Washington Foreclosure Activity Falls in October

Statewide filings down 13 percent  from September

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 2,684 Washington properties in  October, a 13 percent decrease from September and 58 percent below the level  reported for October 2010, according to the  latest RealtyTrac® U.S. Foreclosure Market Report.

Washington had the 28th highest foreclosure  rate in the nation, reporting one in every 1,049 housing units with a  foreclosure filing in October.

Grays Harbor County posts top foreclosure rate in the  state for October
  One in every 450 housing units in Grays Harbor County  had a foreclosure filing in October — 1.3 times the national average and 2.3  times the state average — the highest foreclosure rate of all Washington counties for the month. Cowlitz County  had the second highest rate of one in every 583 housing units with a  foreclosure filing during the month — on par with the national average and 1.8  times the state average. Clark County had the third highest rate of one in  every 586 housing units with a foreclosure filing during the month — on par  with the national average and 1.8 times the state average.

King County has state’s highest foreclosure total in  October
  King County tallied the highest level of foreclosure activity  in the state, reporting 718 properties with foreclosure filings for October. Pierce  County was second highest, reporting 515 properties with foreclosure filings. Snohomish  County was third, reporting 454 properties with foreclosure filings. Fourth  highest was Clark County, recording 279 properties with foreclosure filings. Thurston  County was fifth highest, tallying 97 properties with foreclosure filings for  the month.

State a minor contributor to total foreclosure  activity in October
  Washington accounted for 1 percent of the 230,678  properties with foreclosure filings reported nationwide in October. Total U.S. activity  increased by more than 7 percent from September, but was down nearly 31 percent  from the level reported in October 2010. One in every 563 U.S. housing units received  a foreclosure filing during the month.

“The October foreclosure numbers continue to show strong signs that  foreclosure activity is coming out of the rain delay we’ve been in for the past  year as lenders corrected foreclosure paperwork and processing problems,” said  James Saccacio, chief executive officer of RealtyTrac. “However, recent state  court rulings and new state laws keep changing the rules of the foreclosure  game on the fly, creating more uncertainty in the housing market and  threatening to prolong the road to a robust real estate recovery.”

Washington Top Foreclosure Rates By County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

n/a

n/a

Washington

0

0

904

0

1,780

2,684

1,049

0.54

n/a

 

 

 

 

 

 

 

 

 

 

Grays Harbor

0

0

9

0

69

78

450

1.25

2.33

Cowlitz

0

0

30

0

43

73

583

0.97

1.80

Clark

0

0

75

0

204

279

586

0.96

1.79

Snohomish

0

0

158

0

296

454

622

0.91

1.69

Pierce

0

0

171

0

344

515

627

0.90

1.67

 Washington Top Foreclosure Totals by County – October 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sep 11

% Chg Oct 10

 

 

 

 

 

 

 

 

 

 

United States

38,451

39,282

59,380

25,941

67,624

230,678

563

7.36

-30.55

Washington

0

0

904

0

1,780

2,684

1,049

-13.17

-57.71

 

 

 

 

 

 

 

 

 

 

King

0

0

250

0

468

718

1,168

-23.21

-62.19

Pierce

0

0

171

0

344

515

627

5.75

-51.73

Snohomish

0

0

158

0

296

454

622

-16.08

-58.50

Clark

0

0

75

0

204

279

586

13.41

-47.06

Thurston

0

0

60

0

37

97

1,072

212.90

-44.89

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