I am puzzled about the transactions that have been reported regarding the ownership and subsequent sale of the three houses at 331 Calapooia St. S.W., and 533 and 525 4th Ave., S.W.
Several weeks ago, the 30-plus people living in those houses were evicted and the houses deemed uninhabitable. At that time, Signs of Victory was leasing the homes and managing the properties. According to the Democrat-Herald, the properties were in foreclosure and Signs of Victory was allowed to purchase the properties for $1.
Then, on Thursday, Dec. 14, there was an article in the D-H indicating that Signs of Victory was selling the properties to an buyer who was not expected to reopen as transitional housing. The assessed value was listed as around $237, 000.
That's quite a profit on a property purchased for $1. If I am missing something here, I wish that the D-H and Signs of Victory would clarify.
Albany (Dec. 17)