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Eugene Repo Homes for Sale Declined in July

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By : Allana Castro    99 or more times read
Statewide foreclosure statistics and Eugene repo homes for sale dropped by 6% in July 2010 when compared with June 2010. This is according to the latest housing market report released by the locally-based foreclosure buyer, Gorilla Capital. At Deschutes County, a total of 314 default notices were sent to homeowners in July. This represents a 10% drop compared with June.

Repossessed homes in Oregon and households that received at least an initial default notice combined for a total number of 1,378 for the month of July. The figure covers the 14 counties that Gorilla examined to track rates of foreclosures. The current total is an improvement from the June total of 1,460 and represents a 6% decline. Compared with July 2009, the decline is pegged at 8%.

According to Gorilla Capital officials, the best part of the July statistics is that out of the 15 counties in Oregon, nine recorded declining foreclosure numbers and fewer homes under repo property listings. They further added that although there has been an increase in the number of default notices, filings are not increasing every month in a sustained manner as what happened in 2009.

Eugene repo homes for sale and general foreclosure activity rates have eased down a bit in most areas of the state, according to the latest housing market reports. Although six counties still recorded increases, Gorilla reveals that this has been offset by the nine counties that recorded declines in total filings.

For July, the counties with the largest declines in foreclosure filings were Polk County at 32%, Coos at 27% and Linn at 18%. On the other side are the areas or counties with the highest number of filings for the month; these include Benton at 92%, Josephine County at 28% and Curry County at 18%. According to Gorilla, default notices have been declining in the area since January 2010 when the total figure was 1,778. This, according to real property analysts, symbolizes the stabilizing condition of the local housing market.

The number of Eugene repo homes for sale and the rates of foreclosures in the whole of Oregon are expected to continue to decline in the coming second half of 2010. The market is believed to be on its way to a recovery.
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