That’s alot of Bank owned listings today, especiall for a weekend… however, as usual, the majority of them are under $250,00 and the majority of those under $200,000. Not too many higher end homes, if you are looking for something in West Linn there is a great one towards the end of the report. If you aren’t already working with an agent and want to see something let me know! -McDonald Group Realtors
Wow! The one on 13428 SE KANNE RD in Happy Valley is a great price & home; $357,000 and under $90 per sq. ft. I expect it will sell over asking. There are 29 REO listings in today’s link (below), that’s quite a few~! Good catch in Lake Oswego too! Anyone looking for acreage in Sandy for under $210,000 I have a new listing coming up; ask me about it! -Kristie McD.
This is alot of REO listings for a Saturday! There are some good ones in here but as usual most of these are the less expensive $250,000 and unders that are best for first time home buyers and of course if they are beat up enough that they won’t finance then the investors can jump in for the kill with that cash they pulled out of the market!
37, wow! Investors, there are some great cheap homes in here. And if you aren’t an investor but want a great home and love the popular Irvington Neighborhood, check out the one for $500,000 located at 2216 NE 17th Ave. Remember, if you want to see any of these (and you aren’t already working with a Realtor) give us a call! I think I even saw a houseboat in here!!! -Kristie Your PDX Realtor
Here’s the line up for today folks! There are some great ones in here for West Linn. I just toured a great home in West Linn two days ago that was a REO bank owned, it went pending in less then 4 days. A GREAT find and in really good condition for $450,000. Just needed the gold hardware exchanged out and some of the oak painted! -Kristie McD
I have a few clients looking for those great deals in the $600k and above range, this home in Beaver Lake Estates on Monpano Overlook Drive fits the bill! There are some amazing homes in Oregon City, many of them similar to what you saw on the Street of Dreams a few years ago. For you West Portland people, Oregon City isn’t THAT far out!
Here’s the line up for 10/10. Pretty typical although the Victorian was worthy of a note. Also another condo in the Pearl District! As usual ALOT of homes under $200k. CLICK HERE FOR REO PROPERTIES LISTED 10/10
Here’s the line up of bank owned homes today! I don’t think I saw any for Happy Valley in here; that’s a great sign that things could be improving as there is a decrease in Happy Valley REO “just listed” this last week!
I watch every day to see what’s going on with bank owned listings. It gives me an idea of what price range is struggling, how my listings are effected by the inventory increase, what areas are getting hit, etc. I’ve been posting the bank owned properties daily on my twitter but I will try to bring them here every day or two as well! I see about 20-30 list daily although many of them may only be price reduced bank owned. -Kristie McD. Your buyer’s agent for bank owned! (I got them down!!!) 
I’d like to start off by saying there are some fantastic listing agents out there selling bank owned homes. I particularly love working with the Erickson Brothers. With that said there are ALOT of bank owned listing agents out there that suck! Scott and I often use our blog to vent and tonight is one of them (for me anyway).
We’re seeing lots of new activity in the market and RMLS’ posting of Oregon and Washington lockbox activity numbers shows the increased activity:
With short sales the seller is already risking getting a 1099 for the difference of what they owed 
on the home and what it sold for after their “bank” approved the sale, this is known as phantom income. As such it’s standard practice for Realtors talking to a seller about selling short to advise them to speak to a CPA and/or real estate / tax attorney about the tax consequences before doing it…Well, it’s getting even more complicated now, apparently there’s a new trend of lenders beginning to require sellers to sign a note to repay that difference or they will not allow the sale; this is on top of the 1099.
An interesting article from the New York Times came out, you can catch the link below….. I guess Portland has it good because when I read stories like this one I’m flabbergasted. We have our squatter problems but I have not seen any true indications that it is organized here in Portland to the extent I read in the article.
Usually the weekend REO list is very short but today we have quite a collection.