An Open Letter: Oregon Foreclosure Avoidance Program

Oregon Foreclosures, Short Sales
I've heard from clients over the years that they had gone to the Oregon Foreclosure Avoidance Program in search of more information about short sales and what options home owners in Portland, Oregon have available. As part of the mediation process, State of Oregon mediators often refer home owners to real estate agents, some of whom may have little short sale experience. This last week, a client called in and set up a short sale listing appointment with myself after being referred to Realtors in Portland who had only done a very small handful of short sales and to me this seemed unfair to the home owner. With this in mind, I have written the following open letter to the Oregon Department of Justice asking to be one of their…
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Fall Housing Report

Real Estate
Numbers for pending and sold homes throughout the Portland metro area are cooling off with the return of the school year and the end of the (traditionally busy) summer real estate buying season. The seasonal fluctuation of the local Oregon housing market is normal and may be influenced by such factors as family's school year, increased vacation time in the summer in addition to buyers being more apt to shop for homes during summer's longer and warmer days/evenings. The biggest story in real estate for this season seems to be consistently low inventory of available homes for sale in Portland, Oregon. The year-on-year graph to the left clearly shows 2015 in red with September, 2015 showing only 5,657 active listings compared to 7,438 available properties for the same month a…
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Short Sales in 2015

Real Estate, Short Sales
How Short Sales Have Changed in the Year 2015 Increases in home values in the Portland area, defaulted properties going to foreclosure and home owners completing short sales are all contributing to a reduced amount of short sale inventory. However, high demand from well-qualified home buyers and a pronounced dearth of available homes for sale in Portland mean that short sales remain a viable option for sellers with negative equity as well as cost-conscious consumers looking for a good deal on real estate in Portland, Oregon and surrounding communities. Further slowing down housing inventory turnover are home owners who are upside down that may be holding out on selling in the hope that prices will increase further and allow them to sell at a higher price that would leave them…
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Short Sale Specialist Gresham, Oregon Report Fall 2014

Short Sales
If you need a short sale specialist in Gresham, Oregon give us a call. Whether you need help with buying or selling we'll make things happen for you. We work with all major banks and we negotiate directly with the bank on your behalf. It's important to note that as negotiators and Realtors we work for you and have a legal duty to serve your best interests. While we work with the bank to make the short sale win-win so the bank will say yes, our fiduciary obligation is to deal honestly with our clients while acting in good faith to you. Get Help With Your Gresham Short Sale Now: 503-473-8001 We Never Charge Extra Fees For Short Sale Services We're brokers with Oregon Realty Company, the largest independent brokerage…
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Wall Street Speculation Driving Up Home Prices

Portland Real Estate Market
Investors Buying Short Sales & Foreclosures In Bulk, Profiting Big This article is opinion based on available data from a variety of news and financial sources. This article is not legal, tax or financial advice. The author is a real estate broker licensed in the State of Oregon, and an short sale specialist in Portland. [caption id="attachment_6950" align="alignleft" width="300"] Wall Street Back To Gambling On Real Estate[/caption] While recently reduced numbers of short sale transactions and foreclosures have pushed real estate investment money back into flipping and renovating, in the height of the recession many major financial interests were buying short sale and foreclosure homes in bulk and trading them as a commodity. Now, these investment companies appear to be slowing their rate of purchase as the supply of distressed…
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What is a BPO? Short Sale Specialist Explains BPO Do’s & Don’ts

Short Sales
People involved in short sales and even loan officers and Realtors who haven't dealt with them may ask themselves, what does BPO stand for? The quick answer is Broker's Price Opinion. The bank and its investors who are considering taking a loss on a short sale won't take the sellers' or the Realtor's word on the best price for the property. As such, the BPO is something like the bank getting a second opinion from another (supposedly independent) Realtor. The bank will then use this value as a factor when considering the short sale application. It's important to make sure that the bank does an "Interior BPO" because sometimes the bank will use an automated, computer-generated value that is often much higher than the real-world price. At times, it seems…
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Client Gets Good News

Portland Testimonials
Another Client Testimonial Upon completing a short sale transaction I ask the sellers to briefly write about their experience with us. We take pride in our work and our clients are our best reference. If you are interested in eliminating mortgage debt please feel free to contact me directly at: 503-473-8001 In The Client's Own Words. Bruce, The completion of our short sale is very good news. It is never a pleasant experience when dealing with financial institutions and all the paper work that it entails. Not to mention the road to a short sale. But with your help and guidance we were able to navigate the road in an orderly manner. These are difficult times for folks with the home foreclosures and short sales. You and your team helped…
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