{"id":12875,"date":"2010-10-14T07:00:09","date_gmt":"2010-10-14T14:00:09","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=12875"},"modified":"2010-10-13T17:30:44","modified_gmt":"2010-10-14T00:30:44","slug":"foreclosures-still-elevated-show-no-sign-of-slowing","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2010\/10\/14\/foreclosures-still-elevated-show-no-sign-of-slowing\/","title":{"rendered":"Foreclosures Still Elevated, Show No Sign of Slowing"},"content":{"rendered":"<p>It&#8217;s time once again to expand on our <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/10\/01\/september-stats-preview-falling-into-fall-edition\/\" title=\"September Stats Preview: Falling Into Fall Edition\">preview of foreclosure activity<\/a> with a more detailed look at September&#8217;s stats in King, Snohomish, and Pierce counties.  First up, the Notice of Trustee Sale summary:<\/p>\n<blockquote><p><span style=\"text-decoration: underline;\">September 2010<\/span><br \/>\nKing: 1,297 NTS, <span style=\"font-weight:bold;\">up<\/span> 63% YOY<br \/>\nSnohomish: 624 NTS, <span style=\"font-weight:bold;\">up<\/span> 48% YOY<br \/>\nPierce: 727 NTS, <span style=\"font-weight:bold;\">up<\/span> 52% YOY<\/p><\/blockquote>\n<p>Here&#8217;s your interactive Tableau dashboard updated with the latest foreclosure data:<\/p>\n<div style=\"width: 600px; height: 690px; margin: 0 auto;\">\n<script type=\"text\/javascript\" src=\"http:\/\/public.tableausoftware.com\/javascripts\/api\/viz_v1.js\"><\/script><object class=\"tableauViz\" width=\"604\" height=\"669\" style=\"display:none;\"><param name=\"name\" value=\"Seattle-AreaForeclosures\/ForeclosureDash\" \/><param name=\"toolbar\" value=\"yes\" \/><\/object><noscript>Foreclosure Dash<br \/><a href=\"http:\/\/seattlebubble.com\/blog\/2010\/10\/14\/foreclosures-still-elevated-show-no-sign-of-slowing\/\"><img loading=\"lazy\" decoding=\"async\" alt=\"Foreclosure Dash \" src=\"http:\/\/public.tableausoftware.com\/static\/images\/Seattle-AreaForeclosures-ForeclosureDash_rss.png\" height=\"620\" width=\"584\" style=\"border:0;\" \/><\/a><\/noscript><\/p>\n<div style=\"width:604px;height:22px;padding:0px 10px 0px 0px; color:black;font:normal 8pt verdana,helvetica,arial,sans-serif;\">\n<div style=\"float:right; padding-right:8px;\"><a href=\"http:\/\/www.tableausoftware.com\/public?ref=http:\/\/public.tableausoftware.com\/views\/Seattle-AreaForeclosures\/ForeclosureDash\" target=\"_blank\">Powered by Tableau<\/a><\/div>\n<\/div>\n<\/div>\n<p>Foreclosure notices are still rising fairly rapidly year-over-year.  Nothing much more to say, since it&#8217;s just more of the same thing we&#8217;ve been seeing for years now.<\/p>\n<p>The percentage of households in the chart above is determined using <a href=\"http:\/\/www.ofm.wa.gov\/pop\/estimates.asp\" title=\"OFM: Population Estimates &#038; Forecasts\">OFM population estimates<\/a> and household sizes from the 2000 Census.  King County came in at 1 NTS per 629 households, Snohomish County had 1 NTS per 437 households, and Pierce had 1 NTS for every 433 households (higher is better).<\/p>\n<p>According to <a href=\"http:\/\/www.realtytrac.com\/contentmanagement\/\" title=\"RealtyTrac news releases\">foreclosure tracking company RealtyTrac<\/a>, Washington&#8217;s statewide foreclosure rate for August of one foreclosure for every 158 housing units was 14th worst among the 50 states and the District of Columbia (same as July and August).  Note that RealtyTrac&#8217;s definition of &#8220;in foreclosure&#8221; is much broader than what we are using, and includes Notice of Default, Lis Pendens, Notice of Trustee Sale, and Real Estate Owned.<\/p>\n<p>Hit the jump for a larger version of the chart that shows the percentage of households in each county receiving a foreclosure notice each month:<\/p>\n<p><!--more--><\/p>\n<div style=\"width: 600px; height: 690px; margin: 0 auto;\">\n<script type=\"text\/javascript\" src=\"http:\/\/public.tableausoftware.com\/javascripts\/api\/viz_v1.js\"><\/script><object class=\"tableauViz\" width=\"604\" height=\"669\" style=\"display:none;\"><param name=\"name\" value=\"Seattle-AreaForeclosures\/ofHouseholdsReceivingNTSes\" \/><param name=\"toolbar\" value=\"yes\" \/><\/object><noscript>% of Households Receiving NTSes <br \/><a href=\"http:\/\/seattlebubble.com\/blog\/2010\/10\/14\/foreclosures-still-elevated-show-no-sign-of-slowing\/\"><img loading=\"lazy\" decoding=\"async\" alt=\"% of Households Receiving NTSes \" src=\"http:\/\/public.tableausoftware.com\/static\/images\/Seattle-AreaForeclosures-ofHouseholdsReceivingNTSes_rss.png\" height=\"620\" width=\"584\" style=\"border:0;\" \/><\/a><\/noscript><\/p>\n<div style=\"width:604px;height:22px;padding:0px 10px 0px 0px; color:black;font:normal 8pt verdana,helvetica,arial,sans-serif;\">\n<div style=\"float:right; padding-right:8px;\"><a href=\"http:\/\/www.tableausoftware.com\/public?ref=http:\/\/public.tableausoftware.com\/views\/Seattle-AreaForeclosures\/ofHouseholdsReceivingNTSes\" target=\"_blank\">Powered by Tableau<\/a><\/div>\n<\/div>\n<\/div>\n<p>All three counties have backed slightly off their June and July highs, but not to a significant degree that makes me think we&#8217;re seeing the beginning of a new long-term trend just yet.<\/p>\n<p>Please resist the urge to get into the subject of the national foreclosure processing mess in the comments on this post.  I am working on a post dedicated to that subject for tomorrow, so save your remarks for then.  Thanks!<\/p>\n<p style=\"font-size: 85%;\"><b>Note:<\/b> The graphs above are derived from monthly Notice of Trustee Sale counts gathered at <a title=\"King County Recorder's Office\" href=\"http:\/\/www.metrokc.gov\/recelec\/records\/\">King<\/a>, <a title=\"Snohomish County Auditor\" href=\"http:\/\/198.238.192.100\/localization\/menu.asp\">Snohomish<\/a>, and <a title=\"Pierce County Auditor\" href=\"http:\/\/hartweb.co.pierce.wa.us\/localization\/menu.asp\">Pierce<\/a> County records.  For a longer-term picture of King County foreclosures back to 1979, <a href=\"http:\/\/public.tableausoftware.com\/views\/Seattle-AreaForeclosures\/KingCountyForeclosures\" title=\"King County Notices of Trustee Sale\">hit this chart<\/a> and drag the date slider to its full range.  For the full legal definition of what a Notice of Trustee Sale is and how it fits into the foreclosure process, check out <a href=\"http:\/\/apps.leg.wa.gov\/RCW\/default.aspx?Cite=61.24.040\">RCW 61.24.040<\/a>.  The short version is that it is the notice sent to delinquent borrowers that their home will be repossessed in 90 days.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s time once again to expand on our preview of foreclosure activity with a more detailed look at September&#8217;s stats in King, Snohomish, and Pierce counties. First up, the Notice of Trustee Sale summary: September 2010 King: 1,297 NTS, up 63% YOY Snohomish: 624 NTS, up 48% YOY Pierce: 727 NTS, up 52% YOY Here&#8217;s&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[8,616],"tags":[7,58,419,259,169,531,570],"coauthors":[],"class_list":["post-12875","post","type-post","status-publish","format-standard","hentry","category-stats","category-counties","tag-foreclosures","tag-king_county","tag-notice-of-trustee-sale","tag-pierce","tag-snohomish","tag-tableau","tag-trustee-deeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Foreclosures Still Elevated, Show No Sign of Slowing \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2010\/10\/14\/foreclosures-still-elevated-show-no-sign-of-slowing\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Foreclosures Still Elevated, Show No Sign of Slowing \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"It&#8217;s time once again to expand on our preview of foreclosure activity with a more detailed look at September&#8217;s stats in King, Snohomish, and Pierce counties. 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