IDAHO FORECLOSURE ACTIVITY INCREASES 5 PERCENT IN FEBRUARY

Yearly Filings Up 162 Percent From February 2007

 

IRVINE, Calif. – Mar. 26, 2008 – Idaho reported 769 properties with foreclosure filings in February, a 5 percent increase from the previous month and 162 percent above the level reported for February 2007, 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.

 

Idaho foreclosures were up for both February and this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Like many states, Idaho has experienced a sharp decline in home prices and manufacturing jobs were down substantially last year. These factors have contributed to the overall rise we’re seeing in foreclosures.”

 

Idaho ranked 29th in the country in total foreclosures for the month. With a foreclosure rate of one in every 774 households receiving a foreclosure filing, the state ranked 20th among the 50 states.

 

Ada County reports highest foreclosure activity for the month

Ada County reported 286 properties with foreclosure filings, the most of any county for the month. Canyon County was second, reporting 212 properties with foreclosure filings, followed by Kootenai County with 55 properties with foreclosure filings. Bannock County came in fourth, reporting 45 properties with foreclosure filings, followed by Twin Falls County reporting 32 properties with foreclosure filings.

 

Highest foreclosure rate reported in Canyon County

With a rate of one in every 285 households receiving a foreclosure filing — 2.7 times the state average and twice the national average — Canyon County reported the highest county foreclosure rate in the state for February. Second was Ada County where one in every 494 households received a foreclosure filing — 1.6 times the state average and 1.1 times the national average, followed by Valley County where one in every 652 households received a foreclosure filing – 1.2 times the state average. Fourth was Bannock County where one in every 681 households received a foreclosure filing, followed by Twin Falls County where one in every 876 households received a foreclosure filing.

 

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

Total foreclosure filings in Idaho accounted for 1 percent of the 223,651 foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, and is 60 percent above the total reported for February 2007. The nation’s foreclosure rate increased to one in every 557 U.S. households receiving a foreclosure filing 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 – February 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

Idaho

402

326

0

0

41

769

774

0.72

n/a

 

 

 

 

 

 

 

 

 

 

Ada

150

118

0

0

18

286

494

1.13

1.57

Adams

0

0

0

0

0

0

 n/a

0.00

0.00

Bannock

21

21

0

0

3

45

681

0.82

1.14

Bear Lake

0

1

0

0

0

1

3,581

0.16

0.22

Benewah

0

0

0

0

0

0

 n/a

0.00

0.00

Bingham

9

2

0

0

1

12

1,252

0.44

0.62

Blaine

6

4

0

0

1

11

1,260

0.44

0.61

Boise

0

2

0

0

0

2

2,396

0.23

0.32

Bonner

15

2

0

0

0

17

1,169

0.48

0.66

Bonneville

10

19

0

0

2

31

1,118

0.50

0.69

Boundary

2

0

0

0

0

2

2,152

0.26

0.36

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

94

108

0

0

10

212

285

1.95

2.71

Caribou

0

0

0

0

0

0

 n/a

0.00

0.00

Cassia

0

1

0

0

0

1

8,047

0.07

0.10

Clark

0

0

0

0

0

0

 n/a

0.00

0.00

Clearwater

0

1

0

0

0

1

4,268

0.13

0.18

Custer

0

1

0

0

0

1

3,042

0.18

0.25

Elmore

0

3

0

0

0

3

3,791

0.15

0.20

Franklin

1

0

0

0

0

1

4,215

0.13

0.18

Fremont

4

3

0

0

0

7

1,070

0.52

0.72

Gem

0

3

0

0

0

3

2,142

0.26

0.36

Gooding

0

2

0

0

0

2

2,917

0.19

0.27

Idaho

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

1

1

0

0

0

2

3,595

0.15

0.22

Jerome

4

1

0

0

0

5

1,406

0.40

0.55

Kootenai

48

3

0

0

4

55

994

0.56

0.78

Latah

0

1

0

0

0

1

14,669

0.04

0.05

Lemhi

0

2

0

0

0

2

2,184

0.25

0.35

Lewis

0

1

0

0

0

1

1,814

0.31

0.43

Lincoln

0

1

0

0

0

1

1,749

0.32

0.44

Madison

0

1

0

0

0

1

10,412

0.05

0.07

Minidoka

0

0

0

0

0

0

 n/a

0.00

0.00

Nez Perce

7

4

0

0

0

11

1,510

0.37

0.51

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

1

2

0

0

0

3

2,854

0.20

0.27

Power

1

0

0

0

0

1

2,973

0.19

0.26

Shoshone

0

1

0

0

0

1

7,089

0.08

0.11

Teton

0

1

0

0

0

1

3,693

0.15

0.21

Twin Falls

17

13

0

0

2

32

876

0.64

0.88

Valley

11

3

0

0

0

14

652

0.85

1.19

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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