Oregon Home Foreclosures Down From 2011

Tuesday, March 13, 2012
February 2012 home foreclosure numbers were down from a year ago, according to Eugene-based Gorilla Capital

Note to Editors and Reporters: The following news release contains statewide foreclosure numbers for the Oregon counties where Gorilla Capital operates. News releases with county-specific data are forthcoming. Reporters on deadline may request immediate county-specific figures by calling (541) 344-7867.

EUGENE, Ore. – Oregon home foreclosures in February 2012 were down by 4 percent from one year ago, say officials with Eugene-based Gorilla Capital. In 15 Oregon counties where Gorilla operates, there were a total of 815 notices of default recorded last month  – down from 846 in February 2011. A notice of default is the official beginning of the foreclosure process.

“We’ve long said that 2012 will be a year of recovery for the state’s housing market and the numbers are reinforcing that speculation,” said John Helmick, Gorilla Capital CEO. “We are continuing to see a general leveling off of notice of default filings.”

Other notable foreclosure statistics include the following:

  • In 15 Oregon counties where Gorilla Capital operates, the largest year-over-year decreases in notices of default occurred in Josephine and Deschutes counties, which saw declines of 29 and 19 percent.
  • Five of 15 counties where Gorilla Capital operates saw year-over-year decreases in notices of default. Three counties saw no change.
  • In general, most of the increases in year-over-year notices of default were small or statistically insignificant – only three counties saw increases of more than 9 percent.

Notices of default increased from January to February in most Oregon counties, but those increases did not appear to be a part of a larger trend, Helmick said.