Press
The Hasson Company's Buccola Group plays major role in selling REO properties
A bright spot in a tough market helping NW communities and smaller financial institutions
Portland, Ore – June 30, 2010 – Although recent reports show the housing market beginning to stabilize nationally, residential foreclosure rates in Oregon increased 2.58 percent from a year ago. RealtyTrac, an Irvine, California-based company that tracks foreclosure activity, reported that one in every 517 housing units in Oregon received a foreclosure filing in May, totaling 3,146 for the month and 19,176 year to date.
Real Estate Owned properties (REOs) that have been foreclosed on and taken back by banks or other financial institutions have had a major affect on local real estate markets. Yard signs displaying "Bank Owned" banners are becoming more and more common as the backlog builds from multiple years of a slow housing market and record numbers of foreclosures.
The Buccola Group, led by Gene Buccola with the Hasson Company, developed a strategy to sell these properties in a timely and effective manner as the crisis unfolded. They have closed $60 million in REO property transactions in the last 2.5 years. Gene Buccola, personally, has sold 3000 properties throughout his career. "Knowing the current market is important, but knowing where it is going is also important," says Buccola. "We saw some similarities with the early 80's real estate market and are using that knowledge to navigate today's market".
Buccola's expertise goes beyond residential housing. The group has closed numerous transactions on land, commercial and industrial properties, and multi-family buildings. Public records show that Buccola represented the seller of Awbrey Pines Apartments, one of the largest commercial sales in the past 24 months in Deschutes County, at a sales price of $6,250,000. "We are a resource in the region with national ties that helps the smaller banks deal with a huge problem. The troubled assets are a drain on financial institutions and local communities," said Buccola. "We know the responsibilities involved in being the ‘eyes and ears' for lending organizations. Our team has the local expertise that financial institutions rely on to get REO properties sold as quickly as possible."
A real estate professional for 32 years, Buccola and his team— Ryan, Tim, and Cande Buccola, Kelley Solberg, Gail Milton, Catherine Scanland, Kira Bailey, and Jim Cihak—have worked with a number of financial firms over the years and understand how to carefully manage the many details of third-party sales like REOs. In addition, Kelley is dual-licensed in California and Oregon, Ryan is licensed in Washington, and they have added a broker in Idaho. Leveraging these relationships, The Buccola Group is able to expand their marketing throughout the Northwest region of the United States.
Having worked with hundreds of REOs for over 30 years since beginning his career in 1978 in Corvallis, Ore., Buccola has assisted individuals and families in the purchase and corporations in the liquidation of REO properties.
About Hasson Company Realtors
Beginning in 1983 with 32 agents based in Lake Oswego, Ore., The Hasson Company today is the Pacific Northwest's leading independent real estate brokerage with 265 real estate agents who closed in excess of $1.1 billion in residential real estate throughout Oregon and Southwest Washington in 2008. Hasson Company Realtors ranks No. 1 in the Pacific Northwest for the highest average sales volume per agent, according to the 2009 RISMedia Power Broker Report.
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For all press inquiries please contact:
Anya Rosenfeld, Marketing Coordinator
Hasson Company Realtors
Phone: 503-534-1514
Email: anya@hasson.com
The Hasson Company's Buccola Group Announces New REO Marketing Program
BEND, Ore. – June 3, 2008 – Foreclosure is a term used often when speaking about the state of the recent real estate market. According to the April RealtyTrac U.S. Foreclosure Market Report, Oregon’s foreclosure rates jumped 121 percent from April 2007. Approximately 1,627 properties were in some stage of foreclosure in April, which equates to one in very 975 households in the state. Nationally, more than 243,353 properties were in foreclosure in April, or one in every 519 U.S. households.
Along with foreclosures come Real Estate-Owned homes (REOs), which are homes that have been foreclosed and taken back by banks or other financial institutions. These homes are then re-listed with a Realtor to sell. These days, it is not uncommon to see more and more yard signs with “Bank Owned” banners displayed.
In response to this increasing phenomenon, The Buccola Group, led by Gene Buccola with The Hasson Company’s Bend branch, has developed a strategy to sell these homes quickly and effectively.
A real estate professional for 30 years, Buccola and his team—which includes his two sons, Ryan and Tim, daughter Kelley, wife, Cande, buyer’s agent Gail Milton, and buyer’s/seller’s agent Kira Bailey—have worked with a number of financial firms over the years and understand how to carefully manage the many details of third-party sales like REOs.
“We know the responsibilities involved in being the ‘eyes and ears’ for lending organizations,” says Buccola. “In a market like the one we currently find ourselves in, banks don’t want to sit on their inventory; they want their listings to move immediately. Our team has the local expertise that financial institutions rely on to get REO homes sold as quickly as possible.”
Additionally, Buccola’s daughter Kelley is dual-licensed in California and Oregon and his son, Ryan, is licensed in Washington. Leveraging these relationships, The Buccola Group is able to further their REO marketing through referrals up and down the West Coast.
Working with dozens of REOs annually, Buccola has assisted individuals, families and corporations throughout the Northwest for the past three decades. Beginning his career in 1978 in Corvallis, Ore., his expertise in residential real estate includes commercial real estate and investment properties from the Willamette Valley to the high desert areas of Bend and Redmond.
About The Hasson Company Realtors
Beginning in 1983 with 12 agents based in Lake Oswego, Ore., The Hasson Company today is the Pacific Northwest's largest independent real estate brokerage with nearly 300 real estate agents in eight branches throughout Oregon and Southwest Washington.
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For all press inquiries, please contact:
Tania Rain, Marketing Director
Hasson Company Realtors
Phone: 503.534.1522
Email: tania@hasson.com
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Mountains. Sun. Small-town fun. You'll find central Oregon's adventure hub hopelessly addictive
Sunset Magazine February 2008"Whoever visits bend, moves to Bend," people warned. So frequently, in fact, I took it to be the official motto of this always sunny central Oregon playground...
Central Oregon Hasson Broker Reaches 3,000 Transactions Mark in His 30-Year Career, Attributes Success to Finding Niche
BEND, Ore. – January 12, 2007 – Gene Buccola knows real estate. And after 30 years in the industry, he well indeed should! A real estate professional with The Hasson Company’s Bend branch, Buccola recently reached the 3,000 transactions mark in his three-decade career, achieving a proud moment in his life and a rare feat within the industry.
Beginning his career in 1978 in Corvallis, Ore., Buccola cites the independence and diverse opportunities – from residential and relocation to commercial and development – as factors that first attracted him to the industry as well as what has helped him find his niche in the ever-changing real estate market.
“Our industry is constantly changing, and as I reflect over 30 years, the most positive changes have been technology and agency,” says Buccola. “Both of which have given us better tools in which to perform our trade. The industry will always be in a state of change and change is healthy.”
As his business developed, Buccola’s expertise in residential real estate grew to include commercial real estate and investment properties from the Willamette Valley to the high desert areas of Bend and Redmond. He has worked with area land developers and builders by spearheading highly successful marketing and sales programs to promote new construction. His expertise has supported quality subdivisions throughout Oregon. Buccola is an expert at helping all types of clients – from first-time homebuyers and corporate transferees to builders, developers and commercial investors.
Buccola has achieved success over the course of his career and expanded the geographic region he covers from Central Oregon and mid-Willamette Valley to up and down the entire West Coast. Averaging approximately 100 transactions a year for the last 30 years, Buccola has assisted individuals, families and corporations throughout Oregon, Washington and California. Part of this success is a result of the team of professionals that have assisted Buccola in his efforts, including his two sons, Ryan and Tim, daughter Kelley and wife, Cande.
In addition to his career as a Realtor, giving back to his community is also a priority for Buccola. He is a member of Arts Central of Bend and the Bend Chamber of Commerce, and past president of the Board of Directors of Benton Hospice Service, board member of Good Samaritan Hospital Foundation, United Way and the Children’s Farm Home in Corvallis.
Home Sweet Homes
Marin Magazine July 2007
Affluent baby boomers are fueling the trend of owning second homes in more than one place. Gene Buccola speaks to outdoor enthusiasts about Bend Oregon.
