Foreclosures in Portland Oregon Increasing?

by | Jul 9, 2013 | How to Guides, Market Reports

Every week I get a list that compiles all the public information on homes going into foreclosure. Each page has info on 4 properties and and usually [in the last year since the recovery] there are about 50-70 homes in Multnomah County that have notices of foreclosure. Imagine my surprise today when I opened the list and it was 32 pages long! That means there were 128 properties given notice of foreclosure in Portland Oregon and Multnomah County.

This is heartbreaking to me because everyday the market goes back up there are fewer and fewer people under water in Portland. The problem is that if you are facing a hardship, and we all just lived through a horrible crash and recession, you might not think to ask a Realtor what your home is worth in today’s recovering market. The shift has been shocking from hopeless free fall to the bottom to rapid price increases all in the last 18 months.

I have one story in particular worth sharing. I had a seller that a year ago I was quoting an expected price in the mid $200’s for their house. By Spring it was looking like $275k. When it listed in Summer we started at $300k and it had a bidding war sending it even higher. This person went from breaking even to clearing a great profit. This is definitely not the only story like this out there right now!

I hope that you share this. People you know might be struggling and afraid to ask for help. I can’t tell you how good it feels after years of a tough market to be able to deliver good news… and to some people, life changing good news.

I think the spike in foreclosures this week is due to the banks catching up on the new practice of judicial foreclosure – a change from Trustee sales that were common a year ago. And when I look at the numbers I see many people who likely have equity in their homes and might not even know it!


Learning Center:

Advice, Opinions, and Market Reports about the Oregon and Washington Real Estate Market

Portland Luxury Condo Market Analysis

  2020 was a rough year with the pandemic, social unrest, and the closure of many restaurants and retail businesses. Nowhere was the impact more acute than in downtown urban areas across the country. Read the full  luxury condo report here to view the pre and post...

How To Buy & Sell at the Same Time

  How to buy a home when you already own a home: Have you been dreaming of your next home, but you’re not sure what to do with your current home? You’ve heard that it’s a sellers market, but what does that mean if you also need to buy?  There are three options to...

How To Retire for Real Estate Agents

Our CEO and Best Selling Author of The Golden Handoff, Nick Krautter, talks with Justin Stoddart on the Think Bigger Real Estate Show to review his revolutionary model that helps real estate agents grow their business while simultaneously helping other agents rapidly...

Start Your Search Today

For a Confidential Meeting contact:

Nick Krautter, CCIM

Principal Broker in Oregon/President

Managing Broker in Washington