Web site tracks 'desperate' area home sellers

Web site tracks 'desperate' area home sellers

Tools

By Brian Barker KATU News

PORTLAND, Ore. - It's no secret it is a tough time to sell a house.
   
The Portland metro area's housing market is down by 6 percent or more in some places over the past year.

Some sellers can wait and some can't.

Now a Web site is tracking what it calls "desperate home sellers."

The site contains a database of vacant homes that have been on the market for more than 100 days in the Portland area and/or where sellers have cut their asking price by at least 7 percent.

"We have about 175 properties in the database right now," said Tom Heinicke of Meadows Group Realty recently.

Condos in particular have taken a big hit in the area.

For example, in the John Ross building in the South Waterfront District, one unit there has dropped by $120,000 in the past seven months. There are four units there that meet Heinicke's definition of "desperate."

Across town in the Pearl District, three places have been on the market for a year and a half and have dropped their prices by $120,000.

It's not just condos taking a hit. A mansion in southeast Portland was on the market for $1.7 million but is about to sell for $900,000.

Across the metro area, prices are down in most neighborhoods – with a few exceptions such as in north and northeast Portland.

CHECK OUT THE WEB SITE

Weather & Traffic

Icon
Current Temp 49.0 °F
Overcast
More Weather
New:

Upload directly from your mobile device.

Learn how

YouNews

This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.

Viewer Poll

Have you been able to beat a traffic ticket in court?
Read more about it here

  • Yes, I was found "Not Guilty!"
  • Yes, the fine was reduced.
  • No, but I've tried.
  • No need; I'd probably lose anyhow....
  • No need; no tickets for me!
  • Other