OREGON FORECLOSURE ACTIVITY UP 12 PERCENT IN FEBRUARY

Yearly Foreclosure Activity Up 118 Percent From February 2007

 

IRVINE, Calif. – March 26, 2008 – Oregon reported 1,584 properties with foreclosure filings in February, a 12 percent increase from the previous month, and a 118 percent increase from February 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 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.

 

Oregon foreclosures are more than twice what they were this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home sales decline nearly double the rate of the national average last year. This is very likely contributing to the overall rise.”

 

Oregon ranked 25th in the country in total properties with foreclosure filings reported in February. One in every 984 Oregon households received a foreclosure filing in February, ranking the state 25th among the 50 states.

 

Multnomah County accounts for bulk of state activity

Multnomah County reported 288 properties with foreclosure filings, the most of any county for the month. Clackamas County was second, reporting 165 properties with foreclosure filings, followed by Marion County with 166 properties with foreclosure filings. Deschutes County came in fourth, reporting 157 properties with foreclosure filings, and Washington County was fifth with 151 properties with foreclosure filings.

 

Deschutes County post highest foreclosure rate

Deschutes County reported the highest foreclosure rate in Oregon for February, one in every 437 households receiving a foreclosure filing — 2.3 times the state average. Josephine County reported the second highest foreclosure rate, one in every 492 households receiving a foreclosure filing — twice the state average. Jackson County posted the third highest foreclosure rate, one in every 691 households receiving a foreclosure filing. Marion County was fourth, reporting one in every 696 households receiving a foreclosure filing.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Oregon accounted for 1 percent of the 223,651 foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, and is 60 percent above the total reported for February 2007. One in every 557 U.S. households received a foreclosure filing during 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 – February 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

Oregon

1,028

444

0

0

112

1,584

984

0.57

n/a

 

 

 

 

 

 

 

 

 

 

Baker

0

1

0

0

0

1

8,661

0.06

0.11

Benton

15

1

0

0

0

16

2,148

0.26

0.46

Clackamas

141

16

0

0

8

165

890

0.63

1.11

Clatsop

6

5

0

0

3

14

1,462

0.38

0.67

Columbia

11

12

0

0

2

25

764

0.73

1.29

Coos

9

4

0

0

0

13

2,270

0.25

0.43

Crook

0

3

0

0

0

3

3,136

0.18

0.31

Curry

0

2

0

0

0

2

5,984

0.09

0.16

Deschutes

105

30

0

0

22

157

437

1.27

2.25

Douglas

14

10

0

0

7

31

1,450

0.38

0.68

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

59

55

0

0

8

122

691

0.81

1.42

Jefferson

0

3

0

0

1

4

2,264

0.25

0.43

Josephine

54

16

0

0

3

73

492

1.13

2.00

Klamath

3

6

0

0

0

9

3,330

0.17

0.30

Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Lane

63

75

0

0

5

143

1,020

0.55

0.96

Lincoln

5

14

0

0

2

21

1,341

0.42

0.73

Linn

36

22

0

0

3

61

741

0.75

1.33

Malheur

0

5

0

0

0

5

2,280

0.24

0.43

Marion

87

61

0

0

18

166

696

0.80

1.41

Morrow

0

3

0

0

0

3

1,463

0.38

0.67

Multnomah

247

26

0

0

15

288

1,052

0.53

0.93

Polk

19

15

0

0

2

36

737

0.76

1.33

Sherman

0

0

0

0

0

0

 n/a

0.00

0.00

Tillamook

0

3

0

0

0

3

5,669

0.10

0.17

Umatilla

14

4

0

0

1

19

1,514

0.37

0.65

Union

0

2

0

0

0

2

5,348

0.10

0.18

Wallowa

0

0

0

0

0

0

 n/a

0.00

0.00

Wasco

0

4

0

0

0

4

2,676

0.21

0.37

Washington

119

22

0

0

10

151

1,304

0.43

0.75

Wheeler

0

0

0

0

0

0

 n/a

0.00

0.00

Yamhill

21

24

0

0

2

47

721

0.77

1.36

               

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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