Oregon Foreclosure Activity Down in Third Quarter

Filings down 10 percent from Q2 2011, down 42 percent from a year ago

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 7,174 Oregon properties during  the third quarter of 2011, down 10 percent from the second quarter of 2011 and  42 percent below the level reported for the same quarter last year, according to the latest RealtyTrac® U.S.  Foreclosure Market Report.

One in every 229 Oregon housing units had a foreclosure  filing during the quarter, the state posted the 13th highest  foreclosure rate in the nation.

Foreclosure filings were reported  on 2,934 Oregon  properties in September, an 11 percent increase from  August, but down 37 percent from September 2010. One in every 559 Oregon housing units had  a foreclosure filing in September, the 11th highest state foreclosure  rate in the nation.

Deschutes County posts top  foreclosure rate for the third quarter
  One in every 105 housing units in Deschutes  County had a foreclosure filing during the third quarter of 2011 — twice the  national average and 2.2 times the state average. Jackson County  had the second highest rate with one in every 156 housing units reporting a  foreclosure filing — 1.4 times the national average and 1.5 times the state  average. Marion County had the third highest rate,  reporting one in every 170 housing units with a foreclosure filing — 1.3 times  the national average and 1.3 times the state average.

Multnomah County leads  the state in foreclosure activity for third quarter
  Multnomah County had the highest level of foreclosure activity in  the state, reporting 1,150 properties with foreclosure filings during the  quarter. Washington   County was second highest  in the state, reporting 964 properties with foreclosure filings. Third highest  total was tallied in Clackamas   County, where 843  properties with foreclosure filings were reported. Reporting 750 properties  with foreclosure filings for the quarter, Deschutes County  registered the fourth highest total in the state. Fifth highest was Marion County,  where 711 properties with foreclosure filings were reported for the quarter.

State a minor contributor to  nation’s foreclosure total in the third quarter
  Oregon accounted for 1 percent of the 610,337 properties  with foreclosure filings reported nationwide for the third quarter of 2011.  Total U.S.  activity was up slightly from the second quarter of 2011, but was down 34  percent from the level reported for the same quarter in 2010. One in every 213 U.S. housing  units received a foreclosure filing during the quarter.

“U.S.  foreclosure activity has been mired down since October of last year, when  the robo-signing controversy sparked a flurry  of investigations into lender foreclosure procedures and paperwork,” said  James Saccacio, chief executive  officer of RealtyTrac. “While foreclosure  activity in September and the third quarter continued to register well below levels  from a year ago, there is evidence  that this temporary downward trend is about to  change direction, with foreclosure activity slowly beginning to ramp back  up.”
  “Third quarter foreclosure activity increased marginally from the previous quarter, breaking a  trend of three consecutive quarterly  decreases that started in the fourth quarter of 2010,” Saccacio continued. “This marginal increase in overall  foreclosure activity was fueled by  a 14 percent jump in new default notices, indicating that lenders are cautiously throwing more wood into the  foreclosure fireplace after spending months trying  to clear the chimney of sloppily filed foreclosures.”

 

                                      Oregon Top Foreclosure Rates By County – Q3 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

94,849

101,029

163,962

53,967

196,530

610,337

213

n/a

n/a

Oregon

455

0

3,590

0

3,129

7,174

229

0.93

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

79

0

303

0

368

750

105

2.03

2.18

Jackson

27

0

278

0

263

568

156

1.36

1.46

Marion

83

0

221

0

407

711

170

1.25

1.34

Crook

0

0

22

0

35

57

181

1.18

1.26

Clackamas

69

0

426

0

348

843

183

1.17

1.25

 

              Oregon Top Foreclosure Totals by County – Q3 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 11

% Chg Q3 10

 

 

 

 

 

 

 

 

 

 

United States

94,849

101,029

163,962

53,967

196,530

610,337

213

0.35

-34.40

Oregon

455

0

3,590

0

3,129

7,174

229

-10.30

-42.27

 

 

 

 

 

 

 

 

 

 

Multnomah

50

0

674

0

426

1,150

275

-18.38

-50.09

Washington

58

0

575

0

331

964

216

7.11

-38.75

Clackamas

69

0

426

0

348

843

183

-19.94

-37.56

Deschutes

79

0

303

0

368

750

105

-9.31

-49.60

Marion

83

0

221

0

407

711

170

4.87

-14.44

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