IOWA FORECLOSURES INCREASE 20 PERCENT IN MAY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 197 Percent From a Year Ago

 

IRVINE, Calif. – June 15, 2007 – Iowa reported 520 foreclosure filings in May, a 20 percent increase from the previous month, and a 197 percent increase from May 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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 foreclosures have nearly tripled since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Quarter-one statistics show that the state’s home price appreciation rate was below the national average. This may be contributing to the overall rise.”

 

Iowa ranked 31st in the country in total foreclosures reported for May. The state’s foreclosure rate of one foreclosure filing for every 2,370 households ranked it 33rd among the 50 states.

 

Three counties account for largest share of state total

Three counties accounted for 66 percent of all foreclosure filings in Iowa for May. Polk County documented the highest foreclosure total in May, with 212 foreclosure filings. Linn County documented the second highest foreclosure total, with 82 foreclosure filings.  Scott County documented the third highest foreclosure total, with 49 foreclosure filings. Woodbury County held the fourth highest foreclosure total, with 29 foreclosure filings, followed by Warren County with 20 foreclosure filings.

 

Polk County posts highest foreclosure rate

Polk County posted the highest foreclosure rate in Iowa for May, reporting one foreclosure filing for every 738 households — 3.2 times the state average. Warren County reported the second highest foreclosure rate, with one foreclosure filing for every 764 households — 3.1 times the state average. Boone County posted the third highest foreclosure rate, with one filing for every 844 households — 2.8 times the state average. Linn County reported the fourth highest foreclosure rate, with one foreclosure filing for every 982 households — 2.4 times the state average. Union County posted the highest foreclosure rate, with one filing for every 1,131 households — 2.1 times the state average.

 

State contributes less than 1 percent to national total

Total foreclosure filings in Iowa accounted for less than 1 percent of the 176,137 foreclosure filings nationwide in May. The national total was up 19 percent from the previous month and up 90 percent from May 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 657 U.S. households during 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 – May 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

55,615

56,481

9,760

25,733

28,548

176,137

656

n/a

n/a

Iowa

34

236

0

0

250

520

2,370

0.28

n/a

 

 

 

 

 

 

 

 

 

 

Appanoose

0

0

0

0

1

1

6,698

0.10

0.35

Benton

0

0

0

0

0

0

n/a

0.00

0.00

Black Hawk

1

2

0

0

0

3

17,253

0.04

0.14

Boone

0

9

0

0

4

13

844

0.78

2.81

Buena Vista

2

3

0

0

1

6

1,358

0.48

1.75

Calhoun

0

1

0

0

0

1

5,219

0.13

0.45

Cedar

0

0

0

0

0

0

n/a

0.00

0.00

Cerro Gordo

1

5

0

0

1

7

3,070

0.23

0.77

Chickasaw

0

0

0

0

2

2

2,797

0.23

0.85

Clarke

0

0

0

0

1

1

3,934

0.17

0.60

Clayton

0

1

0

0

0

1

8,619

0.08

0.28

Clinton

2

0

0

0

0

2

10,793

0.06

0.22

Dallas

1

0

0

0

2

3

5,510

0.12

0.43

Davis

0

0

0

0

1

1

3,530

0.19

0.67

Delaware

0

0

0

0

3

3

2,561

0.26

0.93

Des Moines

0

2

0

0

0

2

9,322

0.07

0.25

Dickinson

0

0

0

0

1

1

11,375

0.06

0.21

Dubuque

0

1

0

0

2

3

11,835

0.06

0.20

Fayette

0

0

0

0

0

0

n/a

0.00

0.00

Floyd

1

0

0

0

0

1

7,317

0.09

0.32

Fremont

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

1

0

0

1

2

2,312

0.28

1.03

Grundy

0

0

0

0

1

1

5,304

0.12

0.45

Hardin

0

0

0

0

2

2

4,159

0.16

0.57

Harrison

0

0

0

0

1

1

6,602

0.10

0.36

Henry

1

0

0

0

0

1

8,246

0.08

0.29

Iowa

1

0

0

0

0

1

6,545

0.10

0.36

Jackson

0

2

0

0

2

4

2,237

0.29

1.06

Jasper

0

0

0

0

1

1

15,659

0.04

0.15

Jefferson

0

0

0

0

1

1

7,241

0.09

0.33

Johnson

0

3

0

0

4

7

6,547

0.10

0.36

Jones

0

0

0

0

0

0

n/a

0.00

0.00

Lee

0

0

0

0

0

0

n/a

0.00

0.00

Linn

2

41

0

0

39

82

982

0.67

2.41

Louisa

0

0

0

0

0

0

n/a

0.00

0.00

Lucas

1

1

0

0

0

2

2,120

0.31

1.12

Madison

0

0

0

0

2

2

2,831

0.23

0.84

Mahaska

0

0

0

0

0

0

n/a

0.00

0.00

Marion

1

1

0

0

0

2

6,378

0.10

0.37

Marshall

0

9

0

0

0

9

1,814

0.36

1.31

Mills

0

0

0

0

0

0

n/a

0.00

0.00

Monona

0

0

0

0

1

1

4,660

0.14

0.51

Muscatine

0

0

0

0

2

2

8,393

0.08

0.28

Page

0

0

0

0

0

0

n/a

0.00

0.00

Pocahontas

0

1

0

0

0

1

3,988

0.16

0.59

Polk

10

86

0

0

116

212

738

0.89

3.21

Pottawattamie

1

1

0

0

2

4

8,940

0.07

0.27

Poweshiek

0

0

0

0

0

0

n/a

0.00

0.00

Scott

4

19

0

0

26

49

1,340

0.49

1.77

Shelby

0

0

0

0

1

1

5,459

0.12

0.43

Story

0

5

0

0

1

6

5,105

0.13

0.46

Taylor

0

1

0

0

0

1

3,199

0.21

0.74

Union

1

4

0

0

0

5

1,131

0.58

2.10

Wapello

0

2

0

0

5

7

2,268

0.29

1.05

Warren

1

7

0

0

12

20

764

0.86

3.10

Washington

0

2

0

0

1

3

2,848

0.23

0.83

Webster

0

0

0

0

7

7

2,424

0.27

0.98

Winnebago

0

1

0

0

1

2

2,533

0.26

0.94

Woodbury

3

25

0

0

1

29

1,427

0.46

1.66

Wright

0

0

0

0

1

1

6,559

0.10

0.36

 

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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