IDAHO FORECLOSURE ACTIVITY DOWN 18 PERCENT IN JUNE

IRVINE, Calif. – July 30, 2008 – Idaho reported 666 properties with foreclosure filings in June, an 18 percent decline from the previous month but still 20 percent above the level reported for June 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 1.5 million properties from over 2,200 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 declined significantly in June but are still up over this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show the state’s unemployment rate at nearly 2 percent below the national average. Additionally, its home values have increased more than most other states during the past year. If these trends continue, it is likely that foreclosures will continue to head downward.”

 

Idaho ranked 32nd in the country in total foreclosures for the month. With one in every 924 households receiving a foreclosure filing, its foreclosure rate ranked 21st among the 50 states.

 

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

Five Idaho counties accounted for 85 percent of all foreclosure activity in the state for June. Canyon County tallied the highest county total, reporting 248 properties with foreclosure filings. Ada County came in second highest, documenting 200 properties with foreclosure filings. Kootenai County had the third highest total, reporting 59 properties with foreclosure filings. Fourth highest total was posted in Bannock County, where 38 properties with foreclosure filings were reported. Twin Falls County came in fifth, reporting 22 properties with foreclosure filings.

 

Canyon County posts top foreclosure rate for June

Canyon County tallied the highest county foreclosure rate in the state in June, with one in every 256 households receiving a foreclosure filing for the month — 3.6 times the state average and twice the national average. Ada County posted the state’s second highest rate, with one in every 743 households receiving a foreclosure filing during the month — 1.2 times the state average. The third highest rate in the state was reported in Bannock County, where one in every 821 households received a foreclosure filing in June.

 

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

Idaho accounted for less than 1 percent of the 252,363 properties with foreclosure filings reported nationwide in June. The national total represents more than a 3 percent decrease from the previous month and is 53 percent ahead of the total reported for June 2007. The nation’s foreclosure rate decreased to one in every 501 U.S. households receiving 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 Data by County – June 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X  HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

53,544

48,996

53,904

24,356

71,563

252,363

501

n/a

n/a

Idaho

469

0

103

0

94

666

924

0.54

n/a

 

 

 

 

 

 

 

 

 

 

Ada

165

0

15

0

20

200

743

0.67

1.24

Adams

0

0

0

0

0

0

 n/a

0.00

0.00

Bannock

27

0

9

0

2

38

821

0.61

1.13

Bear Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Benewah

0

0

0

0

0

0

 n/a

0.00

0.00

Bingham

7

0

1

0

3

11

1,386

0.36

0.67

Blaine

11

0

0

0

2

13

1,088

0.46

0.85

Boise

0

0

0

0

0

0

 n/a

0.00

0.00

Bonner

13

0

2

0

2

17

1,168

0.43

0.79

Bonneville

11

0

2

0

4

17

2,125

0.24

0.44

Boundary

1

0

1

0

0

2

2,217

0.23

0.42

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

152

0

49

0

47

248

256

1.95

3.61

Caribou

0

0

0

0

0

0

 n/a

0.00

0.00

Cassia

0

0

0

0

0

0

 n/a

0.00

0.00

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

1

0

1

2

5,824

0.09

0.16

Franklin

0

0

2

0

0

2

2,146

0.23

0.43

Fremont

0

0

0

0

0

0

 n/a

0.00

0.00

Gem

0

0

1

0

0

1

6,624

0.08

0.14

Gooding

0

0

0

0

0

0

 n/a

0.00

0.00

Idaho

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

6

0

0

0

0

6

1,254

0.40

0.74

Jerome

0

0

0

0

0

0

 n/a

0.00

0.00

Kootenai

48

0

1

0

10

59

969

0.52

0.95

Latah

0

0

0

0

0

0

 n/a

0.00

0.00

Lemhi

0

0

0

0

0

0

 n/a

0.00

0.00

Lewis

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

0

1

0

0

1

1,763

0.28

0.52

Madison

1

0

1

0

1

3

3,586

0.14

0.26

Minidoka

0

0

1

0

0

1

7,575

0.07

0.12

Nez Perce

1

0

4

0

0

5

3,348

0.15

0.28

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

4

0

2

0

0

6

1,449

0.35

0.64

Power

0

0

0

0

0

0

 n/a

0.00

0.00

Shoshone

2

0

2

0

0

4

1,772

0.28

0.52

Teton

0

0

1

0

0

1

3,951

0.13

0.23

Twin Falls

14

0

6

0

2

22

1,317

0.38

0.70

Valley

6

0

1

0

0

7

1,364

0.37

0.68

Washington

0

0

0

0

0

0

 n/a

0.00

0.00

 

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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