A look at the real estate market sector for distressed properties. Looking for Salem Oregon area foreclosures and short sales? Learn to see if current market conditions support those sales.
Home owners underwater? I’m not talking about people that have pools in their backyards either… Home owners in trouble is not a big secret, unless you live in the bat cave. Foreclosures, short sales, buy and bail are all consequences of home owners being underwater. CNNMoney.com had an interesting article a couple of weeks ago…
Many parts of the country have been grappling with difficult times. The Salem market has problems, and in case you didn’t hear, Pacific Lifestyle Homes declared bankruptcy. Salem has one subdivision started with this builder. It is the Chandler Estates subdivision out west. View Larger Map The subdivision is only partially finished, but the press…
As an agent I get a list of new NOD’s (Notice of Defaults) every week emailed to me. I have seen some familiar names on those lists. I see many listings on the MLS with “motivated seller”, “short sale” “lender approval required.” Times are tight for many. I have always encouraged my buyers to look…
I haven’t blogged about foreclosure rates here in Salem Metro so it seemed like it was about time. RealtyTrac is a real estate site dedicated to the foreclosure process, whether it is short sales or just notice of defaults. According to their July stats that were released on the 14th of August, Oregon ranks 21st…
In my post yesterday, I commented on the practice of purchasing a second home with the intention of walking away from the first one. While I do not condone that particular activity, I do understand people’s desperation. With a lot of the media focusing on work out activities, you would think that we are really…
Unless you have been living in the batcave, you know that foreclosures are nothing new. Foreclosure rates are up all over the county for a variety of reasons: true hardships, subprime borrowers, and those trying to Keep up with the Joneses. I was recently in the outside blogosphere and came across this interesting discussion on…
You have no doubt heard about short sales. They are all over the media. I’m sure you’ve never heard of a long sale though…A long sale is what real estate agents call short sales. Why you ask? Real estate agents get calls daily from people wanting to purchase a short sale. A short sale is…
How much do you charge to sell and buy a house?” asked the gravely voice on the other end of the phone. The caller was a retired woman in her 70’s and her husband in her 80’s. She and her husband purchased a house at the end of 2005 thinking this is where they would…
“Mortgage turbulence on its way” screams the front page of our local Statesman Journal newspaper. Subprime loans while common in other parts of the country, were much less common here in Oregon. After the first quarter of 2007, Salem had the lowest level of foreclosed properties according to the article. Sounds good… until you read…
