Oregon Foreclosures Decline in November

Foreclosure filings down 34 percent from October

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,476 Oregon properties in November, down 34 percent from the previous month and a 13 percent drop from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

Oregon foreclosures were down in November,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in bank-owned properties, which fell 48 percent for the month. This decline is partly seasonal and most likely associated to the ‘robo-signing’ controversy that has lenders and servicers halting foreclosure processing in the short run in order to get their documentation in order.”

Oregon ranked 25th in the nation in total foreclosures reported in November. Its foreclosure rate of one in every 658 housing units receiving a foreclosure filing during the month, ranked it 15th among the 50 states.

Deschutes County achieves top foreclosure rate honors in November

Deschutes County posted the highest foreclosure rate in Oregon for November, with one in every 261 housing units receiving a foreclosure filing — 1.9 times the national average and 2.5 times the state average. Crook County reported the second highest foreclosure rate in Oregon, with one in every 270 housing units receiving a foreclosure filing for the month — 1.8 times the national average and 2.4 times the state average. Klamath County came in third, with one in every 376 housing units receiving a foreclosure filing.

 

Multnomah County dominates state foreclosure activity in November

Foreclosure activity was heaviest in Multnomah County, which reported 442 properties with foreclosure filings for the month. Deschutes County tallied the second highest foreclosure level, reporting 298 properties with foreclosure filings. Third highest total was in Washington County, where 284 properties with foreclosure filings were reported. Fourth highest was Clackamas County, where 257 properties with foreclosure filings were reported. Jackson County filled out the top five for the month, reporting 214 properties with foreclosure filings.

 

State contributes 1 percent to nation’s foreclosure total

Oregon accounted for 1 percent of the 262,339 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 21 percent from the previous month, and was down more than 14 percent from the level reported in November 2009. One in every 492 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 – November 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

n/a

n/a

Oregon

43

0

1,715

0

718

2,476

658

0.75

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

2

0

182

0

114

298

261

1.88

2.52

Crook

0

0

25

0

13

38

270

1.83

2.44

Klamath

2

0

59

0

23

84

376

1.31

1.75

Jefferson

0

0

19

0

5

24

409

1.20

1.61

Jackson

4

0

131

0

79

214

412

1.19

1.60

 

 

Oregon Top Foreclosure Totals by County – November 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 10

% Chg Nov 09

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

-21.02

-14.44

Oregon

43

0

1,715

0

718

2,476

658

-33.83

-13.27

 

 

 

 

 

 

 

 

 

 

Multnomah

4

0

309

0

129

442

711

-34.23

-5.96

Deschutes

2

0

182

0

114

298

261

-36.86

-19.89

Washington

0

0

222

0

62

284

730

-37.44

-20.22

Clackamas

24

0

167

0

66

257

596

-32.55

-11.38

Jackson

4

0

131

0

79

214

412

-18.94

-3.17

 

 

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