OREGON FORECLOSURES INCREASE 21 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 11 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 11, 2006 – Oregon reported 635 properties entering some stage of the foreclosure process in September, up 21 percent from the 526 properties reported in August, and an 11 percent increase from the 570 properties reported for the same month last year, according to the RealtyTrac™ September 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

 

“Even with the recent increase in foreclosure activity within the state, Oregon’s mortgage credit quality remains better than most of the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “Oregon continues to report robust job growth and the pace of that growth appears to be accelerating.”

 

Oregon ranked 25th in the country in total foreclosures reported for September. The state’s foreclosure rate of one new foreclosure filing for every 2,293 households — well below the national average — ranks it 28th among the 50 states.

 

Multnomah County tops in foreclosure activity

Multnomah County had the largest share of foreclosures in the state for September, reporting 144 properties entering some stage of the foreclosure process. Marion County had the second highest total, reporting 92 properties entering some stage of foreclosure. Third highest was Lane County, reporting 79 properties in foreclosure.

 

Highest foreclosure rate reported in Linn County

Linn County posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 859 households — 2.7 times the state average and 1.2 times the national average.  Reporting one new foreclosure filing for every 1,165 households — twice the state average and below the national average — Polk County had the second highest foreclosure rate in the state. Marion County had the third highest rate, reporting one new foreclosure filing for every 1,176 households — also twice the state average and below the national average.

 

Oregon makes small contribution to national total

Oregon’s foreclosure activity accounted for less than 1 percent of the 112,210 properties entering some stage of foreclosure nationwide in September. The national total represents an almost 1 percent decrease in activity from the 113,300 foreclosures reported in August. The national foreclosure rate increased to one new foreclosure filing for every 1,030 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 – September 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

25,379

43,840

6,285

19,338

17,368

112,210

1,030

Oregon

148

456

0

0

31

635

2,293

0.45

 

 

 

 

 

 

 

 

 

 

Baker

0

0

0

0

0

0

0.00

0.00

Benton

1

9

0

0

0

10

3,198

0.32

0.72

Clackamas

7

35

0

0

0

42

3,261

0.32

0.70

Clatsop

0

11

0

0

0

11

1,790

0.58

1.28

Columbia

1

5

0

0

0

6

2,929

0.35

0.78

Coos

1

0

0

0

1

2

14,624

0.07

0.16

Crook

0

0

0

0

0

0

0.00

0.00

Curry

0

0

0

0

0

0

0.00

0.00

Deschutes

4

11

0

0

1

16

3,411

0.30

0.67

Douglas

12

2

0

0

0

14

3,092

0.33

0.74

Hood River

0

1

0

0

0

1

7,818

0.13

0.29

Jackson

2

35

0

0

1

38

1,993

0.52

1.15

Jefferson

0

0

0

0

0

0

0.00

0.00

Josephine

10

5

0

0

1

16

2,083

0.49

1.10

Klamath

0

10

0

0

1

11

2,626

0.39

0.87

Lane

15

61

0

0

3

79

1,759

0.59

1.30

Lincoln

0

4

0

0

0

4

6,722

0.15

0.34

Linn

10

40

0

0

3

53

859

1.20

2.67

Malheur

0

0

0

0

0

0

0.00

0.00

Marion

26

65

0

0

1

92

1,176

0.88

1.95

Multnomah

45

89

0

0

10

144

2,004

0.51

1.14

Polk

10

10

0

0

1

21

1,165

0.88

1.97

Tillamook

0

2

0

0

1

3

5,302

0.19

0.43

Umatilla

0

12

0

0

4

16

1,730

0.60

1.33

Wasco

0

0

0

0

0

0

0.00

0.00

Washington

3

27

0

0

2

32

5,591

0.18

0.41

Yamhill

1

22

0

0

1

24

1,261

0.82

1.82

 

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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