IOWA FORECLOSURE ACTIVITY DECREASES 9 PERCENT IN FIRST QUARTER

State Activity Up Slightly From Q1 2008

Monthly Activity Down 16 percent in March, Down 5 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 1,572 Iowa properties in the first quarter of 2009, a 9 percent decrease from the previous quarter, but still a slight increase above the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Iowa reported 486 properties with foreclosure filings in March, a 16 percent decrease from the previous month and 5 percent below its March 2008 total.

 

“Foreclosure activity decreased in Iowa in the first quarter of 2009, though it remained high compared to the same period last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment remains high in the state, still residents are looking to the new national economic stimulus package to further improve Iowa’s economy.”

 

Iowa ranked 37th in the country in total properties with foreclosure filings for the quarter. One in every 846 Iowa housing units received a foreclosure filing during the month, the 38th highest state foreclosure rate in the nation.

 

Four top counties account for bulk of state foreclosure total for the quarter

Four Iowa counties accounted for 77 percent of the foreclosure activity in the state for Q1 2009. Polk County led the way, reporting 778 properties with foreclosure filings. Scott County was second, reporting 177 properties with foreclosure filings for the quarter. Linn County was in third, reporting 159 properties with foreclosure filings. Pottawattamie County registered the fourth highest total, documenting 95 properties with foreclosure filings.

 

Polk County posts state’s top foreclosure rate for the first quarter

With one in every 235 housing units receiving a foreclosure filing — 3.6 times the state average — Polk County had the highest county foreclosure rate in the state during Q1 2009. Warren County had the second highest rate, with one in every 315 housing units receiving a foreclosure filing — 2.7 times the state average. Third highest rate was documented in Scott County, where one in every 397 housing units received a foreclosure filing during the month — 2.1 times the state average.

 

State a minor contributor to nation’s foreclosure total for Q1 2009

Iowa accounted for less than 1 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the quarter  — broken out by type of filing at the county, state and national level. 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 filed against a property during the quarter — which is extremely rare — only the most recent filing is counted in the report.

 

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

 

Iowa Foreclosure Market Data by County – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%Change from Q4 08

%Change from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16

23.63

Iowa

0

0

718

0

854

1,572

846

-8.92

0.38

 

 

 

 

 

 

 

 

 

 

Adair

0

0

0

0

0

0

-100.00%

-100.00%

Adams

0

0

0

0

0

0

-100.00%

Allamakee

0

0

0

0

0

0

Appanoose

0

0

0

0

1

1

6,747

0.00%

-50.00%

Audubon

0

0

0

0

0

0

Benton

0

0

0

0

1

1

11,015

-66.67%

-66.67%

Black Hawk

0

0

2

0

1

3

18,252

-72.73%

-72.73%

Boone

0

0

0

0

2

2

5,805

-33.33%

-85.71%

Bremer

0

0

0

0

2

2

5,050

100.00%

100.00%

Buchanan

0

0

0

0

1

1

9,130

Buena Vista

0

0

0

0

0

0

-100.00%

Butler

0

0

0

0

1

1

6,668

0.00%

-66.67%

Calhoun

0

0

0

0

4

4

1,300

300.00%

-20.00%

Carroll

0

0

0

0

1

1

9,301

-50.00%

Cass

0

0

0

0

2

2

3,358

0.00%

100.00%

Cedar

0

0

0

0

2

2

4,019

100.00%

-50.00%

Cerro Gordo

0

0

0

0

13

13

1,686

-35.00%

0.00%

Cherokee

0

0

1

0

1

2

2,952

100.00%

Chickasaw

0

0

0

0

0

0

Clarke

0

0

0

0

0

0

-100.00%

-100.00%

Clay

0

0

2

0

4

6

1,348

50.00%

Clayton

0

0

0

0

1

1

8,942

Clinton

0

0

26

0

2

28

797

-15.15%

47.37%

Crawford

0

0

0

0

0

0

-100.00%

Dallas

0

0

10

0

23

33

699

-52.17%

0.00%

Davis

0

0

0

0

0

0

-100.00%

Decatur

0

0

0

0

0

0

-100.00%

Delaware

0

0

0

0

0

0

-100.00%

-100.00%

Des Moines

0

0

0

0

0

0

-100.00%

-100.00%

Dickinson

0

0

0

0

2

2

6,504

-80.00%

-50.00%

Dubuque

0

0

0

0

1

1

38,820

-50.00%

-97.22%

Emmet

0

0

0

0

0

0

-100.00%

Fayette

0

0

0

0

1

1

9,708

0.00%

-85.71%

Floyd

0

0

0

0

1

1

7,449

-50.00%

Franklin

0

0

0

0

0

0

-100.00%

Fremont

0

0

0

0

0

0

-100.00%

Greene

0

0

0

0

2

2

2,338

0.00%

Grundy

0

0

0

0

0

0

-100.00%

Guthrie

0

0

1

0

0

1

5,813

-50.00%

Hamilton

0

0

0

0

3

3

2,431

50.00%

-66.67%

Hancock

0

0

0

0

3

3

1,770

50.00%

0.00%

Hardin

0

0

0

0

0

0

-100.00%

-100.00%

Harrison

0

0

0

0

5

5

1,391

0.00%

-54.55%

Henry

0

0

0

0

0

0

-100.00%

Howard

0

0

0

0

0

0

Humboldt

0

0

1

0

1

2

2,391

100.00%

0.00%

Ida

0

0

0

0

0

0

Iowa

0

0

1

0

1

2

3,408

0.00%

Jackson

0

0

0

0

1

1

9,376

-50.00%

-83.33%

Jasper

0

0

20

0

11

31

524

-32.61%

-34.04%

Jefferson

0

0

0

0

0

0

-100.00%

-100.00%

Johnson

0

0

41

0

16

57

959

35.71%

62.86%

Jones

0

0

2

0

0

2

4,208

0.00%

-71.43%

Keokuk

0

0

0

0

1

1

5,050

-75.00%

Kossuth

0

0

0

0

0

0

-100.00%

Lee

0

0

0

0

2

2

8,354

-50.00%

-75.00%

Linn

0

0

101

0

58

159

577

-21.29%

-29.02%

Louisa

0

0

0

0

0

0

-100.00%

Lucas

0

0

0

0

1

1

4,275

0.00%

Lyon

0

0

0

0

1

1

4,901

0.00%

Madison

0

0

1

0

6

7

929

250.00%

40.00%

Mahaska

0

0

1

0

1

2

4,902

Marion

0

0

1

0

2

3

4,627

0.00%

-83.33%

Marshall

0

0

0

0

0

0

-100.00%

-100.00%

Mills

0

0

0

0

0

0

-100.00%

-100.00%

Mitchell

0

0

1

0

0

1

4,672

Monona

0

0

0

0

0

0

Monroe

0

0

0

0

0

0

-100.00%

Montgomery

0

0

0

0

0

0

-100.00%

-100.00%

Muscatine

0

0

1

0

0

1

17,856

-50.00%

-93.33%

Obrien

0

0

0

0

0

0

Osceola

0

0

0

0

0

0

-100.00%

Page

0

0

0

0

0

0

-100.00%

Palo Alto

0

0

0

0

1

1

4,737

0.00%

0.00%

Plymouth

0

0

0

0

3

3

3,503

-62.50%

Pocahontas

0

0

1

0

1

2

2,006

Polk

0

0

271

0

507

778

235

3.73%

76.42%

Pottawattamie

0

0

61

0

34

95

417

-38.31%

-18.80%

Poweshiek

0

0

1

0

1

2

4,530

-50.00%

Ringgold

0

0

0

0

0

0

Sac

0

0

0

0

0

0

-100.00%

Scott

0

0

90

0

87

177

397

2.91%

0.57%

Shelby

0

0

0

0

1

1

5,481

-75.00%

Sioux

0

0

0

0

0

0

Story

0

0

9

0

0

9

3,812

-67.86%

-55.00%

Tama

0

0

0

0

2

2

3,914

0.00%

Taylor

0

0

0

0

0

0

Union

0

0

0

0

0

0

-100.00%

Van Buren

0

0

0

0

0

0

-100.00%

Wapello

0

0

0

0

5

5

3,281

400.00%

-50.00%

Warren

0

0

35

0

20

55

315

17.02%

71.88%

Washington

0

0

1

0

2

3

2,972

200.00%

0.00%

Wayne

0

0

0

0

0

0

-100.00%

Webster

0

0

1

0

6

7

2,467

250.00%

-53.33%

Winnebago

0

0

0

0

0

0

-100.00%

Winneshiek

0

0

0

0

0

0

Woodbury

0

0

35

0

2

37

1,136

-43.94%

-63.73%

Worth

0

0

0

0

0

0

-100.00%

-100.00%

Wright

0

0

0

0

0

0

-100.00%

-100.00%

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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