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.
A pre-approved short sale! (What does that mean you ask?- Read further below). In the meantime, a GREAT HOUSE at a great price! (more…)
I Tweet this list almost every day but thought I’d toss in a blog today. There are some finds in here for West Linn & Lake Oswegoso take a look! Bank owned homes are still the better opportunity over short sales if you are serious about wanting a home, if you are in no hurry, not affected if interest rates go up, and have alot of patience than go for the short sale! Our team is excellent with both! -Kristie
Yep, this is a typical story. It’s amazing! I am always explaining these types of stories to buyers but it’s so hard to believe that the process is this awful! There are “some” circumstances that will allow for a smoother process but in most cases your chances of pulling off a short sale are minimal. To make the short sale process worse, I frequently see listing agents that don’t know what they’re doing in a normal transaction let alone a short sale. IF YOU ARE SELLING SHORT, MAKE SURE YOUR LISTING AGENT IS A SEASONED SHORT SALE AGENT! Anyhow, take a read at the Oregonian’s “Short Sale Leaves Homebuyers, Sellers in Limbo” . -Kristie McD. Your Portland, Oregon Realtor!
If you are needing to sell your home “short” (a short sale) there is always the question as to whether you will have to pay taxes on the difference of what it sells for and what you owed… when the bank forgives the difference it is often referred to as a “phantom” income in that you never see it but it’s there when the bank forgives it so that the home can be sold.
If you are interested in seeing what bank owned properties are looking like out there, send me the area, zip code, school district, or whatever your area criteria is and I’ll shoot you off a report with pictures, addresses, etc…
I watch the Happy Valley & Clackamas market very carefully, with Happy Valley imersed in short sales I think it’s a good sampling of what’s to come for the other areas of Portland. Here’s what I see for 2009. (more…)
Both my husband and I are realtors specializing in the Happy Valley area… short sales and bank owned is a way of life on the grand “Hill of Views”. It’s no surprise the Happy Valley has established a reputation as Hill of McMansions, Short Sales and 1/2 built homes. They over developed, the economy turned, and now there are an abundance of great deals for those who are able to invest.
Good News? GREAT deals to be had. Anything around (more…)
