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Government Camp Foreclosures

Monday, May 9, 2011
by Liz Warren

One of the biggest selling properties in Government Camp over the past two years have been the Collins Lake Condo Units. Recent sales have dropped to levels 10% to 20% above their original offering prices from 2004! Most of those sales were foreclosures.

Here are two  foreclosures on the market today at Collins Lake:

Government Camp foreclosures

Today's foreclosures typically represent a 30-40% discount off today's current market value. If you are a skier and are looking for an affordable place to park your head during ski season, this might be the ticket. Government Camp's location at the base of Mt. Hood makes for quick access to Ski Bowl, Timberline and Mt. Hood Meadows with a short drive on weekends!

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Mt. Hood Foreclosures

Friday, March 25, 2011
by Liz Warren

foreclosures and short sales make up around 34% of Oregon's real estate market sales. Here are the current foreclosures available in Government Camp, Welches, Rhododendron and Brightwood.

Mt. Hood Foreclosures in March 2011

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Foreclosures on Mt. Hood

Thursday, October 23, 2008
by Liz Warren

Many buyers are searching for foreclosures in Government Camp, Welches, Rhododendron and Brightwood. The Mt. Hood area has relatively few foreclosures compared to other areas near the Portland metro area and Portland itself. The majority of homes that have shown up as foreclosures have been in the Timberline Rim subdivision.

Most of these foreclosed homes in Timberline Rim are under $300,000 and the majority fall in the low $200,000 range or less. When compared to subdivisions closer in such as in Sandy and the Happy Valley area, we have really not had the hard hits that many of these newer subdivisions have had. Lack of available land to develop with"new subdivisions" in the past couple of years has caused an escape from this problem.

foreclosures do bring  values down. Banks price these homes to go out the door. These foreclosure sales will be used as comparable for conventional loans. New lending rules require home sales in the past two to three months to be used as the comparables whether foreclosures or not.  They will help establish values for bank loans to buyers.This s the bad news.

The good news is that once the inventory of foreclosed homes are gone, existing home inventory gets adjusted to "market" and gets sold, values will stabilize and eventually we will be back to a more equal market for buyers and sellers.

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Displaying blog entries 1-3 of 3

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