OREGON FORECLOSURE ACTIVITY UP 57 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Increases 99 Percent From August 2006

 

IRVINE, Calif. – September 21, 2007 – Oregon reported 1,047 foreclosure filings in August, a 57 percent increase from the previous month, and 99 percent above the number reported in August 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate — one foreclosure filing for every 1,488 households — was the 29th highest in the nation.

 

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 recent increase in foreclosure activity.”

 

Oregon ranked 26th in the country in total foreclosures reported for August.

 

Multnomah County leads the state in foreclosure total

Multnomah County led the state with 208 foreclosure filings for the month. Lane County reported the second highest foreclosure total, with 113 foreclosure filings. Marion County came in third highest, with 91 foreclosure filings. Clackamas County had the fourth highest state foreclosure total, with 90 filings entering some part of the foreclosure pipeline.

 

Polk County posts highest foreclosure rate

Polk County posted the highest foreclosure rate in the state for August, with one foreclosure filing for every 617 households — 2.4 times the state average. Josephine County posted the second highest foreclosure rate, with one foreclosure filing for every 665 households — 2.2 times the state average. Columbia County posted the third highest foreclosure rate in the state, with one foreclosure filing for every 868 households — 1.7 times the state average. Linn County had the fourth highest foreclosure rate, with one foreclosure filing for every 1,027 households — 1.5 times the state average average.

 

State a minor contributor to national total

Oregon accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Oregon

726

244

0

0

77

1,047

1,488

0.34

n/a

 

 

 

 

 

 

 

 

 

 

Baker

0

1

0

0

0

1

8,661

0.06

0.17

Benton

4

1

0

0

0

5

6,872

0.07

0.22

Clackamas

73

12

0

0

5

90

1,632

0.31

0.91

Clatsop

9

5

0

0

1

15

1,365

0.37

1.09

Columbia

13

7

0

0

2

22

868

0.59

1.71

Coos

14

9

0

0

0

23

1,283

0.40

1.16

Crook

0

0

0

0

0

0

n/a

0.00

0.00

Curry

0

0

0

0

0

0

n/a

0.00

0.00

Deschutes

38

11

0

0

3

52

1,319

0.39

1.13

Douglas

17

5

0

0

6

28

1,606

0.32

0.93

Hood River

0

0

0

0

0

0

n/a

0.00

0.00

Jackson

48

17

0

0

11

76

1,108

0.46

1.34

Jefferson

0

1

0

0

0

1

9,056

0.06

0.16

Josephine

25

18

0

0

11

54

665

0.77

2.24

Klamath

9

5

0

0

1

15

1,998

0.26

0.74

Lake

0

0

0

0

0

0

n/a

0.00

0.00

Lane

62

50

0

0

1

113

1,291

0.40

1.15

Lincoln

7

4

0

0

1

12

2,347

0.22

0.63

Linn

22

16

0

0

6

44

1,027

0.50

1.45

Malheur

0

0

0

0

0

0

n/a

0.00

0.00

Marion

62

23

0

0

6

91

1,269

0.40

1.17

Morrow

0

0

0

0

0

0

n/a

0.00

0.00

Multnomah

180

16

0

0

12

208

1,457

0.35

1.02

Polk

34

8

0

0

1

43

617

0.83

2.41

Tillamook

6

1

0

0

1

8

2,126

0.24

0.70

Umatilla

15

4

0

0

3

22

1,307

0.39

1.14

Union

0

1

0

0

0

1

10,695

0.05

0.14

Wasco

0

4

0

0

0

4

2,676

0.19

0.56

Washington

66

15

0

0

6

87

2,264

0.23

0.66

Yamhill

22

10

0

0

0

32

1,060

0.48

1.40

 

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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