Oregon’s Foreclosure Rates Drop Sharply

By Kate Renner, August 10,2011

LANE COUNTY, Ore. — Foreclosure rates all across the state dropped significantly in the past month.

Lane County saw 33 percent fewer foreclosures in July than in June.

Compare this July to last July, and that number dipped 60 percent.

“The trend we’ve seen in the last nine months is powerful. From 2007 we only saw increases in the number of foreclosures. In the last nine months we’ve only seen decreases in the number of foreclosures being started. I think that really bodes well for the long-term real estate market here in Lane County,” said John Helmick, Gorilla Capital.

Douglas County dropped 33 percent from last month.

Linn County saw 40 percent fewer foreclosures.

And Benton County dropped a whopping 62 percent since June.

According to Gorilla Capital, the rest of the real estate market should improve.

Gorilla Capital tracks distressed real estate in Oregon counties as foreclosed properties are digested through the real estate market.

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