IDAHO FORECLOSURES DECREASE 23 PERCENT IN FEBRUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 5 Percent From a Year Ago

 

IRVINE, Calif. – March 26, 2007 – Idaho reported 293 foreclosure filings in February, a 23 percent decrease from the previous month, but still a 5 percent increase from February 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 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.

 

Although up slightly from this time last year, Idaho foreclosures decreased significantly in February,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home price appreciation rate was more than twice that of the national average in 2006. This, in addition to a low unemployment rate, is likely contributing to the recent decline.”

 

Idaho ranked 37th in the country in total foreclosures for February. The state’s foreclosure rate of one foreclosure filing for every 1,795 households ranks it 24th among the 50 states.

 

Ada County accounts for majority of state total

Ada County reported the highest county total, with 124 foreclosure filings for the month. Canyon County came in second, reporting 61 foreclosure filings followed by Bannock County with 30 foreclosure filings.

 

Franklin County reports highest foreclosure rate in state

Franklin County tallied the state’s highest foreclosure rate for February, reporting one foreclosure filing for every 774 households — 2.3 times the state average and 1.1 times the national average. Canyon County reported the second highest rate in the state, with one foreclosure filing for every 786 households — 2.3 times the state average and 1.1 times the national average. Ada County reported the third highest rate, with one foreclosure filing for every 940 households — 1.9 times the state average.

 

State contributes less than 1 percent to national total

Total foreclosure filings in Idaho accounted for less than 1 percent of the 130,786 filings nationwide in February. The national total was down 4 percent from the previous month, but still up 12 percent from February 2006. The nation’s foreclosure rate increased slightly to one foreclosure filing for every 884 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

29,662

47,127

9,404

22,479

22,114

130,786

884

n/a

n/a

Idaho

141

140

0

0

12

293

1,795

0.49

n/a

 

 

 

 

 

 

 

 

 

 

Ada

65

55

0

0

4

124

940

0.94

1.91

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Bannock

17

9

0

0

4

30

970

0.91

1.85

Benewah

0

0

0

0

0

0

n/a

0.00

0.00

Bingham

0

2

0

0

0

2

7,152

0.1

0.25

Boise

0

0

0

0

0

0

n/a

0.00

0.00

Bonner

0

1

0

0

1

2

9,823

0.09

0.18

Bonneville

11

16

0

0

0

27

1,129

0.78

1.59

Boundary

0

0

0

0

0

0

n/a

0.00

0.00

Canyon

44

16

0

0

1

61

786

1.12

2.28

Elmore

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

2

2

0

0

1

5

774

1.14

2.31

Gem

0

1

0

0

0

1

5,888

0.15

0.30

Idaho

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

0

2

0

0

0

2

3,144

0.28

0.57

Jerome

0

1

0

0

1

2

3,357

0.26

0.53

Kootenai

0

29

0

0

0

29

1,607

0.55

1.11

Lemhi

2

0

0

0

0

2

2,077

0.42

0.86

Nez Perce

0

4

0

0

0

4

4,051

0.21

0.44

Owyhee

0

1

0

0

0

1

4,452

0.19

0.40

Payette

0

0

0

0

0

0

n/a

0.00

0.00

Shoshone

0

0

0

0

0

0

n/a

0.00

0.00

Twin Falls

0

1

0

0

0

1

25,595

0.03

0.07

Valley

0

0

0

0

0

0

n/a

0.00

0.00

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 construction properties, 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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