WASHINGTON FORECLOSURES INCREASE 9 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 20 Percent From August 2006

 

IRVINE, Calif. – September 21, 2007 – Washington reported 1,935 foreclosure filings in August, a 9 percent increase from the previous month, and 20 percent above the number reported in August 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate — one foreclosure filing for every 1,370 households — was the 27th highest in the nation.

 

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 has been on the rise in Washington, though that growth is now leveling out and average home price within the state has declined slightly,” said James J. Saccacio, chief executive officer of RealtyTrac. “In step with these trends, foreclosure activity is beginning to increase, both on a month-to-month basis and as compared to the same time last year.”

 

Washington documented the 23rd highest foreclosure total in the country in August.

 

King and Pierce counties account for half of all foreclosure activity

King County led the state with 530 foreclosure filings for the month. Pierce County reported the second highest foreclosure total, with 459 foreclosure filings. Snohomish County came in third highest, with 241 foreclosure filings entering some part of the foreclosure pipeline.

 

Pierce County posts highest foreclosure rate for August

Pierce County posted the highest foreclosure rate in the state for August, with one foreclosure filing for every 660 households — 2.1 times the state average. Franklin County posted the second highest foreclosure rate, with one foreclosure filing for every 929 households — 1.5 times the state average. Benton County posted the third highest foreclosure rate in the state, with one foreclosure filing for every 1,097 households — 1.3 times the state average.

 

State a minor contributor to national total

Washington accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Washington

33

1,765

0

0

137

1,935

1,370

0.37

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Benton

1

43

0

0

12

56

1,097

0.47

1.25

Chelan

0

0

0

0

1

1

31,888

0.02

0.04

Clallam

0

10

0

0

0

10

3,277

0.16

0.42

Clark

1

122

0

0

13

136

1,122

0.45

1.22

Columbia

0

0

0

0

0

0

n/a

0.00

0.00

Cowlitz

0

30

0

0

7

37

1,097

0.47

1.25

Douglas

0

2

0

0

0

2

6,953

0.07

0.20

Ferry

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

1

18

0

0

3

22

929

0.55

1.48

Grant

0

16

0

0

0

16

1,913

0.27

0.72

Grays Harbor

0

1

0

0

0

1

33,550

0.02

0.04

Island

1

25

0

0

2

28

1,268

0.40

1.08

Jefferson

0

5

0

0

0

5

3,105

0.16

0.44

King

13

495

0

0

22

530

1,496

0.34

0.92

Kitsap

1

57

0

0

8

66

1,491

0.34

0.92

Kittitas

0

1

0

0

0

1

18,304

0.03

0.07

Klickitat

0

0

0

0

0

0

n/a

0.00

0.00

Lewis

0

7

0

0

1

8

3,836

0.13

0.36

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Mason

0

19

0

0

2

21

1,317

0.39

1.04

Okanogan

0

3

0

0

0

3

6,623

0.08

0.21

Pacific

0

1

0

0

0

1

14,302

0.04

0.10

Pend Oreille

0

0

0

0

0

0

n/a

0.00

0.00

Pierce

5

436

0

0

18

459

660

0.77

2.08

San Juan

0

1

0

0

1

2

5,434

0.09

0.25

Skagit

2

20

0

0

2

24

1,937

0.26

0.71

Skamania

0

3

0

0

0

3

1,616

0.32

0.85

Snohomish

6

225

0

0

10

241

1,097

0.47

1.25

Spokane

1

99

0

0

21

121

1,553

0.33

0.88

Stevens

0

6

0

0

0

6

3,044

0.17

0.45

Thurston

0

73

0

0

6

79

1,204

0.42

1.14

Wahkiakum

0

1

0

0

0

1

1,861

0.27

0.74

Walla Walla

0

0

0

0

0

0

n/a

0.00

0.00

Whatcom

0

16

0

0

4

20

4,147

0.12

0.33

Whitman

0

0

0

0

0

0

n/a

0.00

0.00

Yakima

1

30

0

0

4

35

2,333

0.22

0.59

 

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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