Kansas Foreclosure Activity Lower in Second Quarter

Activity level drops 27 percent from Q1

Foreclosure filings increase 42 percent mid-year; down 16 percent in June

 

Kansas reported 2,972 properties with foreclosure filings for the second quarter of 2010, a 27 percent decrease from the first quarter of the year, but is nearly 22 percent above the level reported for the second quarter of 2009.

 

Kansas foreclosures were down during the second quarter and for the month of June,” said James j. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate is currently 3 percent below the national average. This is definitely contributing to the decline.”

 

One in every 413 Kansas housing units received a foreclosure filing during the quarter, giving the state the 38th highest foreclosure rate in the nation.

 

Wyandotte County posts state’s top foreclosure rate for the quarter

Wyandotte County posted the highest county foreclosure rate in Kansas during the second quarter, with one in every 81 housing units receiving a foreclosure filing — 5.1 times the state average. Johnson County posted the second highest foreclosure rate, with one in every 209 housing units receiving a foreclosure filing — 1.9 times the state average. Shawnee County reported the third highest foreclosure rate, with one in every 261 housing units receiving a foreclosure filing during the second quarter — 1.6 times the state average.

 

Johnson County leads state in total foreclosures for the second quarter

Johnson County led Kansas in foreclosure activity, reporting 1,037 properties with foreclosure filings for the quarter, while Wyandotte County documented the second highest foreclosure total, reporting 841 properties with foreclosure filings. Reporting 419 properties with foreclosure filings for the quarter, Sedgwick County came in third. Shawnee County was fourth, reporting 304 properties with foreclosure filings. Fifth highest total was Leavenworth County, where 69 properties with foreclosure filings were reported for the quarter.

 

State contributes less than 1 percent to nation’s quarterly total

Foreclosure activity in Kansas represented less than 1 percent of the 895,521 properties with foreclosure filings reported nationwide for the second quarter of 2010. Total U.S. activity fell by almost 4 percent from the previous quarter and was virtually unchanged from the second quarter 2009. One in every 144 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, 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 – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

n/a

n/a

Kansas

0

387

0

1,098

1,487

2,972

413

0.35

n/a

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

107

0

283

451

841

81

1.79

5.12

Johnson

0

171

0

394

472

1,037

209

0.69

1.97

Shawnee

0

53

0

152

99

304

261

0.55

1.58

Chase

0

0

0

0

4

4

385

0.37

1.07

Miami

0

0

0

1

31

32

394

0.37

1.05

 

 

Kansas Top Foreclosure Totals by County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q1 2010

% Chg Q2 2009

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

-3.94

0.64

Kansas

0

387

0

1,098

1,487

2,972

413

-27.42

22.05

 

 

 

 

 

 

 

 

 

 

Johnson

0

171

0

394

472

1,037

209

39.57

34.15

Wyandotte

0

107

0

283

451

841

81

-62.44

70.24

Sedgwick

0

37

0

177

205

419

499

-0.24

-41.81

Shawnee

0

53

0

152

99

304

261

-7.32

40.74

Leavenworth

0

4

0

31

34

69

412

-27.37

-2.82

 

 

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