Foreclosure Starts in the Northwest Down in August

According to ForeclosureRadar, foreclosure starts were down during the month of August in Washington, Nevada, Arizona, California and Oregon. Oregon’s drop was huge – nearly 81%, while Washington actually went up by 35%. Sales of foreclosed homes also dropped or remained flat, with Nevada leading the way with an 18% drop and Washington seeing a gain of 37%. Washington is breaking the trend in this part of the country. Sean O’Toole, ForeclosureRadar CEO believes that this report should eliminate any further discussion of another wave of foreclosure homes hitting the market. He added, “The good news for investors and first-time buyers is that foreclosure sales have at least remained flat, continuing to provide opportunities.” O’Toole is confident that these numbers allay any fear of a fresh wave of foreclosures hitting the market following the presidential election in November.

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