Idaho Foreclosure Activity Declines in February

Statewide filings decrease 17 percent from January; rate #7 nationally

 

Foreclosure activity in Idaho decreased in February to 2,167 properties with foreclosure filings, down 17 percent from the previous month, but still 23 percent ahead of the level reported in February 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity fell in Idaho in February, though it remained well above what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “With unemployment nearing a record-high level within the state, many residents remain concerned about the threat of foreclosure, even as the number of filings appears to be declining.”

 

One in every 296 Idaho housing units received a foreclosure filing in February, the seventh highest rate in the nation.

 

Canyon County posts top foreclosure rate in the state for February

Canyon County posted the state’s highest county foreclosure rate in February, with one in every 119 housing units receiving a foreclosure filing — 3.5 times the national average. Washington County was second, with one in every 152 housing units receiving a foreclosure filing — 2.8 times the national average. Teton County came in third highest, with one in every 196 housing units receiving a foreclosure filing — 2.1 times the national average.

 

Ada County led the state in total foreclosures in February

Ada County led the way, totaling 651 properties with foreclosure filings for the month. Canyon County was second, documenting 571 properties with foreclosure filings. Kootenai County ranked third highest, reporting 177 properties with foreclosure filings for the month. Bonneville County came in fourth place, reporting 94 properties with foreclosure filings, while the fifth highest total was in Bannock County, where 88 properties with foreclosure filings were reported for the month.

 

State a moderate contributor to nation’s month foreclosure total

Idaho accounted for 1 percent of the 308,524 properties with foreclosure filings reported nationwide in February. Total U.S. activity declined more than 2 percent from the previous month but was still 6 percent ahead of February 2009. One in every 418 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

Idaho Top Foreclosure Rates By County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

n/a

n/a

Idaho

1,071

0

758

0

338

2,167

296

1.41

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

211

0

278

0

82

571

119

3.52

2.49

Washington

13

0

12

0

4

29

152

2.75

1.94

Teton

14

0

11

0

0

25

196

2.14

1.51

Jefferson

27

0

11

0

1

39

209

2.00

1.42

Ada

400

0

128

0

123

651

240

1.75

1.24

 

 

Idaho Top Foreclosure Totals by County – February 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Jan 10

% Chg Feb 09

 

 

 

 

 

 

 

 

 

 

United States

46,207

60,001

84,641

38,992

78,683

308,524

418

-2.28

6.22

Idaho

1,071

0

758

0

338

2,167

296

-16.75

22.85

 

 

 

 

 

 

 

 

 

 

Ada

400

0

128

0

123

651

240

-36.49

-6.60

Canyon

211

0

278

0

82

571

119

28.60

20.72

Kootenai

81

0

64

0

32

177

340

-29.76

18.00

Bonneville

44

0

33

0

17

94

407

-21.01

8.05

Bannock

49

0

26

0

13

88

364

25.71

39.68

 

 

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