Idaho Foreclosure Activity Rises in August to Triple Last Year’s Level

Foreclosure activity in Idaho rose 5 percent in August to 2,620 properties with foreclosure filings, up 239 percent from the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity hiked up again in Idaho in August to more than triple the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment is now at 8.9 percent within the Gem State — the highest level of joblessness reported in more than two decades — making it all the more difficult for out-of-work residents to find the jobs they need to keep their homes.”

 

One in every 241 Idaho housing units received a foreclosure filing in August, the sixth highest foreclosure rate in the nation.

 

Washington County posts state’s top foreclosure rate in August

Washington County posted the highest county foreclosure rate in the state for August, with one in every 114 housing units receiving a foreclosure filing — 3.1 times the national average and 2.1 times the state average. Canyon County had the second highest foreclosure rate, with one in every 115 housing units receiving a foreclosure filing during the month — 3.1 times the national average and 2.1 times the state average. Teton County posted the third highest rate, where one in every 151 housing units received a foreclosure filing — 2.4 times the national average and 1.6 times the state average.

 

Ada County leads the state in foreclosure totals for August

Ada County tallied the highest activity level, tallying 951 properties with foreclosure filings for the month. Canyon County had the second highest total of foreclosure filings, documenting 578 properties with foreclosure filings. Reporting 219 properties with foreclosure filings for the month, Kootenai County reported the third highest total in the state. Bannock County was fourth highest, reporting 164 properties with foreclosure filings, while the fifth highest total was in Bonneville County, where 100 properties with foreclosure filings were reported for the month.

 

State a minor contributor to the nation’s foreclosure activity in August

Idaho accounted for less than 1 percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

Idaho

1,424

0

1,101

0

95

2,620

241

1.48

n/a

 

 

 

 

 

 

 

 

 

 

Washington

26

0

12

0

0

38

114

3.12

2.10

Canyon

324

0

234

0

20

578

115

3.10

2.09

Teton

16

0

10

0

3

29

151

2.37

1.60

Blaine

56

0

37

0

0

93

155

2.30

1.56

Ada

589

0

315

0

47

951

161

2.21

1.50

 

 

Idaho Top Foreclosure Totals by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

Idaho

1,424

0

1,101

0

95

2,620

241

5.18

239.38

 

 

 

 

 

 

 

 

 

 

Ada

589

0

315

0

47

951

161

-11.45

204.81

Canyon

324

0

234

0

20

578

115

5.28

196.41

Kootenai

95

0

118

0

6

219

268

5.80

143.33

Bannock

89

0

75

0

0

164

194

121.62

1,540.00

Bonneville

39

0

58

0

3

100

372

17.65

100.00

 

 

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