Foreclosure Activity Skyrockets In Oregon

Dated: May 15 2014

Views: 539

Oregon mortgage lenders nearly doubled the pace of repossessions in April, according to new foreclosure data released Thursday by RealtyTrac.

The Irvine, California-based real estate data service reports that although the overall foreclosure rate decreased one percent in April across the nation, repossessions increased in 26 states in April compared to March.Oregon had the fourth highest increase, 91 percent, after Iowa (237 percent), New York (142 percent) and Delaware (94 percent).

Oregon led the nation in other aspects as well, a sign that the foreclosure crisis may be tailing off elsewhere but is not finished here.
Oregon experienced a 229 percent increase in the rate of foreclosed homes scheduled for auction.

Seen in one light, the move to foreclose could bring relief to Portland’s tight housing market. This week, the Regional Multiple Listing Service reported the city’s inventory of for sale homes dropped to 2.8 months, the lowest in recent years.

RealtyTrac said the repossessed homes will find their way onto the market. Read More Here...
cb
Blog author image

Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

Latest Blog Posts

Mortgage Underwriting Challenges In The Pandemic

In December, AmTrust Title Insurance Company announced the hiring of seasoned underwriter Mary Shelley as its midwest region agency underwriter. We took the opportunity to talk to Shelley, who has

Read More

How Bidens Stimulus Plan Impacts Housing

President-elect Joe Biden’s $1.9 trillion stimulus, unveiled Thursday as the American Rescue Plan, includes a call for extending the national moratorium on evictions and foreclosures until Sept.,

Read More

Will We Have A Buyers Housing Market In 2021

If you’re looking to buy a home, you’ll stand the best chance in a buyer’s housing market, where listings are flush, demand is low and buyers have the upper hand — not to mention most of the

Read More

What To Budget For Closing Costs When Buying A House

Are you considering purchasing a home for the first time? Then you’re probably already saving money for your down payment. But what about all the other costs needed to complete the transaction?

Read More