IDAHO FORECLOSURES INCREASE 4 PERCENT IN AUGUST

State’s Activity Up 59 Percent From a Year Ago

 

IRVINE, Calif. – August 31, 2006 – Idaho reported 242 properties entering some stage of the foreclosure process in August, a 4 percent increase in activity from the 232 properties reported in July, and 59 percent above the 152 properties reported for the same month last year, according to the RealtyTrac™ August 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

 

Idaho foreclosures are now back up to the levels they were at the beginning of this year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even so, the state’s foreclosure rate is less than half of the national average.”

 

Idaho ranked 36th in the country for foreclosure activity during August. The state’s foreclosure rate of one new foreclosure filing for every 2,173 households — 46 percent of the national average — ranks it 24th among the 50 states.

 

Top five counties account for largest share of state total

Five counties accounted for 94 percent of all foreclosures in Idaho for August. Ada County lead all counties, reporting 98 properties entering some stage of the foreclosure process. Canyon County had the second highest total, reporting 44 properties entering some stage of the foreclosure process, followed by Bannock County where 34 properties entered some stage of the foreclosure process. Completing the top five were Bonneville County reporting 28 properties and Kootenai County reporting 24 properties in the foreclosure pipeline during the month.

 

Highest foreclosure rate reported in Bannock County

Bannock County posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 856 households — 2.5 times the state average and 1.2 times the national average.  Reporting one new foreclosure filing for every 1,089 households — two times the state average — Bonneville County had the second highest foreclosure rate in the state. Other significant foreclosure rates were reported in Canyon County with one new foreclosure filing for every 1090 households — twice the state average — and Ada County with one new foreclosure filing for every 1,189 households — 1.8 times the state average.

 

State foreclosures have minor impact on national total

Idaho‘s foreclosure activity accounted for less than 1 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

                         Idaho Foreclosure Market by County – August 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,611

45,704

7,328

21,533

20,116

115,292

1,003

Idaho

9

218

0

0

15

242

2,173

0.46

 

 

 

 

 

 

 

 

 

 

Ada

6

88

0

0

4

98

1,189

0.84

1.83

Adams

0

0

0

0

0

0

0.00

0.00

Bannock

2

31

0

0

1

34

856

1.17

2.54

Bear Lake

0

0

0

0

0

0

0.00

0.00

Benewah

0

0

0

0

0

0

0.00

0.00

Bingham

0

1

0

0

0

1

14,303

0.07

0.15

Blaine

0

0

0

0

1

1

12,186

0.08

0.18

Boise

0

0

0

0

0

0

0.00

0.00

Bonner

0

6

0

0

0

6

3,274

0.31

0.66

Bonneville

0

25

0

0

3

28

1,089

0.92

2.00

Boundary

0

0

0

0

0

0

0.00

0.00

Canyon

1

38

0

0

5

44

1,090

0.92

1.99

Caribou

0

1

0

0

0

1

3,188

0.31

0.68

Elmore

0

0

0

0

0

0

0.00

0.00

Franklin

0

1

0

0

0

1

3,872

0.26

0.56

Gem

0

1

0

0

0

1

5,888

0.17

0.37

Idaho

0

0

0

0

0

0

0.00

0.00

Kootenai

0

24

0

0

0

24

1,942

0.52

1.12

Lemhi

0

0

0

0

0

0

0.00

0.00

Lewis

0

0

0

0

0

0

0.00

0.00

Madison

0

1

0

0

0

1

7,630

0.13

0.28

Nez Perce

0

0

0

0

0

0

0.00

0.00

Owyhee

0

0

0

0

0

0

0.00

0.00

Payette

0

0

0

0

1

1

7,949

0.13

0.27

Shoshone

0

0

0

0

0

0

0.00

0.00

Teton

0

0

0

0

0

0

0.00

0.00

Twin Falls

0

1

0

0

0

1

25,595

0.04

0.08

Valley

0

0

0

0

0

0

0.00

0.00

Washington

0

0

0

0

0

0

0.00

0.00

 

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 construction properties, with more than 1 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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