WASHINGTON FORECLOSURE ACTIVITY DOWN 21 PERCENT IN APRIL

Foreclosure Activity Up 34 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 3,359 Washington properties in April, a 21 percent decline from the previous month, but still 34 percent above the level reported for April 2008, 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 1.5 million properties from over 2,200 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.

 

“Foreclosure activity in Washington slowed down in April, but was still up from a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “After many months of increased job losses, the state’s unemployment rate held steady in April at 9.2 percent, which may have impacted the slowdown in foreclosures.”

 

Washington ranked 22nd in the country in total properties with foreclosure filings for April. One in every 817 Washington housing units received a foreclosure filing during the month, the 26th highest state foreclosure rate in the nation.

 

Pierce County leads state in foreclosure activity in April

Pierce County led the state, reporting 816 properties with foreclosure filings for the month. King County reported 772 properties with foreclosure filings, the state’s second highest county total. Clark County came in third highest, reporting 486 properties with foreclosure filings. Snohomish County came in fourth, documenting 400 properties with foreclosure filings, while the fifth highest total was in Whatcom County, where 153 properties with foreclosure filings were reported for the month.

 

Clark County post state’s top foreclosure rate in April

Clark County topped the list, with one in every 327 housing units receiving a foreclosure filing — 2.5 times the state average. Pierce County had the second highest foreclosure rate, with one in every 385 housing units receiving a foreclosure filing — 2.1 times the state average and on par with the national average. Cowlitz County documented the third highest foreclosure rate, where one in every 420 housing units received a foreclosure filing during the month — twice the state average.

 

State a moderate contributor to nation’s foreclosure total in April

Washington accounted for 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 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.

 

        Washington Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Washington

0

0

2,352

0

1,007

3,359

817

-20.70

33.88

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

 n/a

-100.00

-100.00

Asotin

0

0

5

0

0

5

1,898

 n/a

400.00

Benton

0

0

0

0

1

1

63,290

0.00

-99.12

Chelan

0

0

17

0

6

23

1,432

-36.11

475.00

Clallam

0

0

25

0

11

36

941

-44.62

 n/a

Clark

0

0

350

0

136

486

327

-19.67

50.00

Columbia

0

0

0

0

0

0

 n/a

 n/a

 n/a

Cowlitz

0

0

62

0

37

99

420

-28.78

160.53

Douglas

0

0

0

0

0

0

 n/a

 n/a

-100.00

Ferry

0

0

0

0

0

0

 n/a

 n/a

 n/a

Franklin

0

0

0

0

15

15

1,487

114.29

-21.05

Garfield

0

0

0

0

0

0

 n/a

 n/a

 n/a

Grant

0

0

0

0

0

0

 n/a

 n/a

-100.00

Grays Harbor

0

0

25

0

0

25

1,372

-28.57

-35.90

Island

0

0

0

0

8

8

4,598

-52.94

-63.64

Jefferson

0

0

0

0

0

0

 n/a

-100.00

-100.00

King

0

0

600

0

172

772

1,058

-31.98

38.10

Kitsap

0

0

90

0

46

136

742

166.67

16.24

Kittitas

0

0

0

0

0

0

 n/a

 n/a

-100.00

Klickitat

0

0

0

0

0

0

 n/a

 n/a

-100.00

Lewis

0

0

1

0

3

4

7,904

100.00

-84.00

Lincoln

0

0

0

0

0

0

 n/a

 n/a

-100.00

Mason

0

0

24

0

21

45

638

-11.76

21.62

Okanogan

0

0

0

0

0

0

 n/a

 n/a

-100.00

Pacific

0

0

0

0

0

0

 n/a

 n/a

-100.00

Pend Oreille

0

0

0

0

0

0

 n/a

 n/a

 n/a

Pierce

0

0

523

0

293

816

385

-17.07

50.28

San Juan

0

0

0

0

0

0

 n/a

 n/a

-100.00

Skagit

0

0

62

0

32

94

514

14.63

184.85

Skamania

0

0

0

0

0

0

 n/a

 n/a

-100.00

Snohomish

0

0

322

0

78

400

689

-27.40

53.26

Spokane

0

0

10

0

43

53

3,680

-24.29

-57.60

Stevens

0

0

0

0

0

0

 n/a

 n/a

-100.00

Thurston

0

0

84

0

32

116

866

-45.79

33.33

Wahkiakum

0

0

0

0

0

0

 n/a

-100.00

 n/a

Walla Walla

0

0

1

0

23

24

939

380.00

 n/a

Whatcom

0

0

118

0

35

153

566

75.86

240.00

Whitman

0

0

2

0

0

2

9,207

-33.33

 n/a

Yakima

0

0

31

0

15

46

1,798

-48.89

-16.36

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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