Portland Tribune reporter Steve Law also picked up on the CoreLogic report on short sales (my prior blog post on their report is HERE). His story HERE also includes some Portland and Oregon data from CoreLogic and Portland RMLS:
Short sales accounted for 6 percent of all home sales in Portland the first five months of the year and 13 percent of all homes listed for sale in the city as of early June, according to the Regional Multiple Listing Service, or RMLS.
Oregon had the 17th-highest number of short sales among the states during the past two years, according to CoreLogic...
At the beginning of the year, 79,268 home and condo owners in the Portland area owed more on their mortgage than their dwelling was worth, according to CoreLogic, which was then a unit of First American. That means one out of every six families with mortgages in the Portland area were “under water.”
Originally created and posted on the Oregon Housing Blog.