OREGON FORECLOSURES INCREASE 22 PERCENT IN OCTOBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State Activity Level Up 72 Percent From a Year Ago

 

IRVINE, Calif. – Nov. 10, 2006 – Oregon reported 777 properties entering some stage of the foreclosure process in October, a 22 percent increase from the 635 properties reported in September, and a 72 percent increase from the 453 properties reported for the same month last year, according to the RealtyTrac™ October 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

Oregon foreclosures have increased both in October and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although recent home price appreciation in Bend ranks highest in the nation, the rest of the state has experienced a weakening housing market. This has very likely contributed to the overall rise in foreclosures we’re seeing.”

 

Oregon ranked 25th in the country in total foreclosures reported for October. The state’s foreclosure rate of one new foreclosure filing for every 1,874 households — half the national average — ranks it 21st among the 50 states.

 

Multnomah County makes largest single contribution to state total

Multnomah County led the state in activity, reporting 161 properties entering some stage of the foreclosure process during the month. Reporting 90 properties entering some stage of the foreclosure process, Washington County had the second highest total for the month, followed by Marion County with 82 properties entering the foreclosure pipeline. 

 

Columbia County posts state’s top foreclosure rate

Columbia County posted the top foreclosure rate in the state for October, reporting one new foreclosure filing for every 879 households — 2.1 times the state average and 1.1 times the national average. Reporting one new foreclosure filing for every 954 households — twice the state average and 1.1 times the national average — Umatilla County had the second highest foreclosure rate, followed by Linn County with one new foreclosure filing for every 1,059 households — 1.8 times the state average.

 

State has minor impact on national total

Oregon’s foreclosure activity accounted for less then 1 percent of the 115,568 properties entering some stage of foreclosure nationwide in October. The national total represents a 3 percent increase from the 112,210 foreclosures reported in September. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,001 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 – October 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,731

42,375

5,799

18,895

20,768

115,568

1,001

n/a

n/a

Oregon

54

681

0

0

42

777

1,874

0.53

n/a

 

 

 

 

 

 

 

 

 

 

Baker

0

0

0

0

0

0

 n/a

0.00

0.00

Benton

0

11

0

0

1

12

2,665

0.38

0.70

Clackamas

1

69

0

0

1

71

1,929

0.52

0.97

Clatsop

1

8

0

0

0

9

2,187

0.46

0.86

Columbia

0

20

0

0

0

20

879

1.14

2.13

Coos

0

12

0

0

2

14

2,089

0.48

0.90

Crook

0

0

0

0

0

0

 n/a

0.00

0.00

Curry

0

0

0

0

0

0

 n/a

0.00

0.00

Deschutes

5

14

0

0

2

21

2,599

0.38

0.72

Douglas

11

4

0

0

1

16

2,705

0.37

0.69

Harney

0

0

0

0

0

0

 n/a

0.00

0.00

Hood River

0

1

0

0

0

1

7,818

0.13

0.24

Jackson

2

29

0

0

2

33

2,295

0.44

0.82

Jefferson

0

1

0

0

0

1

8,319

0.12

0.23

Josephine

11

7

0

0

2

20

1,666

0.60

1.12

Klamath

0

16

0

0

0

16

1,805

0.55

1.04

Lake

0

0

0

0

0

0

 n/a

0.00

0.00

Lane

1

76

0

0

3

80

1,737

0.58

1.08

Lincoln

0

5

0

0

0

5

5,378

0.19

0.35

Linn

1

42

0

0

0

43

1,059

0.95

1.77

Malheur

0

1

0

0

0

1

11,223

0.09

0.17

Marion

3

75

0

0

4

82

1,319

0.76

1.42

Morrow

0

2

0

0

0

2

2,138

0.47

0.88

Multnomah

15

128

0

0

18

161

1,792

0.56

1.05

Polk

0

16

0

0

1

17

1,439

0.70

1.30

Tillamook

0

5

0

0

0

5

3,181

0.31

0.59

Umatilla

0

27

0

0

2

29

954

1.05

1.96

Union

0

2

0

0

0

2

5,302

0.19

0.35

Wallowa

0

0

0

0

0

0

 n/a

0.00

0.00

Wasco

0

1

0

0

0

1

10,651

0.09

0.18

Washington

2

85

0

0

3

90

1,988

0.50

0.94

Wheeler

0

0

0

0

0

0

 n/a

0.00

0.00

Yamhill

1

24

0

0

0

25

1,211

0.83

1.55

 

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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