Oregon Foreclosure Activity Rises in August

Filings increase 5 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 4,106 Oregon properties in August, a 5 percent increase from the previous month and a 16 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

“Oregon reported a slight increase in foreclosure filings in August, bringing activity to well above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Closely associated with the state’s foreclosure woes is its high unemployment rate, which still remains above the national average at 10.6 percent even with recent signs of improvement.”

 

The state reported the 13th highest state foreclosure rate, as one in every 397 Oregon housing units received a foreclosure filing during the month.

 

Crook County leads the state in foreclosure rate for August

Crook County, where one in every 160 housing units received a foreclosure filing during the month, posted the top foreclosure rate in Oregon. One in every 169 housing units received a foreclosure filing in Jefferson County, for the second highest rate in the state. Coming in third was Deschutes County, where one in every 175 housing units received a foreclosure filing in August. Fourth highest was Jackson County, where one in every 253 housing units received a foreclosure filing. Columbia County came in fifth, with one in every 265 housing units receiving a foreclosure filing during the month.

 

Multnomah County posts top foreclosure total for August

Multnomah County led Oregon in total foreclosure activity for August, reporting 745 properties with foreclosure filings. Washington County documented the second highest foreclosure activity, where 497 properties with foreclosure filings were reported. Deschutes County came in third, tallying 446 properties with foreclosure filings. Fourth highest was Clackamas County, where 440 properties with foreclosure filings were reported. Jackson County came in fifth, reporting 349 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Oregon 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.

 

 

Oregon 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

Oregon

58

0

2,468

0

1,580

4,106

397

0.96

n/a

 

 

 

 

 

 

 

 

 

 

Crook

0

0

42

0

22

64

160

2.38

2.48

Jefferson

0

0

38

0

20

58

169

2.25

2.35

Deschutes

1

0

252

0

193

446

175

2.18

2.27

Jackson

3

0

187

0

159

349

253

1.51

1.57

Columbia

2

0

40

0

33

75

265

1.44

1.50

 

 

Oregon 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

Oregon

58

0

2,468

0

1,580

4,106

397

4.85

15.56

 

 

 

 

 

 

 

 

 

 

Multnomah

11

0

479

0

255

745

422

-1.19

11.03

Washington

22

0

311

0

164

497

417

3.11

27.11

Deschutes

1

0

252

0

193

446

175

-8.42

0.00

Clackamas

7

0

239

0

194

440

348

-3.72

5.26

Jackson

3

0

187

0

159

349

253

6.08

4.49

 

 

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