Oregon Foreclosure Activity Falls in October

Foreclosure filings down 19 percent from September

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 3,742 Oregon properties in October, a 19 percent decrease from the previous month, but still up 18 percent from the level reported in October 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity fell significantly in Oregon in October, though it remained well above the level reported for 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, Oregon and many other states will likely see additional months of declining foreclosure activity.”

 

One in every 435 Oregon housing units received a foreclosure filing in October, the 13th highest foreclosure rate in the nation.

 

Deschutes County posts state’s top foreclosure rate for October

Deschutes County posted the highest county foreclosure rate in Oregon for the month, with one in every 165 housing units receiving a foreclosure filing during October — 2.6 times the state average. Crook County registered the second highest foreclosure rate, with one in every 263 housing units receiving a foreclosure filing during the month — 1.7 times the state average. Columbia County was third highest, with one in every 310 housing units receiving a foreclosure filing.

 

Multnomah County led the state in foreclosure activity in October

Multnomah County had the top foreclosure total, reporting 672 properties with foreclosure filings for the month. Deschutes County tallied the second highest foreclosure level in the state, reporting 472 properties with foreclosure filings. Third highest total was in Washington County, where 454 properties with foreclosure filings were reported. Fourth highest was Clackamas County, where 381 properties with foreclosure filings were reported. Marion County was in fifth, tallying 286 properties with foreclosure filings. 

 

State a minor contributor to nation’s monthly foreclosure total

Oregon 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.

 

Oregon 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

Oregon

36

0

2,334

0

1,372

3,742

435

0.89

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

5

0

248

0

219

472

165

2.35

2.64

Crook

0

0

21

0

18

39

263

1.48

1.66

Columbia

0

0

42

0

22

64

310

1.25

1.40

Yamhill

1

0

81

0

28

110

332

1.17

1.31

Jackson

4

0

154

0

106

264

334

1.16

1.30

 

 

Oregon 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

Oregon

36

0

2,334

0

1,372

3,742

435

-19.09

18.42

 

 

 

 

 

 

 

 

 

 

Multnomah

6

0

436

0

230

672

468

-20.28

17.07

Deschutes

5

0

248

0

219

472

165

-17.91

-9.23

Washington

1

0

295

0

158

454

457

-26.30

41.43

Clackamas

3

0

225

0

153

381

402

-20.79

-2.56

Marion

6

0

180

0

100

286

421

-13.86

22.75

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved