Home Foreclosures dropped to their lowest level since November 2006
Good Monday Morning!
Nationally, home foreclosures have dropped to their lowest level since November of 2006. Here in the Eugene and Springfield area the number of new foreclosures is down significantly as well. I receive a weekly list of the local mortgage default notices and last week for the first time since I can remember, there were no new notices in the Eugene and Springfield area.
This is great news both nationally and locally and most likely indicates that the economy is on the upswing and that we have weathered the worst part of the foreclosure storm. This trend could indicate the beginning of a return to a more normal housing market.
Mortgage interest rates continue to hold at historic low levels and this has created an extremely hot Real Estate market in many parts of the country. In fact in areas that were very depressed just months ago, such as the Phoenix area of Arizona and Orange County in Southern California, multiple offers are now frequent on many homes for sale. Nationally and locally there is a shortage of home inventory in many price ranges and neighborhoods. If this trend should continue we may see home prices on the rise again. This would be good news for many home owners.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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3845 Harlow Rd
Adorable Home with Attention to Detail! High ceilings, bay window, architectural arches, granite counters, lifetime vinyl siding, double-pane vinyl windows, recessed lighting. Entry with tray ceiling & large closet. Kitchen opens to dining area with...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
