WASHINGTON FORECLOSURES DOWN 12 PERCENT IN DECEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Up 13 Percent From a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – Washington reported 1,261 properties entering some stage of the foreclosure process in December, down 12 percent from the 1,440 properties reported in November, but still a 13 percent increase from the 1,118 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 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.

 

“With the exception of one other month, Washington foreclosures were the lowest we’ve seen them throughout 2006,” said James J. Saccacio, chief executive officer of RealtyTrac.   “Statistics show that the state had the third highest home appreciation rate in the country during the third quarter. This has likely contributed to the recent decrease in foreclosures.”

 

Washington ranked 18th in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 1,897 households ranks it 21st among the 50 states.

 

Pierce County accounts for largest share of state total

Pierce County claimed the largest share of Washington foreclosures, reporting 314 properties entering some stage of the foreclosure process during the month. King County reported the second highest total, with 238 properties entering some stage of the foreclosure. Snohomish County held the third highest total, reporting 106 properties entering some stage of the foreclosure process.

 

State’s top foreclosure rate found in Thurston County

Thurston County posted the state’s highest foreclosure rate for December, with one new foreclosure filing for every 281 households — 6.8 times the state average and 3.8 times the national average. Franklin County reported the second highest foreclosure rate, with one new foreclosure filing for every 731 households — 2.6 times the state average and 1.4 times the national average. Pierce County ranked third highest for the month, with one new foreclosure filing for every 882 households — 2.2 times the state average and 1.2 times the national average.

 

State contributes 1.2 percent to national total

Washington’s foreclosure activity accounted for 1.2 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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.

 

                  Washington Foreclosure Market by County – December 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

Washington

23

1,149

0

0

89

1,261

1,897

0.56

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

3

0

0

0

3

1,924

0.55

0.99

Asotin

0

1

0

0

0

1

9,111

0.12

0.21

Benton

1

35

0

0

10

46

1,217

0.87

1.56

Chelan

0

11

0

0

1

12

2,534

0.42

0.75

Clallam

0

0

0

0

0

0

 n/a

0.00

0.00

Clark

2

74

0

0

6

82

1,635

0.65

1.16

Columbia

0

1

0

0

0

1

2,018

0.52

0.94

Cowlitz

0

14

0

0

0

14

2,759

0.38

0.69

Douglas

0

2

0

0

0

2

6,472

0.16

0.29

Franklin

0

20

0

0

2

22

731

1.44

2.59

Garfield

0

0

0

0

0

0

 n/a

0.00

0.00

Grant

0

10

0

0

1

11

2,644

0.40

0.72

Grays Harbor

0

22

0

0

4

26

1,250

0.84

1.52

Island

0

3

0

0

0

3

10,793

0.10

0.18

Jefferson

0

7

0

0

0

7

2,021

0.52

0.94

King

7

223

0

0

8

238

3,119

0.34

0.61

Kitsap

1

26

0

0

6

33

2,807

0.38

0.68

Kittitas

0

1

0

0

0

1

16,475

0.06

0.12

Klickitat

0

0

0

0

0

0

 n/a

0.00

0.00

Lewis

0

12

0

0

2

14

2,113

0.50

0.90

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Mason

0

27

0

0

1

28

911

1.16

2.08

Okanogan

0

3

0

0

1

4

4,771

0.22

0.40

Pacific

0

1

0

0

0

1

13,991

0.08

0.14

Pend Oreille

0

1

0

0

0

1

6,608

0.16

0.29

Pierce

2

289

0

0

23

314

882

1.20

2.15

San Juan

1

2

0

0

0

3

3,251

0.32

0.58

Skagit

1

28

0

0

0

29

1,472

0.72

1.29

Skamania

0

1

0

0

0

1

4,576

0.23

0.41

Snohomish

4

91

0

0

11

106

2,228

0.47

0.85

Spokane

1

87

0

0

10

98

1,786

0.59

1.06

Stevens

0

10

0

0

0

10

1,760

0.60

1.08

Thurston

0

96

0

0

1

97

281

3.75

6.75

Walla Walla

0

0

0

0

0

0

 n/a

0.00

0.00

Whatcom

2

14

0

0

0

16

4,618

0.23

0.41

Whitman

0

6

0

0

0

6

2,779

0.38

0.68

Yakima

1

28

0

0

2

31

2,554

0.41

0.74

 

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 construction properties, with more than 1 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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