Foreclosures remain high in lane county

According to a new study, foreclosure and short sale’s remain high in Lane County. Nearly a third of all recent home sales in Lane County were either short sales or foreclosures. The majority of these foreclosures are occurring because of loss of income, which has equally affected both the rich and poor. Because houses that are foreclosed upon or short sold sell for about 15% less than other houses, the entire market has become depressed. The situation here is similar to that of the rest of the nation, as a whole, with around 31% of sales in the US being foreclosed or short sold.

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