Idaho Foreclosures Up in 2010

Foreclosure filings rise 11 percent from 2009

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 19,088 Idaho properties for 2010, up 11 percent from a year ago and 124 percent above the level reported for 2008, according to the RealtyTrac® Year-End 2010 U.S. Foreclosure Market Report™.

 

Foreclosure filings were reported on 2,076 Idaho properties in December 2010, a 3 percent decrease from November and 48 percent below the level reported in December 2009. One in every 309 Idaho housing units received a foreclosure filing during the month.

 

“Idaho foreclosure activity heated up considerably in 2010 to a level above what was reported for 2009 and well more than double what was reported for 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s struggling job market is a subject of concern among struggling homeowners. Unemployment recently climbed to 9.5 percent, the first time in nine years that the state’s jobless rate surpassed that of the national average.”

 

One in every 34 Idaho housing units received a foreclosure filing in 2010, the eighth highest state foreclosure rate in the nation for the year.

 

Canyon County posts state’s top foreclosure rate in 2010

Canyon County posted the highest foreclosure rate in Idaho in 2010, with one in every 16 housing units received a foreclosure filing — 2.8 times the national average. Teton County came in second, with one in every 18 housing units receiving a foreclosure filing in 2010 — 2.5 times the national average. The next highest was Ada County, where one in every 23 housing units received a foreclosure filings during the year — 1.9 times the national average.

 

Ada County led the state in foreclosure activity in 2010

Ada County led Idaho in foreclosure activity, reporting 6,643 properties with foreclosure filings. Canyon County had the second highest total, with 4,264 properties with foreclosure filings. Kootenai County was third highest, reporting 1,784 properties with foreclosure filings for the year. Bonneville County came in fourth, tallying 814 properties with foreclosure filings. Fifth highest total for the year was in Twin Falls County, where 660 properties with foreclosure filings were reported.

 

State a minor contributor to total foreclosure activity in 2010

Idaho accounted for 1 percent of the 2,871,891 properties with foreclosure filings reported nationwide for 2010. Total U.S. activity increased by almost 2 percent from 2009, and was more than 23 percent above the level reported in 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

n/a

n/a

Idaho

3,674

6

10,121

0

5,287

19,088

34

1.34

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

623

3

2,375

0

1,263

4,264

16

2.82

2.11

Teton

72

0

122

0

78

272

18

2.50

1.87

Ada

1,258

1

3,602

0

1,782

6,643

23

1.91

1.43

Gem

0

0

136

0

97

233

29

1.53

1.15

Valley

65

0

147

0

118

330

31

1.46

1.09

 

 

Idaho Top Foreclosure Totals by County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg 2009

% Chg 2008

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

1.67

23.23

Idaho

3,674

6

10,121

0

5,287

19,088

34

11.23

124.25

 

 

 

 

 

 

 

 

 

 

Ada

1,258

1

3,602

0

1,782

6,643

23

-2.61

108.38

Canyon

623

3

2,375

0

1,263

4,264

16

7.05

94.35

Kootenai

496

2

831

0

455

1,784

34

14.95

115.46

Bonneville

163

0

439

0

212

814

47

20.41

113.09

Twin Falls

157

0

348

0

155

660

46

19.35

154.83

 

 

 

Idaho Top Foreclosure Rates By County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

n/a

n/a

Idaho

624

0

993

0

459

2,076

309

1.62

n/a

 

 

 

 

 

 

 

 

 

 

Canyon

111

0

238

0

155

504

135

3.71

2.29

Teton

8

0

16

0

6

30

163

3.07

1.89

Butte

1

0

3

0

2

6

214

2.34

1.44

Ada

216

0

326

0

146

688

227

2.21

1.36

Gem

0

0

17

0

10

27

253

1.98

1.22

 

 

Idaho Top Foreclosure Totals by County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 10

% Chg Dec 09

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

-1.75

-26.26

Idaho

624

0

993

0

459

2,076

309

-2.67

-47.73

 

 

 

 

 

 

 

 

 

 

Ada

216

0

326

0

146

688

227

-9.47

-53.61

Canyon

111

0

238

0

155

504

135

11.75

-45.69

Kootenai

97

0

89

0

37

223

270

-13.23

-44.94

Bonneville

35

0

52

0

13

100

383

-2.91

-35.90

Twin Falls

29

0

31

0

11

71

425

-15.48

-45.80

 

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