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.
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 his short sale services.
Portland Area Foreclosure and Short Sale News
Below are articles written by our top agents on foreclosure and short sale happenings in the Portland metro area.
I’ve been successfully selling foreclosures in the Portland Metro area for years now. This designation represents additional education and certification, rewarding experience and professionalism in the foreclosure marketplace. Foreclosures are often the best deals you can find in Portland, Oregon. Let me help you find one today! Stephen FitzMaurice, Realtor See all of my twelve designations here.
This is a very important question. Many people are afraid of doing a short sale because they are concerned the bank could come after them later for funds. If you don’t do a short sale correctly, a bank CAN come after you afterwards. If you do a short sale correctly, a bank CAN’T. I make sure the short sale process goes correctly. Listen to this important question posed to a real estate lawyer. Q. I have heard conflicting information regarding the banks’ ability to have a deficiency judgment against the seller of a property in a short sale and the banks’ recourse against that seller/borrower. Will you please clarify and address Oregon Law regarding recourse vs. non-recourse? A. There is...
I’ve been successfully selling short sales for years on both the buyer’s and seller’s side. This designation was awarded to me after I successfully took a number of classes, met professional experience requirements, and passed the necessary exams with flying colors. Let me help you get out of that underwater home today. I have all the tools and training necessary. Short Sale your Portland Home. See Recently Sold Short Sale Homes Stephen FitzMaurice, Realtor, CSSA. See all of my twelve designations here.
Many people are concerned (and rightly so) that they may be taxed for the forgiven amount on their short sale. For those of you who don’t know, this is a short sale. Basically, you owe say 200,000 and the home short sales for 150,000, so on your next tax statement you could be 1099’d for 50,000. This would be a problem for most people! The good news is that the government has provided relief from this potential tax problem. You can read all about it on the IRS website, they call it “The Mortgage Forgiveness Debt Relief Act and Debt Cancellation”. At the time of this post, it is still active, but check with the IRS to make sure it...
Today, it is all in the offer. A Portland short sale price means almost nothing. The bank will take what it takes and no one knows for sure what that will be, unless the price is pre-approved. On the selling side agents set ridiculously low short sale prices to bring in an offer. Once the first offer is in the bank starts acting, usually by ording a BPO, or broker’s price opinion. Then the bank will negotiate with the first offer at (usually) a much higher price. Finally, most banks present the selling agent with a pre-approved price (after they do the BPO) and then the home might actually sell. Buying a short sale home can be a long process, but it helps...
We have worked with many Realtors over the years and Stephen is by far the best we have ever met. He's very knowledgeable and gets the job done quickly. We had multiple offers after one day, not because we were under priced but because we had maximum exposure at the appropriate price! - Karen