|Foreclosures and Short Sales in the Columbia Gorge
The Columbia Gorge on the border of Washington and Oregon is not exempt from the national problems folks have in keeping their homes. As sad as the outcome can be many new and first time buyers are benefiting greatly from lower than market value homes and homes in better neighborhoods then they could afford just a few short years ago.
While the reality of a foreclosure is not a pleasant one for the seller there are ways to either avoid foreclosure or utilize different options if you have come to a point where you just can't afford your mortgage any longer. The problem is that many homeowners don't want to see the looming picture before them and choose to ignore attempts to gracefully get out of their predicament. By the time the home is in foreclosure the homeowner is typically several months behind in mortgages and the lender is left no other choice but to foreclose on the property and sell to the highest bidder or buyer.
If you are in a position where you foresee on the horizon the possibility that you may not be able to keep up with your payments, you must call your lender immediately. There are other options such as a short sale in which the lender will allow you to stay in the home, stop making payments and they will sell it for you to cover your debt. This can leave you with a better credit report than a foreclosure and may save your dignity.
As for buyers, this is a great opportunity to invest in a lower priced home in a sometimes better neighborhood. The major issue is the repairs. Many times when a seller of a Columbia Gorge foreclosure has been living in the home, all hope may be gone and the idea of keeping up a home can not be high on the priority list. You must be prepared for an "as is" sale and prepared for some clean up of your own. If you are willing to put in the work, you can reap a harvest of great equity in the future.
At Northwest Realty Group we want to be sensitive to buyers and homeowners in a foreclosure situation. We handle every transaction with respect and dignity and never insult or low ball lenders or buyers but find appropriate terms to negotiate on.
If you are considering selling your home at a short sale or considering buying a Columbia Gorge foreclosure please contact us at: NWRG@gorge.net or call 509-493-1200 or use the form below and we will get in contact with you as soon as possible.