WASHINGTON FORECLOSURE ACTIVITY UP 20 PERCENT IN SEPTEMBER

Yearly Total Up 62 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Washington reported 2,329 foreclosure filings in September, a 20 percent increase from the previous month, and a 62 percent increase from September 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 September and since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that home sales throughout the state have declined further than the national average over the past year. This is likely contributing to the overall rise.”

 

Washington ranked 20th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 1,139 households ranked it 22nd among the 50 states.

 

King County reports biggest foreclosure total

King County reported 565 foreclosure filings, the most of any county for the month. Pierce County posted the second highest foreclosure total, reporting 520 foreclosure filings for the month. Snohomish County reported the third highest foreclosure total, with 252 filings.

 

Stevens County leads state in foreclosure rate

Stevens County documented the highest foreclosure rate for September, with one foreclosure filing for every 269 households — 4.2 times the state average and 2.1 times the national average. Adams County documented the second highest foreclosure rate, with one foreclosure filing for every 538 households — 2.1 times the state average. Pierce County posted the third highest foreclosure rate, with one foreclosure filing for every 583 households — twice the state average.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Washington accounted for 1 percent of the 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 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 – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Washington

47

2,105

0

0

177

2,329

1,139

0.49

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

11

0

0

0

11

538

1.04

2.12

Asotin

1

4

0

0

0

5

1,869

0.30

0.60

Benton

0

44

0

0

22

66

930

0.60

1.22

Chelan

0

12

0

0

3

15

2,126

0.26

0.53

Clallam

0

5

0

0

0

5

6,555

0.08

0.17

Clark

2

127

0

0

12

141

1,082

0.51

1.05

Columbia

0

0

0

0

0

0

n/a

0.00

0.00

Cowlitz

0

27

0

0

3

30

1,353

0.41

0.84

Douglas

1

1

0

0

0

2

6,953

0.08

0.16

Ferry

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

1

28

0

0

4

33

619

0.90

1.83

Garfield

0

0

0

0

0

0

n/a

0.00

0.00

Grant

1

10

0

0

0

11

2,782

0.20

0.40

Grays Harbor

0

1

0

0

0

1

33,550

0.02

0.03

Island

1

8

0

0

0

9

3,946

0.14

0.28

Jefferson

0

9

0

0

2

11

1,411

0.39

0.80

King

11

537

0

0

17

565

1,403

0.40

0.81

Kitsap

1

113

0

0

5

119

827

0.67

1.37

Kittitas

0

7

0

0

0

7

2,615

0.21

0.43

Klickitat

0

0

0

0

0

0

n/a

0.00

0.00

Lewis

0

26

0

0

3

29

1,058

0.53

1.07

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Mason

0

38

0

0

1

39

709

0.79

1.60

Okanogan

0

8

0

0

0

8

2,484

0.22

0.45

Pacific

0

2

0

0

1

3

4,767

0.12

0.23

Pend Oreille

0

0

0

0

0

0

n/a

0.00

0.00

Pierce

21

474

0

0

25

520

583

0.96

1.95

San Juan

0

0

0

0

1

1

10,867

0.05

0.10

Skagit

0

48

0

0

5

53

877

0.64

1.29

Skamania

0

0

0

0

0

0

n/a

0.00

0.00

Snohomish

4

236

0

0

12

252

1,049

0.53

1.08

Spokane

1

82

0

0

29

112

1,677

0.33

0.67

Stevens

0

54

0

0

14

68

269

2.07

4.23

Thurston

1

102

0

0

6

109

872

0.64

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

0

31

0

0

4

35

2,370

0.24

0.48

Whitman

0

1

0

0

0

1

17,734

0.03

0.06

Yakima

1

59

0

0

8

68

1,201

0.46

0.94

 

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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