Reo/Bank Owned/Foreclosures in 2004 there were 270 that sold in the Wilamette Valley Multiple listing Service.
2005-231
2006-140
2007-145
2008-236
and as of January 2009 there were actively on the market 130.
That shows us that the trending market is not what we are hearing on the news. What we are hearing is the national report which is very dismal and not what we are seeing in the Willamette Valley.
A buyer needs to have great patience when purchasing one of these properties as the banks generally will do no repairs (sales are as-is) and sometimes it can take up to six months to get an answer regarding your offer. Unfortunately many times better offers come in during this period and the bank will take the best offer. Another problem with these homes is that the homeowner usually didn't keep the home in good condition and maintain problems as they arose and you could be purchasing a can of worms. Remember there are good deals out there regardless.
Call me if I can help you with your real estate needs.
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