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345 SE 5th, Madras, OR 97741 | 541.475.2275
Not so long ago, analysts predicted declining foreclosure numbers in the state of Oregon in 2010, but after two months of continued increases, there appear to be more foreclosures on the horizon in 2010.
According to county-by-county data for the month of January, released by Eugene-based Gorilla Capital, the state's largest purchaser of homes sold at foreclosure auction, foreclosures were up in most counties.
Jefferson County bucked the trend and saw a decrease of 27 percent, based on notices of default. A notice of default is the first step in the foreclosure process.
"In the Oregon territories where Gorilla does business, we are seeing foreclosures at a rate that is unprecedented," said Gorilla CEO John Helmick.
Gorilla Capital keeps records for 15 Oregon counties, four of which saw declining home foreclosure numbers in January. The other 11 counties saw increases or no improvement from the previous month.
Numbers released by the company reveal the following foreclosure trends during the month of January:
. In Jefferson County, the number of notices of default decreased, falling from 30 in December to 22 in January.
. Crook County experienced the largest increase in notices of default, rising from 22 in December to 45 in January, an increase of 105 percent.
. Lincoln County saw its numbers drop from 52 to 32 notices of default between December and January, a 38 percent decrease.
Gorilla keeps detailed records on foreclosures throughout the state, tracking statistics on thousands of properties each year. Gorilla's Oregon Foreclosure Index measures foreclosure conditions in the 15 Oregon counties where Gorilla does business. The OFI has risen by 24 percent over the past month.
About Gorilla Capital
Gorilla Capital is Oregon's largest purchaser of homes sold at foreclosure auctions. Operating in 15 Oregon counties as well as in the states of Idaho, Arizona and Florida, the company is based in Eugene.
The company tracks, inspects, values, and reviews more than 30,000 foreclosure properties a year in order to find and acquire a few -- one out of 150 -- quality properties to offer homebuyers.
Gorilla Capital provides options for buyers seeking the bargain prices of quality homes purchased at foreclosure auction. For more information, visit www.GorillaCapital.com, or phone 541-344-7867.
