IDAHO FORECLOSURE ACTIVITY DOWN 15 PERCENT IN MARCH

State Filings Up 85 Percent From March 2007

 

IRVINE, Calif. – April 30, 2008 – Idaho reported 657 properties with foreclosure filings in March. After a 5 percent increase in February, statewide activity decreased 15 percent for the month but was still 85 percent ahead of the total reported for March 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million 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.

 

Idaho foreclosures appear to be heading downward in March,” said James J. Saccacio, chief executive officer of RealtyTrac. “Currently the state has the third lowest unemployment rate in the country. This is very much a contributing factor to the recent decline in foreclosure activity we are seeing.”

 

Idaho ranked 32nd in the country in total foreclosures for the month. With one in every 937 households receiving a foreclosure filing, its foreclosure rate ranked 21st among the 50 states.

 

Top three counties responsible for bulk of state’s foreclosure activity

Three Idaho counties accounted for 73 percent of all foreclosure activity in the state for March. Ada County led all counties, reporting 226 properties with foreclosure filings. Canyon County came in second highest, documenting 162 properties with foreclosure filings. Kootenai County had the third highest total, reporting 92 properties with foreclosure filings. Fourth highest total was in Bannock County, where 34 properties with foreclosure filings were reported. Bonneville County came in fifth, reporting 28 properties with foreclosure filings.

 

Washington County posts top foreclosure rate for March

Washington County tallied the highest county foreclosure rate in the state for March, with one in every 355 households receiving a foreclosure filing for the month — 2.6 times the state average and 1.5 times the national average. Canyon County posted the state’s second highest rate, with one in every 393 households receiving a foreclosure filing during the month — 2.4 times the state average and 1.4 times the national average. The third highest rate in the state was reported in Power County, where one in every 604 households received a foreclosure filing in March — 1.6 times the state average.

 

State a minor contributor to nation’s foreclosure total in March

Total foreclosure filings in Idaho accounted for less than 1 percent of the 234,685 properties with foreclosure filings reported nationwide in March. The national total represents a 5 percent increase from the previous month and is 57 percent ahead of the total reported for March 2007. One in every 538 U.S. households received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 Foreclosure Market by County – March 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,493

47,677

55,398

23,724

51,393

234,685

538

n/a

n/a

Idaho

385

0

242

0

30

657

937

0.57

n/a

 

 

 

 

 

 

 

 

 

 

Ada

161

0

60

0

5

226

658

0.82

1.42

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Bannock

14

0

16

0

4

34

917

0.59

1.02

Bear Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Benewah

0

0

1

0

1

2

2,167

0.25

0.43

Bingham

9

0

4

0

2

15

1,017

0.53

0.92

Blaine

4

0

2

0

0

6

2,357

0.23

0.40

Boise

0

0

1

0

0

1

4,932

0.11

0.19

Bonner

8

0

4

0

0

12

1,654

0.33

0.57

Bonneville

17

0

10

0

1

28

1,290

0.42

0.73

Boundary

0

0

0

0

0

0

 n/a

0.00

0.00

Butte

0

0

0

0

0

0

 n/a

0.00

0.00

Camas

0

0

0

0

0

0

 n/a

0.00

0.00

Canyon

103

0

51

0

8

162

393

1.37

2.39

Caribou

0

0

0

0

0

0

 n/a

0.00

0.00

Cassia

0

0

3

0

0

3

2,696

0.20

0.35

Clark

0

0

0

0

0

0

 n/a

0.00

0.00

Clearwater

0

0

0

0

0

0

 n/a

0.00

0.00

Custer

0

0

0

0

0

0

 n/a

0.00

0.00

Elmore

0

0

4

0

0

4

2,912

0.18

0.32

Franklin

2

0

3

0

0

5

858

0.63

1.09

Fremont

0

0

2

0

0

2

3,830

0.14

0.24

Gem

0

0

1

0

0

1

6,624

0.08

0.14

Gooding

0

0

1

0

0

1

5,909

0.09

0.16

Idaho

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

2

0

3

0

0

5

1,505

0.36

0.62

Jerome

1

0

2

0

1

4

1,788

0.30

0.52

Kootenai

39

0

49

0

4

92

622

0.87

1.51

Latah

0

0

1

0

0

1

14,970

0.04

0.06

Lemhi

0

0

1

0

0

1

4,421

0.12

0.21

Lewis

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

0

1

0

0

1

1,763

0.31

0.53

Madison

1

0

0

0

0

1

10,758

0.05

0.09

Minidoka

0

0

1

0

0

1

7,575

0.07

0.12

Nez Perce

1

0

2

0

0

3

5,581

0.10

0.17

Oneida

0

0

0

0

0

0

 n/a

0.00

0.00

Owyhee

0

0

0

0

0

0

 n/a

0.00

0.00

Payette

2

0

5

0

0

7

1,242

0.43

0.75

Power

4

0

1

0

0

5

604

0.89

1.55

Shoshone

2

0

1

0

0

3

2,362

0.23

0.40

Teton

0

0

0

0

0

0

 n/a

0.00

0.00

Twin Falls

8

0

3

0

4

15

1,932

0.28

0.48

Valley

2

0

2

0

0

4

2,387

0.23

0.39

Washington

5

0

7

0

0

12

355

1.51

2.64

           

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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