OREGON FORECLOSURES DOWN 13 PERCENT IN AUGUST

State’s Activity Still 12 Percent Higher Than a Year Ago

 

IRVINE, Calif. – August 31, 2006 – Oregon reported 526 properties entering some stage of the foreclosure process in August, a 13 percent drop in activity from the 603 properties reported in July, and 12 percent above the 470 properties reported for the same month last year, according to the RealtyTrac™ August 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and Knight Ridder Online.

 

Oregon has a strong job market and the number of foreclosures seems to be on the decline compared to last month,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, the state is reporting a higher rate of foreclosure activity compared to last year, possibly due in part to high energy prices and increased housing costs.”

 

Oregon ranked 27th in the country in total foreclosures reported for August. The state’s foreclosure rate of one new foreclosure filing for every 2,768 households — 36 percent of the national average — ranks it 28th among the 50 states.

 

Multnomah County reports highest foreclosure activity

Leading the state in foreclosures was Multnomah County, reporting 112 properties entering some stage of the foreclosure process. Clackamas County had the second highest total, reporting 63 properties entering some stage of the foreclosure process, followed by Washington County where 61 properties entered the foreclosure pipeline.

 

Highest foreclosure rate reported in Columbia County

Columbia County posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 1,098 households — 2.5 times the state average and 91 percent of the national average.  Reporting one new foreclosure filing for every 1,587 households — 1.7 times the state average and 63 percent of the national average — Josephine County had the second highest foreclosure rate in the state.

 

State has minimal impact on national total

Oregon‘s foreclosure activity accounted for less than 1 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

                                Oregon Foreclosure Market by County – August 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,611

45,704

7,328

21,533

20,116

115,292

1,003

Oregon

403

102

0

0

21

526

2,768

0.36

 

 

 

 

 

 

 

 

 

 

Baker

0

0

0

0

0

0

0.00

0.00

Benton

7

2

0

0

0

9

3,553

0.28

0.78

Clackamas

56

6

0

0

1

63

2,174

0.46

1.27

Clatsop

6

1

0

0

0

7

2,812

0.36

0.98

Columbia

15

0

0

0

1

16

1,098

0.91

2.52

Coos

5

3

0

0

1

9

3,250

0.31

0.85

Crook

0

0

0

0

0

0

0.00

0.00

Curry

0

0

0

0

0

0

0.00

0.00

Deschutes

14

2

0

0

1

17

3,211

0.31

0.86

Douglas

13

0

0

0

0

13

3,330

0.30

0.83

Jackson

23

5

0

0

0

28

2,705

0.37

1.02

Jefferson

0

0

0

0

0

0

0.00

0.00

Josephine

20

1

0

0

0

21

1,587

0.63

1.74

Klamath

0

2

0

0

1

3

9,628

0.10

0.29

Lake

0

0

0

0

0

0

0.00

0.00

Lane

33

4

0

0

2

39

3,563

0.28

0.78

Lincoln

0

5

0

0

0

5

5,378

0.19

0.51

Linn

18

7

0

0

0

25

1,821

0.55

1.52

Malheur

0

0

0

0

0

0

0.00

0.00

Marion

37

6

0

0

2

45

2,404

0.42

1.15

Multnomah

80

29

0

0

3

112

2,576

0.39

1.07

Polk

10

3

0

0

0

13

1,882

0.53

1.47

Tillamook

0

5

0

0

4

9

1,767

0.57

1.57

Umatilla

10

1

0

0

1

12

2,306

0.43

1.20

Union

0

1

0

0

0

1

10,603

0.09

0.26

Washington

43

15

0

0

3

61

2,933

0.34

0.94

Yamhill

13

4

0

0

1

18

1,682

0.60

1.65

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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