Oregon Foreclosure Activity Drops Slightly in August

Foreclosure activity in Oregon fell 1 percent in August to 3,553 properties with foreclosure filings, but was still up 92 percent from the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity decreased slightly in Oregon between July and August, though it remained nearly double the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Factoring into the state’s foreclosure concerns is its rising rate of unemployment, which at 12.2 percent, is the fourth highest in the nation.”

 

One in every 453 Oregon housing units received a foreclosure filing in August, the 15th highest foreclosure rate in the nation.

 

Deschutes County posts state’s top foreclosure rate in August

Deschutes County posted the highest county foreclosure rate in Oregon for August, with one in every 170 housing units receiving a foreclosure filing — 2.7 times the state average. Jackson County had the second highest foreclosure rate, with one in every 261 housing units receiving a foreclosure filing during the month — 1.7 times the state average. Josephine County posted the third highest foreclosure rate, where one in every 329 housing units received a foreclosure filing — 1.4 times the state average.

 

Multnomah County leads the state in foreclosure totals for August

Multnomah County tallied the highest activity level, tallying 671 properties with foreclosure filings for the month. Deschutes County had the second highest total, documenting 446 properties with foreclosure filings. Reporting 418 properties with foreclosure filings for the month, Clackamas County reported the third highest total in the state. Washington County was fourth highest, reporting 391 properties with foreclosure filings, while the fifth highest total was in Jackson County, where 334 properties with foreclosure filings were reported for the month.

 

State a minor contributor to the nation’s foreclosure activity in August

Oregon accounted for 11 percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 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.

 

 

Oregon Top Foreclosure Rates By County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

Oregon

64

2

2,522

0

965

3,553

453

0.79

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

6

0

302

0

138

446

170

2.09

2.66

Jackson

6

0

214

0

114

334

261

1.37

1.73

Josephine

5

0

78

0

30

113

329

1.08

1.38

Clackamas

22

0

290

0

106

418

363

0.98

1.25

Columbia

1

0

39

0

14

54

364

0.98

1.24

 

 

Oregon Top Foreclosure Totals by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

Oregon

64

2

2,522

0

965

3,553

453

-1.44

91.95

 

 

 

 

 

 

 

 

 

 

Multnomah

2

0

523

0

146

671

463

-1.03

89.55

Deschutes

6

0

302

0

138

446

170

-5.91

111.37

Clackamas

22

0

290

0

106

418

363

8.85

117.71

Washington

4

2

305

0

80

391

525

-27.46

66.38

Jackson

6

0

214

0

114

334

261

2.14

67.84

 

 

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