Skip to main content

Completed Foreclosures Still Elevated In Oregon! Team Thayer #realestate #foreclosure #housing #market #news #oregon

foreclosure-sign-two Team Thayer Foreclosures Eugene Oregon While the number of completed foreclosures during the month of February 2016 was down by 10 percent year-over-year, February’s total is still way above the pre-crisis monthly average, according to CoreLogic’s February 2016 National Foreclosure Report released Tuesday.
Approximately 34,000 foreclosures were completed during February, which is down from February 2015’s total of 38,000 but still elevated compared to the monthly average of 2000 to 2006 of 21,000. February 2016’s total was down by 71.3 percent from the monthly peak of 117,776 reached in September 2010.
Completed foreclosures represent the total number of homes lost to foreclosure. Since the crisis began in September 2008, approximately 6.2 million homes have been lost to foreclosure. Since homeownership rates peaked in in the second quarter of 2004, the number of homes lost to foreclosure totals 8.2 million.
4-12 CoreLogic Foreclosure Graph Team Thayer Foreclosures Eugene Oregon Despite February’s total of completed foreclosures remaining elevated above pre-crisis levels, other default-related metrics were positive. Foreclosure inventory for February 2016 totaled about 434,000, or approximately 1.1 percent of homes with a mortgage nationwide—the lowest rate since November 2007. February 2016’s foreclosure inventory rate of 1.5 percent represented a year-over-year decline of about 32 percent from February 2015’s total of 1.1 percent (571,000 homes).
The serious delinquency rate, which is the percentage of residential mortgages that are 90 days or more overdue or in foreclosure or REO) dropped by nearly 20 percent year-over-year in February 2016 down to 1.3 million mortgages, which calculates to 3.2 percent of total mortgages nationwide. It is the lowest level for the serious delinquency rate since November 2007.
“Job creation averaged 207,000 during the first two months of 2016, and incomes grew over the past year," said Dr. Frank Nothaft, chief economist for CoreLogic. “More income and improved household finances have helped bring serious delinquency rates down in nearly every state. However, serious delinquency rates increased in North Dakota and West Virginia, two states affected by price declines for the energy fuel each produces.”


Team Thayer www.teamthayer.com
JUSTIN LEE THAYER
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