Iowa Foreclosure Activity Increases in January

Statewide filings up 9 percent from December

 

Foreclosure activity in Iowa increased in January to 621 properties with foreclosure filings, a 9 percent rise from December 2009, but still down 8 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 2,141 Iowa housing units received a foreclosure filing in January, the 44th highest foreclosure rate in the nation.

 

“Iowa posted a modest gain in foreclosure activity for January but is still below the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest monthly increase was in auction notices, which were up 11 percent from the previous month. Bank owned properties (REOs) also posted a significant gain, up 8 percent for the month.”


Madison County posts top foreclosure rate in the state for January

Madison County posted the state’s highest county foreclosure rate in January, with one in every 501 housing units receiving a foreclosure filing. Scott County had the second highest foreclosure rate, with one in every 815 housing units receiving a foreclosure filing. Warren County was third, with one in every 922 housing units receiving a foreclosure filing. Pottawattamie County came in fourth highest, with one in every 976 housing units receiving a foreclosure filing. Polk County posted the fifth highest foreclosure rate, where one in every 1,075 housing units received a foreclosure filing during the month.

 

Polk County led the state in total foreclosure filings for January

Polk County led all counties, totaling 170 properties with foreclosure filings for the month. Scott County was second highest, documenting 87 properties with foreclosure filings. Reporting 71 properties with foreclosure filings for the month, Linn County had the third highest total. Pottawattamie County came in fourth highest, reporting 40 properties with foreclosure filings, followed by Woodbury County where 26 properties with foreclosure filings were reported.

 

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

Iowa accounted for less than 1 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 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 – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Iowa

0

0

227

0

394

621

2,141

0.19

n/a

 

 

 

 

 

 

 

 

 

 

Madison

0

0

1

0

12

13

501

0.81

4.28

Scott

0

0

32

0

55

87

815

0.50

2.63

Warren

0

0

14

0

5

19

922

0.44

2.32

Pottawattamie

0

0

30

0

10

40

976

0.42

2.19

Polk

0

0

60

0

110

170

1,075

0.38

1.99

 

 

Iowa Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Iowa

0

0

227

0

394

621

2,141

8.76

-8.27

 

 

 

 

 

 

 

 

 

 

Polk

0

0

60

0

110

170

1,075

-20.19

-49.85

Scott

0

0

32

0

55

87

815

24.29

17.57

Linn

0

0

45

0

26

71

1,301

20.34

54.35

Pottawattamie

0

0

30

0

10

40

976

233.33

-11.11

Woodbury

0

0

21

0

5

26

1,618

23.81

52.94

 

 

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