Oregon foreclosures down in 2006

Lock by Z79Bad news for real estate investors hoping to scoop up local homes going into foreclosure for dimes on the dollar.

Despite the supposed rotten year in real estate in 2006, Oregon’s foreclosure rate decreased by 5.4% compared to 2005, according to Foreclosures.com, a Sacramento, Calif.-based real estate investment advisory firm and publisher of foreclosure property information.

The state recorded nearly 13,000 foreclosure filings in 2006.

In the west, Nevada, California, Texas and Colorado did not fare well. Nevada’s foreclosures soared by 175% over 2005. California’s totals were up 94%, Colorado saw a 55% increase, and Texas rose 35%.

Overall, the nation’s totals were up 51% over the previous year, at nearly 1 million foreclosures.

[tags] Oregon, foreclosure, default, housing, homes [/tags]

Photo by Z79. Used under Creative Commons license.

January 8, 2007 · Filed Under Market Activity, National News

Comments

One Response to “Oregon foreclosures down in 2006”

  1. Foreclosure Investing on January 17th, 2007 9:00 pm

    I don’t dispute the figures but I’ve never trusted statistics…especially percentages.

    And despite what the pundits say there is still massive opportunity in foreclosures…particularly pre-foreclosures which means finding the deal before “the herd” does.

    Lenders are inundated with foreclosures and routinely accept pennies on the dollar in the right situation. For example, large second mortgages.

    If you want to learn more, check out this site for a Free Real Estate Investing Course

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