I’ve been looking around Downtown for all the deals. I’ve started with bank owned condos. I found one on SW Harrison for $229,425 boasting two bedrooms and a remodel. If I were looking for a condo I would start with bank owned condos as well. With bank owned properties the bank has taken back possession and the home is usually vacant. Bank owned condos usually can close in 30 days too. I don’t know of any other two bedroom condos downtown in this price range. I feel this is a great deal. After you have seen all the bank owned condos then I would check on foreclosure condos. The homeowners are usually still living in the condo and it more than likely will end up being a short sale which may take three to six months to close but the cheaper price might be worth the wait.

I predict that in about 120 days that Portland will see another condo auction just like the one that happened on the South Waterfront for the Atwater PL condos. Auctions are a growing trend around the nation and are stimulating the market with sales and activity. Last I checked there were about 800 condos on the market here in town. I feel that these auctions are going to be necessary to get the housing market leveled out. It’s no secret that Portland was over built during the real estate boom and now everyone is paying the price. I say this because everyone I know has been effected by the housing crisis in one way or another. Home owners, developers, home buyers, Realtors, construction workers, inspectors, re-modelers, building supply stores, and many more people have all felt effects.

Find The Deal:

“Auction Alert” is a feature at PortlandHomeAuction.com. This feature will allow you to receive instant notification every time a distressed property comes on the market. Just follow the link to the website and click the “Auction Alert” icon on the top left of the screen.

SEARCH ALL HOME IN PORTLAND METRO

Best of luck,

Aaron Majors

About the Author | Aaron Majors

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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.