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Portland foreclosure auction Sunday features gems, fixers

11:25 AM PDT on Thursday, June 25, 2009

By Kgw.com

Foreclosure auction company REDC is coming to Portland Sunday, listing 32 Oregon homes that will be up for bid in an event at the Sheraton Portland Airport Hotel. 

Registration starts at 8 a.m. and the auction begins at 9:30 a.m. Details are at the company’s website, Auction.com.

According to RealtyTrac Inc., for the third month in a row in May, there were 300,000 plus foreclosure filings nationwide. April had a record high of 342,000. In Multnomah, Washington and Clackamas counties there are 11, 522 homes Tuesday with auction dates in the coming months. Here is a complete county-by-county breakdown in Oregon. 

"We havent seen the end of this foreclosure crisis, not by a long shot," says Auction.com CEO Jeff Frieden

Auction.com is also holding an event Saturday in Seattle at the Red Lion, Emerald Ballroom, 1415 Fifth Ave. Hours are the same as the Portland event. Over 150 homes in Oregon, Washington and Idaho  will be on the auction block, company officials said.

One Portland-area property includes an outer Southeast Portland 4,300 square foot triplex originally listed fat $651,000 with a starting bid of $169,000. A Depoe Bay home with three bedrooms and baths listed at $940,000 has a starting bid of $149,000.

Potential buyers need to bring W-2 forms for the last two years, a $2,500 cashier's check for the first purchase and $5,000 for each thereafter and funds to clear five percent of an earnest money deposit on the first purchase and 15 percent for each thereafter.

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