Iowa Reports More Than 600 Properties With Iowa Reports More Than 600 Properties With

Activity increases 7 percent from June; up 21 percent from a year earlier.

 

Iowa reported 601 properties with foreclosure filings for July, a 7 percent increase from the previous month and 21 percent above the level reported in July 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

“Foreclosure activity increased in Iowa in July, up only slightly from June, but well above the level reported a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Hovering around 6 percent, unemployment in Iowa is now at a 23-year high, adding to mounting pressure on homeowners throughout the state.”

 

Iowa ranked 38th in the country in total properties with foreclosure filings for May. One in every 2,212 Iowa housing units received a foreclosure filing during the month, ranking 43rd among the 50 states.

 

Polk County posts state’s top foreclosure rate in July

With one in every 644 housing units receiving a foreclosure filing — 3.4 times the state average — Polk County posted the highest county foreclosure rate in the state for July. Linn County came in second highest, with one in every 1,119 housing units receiving a foreclosure filing during the month — twice the state average. Third highest rate was documented in Scott County, where one in every 1,192 housing units received a foreclosure filing — 1.9 times the state average.

 

Top six counties account for bulk of state foreclosure activity in July

Six counties accounted for 82 percent of all foreclosure activity in the state for July. Polk County tallied the highest activity level, reporting 284 properties with foreclosure filings for the month. Linn County came in second, documenting 82 properties with foreclosure filings. Scott County tallied 59 properties with foreclosure filings, the third highest total in the state. Pottawattamie County was fourth, reporting 31 properties with foreclosure filings. Dallas and Woodbury counties tied for fifth, each reporting 17 properties with foreclosure filings.

 

State a minor contributor to nation’s foreclosure activity in July

Iowa represented less than 1 percent of the 360,149 properties with foreclosure filings reported nationwide in July. Total U.S. activity rose almost 7 percent from the previous month and was more than 32 percent ahead of July 2008. One in every 355 U.S. housing units received a foreclosure filing during the month.

 

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 Top Foreclosure Rates By County – July 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl Avg

/State Avg

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

n/a

n/a

Iowa

0

0

227

0

374

601

2,212

0.16

n/a

 

 

 

 

 

 

 

 

 

 

Polk

0

0

88

0

196

284

644

0.55

3.43

Linn

0

0

39

0

43

82

1,119

0.32

1.98

Scott

0

0

45

0

14

59

1,192

0.30

1.86

Warren

0

0

1

0

13

14

1,236

0.29

1.79

Pottawattamie

0

0

16

0

15

31

1,276

0.28

1.73

 

 

Iowa Top Foreclosure Totals by County – July 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 09

% Chg July 08

 

 

 

 

 

 

 

 

 

 

United States

62,939

71,565

104,830

33,557

87,258

360,149

355

6.74

32.32

Iowa

0

0

227

0

374

601

2,212

7.32

20.68

 

 

 

 

 

 

 

 

 

 

Polk

0

0

88

0

196

284

644

46.39

123.62

Linn

0

0

39

0

43

82

1,119

-4.65

46.43

Scott

0

0

45

0

14

59

1,192

3.51

20.41

Pottawattamie

0

0

16

0

15

31

1,276

10.71

-31.11

Dallas

0

0

1

0

16

17

1,356

183.33

-22.73

Woodbury

0

0

15

0

2

17

2,473

-5.56

-32.00

 

 

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