Portland Bank Foreclosures Can Help to Grow Your Investment Egg

by Simon Lindsay on cities

The more information you have about Portland bank foreclosures and the area’s they are in, the more money you can save on your investment. One good piece of information is knowing the market value of the other homes in the same areas as the Portland foreclosure homes you are interested in. Knowing this information will tell you whether or not the Portland foreclosure listings you are looking at are really a bargain. Some foreclosed properties are not sold below their market value and it is impossible to truly know this without knowing the value of other properties in the area.

When looking at Portland bank foreclosures you want to keep the price in mind that you want to pay for a property. If you are planning on using the Portland bank foreclosures property that you are buying as a rental or to resell you may want to look for conservatively priced properties. When you put your property on the market to sell or rent, those looking at will most likely be looking for affordable housing. If you purchase a home that that is expensive, even after the foreclosure discount, than it might be harder to sell or even rent, because of the price you will be asking for it to make a profit.

Portland bank foreclosures are still a great investment, despite the economy’s decline. Portland’s economy has now slowed and is expected to recover. Unemployment in Portland is declining and the job market is currently stable. As the economy recovers, more and more people will be looking for bigger and better homes. Searching foreclosure homes for the perfect investment, for when the market rises, is a great idea. Current market listings show homes valued from $85,000.00 to over $450,000.00 on the market in Portland. Be sure to consider what exactly what type of home you want to invest in when searching through Portland bank foreclosures.

Another key item to take into consideration when purchasing Portland bank foreclosures is whether or not they are in areas that you would actually live in yourself. Besides being affordable buyers and renters typically look for good neighborhoods to live in. Neighborhoods that they can feel comfortable raising their families in. If the Portland bank foreclosures you are looking at are not homes that you would live in, you are not likely to be able to resell the home.

Taking all of this information into consideration when looking to purchase Portland bank foreclosures can help you possibly save more money than expected and make yourself an even bigger profit.