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Terri Visser,CRS - Selling Central Oregon Real Estate

Free Health Care Clinic in Redmond ~ Fundraiser to Support City Care Clinic ~ Sept. 30th

Save the Date! Friday September 30th, 2011 @ 6:00pm
For our 3rd Annual
An Elegant Evening Out to Support
City Care Clinic - Free Health Care in Remdond, OR

Providing Free, compassionate Health Care to those in need within the Central Oregon area.

Join us @ Eagle Crest Resort
For heavy Hors d’oeuvres, Silent & Live Auctionitems, and no host Cocktails

to Support

Redmond’s only Free Health Care Clinic.

Last year's event raised enough funds to support the clinic at it's current capacity for a full year!
It was also a fun evening out with friends and colleagues. Please help us keep the clinic going for another year.

Ticket Prices:
  • Individual Tickets: $45 - Open Seating
  • Corporate Table (8): $450 - Reserved Seating
Interested in donating items or services for the auction? Maybe you would like to be a corporate sponsor? Can’t attend the event but would like to donate anyway? Please contact Terri Visser at terrivisser@yahoo.com or (541) 410-4978.
818 SW Forest Ave
Ph: (541) 316-2582



Silent & Live Auction Items Needed!

Thanks!
Terri Visser,
CRS
(541) 410-4978

Desert Sky Real Estate, LLC
Principal Broker/Co-Owner
www.TerriVisser.com

Buying and Selling HUD Homes ~ What is an Uninsured Property?

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HUD Homes - Uninsured (UI) Properties & Financing
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I have had several calls recently asking what it means when a HUD Home is listed as Uninsured (UI). 

 

I can understand how that could be read as the inability to obtain homeonwers insurance on a property, so I will try to better clarify the term.

 

Uninsurable (UI):

  • First 5 Days:  Owner Occupant Bidders only
  • Property does not qualify for FHA financing and typically requires more than $5,000 in repairs or does not meet FHA lending guidelines for other reasons.
  • The Initial Bid Review is on the 6th Day.  Bids from the first 5 days are opened and reviewed simultaneously, then daily thereafter if a bid is not accepted. 
  • Day 6:  Available to all including Investor Bidders
  • Non-FHA financing or Cash required.

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Uninsured Properties Often Start with a  Lottery Period 

 

What is the Lottery Period?

 

Certain property eligibilities allow Good Neighbor Next Door participants, HUD registered non-profit organizations, and government entities to bid on the property prior to becoming available to Owner Occupant bids. These properties, which are usually located in HUD designated revitalization areas, or are in areas determined to be uninsurable, are available in the Lottery period for 7 days.

 

Properties in the Lottery Period can be found at  www.HUDHomestore.com during the Lottery Period even though they are not yet available to "normal" buyers.   They will not be in the MLS until the Lottery Period has ended and they are available to Owner Occupants.

 

  Bids are reviewed Monday - Friday mornings, excluding Holidays.

 
A bid placed on Friday - Sunday will be reviewed on Monday. 

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518 F Ave, Terrebonne ~ $50,000
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HUD Home on 2.5 Acres.

  • Bedrooms: 3
  • Baths: 1
  • Sq.Ft: 1824
  • Year Built: 1935


    201103876

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8336 SW High Cone Dr, CRR ~ $69,600
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HUD Home on 1.5 Acres.

  • Bedrooms: 3
  • Baths: 3
  • Sq.Ft: 1972
  • Year Built: 1994

          201010507

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14140 SW Stallion Dr ~ $275,000
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3.29 Acres in CRR

 

  • Bedrooms: 2
  • Baths: 2
  • Sq.Ft: 1907
  • Year Built: 1999


     201104128

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1290 NE SMith Rock Way ~ $180,000
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Bare Land in Terrebonne

 

 

  • 4.28 Acre 
  • Fenced 
  • Power to Road
  • Smith Rock Views

     
    201010842

     

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Terri Visser, CRS
(541) 410-4978

Desert Sky Real Estate, LLC
Principal Broker/Co-Owner
www.TerriVisser.com

Licensed Oregon Real Estate Broker.

Buying and Selling HUD Homes ~ How Weekend Bids are Reviewed

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Clarification on How Bids Placed on Weekends are Opened & Reviewed.
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In order to keep all buyers and brokers on a level playing field with HUD Properties, it is my intent to share any insights I might be lucky enough to pick up along the way.


The process and order in which bids placed on weekends are handled was recently clarified for me.

All bids placed on a Monday through a Thursday are opened together on the following day.

  • For example: all bids placed at any time on a Wednesday are opened and processed at the same time on Thursday morning.

All bids placed Friday - Sunday are opened on Monday, however they are not all opened and processed at the same time.

  • Bids placed on Friday are opened and processed first.
  • If there is no winning bid based on the margins HUD has set, then bids from Saturday are opened and processed.
  • If there are still no winning bids, then bids from Sunday are opened and processed.

Unlike the initial 10 day bid period where all bids are opened on the 11th day for review, once the property reaches the daily bid period (day 11), bids are truly considered daily. Friday bids are processed before Saturday, and Saturday before Sunday.


Showing a property on a Sunday and submitting a bid does not have the same advantage as showing on Friday or Saturday and submitting a bid that same day.


Hopefully this helps to clarify the bid process. If you have additional questions don't hesitate to contact me!


Hud Logo Terri Visser
Desert Sky Real Estate, LLC
636 NW Cedar Ave Redmond, OR 97756
NAR Logo

HUD Home in Redmond, OR ~ 1946 SW 24th St ~ $46,000

1946 SW 24th Street
REDMOND, OR
HUD Home in SW Redmond.

3BR/2BA Single Family House
$46,000

Year Built 1998
Sq Footage 1,296
Bedrooms 3
Bathrooms 2 full, 0 partial
Floors Unspecified
Parking 1 Covered spaces
Lot Size 10,454 sqft
HOA/Maint $0 per month

Description

HUD Home in SW Redmond. Well maintained 1998 manufactured home with spacious fully fenced back yard and a white picket fence in the front. The back yard has a patio and built-in serving area perfect for summer BBQs. Open living space with ample room in the kitchen to gather family and friends. Move-in ready and waiting for it's new family!

Property Features

Central heatHigh/Vaulted ceilingWalk-in closet
Living roomBreakfast nookDishwasher
Stove/OvenLaundry area - insideBalcony, Deck, or Patio
Yard

Additional Photos


Front

Front 2

Living

Kitchen

Master Bath

Back
Contact Info
Terri Visser, CRS
Desert Sky Real Estate, LLC
(541) 410-4978
For sale by agent/broker


Equal Opportunity Housing

What is a HUD Home?

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What is a HUD Home?
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A HUD home is a property purchased with an FHA insured loan that has gone into default and been foreclosed on by the lender (BofA, Wells Fargo, Chase, etc) holding the note. The lender files a mortgage insurance claim on the FHA insurance and conveys the property to HUD. At that time the property becomes a HUD Home.

New HUD Homes enter the market daily. An FHA Appraisal is ordered prior to listing and the property is listed at (or occasionally below) appraised value.

Bids are reviewed Monday - Friday mornings, excluding Holidays.


A bid placed on Friday - Sunday will be reviewed on Monday.

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246 SE 5th Street ~ $33,600
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PRICE REDUCED $4,200.
HUD Home in Prineville.

Bedrooms: 3
Baths: 2
Sq.Ft: 1056
Year Built: 1994


MLS: 201010459

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3200 SW Peridot Ave, Redmond ~ $82,400
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PRICE REDUCED $10,300.
HUD Home in SW Redmond.

Bedrooms: 3
Baths: 2
Sq.Ft: 1235
Year Built: 2007


MLS: 201010408

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2686 NE Sugarpine Rd ~ $63,000
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PRICE REDUCED $7,000.
HUD home in Prineville.

Bedrooms: 3
Baths: 2
Sq.Ft: 1258
Year Built: 1997


MLS: 201010844

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816 Lakeshore Dr, Culver ~ $40,500
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PRICE REDUCED $4,500.
HUD Home in Culver.

Bedrooms: 3
Baths: 1
Sq.Ft: 1008
Year Built: 1970

MLS: 201010508

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Don't hesitate to contact me with any additional questions.

Terri Visser, CRS
(541) 410-4978

Desert Sky Real Estate, LLC
Principal Broker/Co-Owner
www.TerriVisser.com


Licensed Oregon Real Estate Broker.
OR Agency Disclosure Pamphlet


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