I have represented alot of buyers and occasionally run into the home with NO sewer system. We run across homes on cesspools, party lines, etc. but NO sewer? Yep. An appraiser or inspector isn’t necessarily going to catch it if the home drains out into the backyard.
I’ve listed all the REO properties just listed or price reduced for Portland today but one home for sale in here captured my attention…. Home in Happy Valley, with a POOL! We are currently selling our home and have found ourselves to be our own worst clients as even after seeing over 50 homes in Happy Valley alone we could find ANYTHING that interested us or compared to what TA Liesy Homes NW could build for us new… SO we are renting. Why am I rambling? This home in Altamont has a swimming pool, views! Not too many of those! Great area! Great opportunity! Happy Valley is our specialty; and we know the inventory there inside and out. -Kristie McD.
Good Neighbor Next Door HUD Program: I had a client recently inquire about the GNND program, a program setup for teachers, firefighters, policeman…. to purchase HUD owned homes at 50% off the asking price. I’m familiar with the process of purchasing HUD owned homes but this program proved to be even more challenging. By the way, there is only ONE agent that lists HUD homes in the Portland area and he is not helpful so find an agent that already knows the process. ANYway, after searching online I only found the same regurgitated information; information that I’m sure you have already found if looking into the topic. Below is additional information that you will not find easily. This information may vary from state to state but this is appicable for Oregon. The tricky parts of the program: (more…)
Today’s just listed and price reduced REO homes today have an interesting house for sale… it’s in West Linn at 25255 SW Petes Mountain Road and is intriguing! Priced at $709,900. Taxes are based on $1,129,667 incase you’re curious. I think I would be looking into a tax appeal on this one). This home sits on over 5 1/2 acres!
Here is today’s list of foreclosures! If you are interested in receiving a daily email with the bank owned listings homes just listed for sale click here and sign up! This list includes everything from Government Camp to Johns Landing to Wilsonville to Hillsboro! Let me know if there’s something you’d like to tour! -Kristie Your Portland Realtor!
Short sales are notoriously risky, unreliable and frustrating primarily because of
how the banks are processing them; at a snails pace and often void of logic and reason. As Realtors in the Portland market we’ve seen more than our share of short sale transactions and we’ve seen a number of them go to foreclosure, list and sell for a price very close to a short sale offer that was on the property before it foreclosed, occasionally for more than the REO list price. This is doing a dis-service to everyone involved including the bank itself as it’s not cheap to foreclose on a home. The National Association of Realtors yesterday aired some grievances about the foreclosure, loan modification and short sale processes and have apparently been meeting with some of the largest banks to discuss these issues, like Bank of America, Wells Fargo and they have meetings scheduled with JP Morgan Chase and Citi. Read more about it here if you’re an Inman subscriber or here if you are not (yes, the latter is a blog, but it posted the article subscription free).
Interesting times…. want the quick scoop? Watch my favorite lenders Think Big Work Small on the topic. In a nutshell, I’m hearing that some home buyers that were supposed to close this week on a bank owned home they were purchasing are seeing the closing dates postponed, in some cases the bank has “bought the house back” (terminated the transaction) or in some cases are experiencing no difficulties at all. Honestly? This is good on many accounts… if the drama continues buyers who really need a homes will begin focusing on homes that are being sold by homeowners, not banks… good for sellers. And I have to add that this couldn’t be happening to a better batch of agents! What? The majority of the agents representing banks are atrocious to work with. The majority of them have poor customer service, are overloaded with listings and manage the sales poorly or just simply have taken sales for granted while ignoring phone calls, not returning emails, and poorly representing their clients. 
Take a peak at this video, these guys keep me up to date on all the mortgage lending issues pertinent to the real estate industry! Sounds like Wells Fargo won’t be sitting on their foreclosure inventory like many of the other banks have been doing…. I agree that we need to rip the band aid off and get through this market.
The latest market report for the Portland Real Estate market shows a steady level of continued price reductions on homes for sale around the Portland Metro area. Back in August we talked here on the McDonald Group Real Estate blog about the Portland Business Journal article stating that thirty-two percent of Portland homes for sale in early summer experienced at least one price reduction, ranking Portland No. 16 on Trulia’s list of price reductions in America’s 50 largest cities. Those numbers are sticking around.
CLICK HERE for today’s just listed and price reduced bank owned listings for sale. The great finds get multiple offers immediately. I Twitter the Portland area foreclosures daily so you can catch them there if you want to watch for them. Tomahawk Island has a houseboat in here, there are also great prices on condos in that area; if you are interested to know more ask me! -Kristie McDonald, Your Portland Real Estate Agent!
In a report published in the Portland Business Journal yesterday, we learned that thirty-two percent of Portland homes for sale, listed since the beginning of this month, experienced at least one price reduction. That ranked Portland No. 16 on the website Trulia’s list of price reductions in America’s 50 largest cities.
During the week I see 65 ish just listed foreclosures on a heavy day, but the weekend? Usually the listings are low… I am shocked. 101 REOs today! CLICK HERE Seemed there were excess listings in Tigard & Beaverton…. the west side of Portland is definitely not immune. The gradual increase in foreclosures is a reminder that if you are selling your home and NEED to sell, you need to be competitive. There are plenty of home buyers out there but they are looking for a deal so your home has to be at it’s peak and priced ahead of the market. Make sure your listing agent is watching the inventory around your home regularly! -Kristie McDonald, your Portland Realtor
The list for Portland’s Bank Owned just listed/ price reduced is smaller today. I noticed alot of homes listed in Gresham and Gladstone in this batch. Occasionally I see a home worth noting.. there is one in Persimmon (everyone’s heard of Persimmon Golf Course right?). At one point this home was listed as high as $630k, close to it’s taxed assessed value, now you can catch it $400k. The elementary is Hogan Cedars, I hear good things about that one…. call me if you want to tour! Below is a link, remember it’s only good for 2 weeks and I Twitter the REO lists everyday on my Twitter account! -Kristie McD. (503) 577-9395
Today’s list is quite big for a Saturday. Remember that this list includes just listed AND price reduced! This list does not include short sales (short sales are not bank owned homes). There’s one in here for Sandy, remember that Sandy qualifies for USDA zero down financing! CLICK HERE to see Today’s Bank Owned Homes for Sale! Remember, if you need an amazing Realtor call the McDonald Group Realtors! (503) 577-9395.
