Idaho Foreclosures Fall for the Month of October

Statewide filings down 2 percent from September; rate ranks #5 nationally

 

Idaho reported 2,471 properties with foreclosure filings in October, down 2 percent from the previous month, but still 111 percent above the level reported in October 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 255 Idaho housing units received a foreclosure filing in October, the fifth highest foreclosure rate in the nation.

 

“Even with the small bit of relief seen in October, Idaho’s level of foreclosure activity remains more than double what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline in foreclosure activity came in the number of properties going back to the bank as REOs, which declined 52 percent for the month, but was still 240 percent above the level from a year ago.”

 

Canyon County posts state’s top foreclosure rate in October

With one in every 109 housing units receiving a foreclosure filing — 3.5 times the national average and 2.4 times the state average — Canyon County posted the highest county foreclosure rate in the state for October. Ada County ranked second, with one in every 157 housing units receiving a foreclosure filing — 2.5 times the national average and 1.6 times the state average. Blaine County had the third highest rate, with one in every 173 housing units receiving a foreclosure filing — 2.2 times the national average and 1.5 times the state average. Fourth highest foreclosure rate was in Teton County, where one in every 243 housing units received a foreclosure filing during the month — 1.6 times the national average and 1.1 times the state average. Shoshone County had the fifth highest total, reporting one in every 277 housing units receiving a foreclosure filing — 1.4 times the national average.

 

Ada County tops state in foreclosure total for October

Ada County led all counties, totaling 976 properties with foreclosure filings for October. Canyon County was second highest, documenting 611 properties with foreclosure filings. Reporting 211 properties with foreclosure filings for the month, Kootenai County was third highest in the state. Twin Falls County came in fourth, reporting 93 properties with foreclosure filings, while the fifth highest total was in Blaine County, where 83 properties with foreclosure filings were reported for the month.

 

State a minor contributor to nation’s foreclosure activity in October

Idaho accounted for less than 1 percent of the 332,292 properties with foreclosure filings reported nationwide in October. Total U.S. activity declined 3 percent from the previous month but was still 19 percent ahead of October 2008. One in every 385 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 – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

n/a

n/a

Idaho

1,179

0

1,122

0

170

2,471

255

1.51

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

309

0

247

0

55

611

109

3.53

2.35

Ada

409

0

504

0

63

976

157

2.45

1.63

Blaine

22

0

59

0

2

83

173

2.22

1.47

Teton

11

0

6

0

1

18

243

1.59

1.05

Shoshone

13

0

11

0

2

26

277

1.39

0.92

 

 

Idaho Top Foreclosure Totals by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 09

% Chg Oct 08

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

-3.30

18.86

Idaho

1,179

0

1,122

0

170

2,471

255

-2.29

110.66

 

 

 

 

 

 

 

 

 

 

Ada

409

0

504

0

63

976

157

-0.51

128.04

Canyon

309

0

247

0

55

611

109

-12.34

84.59

Kootenai

102

0

99

0

10

211

278

-24.91

77.31

Twin Falls

67

0

23

0

3

93

320

10.71

210.00

Blaine

22

0

59

0

2

83

173

245.83

492.86

 

 

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