Foreclosures bring deals

Investors and homebuyers find bargains at auctions of foreclosed homes.

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An auction of foreclosed homes Sunday brought in a full house of bidders looking for good prices on real estate. Many homebuyers and investors are eager to take advantage of the bargain prices.

After years in which real estate values seemed like they could only get higher, the recession and subprime loans have turned that upside down. The median home sales price in the West has fallen more than 30 percent from last year, according to the National Association of Realtors, the highest drop in the country.

So it’s a sign of the times that the range of houses available Sunday to the highest bid included about 30 properties in the Portland area, the Oregon coast and southwest Washington. The Portland auction was part of a round of auctions of more than 150 foreclosed houses in Washington, Oregon and Idaho.

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