Idaho Foreclosure Activity Increases 102 Percent in 2009

Statewide filings up 371 percent from 2007 and 63 percent from November

 

Idaho ended 2009 tallying 17,161 properties with foreclosure filings, a 102 percent increase from the total reported for 2008 and 371 percent higher than the level reported for all of 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  With one in every 37 housing units receiving a foreclosure filing, Idaho’s foreclosure rate ranked sixth highest in the nation for the year.

 

Idaho reported 3,972 properties with foreclosure filings in December, a 63 percent increase over the previous month, and up 149 percent from December 2008. The state’s foreclosure rate — one in every 159 housing units received a foreclosure filing — was fourth highest in the nation for the month.

 

“Foreclosure activity continued to heat up in Idaho in December as the state ended 2009 with more than double the number of foreclosure filings reported for 2008 and nearly five times the amount reported for 2007,” said James J. Saccacio, chief executive officer of RealtyTrac. “With the state’s unemployment rate now at 9.1 percent, foreclosures may continue to mount for some time.”

 

Canyon County posted state’s highest foreclosure rate in 2009

With one in every 17 housing units receiving a foreclosure filing in 2009, Canyon County posted the highest county foreclosure rate in the state for the year. Ada County followed in second, reporting one in every 22 housing units receiving a foreclosure filing. Teton County came in third highest, reporting one in every 23 housing units receiving a foreclosure filing. Kootenai County was fourth highest with one in every 38 housing units receiving a foreclosure filing. Valley County had the fifth highest rate, also with one in every 38 housing units receiving a foreclosure filing during the year.

 

Ada County led state in foreclosure activity for 2009

Ada County reported 6,821 properties with foreclosure filings for the year, the highest county total in the state. Canyon County came in second, documenting 3,983 properties with foreclosure filings. Reporting 1,552 properties with foreclosure filings for the year, Kootenai County had the third highest total in the state. Bonneville County was fourth highest, reporting 676 properties with foreclosure filings, followed by Bannock County in fifth place, tallying 562 properties with foreclosure filings for all of 2009.

 

State a minor contributor to nation’s foreclosure total in 2009

Idaho accounted for 1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Idaho

17,161

2.72

37

101.61

371.46

 

 

 

 

 

 

Canyon

3,983

5.99

17

81.54

344.53

Ada

6,821

4.45

22

113.96

421.08

Teton

191

4.37

23

229.31

4,675.00

Kootenai

1,552

2.65

38

87.44

309.50

Valley

262

2.63

38

138.18

1,915.38

 

 

Idaho Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Idaho

17,161

2.72

37

101.61

371.46

 

 

 

 

 

 

Ada

6,821

4.45

22

113.96

421.08

Canyon

3,983

5.99

17

81.54

344.53

Kootenai

1,552

2.65

38

87.44

309.50

Bonneville

676

1.82

55

76.96

201.79

Bannock

562

1.77

57

60.57

128.46

 

 

Idaho Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Idaho

1,135

0

2,322

0

515

3,972

159

2.30

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

238

0

568

0

122

928

72

5.10

2.22

Gem

0

0

58

0

10

68

100

3.67

1.60

Ada

561

0

728

0

194

1,483

103

3.54

1.54

Lincoln

0

0

13

0

0

13

139

2.64

1.15

Kootenai

122

0

234

0

49

405

145

2.53

1.10

 

 

Idaho Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Idaho

1,135

0

2,322

0

515

3,972

159

63.32

148.56

 

 

 

 

 

 

 

 

 

 

Ada

561

0

728

0

194

1,483

103

39.12

130.64

Canyon

238

0

568

0

122

928

72

35.47

118.35

Kootenai

122

0

234

0

49

405

145

125.00

151.55

Bonneville

48

0

92

0

16

156

239

71.43

79.31

Twin Falls

34

0

83

0

14

131

227

138.18

162.00

 

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved