Archive for General
Oregon Foreclosures Soar
This article was published this past week in the Portland Business Journal and gives some statistics about foreclosures in Oregon.
“Oregon foreclosure rate soars 142% - The year ends on a sour note for the beleaguered residential market as two leading indicators show foreclosure rates soaring while home prices sink in Oregon and elsewhere. The bad [...]
Sold REO in West Linn
The NW REO Team and WestOne Properties just completed a successful sale of an REO property for West Coast Bank. The house was under construction and had several complications to get the sale completed. We were thankful for the opportunity to assist our buyer and the bank to complete a successful sale.
NW REO Team works [...]
Oregon Foreclosure Levels Grow
The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data released Thursday. Nationwide, nearly 766,000 homes received at least one foreclosure-related notice from July through September, up 71 percent from a year earlier, [...]
Pricing an REO
As bank owned properties (REOs) continue to increase in the real estate market, selling them becomes more difficult and costly for the bank. The most important factor for the bank to consider is how long they want to hold that property. The length of time a bank is willing to hold a property should be directly related [...]
Oregon gets HUD Aid for Foreclosures
“The US Dept of Housing and Urban Development will send nearly $20 million to Oregon so the state and local governments can buy and rebuild foreclosed properties. The goal is to prevent blight from spreading from foreclosed properties.
The money is part of a $3.9 billion nationwide program and is part of the Housing and Economic [...]
A Little Good News
It has been a little while since I have seen something in the media that was positive about the local housing market. On Saturday, The Oregonian ran an article about Legend Homes that explained how they have been able to work out a deal with many of their lenders to allow them to keep operating, and [...]
Introducing the NW REO Team
We at WestOne Properties are thrilled to announce our newest division, NW REO Team. After concentrating our efforts on short sales in the Portland, OR area for the past two years, we are adding REOs to the pool of listings we offer to our investors and home buyers.
Unfortunately, the amount of [...]
