IOWA FORECLOSURE ACTIVITY UP 32 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Increases 262 Percent From August 2006

 

IRVINE, Calif. – Sept. 21, 2007 – Iowa reported 817 foreclosure filings in August, up 32 percent from the previous month and 262 percent above the number reported in August 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 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.

 

Iowa experienced a significant increase in bank-repossessed properties (REOs) in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “Employment growth remains flat in the Hawkeye State and personal bankruptcies are on the rise. Both are factors that are contributing to Iowa’s increase in foreclosure activity.”

 

Iowa ranked 30th in the country in total foreclosures reported for August. The state’s foreclosure rate — one foreclosure filing for every 1,600 households — was the 32nd highest in the nation.

 

Polk County leads state in foreclosure activity

Polk County led the state with 232 foreclosure filings for the month. Scott County reported the second highest total with 152 foreclosure filings. Linn County came in third with 81 filings entering some stage of the foreclosure pipeline.

 

Dallas County posts highest foreclosure rate for August

With one foreclosure filing for every 433 households — 3.7 times the state average and 1.2 times the national average — Dallas County posted the highest foreclosure rate in the state for August. Second highest rate was reported in Scott County, one foreclosure filing for every 455 households — 3.5 times the state average and 1.1 times the national average. Woodbury County posted the third highest rate, one foreclosure filing for every 625 households — 2.6 times the state average. Warren County had the fourth highest rate, one foreclosure filing for every 760 households — 2.1 times the state average.

 

State a minor contributor to national total

Iowa accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

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

 

 

                        Iowa Foreclosure Market by County – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Iowa

26

462

0

0

329

817

1,600

0.32

n/a

 

 

 

 

 

 

 

 

 

 

Adair

0

0

0

0

2

2

1,901

0.27

0.84

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Allamakee

0

0

0

0

2

2

3,760

0.14

0.43

Appanoose

0

0

0

0

3

3

2,253

0.23

0.71

Benton

0

0

0

0

0

0

n/a

0.00

0.00

Black Hawk

2

11

0

0

2

15

3,594

0.14

0.45

Boone

0

6

0

0

2

8

1,435

0.36

1.12

Bremer

1

0

0

0

0

1

9,938

0.05

0.16

Buena Vista

0

0

0

0

1

1

8,180

0.06

0.20

Butler

0

0

0

0

1

1

6,642

0.08

0.24

Calhoun

0

2

0

0

1

3

1,736

0.29

0.92

Cass

0

1

0

0

1

2

3,361

0.15

0.48

Cedar

0

0

0

0

0

0

n/a

0.00

0.00

Cerro Gordo

1

2

0

0

2

5

4,368

0.12

0.37

Cherokee

0

1

0

0

0

1

5,907

0.09

0.27

Chickasaw

0

0

0

0

2

2

2,868

0.18

0.56

Clarke

0

0

0

0

2

2

2,069

0.25

0.77

Clinton

1

3

0

0

1

5

4,426

0.12

0.36

Dallas

1

41

0

0

3

45

433

1.18

3.70

Delaware

0

0

0

0

1

1

7,905

0.06

0.20

Des Moines

0

6

0

0

0

6

3,147

0.16

0.51

Dickinson

0

1

0

0

0

1

12,558

0.04

0.13

Dubuque

0

1

0

0

5

6

6,351

0.08

0.25

Emmet

0

0

0

0

3

3

1,648

0.31

0.97

Fayette

0

1

0

0

3

4

2,422

0.21

0.66

Floyd

0

0

0

0

1

1

7,426

0.07

0.22

Franklin

0

1

0

0

0

1

4,786

0.11

0.33

Fremont

0

0

0

0

1

1

3,557

0.14

0.45

Greene

0

0

0

0

3

3

1,556

0.33

1.03

Grundy

0

2

0

0

2

4

1,399

0.36

1.14

Guthrie

0

0

0

0

1

1

5,719

0.09

0.28

Hamilton

0

0

0

0

3

3

2,433

0.21

0.66

Hardin

1

0

0

0

5

6

1,406

0.36

1.14

Harrison

0

0

0

0

2

2

3,406

0.15

0.47

Henry

0

0

0

0

1

1

8,470

0.06

0.19

Howard

1

0

0

0

0

1

4,424

0.12

0.36

Ida

0

1

0

0

0

1

3,529

0.14

0.45

Iowa

0

0

0

0

0

0

n/a

0.00

0.00

Jackson

0

0

0

0

0

0

n/a

0.00

0.00

Jasper

0

5

0

0

4

9

1,789

0.29

0.89

Jefferson

0

0

0

0

0

0

n/a

0.00

0.00

Johnson

1

2

0

0

1

4

13,160

0.04

0.12

Jones

0

0

0

0

4

4

2,095

0.24

0.76

Keokuk

1

0

0

0

0

1

5,064

0.10

0.32

Kossuth

0

1

0

0

0

1

7,645

0.07

0.21

Lee

0

3

0

0

0

3

5,597

0.09

0.29

Linn

0

45

0

0

36

81

1,106

0.46

1.45

Louisa

0

0

0

0

1

1

5,186

0.10

0.31

Lucas

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

0

0

0

1

1

6,246

0.08

0.26

Mahaska

0

3

0

0

0

3

3,268

0.16

0.49

Marion

0

0

0

0

4

4

3,405

0.15

0.47

Marshall

0

1

0

0

0

1

16,885

0.03

0.09

Mills

0

0

0

0

0

0

n/a

0.00

0.00

Monona

0

3

0

0

0

3

1,585

0.32

1.01

Monroe

0

0

0

0

2

2

1,805

0.28

0.89

Montgomery

0

0

0

0

1

1

5,392

0.09

0.30

Muscatine

1

1

0

0

5

7

2,503

0.20

0.64

Obrien

0

1

0

0

1

2

3,331

0.15

0.48

Page

0

0

0

0

1

1

7,307

0.07

0.22

Palo Alto

0

0

0

0

1

1

4,731

0.11

0.34

Plymouth

0

0

0

0

2

2

5,183

0.10

0.31

Pocahontas

0

0

0

0

1

1

4,021

0.13

0.40

Polk

8

115

0

0

109

232

762

0.67

2.10

Pottawattamie

1

25

0

0

14

40

955

0.53

1.67

Poweshiek

1

2

0

0

3

6

1,502

0.34

1.06

Scott

2

95

0

0

55

152

455

1.12

3.52

Shelby

0

0

0

0

2

2

2,732

0.19

0.59

Story

0

2

0

0

4

6

5,725

0.09

0.28

Tama

0

1

0

0

0

1

7,801

0.07

0.21

Union

0

1

0

0

4

5

1,158

0.44

1.38

Wapello

0

0

0

0

3

3

5,418

0.09

0.30

Warren

1

14

0

0

7

22

760

0.67

2.10

Webster

0

0

0

0

2

2

8,643

0.06

0.19

Winnebago

0

0

0

0

1

1

5,194

0.10

0.31

Woodbury

2

62

0

0

3

67

625

0.82

2.56

Worth

0

0

0

0

1

1

3,558

0.14

0.45

 

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

 

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