OREGON FORECLOSURE ACTIVITY DOWN 4 PERCENT IN JULY

 

 Foreclosure Activity Up 192 Percent From July 2007

 

IRVINE, Calif. – Aug. 29, 2008 – Oregon reported 1,955 properties with foreclosure filings in July, a 4 percent decrease from the previous month, but still a 192 percent increase from July 2007, 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 1.5 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.

 

“The foreclosure crisis has finally arrived in Oregon,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although the state seemed to be insulated for a longer time than most, Oregon is now seeing a jump in foreclosure activity — especially in the year-over-year numbers.”

 

Oregon ranked 24th in the country in total foreclosures reported for July. With one in every 812 households receiving a foreclosure filing, its foreclosure rate ranked 21st among the 50 states.

 

Top five counties responsible for bulk of state’s foreclosure activity

Five Oregon counties accounted for 61 percent of all foreclosure activity in the state for July. Multnomah County reported the highest foreclosure total, reporting 337 properties with foreclosure filings. Washington County documented the second highest foreclosure total, reporting 235 properties with foreclosure filings. Clackamas County reported the third highest foreclosure total, reporting 234 properties with foreclosure filings. Jackson County came in fourth with 201 properties with foreclosure filings. Deschutes County came in fifth with 182 properties with foreclosure filings.

 

Deschutes County posts top foreclosure rate for July

Deschutes County tallied the highest county foreclosure rate in Oregon for July, with one in every 401 households receiving a foreclosure filing for the month — twice the state average. Jackson County posted the state’s second highest foreclosure rate, with one in every 429 households receiving a foreclosure filing during the month. Columbia County posted the third highest foreclosure rate in the state, with one in every 555 households received a foreclosure filing in July.

 

State contributes 1 percent to nation’s foreclosure total in July

Oregon accounted for 1 percent of the 272,171 properties with foreclosure filings reported nationwide in July. The national total represents an increase of almost 8 percent from the previous month and is 55 percent ahead of the total reported for July 2007. One in every 464 U.S. households 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.

 

                   Oregon Foreclosure Market Data by County – July 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X  HH (rate)

/National Average

/State Average

 

 

 

United States

55,601

55,042

57,145

27,088

77,295

272,171

464

n/a

n/a

Oregon

1,307

0

451

0

197

1,955

812

0.57

n/a

 

 

 

 

 

 

 

 

 

Baker

0

0

0

0

0

0

 n/a

0.00

0.00

Benton

4

0

4

0

0

8

4,360

0.11

0.19

Clackamas

186

0

28

0

20

234

638

0.73

1.27

Clatsop

9

0

3

0

0

12

1,726

0.27

0.47

Columbia

22

0

11

0

2

35

555

0.84

1.46

Coos

4

0

7

0

2

13

2,283

0.20

0.36

Crook

0

0

9

0

0

9

1,082

0.43

0.75

Curry

0

0

5

0

0

5

2,428

0.19

0.33

Deschutes

139

0

26

0

17

182

401

1.16

2.03

Douglas

24

0

12

0

3

39

1,164

0.40

0.70

Gilliam

0

0

0

0

0

0

 n/a

0.00

0.00

Grant

0

0

0

0

0

0

 n/a

0.00

0.00

Harney

0

0

0

0

0

0

 n/a

0.00

0.00

Hood River

0

0

1

0

0

1

8,626

0.05

0.09

Jackson

100

0

72

0

29

201

429

1.08

1.89

Jefferson

1

0

8

0

0

9

1,031

0.45

0.79

Josephine

34

0

23

0

6

63

582

0.80

1.39

Klamath

1

0

17

0

5

23

1,325

0.35

0.61

Lake

0

0

1

0

0

1

4,124

0.11

0.20

Lane

91

0

31

0

13

135

1,096

0.42

0.74

Lincoln

0

0

25

0

4

29

985

0.47

0.82

Linn

54

0

12

0

12

78

590

0.79

1.38

Malheur

0

0

3

0

0

3

3,806

0.12

0.21

Marion

103

0

61

0

17

181

647

0.72

1.25

Morrow

0

0

0

0

0

0

 n/a

0.00

0.00

Multnomah

285

0

21

0

31

337

911

0.51

0.89

Polk

16

0

17

0

5

38

713

0.65

1.14

Sherman

0

0

1

0

0

1

953

0.49

0.85

Tillamook

0

0

8

0

1

9

1,930

0.24

0.42

Umatilla

7

0

1

0

3

11

2,636

0.18

0.31

Union

0

0

0

0

0

0

 n/a

0.00

0.00

Wallowa

0

0

0

0

0

0

 n/a

0.00

0.00

Wasco

0

0

5

0

0

5

2,147

0.22

0.38

Washington

186

0

24

0

25

235

857

0.54

0.95

Wheeler

0

0

0

0

0

0

 n/a

0.00

0.00

Yamhill

41

0

15

0

2

58

602

0.77

1.35

 

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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