Oregon Foreclosure Activity Up in January

Statewide filings up 14 percent from December; Up 7 percent from a year ago

 

Foreclosure activity in Oregon increased in January to 4,812 properties with foreclosure filings, a 14 percent increase from December 2009 and up 7 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Oregon foreclosures were up in January,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which spiked 125 percent for the month. The state’s unemployment rate continues to hover above the national average, and its home values declined more than most other states last year. However, home sales have really begun to pick up. If this trend continues, we may see foreclosures decline here in the near future.”

 

Oregon ranked 15th in the country in total foreclosures reported for the month. With one in every 338 housing units receiving a foreclosure filing, its foreclosure rate ranked ninth among the 50 states.

 

Deschutes County posts top foreclosure rate in the state for January

Deschutes County posted the state’s highest county foreclosure rate in January, with one in every 130 housing units receiving a foreclosure filing — 3.1 times the national average. Crook County was second, with one in every 146 housing units receiving a foreclosure filing — 2.8 times the national average. Jefferson County came in third highest, with one in every 156 housing units receiving a foreclosure filing — 2.6 times the national average. Jackson County posted the fourth highest foreclosure rate, where one in every 233 housing units received a foreclosure filing during the month — 1.7 times the national average. Josephine County documented the fifth highest foreclosure rate, where one in every 253 housing units received a foreclosure filing during the month — 1.6 times the national average.

 

Multnomah County dominates state in total foreclosure filings for January

Multnomah County led all counties, totaling 831 properties with foreclosure filings for the month. Deschutes County was second highest, documenting 600 properties with foreclosure filings. Reporting 550 properties with foreclosure filings for the month, Washington County had the third highest foreclosure total. Clackamas County came in fourth highest, reporting 488 properties with foreclosure filings, followed by Marion County where 404 properties with foreclosure filings were reported.

 

State responsible for 2 percent of nation’s foreclosure total in January

Oregon accounted for 2 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

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: DefaultNotice 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 – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Oregon

54

0

3,336

0

1,422

4,812

338

1.21

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

11

0

373

0

216

600

130

3.12

2.61

Crook

0

0

41

0

29

70

146

2.77

2.31

Jefferson

0

0

33

0

30

63

156

2.60

2.17

Jackson

9

0

270

0

99

378

233

1.74

1.45

Josephine

1

0

95

0

51

147

253

1.60

1.34

 

               

 

Oregon Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Oregon

54

0

3,336

0

1,422

4,812

338

13.54

6.67

 

 

 

 

 

 

 

 

 

 

Multnomah

16

0

610

0

205

831

378

9.63

-6.10

Deschutes

11

0

373

0

216

600

130

12.36

25.00

Washington

5

0

407

0

138

550

377

4.76

-8.79

Clackamas

0

0

359

0

129

488

314

16.19

-21.16

Marion

2

0

219

0

183

404

298

40.28

4.12

 

 

 

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