Idaho Foreclosure Activity Falls Slightly in November

Statewide filings down 2 percent from October; up 89 percent from year ago

 

Idaho foreclosure activity fell in November to 2,432 properties with foreclosure filings, down 2 percent from the previous month, but still 89 percent ahead of the level reported in November 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. With one in every 259 housing units receiving a foreclosure filing, the state’s foreclosure rate ranked fifth highest in the nation.

 

“Foreclosure activity was down slightly in Idaho for November but is still substantially high compared to this time last year,” said James J. Saccacio chief executive officer of RealtyTrac. “The largest monthly decrease was in bank-owned properties, which fell 21 percent from October. The state also had one of the highest year-over-year rises in home sales last year. These factors are contributing to the overall decline in activity we’re seeing.”

 

Idaho ranked 26th in the country in total foreclosures for the month.

 

Canyon County posts state’s highest foreclosure rate in November

With one in every 97 housing units receiving a foreclosure filing — 4.3 times the national average and 2.7 times the state average — Canyon County posted the highest county foreclosure rate in the state for November. Ada County had the second highest rate, with one in every 144 housing units receiving a foreclosure filing — 2.9 times the national average and 1.8 times the state average. Butte County came in third highest, with one in every 215 housing units receiving a foreclosure filing — 1.9 times the national average and 1.2 times the state average.

 

Five counties responsible for bulk of state’s foreclosure total in November

Five counties accounted for 86 percent of all foreclosure activity in Idaho for November. Ada County led all counties, totaling 1,066 properties with foreclosure filings for the month. Canyon County was second highest, documenting 685 properties with foreclosure filings. Reporting 180 properties with foreclosure filings for the month, Kootenai County had the third highest total in the state. Bonneville County was fourth highest, reporting 91 properties with foreclosure filings, while Bonner County reported 75 properties with foreclosure filings, fifth highest county total for the month.

 

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

Idaho accounted for 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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 – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Idaho

1,202

0

1,095

0

135

2,432

259

1.61

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

306

0

346

0

33

685

97

4.29

2.67

Ada

536

0

473

0

57

1,066

144

2.90

1.81

Butte

4

0

1

0

1

6

215

1.94

1.21

Washington

13

0

4

0

0

17

256

1.63

1.01

Bonner

38

0

32

0

4

74

268

1.55

0.97

 

 

Idaho Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Idaho

1,202

0

1,095

0

135

2,432

259

-1.58

89.41

 

 

 

 

 

 

 

 

 

 

Ada

536

0

473

0

57

1,066

144

9.22

105.00

Canyon

306

0

346

0

33

685

97

12.11

80.74

Kootenai

95

0

73

0

12

180

326

-14.69

114.29

Bonneville

51

0

35

0

5

91

409

12.35

28.17

Bonner

38

0

32

0

4

74

268

7.25

174.07

 

 

 

 

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