Oregon foreclosures down in 2006

Bad news for real estate investors hoping to scoop up local homes going into foreclosure for dimes on the dollar.

Despite the supposed rotten year in real estate in 2006, Oregon’s foreclosure rate decreased by 5.4% compared to 2005, according to Foreclosures.com, a Sacramento, Calif.-based real estate investment advisory firm and publisher of foreclosure property information.

The state recorded nearly 13,000 foreclosure filings in 2006.

In the west, Nevada, California, Texas and Colorado did not fare well. Nevada’s foreclosures soared by 175% over 2005. California’s totals were up 94%, Colorado saw a 55% increase, and Texas rose 35%.

Overall, the nation’s totals were up 51% over the previous year, at nearly 1 million foreclosures.

Technorati Tags: Oregon, foreclosure, default, housing, homes

Photo by Z79. Used under Creative Commons license.

If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!

1 comment January 8th, 2007