Whatcom County foreclosure filings continue to decrease

THE BELLINGHAM HERALDApril 9, 2014 

Foreclosure filings in Whatcom County have dramatically slowed down the past year.

For the first quarter of 2014, the area had 64 foreclosure filings, according to a new report from RealtyTrac, an online database for properties. That's down from 266 filings in the first quarter of 2013, according to the data.

The first quarter 2014 total is nearly identical to the fourth quarter 2013 total.

The latest first-quarter filings equate to one in every 1,415 Whatcom County housing units receiving a foreclosure notice. The state rate last quarter was one in every 458 units, while the national rate was one in every 385 units.

Across the U.S., a total of 341,670 foreclosure notices were sent out last quarter, down 23 percent compared to the first quarter of 2013.

RealtyTrac's report also found that 51 percent of bank-owned properties were still occupied by the former homeowner or a tenant. Metros with the highest percentage of occupied bank open properties included Nashville, Tenn. (80 percent) and Richmond, Va. (80 percent).

Florida, Maryland and Nevada were the states with the highest foreclosure rates in the first quarter of 2014, while Washington ranked 19th.

Reach Business Editor Dave Gallagher at 360-715-2269 or dave.gallagher@bellinghamherald.com. Read the Business Blog at bellinghamherald.com/business-blog or get updates on Twitter at @bhamheraldbiz.

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