Alabama Foreclosure Activity Rises in April

Statewide filings up 5 percent from March, up 4 percent from year ago

 

Monthly foreclosure activity in Alabama rose in April, up 5 percent from the previous month to 2,411 properties with foreclosure filings. This latest state total also represents a 4 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity in Alabama rose modestly in April, remaining above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest monthly increase was in the number of bank-owned properties, which went up 6 percent in April. Although unemployment within the state has steadily improved from its 11.8 percent peak in January, it still remains high compared to much of the nation and is a concern.”

 

Alabama’s foreclosure total ranked 29th nationally in April. The state had the 32nd highest state foreclosure rate in the nation with one in 895 Alabama housing units receiving a foreclosure filing during the month.

 

Jefferson County led the state in foreclosure rate and total for April

With one in every 393 housing units receiving a foreclosure filing — on par with the national average and 2.3 times the state average — Jefferson County posted the highest county foreclosure rate in the state for the month. Jefferson County also led the way in terms of total foreclosures, reporting 790 properties with foreclosure filings for the month.

 

Saint Clair County was a close second in foreclosure rate, with one in every 397 housing units receiving a foreclosure filing — on par with the national average and 2.3 times the state average. Shelby County was third, with one in every 434 housing units receiving a foreclosure filing — 2.1 times the state average.

 

Mobile County had the second highest total activity for the month, documenting 364 properties with foreclosure filings. Reporting 214 properties with foreclosure filings, Baldwin County ranked third highest. Shelby County was fourth, reporting 182 properties with foreclosure filings. A total of 168 properties with foreclosure filings were reported in Madison County, the fifth highest county total in April.

 

State a minor contributor to nation’s month foreclosure total

Alabama accounted for 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

Alabama Top Foreclosure Rates By County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

n/a

n/a

Alabama

0

0

1,394

0

1,017

2,411

895

0.43

n/a

 

 

 

 

 

 

 

 

 

 

Jefferson

0

0

594

0

196

790

393

0.98

2.28

Saint Clair

0

0

45

0

34

79

397

0.97

2.26

Shelby

0

0

100

0

82

182

434

0.89

2.06

Baldwin

0

0

79

0

135

214

485

0.80

1.85

Mobile

0

0

142

0

222

364

497

0.78

1.80

 

 

Alabama Top Foreclosure Totals by County – April 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 10

% Chg Apr 09

 

 

 

 

 

 

 

 

 

 

United States

42,889

60,873

96,770

40,873

92,432

333,837

387

-9.05

-2.40

Alabama

0

0

1,394

0

1,017

2,411

895

5.05

4.46

 

 

 

 

 

 

 

 

 

 

Jefferson

0

0

594

0

196

790

393

28.66

-10.63

Mobile

0

0

142

0

222

364

497

0.00

30.94

Baldwin

0

0

79

0

135

214

485

-28.90

2.39

Shelby

0

0

100

0

82

182

434

119.28

59.65

Madison

0

0

65

0

103

168

845

66.34

-7.69

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved