May 12, 2010
Eugene, Ore. – After seeing an increase in March, home foreclosure numbers in Oregon fell during the month of April, according to the latest figures released by Eugene-based Gorilla Capital, the state’s largest purchaser of homes sold at foreclosure auction.
A total of 1,494 notices of default were filed in April, down from 1,634 in March, a decrease of 9 percent. A notice of default is the official beginning of the foreclosure process.
“The monthly swings we’ve seen recently have made it challenging to pinpoint where exactly the Oregon foreclosure market is headed, but it’s always encouraging to see a decline in the numbers,” said Gorilla Capital CEO John Helmick. “We will continue to follow the market carefully, using the resources and knowledge we have at our disposal.”
Gorilla tracks thousands of properties each year, keeping detailed records on foreclosure statistics throughout the state (excluding the Portland metro market). Gorilla’s numbers for the month of April reveal the following foreclosure trends:
Benton and Curry counties experienced the largest increase in the number of notices of default.
Crook, Linn and Polk counties experienced the largest decreases in default filings.
Ten of the 15 Oregon counties where Gorilla Capital operates saw declines in notices of default. Five counties saw increases.
With the recent decline, real estate experts are optimistic that April’s numbers may indicate the beginning of a new positive trend in the housing market. However, the teetering numbers indicate that the economy is still in a state of flux.