Oregon Is The 2nd Lowest In Foreclosures And Delinquencies

September 6th in the Oregonian it showed that Oregon was the second lowest in foreclosures and delinquencies, .5% and 2.4% respectively.

For subprime ARM loans, the default rate for Washington stood at 10.4 percent; only Oregon (10.2 percent) and Utah (9.4 percent) claimed lower rates of delinquencies.

The inventory is the same as it was in January of this year and about the same as 4 years ago. Our market time is lower than it was 4 years ago and August 2006, which was after the slowdown, to August 2007 RMLS shows 8.7% appreciation.

I don't believe everything is fantastic but we are not Las Vegas or San Diego. We are back to a normal market. Because Sellers may be more desperate due to rising interest rates on their ARM's and higher inventory they might be more flexible.

Though one thing to keep in mind is if you bought in the mid 90's after the early 90's boom when interest rates were 9% you would have done great. Now is a difficult time for flippers and people looking for quick returns. But when those people come into the market it will be the next big push in appreciation. Until then we are probably appreciate between 3% and 7% barring any recession or 9/11 event which no one can plan for.