Dec 10 2014
EUGENE, Ore. — After October’s record month for the year, turkey, shopping, and other holiday activities caused foreclosure filings in the 24 Oregon counties monitored by Gorilla Capital to drop in November by nearly 40%.
“With only 17 business days in November as compared to 22 in October, there were bound to be fewer foreclosures filed, particularly when you take into account some people added vacation to the four-day Thanksgiving holiday,” said John Helmick, CEO of Gorilla Capital. “I expect to see the traditional end of the year dip in activity beginning the middle of December and lasting through the first week of January followed by increased activity in Q1 of 2015.”
Non-judicial foreclosure filings fell from 406 in October to 206 in November. Judicial foreclosure dropped from 386 to 314.
For the month 520 foreclosures were filed compared to 848 in October, 493 in September, 663 in August, 600 in July, and 522 in June.
Gorilla also reported that 67% of the houses they bought in Oregon in November were vacant or Zombie homes. For the year, Zombies have comprised 73% of the houses Gorilla has purchased in Oregon.