The Hasson Company's Buccola Group Announces New REO Marketing Program

Date: 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 every 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. In 2006 and 2007, The Hasson Company Realtors ranked number one for average sales volume per agent of companies with more than 200 agents according to the RIS Media Power Broker Report.

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For all press inquiries, please contact:
Tania Rain, Marketing Director
The Hasson Company
Phone: 503.534.1522
Email: tania@hasson.com

In the News

June 3, 2008 - Portland Business Journal reports about The Hasson Company's Buccola Group