Idaho Foreclosure Activity Falls in October

Foreclosure filings down 27 percent from September

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,299 Idaho properties in October, a 27 percent decrease from the previous month and down 7 percent from the level reported in October 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity fell significantly in Idaho in October, down from both the previous month and as compared to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The recent ‘robo-signing’ controversy has led to many lenders having to halt foreclosure proceedings until their processes could be reviewed. Considering the fall-out caused by that, Idaho and many other states will likely see additional months of declining foreclosure activity.”

 

One in every 279 Idaho housing units received a foreclosure filing in October, the eighth highest foreclosure rate in the nation.

 

Canyon County posts state’s top foreclosure rate for October

Canyon County posted the highest county foreclosure rate in Idaho for the month, with one in every 117 housing units receiving a foreclosure filing during October — 3.3 times the national average. Teton County registered the second highest foreclosure rate, with one in every 153 housing units receiving a foreclosure filing during the month — 2.5 times the national average. Ada County was third highest, with one in every 197 housing units receiving a foreclosure filing — twice the national average.

 

Ada County led the state in foreclosure activity in October

Ada County had the top foreclosure total, reporting 790 properties with foreclosure filings for the month. Canyon County tallied the second highest foreclosure level in the state, reporting 580 properties with foreclosure filings. Third highest total was in Kootenai County, where 188 properties with foreclosure filings were reported. Fourth highest was Bonneville County, where 87 properties with foreclosure filings were reported. Bannock County was in fifth, tallying 70 properties with foreclosure filings. 

 

State a minor contributor to nation’s monthly foreclosure total

Idaho accounted for 1 percent of the 332,172 properties with foreclosure filings reported nationwide in October. Total U.S. activity decreased by more than 4 percent from the previous month, and was down fractionally from the level reported in October 2009. One in every 389 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.

 

Idaho Top Foreclosure Rates By County – October 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

43,271

57,304

92,989

45,372

93,236

332,172

389

n/a

n/a

Idaho

919

0

932

0

448

2,299

279

1.39

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

232

0

243

0

105

580

117

3.32

2.38

Teton

13

0

12

0

7

32

153

2.54

1.82

Ada

348

0

303

0

139

790

197

1.97

1.41

Blaine

41

0

15

0

10

66

220

1.77

1.27

Valley

18

0

14

0

11

43

237

1.64

1.18

 

 

Idaho Top Foreclosure Totals by County – October 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 10

% Chg Oct 09

 

 

 

 

 

 

 

 

 

 

United States

43,271

57,304

92,989

45,372

93,236

332,172

389

-4.39

-0.04

Idaho

919

0

932

0

448

2,299

279

-26.81

-6.96

 

 

 

 

 

 

 

 

 

 

Ada

348

0

303

0

139

790

197

-30.76

-19.06

Canyon

232

0

243

0

105

580

117

-27.68

-5.07

Kootenai

66

0

75

0

47

188

320

-22.63

-10.90

Bonneville

34

0

34

0

19

87

440

-38.73

7.41

Bannock

26

0

33

0

11

70

458

-23.08

1.45

 

 

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