KANSAS FORECLOSURES INCREASE 30 PERCENT IN OCTOBER

ACORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State Activity Level Soars 320 Percent From a Year Ago

 

IRVINE, Calif. – Nov. 10, 2006 – Kansas reported 416 properties entering some stage of the foreclosure process in October, a 30 percent increase from the 321 properties reported in September, and soaring 320 percent above the 99 properties reported for the same month last year, according to the RealtyTrac™ October 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

Kansas foreclosures have increased significantly both in October and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Job losses in several sectors, and expanding drought conditions throughout much of the state are likely contributing to the rise in foreclosure we are seeing.”

 

Kansas ranked 31st in the country in total foreclosures reported for October. The state’s foreclosure rate of one new foreclosure filing for every 2,711 households — 1.4 times the national average — ranks it 30th among the 50 states.

 

Sedgwick County posts state’s highest foreclosure total

Sedgwick County led the state in foreclosures for October, reporting 123 properties entering some stage of the foreclosure process. Reporting 119 properties entering some stage of the foreclosure process for the month, Wyandotte County had the second highest total, followed by Johnson County where 100 properties entered some stage of the foreclosure process. 

 

Wyandotte County leads state in foreclosure rate

Wyandotte County posted the top foreclosure rate in the state for October, reporting one new foreclosure filing for every 554 households — 4.9 times the state average and 1.8 times the national average. Reporting one new foreclosure filing for every 1,435 households — 1.9 times the state average — Leavenworth County had the second highest foreclosure rate. Sedgwick County completed the top three with one new foreclosure filing for every 1,554 households —1.7 times the state average.

 

State makes minor contribution to national total

Kansas’ foreclosure activity accounted for less than 1 percent of the 115,568 properties entering some stage of foreclosure nationwide in October. The national total represents a 3 percent increase from the 112,210 foreclosures reported in September. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,001 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank).

 

                                                 Kansas Foreclosure Market by County – October 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,731

42,375

5,799

18,895

20,768

115,568

1,001

n/a

n/a

Kansas

151

257

0

0

8

416

2,711

0.37

n/a

 

 

 

 

 

 

 

 

 

 

Allen

0

0

0

0

0

0

n/a

0.00

0.00

Barton

0

1

0

0

0

1

12,888

0.08

0.21

Butler

0

0

0

0

0

0

 n/a

0.00

0.00

Cherokee

0

0

0

0

0

0

 n/a

0.00

0.00

Cowley

0

1

0

0

0

1

15,673

0.06

0.17

Dickinson

0

0

0

0

0

0

 n/a

0.00

0.00

Douglas

3

7

0

0

1

11

3,659

0.27

0.74

Ellis

0

0

0

0

0

0

 n/a

0.00

0.00

Finney

0

0

0

0

0

0

 n/a

0.00

0.00

Ford

1

0

0

0

0

1

11,650

0.09

0.23

Franklin

0

0

0

0

0

0

 n/a

0.00

0.00

Geary

0

0

0

0

0

0

 n/a

0.00

0.00

Greenwood

0

0

0

0

0

0

 n/a

0.00

0.00

Harvey

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

0

0

1

1

5,094

0.20

0.53

Jefferson

0

0

0

0

0

0

 n/a

0.00

0.00

Johnson

32

66

0

0

2

100

1,816

0.55

1.49

Labette

0

0

0

0

0

0

 n/a

0.00

0.00

Leavenworth

5

12

0

0

0

17

1,435

0.70

1.89

Logan

0

0

0

0

0

0

 n/a

0.00

0.00

Lyon

0

0

0

0

1

1

14,757

0.07

0.18

Marion

0

0

0

0

0

0

 n/a

0.00

0.00

Mcpherson

0

0

0

0

0

0

 n/a

0.00

0.00

Miami

1

0

0

0

0

1

10,984

0.09

0.25

Montgomery

0

0

0

0

1

1

17,207

0.06

0.16

Neosho

0

1

0

0

2

3

2,487

0.40

1.09

Norton

0

0

0

0

0

0

 n/a

0.00

0.00

Osage

0

0

0

0

0

0

 n/a

0.00

0.00

Phillips

0

0

0

0

0

0

 n/a

0.00

0.00

Reno

0

0

0

0

0

0

 n/a

0.00

0.00

Riley

0

0

0

0

0

0

 n/a

0.00

0.00

Russell

1

0

0

0

0

1

3,871

0.26

0.70

Saline

5

7

0

0

0

12

1,891

0.53

1.43

Sedgwick

42

81

0

0

0

123

1,554

0.64

1.74

Shawnee

4

17

0

0

0

21

3,513

0.28

0.77

Stafford

0

0

0

0

0

0

 n/a

0.00

0.00

Sumner

1

1

0

0

0

2

5,439

0.18

0.50

Thomas

0

0

0

0

0

0

 n/a

0.00

0.00

Wyandotte

56

63

0

0

0

119

554

1.81

4.90

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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