Portland Foreclosures - CLICK Image to Begin Searching

Portland is saturated with foreclosures and I personally believe that in 2010 we’ll see another “wave” hitting the market. This is great for buyers. I am finding deals in almost every area of town. There are a few types of distressed properties and I will touch on two of them today. First.. Foreclosures. Foreclosures are a different animal and usually mean the Seller will be doing a short sale to get rid of the property for less than what is owned. The Lender can either disapprove or approve this transaction. The average time to close on a short sale is three to six months.  Second, I would like to talk about Bank Owned. Especially Bank Owned Condos… This is where the homeowner already went through the foreclosure process and the property has reverted back to the bank. These homes can usually close in 30 days and have a clean title.

How to begin your search:

It’s easy..

1. Sign Up For Auction Alert – Free list of Foreclosures and Bank Owned Homes
   
2. Get Pre-Approved - Ask your loan officer how much you qualify for
3. Request a Showing - When you get an Alert of a home you are interested in.. Simply hit the “request showing” button

Auction Alert - Sign Up Here

Click the image to sign up. Just tell us your price range and the area of town that you are interested in. You will get an email notification that sends you a list of all Portland Real Estate.

That includes: Bank Owned Homes & Condos, Foreclosures, Short Sales, Home Auctions, MLS Homes, REO Listings and Retail Homes for sale.

What will my loan payments be?

Good question. A loan officer will give you exact figures but here is a good place to look for an idea of how much you’ll be paying monthly.

http://www.mortgagecalculator.org/

Thank you for taking the time to read my blog and please let me know if you have any question. Take care and good luck!

Aaron Majors

About the Author | Aaron Majors

• Author's website: http://www.PortlandHomeAuction.com
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Born and raised in Alaska, Aaron came to Portland after serving in the U.S. Marine Corps. Aaron enjoys the outdoors, volunteering, teaching, learning, and being active in the community. Always loving architecture and buildings, it seemed natural that Aaron's passion became Real Estate. He is a member of the Portland Metropolitan Association of Realtors, National Association of Realtors and is always continuing his Real Estate education. He sells Real Estate in the Portland metro area and specializes in selling Homes and has an extensive background in foreclosures, Home Auctions, Short Sales, Bank Owned homes, and investments.