OREGON FORECLOSURE ACTIVITY UP 12 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Activity Up 55 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 19, 2007 – Oregon reported 1,222 foreclosure filings in November, a 12 percent increase from the previous month, and a 55 percent increase from November 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.

 

Oregon’s employment growth continues to flatten and personal bankruptcies within the state are on the rise,” said James J. Saccacio, chief executive officer of RealtyTrac. “Both of these factors are likely contributors to the state’s continued increase in foreclosure activity.”

 

Oregon ranked 24th in the country in total foreclosures reported for November. The state’s foreclosure rate of one foreclosure filing for every 1,275 households ranked it 25th among the 50 states.

 

Multnomah County leads state in foreclosure activity

Multnomah County reported the highest foreclosure total in Oregon for November, with 193 foreclosure filings for the month. Washington County reported the second highest state total, with 150 foreclosure filings. Lane County posted the third highest foreclosure total, with 148 foreclosure filings. Marion County had the fourth highest foreclosure total, with 114 filings entering some part of the foreclosure pipeline.

 

Polk County posts highest foreclosure rate for November

Polk County tallied the highest foreclosure rate in Oregon for November, one foreclosure filing for every 681 households — 1.9 times the state average. Josephine County registered the second highest foreclosure rate, one foreclosure filing for every 704 households — 1.8 times the state average. Yamhill County posted the third highest foreclosure rate, one foreclosure filing for every 788 households — 1.6 times the state average.

 

State makes a minor contribution to national total

Total foreclosure filings in Oregon accounted for less than 1 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represents a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Oregon

809

338

0

0

75

1,222

1,275

0.48

n/a

 

 

 

 

 

 

 

 

 

Baker

0

1

0

0

0

1

8,661

0.07

0.15

Benton

7

1

0

0

1

9

3,818

0.16

0.33

Clackamas

89

10

0

0

11

110

1,335

0.46

0.96

Clatsop

4

5

0

0

0

9

2,275

0.27

0.56

Columbia

8

5

0

0

3

16

1,194

0.52

1.07

Coos

8

4

0

0

1

13

2,270

0.27

0.56

Crook

0

1

0

0

0

1

9,408

0.07

0.14

Curry

0

2

0

0

0

2

5,984

0.10

0.21

Deschutes

49

22

0

0

7

78

880

0.70

1.45

Douglas

19

6

0

0

3

28

1,606

0.38

0.79

Gilliam

0

0

0

0

0

0

n/a

0.00

0.00

Grant

0

1

0

0

0

1

4,161

0.15

0.31

Harney

0

1

0

0

0

1

3,571

0.17

0.36

Hood River

0

0

0

0

0

0

n/a

0.00

0.00

Jackson

50

31

0

0

7

88

957

0.64

1.33

Jefferson

0

0

0

0

0

0

n/a

0.00

0.00

Josephine

37

13

0

0

1

51

704

0.88

1.81

Klamath

18

9

0

0

2

29

1,034

0.60

1.23

Lake

0

0

0

0

0

0

n/a

0.00

0.00

Lane

73

69

0

0

6

148

986

0.63

1.29

Lincoln

7

13

0

0

2

22

1,280

0.48

1.00

Linn

30

19

0

0

4

53

853

0.72

1.50

Malheur

0

0

0

0

0

0

n/a

0.00

0.00

Marion

78

30

0

0

6

114

1,013

0.61

1.26

Morrow

0

0

0

0

0

0

n/a

0.00

0.00

Multnomah

160

23

0

0

10

193

1,570

0.39

0.81

Polk

21

16

0

0

2

39

681

0.91

1.87

Sherman

0

0

0

0

0

0

n/a

0.00

0.00

Tillamook

4

2

0

0

0

6

2,835

0.22

0.45

Umatilla

12

2

0

0

0

14

2,054

0.30

0.62

Union

0

0

0

0

0

0

n/a

0.00

0.00

Wallowa

0

0

0

0

0

0

n/a

0.00

0.00

Wasco

0

3

0

0

0

3

3,568

0.17

0.36

Washington

115

29

0

0

6

150

1,313

0.47

0.97

Wheeler

0

0

0

0

0

0

n/a

0.00

0.00

Yamhill

20

20

0

0

3

43

788

0.78

1.62

 

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 construction properties, 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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