Kansas Foreclosure Activity Rises in First Quarter

Statewide foreclosure filings up from last year

March numbers up from a month earlier; up from a year ago

 

Foreclosure activity in Kansas rose 59 percent during the first quarter of 2010 and was up 61 percent from the same period last year. In all, the state reported 4,095 properties with foreclosure filings during the quarter.

 

In March the state reported 2,744 properties with foreclosure filings, a 246 percent increase from the previous month and 225 percent above the level reported in March 2009. One in every 447 Kansas housing units received a foreclosure filing during the month, the 14th highest state foreclosure rate.

 

“Kansas foreclosure filings continued to soar in the first quarter of 2010, and remained above the level reported for both last month and this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, the state remains in better shape in terms of both foreclosure activity and unemployment than much of the nation at this time.”

 

One in every 300 Kansas housing units received a foreclosure filing during the quarter — the 31st highest state foreclosure rate in the nation.

 

Wyandotte County tops state in foreclosure rate and total for the first quarter

Wyandotte County had the highest county foreclosure rate in Kansas during the first quarter, with one in every 30 housing units receiving a foreclosure filing — 9.9 times the state average.  Shawnee County had the second highest foreclosure rate, with one in every 242 housing units receiving a foreclosure filing. Johnson County came in third, with one in every 292 housing units receiving a foreclosure filing. Leavenworth County had the fourth highest rate, with one in every 299 housing units receiving a foreclosure filing.

 

Wyandotte County led the state in total foreclosures for the first quarter

Wyandotte County also led Kansas in total foreclosures, with 2,239 properties with a foreclosure filing during the first quarter. Johnson County had the second highest total, reporting 743 properties with foreclosure filings. Reporting 420 properties with foreclosure filings for the quarter, Sedgwick County came in third. Shawnee County was fourth, reporting 328 properties with foreclosure filings. Fifth highest total was Leavenworth County, where 95 properties with foreclosure filings were reported for the first quarter.

 

State a minor contributor to quarterly foreclosure total

Kansas represented less than 1 percent of the 932,234 properties with foreclosure filings reported nationwide for the first quarter of 2010. Total U.S. activity grew by more than 7 percent from the previous quarter and was 16 percent ahead of the first quarter 2009. One in every 138 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 – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

n/a

n/a

Kansas

0

434

0

800

2,861

4,095

300

0.46

n/a

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

120

0

218

1,901

2,239

30

4.57

9.88

Shawnee

0

62

0

140

126

328

242

0.57

1.24

Johnson

0

205

0

224

314

743

292

0.47

1.03

Leavenworth

0

7

0

36

52

95

299

0.46

1.00

Sedgwick

0

24

0

124

272

420

497

0.28

0.60

 

 

Kansas Top Foreclosure Totals by County – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q4 2009

% Chg Q1 2009

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

7.23

16.02

Kansas

0

434

0

800

2,861

4,095

300

59.34

60.53

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

120

0

218

1,901

2,239

30

327.29

153.85

Johnson

0

205

0

224

314

743

292

-15.38

17.19

Sedgwick

0

24

0

124

272

420

497

-11.39

-23.77

Shawnee

0

62

0

140

126

328

242

6.84

57.69

Leavenworth

0

7

0

36

52

95

299

-15.18

3.26

 

 

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