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   Market Report - November 2009
   
   · Treasure Valley Foreclosures Up After Two Month Decline!

   · Short Sales Down 3.8% REO's up 7.4%

   · Total Distressed Property Listings Remain Unchanged!

   After two straight months of decline in foreclosure starts the months of August and September were down a combined total 29% from the peak 819 Starts filed in July. However, October is back up 31% over September with a total of 790 foreclosure starts being filed in Ada and Canyon Counties.

   "After seeing the 31% increase in October this brings foreclosure starts back up to the consistent plateau that we have been seeing throughout 2009. Historically in the past years we see a general seasonal slow down in the months of November and December and so we should see between 600 and 700 starts being filed in each of the next two months. This should give the local real estate community some time to clear some of these distressed properties off the market as January could very well bring another huge spike in distressed properties." Idaho Data Providers.com President Charlie Nate said

   Ada & Canyon County Notice of Default Statistics
   
   Ada County Foreclosures up 19%
   
   After two months of decline with September experiencing 413 new foreclosures the lowest monthly total of foreclosure starts since last January. October is back up 19% with 494 starts filed
   
   Since January of 2009 a total of 4,504 new foreclosure starts have been filed in Ada County. This is up 311% from 2007 when 1095 starts were filed during the same period and is up 78% from 2008 when 2,528 starts were filed. .
   
   Foreclosure Rates Up 53% in Canyon County for October!
   

   After being down a substantial 41% last month with only 193 new filings Canyon County rebounded significantly in October with 296 filings which is a 53% increase! This brings foreclosure starts back up to the level previously seen throughout 2009 with 280 - 300 filings each month

   So far in 2009 a total of 2,815 new foreclosure starts have been filed in Canyon County. This is a 284% increase from 2007 when 732 starts were filed and a 65% increase over 2008 when 1,709 starts were filed in the same January through September period.

   As the graph below illustrates, there was a sharp rebound after two consecutive months of decline in foreclosure starts in both counties!

   
   

   October Shows First Decline In Short Sale Listings Since May 08!

   After sharp increases month over month in early 2009, the increase in short sale listings has leveled off in the past few months only seeing slight increases. October saw the first decline in short sale listings since May of 2008! Although still a very high total of 2,701 short sale listings October was down 3.8% from September's 2,804 listings.

   
   

   New REO Listings Up 7.4%
   
   Increasing every month since May, REO listings saw their biggest spike so far in 2009! October had a total of 1,255 bank owned properties listed which is a 7.4% increase.
   
   Lender REO (Real Estate Owned) properties are those that the lender obtains title to after a foreclosure auction when no one else buys the property at auction. When a REO property is then listed by the lender, it is usually sold at a discount off of market value. These discounted properties are similar to short sales by having the effect of depressing overall market prices
   
   
   

   Total Distressed Listings Hold Steady at 3,956 Listings!

   The reduction in Short Sales was made up for by the increase in REO'S resulting in total distressed listings remaining virtually unchanged in October. Total distressed listings are 3,956 slightly down .04% from September's 3,972 total distressed listings.

   
   
   
   

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