Portland Short Sale and Foreclosure Market

Buying Portland Short Sales and Foreclosures

If you’re looking to purchase a distressed Portland property, we highly recommend our top 1% buyer’s agent, Kami Price, who has obtained the short sales and foreclosure resource certification and has extensive experience helping buyers purchased bank owned and short sale properties.

Go here to see a current map of the Portland short sale homes for sale.

Go here to see a current map of the Portland foreclosure homes available for sale now.

Kami Price, Realtor
Short Sale and Foreclosure Certified
Represented Hundreds of Buyers
Licensed since 2004
503-773-0000

Need to short sell your home?

If you’re looking to avoid foreclosure and need help short selling your home, look no further. Stephen FitzMaurice is a top 1% seller’s agent in Portland, is a short sale certified agent, and does not charge the homeowner for his short sale services. He has a very high success rate and can explain the ups and downs of the short sale process. Click here for Stephen’s short sale services.

Stephen FitzMaurice, Realtor
Short Sale Certified Listing Agent
Cancel Anytime Policy
Licensed Since 2003
503-714-1111

Want to search for short sale and bank owned properties?

We’ve got you covered. Check out local short sale and foreclosure homes for sale at PortlandHomesforSale.com.

Portland, Oregon Foreclosure and Short Sale News

Below are articles written by our top agents on foreclosure and short sale happenings in the Portland metro area.

Foreclosures and Short Sales in Portland: Dropping Fast

July 30, 2013

Home shoppers intent on snagging a deal on a short sale or foreclosed property in the Portland area had better act fast. Recent reports indicate that the number of new listings coming on the market is shrinking, while low inventory and rising home prices indicate that the supply of distressed properties won’t last forever. Quick refresher: A short sale is a way for the home owner to avoid foreclosure by selling the home for less than the amount owed on the mortgage. An REO property is one that has already been foreclosed upon and is owned by a bank or lender. Here are three reasons that it won’t pay to wait when it comes to nailing a deal on a...

Be Aware of Real Estate Scams in Portland

July 17, 2013

You’re behind on your mortgage payments and the bank is threatening to foreclose. Then you receive an offer from someone claiming to be from a credit agency. They say they can sell your home, saving your credit and your peace of mind. Can you believe them? Of course not. Unfortunately, that call is not so easy to make when you’re the person with the huge mortgage and the tempting offer on your plate. This kind of enticement has sent homeowners in Portland and across the country into their worst fraud nightmares, costing them money, ruining their credit and deflating home values across neighborhoods. With underwater mortgages and financial troubles for homeowners in every income bracket, scam artists have come up...

Has Fannie Mae Solved the Short Sale Maze?

June 16, 2013

As many in Portland have already experienced, buying or selling a home through the short sale process can be a bit of a maze. Although short sales are an invaluable tool for underwater home owners, many offers fall through because one or more parties can’t agree to terms in the agreement. For home owners, the short sale process begins when the lender agrees to sell the home for less than the amount owed on the mortgage. Then the home seller can work with their short sale real estate agent to list the home and find a potential buyer. From there, sellers’ and buyers’ agents negotiate with the various lending institutions, lien holders and other parties. If the maze is negotiated...

Portland Short Sale Agent 2013

February 22, 2013

Your home is valued at less than what you owe on your mortgage. You’re experiencing financial hardship and need to downsize to a new home but can’t sell your underwater home until the market changes. You don’t want to ruin your credit or be in a situation where you have to wait for months to buy again. Sound familiar? With the help of a Portland real estate agent experienced in short sales, your headaches could be over. Short sales have helped thousands of underwater homeowners in Portland sell their home and get out of mortgage debt. What is a short sale? A short sale allows the homeowner to sell his or her home for less than is owed on the...

Mortgage Debt Relief Act Extended!

January 7, 2013

The Mortgage Debt Relief Act of 2007 has been extended by Congress until January 1st, 2014. Here at RealEstateAgentPDX.com, we’ve been following the developments with significant interest (two previous articles: What is the Short Sale Tax? and Short Sale Tax Exemption Could End Soon). This is excellent news for anyone who needs to short sale their Portland home, is in foreclosure now, or anyone who has been forgiven money by their lender on their home. The Mortgage Debt Relief Act of 2007 was set to expire January 1st, 2013. If it had not been extended it would have required Portland homeowners who had any of their home mortgage written off by a lender after January 1st, 2013 to pay taxes...

The Foreclosure Rate is Falling in Portland and Across the Country

October 31, 2012

Foreclosure rates in the majority of US cities have hit a 5-year low, according to several sources. This is good news for just about everyone, current homeowners, sellers, and buyers alike. Fewer reported foreclosures can indicate that the economy is rebounding. When the foreclosure rate is down, it can suggest that less people are losing their jobs, getting behind on their payments and being foreclosed on. This can have stabilizing effect on the market, as it helps to fuel optimism and speculation about what the future may hold and can encourage more people to make a move either toward buying or selling as their income becomes more reliable. Also, lower foreclosure rates in many cases across the country are indicative...

Short Sale Tax Exemption Could End Soon

October 17, 2012

Short Sale Tax Exemption / Mortgage Debt Relief Act of 2007 is set to expire on December 31st, 2012. If you’re wondering what I’m talking about and have had any portion of the mortgage on your principal residence forgiven by a lender or plan to in the coming year, you should read this article. For more information on Short Sale Tax, visit our article: “What is the Short Sale Tax?” For the last 5 years, the Mortgage Debt Relief Act of 2007 has allowed borrowers who fall into this category to fill out a form come tax time that keeps this forgiven loan amount from being taxed as income. Without this Act, these borrowers could have faced a potentially huge...

New Short Sale Assistance for Portland Military Homeowners

June 30, 2012

New Frannie Mae and Freddie Mac policies will make it easier for military homeowners to short sale their homes when they must move because of a change in station. The Federal Housing Finance Agency announced June 21 that Fannie Mae and Freddie Mac will no longer be permitted to pursue a deficiency judgment, promissory note or any cash contribution from members of the military who have negotiated a short sale for their home. In Portland, short sales have taken off this year, and with recent federal regulations that have sped up the short sale process, more and more people are choosing this foreclosure alternative. In 2011, short sales made up 11% of all Portland home sales, up 2% from the...

How to Write a Winning Portland Short Sale Offer

May 24, 2012

Nothing is more difficult to purchase these days than a short sale! The numbers on successful Portland short sale offers are terrible, many reports suggest 1 out of 5 Portland short sale offers actually ends up in a sale. While no short sale offer is guaranteed to succeed, there are a number of things a Portland buyer can do to increase their chances of success. 1. Ask your Portland real estate agent to find out how many banks are involved in the short sale. Often a seller will have a first and second mortgage with two different banks and sometimes even a third in the mix with a home line of credit. Simply put, the less banks involved the better...

When will Portland sell through its Shadow Inventory?

May 16, 2012

According to Standard and Poor’s first quarter 2012 data, it will take Portland and the country 3.8 years or about 46 months to sell through all of the distressed properties waiting to come out on the real estate market. S&P is counting all the shadow inventory, the number of homes with mortgage payments that are 90 days or more delinquent (many short sales) and those properties already in foreclosure. As for active foreclosures, Portland would sell through its inventory in about 19 months according to RealtyTrac, but this does not include properties currently behind in their mortgage payments. According to CoreLogic, 5.5% of Portland is behind on its mortgage payments. What does this mean for the Portland real estate market?...