Iowa Foreclosure Activity Falls in July

Statewide foreclosure filings down 19 percent from June

 

Foreclosure activity in Iowa decreased 19 percent in July to 601 properties with foreclosure filings, unchanged from the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Iowa reported a welcome drop in foreclosure filings in July, bringing activity back in line with this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Closely associated with this drop in foreclosures is the state’s low unemployment rate, which rose slightly in July but, at 6.8 percent, remains much better than in many states.”

 

The state reported the 44th highest state foreclosure rate, as one in every 2,212 Iowa housing units received a foreclosure filing during the month.

 

Tama County posts top county foreclosure rate in July

Tama County posted the top foreclosure rate in Iowa for the month, with one in every 280 housing units receiving a foreclosure filing in July. Polk County posted the second highest foreclosure rate, with one in every 746 housing units receiving a foreclosure filing during the month. Coming in third was Lucas County, where one in every 855 housing units received a foreclosure filing in July.

 

Polk County had top foreclosure total for July

Polk County led Iowa in total foreclosure activity, reporting 245 properties with foreclosure filings in July. Linn County documented the second highest foreclosure activity, reporting 82 properties with foreclosure filings. Pottawattamie County came in third highest, tallying 30 properties with foreclosure filings. Fourth highest was Tama County, where 28 properties with foreclosure filings were reported. Scott County was fifth, reporting 23 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Iowa accounted for less than 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Iowa

0

0

194

0

407

601

2,212

0.18

n/a

 

 

 

 

 

 

 

 

 

 

Tama

0

0

0

0

28

28

280

1.42

7.90

Polk

0

0

127

0

118

245

746

0.53

2.97

Lucas

0

0

0

0

5

5

855

0.46

2.59

Winnebago

0

0

0

0

6

6

859

0.46

2.58

Jasper

0

0

0

0

18

18

903

0.44

2.45

 

 

Iowa Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Iowa

0

0

194

0

407

601

2,212

-19.22

0.00

 

 

 

 

 

 

 

 

 

 

Polk

0

0

127

0

118

245

746

7.46

-13.73

Linn

0

0

59

0

23

82

1,127

-56.38

0.00

Pottawattamie

0

0

0

0

30

30

1,301

130.77

-3.23

Tama

0

0

0

0

28

28

280

1300.00

1300.00

Scott

0

0

6

0

17

23

3,083

-70.51

-61.02

 

 

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