Oregon Foreclosure Activity Falls in November

Statewide filings down 10 percent from October; down 4 percent from previous year

 

Oregon foreclosure activity fell in November to 2,855 properties with foreclosure filings, down 10 percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is 4 percent behind the level reported in November 2008.

 

“Oregon foreclosures fell in November,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in default notices, which dropped 24 percent for the month. While the state’s unemployment rate is still above the national average, it has been heading downward, and home sales are picking up. If these trends continue, we may see foreclosures continue to decline in the coming months.”

 

Oregon ranked 24th in the country in total foreclosures reported for the month. With one in every 564 housing units receiving a foreclosure filing, its foreclosure rate ranked 14th among the 50 states.

 

Deschutes County posts state’s highest foreclosure rate in November

Deschutes County posted the highest county foreclosure rate in the state for November, with one in every 204 housing units receiving a foreclosure filing — 2.8 times the state average. Yamhill County had the second highest foreclosure rate, with one in every 378 housing units receiving a foreclosure filing — 1.5 times the state average. Jackson County came in third highest, with one in every 395 housing units receiving a foreclosure filing — 1.4 times the state average.

 

Multnomah County led state in total foreclosure filings for November

Multnomah County led all counties, totaling 470 properties with foreclosure filings for the month. Deschutes County was second highest, documenting 372 properties with foreclosure filings. Reporting 356 properties with foreclosure filings for the month, Washington County had the third highest total in the state, while Clackamas County was fourth highest, reporting 290 properties with foreclosure filings for the month.

 

State contributed 1 percent to nation’s foreclosure total in November

Oregon accounted for 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: DefaultNotice 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 received for a property during the month, 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 – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Oregon

35

0

1,877

0

943

2,855

564

0.74

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

3

0

201

0

168

372

204

2.04

2.76

Yamhill

0

0

70

0

24

94

378

1.10

1.49

Jackson

0

0

147

0

74

221

395

1.06

1.43

Jefferson

0

0

12

0

11

23

407

1.02

1.38

Josephine

0

0

56

0

33

89

418

1.00

1.35

 

 

 

Oregon Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Oregon

35

0

1,877

0

943

2,855

564

-9.65

-3.71

 

 

 

 

 

 

 

 

 

 

Multnomah

5

0

346

0

119

470

660

0.63

0.85

Deschutes

3

0

201

0

168

372

204

2.04

2.76

Washington

2

0

247

0

107

356

577

0.72

0.98

Clackamas

2

0

185

0

103

290

523

0.80

1.08

Marion

6

0

148

0

93

247

481

0.87

1.17

 

 

 

 

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