OREGON FORECLOSURE ACTIVITY UP 30 PERCENT IN JUNE

IRVINE, Calif. – July 28, 2008 – Foreclosure filings were reported on 2,047 Oregon properties in June, a 30 percent increase from the previous month, and 133 percent above the level reported for June 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 1.5 million properties from over 2,200 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.

 

“For the first time in decades, Oregon’s unemployment rate rose in June to match that of the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “With the state’s economy taking this kind of hit, it naturally follows that foreclosure activity is also on the rise.”

 

Oregon ranked 22nd in the country in total properties with foreclosure filings reported for June. One in every 775 Oregon households received a foreclosure filing during the month, ranking 17th among the 50 states.

 

Multnomah County leads state in foreclosure activity for June

Multnomah County led Oregon in foreclosure activity in June, reporting 516 properties with foreclosure filings. Washington County posted the second highest foreclosure total, reporting 267 properties with foreclosure filings. Clackamas County registered the third highest foreclosure total, reporting 265 properties with foreclosure filings. Deschutes County came in fourth, reporting 176 properties with foreclosure filings, followed by Marion County, which reported 161 properties with foreclosure filings for the month.

 

Deschutes County posts state’s highest foreclosure rate in June

Deschutes County posted the highest foreclosure rate in Oregon for June, with one in every 414 households receiving a foreclosure filing. Clackamas County registered the second highest foreclosure rate, with one in every 563 households receiving a foreclosure filing. Multnomah County had the third highest foreclosure rate, with one in every 595 households receiving a foreclosure filing. Yamhill County documented the fourth highest foreclosure rate, with one in every 623 households receiving a foreclosure filing during the month. Jackson County came in fifth place, with one in every 624 households receiving a foreclosure filing in June.

 

State a minor contributor to nation’s foreclosure total in June

Oregon accounted for less than 1 percent of the 252,363 properties with foreclosure filings reported nationwide in June. The national total represents a decrease of more than 3 percent from the previous month but is still 53 percent ahead of the total reported for June 2007. One in every 501 U.S. households received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 Foreclosure Market Data by County – June 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

53,544

48,996

53,904

24,356

71,563

252,363

501

n/a

n/a

Oregon

938

0

953

0

156

2,047

775

0.65

n/a

 

 

 

 

 

 

 

 

 

 

Baker

0

0

2

0

0

2

4,350

0.12

0.18

Benton

4

0

8

0

0

12

2,907

0.17

0.27

Clackamas

83

0

166

0

16

265

563

0.89

1.38

Clatsop

7

0

3

0

0

10

2,071

0.24

0.37

Columbia

14

0

6

0

3

23

845

0.59

0.92

Coos

9

0

6

0

4

19

1,562

0.32

0.50

Crook

0

0

5

0

1

6

1,623

0.31

0.48

Curry

0

0

1

0

1

2

6,069

0.08

0.13

Deschutes

128

0

34

0

14

176

414

1.21

1.87

Douglas

28

0

14

0

4

46

987

0.51

0.79

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

1

0

0

1

8,626

0.06

0.09

Jackson

71

0

49

0

18

138

624

0.80

1.24

Jefferson

0

0

0

0

0

0

n/a

0.00

0.00

Josephine

33

0

8

0

3

44

833

0.60

0.93

Klamath

0

0

20

0

5

25

1,219

0.41

0.64

Lake

0

0

1

0

0

1

4,124

0.12

0.19

Lane

81

0

48

0

16

145

1,021

0.49

0.76

Lincoln

0

0

19

0

2

21

1,360

0.37

0.57

Linn

29

0

15

0

4

48

959

0.52

0.81

Malheur

0

0

1

0

2

3

3,806

0.13

0.20

Marion

93

0

62

0

6

161

728

0.69

1.07

Morrow

0

0

1

0

0

1

4,394

0.11

0.18

Multnomah

208

0

279

0

29

516

595

0.84

1.30

Polk

20

0

9

0

1

30

903

0.55

0.86

Sherman

0

0

0

0

1

1

953

0.53

0.81

Tillamook

0

0

7

0

1

8

2,172

0.23

0.36

Umatilla

11

0

3

0

1

15

1,933

0.26

0.40

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

0

4

0

0

4

2,684

0.19

0.29

Washington

85

0

165

0

17

267

754

0.66

1.03

Wheeler

0

0

1

0

0

1

865

0.58

0.90

Yamhill

34

0

15

0

7

56

623

0.80

1.24

 

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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