IDAHO FORECLOSURES INCREASE 199 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 11 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – Idaho documented 239 new foreclosure filings in January, a 199 percent increase from the previous month, but an 11 percent decrease from January 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 Idaho foreclosures have nearly tripled in January, the numbers are actually down from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “After reaching a yearly low in December, Idaho foreclosures seem to be returning to their normal monthly range. Statistics show that the state’s unemployment rate was significantly lower than the national average in December. This — in addition to the high levels of home price appreciation throughout the state — has likely contributed to the overall decline.”

 

Idaho ranked 36th in the country in total foreclosures reported for January. The state’s foreclosure rate of one new foreclosure filing for every 2,200 households ranked 28th among the 50 states.

 

Three counties account for largest share of state’s foreclosure activity  

Three counties accounted for 81 percent of all foreclosures in Idaho for January. Ada County documented the largest share of Idaho’s foreclosure activity in January, with 124 properties entering some stage of the foreclosure process during the month. Kootenai County reported the second largest share of foreclosure activity, with 49 properties in some stage of the foreclosure process. Bannock County documented the third largest share of foreclosure activity, with 21 properties in the foreclosure pipeline.

 

Ada County leads state in foreclosure rate

Ada County posted the highest foreclosure rate in Idaho for January, with one new foreclosure filing for every 940 households — 2.3 times the state average. Kootenai County registered the second highest foreclosure rate, with one new foreclosure filing for every 951 households — 2.3 the state average. Bannock County posted the third highest foreclosure rate, with one new foreclosure filing for every 1,386 households — 1.6 times the state average.

 

State makes minor contribution to national total

Idaho’s foreclosure activity accounted for less than 1 percent of the 130,511 properties entering some stage of foreclosure nationwide in January. The national total represents a 19 percent increase in activity from the 109,652 foreclosure filings reported in December. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 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: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Idaho

1

230

0

0

8

239

2,200

0.40

n/a

 

 

 

 

 

 

 

 

 

 

Ada

1

122

0

0

1

124

940

0.94

2.34

Adams

0

1

0

0

0

1

1,982

0.45

1.11

Bannock

0

20

0

0

1

21

1,386

0.64

1.59

Bear Lake

0

0

0

0

0

0

n/a

0.00

0.00

Benewah

0

0

0

0

0

0

n/a

0.00

0.00

Bingham

0

1

0

0

0

1

14,303

0.06

0.15

Blaine

0

0

0

0

0

0

n/a

0.00

0.00

Boise

0

0

0

0

0

0

n/a

0.00

0.00

Bonner

0

8

0

0

0

8

2,456

0.36

0.90

Bonneville

0

7

0

0

2

9

3,387

0.26

0.65

Boundary

0

0

0

0

0

0

n/a

0.00

0.00

Canyon

0

11

0

0

4

15

3,198

0.28

0.69

Clearwater

0

0

0

0

0

0

n/a

0.00

0.00

Elmore

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

2

0

0

0

2

1,936

0.46

1.14

Gem

0

0

0

0

0

0

n/a

0.00

0.00

Idaho

0

0

0

0

0

0

n/a

0.00

0.00

Jerome

0

1

0

0

0

1

6,713

0.13

0.33

Kootenai

0

49

0

0

0

49

951

0.93

2.31

Latah

0

2

0

0

0

2

6,919

0.13

0.32

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Nez Perce

0

3

0

0

0

3

5,401

0.16

0.41

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

0

0

0

0

0

0

n/a

0.00

0.00

Power

0

1

0

0

0

1

2,844

0.31

0.77

Shoshone

0

0

0

0

0

0

n/a

0.00

0.00

Teton

0

0

0

0

0

0

n/a

0.00

0.00

Twin Falls

0

1

0

0

0

1

25,595

0.03

0.09

Valley

0

1

0

0

0

1

8,084

0.11

0.27

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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