Oregon Foreclosure Activity Up 90 Percent in 2009

Activity up 303 percent from 2007 and 48 percent from November

 

Oregon ended 2009 tallying 34,121 properties with foreclosure filings, a 90 percent increase from the total reported for 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  The yearly total is 303 percent higher than the level reported for all of 2007.

 

Oregon reported 4,238 properties with foreclosure filings, a 48 percent increase over the previous month, and up 36 percent from December 2008. The state’s foreclosure rate — one in every 380 housing units received a foreclosure filing — was 14th highest in the nation for the month.

 

Oregon reported a major increase in foreclosure filings for December, bringing the state’s 2009 activity to nearly double the level seen in 2008 and more than quadruple what was reported in 2007,” said James J. Saccacio, chief executive officer of RealtyTrac. “Oregon’s unemployment rate reached 11 percent in December, and has been stuck in double-digits for four months. This rising jobless rate is an obvious cause for concern among Oregonian homeowners.”

 

With one in every 47 housing units receiving a foreclosure filing, Oregon’s foreclosure rate ranked 11th highest in the nation for the year.

 

Deschutes County posts state’s highest foreclosure rate for 2009

Deschutes County posted the highest county foreclosure rate in Oregon for the year, with one in every 18 housing units receiving a foreclosure filing in 2009. Jackson County followed in second, reporting one in every 32 housing units receiving a foreclosure filing. Josephine County came in third highest, reporting one in every 37 housing units receiving a foreclosure filing. Clackamas County was fourth highest with one in every 38 housing units receiving a foreclosure filing. Jefferson County had the fifth highest rate, where one in every 40 housing units receiving a foreclosure filing.

 

Multnomah County led state in foreclosure activity in 2009

Leading the way was Multnomah County, which reported a total 6,407 properties with foreclosure filings for the year. Washington County came in second, documenting 4,410 properties with foreclosure filings. Deschutes County had the third highest total in the state, reporting 4,194 properties with foreclosure filings for the year. Clackamas County was fourth highest, reporting 3,981 properties with foreclosure filings, followed by Jackson County in fifth place, tallying 2,719 properties with foreclosure filings for all of 2009.

 

State a minor contributor to nation’s foreclosure total in 2009

Oregon accounted for 1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, 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 Top Foreclosure Rates By County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Oregon

34,121

2.12

47

89.55

303.27

 

 

 

 

 

 

Deschutes

4,194

5.52

18

113.11

811.74

Jackson

2,719

3.12

32

57.81

307.65

Josephine

1,017

2.73

37

71.50

199.12

Clackamas

3,981

2.62

38

100.25

360.76

Jefferson

233

2.49

40

133.00

1,692.31

 

 

Oregon Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Oregon

34,121

2.12

47

89.55

303.27

 

 

 

 

 

 

Multnomah

6,407

2.06

48

83.06

277.10

Washington

4,410

2.15

47

120.94

364.21

Deschutes

4,194

5.52

18

113.11

811.74

Clackamas

3,981

2.62

38

100.25

360.76

Jackson

2,719

3.12

32

57.81

307.65

 

 

Oregon Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Oregon

24

0

2,829

0

1,385

4,238

380

0.96

n/a

 

 

 

 

 

 

 

 

 

 

Jefferson

0

0

76

0

16

92

102

3.59

3.73

Crook

0

0

87

0

10

97

104

3.52

3.65

Deschutes

3

0

329

0

202

534

142

2.57

2.67

Curry

0

0

35

0

6

41

299

1.22

1.27

Jackson

0

0

169

0

117

286

305

1.20

1.25

 

 

Oregon Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Oregon

24

0

2,829

0

1,385

4,238

380

48.44

36.36

 

 

 

 

 

 

 

 

 

 

Multnomah

1

0

501

0

256

758

12

61.28

32.29

Deschutes

3

0

329

0

202

534

66

43.55

18.14

Washington

6

0

347

0

172

525

289

47.47

109.16

Clackamas

1

0

280

0

139

420

50

44.83

30.43

Marion

3

0

193

0

92

288

68

16.60

19.50

 

 

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