Portland Condos. Below is a link to an article from DSNews with an update in regards to short sales. We are still seeing many of our Portland condos being sold as short sales, many with multiple back up offers as it takes so long to get the Portland condo seller’s current lien holder (bank) to accept less than what the principal loan amount is owed. The last paragraph in this article is very hopeful “As a result, DBRS expects short sales to be one of the key loss mitigation techniques used in 2013 with more servicers delegating or automating their acceptance and counter offer process in order to be more responsive to short sale bids on properties”. The time frame it takes for the seller’s lender to respond to the offers whether it is a Portland condo, loft, townhouse or home has been one of the biggest issues with short sales so hopefully we will start seeing a shorter turnaround time in accepting the offered price. Full the full article. Ratings Agency Forecasts a Stronger Year for Short Sales in 2013.Becky Scharf
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