Finding a Foreclosure in Portland
If you are an investor looking to buy foreclosure properties in Portland, you have your work cut out for you. Since Portland’s real estate industry has been on the rise, there are far fewer foreclosure homes on the market than there used to be. On the other hand there are many more opportunities in Portland, including Portland State University, than in some of the even hotter markets these days.
Doing a search online at any of the major real estate companies there were about 2500 properties listed that were in some stage of foreclosure. Of these, approximately 800 were already foreclosed upon and bank owned. Their prices ranged anywhere from $60,000 up to $700,000. You can narrow your search for a foreclosure further by only looking in a certain price range or housing development. There are still tons of foreclosures worth investing in to be found.
Compared to Albany, New York, which had only 500 houses under foreclosure, Portland offers you five times as many options. However, Denver, Colorado had about 6100 houses under foreclosure. Portland is pretty much in the middle of the road when it comes to the nation’s real estate market. While there are still quite a few options available right now, there won’t be as many in the very near future, especially if the market continues to rise as it has been.
The good news for investors is that Portland still has many options available, and if you get in on one now, the properties out there are still growing in value over time. The bad news is that if you don’t hurry you may not get the chance to join one of the fastest growing markets in the nation. There will always be a few foreclosures out there, but the more you wait, the lower your chances will be to find one that you want to purchase.
Investing in Oregon Real Estate Oregon real estate is often the investment of choice for large pension plans and those who are entrusted to fund the retirement and investment plans of others.
Oregon Public Employees, for example, invests heavily in Oregon real estate. Earlier this year the pension plan administrators committed a whopping $50 million to the first value-added fund of Guggenheim Structured Real Estate.
Oregon Public Employees hopes that this choice of Oregon real estate can be fully funded in July of 2007, by raising equity equal to $300 million.
These funds for the purchase of the prime Oregon real estate is expected to come primarily from various institutions in the United States.
By leveraging the money, the Oregon Public Employees real estate buying power will be approximately $1 billion. Oregon real estate targets will be mezzanine loans, performing debt, commercial securities backed by mortgages, and debt with high yield that is secured by real estate in Oregon and other parts of the U.S. Average annual monetary returns on the Oregon and other real estate buys are anticipated to be around 15 percent. Currently Oregon Public Employees has nearly seven percent, or about $2.5 billion invested in real estate. Its total fund is just under $44 billion.
While the consultant on this Oregon Public Employees real estate investment is an advisory firm called Pension Consulting Alliance, the ultimate decision makers are the executives of the Oregon State Treasury, who is also responsible for educating pension members. Accordingly one year training sessions on the Oregon Public Employees retirement plan. Here investments in Oregon real estate and all other financial issues are discussed and clarified.