{"id":13265,"date":"2010-11-11T07:32:04","date_gmt":"2010-11-11T15:32:04","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=13265"},"modified":"2010-11-11T07:32:04","modified_gmt":"2010-11-11T15:32:04","slug":"foreclosures-still-climbing-pace-may-be-easing","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2010\/11\/11\/foreclosures-still-climbing-pace-may-be-easing\/","title":{"rendered":"Foreclosures Still Climbing, Pace May Be Easing"},"content":{"rendered":"<p>It&#8217;s time once again to expand on our <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/11\/01\/october-stats-preview-the-long-slow-slide-into-winter\/\" title=\"October Stats Preview: The Long Slow Slide into Winter\">preview of foreclosure activity<\/a> with a more detailed look at October&#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;\">October 2010<\/span><br \/>\nKing: 1,307 NTS, <span style=\"font-weight:bold;\">up<\/span> 96% YOY<br \/>\nSnohomish: 710 NTS, <span style=\"font-weight:bold;\">up<\/span> 120% YOY<br \/>\nPierce: 802 NTS, <span style=\"font-weight:bold;\">up<\/span> 108% YOY<\/p><\/blockquote>\n<p>Note that until we get to next March, our year-over-year comparisons are going to be extremely high due to the lull that we saw last year after the new state foreclosure laws went into effect.<\/p>\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\/11\/11\/foreclosures-still-climbing-pace-may-be-easing\/\"><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>Same basic story we&#8217;ve been telling for the last two years.  Month-to-month zig-zags, but an overall steady climb upward.  It&#8217;s difficult to tell due to the distortion in 2009&#8217;s data, but the rate of increase <em>may<\/em> be tapering off somewhat.<\/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 625 households, Snohomish County had 1 NTS per 381 households, and Pierce had 1 NTS for every 396 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 October of one foreclosure for every 440 housing units was 14th hightest among the 50 states and the District of Columbia (same as July, August, and September).  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\/11\/11\/foreclosures-still-climbing-pace-may-be-easing\/\"><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 are still slightly below their June and July highs, but up notably from August.<\/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 October&#8217;s stats in King, Snohomish, and Pierce counties. First up, the Notice of Trustee Sale summary: October 2010 King: 1,307 NTS, up 96% YOY Snohomish: 710 NTS, up 120% YOY Pierce: 802 NTS, up 108% YOY Note&#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-13265","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 Climbing, Pace May Be Easing \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\/11\/11\/foreclosures-still-climbing-pace-may-be-easing\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Foreclosures Still Climbing, Pace May Be Easing \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 October&#8217;s stats in King, Snohomish, and Pierce counties. 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