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Oregon Foreclosures on the rise, Opportunity for Investors.
Oregon Foreclosures on the rise, Opportunity for Investors.
Oregon has been a little slow in getting hit with the housing crisis but it is starting to catch up and people are starting to notice it more and more as it effects them or their neighborhoods a little more personally.
The third quarter showed that Multnomah,Clackamas, Washington and Clark(WA) counties having more than 2800 homeowners in default with their lenders.
Homes are becoming vacant, in disrepair, and in some cases striped down of Fixtures, Appliances,light bulbs.
Some home are even being vandalized by either the previous owners or outside trespassers.
Not only is the current market affecting values of homes, you know have the property prices going down from homes being in disrepair in otherwise very nice neighborhoods. The Domino effect in action.
For Investors this is a great opportunity.
Invest for the longer run not a flip. Negotiate with the lenders to get the property for a reasonable amount. You will need to be patient since the lenders are overloaded with foreclosures across the country, but if all goes throug, You should be very pleased. Buy your property for a lower amount now and Sell when the market gets better or just hold ... more

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