Year-to-Date Foreclosure Filings Still Ahead of 2014

The signs indicate the Oregon housing market is healing as foreclosure filings dipped for the fourth consecutive month this year in the 23 counties monitored by Gorilla Capital. However, year-to-date, there were 54 percent more foreclosures filed through May than through the first five months of 2014.

Crook County decreased by 57 percent but Deschutes increased 44 percent and Jefferson County was up 100 percent.

Last month, 692 foreclosures were filed compared to April’s total of 764. Judicial foreclosures tallied 436, dropping 12 percent from previous month. Nonjudicial foreclosure filings also dropped from 266 in April to 256 in May, experiencing a 4 percent decrease.

“The sign pointing to a healing Oregon housing market is flashing caution,” said John Helmick, president of Gorilla Capital. “Foreclosure filings remain ahead of 2014 due to Oregon’s slow foreclosure process. If history tells us anything, foreclosure filings will take part of the summer off, so expect even fewer filings in July and August with total foreclosure filings heading back closer to 700 when school goes back in session this fall.”

Gorilla Capital continues to breathe life back into vacant homes and neighborhoods, also known as Zombies. One hundred percent of the houses purchased last month by Gorilla Capital were Zombies.

Gorilla Capital is a national purchaser of distressed real estate. By buying, redeveloping and selling distressed homes, Gorilla Capital says it is actively engaged in the revitalization of neighborhoods and increasing neighborhood property values.

Gorilla Capital has been ranked by Inc. Magazine as one of the 1,000 fastest growing companies in America each of the last three years, and was recently ranked the 20th fastest growing real estate company in America. Oregon Business magazine ranked the company on the Private 150 list of the largest privately held companies in Oregon. Operating in multiple states, Gorilla Capital is based in Eugene, Oregon.

The company prides itself on being methodical, efficient and tireless in its pursuit of properties that will appeal to the value-conscious homebuyer. After research, inspection, assessment and purchase of the distressed real estate, Gorilla renovates the house and then offers the fully remodeled home to the public at exceptional value. A third party, one-year home warranty backs all Gorilla Capital homes.

541-344-7867, www.GorillaCapital.com