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Inasmuch as I haven't written about Oregon's foreclosure activity in quite awhile, I am overdue for a post on this subject. Frankly, I'm wanting good news instead. However, we're still not in a good place.  Oregon ranks #9 with a high number of foreclosures.There are four states where nearly 1/2 of all the foreclosures exist: California 22.7%, Florida 14.9%, Arizona 6.7% and Illinois 5.7%,. The other half includes the rest of the 46 states. Nationwide, nearly 1/3 of all home sales are now foreclosures.
However, for January 2010, foreclosure activity has actually declined according to Realty Trac. For their full report on foreclosure activity by state you can click here. Recently, Portland was lauded as a great place to buy rather than rent by Forbes. Also, the NY Times posted an article about the suburbs in places like California becoming "slumburbias" but applauds Portland for its tight boundary and building restrictions. The article states that Portland's prices haven't fallen nearly as much as other areas because of the tight reign Portland has had on suburban sprawl compared to the likes of Las Vegas and parts of California.
Following are the stats for the areas this blog covers. If you think there are deals to be had with foreclosures, look at each area as to the % of the sold price versus the original listing prices. The only area that, in my opinion, had true bargains was the West Portland market. These stats include single family, attached, condos, and townhouses. The condo market has been hit hard with foreclosures in the West Portland area and that % change reflects, I believe, those condos selling at much lower prices.
| Foreclosure Activity January 2010 |
Lake Oswego RMLS™ #147 |
West Linn RMLS™ #147 |
West Portland RMLS™ #148 |
Tigard RMLS™ #151 |
| # Active |
4 |
3 |
22 |
13 |
| # Pending |
7 |
8 |
14 |
9 |
| # Sold |
2 |
4 |
22 |
9 |
| High Sold $ |
$284,000 |
$635,001 |
$495,400 |
$336,000 |
| Low Sold $ |
$101,500 |
$130,000 |
$102,000 |
$46,500 |
| Average Sold $ |
$192,750 |
$332,750 |
$252,589 |
$250,156 |
| $ Sq. Ft. |
$86 |
$132 |
$148 |
$119 |
| Days On Market |
107 |
17 |
71 |
124 |
| Average Sq. Ft. |
3065 |
2522 |
1866 |
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| Sales Price vs. Original List Price |
96.4% |
102.58% |
85.8% |
92.5% |
| Source: RMLS™ |
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  ALL ABOUT.....Portland.Oregon.Real Estate, is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 Unported License. © Copyright 2008-2010 Betty Jung. All Rights Reserved. Use of this article, photos and images without permission is a violation of federal copyright laws. Based on a Blog at WordPress. (For more local and national real estate information, go to http://www.bettyjung.com/).  Portland
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