Idaho Foreclosure Activity Fell in Second Quarter

Activity level fell 2 percent from Q1; rate 7th highest in nation

Foreclosure filings decrease 9 percent mid-year; up 9 percent in June

 

Idaho reported 6,200 properties with foreclosure filings for the second quarter of 2010, a 2 percent fall from the first quarter, but still 22 percent above the level reported in the second quarter of 2009. One in every 103 Idaho housing units received a foreclosure filing during the quarter, giving the state the seventh highest foreclosure rate in the nation.

 

Activity level in Idaho fell during the first half of 2010, but still rose for the month of June. For the first six months of the year, Idaho reported 10,799 properties with foreclosure filings, a 9 percent fall in activity from the second half of 2009, but still 36 percent above the level reported mid-year 2009. In June the state tallied 2,253 properties with foreclosure filings, an increase of 9 percent from the previous month and up 20 percent from June 2009.

 

“Foreclosure activity in Idaho fell slightly during the second quarter of this year, though it remained significantly above the level reported for the second quarter of 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “The number of filings fell over the first half of 2010 as compared to the previous six months, but not enough to bring activity back in line with early 2009. High unemployment, which is currently at 9 percent, continues to make foreclosure a threat among Idaho residents.”

 

Canyon County posts state’s top foreclosure rate for the quarter

Canyon County posted the highest county foreclosure rate in Idaho during the second quarter, with one in every 49 housing units receiving a foreclosure filing — three times the national average. Teton County had the second highest foreclosure rate, with one in every 61 housing units receiving a foreclosure filing — 2.4 times the national average. Ada County had the third highest foreclosure rate, with one in every 72 housing units receiving a foreclosure filing — twice the national average.

 

Ada County leads state in total foreclosures for the second quarter

Ada County led Idaho in total foreclosures, reporting 2,174 properties with foreclosure filings for the quarter. Canyon County had the second highest total, reporting 1,399 properties with foreclosure filings. Reporting 623 properties with foreclosure filings for the quarter, Kootenai County came in third. Bonneville County was fourth, reporting 299 properties with foreclosure filings. Fifth highest total was Twin Falls County, where 219 properties with foreclosure filings were reported for the quarter.

 

State a minor contributor to nation’s quarterly total

Foreclosure activity in Idaho represented less than 1 percent of the 895,521 properties with foreclosure filings reported nationwide for the second quarter of 2010. Total U.S. activity fell by almost 4 percent from the previous quarter and was virtually unchanged from the second quarter 2009. One in every 144 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: 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 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 – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

n/a

n/a

Idaho

2,230

6

2,904

0

1,060

6,200

103

1.39

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

526

3

626

0

244

1,399

49

2.97

2.13

Teton

26

0

31

0

23

80

61

2.35

1.69

Ada

755

1

1,044

0

374

2,174

72

2.01

1.44

Kootenai

277

2

262

0

82

623

97

1.49

1.07

Valley

30

0

39

0

29

98

104

1.39

1.00

 

 

Idaho Top Foreclosure Totals by County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q1 2010

% Chg Q2 2009

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

-3.94

0.64

Idaho

2,230

6

2,904

0

1,060

6,200

103

-2.22

21.57

 

 

 

 

 

 

 

 

 

 

Ada

755

1

1,044

0

374

2,174

72

-5.68

5.79

Canyon

526

3

626

0

244

1,399

49

-4.24

4.95

Kootenai

277

2

262

0

82

623

97

10.66

16.23

Bonneville

117

0

141

0

41

299

128

24.07

35.29

Twin Falls

105

0

90

0

24

219

138

7.35

67.18

 

 

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