OREGON FORECLOSURES INCREASE 12 PERCENT IN MAY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 50 Percent From a Year Ago

 

IRVINE, Calif. – June 15, 2007 – Oregon reported 825 foreclosure filings in May, a 12 percent increase from the previous month, and a 50 percent decrease from May 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Although Oregon foreclosure filings increased slightly in May, the numbers are down since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show that the state’s home price appreciation rate was more than double that of the national average. This is likely contributing to the overall decline.”

 

Oregon ranked 27th in the country in total foreclosures reported for May. The state’s foreclosure rate of one foreclosure filing for every 1,765 households ranked it 28th among the 50 states.

 

Multnomah County accounts for largest share of state total

Multnomah County reported the highest foreclosure total for the month, reporting 130 foreclosure filings. Lane County came in second with 111 foreclosure filings, followed by Marion County with 108 foreclosure filings. Washington County held the fourth highest foreclosure total with 100 foreclosure filings, followed by Clackamas County with 75 foreclosure filings.

 

Josephine County posts highest foreclosure rate

Josephine County posted the highest foreclosure rate in Oregon for May, reporting one foreclosure filing for every 741 households — 2.4 times the state average. Linn County reported the second highest foreclosure rate, with one foreclosure filing for every 990 households — 1.8 times the state average. Marion County posted the third highest foreclosure rate, with one filing for every 1,002 households — 1.8 times the state average. Polk County reported the fourth highest foreclosure rate, with one foreclosure for every 1,112 households — 1.6 times the state average. Lane County posted the fifth highest foreclosure rate, with one foreclosure filing for every 1,252 households — 1.4 times the state average.

 

State contributes less than 1 percent to national total

Total foreclosure filings in Oregon accounted for less than 1 percent of the 176,137 foreclosure filings nationwide in May. The national total was up 19 percent from the previous month and up 90 percent from May 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 657 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                         Oregon Foreclosure Market by County – May 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

55,615

56,481

9,760

25,733

28,548

176,137

656

n/a

n/a

Oregon

584

211

0

0

30

825

1,765

0.37

n/a

 

 

 

 

 

 

 

 

 

 

Baker

0

0

0

0

0

0

n/a

0.00

0.00

Benton

6

2

0

0

0

8

3,998

0.16

0.44

Clackamas

64

7

0

0

4

75

1,826

0.36

0.97

Clatsop

3

0

0

0

0

3

6,562

0.10

0.27

Columbia

7

2

0

0

0

9

1,952

0.34

0.90

Coos

6

0

0

0

0

6

4,875

0.13

0.36

Crook

0

0

0

0

0

0

n/a

0.00

0.00

Curry

0

0

0

0

0

0

n/a

0.00

0.00

Deschutes

17

8

0

0

2

27

2,022

0.32

0.87

Douglas

9

2

0

0

1

12

3,607

0.18

0.49

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Harney

0

0

0

0

0

0

n/a

0.00

0.00

Hood River

0

0

0

0

0

0

n/a

0.00

0.00

Jackson

41

9

0

0

2

52

1,456

0.45

1.21

Jefferson

2

0

0

0

0

2

4,160

0.16

0.42

Josephine

28

15

0

0

2

45

741

0.89

2.38

Klamath

17

1

0

0

0

18

1,605

0.41

1.10

Lake

0

0

0

0

0

0

n/a

0.00

0.00

Lane

53

51

0

0

7

111

1,252

0.52

1.41

Lincoln

10

1

0

0

2

13

2,068

0.32

0.85

Linn

27

18

0

0

1

46

990

0.66

1.78

Malheur

0

0

0

0

0

0

n/a

0.00

0.00

Marion

67

41

0

0

0

108

1,002

0.66

1.76

Multnomah

104

18

0

0

8

130

2,220

0.30

0.80

Polk

13

9

0

0

0

22

1,112

0.59

1.59

Tillamook

3

0

0

0

0

3

5,302

0.12

0.33

Umatilla

9

2

0

0

1

12

2,306

0.28

0.77

Wallowa

0

0

0

0

0

0

n/a

0.00

0.00

Wasco

0

0

0

0

0

0

n/a

0.00

0.00

Washington

84

16

0

0

0

100

1,789

0.37

0.99

Yamhill

14

9

0

0

0

23

1,316

0.50

1.34

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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