Skip to main content

Foreclosure activity declines in Oregon

Foreclosure activity continued a sharp decline in May while the number of at-risk homes also fell.
Lenders foreclosed on 52,000 U.S. homes during the month, the real estate data firmCoreLogic Inc. reported. That's an increase from 50,000 in April, but down 27 percent from 71,000 foreclosures in the same month a year earlier.
The "shadow inventory" of homes foreclosed, in foreclosure or in danger of foreclosure, once a major concern that threatened to prolong the housing market's decline, has declined to 2 million properties. That's down 34 percent from its 2010 peak.
"The stock of seriously delinquent homes, which is the main driver of shadow inventory, is at the lowest level since December 2008," said CoreLogic chief economist Mark Fleming. "Over the last year it has decreased in 42 states by double-digit figures, resulting in rapid declines in shadow inventory for the first quarter of 2013."
In Oregon, lenders foreclosed on 4,500 homes in the 12 months ending in May. About 2.8 percent of all Oregon homes with a mortgage are in a stage of the foreclosure process, down 0.4 percentage points from a year earlier.

Popular posts from this blog

Team Thayer Real Estate House Flipping Traps! #flippinghouses #eugeneoregon #oregon #housing #market #realestate

If you’ve got several leads waiting to turn into potential deals, you can’t wait for one to suddenly come knocking at your door. Successful real estate house flippers have one trait in common: they place an emphasis on proper planning. Once you’ve secured a deal, you must decide what kind of rehab you will perform. Will you conduct a few simple cosmetic upgrades (like these  10 rehab projects you finish in one weekend )? Or, is the home nice enough to sell after  an easy prehab ? Are there structural damages that will require you to carry out more major renovations? Will you focus on implementing environmentally friendly renovations  – also known as “greenhabbing” – so that you  qualify for certain tax benefits ? Once you’ve determined your strategy, it is important to ask yourself these specific questions before diving into the construction action: What are the current market conditions in my area? What does my ideal buyer look like? Does my marketing cam...
Read more

4 Financing Tips For Your Rental Property! Team Thayer #realestate #realestateinvestor #investor #housing #market #rentals #mortgage #news #oregon

With the  spring real estate market  firing on all cylinders, it’s no wonder we are seeing investors come out in record numbers.  Real estate exit strategies  ranging from  wholesale deals  to full rehabs  have become incredibly attractive in today’s housing industry. However, one strategy in particular looks to be in a great place: buy and hold  rental property . Cash flow opportunities are through the roof, as rents are soaring in nearly every city from  San Diego  to  New York . Now may be one of the best times ever to acquire a rental property. However, those that have yet to do so should mind due diligence and consider what they are getting into before they make the jump. While there are a myriad of things potential landlords should consider before financing their first rental property, I highly recommend starting with the following four: Rental Property Consideration 1: The Numbers Prospective rental property buyers...
Read more

Are Cheap Houses A Good Deal? Team Thayer Real Estate News Eugene Oregon

Whether you are buying a car, real estate or even just a bottle of wine, people are always looking for the best possible deal. It may go without saying, but people love bargains. It may even be safe to say that people covet the real estate bargain most of all. A property listed below $50,000 may seem too good to be true. However, that is not always the case. Upon closer inspection, the property may need more work than meets the eye. While some properties are well worth their low sticker price, others may require so much work that their  value  isn’t worth the purchase. If you are on the fence as to whether or not an inexpensive property is right for you, here are some pointers to help with the decision: 1. Location:  Location  is one of the first things you need to look at when attempting to determine value. If there is no demand, a cheap property will do you no good. You should never make an opinion about a property without researching the area. Some seemingl...
Read more