OREGON FORECLOSURE ACTIVITY DOWN 6 PERCENT IN SEPTEMBER

Yearly Total Up 54 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Oregon reported 980 foreclosure filings in September, a 6 percent decrease from the previous month, but still a 54 percent increase from September 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 have decreased in September, they are up more than 50 percent since this time last year,” said James J. Saccio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate is currently well above the national average. 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 1,590 households ranked it 28th among the 50 states.

 

Multnomah reports biggest foreclosure total

Multnomah County reported 146 foreclosure filings, the most of any county for the month. Lane and Washington Counties posted the second highest foreclosure total, with each county reporting 100 foreclosure filings for the month. Jackson County posted the third highest foreclosure total, reporting 92 foreclosure filings for the month.

 

Columbia County posts highest foreclosure rate

Columbia County reported the highest foreclosure rate in Oregon for September, with one foreclosure filing for every 735 households — 2.2 times the state average. Polk County posted the second highest foreclosure rate, with one foreclosure filing for every 758 households — 2.1 times the state average. Klamath County posted the third highest foreclosure rate, with one foreclosure filing for every 810 households — twice 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 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 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 – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Oregon

665

270

0

0

45

980

1,590

0.35

n/a

 

 

 

 

 

 

 

 

 

 

Baker

0

0

0

0

0

0

n/a

0.00

0.00

Benton

7

2

0

0

0

9

3,818

0.15

0.41

Clackamas

80

17

0

0

2

99

1,484

0.38

1.07

Clatsop

3

2

0

0

1

6

3,412

0.16

0.46

Columbia

15

10

0

0

1

26

735

0.76

2.16

Coos

8

3

0

0

2

13

2,270

0.25

0.70

Crook

0

2

0

0

0

2

4,704

0.12

0.33

Curry

0

1

0

0

0

1

11,968

0.05

0.13

Deschutes

39

18

0

0

3

60

1,143

0.49

1.39

Douglas

23

11

0

0

2

36

1,249

0.45

1.27

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

0

0

0

0

n/a

0.00

0.00

Jackson

52

31

0

0

9

92

916

0.61

1.73

Jefferson

0

3

0

0

0

3

3,019

0.18

0.52

Josephine

11

6

0

0

5

22

1,632

0.34

0.97

Klamath

30

7

0

0

0

37

810

0.69

1.96

Lake

0

0

0

0

0

0

n/a

0.00

0.00

Lane

59

38

0

0

3

100

1,459

0.38

1.09

Lincoln

5

4

0

0

1

10

2,816

0.20

0.56

Linn

20

10

0

0

1

31

1,458

0.38

1.09

Malheur

0

3

0

0

0

3

3,799

0.15

0.41

Marion

52

38

0

0

3

93

1,242

0.45

1.28

Morrow

0

0

0

0

0

0

n/a

0.00

0.00

Multnomah

118

19

0

0

9

146

2,076

0.27

0.76

Polk

23

12

0

0

0

35

758

0.73

2.09

Sherman

0

0

0

0

0

0

n/a

0.00

0.00

Tillamook

5

0

0

0

0

5

3,401

0.16

0.46

Umatilla

14

2

0

0

1

17

1,692

0.33

0.94

Union

0

4

0

0

0

4

2,674

0.21

0.59

Wallowa

0

0

0

0

0

0

n/a

0.00

0.00

Wasco

0

4

0

0

0

4

2,676

0.21

0.59

Washington

86

13

0

0

1

100

1,970

0.28

0.80

Wheeler

0

0

0

0

0

0

n/a

0.00

0.00

Yamhill

15

10

0

0

1

26

1,304

0.43

1.21

 

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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