Welcome to Part Five of my 2015 Portland Market Report! Here you will learn a little more about distressed properties, and what they really mean to you as an investor.
Although the distressed property market continues to decline from its 2008-2012 highs, short sales or foreclosures can still be a great investment. Be aware however that some of the norms you have in seeing and buying properties, may not be available with distressed homes. Be prepared for longer delays with regard to the lending process, higher costs during the inspection process, and most times a lack of important information relating to the history of the property itself. Regardless, when done right, distressed properties can be a great fit for your short and long term real estate investment goals.
Should I buy a short sale? How does financing work with a foreclosure? Will the bank finance money to remodel as well? How long does it take for a short sale to close? What are the worst case scenarios with foreclosures? Are they ever “move in ready”? The answers to all of these questions and more can be found in this years edition of the Market Report!
If you are planning on buying, selling, or investing give me a call or email anytime. My team and I can personally help you in the Portland area and also help you find the right agent in your city. (503) 901-8100 or firstname.lastname@example.org.