Idaho Foreclosure Activity Falls in First Quarter

Statewide foreclosure filings increase from last year

March numbers up from a month earlier and from a year ago

 

Foreclosure activity in Idaho fell 14 percent during the first quarter of 2010, but was up 48 percent from the same period last year. In all, the state reported 6,341 properties with foreclosure filings during the quarter.

 

For March, the state reported 2,473 properties with foreclosure filings, an 14 percent increase from the previous month, and 29 percent ahead of the level reported in March 2009. One in every 259 Idaho housing units received a foreclosure filing during the month, the eighth highest state foreclosure rate.

 

“After three years of consecutive quarterly increases, foreclosure activity declined in the first quarter of 2010,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest drop was in auctions, which fell 29 percent for the quarter. The state’s unemployment rate has begun to decline recently and home sales have really picked up. These are major contributing factors to this recent decline in the state’s foreclosure level.”

 

Idaho ranked 29th in the country in total foreclosures for the first quarter. With one in every 101 Idaho housing units receiving a foreclosure filing, its foreclosure rate ranked eighth among the 50 states.

 

Canyon County posts top foreclosure rate for the first quarter

Canyon County posted the highest county foreclosure rate in the state during the first quarter, as one in every 47 housing units received a foreclosure filing — three times the national average and 2.2 times the state average. Teton County came in second, with one in every 64 housing units receiving a foreclosure filing — 2.2 times the national average and 1.6 times the state average. With one in every 68 housing units receiving a foreclosure filing — 2.1 times the national average and 1.5 times the state average — Ada County came in third highest.

 

Ada County led state in total foreclosures for the first quarter

Ada County documented 2,305 properties with foreclosure filings, the highest foreclosure total of any county in the state for the quarter. Canyon County was second, reporting 1,461 properties with foreclosure filings. Reporting 563 properties with foreclosure filings for the month, Kootenai County came in third. Bonneville County was fourth highest, reporting 241 properties with foreclosure filings. Twin Falls County reported 204 properties with foreclosure filings, the fifth highest total in the state.

 

State a minor contributor to the nation’s quarterly foreclosure total

Idaho accounted for less than 1 percent of the 932,234 properties with foreclosure filings reported nationwide for the first quarter of 2010. Total U.S. activity grew by more than 7 percent from the previous quarter and was 16 percent ahead of the first quarter 2009. One in every 138 U.S. housing units received a foreclosure filing during the quarter.

 

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 – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

/Natl.

Avg.

/State

Avg.

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

n/a

n/a

Idaho

2,027

0

3,080

0

1,234

6,341

101

1.37

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

534

0

652

0

275

1,461

47

2.98

2.18

Teton

26

0

41

0

10

77

64

2.18

1.59

Ada

690

0

1,161

0

454

2,305

68

2.05

1.50

Valley

24

0

64

0

39

127

80

1.73

1.26

Lincoln

1

0

13

0

3

17

107

1.30

0.95

 

 

Idaho Top Foreclosure Totals by County – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every

X HU (rate)

% Chg

Q4 2009

% Chg

Q1 2009

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

7.23

16.02

Idaho

2,027

0

3,080

0

1,234

6,341

101

-13.56

47.71

 

 

 

 

 

 

 

 

 

 

Ada

690

0

1,161

0

454

2,305

68

-22.81

34.25

Canyon

534

0

652

0

275

1,461

47

-11.40

38.09

Kootenai

224

0

238

0

101

563

107

-14.70

34.05

Bonneville

85

0

111

0

45

241

159

-7.31

27.51

Twin Falls

34

0

129

0

41

204

148

0.49

29.11

 

 

 

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