OREGON FORECLOSURES INCREASE 7 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 36 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Oregon reported 880 foreclosure filings in June, a 7 percent increase from the previous month, but still 36 percent below the number reported in June 2006, 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 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 mortgage credit quality remains better than most of the nation and the state continues to report job growth,” said James J. Saccacio, chief executive officer of RealtyTrac. “These factors are both positive contributors to keeping the state’s foreclosure rate down.”

 

Total foreclosures in the Beaver State ranked it the 26th highest in the country for June. The state’s foreclosure rate of one new foreclosure filing for every 1,651 households ranked 24th among the 50 states.

 

Multnomah County leads all in foreclosure activity for June

Multnomah County led the state in foreclosure activity for June, reporting 155 foreclosure filings. Lane County reported the second highest county total with 128 foreclosure filings. Marion County reported the third highest total with 112 filings in the foreclosure pipeline for the month.

 

Highest foreclosure rate reported in Josephine County

Josephine County posted the highest foreclosure rate in the state, one foreclosure filing for every 709 households — 2.3 times the state average and on par with the national average. Yamhill County posted the second highest rate in the state, one foreclosure filing for every 865 households — 1.9 times the state average. Third highest foreclosure rate was reported in Polk County, one foreclosure filing for every 941 households — 1.8 times the state average.

 

State a minor contributor to national total

Total foreclosure filings in Oregon accounted for less than 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 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 – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Oregon

541

303

0

0

36

880

1,651

0.43

n/a

 

 

 

 

 

 

 

 

 

 

Baker

0

0

0

0

0

0

n/a

0.00

0.00

Benton

3

6

0

0

0

9

3,553

0.20

0.46

Clackamas

55

8

0

0

2

65

2,107

0.33

0.78

Clatsop

5

2

0

0

0

7

2,812

0.25

0.59

Columbia

12

1

0

0

0

13

1,352

0.52

1.22

Coos

8

1

0

0

0

9

3,250

0.22

0.51

Crook

0

1

0

0

0

1

8,264

0.09

0.20

Curry

0

2

0

0

0

2

5,703

0.12

0.29

Deschutes

28

7

0

0

1

36

1,516

0.46

1.09

Douglas

13

0

0

0

1

14

3,092

0.23

0.53

Grant

1

0

0

0

0

1

4,004

0.18

0.41

Hood River

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

44

10

0

0

7

61

1,242

0.57

1.33

Jefferson

1

0

0

0

0

1

8,319

0.08

0.20

Josephine

14

32

0

0

1

47

709

0.99

2.33

Klamath

12

1

0

0

0

13

2,222

0.32

0.74

Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Lane

56

69

0

0

3

128

1,086

0.65

1.52

Lincoln

6

0

0

0

1

7

3,841

0.18

0.43

Linn

17

24

0

0

1

42

1,084

0.65

1.52

Malheur

0

0

0

0

0

0

 n/a

0.00

0.00

Marion

49

56

0

0

7

112

966

0.73

1.71

Morrow

0

0

0

0

1

1

4,276

0.16

0.39

Multnomah

126

24

0

0

5

155

1,862

0.38

0.89

Polk

10

16

0

0

0

26

941

0.75

1.75

Tillamook

1

1

0

0

1

3

5,302

0.13

0.31

Umatilla

7

1

0

0

1

9

3,075

0.23

0.54

Union

1

0

0

0

0

1

10,603

0.07

0.16

Wasco

0

3

0

0

0

3

3,550

0.20

0.46

Washington

58

17

0

0

4

79

2,265

0.31

0.73

Yamhill

14

21

0

0

0

35

865

0.81

1.91

 

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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