IDAHO FORECLOSURE ACTIVITY UP 17 PERCENT IN FEBRUARY

Activity Increases 129 Percent From February 2008; Rate Ranks in Top 5

 

IRVINE, Calif. – March 27, 2009 – Idaho reported 1,764 properties with foreclosure filings in February, a 17 percent increase from the previous month and 129 percent above the level reported for February 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. With one in every 358 Idaho housing units receiving a foreclosure filing, its foreclosure rate ranked fifth highest in the nation.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 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.

 

“Foreclosure activity in Idaho was up both in February and from this time last year,” said James J. Saccacio, chief executive officer of Realtytrac. “One major contributing factor to the rise in foreclosures is home sales which were down more than 20 percent statewide in 2008.”

 

Although the state’s foreclosure rate ranked among the nation’s highest for the month, its total foreclosure activity for February ranked it 28th among the 50 states.

 

Five counties account for bulk of state foreclosure activity in February

Five Idaho counties accounted for 83 percent of all foreclosure activity in the state during February. Ada County led the way, reporting 697 properties with foreclosure filings for the month. Canyon County was second highest, reporting 473 properties with foreclosure filings. Third highest was Kootenai County, reporting 150 properties with foreclosure filings. Bonneville County came in fourth place, documenting 87 properties with foreclosure filings. Fifth highest total was tallied in Bannock County, where 63 properties with foreclosure filings were reported.

 

Canyon County posts state’s highest foreclosure rate for February

With one in every 141 housing units receiving a foreclosure filing — 2.5 times the state average and three times the national average — Canyon County reported the highest county foreclosure rate in the state for February. Ada County came in second, with one in every 220 housing units receiving a foreclosure filing — 1.6 times the state average and twice the national average. Third highest rate was documented in Teton County, where one in every 336 housing units received a foreclosure filing during the month — 1.1 times the state average and 1.3 times the national average.

 

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

Idaho accounted for one percent of the 290,631 properties with foreclosure filings reported nationwide in February. The national total represented a 6 percent increase in activity from the previous month and was 30 percent ahead of the total reported for February 2008. One in every 440 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 Foreclosure Market Data by County – February 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

54,064

55,509

78,234

28,729

74,095

290,631

440

n/a

n/a

Idaho

1,003

0

669

0

92

1,764

358

1.23

n/a

 

 

 

 

 

 

 

 

 

 

Ada

403

0

216

0

78

697

220

2.00

1.63

Adams

0

0

0

0

0

0

 n/a

0.00

0.00

Bannock

33

0

30

0

0

63

505

0.87

0.71

Bear Lake

0

0

1

0

0

1

3,597

0.12

0.10

Benewah

2

0

1

0

0

3

1,449

0.30

0.25

Bingham

12

0

7

0

1

20

772

0.57

0.46

Blaine

10

0

9

0

0

19

758

0.58

0.47

Boise

0

0

0

0

0

0

 n/a

0.00

0.00

Bonner

14

0

20

0

0

34

584

0.75

0.61

Bonneville

61

0

26

0

0

87

428

1.03

0.84

Boundary

3

0

4

0

0

7

661

0.67

0.54

Butte

0

0

1

0

0

1

1,288

0.34

0.28

Camas

0

0

0

0

0

0

 n/a

0.00

0.00

Canyon

247

0

214

0

12

473

141

3.13

2.54

Caribou

0

0

0

0

0

0

 n/a

0.00

0.00

Cassia

0

0

1

0

0

1

8,128

0.05

0.04

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

0

4

0

0

4

2,981

0.15

0.12

Franklin

3

0

1

0

0

4

1,087

0.40

0.33

Fremont

0

0

2

0

0

2

3,894

0.11

0.09

Gem

0

0

5

0

0

5

1,356

0.32

0.26

Gooding

0

0

3

0

0

3

1,990

0.22

0.18

Idaho

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

10

0

9

0

0

19

412

1.07

0.87

Jerome

6

0

7

0

0

13

565

0.78

0.63

Kootenai

104

0

46

0

0

150

391

1.13

0.91

Latah

0

0

1

0

0

1

15,247

0.03

0.02

Lemhi

0

0

0

0

0

0

 n/a

0.00

0.00

Lewis

0

0

1

0

0

1

1,815

0.24

0.20

Lincoln

0

0

1

0

0

1

1,801

0.24

0.20

Madison

6

0

1

0

0

7

1,562

0.28

0.23

Minidoka

0

0

3

0

0

3

2,528

0.17

0.14

Nez Perce

11

0

11

0

0

22

765

0.58

0.47

Oneida

0

0

0

0

0

0

 n/a

0.00

0.00

Owyhee

0

0

0

0

1

1

4,794

0.09

0.07

Payette

8

0

6

0

0

14

634

0.69

0.56

Power

3

0

1

0

0

4

751

0.59

0.48

Shoshone

3

0

2

0

0

5

1,441

0.31

0.25

Teton

11

0

2

0

0

13

336

1.31

1.06

Twin Falls

43

0

11

0

0

54

552

0.80

0.65

Valley

5

0

15

0

0

20

498

0.88

0.72

Washington

5

0

7

0

0

12

363

1.21

0.99

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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