Cheap Portland Foreclosed Homes for Sale

Buy Foreclosure Houses, Apartments & Condos in Portland

ForeclosureDeals offers a solid database of Portland bank owned foreclosure homes and Portland government foreclosed homes for sale from federal agencies such as: HUD, VA, FHA, Freddie Mac, Fannie Mae, USDA. These Portland repossessed homes can be found in a number of ways, such as pre foreclosures, short sales, foreclosure auctions, flipping homes, bankruptcies and home foreclosures for sale in Portland, OR. Our up-to-date real estate foreclosure listings in Portland offers cheap distressed properties for buying & investing, in a great variety of properties like commercial & residential, multi & single family homes, lands, condos and apartment foreclosures in Portland area.

About Foreclosed Homes in Portland, OR

If you are looking for homes for sale, then you might want to consider the city of Portland, OR since it has a lot off attractions for the entire family. For instance, there are ski resorts and oceans nearby. The Japanese Gardens and the 3D Center for Art and Photography are a couple of places that put this city on the map. You will find a wide variety of real estate and foreclosures on the market to meet your needs. If you are thinking of investing in a business property, you will also find plenty of cheap office spaces. Take advantage of these opportunities and start searching for foreclosed homes for sale in Portland, OR now!

Portland, Oregon - Real Estate in the City of Roses

Real estate opportunities abound for real estate investors in America who are looking for prime opportunities based off great locations in solid regional economies. This usually means taking a look at metropolitan areas for the best neighborhoods with central locations, low foreclosure rates, and a wealth of nearby amenities, attractions, and employment opportunities.

This is one reason why investors look to Portland, Oregon - the largest city in Oregon, the second-largest city in the Pacific Northwest (after Seattle, Washington), and the 23^rd most populous metropolitan area in the U.S.

Portland is known for being one of the most environmentally-friendly cities in the world, and features a very rich local cultural heritage. Most of the economy in the Portland area is based off transportation, shipping, logistics, manufacturing, and technology. Additionally, the city is home to two professional sports teams and over 12 colleges and universities. Culturally, Portland features a thriving brewing industry and cuisine scene. Finally, Portland is located across the Columbia River from another growing city, Vancouver, Washington.

Here is more information for investors interested in real estate opportunities in Portland.

Median Home Prices

Median home prices in Portland usually average around $240,000, with a value per square foot cost of $176 on average (ranging from a low of $108 in Glenfair to a high of $297 in the Pearl District). This is typically higher than average for a city of Portland's size. Additionally, in terms of foreclosure, Portland averages 11.33 home foreclosures per 1,000 homes. The area with the lowest foreclosure rate is Woodstock; the area with the highest rate is East Columbia, with 61.73 foreclosures per 1,000 properties.

Approximately 24% of homes in Portland are sold for a loss on average.

Best Places to Live

Some of the best places to live in Portland are determined by location and the presence of foreclosures. Investors prefer these areas because they are centrally located, giving homeowners access to places of employment, entertainment, education, transportation, and other amenities and services. They also are relatively stable when it comes to foreclosures.

Based on these metrics, some of the best places to live and invest in Portland include Arbor Lodge, Buckman, Hosford-Abernethy, Multnomah, Overlook, Roseway, Sellwood/Moreland, University Park, and Woodstock.

Oregon's Foreclosure Process

Foreclosure laws differ among states; therefore it is essential that buyers and homeowners understand the foreclosure laws of their specific state. Oregon utilizes both judicial and non-judicial foreclosure processes with the average timeline being 180 days. Mortgages with power of sale clauses are handled through the non-judicial process, since lenders have the power to initiate foreclosure without the court's approval. If a lender decides to pursue a foreclosure, the homeowner must be informed of the foreclosure at least 120 days prior to the set foreclosure date. During these 120 days, the homeowner has the opportunity to pay the default and other associated costs in order to maintain ownership of the home, thereby ending the foreclosure process. Non-judicial foreclosures are more common in Oregon than judicial ones.