Jesse Knight

Keep in mind that the words "foreclosure" and "pre-foreclosure" are not synonomous with "deal". Just because someone hasn't paid their mortgage on time, that does not necessarily mean that the home will sell below market value. In fact, many pre-foreclosures are from borrowers with 100% financing, who have no equity in the home and therefore cannot sell the home for less than they bought it, without bank approval...hence the short sale.

Yes, you can get a good deal with a short sale if you're patient and willing to do the leg work and deal with the competition. Having cash would help your cause greatly.

The other way to do it would be to look at the current inventory and find a home that you feel is priced right or under market and make a deal that way. A good deal is NOT getting a home for less than the asking price, it's getting a home for less than market value. If you get 5% off an over-priced home, you still might be paying too much. If you pay full price on a well priced home, you're getting a good deal. Point is, think about the overall value, not just the price below asking.

GOOD LUCK! - Thu May 1 2008, 14:13

Hi Erick. The simple answer is yes, the market is still appreciating. It is also, though, completely true that inventory is way up. So what does this mean? It means that we're in an appreciating buyers' market. Prices have not come down and it's hard to say if they will. The stats say no, the news says yes. What we know, though, without conjecture, is that we have a huge amount of inventory and really low interest rates, meaning it's a really good time to be a buyer. Those are the facts. What happens next, hard to say. My gut feeling is that Portland will continue to churn along at this pace, much slower than in the past, but much better than most of the rest of the nation.

Lake Oswego is really beautiful, but a bit pricier. Portland has so many different areas that are wonderful. If you'd like to list a few of your wants and needs, then I can help you figure out some locations you might like.

You can always email me at jesse@therealtynetwork.net.

Good luck! - Thu May 1 2008, 14:06

Hi Richard. I lived in Lake Oswego until fairly recently and now live a couple miles away in West Linn. The area is incredible. Very beautiful. Top notch schools. Etc. Of course, the real estate prices are also a big higher than in some other parts of Portland Metro. The good news is that Clackamas county (which included Lake Oswego) has much lower taxes than Multnomah county, where Portland city is.

You can still find 4 bedroom homes for 400k in Lake Oswego, mostly in the Lake Grove portion. Unlike some other parts of Portland Metro, with Lake Oswego you won't need to be as specific on "neighborhood". All the neighborhoods are wonderful and all enjoy award winning schools. Lake Oswego is a smaller suburb, already. So you'll just want to focus on finding a home that meets your criteris. Alternately, I'd suggest West Linn. You'll have more options at that price, but you'll still have an incredibly beautiful location, award winning schools, etc.

If you'd like, I can set you up with a search tool that will allow you to search by neighborhood. I can set it up for you so you can see neighborhoods I think you'll like in Lake Oswego, West Linn and, possibly, some other ares. It's extremely easy to set up, free, and completely free of obligation. Just let me know and I'll set it up.

Email me at jesse@therealtynetwork.net or call me 971-219-4939.

Thanks, Jesse - Thu Apr 24 2008, 15:35

Hello. This is a difficult question to answer without knowing a bit more about A) what you're looking for (home size, number of bedrooms, house vs condo, wants/needs, etc.), B) your price point. Close is also a relative term, but you'd probably want to initiate your search with a broad search of SW Portland, NW Portland (Nob Hill, The Pearl). If you're looking at a condo, anywhere in downtown (SW Portland) would be very convenient. If you're looking for a house, you can travel south along Barbur Blvd from downtown while remaining technically in SW Portland. Again, price point is going to be a critical component here. The hills above OHSU are spectacular, but along with the spectacular views comes spectacular prices.

I'd love to be more specific. If you'd like you can email me at jesse@therealtynetwork.net with some of your parameters and I can help get a search started for you.

Good luck! - Tue Apr 1 2008, 14:31

Marnie, would you ming my asking why you want to "rent to own"? There certainly are good reasons to do so, but my personal feeling is that you should explore all your options first. In this market climate, you as the buyer have a lot of options. Financing can be had with very reasonable terms. There's a ton of inventory to choose from. Etc.

I'm sure you've decided rent to own is best for you, but many things have changed very recently. You might be in a better position to actually make a purchase than you were just a few short months ago. It's probably worth looking into, if nothing else. - Mon Mar 31 2008, 11:35