Washington Foreclosure Activity Rises in April

Statewide foreclosure filings up 40 percent from March

 

Monthly foreclosure activity in Washington rose in April, up 40 percent from the previous month to 4,365 properties with foreclosure filings. This latest state total also represents a 30 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity inched up in Washington in April to significantly more than what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment remains high in the Evergreen State as well, which could keep foreclosures elevated for many months to come.”   

 

The state had the 24th highest state foreclosure rate in the nation with one in 640 Washington housing units receiving a foreclosure filing during the month.

 

Clark County posts top foreclosure rate for April

Clark County posted the highest county foreclosure rate in Washington for April, with one in every 368 housing units receiving a foreclosure filing — 1.7 times the state average. Pierce County came in second, with one in every 399 housing units receiving a foreclosure filing —1.6 times the state average. Snohomish County was third, with one in every 416 housing units receiving a foreclosure filing — 1.5 times the state average.

 

King County led the state in total foreclosures for April

King County led the way, reporting 1,282 properties with foreclosure filings for the month. Pierce County was second highest, documenting 805 properties with foreclosure filings. Reporting 675 properties with foreclosure filings for the month, Snohomish County ranked third highest. Clark County was fourth, reporting 442 properties with foreclosure filings. A total of 165 properties with foreclosure filings were reported in Spokane County, the fifth highest county total in April.

 

State a modest contributor to nation’s month foreclosure total

Washington accounted for 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, 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 Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Washington

0

0

3,008

0

1,357

4,365

640

0.60

n/a

 

 

 

 

 

 

 

 

 

 

Clark

0

0

346

0

96

442

368

1.05

1.74

Pierce

0

0

530

0

275

805

399

0.97

1.60

Snohomish

0

0

465

0

210

675

416

0.93

1.54

Skagit

0

0

73

0

31

104

471

0.82

1.36

Cowlitz

0

0

61

0

25

86

489

0.79

1.31

 

 

Washington Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Washington

0

0

3,008

0

1,357

4,365

640

40.04

29.95

 

 

 

 

 

 

 

 

 

 

King

0

0

907

0

375

1,282

650

54.09

66.06

Pierce

0

0

530

0

275

805

399

22.34

-1.35

Snohomish

0

0

465

0

210

675

416

36.36

68.75

Clark

0

0

346

0

96

442

368

32.34

-9.05

Spokane

0

0

112

0

53

165

1,196

54.21

211.32

 

 

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