Foreclosure filings still an issue in Washington state

Staff writerJanuary 16, 2014 

FILE - Potential home buyers wait to look inside a 2,128-square-foot home in Lacey during a tour of foreclosure, short sale and bank-owned homes around Olympia area on Saturday, March 29, 2008. (Tony Overman/The Olympian)


Washington state continued to buck the national foreclosure trend in 2013, and not in a good way.

RealtyTrac, a national data firm, said Wednesday evening that last year the nation saw the fewest overall number of foreclosure filings since 2007. In Washington, the rate of foreclosure filings increased by almost 13 percent from 2012.

“Millions of homeowners are still living in the shadow of the massive foreclosure crisis that the country experienced over the past eight years,” said Daren Blomquist, vice president at RealtyTrac, in a news release, “both in the form of homes lost directly to foreclosure as well as home equity lost as a result of a flood of discounted distressed sales.”

According to the firm’s data, almost 1.4 million homes across the nation were in some stage of foreclosure last year. That’s 1 in every 96 homes.

Washington state had 34,117 homes in some stage of foreclosure in 2013, up almost 13 percent from the year before. The state’s foreclosure rate was 1 in 84 homes.

The state ranked No. 11 in the country in rate of foreclosure filing. Nos. 1 through 10 are Florida, Nevada, Illinois, Maryland, Ohio, Georgia, Connecticut, South Carolina, Arizona and Delaware.

Nationally, foreclosure starts and completions both were down about 30 percent from 2012.

Washington’s starts were down 3 percent, but completions were up 30 percent, with 14,978 homes being repossessed in 2013.

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