WASHINGTON FORECLOSURE ACTIVITY UP 9 PERCENT IN JANUARY

Foreclosure Activity Up 4 Percent From January 2007

 

IRVINE, Calif. – Feb. 26, 2008 – Washington reported 2,200 foreclosure filings in January, a 9 percent increase from the previous month, and a 4 percent increase from January 2007, 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 January. The state’s foreclosure rate of one foreclosure filing for every 1,205 households ranked it 27th among the 50 states.

 

Pierce County posts highest foreclosure total

Pierce County led the state in total foreclosure filings in Washington for January, reporting 516 foreclosure filings for the month. King County posted the second highest foreclosure total, reporting 458 foreclosure filings. Clark County had the third highest foreclosure total, reporting 251 foreclosure filings for the month.

 

Columbia County reports top foreclosure rate

Columbia County posted the highest foreclosure rate in the state for January, one foreclosure filing for every 516 households — 2.3 times the state average. Pierce County reported the second highest foreclosure rate, one foreclosure filing for every 587 households — 2.1 times the state average. Clark County registered the third highest foreclosure rate, one foreclosure filing for every 608 households — twice the state average.

 

State a minor contributor to nation’s total in January

Total foreclosure filings in Washington accounted for less than 1 percent of the 223,001 foreclosure filings reported nationwide in January. The national total represents an 8 percent increase from the previous month, and is 57 percent above the total reported for January 2007. The nation’s foreclosure rate increased to one foreclosure filing for every 534 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 – January 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

52,321

60,101

19,662

55,590

45,327

233,001

534

n/a

n/a

Washington

27

1,780

0

0

393

2,200

1,205

0.44

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

4

0

0

1

5

1,184

0.45

1.02

Asotin

0

3

0

0

0

3

3,115

0.17

0.39

Benton

0

57

0

0

21

78

787

0.68

1.53

Chelan

0

15

0

0

1

16

1,993

0.27

0.60

Clallam

0

0

0

0

0

0

 n/a

0.00

0.00

Clark

3

220

0

0

28

251

608

0.88

1.98

Columbia

0

4

0

0

0

4

516

1.04

2.33

Cowlitz

2

3

0

0

0

5

8,115

0.07

0.15

Douglas

0

3

0

0

0

3

4,635

0.12

0.26

Ferry

0

0

0

0

0

0

  n/a

0.00

0.00

Franklin

0

29

0

0

0

29

705

0.76

1.71

Garfield

0

0

0

0

0

0

  n/a

0.00

0.00

Grant

1

5

0

0

1

7

4,372

0.12

0.28

Grays Harbor

0

17

0

0

5

22

1,525

0.35

0.79

Island

1

21

0

0

1

23

1,544

0.35

0.78

Jefferson

0

8

0

0

0

8

1,941

0.28

0.62

King

6

381

0

0

71

458

1,731

0.31

0.70

Kitsap

0

58

0

0

22

80

1,230

0.43

0.98

Kittitas

1

4

0

0

0

5

3,661

0.15

0.33

Klickitat

0

0

0

0

0

0

  n/a

0.00

0.00

Lewis

2

34

0

0

1

37

829

0.64

1.45

Lincoln

0

0

0

0

0

0

  n/a

0.00

0.00

Mason

0

31

0

0

7

38

728

0.73

1.66

Okanogan

0

2

0

0

4

6

3,311

0.16

0.36

Pacific

0

4

0

0

2

6

2,384

0.22

0.51

Pend Oreille

0

0

0

0

0

0

  n/a

0.00

0.00

Pierce

5

389

0

0

122

516

587

0.91

2.05

San Juan

0

0

0

0

0

0

  n/a

0.00

0.00

Skagit

0

20

0

0

12

32

1,452

0.37

0.83

Skamania

0

1

0

0

0

1

4,847

0.11

0.25

Snohomish

1

156

0

0

37

194

1,362

0.39

0.88

Spokane

1

122

0

0

21

144

1,305

0.41

0.92

Stevens

0

8

0

0

2

10

1,826

0.29

0.66

Thurston

0

79

0

0

22

101

942

0.57

1.28

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

38

0

0

1

40

2,073

0.26

0.58

Whitman

0

1

0

0

0

1

17,734

0.03

0.07

Yakima

3

63

0

0

11

77

1,060

0.50

1.14

 

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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