A look at the real estate market sector for distressed properties. Looking for Salem Oregon area foreclosures and short sales? Learn to see if current market conditions support those sales.
RealtyTrac comes out with national foreclosure data every month, and according to their latest report, Oregon ranked #5 for foreclosure rate with a 1 in every 357 homes being served with a foreclosure notice. What does this mean for Salem Oregon home buyers and sellers? Foreclosures are definitely running hotter in general. Foreclosure notices in…
“Is this a short sale?” I can’t tell you how many agents are asking me that question on my regular listings here in Salem Oregon. I really want to scream…NOT ALL HOMES FOR SALE ARE DISTRESSED. In fact here in Salem Oregon only a small percentage are short sale or foreclosure attempts. MOST are regular…
I was reading Eugene Loan Guy, Fred Chamerlain’s blog today, and he was talking about a new loan program called HomePath for Fannie Mae homes. For folks wanting to build remodeling money into their mortgage there has always been the FHA streamline and regular FHA rehab loans, as well as renovation loans available through conventional…
While the face of foreclosure is changing, what does this really mean for local buyers and sellers hoping for a short sale here in Salem-Keizer? Are people really getting good deals? I did a little “mini-study” of successfully negotiated short sales for the past three months. I pulled data from the WVMLS which was designated…
With people reading about the plethora of short sale homes and foreclosures all across the nation, it makes sense to me that you will want to try and snap up one of these “good deals” here in Salem Oregon Interest rates are still low, and you think that a short sale is the way to…
In October 2008, I wrote a post The Mighty Start to Fall about the bankruptcy of Pacific Lifestyle Homes…one of the larger builders in the area. They had a liquidation sale going on back in October as part of their restructuring for bankruptcy. There were several Salem Oregon homes that were part of that original…
Foreclosure…short sales…these are common words these days. Buyers specifically ask about these homes as they are perceived to be a good deal. The rate of foreclosure has gone up in Salem Oregon and will continue to rise in 2009. Right now 3.8% of the listings on the WVMLS are designated as short sales. There are…
Okay..I’ve had some request for foreclosure data specifically regarding our local areas. As I was crunching this data today and working on the charts, I was checking the MLS for new homes for buyers. As I pulled 14 listings for a buyer today, 3 were designated as short sale attempts. I can say that is…
Just today the Fed met and lowered interest rates to historic lows, and they also announced plans to discuss purchasing bad securitized loans and potentially treasury bonds. As a result there was a rally on the stock market with this news. Why is the fed taking such bold moves? This… That seriously huge green peak…
Sometimes I am surprised that people are surprised. According to a December 8th article by Market Watch, a high number of modifed mortgages are re-defaulting. They were surprised?? Really?? According to the OCC statistics, which looked at loans modified in the first quarter and second quarter of 2008, 36% of borrowers had re-defaulted by being…
