Portland Short Sales

Portland Short Sales

Short Sales are not as big a part of the market this year as they were in the past. For example in February of 2010 there were 1838 closed short sales in the Portland Metro area. Compared to January of 2014 with only 264 closed short sales in the Portland Metro area. Obviously, the market is moving away from short sales and is stronger than ever in the inner NE, SE, NW and SW areas. 

I closed a cooperative short sale in the past with Bank of America (BOA), and I must admit that it was very interesting.  Instead of being in an adversarial relationship, we worked together from the very beginning. In this type of short sale, the bank pre-approved a sale price, so if an offer comes in at the pre-approved price, the response from the bank should come within 48 hours.  This is quite an improvement compared to the 4 to 6 month wait usually associated with short sales. This year I have closed one short sale that was relatively easy from start to finish, so it is possible even in our recovering market. 

This page is primarily dedicated to properties that are "FOR SALE", but if you are interested in how to stop foreclosure in Portland, please give me a call 503-810-2219.

Search Results

7 Listings found with the following criteria:

  • Property type and category like any: CONDO, DETACHD, ATTACHD
  • Foreclosure status: Short Sale

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Address:
2102 NW FARGO LOOP Camas, WA 98607
Price:
$401,000
Sqft:
2538
MLS#:
19328672
Built:
2005
Beds:
3
Baths:
3.1
County:
Clark
Taxe/yr:
$5,693.32
Schools:
Helen Baller / Camas
Lot Size:
3,000 to 4,999 SqFt
Acres:
0.07
Courtesy:
AgencyOne NW
Status:
Active

View Details
Amazing views from this desirable end unit townhome! Gourmet kitchen w/granite & top grade appliances, including convection oven. Beautiful wood floors, French paneling, crown molding, & custom built-ins. Vaulted master; jetted tub, double vanity & deck w/view! Lower level bonus is perfect workshop or 4th Bdrm w/ full bath. HOA INCLUDES Weekly Lawn & Yard Maint, Ext. Paint/Trim, Roof Cleanings, Repairs & Replacement, & Bldg Insurance.
Address:
13615 KNAUS RD Lake Oswego, OR 97034
Price:
$1,995,000
Sqft:
4294
MLS#:
20218972
Built:
2020
Beds:
4
Baths:
3.1
County:
Clackamas
Taxe/yr:
$9,258.40
Schools:
Forest Hills / Lake Oswego
Lot Size:
10,000 to 14,999 SqFt
Acres:
0.34
Courtesy:
Luxe Christie's International Real Estate
Status:
Active

View Details
Beautiful White House Collection Lake Oswego Traditional Home sitting on .3 Acres. Thoughtfully designed kitchen featuring Sub Zero & Wolf SS Appliances. Great Room with fireplace and box beam ceiling and views of the private backyard. Covered patio with fireplace and prewired for outdoor entertainment. Ensuite Master retreat features dual vanities, luxurious shower plus soaking tub. 3 additional bedrooms upstairs (2 ensuite) plus a huge bonus room. Subject to 3rd Party Approval.
Address:
3468 SE SAN MARINO AVE Hillsboro, OR 97123
Price:
$399,900
Sqft:
1763
MLS#:
20298264
Built:
2005
Beds:
3
Baths:
2.1
County:
Washington
Nhood/Bldg:
MAGNOLIA ESTATES
Taxe/yr:
$3,624.89
Schools:
Minter Bridge / Hillsboro
Lot Size:
3,000 to 4,999 SqFt
Acres:
0.08
Courtesy:
Windermere West LLC
Status:
Active

View Details
Fantastic home in desirable location, island eating bar in kitchen, gas fireplace, master suite with french doors and walk in closet, two other bedrooms share jack&jill bathroom, newer carpet on main, raised patio in backyard.
Address:
16024 SE KELLY ST Portland, OR 97236
Price:
$348,000
Sqft:
1389
MLS#:
20227859
Built:
1912
Beds:
3
Baths:
2.0
County:
Multnomah
Taxe/yr:
$3,662.63
Schools:
Powell Butte / Centennial
Lot Size:
7,000 to 9,999 SqFt
Acres:
0.19
Courtesy:
eXp Realty, LLC
Zone:
R7
Status:
Active

View Details
Remodeled ranch on over-sized lot in quiet Centennial neighborhood. This home was fully remodeled in 2013 and it shows! Big fenced back yard is ideal for urban gardening, and large outbuilding offers many uses. Outbuilding has power and A/C! Seller is open to offers, and rear exterior siding will be completed as part of sale. Located in quiet neighborhood. Needs just a little TLC to make it shine! [Home Energy Score = 3. HES Report at https://rpt.greenbuildingregistry.com/hes/OR10185873]
Address:
31373 SW CHIA LOOP Wilsonville, OR 97070
Videos:
Virtual Tour
Price:
$419,900
Sqft:
2600
MLS#:
20385876
Built:
1996
Beds:
5
Baths:
2.1
County:
Clackamas
Taxe/yr:
$7,618.96
Schools:
Boeckman Creek / Wilsonville
Lot Size:
10,000 to 14,999 SqFt
Acres:
0.26
Courtesy:
Realty One Group Prestige
Status:
Active

View Details
This wonderful home is located in a cul de sac, backing up to the Willamette River and a walking path. With some updating this home is perfect for your growing family with 5 bedrooms and a loft! Plenty of room to store your boat and RV on this large lot. Lots of potential with this home and No HOA's! Pricing reflects repairs/updates needed including new roof, fence, exterior painting & minor repairs. Seller to do no repairs. Short sale.
Address:
8712 N DECATUR ST 301 Portland, OR 97203
Price:
$252,000
Sqft:
934
MLS#:
19446074
Built:
2007
Beds:
2
Baths:
1.0
County:
Multnomah
Taxe/yr:
$4,163.56
Schools:
James John / Roosevelt
Courtesy:
Found! Realty, LLC
Zone:
R1
Status:
Active

View Details
Bank Approved Price! Open concept condo with Chefs kitchen, SS appliances, new bamboo floors, eat bar&large pantry. Living RM with closet, fireplace, new carpet and balcony. Close to shopping, food, & more in downtown & St.John's. Storage Unit, Street Parking. Garage Space Available for 12k Extra, deeded.
Address:
29900 S BEAVERCREEK RD Mulino, OR 97042
Price:
$459,000
Sqft:
1570
MLS#:
20051418
Built:
1970
Beds:
3
Baths:
1.0
County:
Clackamas
Taxe/yr:
$2,206.75
Schools:
Molalla / Molalla
Lot Size:
20,000 SqFt to .99 Acres
Acres:
0.76
Courtesy:
Iron Gate Realty Group
Status:
Active

View Details
2 acres on Beavercreek rd. Home is a major fixer.

7 Listings found with the following criteria:

  • Property type and category like any: CONDO, DETACHD, ATTACHD
  • Foreclosure status: Short Sale

Narrow your search »

Portland Short Sales In 2013?

The mortgage debt relief act was scheduled to end on December 31st 2012, but lawmakers managed to get an extension of this law passed as a part of the "Fiscal Cliff" legislation.    The way that the law works is as follows: When a property owner sells his or her home as a "Short Sale" the bank takes a loss.  That loss could be a taxable event for the homeowner because it results in a 1099 from the bank to the homeowner for the amount of the loss.  The Mortgage Debt Relief Act extends the amount of a time that a homeowner can be exempt from this "Phantom Gain" until the end of 2013,

Short sale inventory in Portland has been drying up.  See the graph below:

Portland Short Sales 2012

As this graph clearly illustrates, the number of short sale listings placed on the market have declined substantially over the period of Jan. 2012 to Dec. 2012.   This decline may in part be to the uncertainty about whether or not congress would approve an extension of the Mortgage Debt Relief Act.

Now that the uncertainty has been removed for 2013, I expect many sellers who are still "underwater" to list and sell their homes.  Inventory in the Portland Metro Area remains low, and short sales are a significant part of overall sales.  In 2012, approximately 831 short sales were recorded in Portland.  There were about 1139 bank owned (REO) sales and there were about 6919 traditional sales.  In other words, about 9% of the sales recorded in Portland last year were short sales... about 13% were bank owned sales, and about 78% were traditional sales.

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