Oregon Foreclosures Up in 2010

Foreclosure filings increase 8 percent from 2009

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 36,958 Oregon properties for 2010, up 8 percent from a year ago and 105 percent above the level reported for 2008, according to the RealtyTrac® Year-End 2010 U.S. Foreclosure Market Report™.

 

Foreclosure filings were reported on 2,794 Oregon properties in December 2010, a 13 percent increase from November, but still 34 percent below the level reported in December 2009. One in every 583 Oregon housing units received a foreclosure filing during the month.

 

“Oregon foreclosure activity heated up considerably in 2010 to a level well above what was reported for 2009 and more than double what was reported for 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “With that said, the state’s economy appears to be improving from last year, which should eventually lead to a drop in foreclosure activity. While unemployment within the state remains high at 9.4 percent, that figure has dropped drastically from this time last year when joblessness was a staggering 10.6 percent.”

 

One in every 44 Oregon housing units received a foreclosure filing in 2010, the 12th highest state foreclosure rate in the nation for the year.

 

Deschutes County posts state’s top foreclosure rate in 2010

Deschutes County posted the highest foreclosure rate in Oregon in 2010, with one in every 17 housing units receiving a foreclosure filing — 2.6 times the state average. Crook County came in second, with one in every 27 housing units receiving a foreclosure filing in 2010 — 1.6 times the state average. The third highest was Jefferson County, where one in every 29 housing units received a foreclosure filings during the year — 1.5 times the state average.

 

Multnomah County led the state in foreclosure activity in 2010

Multnomah County led Oregon in foreclosure activity, reporting 6,645 properties with foreclosure filings. Washington County had the second highest foreclosure total, with 4,701 properties with foreclosure filings. Deschutes County was third highest, reporting 4,502 properties with foreclosure filings for the year. Clackamas County came in fourth, tallying 4,120 properties with foreclosure filings. Fifth highest total for the year was in Jackson County, where 2,857 properties with foreclosure filings were reported.

 

State a minor contributor to total foreclosure activity in 2010

Oregon accounted for 1 percent of the 2,871,891 properties with foreclosure filings reported nationwide for 2010. Total U.S. activity increased by almost 2 percent from 2009, and was more than 23 percent above the level reported in 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

n/a

n/a

Oregon

385

14

21,045

0

15,514

36,958

44

1.02

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

58

1

2,215

0

2,228

4,502

17

2.60

2.55

Crook

0

0

184

0

190

374

27

1.64

1.61

Jefferson

0

0

173

0

163

336

29

1.54

1.51

Jackson

29

2

1,574

0

1,252

2,857

31

1.45

1.43

Columbia

7

0

324

0

243

574

35

1.30

1.27

 

 

Oregon Top Foreclosure Totals by County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg 2009

% Chg 2008

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

1.67

23.23

Oregon

385

14

21,045

0

15,514

36,958

44

8.31

105.31

 

 

 

 

 

 

 

 

 

 

Multnomah

67

4

4,093

0

2,481

6,645

47

3.71

89.86

Washington

54

1

2,907

0

1,739

4,701

44

6.60

135.52

Deschutes

58

1

2,215

0

2,228

4,502

17

7.34

128.76

Clackamas

46

0

2,232

0

1,842

4,120

37

3.49

107.24

Jackson

29

2

1,574

0

1,252

2,857

31

5.08

65.82

 

 

 

Oregon Top Foreclosure Rates By County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

n/a

n/a

Oregon

37

0

1,908

0

849

2,794

583

0.86

n/a

 

 

 

 

 

 

 

 

 

 

Deschutes

4

0

170

0

138

312

250

2.01

2.34

Columbia

1

0

41

0

13

55

361

1.39

1.62

Crook

0

0

20

0

7

27

379

1.32

1.54

Jefferson

0

0

16

0

8

24

409

1.23

1.43

Polk

0

0

41

0

23

64

433

1.16

1.35

 

 

Oregon Top Foreclosure Totals by County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 10

% Chg Dec 09

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

-1.75

-26.26

Oregon

37

0

1,908

0

849

2,794

583

12.84

-34.07

 

 

 

 

 

 

 

 

 

 

Multnomah

2

0

326

0

162

490

641

10.86

-35.36

Washington

2

0

303

0

118

423

490

48.94

-19.43

Clackamas

3

0

234

0

101

338

453

31.52

-19.52

Deschutes

4

0

170

0

138

312

250

4.70

-41.57

Jackson

3

0

142

0

54

199

443

-7.01

-30.42

 

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