RealtyTrac has Numbers on Oregon Foreclosures

The foreclosure website www.RealtyTrac.com has released its summary of Oregon foreclosures. They are down for the 4th month in a row, from a high in July, and they are down from this time last year. No one thinks we've seen the worst of the foreclosures yet, and I expect to have 2010 really be the year of foreclosures. People have been holding onto home through unemployment assistance and family help, but as that runs out and before job growth is created, there will be another onslaught of foreclosures. That will lead to more bank owned properties for sale, which are always cheaper than those owned by a person, so average prices will continue to creep down in the next year.