Oregon Foreclosure Levels Grow
The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data released Thursday. Nationwide, nearly 766,000 homes received at least one foreclosure-related notice from July through September, up 71 percent from a year earlier, said foreclosure listing service RealtyTrac Inc.
By the end of the year, RealtyTrac expects more than a million bank-owned properties to have piled up on the market, representing about a third of all properties for sale in the US. Oregon ranked No.17, with one foreclosure filing for every 677 households. Washington ranked No. 34, with one for every 1,383 households.
Foreclosures are bad news for anyone who lives nearby and wants to sell their home. While foreclosure sales are booming in many areas, those properties are commanding deep discounts and pulling down neighboring property values.
The Oregonian - October 23, 2008
For help in navigating the foreclosure process as a buyer or a seller in the Portland, Oregon area. Please contact us, we specialize in short sales, the foreclosure process, REOs, and getting properties sold in today’s tough market. WestOne Properties / NW REO Team Call 503-594-0805 or 800-545-6096. www.WestOnePropertiesLLC.com
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