Useless data. I live for it. What can I say? When running the normal foreclosure numbers for you all, I decided since I have all these numbers just sitting there, I needed to do something with it. So here you go, Melina’s fun facts about foreclosures in Salem Oregon. Okay, I know what you are saying. If I think this is fun, I really need to consider poking a sharp stick in my eye for a rip roaring time, but I’ll pass on that. Thanks for the offer though. ;-D
- The average mortgage on a home served with a foreclosure notice in Salem Oregon in 2011 was $182,593.
- The dollar amount of mortgages that went into foreclosure in 2011, just here in Salem, was a staggering $160,316,665. Yes…$160 million for those of you that have comma woes.
- The top 5 neighborhoods served with notices of default were Jan Ree with 31, Englewood with 14, Highland with 13, Wilark Park West with 13, and Creekside Estates with 10.
Phew…now I feel better having unloaded that information from my brain. The good news is that you can’t get that useless information anywhere else so remember it because there will be a quiz later.
Now, you may look at this lovely graph and see the downward trend that every newspaper is writing about. It’s true foreclosures are technically down 39.7% from 2010 in Salem. I should be doing the hokey pokey over this but let’s face it, I’d look really idiotic doing that dance since I’m older than 7.5. I’m more of a chicken dance kind of gal anyway, especially if I have a Gligamesh or Seven Brides brew in my hand…
But I digress, as usual.
We ended the year with 922 foreclosure notices filed on Salem homes. Some of you may remember my insanely gorgeous charts from earlier in the year where I extrapolated the data for those pesky MERS properties. Still have those homes just hanging out there with nowhere to go. Now, Wells Fargo has most definitely forged ahead with judicial foreclosures and Chase appears to be going that route for MERS here locally. All banks are still foreclosing on non-MERS properties after taking a brief reprieve in the third quarter. As such, our foreclosure notices were down significantly this year. It is likely that foreclosures would have declined this year anyway, but not by this much. This is an artificial drop. I disagree with the hype in the press that the market is improving. It’s just more of the same…vexation.
I can hear my Scottsdale real estate nemesis right now. Step away from the thesaurus, Tomson.
A special thanks to Fidelity National Title for supplying me with loads of data for me to crunch and nurturing my inner data geek. I feel better already. Okay, the Torii Mor wine was probably a bigger factor in feeling better, but I’m NOT doing the Macarena. Not happening people.