OREGON FORECLOSURE ACTIVITY UP 12 PERCENT IN OCTOBER

Foreclosure Activity Up 41 Percent From October 2006

 

IRVINE, Calif. – Nov. 26, 2007 – Oregon reported 1,095 foreclosure filings in October, a 12 percent increase from the previous month, and a 41 percent increase from October 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 27th in the country in total foreclosures reported for October. The state’s foreclosure rate of one foreclosure filing for every 1,423 households ranked it 31st among the 50 states.

 

Multnomah County leads state in foreclosure activity

Multnomah County led the state in foreclosure activity, with 226 foreclosure filings for the month. Clackamas County reported the second highest foreclosure total, with 106 foreclosure filings. Jackson and Lane counties came in third highest, with each reporting 103 foreclosure filings in October. 

 

Polk County posts highest foreclosure rate

Polk County tallied the highest foreclosure rate in Oregon for October, with one foreclosure filing for every 698 households — twice the state average. Jackson County registered the second highest foreclosure rate, with one foreclosure filing for every 818 households — 1.7 times the state average. Deschutes County posted the third highest foreclosure rate, with one foreclosure filing for every 847 households — 1.7 times the state average.

 

State makes small contribution to national total

Total foreclosure filings in Oregon accounted for less than 1 percent of the 224,451 foreclosure filings reported nationwide in October. The national total represents a 2 percent increase from the previous month, and is 94 percent above the total reported for October 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 555 U.S. households for 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 – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

n/a

n/a

Oregon

776

232

0

0

87

1,095

1,423

0.39

n/a

 

 

 

 

 

 

 

 

 

 

Baker

0

0

0

0

0

0

n/a 

0.00

0.00

Benton

5

7

0

0

1

13

2,643

0.21

0.54

Clackamas

84

13

0

0

9

106

1,386

0.40

1.03

Clatsop

3

2

0

0

1

6

3,412

0.16

0.42

Columbia

11

3

0

0

1

15

1,274

0.44

1.12

Coos

15

1

0

0

2

18

1,639

0.34

0.87

Crook

0

1

0

0

0

1

9,408

0.06

0.15

Curry

0

1

0

0

0

1

11,968

0.05

0.12

Deschutes

69

7

0

0

5

81

847

0.66

1.68

Douglas

14

4

0

0

2

20

2,248

0.25

0.63

Gilliam

0

0

0

0

0

0

n/a 

0.00

0.00

Grant

0

1

0

0

0

1

4,161

0.13

0.34

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

67

23

0

0

13

103

818

0.68

1.74

Jefferson

0

0

0

0

1

1

9,056

0.06

0.16

Josephine

26

13

0

0

3

42

855

0.65

1.67

Klamath

9

9

0

0

0

18

1,665

0.33

0.85

Lake

0

0

0

0

0

0

n/a 

0.00

0.00

Lane

66

32

0

0

5

103

1,416

0.39

1.00

Lincoln

10

4

0

0

2

16

1,760

0.32

0.81

Linn

20

6

0

0

3

29

1,558

0.36

0.91

Malheur

1

4

0

0

0

5

2,280

0.24

0.62

Marion

74

20

0

0

3

97

1,191

0.47

1.20

Morrow

0

0

0

0

0

0

n/a 

0.00

0.00

Multnomah

177

30

0

0

19

226

1,341

0.41

1.06

Polk

17

20

0

0

1

38

698

0.79

2.04

Sherman

0

0

0

0

0

0

n/a 

0.00

0.00

Tillamook

3

1

0

0

1

5

3,401

0.16

0.42

Umatilla

16

4

0

0

3

23

1,250

0.44

1.14

Union

0

2

0

0

0

2

5,348

0.10

0.27

Wallowa

0

0

0

0

0

0

n/a 

0.00

0.00

Wasco

0

1

0

0

0

1

10,705

0.05

0.13

Washington

70

14

0

0

10

94

2,095

0.26

0.68

Wheeler

0

0

0

0

0

0

n/a 

0.00

0.00

Yamhill

19

9

0

0

2

30

1,130

0.49

1.26

 

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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