Oregon Foreclosures Fall in October

Statewide filings down 9 percent from September

 

Oregon reported 3,160 properties with foreclosure filings in October, down 9 percent from the previous month, but still 11 percent above the level reported in October 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 509 Oregon housing units received a foreclosure filing in October, the 16th highest foreclosure rate in the nation.

 

Oregon welcomed a drop in foreclosures in October, though activity remained above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s unemployment rate remained flat at 11.3 percent for the month, it is much worse than that of the nation and therefore a cause for concern among homeowners.”

 

Deschutes County posts state’s top foreclosure rate in October

Deschutes County posted the highest county foreclosure rate in Oregon for October, with one in every 146 housing units receiving a foreclosure filing — 3.5 times the state average. Yamhill County ranked second, reporting one in every 367 housing units receiving a foreclosure filing — 1.4 times the state average. Jackson County had the third highest rate, with one in every 386 housing units receiving a foreclosure filing — 1.3 times the state average. Clackamas County posted the fourth highest foreclosure rate, where one in every 388 housing units received a foreclosure filing during the month — 1.3 times the state average.

 

Multnomah County tops state in foreclosure totals during October

Multnomah County led all counties, totaling 574 properties with foreclosure filings for the month. Deschutes County was second highest, documenting 520 properties with foreclosure filings. Clackamas County was third highest total in Oregon, reporting 391 properties with foreclosure filings. Washington County came in fourth, reporting 321 properties with foreclosure filings, while the fifth highest total was in Marion County, where 233 properties with foreclosure filings were reported for the month.

 

State a minor contributor to nation’s foreclosure activity in October

Oregon accounted for less than one percent of the 332,292 properties with foreclosure filings reported nationwide in October. Total U.S. activity declined 3 percent from the previous month but was still 19 percent ahead of October 2008. One in every 385 U.S. housing units 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 Top Foreclosure Rates By County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

n/a

n/a

Oregon

46

0

2,046

0

1,068

3,160

509

0.76

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

5

0

272

0

243

520

146

2.63

3.48

Yamhill

0

0

47

0

50

97

367

1.05

1.39

Jackson

3

0

145

0

78

226

386

1.00

1.32

Clackamas

13

0

220

0

158

391

388

0.99

1.31

Columbia

0

0

34

0

15

49

401

0.96

1.27

 

 

Oregon Top Foreclosure Totals by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 09

% Chg Oct 08

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

-3.30

18.86

Oregon

46

0

2,046

0

1,068

3,160

509

-9.25

11.23

 

 

 

 

 

 

 

 

 

 

Multnomah

5

0

409

0

160

574

541

-13.68

-24.37

Deschutes

5

0

272

0

243

520

146

21.21

90.48

Clackamas

13

0

220

0

158

391

388

-5.56

23.73

Washington

2

0

218

0

101

321

640

-38.51

-0.31

Marion

2

0

186

0

45

233

510

4.02

38.69

 

 

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