to buy a home in Bend!

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Sunriver Bank Owned Homes

Sunriver, OR Bank Owned Homes.

Bank owned homes update: As of Sunday, October 10, 2010, there are currently 5 bank owned homes for sale in Sunriver. Over the past week there have been numerous reports in the news regarding Bank of America as well as other banks stopping their foreclosure process. This may temporarily slow the number of bank owned homes hitting the Bend real estate market, making short sales a more popular option for purchasing homes at below market prices.

Contact us today to have a free list of bank owned homes delivered directly to your email. For a customized list please include any specifications in your email: price, size, location, etc.

Visit our website for a complete list of bank owned homes in Sunriver.

Bend Bank Owned Homes

Bend, OR Bank Owned Homes.

Bank owned homes update: As of Sunday, October 10, 2010, there are currently 85 bank owned homes for sale in Bend. Over the past week there have been numerous reports in the news regarding Bank of America as well as other banks stopping their foreclosure process. This may temporarily slow the number of bank owned homes hitting the Bend real estate market, making short sales a more popular option for purchasing homes at below market prices.

Contact us today to have a free list of bank owned homes delivered directly to your email. For a customized list please include any specifications in your email: price, size, location, etc.

Visit our website for a complete list of bank owned homes in Bend.

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Foreclosure Help

Bend Oregon Home Owners - Helpful Links to Help you Avoid Foreclosure

While Google searching for foreclosure resources in Bend, Redmond or anywhere I've come across tons of sites that say they'll help if you sign up for this or that. The last thing you need if you're concerned about the foreclosure process is to be bogged down by un-helpful information.

So, here it is - the links you need. All of the links below are government or national agencies that are here to help you, the home owner. I haven't personally spoken with the folks on the other end of the line so I can't verify the level or ease of service or the outcome, but hopefully it gives you a place to start.

The Department of Housing and Urban Development (HUD)

Guide to Avoiding Foreclosure. Information includes local counseling services, refinance information, and details on the foreclosure process.

HUD Approved Counseling Agencies in Oregon (this link will take you to the list of local agencies in Central Oregon).

Making Home Affordable

Making Home Affordable is a government program implemented by the Obama administration designed to assist homeowners who have loans backed by Freddie Mac or Fannie Mae refinance their mortgages in order to say in their homes. The website will assist you in determining if you qualify for the program as well.

Freddie Mac

Avoiding Foreclosure. Includes detailed information on counseling agencies, talking to your lender and basic terms.

Working with your Lender has a list of questions to ask as well as documents to have available when discussing foreclosure with your bank representative.

Mortgage Bankers Association

Foreclosure Prevention Resource Center. Information on the foreclosure process and what steps can be taken to avoid foreclosure.

The Lender Contact page has phone numbers and websites to contact your lender directly regarding difficulty in making payments. The majority of the Big Name banks are listed here. Also, remember to talk with the Loss Mitigation Department not Customer Service.

Internal Revenue Service

For tax information on home foreclosure and debt cancellation view the IRS website, although, you may need a qualified accountant to help make sense of the details and jargon.

If you're a Bend, Oregon home owner looking to stall the foreclosure process hopefully these links will provide you with the assistance you need.

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Things to Do in Bend - Munch and Music Free Concerts in Drake Park

Things to Do in Bend - Munch and Music Free Concerts in Drake Park I hope you're as excited as I am! Tonight marks the first night of Bend's annual Munch and Music Free Concerts in Drake Park. 2010 marks the 20th anniversary of Munch and Music. Cameron Clark the owner of C3 Events is the brains behind the event - way to go Cameron! So pack up your blankets, small chairs, snacks and family and head over to Drake Park for this fantastic free concert series perfect for adults, kids, families everyone!! If sitting in the grass and crowds aren't for you, get out your raft, kayak or canoe and listen to the music from the Deschutes River. Alder Creek Kayaks will be there with rentals as well.

Time: Thursday's 5:30 pm - 9:30 pm

The Summer 2010 Munch and Music Line Up

July 8 - Aphrodesia

July 15 - Jerri Jheto Reggae

July 22 - Paula Clole

July 29 - Orgone

August 5 - Jah Sun

August 12 - Crazy 8's

You can bring a sack dinner to keep the evening completely free or bring a little cash and purchase your dinner from one of these fine local eateries:

Goodys, Famous Kettle Corn, Hawaiian Shaved Ice & Cotton Candy, Donut Divas, Hapa Treats, Sumi's Japanese Restaurant, A Crepe Affair, Rileys , York City Sub Shop Spork, Whole Foods, Taqueria Los Jalapenos, Ben & Jerrys Longboard Louie's, Pizza Mondo, Kebaba, Pita Pit, Keoke - Cactus Jacks + Ice Cream Dreams, Veraci Pizza, Demetri's Island Noodles, Morelia Grill, Pilot Butte Drive-In Trails End BBQ.

Thank you to Bend Memorial Clinic, The Bulletin and Whole Foods Market and the partner sponsors for bringing us the 2010 Munch and Music in Drake Park free concert series. In the tough Bend economy it is great to have a community of business' bring us free fun for the whole family. FREE MUSIC, FOOD, FUN, FAMILY & FRIENDS - You can't afford to miss Munch and Music at Drake park this year!

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Fireworks Safetjy Tips for a Fun 4th of July in Bend, OR!

Happy 4th of July, Bend! Hope everyone has a fun and safe day! If you're planning on lighting your own fireworks as most of us do; here's a few Safety Reminders for Fireworks Use from the Bend fire department via KTVZ.

Have a bucket of water or a hose nearby in case of a fire. Choose a location on a non=combustible surface, such as concrete, dirt, or gravel, far away from buildings, trees, grass and vegetation. Only adults should handle and discharge fireworks. The minimum age to buy, sell, or use fireworks in the City of Bend is 18; the minimum age in the rest of Central Oregon in 16. Never alter fireworks or try to make your own. Never pick p or attempt to re-light a dud. Soak all spent fireworks and "duds" in a bucket of water before disposal.

Here's a little fireworks safety demonstration by the Consumer Products Safety Commission - YIKES! Another safe option is watching the Fireworks Spectacular at Pilot Butte which can be viewed from all over town. The fireworks are schedule to launch at 10:00pm. For more information on additional 4th of July events in Bend including the fireworks, pet parade, Drake Park Festival, Pancake breakfast and Free Staxx Concert; visit my previous post Bend, Oregon's July 4th, 2010 Activities, Events & Fireworks!

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