Kansas Foreclosure Activity Declines in October

Statewide filings down 27 percent from September

 

Kansas foreclosure filings declined 27 percent from the previous month to 929 properties with foreclosure filings in October, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is still 42 percent ahead of the state foreclosure level reported one year ago.

 

Kansas foreclosures dropped substantially in October but are still well ahead of this time last year,” said James J. Saccacio, chief executive officer. “The largest decline was in banked-owned properties, which fell 40 percent for the month. This is not surprising as the state’s unemployment remains well below the national average while home sales volume has picked up this year. If these trends continue, we may see foreclosures continue to decrease in the coming months.”

 

Kansas ranked 35th in the country in total foreclosures for the month. With one in every 1,313 housing units receiving a foreclosure filing, its foreclosure rate ranked 37th among the 50 states.

 

Wyandotte County posts state’s top foreclosure rate in October

With one in every 350 housing units receiving a foreclosure filing — 3.8 times the state average — Wyandotte County posted the highest county foreclosure rate in the state for October. Leavenworth County ranked second highest, reporting one in every 549 housing units receiving a foreclosure filing — 2.4 the state average. Johnson County had the third highest rate, with one in every 571 housing units receiving a foreclosure filing — 2.3 times the state average. Fourth highest foreclosure rate was in Shawnee County, where one in every 620 housing units received a foreclosure filing during the month – 2.1 times the state average and the fifth highest rate was reported in Gray County, where one in every 1,149 housing units received a foreclosure filing during the month — 1.1 times the state average.

 

Five counties dominate state in foreclosure total during October

Five counties accounted for 89 percent of all foreclosure activity in the state for October. Johnson County led all counties, totaling 376 properties with foreclosure filings for the month. Wyandotte County was second highest, documenting 193 properties with foreclosure filings. Reporting 127 properties with foreclosure filings for the month, Shawnee County was third highest. Sedgwick County came in fourth, reporting 81 properties with foreclosure filings, while the fifth highest total was in Leavenworth County, where 51 properties with foreclosure filings were reported for the month.

 

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

Kansas accounted for less than 1 percent of the 332,292 properties with foreclosure filings reported nationwide in October. Total U.S. activity declined 3 percent from the previous month but was still 19 percent ahead of October 2008. One in every 385 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.

 

 

Kansas Top Foreclosure Rates by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

n/a

n/a

Kansas

0

201

0

376

352

929

1,313

0.29

n/a

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

54

0

117

22

193

350

1.10

3.75

Leavenworth

0

5

0

23

23

51

549

0.70

2.39

Johnson

0

108

0

143

125

376

571

0.67

2.30

Shawnee

0

21

0

66

40

127

620

0.62

2.12

Gray

0

0

0

1

1

2

1,149

0.34

1.14

 

 

Kansas Top Foreclosure Totals by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 09

% Chg Oct 08

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

-3.30

18.86

Kansas

0

201

0

376

352

929

1,313

-26.97

41.62

 

 

 

 

 

 

 

 

 

 

Johnson

0

108

0

143

125

376

571

0.27

147.37

Wyandotte

0

54

0

117

22

193

350

-28.25

23.72

Shawnee

0

21

0

66

40

127

620

53.01

182.22

Sedgwick

0

0

0

5

76

81

2,557

-74.37

-65.24

Leavenworth

0

5

0

23

23

51

549

-13.56

104.00

 

 

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