WASHINGTON FORECLOSURES DECREASE 10 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Up 66 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Washington reported 1,440 properties entering some stage of the foreclosure process in November, a 10 percent decrease from the 1,595 properties reported in October, but still a 66 percent gain from the 870 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

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

 

“Although Washington’s foreclosure activity is still elevated compared to last year, the state is starting to see some improvement as it continues to report robust and accelerated job growth,” said James J. Saccacio, chief executive officer of RealtyTrac. “Mortgage credit quality is still strong within the state, though subprime adjustable-rate mortgage delinquencies have increased slightly due to rising interest rates.”

 

Washington ranked 19th in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 1,661 households — 0.58 times the national average — ranks it 23rd among the 50 states.

 

King, Pierce, Snohomish counties lead state in activity

Three counties accounted for 59 percent of all foreclosure activity in Washington for November. King County led the state reporting 398 properties entering some stage of the foreclosure process during the month. Pierce County registered the second highest total, reporting 274 properties in some stage of the foreclosure process for the month, followed by Snohomish County reporting the third highest total with 179 properties in the foreclosure pipeline.

 

Mason County posts state’s top foreclosure rate

Mason County posted the top foreclosure rate in the state for November, reporting one new foreclosure filing for every 690 households — 2.4 times the state average and 1.4 times the national average. Next highest was Thurston County reporting one new foreclosure filing for every 717 households — 2.3 times the state average and 1.3 times the national average. The third highest rate in the state was found in Cowlitz County, which reported one new foreclosure filing for every 966 households — 1.7 times the state average and 1.0 times the national average.

 

State total has little impact on national total

Washington’s foreclosure activity accounted for just over 1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                 Washington Foreclosure Market by County – November 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Washington

23

1,322

0

0

95

1,440

1,661

0.58

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

2

0

0

0

2

2,887

0.33

0.57

Benton

2

47

0

0

2

51

1,097

0.87

1.51

Chelan

0

13

0

0

1

14

2,172

0.44

0.76

Clallam

0

4

0

0

0

4

7,671

0.12

0.21

Clark

0

57

0

0

5

62

2,162

0.44

0.76

Columbia

0

0

0

0

0

0

n/a

0.00

0.00

Cowlitz

0

33

0

0

7

40

966

0.99

1.72

Douglas

0

4

0

0

0

4

3,236

0.29

0.51

Ferry

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

7

0

0

1

8

2,011

0.47

0.82

Garfield

0

0

0

0

0

0

n/a

0.00

0.00

Grant

0

1

0

0

0

1

29,081

0.03

0.05

Grays Harbor

1

1

0

0

0

2

16,245

0.05

0.10

Island

0

11

0

0

0

11

2,943

0.32

0.56

Jefferson

0

7

0

0

0

7

2,021

0.47

0.82

King

6

377

0

0

15

398

1,865

0.51

0.89

Kitsap

2

55

0

0

4

61

1,519

0.63

1.09

Kittitas

0

2

0

0

0

2

8,238

0.11

0.20

Klickitat

0

0

0

0

0

0

n/a

0.00

0.00

Lewis

0

18

0

0

2

20

1,479

0.65

1.12

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Mason

0

34

0

0

3

37

690

1.39

2.40

Okanogan

0

4

0

0

0

4

4,771

0.20

0.34

Pacific

0

2

0

0

0

2

6,996

0.13

0.23

Pend Oreille

0

0

0

0

0

0

n/a

0.00

0.00

Pierce

2

243

0

0

29

274

1,011

0.95

1.64

San Juan

0

2

0

0

0

2

4,876

0.19

0.34

Skagit

0

32

0

0

1

33

1,293

0.74

1.28

Skamania

0

0

0

0

0

0

n/a

0.00

0.00

Snohomish

3

172

0

0

4

179

1,320

0.72

1.25

Spokane

0

85

0

0

11

96

1,823

0.52

0.91

Stevens

0

1

0

0

0

1

17,599

0.05

0.09

Thurston

1

33

0

0

4

38

717

1.33

2.31

Walla Walla

0

0

0

0

0

0

n/a

0.00

0.00

Whatcom

0

22

0

0

0

22

3,359

0.28

0.49

Whitman

0

6

0

0

0

6

2,779

0.34

0.59

Yakima

6

47

0

0

6

59

1,342

0.71

1.23

 

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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