I just attended the "How to" buy a condo at the upcoming auction sale of the John Ross Condominiums at the South Waterfront in Portland, Oregon. Sadly our condo market here in Portland, once one of the most robust on the west coast, is still trying to reduce some of the bulk due to an over indulgence of condo building.
Viewing the lovely model homes, it is easy to see he attraction to the simplicity of condo living. Someday the South Waterfront will offer all of the amenities that make the Pearl what it is today, meanwhile auctions like this create an incredible opportunity to get back into the market on the ground floor. Units are starting at just $110,000 and most are under $300,000.
Even better the John Ross just received valuable FHA Approval for their Condo complex. This means a first time buyer with as little as 3.5% down can likely get into a condo here. If you obtain your loan through their preferred lenders Bank of America or MetLife Home Loans you will receive an additional $3000 credit towards closing costs. Add that all up and throw in an $8000 First Time Home Buyers Tax Credit and you've hit a home run.
It is an attractive package, but one you need to be completing Due Diligence on NOW. All attendees must be registered by April 8, 2010 - that is two days from now! You would be remiss to not meet with a qualified broker to represent you during the auction process. There is no additional cost to you and having the skills of an experienced Realtor will go a long way to protecting your best interests.
Opportunity knocks, but you need to be ready to answer the door. This is big. . . so get your game face on and team in place for Auction Day. Linda Heinrichs is ready to help you every step of the way to open doors at the John Ross Auction next weekend. Call now
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