Tuesday, February 12, 2013
Eugene, OR – Filings for both court foreclosures (a.k.a. judicial foreclosures) and notice of default (NOD) for notice & sale foreclosures increased significantly over December in the 24 Oregon counties tracked by Gorilla Capital.
NODs in January increased more than 33 percent over the previous month. Sixty-nine NODs were filed in December as compared to 104 in January. Court foreclosures increased from 681 filings in December to 766 in January or approximately 11 percent.
“The work slows down in the real estate business during the holidays, so we always see an increase in foreclosure filings in January,” said John Helmick, CEO of Gorilla Capital. “These foreclosure filing numbers are nearly identical to our projections for January. Currently, the biggest driver of foreclosures is change in employment status – either a job change that requires a move to another location or a loss of a job – therefore, absent a significant change in the unemployment rate and/or significant new job creation, we expect the number of monthly foreclosures filings to stay in the current range as more properties and their owners enter the court foreclosure process.”
Oregon January Filings
|County||Court Foreclosures||Notice & Sale|
*Court foreclosures per county may increase as additional foreclosures are filed
** As of November 2012, Gorilla Capital operates in Benton, Clackamas, Coos, Crook, Curry, Deschutes, Douglas, Jackson, Jefferson, Josephine, Klamath, Lane, Lincoln, Linn, Marion, Multnomah, Polk, Tillamook, Washington and Yamhill counties.
1October and September 2012 judicial foreclosure figures did not include Clatsop, Columbia, Morrow and Umatilla counties.
About Gorilla Capital
Gorilla Capital is one of the nation’s leading purchasers of distressed real estate. By buying, redeveloping, and selling distressed homes, Gorilla Capital is actively engaged in the revitalization of neighborhoods, and increasing neighborhood property values. Gorilla Capital has been ranked by Inc. Magazine as one of the 1,000 fastest growing companies in America, each of the last 3 years, and was recently ranked as the 20th fastest growing real estate company in America. Oregon Business magazine ranked the company on the Private 150 list of the largest privately held companies in Oregon. Operating in multiple states, Gorilla Capital is based in Eugene, Ore.
The company prides itself on being methodical, efficient and tireless in its pursuit of properties that will appeal to the value-conscious homebuyer. After research, inspection, assessment and purchase of the distressed real estate, Gorilla renovates the house and then offers the fully remodeled home to the public at exceptional value. A third party, one-year home warranty, backs all Gorilla Capital’s homes.
For more information, visit www.GorillaCapital.com, or call (541) 344-7867.