Idaho Foreclosure Activity Declines in January

Statewide filings down 34 percent from December; Up 72 percent from a year ago

 

Foreclosure activity in Idaho decreased in January to 2,603 properties with foreclosure filings, a 34 percent decline from December 2009 but up 72 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Idaho foreclosures dropped in January,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in auctions, which fell 41 percent for the month. Sales picked up drastically throughout the state during the fourth quarter, and unemployment still remains below the national average. If these trends continue, we may see foreclosures continue to fall here in 2010.”

 

Idaho ranked 27th in the country in total foreclosures reported for the month. With one in every 246 housing units receiving a foreclosure filing, its foreclosure rate ranked 6th among the 50 states.

 

Ada County posts top foreclosure rate in the state for January

Ada County posted the state’s highest county foreclosure rate in January, with one in every 152 housing units receiving a foreclosure filing — 2.7 times the national average. Canyon County was second, with one in every 153 housing units receiving a foreclosure filing — 2.7 times the national average. Valley County came in third highest, with one in every 159 housing units receiving a foreclosure filing — 2.6 times the national average. Teton County posted the fourth highest foreclosure rate, where one in every 163 housing units received a foreclosure filing during the month — 2.5 times the national average. Washington County documented the fifth highest foreclosure rate, where one in every 232 housing units received a foreclosure filing during the month — 1.7 times the national average.

 

Ada County also dominates state in total foreclosure filings for January

Ada County also led all counties in total foreclosure filings, totaling 1,025 properties with foreclosure filings for the month. Canyon County was second highest, documenting 444 properties with foreclosure filings. Reporting 252 properties with foreclosure filings for the month, Kootenai County had the third highest total. Bonneville County came in fourth highest, reporting 119 properties with foreclosure filings, followed by Twin Falls County where 98 properties with foreclosure filings were reported.

 

State responsible for less than one percent of nation’s foreclosure total in January

Idaho accounted for less than one percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 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: DefaultNotice 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 – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Idaho

714

0

1,380

0

509

2,603

246

1.66

n/a

 

 

 

 

 

 

 

 

 

 

Ada

253

0

589

0

183

1,025

152

2.66

1.62

Canyon

163

0

178

0

103

444

153

2.65

1.61

Valley

9

0

39

0

16

64

159

2.55

1.55

Teton

10

0

14

0

6

30

163

2.48

1.51

Washington

0

0

18

0

1

19

232

1.74

1.06

 

           

 

Idaho Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Idaho

714

0

1,380

0

509

2,603

246

-34.47

72.16

 

 

 

 

 

 

 

 

 

 

Ada

253

0

589

0

183

1,025

152

-30.88

48.12

Canyon

163

0

178

0

103

444

153

-52.16

28.70

Kootenai

85

0

125

0

42

252

239

-37.78

95.35

Bonneville

43

0

58

0

18

119

322

-23.72

108.77

Twin Falls

23

0

55

0

20

98

308

-25.19

122.73

 

 

 

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