WASHINGTON FORECLOSURE ACTIVITY UP 13 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Activity Up 72 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 19, 2007 – Washington reported 2,473 foreclosure filings in November, a 13 percent increase from the previous month, and a 72 percent increase from November 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. “With that in mind, along with increases in utility bills common with the colder months, it follows that the state would see some increase in foreclosure activity.”

 

Washington ranked 21st in the country in total foreclosures reported for November. The state’s foreclosure rate of one foreclosure filing for every 1,072 households ranked it 21st among the 50 states.

 

King County leads state in foreclosure activity

King County posted the highest foreclosure total in Washington for November, with 767 foreclosure filings for the month. Pierce County reported the second highest state total, with 591 foreclosure filings. Snohomish County reported the third highest foreclosure total, with 245 foreclosure filings. Clark County had the fourth highest state total, with 172 filings entering some part of the foreclosure pipeline.

 

Pierce County posts highest foreclosure rate for November

Pierce County tallied the highest foreclosure rate in Washington for November, one foreclosure filing for every 513 households — 2.1 times the state average. Mason County registered the second highest foreclosure rate, one foreclosure filing for every 658 households — 1.6 times the state average. Kitsap County posted the third highest foreclosure rate, one foreclosure filing for every 724 households — 1.5 times the state average.

 

State makes a small contribution to national total

Total foreclosure filings in Washington accounted for 1 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represents a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Washington

44

2,214

0

0

215

2,473

1,072

0.58

n/a

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Asotin

0

2

0

0

1

3

3,115

0.20

0.34

Benton

2

32

0

0

11

45

1,365

0.45

0.79

Chelan

0

10

0

0

1

11

2,899

0.21

0.37

Clallam

1

0

0

0

0

1

32,773

0.02

0.03

Clark

4

146

0

0

22

172

887

0.70

1.21

Columbia

0

0

0

0

0

0

n/a

0.00

0.00

Cowlitz

0

4

0

0

11

15

2,705

0.23

0.40

Douglas

1

4

0

0

1

6

2,318

0.27

0.46

Ferry

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

14

0

0

2

16

1,277

0.48

0.84

Garfield

0

0

0

0

0

0

n/a

0.00

0.00

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Grays Harbor

0

1

0

0

1

2

16,775

0.04

0.06

Island

1

2

0

0

0

3

11,838

0.05

0.09

Jefferson

0

13

0

0

1

14

1,109

0.56

0.97

King

10

720

0

0

37

767

1,033

0.60

1.04

Kitsap

2

120

0

0

14

136

724

0.85

1.48

Kittitas

0

1

0

0

0

1

18,304

0.03

0.06

Klickitat

0

0

0

0

0

0

n/a

0.00

0.00

Lewis

1

14

0

0

5

20

1,534

0.40

0.70

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Mason

0

36

0

0

6

42

658

0.94

1.63

Okanogan

0

4

0

0

2

6

3,311

0.19

0.32

Pacific

0

3

0

0

0

3

4,767

0.13

0.22

Pend Oreille

0

0

0

0

0

0

n/a

0.00

0.00

Pierce

10

528

0

0

53

591

513

1.20

2.09

San Juan

0

2

0

0

0

2

5,434

0.11

0.20

Skagit

1

41

0

0

2

44

1,056

0.58

1.02

Skamania

0

1

0

0

0

1

4,847

0.13

0.22

Snohomish

4

228

0

0

13

245

1,079

0.57

0.99

Spokane

2

120

0

0

15

137

1,371

0.45

0.78

Stevens

0

1

0

0

0

1

18,263

0.03

0.06

Thurston

0

91

0

0

6

97

980

0.63

1.09

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

36

0

0

1

38

2,182

0.28

0.49

Whitman

0

1

0

0

0

1

17,734

0.03

0.06

Yakima

4

39

0

0

10

53

1,540

0.40

0.70

 

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 construction properties, 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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