WASHINGTON FORECLOSURE ACTIVITY INCREASES 9 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 49 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – Washington reported 1,771 foreclosure filings in July, a 9 percent increase for the previous month, and a 49 percent increase from July 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.

 

Washington foreclosures have increased both in July and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s home sales have decreased further than the national average during the past year. This is likely contributing to the overall rise.”

 

Washington ranked 22nd in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 1,497 households ranked it 20th among the 50 states.

 

King County leads all in foreclosure activity for July

King County led the state in foreclosure activity for July, reporting 510 foreclosure filings. Pierce County reported the second highest county total with 390 foreclosure filings. Snohomish County reported the third highest county total, 220 foreclosure filings, followed by fourth place Spokane County, with 114 filings entering the foreclosure pipeline. Clark County reported the fifth highest county total with 97 foreclosure filings.

 

Wahkiakum County posts highest foreclosure rate

Wahkiakum County reported the highest county foreclosure rate in the state for July, with a rate of one foreclosure filing for every 620 households — 2.4 times the state average. Pierce County posted the second highest foreclosure rate, with one foreclosure filing for every 777 households — 1.9 times the state average. Cowlitz County posted the third highest foreclosure rate, with one foreclosure filing for every 902 households — 1.6 times the state average. Mason County came in fourth with a foreclosure rate of one foreclosure filing for every 953 households — 1.6 times the state average. Kitsap County rounded out the state’s top five with a foreclosure rate of one foreclosure filing for every 1,186 households.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Washington accounted for 1 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Washington

16

1,630

0

0

125

1,771

1,497

0.46

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Asotin

0

2

0

0

2

4

2,336

0.30

0.64

Benton

0

37

0

0

6

43

1,428

0.49

1.05

Chelan

0

5

0

0

0

5

6,378

0.11

0.23

Clallam

0

3

0

0

0

3

10,924

0.06

0.14

Clark

0

92

0

0

5

97

1,573

0.44

0.95

Columbia

0

0

0

0

0

0

n/a

0.00

0.00

Cowlitz

1

37

0

0

7

45

902

0.77

1.66

Douglas

0

7

0

0

3

10

1,391

0.50

1.08

Franklin

0

8

0

0

4

12

1,703

0.41

0.88

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Grays Harbor

1

4

0

0

0

5

6,710

0.10

0.22

Island

0

1

0

0

0

1

35,515

0.02

0.04

Jefferson

0

6

0

0

1

7

2,218

0.31

0.68

King

6

479

0

0

25

510

1,554

0.45

0.96

Kitsap

1

76

0

0

6

83

1,186

0.58

1.26

Kittitas

0

2

0

0

1

3

6,101

0.11

0.25

Klickitat

0

0

0

0

0

0

n/a

0.00

0.00

Lewis

0

8

0

0

4

12

2,557

0.27

0.59

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Mason

0

27

0

0

2

29

953

0.73

1.57

Okanogan

0

1

0

0

1

2

9,934

0.07

0.15

Pacific

0

3

0

0

0

3

4,767

0.15

0.31

Pend Oreille

0

0

0

0

0

0

n/a

0.00

0.00

Pierce

2

374

0

0

14

390

777

0.89

1.93

San Juan

0

3

0

0

0

3

3,622

0.19

0.41

Skagit

0

23

0

0

4

27

1,721

0.40

0.87

Skamania

0

1

0

0

0

1

4,847

0.14

0.31

Snohomish

2

210

0

0

8

220

1,201

0.58

1.25

Spokane

1

92

0

0

21

114

1,648

0.42

0.91

Stevens

0

2

0

0

0

2

9,132

0.08

0.16

Thurston

1

64

0

0

9

74

1,285

0.54

1.17

Wahkiakum

0

3

0

0

0

3

620

1.12

2.41

Walla Walla

1

0

0

0

0

1

22,118

0.03

0.07

Whatcom

0

22

0

0

0

22

3,770

0.18

0.40

Whitman

0

0

0

0

0

0

n/a

0.00

0.00

Yakima

0

38

0

0

2

40

2,041

0.34

0.73

 

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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