WASHINGTON FORECLOSURE ACTIVITY DOWN 6 PERCENT IN OCTOBER

Foreclosure Activity Up 37 Percent From October 2006

 

IRVINE, Calif. – Nov. 26, 2007 – Washington reported 2,193 foreclosure filings in October, a 6 percent decrease from the previous month, but still a 37 percent increase from October 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.

 

“Employment growth is now leveling out in Washington and the average home price within the state has declined slightly,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, foreclosure activity within the state seems to be improving, at least slightly from one month earlier.”

 

Washington ranked 22nd in the country in total foreclosures reported for October. The state’s foreclosure rate of one foreclosure filing for every 1,209 households ranked it 26th among the 50 states.

 

Pierce County leads state in foreclosure total

Pierce County led the state with 567 foreclosure filings for the month. King County reported the second highest foreclosure total, with 338 foreclosure filings. Snohomish County posted the third highest foreclosure total, with 252 foreclosure filings. Clark County had the fourth highest foreclosure total, with 166 foreclosure filings entering some part of the foreclosure pipeline.

 

Pierce County posts highest foreclosure rate

Pierce County tallied the highest foreclosure rate in Washington for October, with one foreclosure filing for every 534 households — 2.3 times the state average. Mason County registered the second highest foreclosure rate, with one foreclosure filing for every 588 households — 2.1 times the state average. Franklin County posted the third highest foreclosure rate, with one foreclosure filing for every 659 households — 1.8 times the state average.

 

State makes minor contribution to national total

Total foreclosure filings in Washington accounted for 1 percent of the 224,451 foreclosure filings reported nationwide in October. The national total represents a 2 percent increase from the previous month, and is 94 percent above the total reported for October 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 555 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.

 

 

                     Washington Foreclosure Market by County – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

n/a

n/a

Washington

37

1,926

0

0

230

2,193

1,209

0.46

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

3

0

0

0

3

1,973

0.28

0.61

Asotin

0

3

0

0

1

4

2,336

0.24

0.52

Benton

1

43

0

0

8

52

1,181

0.47

1.02

Chelan

0

12

0

0

1

13

2,453

0.23

0.49

Clallam

0

2

0

0

1

3

10,924

0.05

0.11

Clark

2

146

0

0

18

166

919

0.60

1.32

Columbia

0

0

0

0

0

0

n/a 

0.00

0.00

Cowlitz

3

52

0

0

1

56

725

0.77

1.67

Douglas

0

7

0

0

0

7

1,987

0.28

0.61

Ferry

0

0

0

0

0

0

n/a 

0.00

0.00

Franklin

0

29

0

0

2

31

659

0.84

1.83

Garfield

0

0

0

0

0

0

n/a 

0.00

0.00

Grant

1

24

0

0

8

33

927

0.60

1.30

Grays Harbor

0

12

0

0

12

24

1,398

0.40

0.86

Island

0

21

0

0

3

24

1,480

0.37

0.82

Jefferson

0

7

0

0

1

8

1,941

0.29

0.62

King

8

282

0

0

48

338

2,345

0.24

0.52

Kitsap

0

120

0

0

13

133

740

0.75

1.63

Kittitas

0

4

0

0

0

4

4,576

0.12

0.26

Klickitat

1

0

0

0

0

1

9,074

0.06

0.13

Lewis

0

25

0

0

2

27

1,136

0.49

1.06

Lincoln

0

0

0

0

0

0

n/a 

0.00

0.00

Mason

0

41

0

0

6

47

588

0.94

2.06

Okanogan

0

5

0

0

1

6

3,311

0.17

0.37

Pacific

0

2

0

0

1

3

4,767

0.12

0.25

Pend Oreille

0

0

0

0

0

0

n/a 

0.00

0.00

Pierce

11

516

0

0

40

567

534

1.04

2.26

San Juan

0

2

0

0

0

2

5,434

0.10

0.22

Skagit

0

36

0

0

6

42

1,107

0.50

1.09

Skamania

0

1

0

0

0

1

4,847

0.11

0.25

Snohomish

1

240

0

0

11

252

1,049

0.53

1.15

Spokane

4

98

0

0

15

117

1,606

0.35

0.75

Stevens

0

10

0

0

0

10

1,826

0.30

0.66

Thurston

1

87

0

0

14

102

932

0.60

1.30

Wahkiakum

0

0

0

0

0

0

n/a 

0.00

0.00

Walla Walla

0

0

0

0

0

0

n/a 

0.00

0.00

Whatcom

1

45

0

0

7

53

1,565

0.35

0.77

Whitman

0

0

0

0

0

0

n/a 

0.00

0.00

Yakima

3

51

0

0

10

64

1,276

0.43

0.95

 

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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