Skip to main content

Lane county Oregon investor alert! Foreclosure surge predicted

Oregon saw an increase of about 25 percent in foreclosures in January 2014 compared to January 2013.  In Lane County, 43 households received some sort of foreclosure notice last month, with about half of these being bank repossessions, according to RealtyTrac.
State legislation passed in August 2013 temporarily decreased foreclosures by limiting lenders ability to file foreclosures until they and the borrower went through a legislated mediation process. That mediation process was expected to take about 60 days, but in reality is taking six months or more. Many of those properties will still end up in foreclosure, once the mediation process is completed. This is purposed to bring  filings to increase to early 2013 levels.
The market went through a buyer surge as many  who had waited to purchase until they felt safe. This happened in mid Jan 2013 and peaked in mid Aug. After any market surge there will always be a decline.  This decline was  in-line with the seasonal drop in buyer activity that happens roughly mid September to mid January. 
Many distressed  property owners  where either holding out hope or just missed the opportunity to take advantage of the  rising buyer pool window. There where just over  250 notices of default filed in December 2013 in comparison with just under 50 in September 2013. 
see the buyer pool expanding  as my business has encountered a 67% increase in buyer calls from December 15 to march 15. I typically see anywhere from 30-40%. This is setting up a situation where there is typical appreciation with a spike in foreclosures. The foreclosure spike will affect values but this loss will be offset to some degree as investors sell the homes they have remodelled from the increase. 
This will be an excellent opportunity  for investors.   I have stated since 2010 we are in a buy & hold market.  I have been making money on rental investments since 2010 myself but  see an opportunity to  start flipping.
Justin Thayer licensed Real Estate Broker in Oregon
Cell: 541-543-7287
For current information and Real Estate Listings click the link below:
www.teamthayer.com


Popular posts from this blog

The top 5 mistakes people make selling their homes. Team Thayer Official Oregon Real Estate News.

5 home selling mistakes with Team Thayer 1. Trying to sell your home yourself In this DIY era, the urge to try to sell your home yourself to save money can beckon like the smell of oven-fresh cookies at an open house. Resist.  Working with a licensed agent  helps ensure you’re not leaving money on the table as a result of an off-target listing price or a mistake in the many steps that lead to a final sale. Sell your sofa yourself online. List your home with a professional. 2. Picking the wrong Realtor Not all agents are equal. Just because your college buddy dabbles in the industry doesn't mean he’s the best guy to sell your home. You want experience. You want to  work with an agent  who has a depth of knowledge. Invite your buddy to the house-warming party.  Find an agent  who can truly perform. Do you research.  Top Home Sales Mistakes 3. Pricing your home too high Sometimes it’s good to aim high. But when you’re setting a price for your home, it’s better to b

UFC 227 play-by-play and live results #UFC #MMA #UFC227

LOS ANGELES – MMAjunkie is on scene and reporting live from today’s UFC 227 event, and you can join us for live play-by-play and official results beginning at 6:30 p.m. ET (3:30 p.m. PT). The event takes place at Staples Center in Los Angeles. The main card airs on pay-per-view following preliminary-card bouts on FX and UFC Fight Pass. In the main event, bantamweight champion T.J. Dillashaw (15-3 MMA, 11-3 UFC) rematches former champ and ex-teammate Cody Garbrandt (11-1 MMA, 6-1 UFC) for the title. In the co-feature, flyweight champion Demetrious Johnson (27-2-1 MMA, 15-1-1 UFC) has a rematch with Olympic gold medalist and former title challenger Henry Cejudo (12-2 MMA, 6-2 UFC). Follow along with our round-by-round updates and official results beginning at approximately 6:30 p.m. ET for the UFC Fight Pass prelims, 8 p.m. ET for the prelims on FX, and 10 p.m. ET for the main card on pay-per-view. To discuss the show, be sure to check out our  UFC 227 discussion thread . You can als