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Jennifer Bukaty
"Work with a Local, Friendly Portland Professional"
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Specializing in Urban Portland Neighborhoods.
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Local. Friendly. Professional. Specializing in Urban Portland neighborhoods, where my Real Estate expertise includes an intelligent approach to negotiation,
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Jennifer Bukaty answered:
Hi Ken,
I'd like to suggest to you that foreclosures are not a terrific deal in Portland right now. Realize that we have a strong market - among the top three in the nation - and those who have to sell due to default have tried to sell first but could not. Why? Most likely because they were into the house for more than it was worth. You can bet the bank is going to want their money when they place it up for sale too. There are rarely deals in this arena. Portland DOES NOT have a wholesale market.
Add to that the many vultures out there calling themselves businesses who try to buy up these properties as soon as the notice is filed. It's just crazy :-)
I'd like to suggest to you that foreclosures are not a terrific deal in Portland right now. Realize that we have a strong market - among the top three in the nation - and those who have to sell due to default have tried to sell first but could not. Why? Most likely because they were into the house for more than it was worth. You can bet the bank is going to want their money when they place it up for sale too. There are rarely deals in this arena. Portland DOES NOT have a wholesale market.
Add to that the many vultures out there calling themselves businesses who try to buy up these properties as soon as the notice is filed. It's just crazy :-)
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