Is the Distressed Property Era Over in Portland?

Is the distressed property era over? In Portland, the answer appears to be, “yes” but keep reading as to why that’s not entirely true.  “Distressed Properties” are those that are either short sales or bank owned (also know… Read More

Buying a Bank Owned Property Part 1

In its simplest form purchasing a home can be broken into three parts: 1) find house; 2) buy house; 3) get keys to house. Generalizations pretty much end there. The three legs of the current real estate market… Read More

Helping Responsible Homeowners Act Could Stimulate Economy

The Helping Responsible Homeowners Act could allow for people to refinance Fannie Mae and Fredie Mac loans regardless of whether they have positive or negative equity. If you are current on payments and your property is worth less… Read More

New HAFA Rules Effective Today to Speed Short Sales

Last week on our Facebook Page we ran a contest asking, “what percentage of listings in Portland are short sales?”  The answer is 17.% (and was worth a $15 Starbucks card).  New rules go into effect today that… Read More

It’s Not All Short Sales and Bank Owned

Short sales, foreclosures and bank owned properties may be the buzz words of today’s real estate market but an RMLS blog post shows us that short sales and bank owned properties make up less than 20% of the… Read More

Short Sales and the Home Buyer Tax Credit

June 30th, 2010 is 93 days away (8,035,200 seconds for fans of Rent).  Lack of indicators, to the contrary, make us believe that you have until then to close any contract that allows you to take advantage of… Read More

Short Sales and First Time Buyers

Wikipedia describes a short sale as: A short sale occurs when the proceeds of a real estate sale fall short of the balance owed on the property.[1] In a short sale, the bank or mortgage lender agrees to… Read More

Short Sales in Oregon

Our sales meeting topic yesterday was short sales. The meeting started something like this, “What is a short sale?” “It means that someone is taking it in the shorts.” Actually a very accurate response but there is more… Read More