{"id":13706,"date":"2010-12-17T10:31:30","date_gmt":"2010-12-17T18:31:30","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=13706"},"modified":"2010-12-17T10:31:30","modified_gmt":"2010-12-17T18:31:30","slug":"foreclosure-freeze-hides-actual-repossession-trend","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2010\/12\/17\/foreclosure-freeze-hides-actual-repossession-trend\/","title":{"rendered":"Foreclosure &#8220;Freeze&#8221; Hides Actual Repossession Trend"},"content":{"rendered":"<p>It&#8217;s time once again to expand on our <a href=\"http:\/\/seattlebubble.com\/blog\/2010\/12\/03\/november-stats-preview-25-off-sales-edition\/\" title=\"November Stats Preview: 25% Off Sale(s) Edition\">preview of foreclosure activity<\/a> with a more detailed look at November&#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;\">November 2010<\/span><br \/>\nKing: 890 NTS, <span style=\"font-weight:bold;\">up<\/span> 14% YOY<br \/>\nSnohomish: 461 NTS, <span style=\"font-weight:bold;\">up<\/span> 19% YOY<br \/>\nPierce: 590 NTS, <span style=\"font-weight:bold;\">up<\/span> 30% YOY<\/p><\/blockquote>\n<p>Even despite the &#8220;freeze&#8221; in foreclosures, all three counties still turned in year-over-year gains, since we&#8217;re currently comparing to the post-legislation lull in 2009.<\/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\/12\/17\/foreclosure-freeze-hides-actual-repossession-trend\/\"><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>Since the foreclosure &#8220;freeze&#8221; didn&#8217;t even last a full month, I suspect that we&#8217;ll shoot right back up to the recent trend in December.<\/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 919 households, Snohomish County had 1 NTS per 587 households, and Pierce had 1 NTS for every 539 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 November of one foreclosure for every 686 housing units was 17th hightest among the 50 states and the District of Columbia (down from 14th in October).  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\/12\/17\/foreclosure-freeze-hides-actual-repossession-trend\/\"><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>Up, down, up, down&#8230;<\/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 November&#8217;s stats in King, Snohomish, and Pierce counties. First up, the Notice of Trustee Sale summary: November 2010 King: 890 NTS, up 14% YOY Snohomish: 461 NTS, up 19% YOY Pierce: 590 NTS, up 30% YOY Even&#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-13706","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>Foreclosure &quot;Freeze&quot; Hides Actual Repossession Trend \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\/12\/17\/foreclosure-freeze-hides-actual-repossession-trend\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Foreclosure &quot;Freeze&quot; Hides Actual Repossession Trend \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 November&#8217;s stats in King, Snohomish, and Pierce counties. 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