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. 
I 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


Labels:
Location: Eugene, OR 97401, USA

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

HELOCs Are A Viable Funding For Investors! Team Thayer #realestate #realtor #housing #market #investor #news #oregom

The evolution of real estate investing has made financing easier to find than ever before. However, that doesn’t mean investors should rush into anything without minding their own due diligence. Simply finding a loan and receiving approval is by no means the only barrier separating an investor from acquiring an additional subject property; there are terms, rates, and a litany of other things to consider. What’s more, there are several types of loans made available to investors, each of which has their own unique distinctions. For the sake of today’s article, I wanted to discus whether or not  home equity lines of credit  (HELOCs) are a viable source of funding for investment properties. That said, it’s worth noting exactly what a  HELOC  is: For what it’s worth, HELOCs are not all that different from your standard credit card. However, whereas the most common credit cards have no collateral, HELOCs use your home as collateral. Accordingly, HELOCs coincide wi...
Read more