1. 
   Market Report - December 09
   
   
   • Treasure Valley Foreclosures Down 13% in November!
   • 3,954 Distressed Properties Currently Listed!

   595 Foreclosure Starts in September has been the lowest monthly total in foreclosure starts for the Treasure Valley so far in 2009. October rebounded significantly by 31% ending with 790 foreclosure starts. Last month in November Starts were down again by 13% ending with 690 notices filed for Ada and Canyon Counties.

   "The 13% drop from 790 starts in October to 690 starts in November was expected last month and in December we should see another slight drop with another 600 to 700 foreclosures being filed in the Treasure Valley." Idaho Data Providers.com President Charlie Nate said. "However, Idaho Data expects January to be a very heavy month with foreclosure starts significantly rising again."

   Ada & Canyon County Notice of Default Statistics

   Ada County Down 16% in November!

   494 Starts for October showed a sharp rebound over the second lowest 413 starts filed in September. However, November was back down 16% from October with only 415 defaults filed.

   Since January of 2009 a total of 4,919 new foreclosure starts have been filed in Ada County. This is up 295% from 2007 when 1,243 starts were filed during the same period and is up 79% from 2008 when 2,749 starts were filed.
   

   Foreclosure Rates Down 7% in Canyon County for November!
   

   November starts for Canyon County were down 7% with 275 defaults being filed compared to 296 filings in October. This coincides with the average 270-300 filings we have been seeing though out 2009 in Canyon County

   So far in 2009 a total of 3,090 new foreclosure starts have been filed in Canyon County. This is a 264% increase from 2007 when 848 starts were filed and a 63% increase over 2008 when 1,894 starts were filed in the same January through September period
   

   As the graph below illustrates, there has been another decline after October’s Spike

   

   Short Sales Show Slight Increase After First Decline in 17 Months!

   After the first decline in Short Sales in 17 months in October, November Short Sales are back up by 17 homes with a total of 2,718 Short Sales in the local real estate market. Idaho Data expects this plateau of 2,900 short sales to hold steady for the next few months

   
   

   New REO Listings Down 2%
   

   After the sharp 7.4% increase of REO listings in October, November REO’s are virtually unchanged down only 2% with 1,236 REO’s listed.

   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.

   
   

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