Oregon Foreclosure Activity Speeds Up in July

Statewide foreclosure filings up 2 percent from June

 

Foreclosure activity in Oregon increased 2 percent in July to 3,916 properties with foreclosure filings, 9 percent above the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Oregon foreclosures climbed slightly in July,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which jumped 10 percent during the month. “The state’s unemployment rate is still one percent above the national average, and its home sales declined further than most states during the first quarter. This has likely contributed to the recent rise.”

 

Oregon ranked 21st in the country in total foreclosures reported for the month. With one in every 416 housing units receiving a foreclosure filing, its foreclosure rate ranked 12th among the 50 states.

 

Deschutes County posts top county foreclosure rate in July

Deschutes County posted the highest foreclosure rate, with one in every 160 housing units receiving a foreclosure filing in July. Jackson County posted the second highest foreclosure rate, with one in every 268 housing units receiving a foreclosure filing during the month. Coming in third was Jefferson County, where one in every 307 housing units received a foreclosure filing in July.

 

Multnomah County dominates state with top foreclosure total for July

Multnomah County led the state in total foreclosure activity, reporting 754 properties with foreclosure filings in July. Deschutes County documented the second highest foreclosure activity, reporting 487 properties with foreclosure filings. Washington County came in third highest, tallying 482 properties with foreclosure filings. Fourth highest was Clackamas County, where 457 properties with foreclosure filings were reported. Jackson County was fifth, reporting 329 properties with foreclosure filings for the month.

 

State contributes 1 percent to nation’s monthly foreclosure total

Oregon accounted for 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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: 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 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Oregon

32

0

2,383

0

1,501

3,916

416

0.95

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

4

0

281

0

202

487

160

2.48

2.60

Jackson

1

0

199

0

129

329

268

1.48

1.55

Jefferson

0

0

19

0

13

32

307

1.29

1.36

Clackamas

10

0

244

0

203

457

335

1.18

1.24

Columbia

1

0

28

0

29

58

342

1.16

1.22

 

 

Oregon Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Oregon

32

0

2,383

0

1,501

3,916

416

1.90

8.63

 

 

 

 

 

 

 

 

 

 

Multnomah

5

0

511

0

238

754

417

0.13

11.21

Deschutes

4

0

281

0

202

487

160

1.67

2.74

Washington

0

0

312

0

170

482

430

3.21

-10.58

Clackamas

10

0

244

0

203

457

335

24.86

19.01

Jackson

1

0

199

0

129

329

268

-7.58

0.61

 

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