IDAHO FORECLOSURE ACTIVITY INCREASES 19 PERCENT IN SEPTEMBER

Yearly Total Up 220 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Idaho reported 646 foreclosure filings in September, a 19 percent increase from the previous month and 220 percent above the number reported for September 2006, 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 million properties from nearly 2,500 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.

 

“The total number of foreclosure filings in Idaho have more than tripled since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Contributing to this phenomenon is the large number of subprime loans used by buyers which are now resetting to higher, less affordable rates. Even so, the state currently holds the lowest unemployment rate in the country, and home prices are still rising at decent levels, although much lower than when the state’s home prices peaked back in the second quarter of 2006.”

 

Idaho ranked 31st in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 922 households ranked it 17th among the 50 states.

 

Ada County accounts for bulk of state activity

Ada County reported 225 foreclosure filings, the most of any county for the month. Canyon County was second, reporting 142 filings, followed by Kootenai County reporting 59 filings entering some stage of the foreclosure pipeline.

 

Highest foreclosure rate reported in Canyon County

With a rate of one foreclosure filing for every 426 households — 2.2 times the state average and 1.3 times the national average — Canyon County reported the highest county foreclosure rate in the state for September. Bonneville County posted the second highest rate, one foreclosure filing for every 608 households – 1.5 times the state average. Ada County came in third highest with a rate of one foreclosure filing for every 628 households — 1.5 times the state average.

 

State contributes less than 1 percent to nation’s monthly total

Total foreclosure filings in Idaho accounted for less than 1 percent of the 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                  Idaho Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Idaho

322

297

0

0

27

646

922

0.60

n/a

 

 

 

 

 

 

 

 

 

 

Ada

122

91

0

0

12

225

628

0.89

1.47

Adams

0

1

0

0

0

1

2,282

0.24

0.40

Bannock

20

17

0

0

0

37

828

0.67

1.11

Bear Lake

0

0

0

0

0

0

n/a

0.00

0.00

Benewah

0

3

0

0

0

3

1,437

0.39

0.64

Bingham

8

11

0

0

1

20

751

0.74

1.23

Blaine

1

1

0

0

0

2

6,929

0.08

0.13

Boise

0

0

0

0

0

0

 

0.00

0.00

Bonner

5

2

0

0

0

7

2,840

0.20

0.32

Bonneville

29

26

0

0

2

57

608

0.92

1.52

Boundary

0

2

0

0

0

2

2,152

0.26

0.43

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

67

69

0

0

6

142

426

1.31

2.16

Caribou

0

1

0

0

0

1

3,245

0.17

0.28

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

9

0

0

0

9

1,264

0.44

0.73

Franklin

2

1

0

0

0

3

1,405

0.40

0.66

Fremont

0

1

0

0

0

1

7,490

0.07

0.12

Gem

0

1

0

0

0

1

6,426

0.09

0.14

Gooding

0

0

0

0

0

0

 n/a

0.00

0.00

Idaho

0

1

0

0

0

1

7,775

0.07

0.12

Jefferson

4

2

0

0

1

7

1,027

0.54

0.90

Jerome

1

3

0

0

0

4

1,757

0.32

0.52

Kootenai

22

34

0

0

3

59

926

0.60

1.00

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

1

0

0

0

1

1,749

0.32

0.53

Madison

1

0

0

0

0

1

10,412

0.05

0.09

Minidoka

0

0

0

0

0

0

 n/a

0.00

0.00

Nez Perce

6

4

0

0

0

10

1,661

0.34

0.56

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

7

6

0

0

0

13

659

0.85

1.40

Power

2

0

0

0

0

2

1,487

0.37

0.62

Shoshone

1

1

0

0

1

3

2,363

0.24

0.39

Teton

1

0

0

0

0

1

3,693

0.15

0.25

Twin Falls

22

8

0

0

1

31

904

0.62

1.02

Valley

1

1

0

0

0

2

4,566

0.12

0.20

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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