OREGON FORECLOSURE ACTIVITY DECREASES 24 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 11 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – Oregon reported 669 foreclosure filings in July, a 24 percent decrease from the previous month, but still an 11 percent increase from July 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million 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 Oregon foreclosures declined in July, the numbers are still up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state currently holds one of the higher unemployment rates in the country. This is likely contributing to the overall rise.”

 

Oregon ranked 27th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 2,329 households ranked it 30th among the 50 states.

 

Multnomah County leads all in foreclosure activity for July

Multnomah County led the state in foreclosure activity for July, reporting 112 foreclosure filings. Marion County reported the second highest county total, with 81 foreclosure filings. Lane County reported the third highest county total, with 62 foreclosure filings, followed by fourth place Washington County, with 55 foreclosure filings in the foreclosure pipeline. Jackson County reported the fifth highest county total with 51 foreclosure filings.

 

Columbia County posts highest foreclosure rate

Columbia County reported the highest county foreclosure rate in the state for July, with a rate of one foreclosure filing for every 1,124 households — 2.1 times the state average. Yamhill County posting the second highest foreclosure rate, with one foreclosure filing for every 1,211 households — 1.9 times the state average. Josephine County posted the third highest foreclosure rate, with one foreclosure filing for every 1,238 households — 1.9 times the state average. Linn County came in fourth with a foreclosure rate of one foreclosure filing for every 1,255 households — 1.9 times the state average. Polk County rounded out the state’s top five with a rate of one foreclosure filing for every 1,327 households — 1.8 times the state average.

 

State contributes less than 1 percent to nation’s monthly total

Total foreclosure filings in Oregon accounted for less than 1 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. 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.

 

 

                        Oregon Foreclosure Market by County – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Oregon

404

246

0

0

19

669

2,329

0.30

n/a

 

 

 

 

 

 

 

 

 

 

Baker

0

0

0

0

0

0

n/a

0.00

0.00

Benton

2

0

0

0

0

2

17,181

0.04

0.14

Clackamas

33

14

0

0

1

48

3,060

0.23

0.76

Clatsop

3

0

0

0

0

3

6,824

0.10

0.34

Columbia

10

6

0

0

1

17

1,124

0.62

2.07

Coos

11

5

0

0

0

16

1,844

0.38

1.26

Crook

0

1

0

0

0

1

9,408

0.07

0.25

Curry

0

1

0

0

0

1

11,968

0.06

0.19

Deschutes

22

8

0

0

1

31

2,213

0.31

1.05

Douglas

9

11

0

0

0

20

2,248

0.31

1.04

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Hood River

0

1

0

0

0

1

8,477

0.08

0.27

Jackson

31

17

0

0

3

51

1,652

0.42

1.41

Jefferson

2

2

0

0

0

4

2,264

0.31

1.03

Josephine

13

14

0

0

2

29

1,238

0.56

1.88

Klamath

13

4

0

0

0

17

1,763

0.39

1.32

Lake

1

0

0

0

0

1

4,098

0.17

0.57

Lane

26

34

0

0

2

62

2,353

0.29

0.99

Lincoln

5

1

0

0

0

6

4,694

0.15

0.50

Linn

17

19

0

0

0

36

1,255

0.55

1.86

Malheur

0

1

0

0

0

1

11,398

0.06

0.20

Marion

39

41

0

0

1

81

1,426

0.49

1.63

Morrow

0

2

0

0

0

2

2,195

0.32

1.06

Multnomah

85

24

0

0

3

112

2,706

0.26

0.86

Polk

8

11

0

0

1

20

1,327

0.52

1.76

Tillamook

4

2

0

0

0

6

2,835

0.24

0.82

Umatilla

10

4

0

0

2

16

1,798

0.39

1.30

Union

0

0

0

0

0

0

n/a

0.00

0.00

Wasco

0

2

0

0

0

2

5,353

0.13

0.44

Washington

45

8

0

0

2

55

3,581

0.19

0.65

Wheeler

0

0

0

0

0

0

n/a

0.00

0.00

Yamhill

15

13

0

0

0

28

1,211

0.57

1.92

 

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 homes, 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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