Idaho Foreclosure Activity Rises in August

Filings increase 9 percent from July; foreclosure rate No. 5 nationally

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,915 Idaho properties in August, a 9 percent increase from the previous month and an 11 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  One in every 220 Idaho housing units received a foreclosure filing during the month, the fifth highest state foreclosure rate in the nation.

 

“Foreclosure activity climbed in Idaho in August, with more filings reported than in the previous month and for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state rose slightly as well to 9.6 percent, in line with the national average.”

 

Canyon County leads the state in foreclosure rate for August

Canyon County, where one in every 96 housing units received a foreclosure filing during the month, posted the top foreclosure rate in Idaho. One in every 151 housing units received a foreclosure filing in Jefferson County, for the second highest rate in the state. Coming in third was Teton County, where one in every 158 housing units received a foreclosure filing in August. Fourth highest was Ada County, where one in every 161 housing units received a foreclosure filing. Kootenai County came in fifth, with one in every 199 housing units receiving a foreclosure filing during the month.

 

Ada County posts top foreclosure total for August

Ada County led Idaho in total foreclosure activity for August, reporting 969 properties with foreclosure filings. Canyon County documented the second highest foreclosure activity, where 707 properties with foreclosure filings were reported. Kootenai County came in third, tallying 303 properties with foreclosure filings. Fourth highest was Bonneville County, where 127 properties with foreclosure filings were reported. Twin Falls County came in fifth, reporting 105 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Idaho accounted for 1 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 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 – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

Idaho

885

0

1,420

0

610

2,915

220

1.73

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

186

0

386

0

135

707

96

3.96

2.29

Jefferson

21

0

24

0

9

54

151

2.53

1.46

Teton

14

0

14

0

3

31

158

2.41

1.39

Ada

334

0

417

0

218

969

161

2.37

1.37

Kootenai

81

0

166

0

56

303

199

1.92

1.11

 

 

Idaho Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

Idaho

885

0

1,420

0

610

2,915

220

8.89

11.26

 

 

 

 

 

 

 

 

 

 

Ada

334

0

417

0

218

969

161

3.64

1.89

Canyon

186

0

386

0

135

707

96

-3.15

22.32

Kootenai

81

0

166

0

56

303

199

6.32

38.36

Bonneville

48

0

61

0

18

127

301

13.39

27.00

Twin Falls

49

0

43

0

13

105

287

17.98

15.38

 

 

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