Living in Portland

Unlike the rest of the country, the number of foreclosed homes in Oregon is less than one half of one percent.  That’s 0.5% which is among the lowest in the Nation.  Foreclosed properties are listed on the MLS by banks and represented by Realtors just like any other property.  The condition varies widely depending on the attitude of the previous owner.  I have seen homes in good condition to those that were purposely trashed by their previous owners.  These properties can be a great investment at the right price but a good inspection is more important than ever.

First time home buyers will small down payments should also be aware that lenders have a minimum requirement for condition in order to obtain a loan.  If the property is too much of a fixer, you won’t be able to finance it.