IOWA FORECLOSURE ACTIVITY UP 31 PERCENT IN 2008

Nearly 5,400 Properties Receive Foreclosure Filings During The Year

 

IRVINE, Calif. – Jan. 28, 2009 – Foreclosure filings were reported on 5,385 Iowa properties in 2008, an increase of 31 percent from 2007 and a 136 percent increase from 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The Hawkeye State reported 887 properties with foreclosure filings in December, up70 percent from the previous month and a 58 percent increase over December 2007.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity increased only moderately in Iowa during 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although up 1 percent from January, the state’s unemployment rate finished 2008 well below the national average. Additionally, home sales declined only moderately compared to 2007. Taken altogether these factors support the notion that foreclosure activity grew only slightly statewide last year.”

 

Iowa ranked 37th in the country in total foreclosures for the year. With one in every 245 housing units receiving a foreclosure filing, its foreclosure rate ranked 40th among the 50 states.

 

Top five counties responsible for bulk of state’s foreclosure activity in 2008

Five Iowa counties accounted for 67 percent of all foreclosure activity in the state for 2008. Polk County led the way, reporting 1,735 properties with foreclosure filings for the year. Linn County came in second, reporting 627 properties with foreclosure filings. Scott County registered the third highest total, reporting 519 properties with foreclosure filings. Pottawattamie County came in fourth, reporting 425 properties with foreclosure filings. Woodbury County came in fifth, documenting 297 properties with foreclosure filings.

 

Pottawattamie County posts state’s top foreclosure rate for 2008

With 1.09 percent of its housing units receiving at least one foreclosure filing during the year, Pottawattamie County posted the leading foreclosure rate in the state for 2008. Polk County had the second highest rate, with 0.96 percent of its housing units receiving at least one foreclosure filing. Third highest was Jasper County, where 0.79 percent of the housing stock received at least one foreclosure filing during the year.

 

State a minor contributor to nation’s foreclosure total for 2008

Iowa accounted for less than 1 percent of the 2,330,483 properties with foreclosure filings reported nationwide in 2008. The national total represented an increase of more than 81 percent from the total reported for 2007. For the year 1.84 percent of all U.S. housing units received at least one foreclosure filing, up from 1.03 percent in 2007.

 

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 month — 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 month — which is extremely rare — 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 Foreclosure Market Data by County – Yearend 2008

 

Rate Rank

County

Total Properties With Foreclosure Filings

% Housing Units

(Foreclosure Rate)

% Change From 2007

 

 

 

 

 

n/a

United States

2,330,483

1.84

81.24

n/a

Iowa

5,385

0.41

31.25

 

 

 

 

 

30

Adair

8

0.21

60.00

80

Adams

1

0.05

0.00

95

Allamakee

1

0.01

-80.00

50

Appanoose

9

0.13

-25.00

89

Audubon

1

0.03

n/a

43

Benton

18

0.16

-5.26

71

Black Hawk

37

0.07

-26.00

13

Boone

39

0.34

8.33

85

Bremer

4

0.04

-33.33

91

Buchanan

2

0.02

-33.33

70

Buena Vista

6

0.07

-66.67

42

Butler

11

0.17

37.50

46

Calhoun

8

0.15

100.00

68

Carroll

7

0.08

-30.00

22

Cass

16

0.24

45.45

40

Cedar

14

0.18

-12.50

18

Cerro Gordo

64

0.29

36.17

56

Cherokee

7

0.12

-41.67

62

Chickasaw

6

0.10

0.00

29

Clarke

9

0.22

50.00

48

Clay

11

0.14

0.00

92

Clayton

2

0.02

0.00

9

Clinton

103

0.46

281.48

58

Crawford

8

0.11

-27.27

5

Dallas

158

0.72

146.88

77

Davis

2

0.05

-50.00

52

Decatur

5

0.13

n/a

38

Delaware

14

0.18

0.00

83

Des Moines

8

0.04

-68.00

32

Dickinson

26

0.20

225.00

26

Dubuque

87

0.23

20.83

54

Emmet

6

0.12

0.00

47

Fayette

14

0.14

-12.50

55

Floyd

9

0.12

12.50

74

Franklin

3

0.06

200.00

21

Fremont

9

0.25

-18.18

23

Greene

11

0.24

-15.38

44

Grundy

9

0.16

-25.00

31

Guthrie

12

0.21

-7.69

14

Hamilton

23

0.32

9.52

36

Hancock

10

0.19

-33.33

33

Hardin

17

0.20

-10.53

11

Harrison

28

0.41

55.56

39

Henry

15

0.18

150.00

72

Howard

3

0.07

200.00

53

Humboldt

6

0.13

200.00

96

Ida

0

0.00

n/a

82

Iowa

3

0.04

50.00

35

Jackson

18

0.19

20.00

3

Jasper

128

0.79

68.42

86

Jefferson

3

0.04

-50.00

34

Johnson

108

0.20

103.77

25

Jones

19

0.23

58.33

45

Keokuk

8

0.16

166.67

79

Kossuth

4

0.05

100.00

37

Lee

30

0.18

-3.23

7

Linn

627

0.69

31.45

65

Louisa

5

0.10

-50.00

81

Lucas

2

0.05

0.00

84

Lyon

2

0.04

100.00

10

Madison

28

0.44

115.38

94

Mahaska

2

0.02

-75.00

19

Marion

38

0.28

65.22

66

Marshall

14

0.08

-46.15

63

Mills

6

0.10

500.00

96

Mitchell

0

0.00

-100.00

93

Monona

1

0.02

-66.67

90

Monroe

1

0.03

-75.00

16

Montgomery

16

0.30

700.00

15

Muscatine

53

0.30

6.00

69

Obrien

5

0.08

-37.50

73

Osceola

2

0.07

n/a

61

Page

8

0.11

14.29

41

Palo Alto

8

0.17

166.67

57

Plymouth

12

0.11

33.33

64

Pocahontas

4

0.10

n/a

2

Polk

1,735

0.96

28.61

1

Pottawattamie

425

1.09

78.57

51

Poweshiek

12

0.13

33.33

88

Ringgold

1

0.03

n/a

87

Sac

2

0.04

0.00

4

Scott

519

0.74

8.81

60

Shelby

6

0.11

50.00

96

Sioux

0

0.00

n/a

17

Story

100

0.29

194.12

67

Tama

6

0.08

50.00

75

Taylor

2

0.06

-33.33

12

Union

21

0.36

23.53

78

Van Buren

2

0.05

n/a

24

Wapello

37

0.23

-13.95

8

Warren

116

0.68

52.63

59

Washington

10

0.11

150.00

76

Wayne

2

0.06

100.00

28

Webster

38

0.22

-35.59

49

Winnebago

7

0.14

16.67

96

Winneshiek

0

0.00

n/a

6

Woodbury

297

0.71

27.47

27

Worth

8

0.22

166.67

20

Wright

17

0.26

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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