Foreclosure and Distressed Overview-Deschutes County August 2011

Unlike the news media of today, we believe sellers, buyers and investors need real data and market trend overviews to see the opportunities available in the Bend, OR Real Estate markets when considering forecloures.  Foreclosure filings in August fell 5% from a year ago, the third straight month of declines, according to RealtyTrac, an online foreclosure marketplace.

Even with the drop, the number for Deschutes County new foreclosures are still significant with 304 new foreclosures. ( RealtyTrac defines this as the number of properties that recieved a foreclosure filing -a default notice, auction notice or bank respossession. There were 190 in Bend, 79 in Redmond, 32 in Lapine and 3 in Sisters.

August 2011 Foreclosure Rate Heat Map  Deschutes Co. August 2011

The foreclosure status distribution for Deschutes County was:

In Deschutes County on an average 1 in every 258 housing units recieved a foreclosure filing in August 2011.

The foreclosure rate on the above map is calculated by dividing the total housing units in the city ( bases on the most recent estimate from the US Census bureau) by the total number of properties that received foreclosure filings during the month. (using most recent monthly data available), and that number is expressed as a ratio (i.e. 1 to 100 housing units received a foreclosure filing during the month).  The lower the second number in the ratio, the higher the foreclosure rate. So 1 in 100 is higher than 1 in 1000.

Foreclosure Status Distribution- Deschutes ,Oregon- August 2011

The above chart shows the distribution percentages in Deschutes County based on total number of properties in some stage of the foreclosure process-default, auction or bank-owned.  Default is the first stage of the process, followed by auction- when the property is scheduled for a public foreclosure auction- and finally bank-owned, when the property has been repossessed by the foreclosing lender ( reverted back to the lender).

Foreclosure by Estimated Market Value-Deschutes, OR -August 2011

The values in the above chart are calculated by running an automated valuation models for all active foreclosure properties on a monthly basis.  The automated valuation model relies primarily on recent comparable sales and price per square foot.  The values are grouped into ranges for the purposes of this graph, ( The Highest available catagory is $100,000 to $200,000 with 61 properties in Deschutes County).

Foreclosures by Square Footage-Deschutes, Oregon- August 2011

Currently the highest available catagory is 1400 to 1599 Sqft. and their are 217 units.

The above chart counts are updated monthly and calculated by aggregating all active foreclosures with square footage data available.  Square footages are grouped into ranges for purposes of this graph.

Foreclosures by Number of Bedrooms- Deschutes Co., Oregon- Aug 2011

Counts are updated monthly and calculated by aggregating all active foreclosures with bedroom count data available.