Iowa Foreclosure Activity Climbs in November

Statewide filings up 47 percent from October; up 19 percent from year ago

 

Iowa foreclosure activity rose in November to 622 properties with foreclosure filings, up 47 percent from the previous month, and 19 percent ahead of the level reported in November 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity jumped again in Iowa in November, though the state managed to fair well compared to most of the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state remained at just below 7 percent – much lower than the national average – helping many homeowners to stay in their homes.”

 

One in every 2,138 Iowa housing units received a foreclosure filing in November, the 42nd highest foreclosure rate in the nation.

 

Pottawattamie County posts state’s highest foreclosure rate in November

With one in every 707 housing units receiving a foreclosure filing — three times the state average — Pottawattamie County posted the highest county foreclosure rate in the state for November. Polk County had the second highest rate, with one in every 735 housing units receiving a foreclosure filing — 2.9 times the state average. Jasper County came in third highest, with one in every 1,160 housing units receiving a foreclosure filing — 1.8 times the state average.

 

Five counties responsible for bulk of state’s foreclosure total for November

Five counties accounted for 72 percent of all foreclosure activity in the state during November. Polk County led all counties, totaling 249 properties with foreclosure filings for the month. Linn County was second highest, documenting 67 properties with foreclosure filings. Reporting 56 properties with foreclosure filings, Pottawattamie County had the third highest total in the state. Scott County was fourth highest, reporting 50 properties with foreclosure filings, while Johnson County reported 28 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s foreclosure total in November

Iowa accounted for less than 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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.

 

 

Iowa Top Foreclosure Rates By County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Iowa

0

0

284

0

338

622

2,138

0.20

n/a

 

 

 

 

 

 

 

 

 

 

Pottawattamie

0

0

43

0

13

56

707

0.59

3.03

Polk

0

0

127

0

122

249

735

0.57

2.91

Jasper

0

0

0

0

14

14

1,160

0.36

1.84

Guthrie

0

0

0

0

5

5

1,163

0.36

1.84

Wapello

0

0

0

0

12

12

1,367

0.31

1.56

 

 

Iowa Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Iowa

0

0

284

0

338

622

2,138

47.04

19.16

 

 

 

 

 

 

 

 

 

 

Polk

0

0

127

0

122

249

735

56.60

14.75

Linn

0

0

40

0

27

67

1,369

21.82

15.52

Pottawattamie

0

0

43

0

13

56

707

124.00

-3.45

Scott

0

0

26

0

24

50

1,407

72.41

-35.90

Johnson

0

0

13

0

15

28

1,953

100.00

3.70

 

 

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