Kansas Foreclosure Activity Rises in Third Quarter

Total foreclosure filings up 40 percent from Q2; Up 47 percent from Q3 2008.

 

Kansas reported 3,402 properties with foreclosure filings in the third quarter of 2009, an increase of 40 percent from the previous quarter and 47 percent above the level reported in the third quarter of 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

Foreclosure activity in Kansas was up more than 20 percent in September from the previous month to 1,272 properties with foreclosure filings and up 22 percent from September 2008.

 

Kansas foreclosure activity soared again in the third quarter of 2009, with spikes reported during months of declining activity in many other states,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, Kansas remains in better shape in terms of both foreclosure activity and unemployment than much of the nation at this time.”

 

One in every 358 Kansas housing units received a foreclosure filing during the third quarter, ranking 31st among the 50 states.

 

Wyandotte County posts state’s top foreclosure rate in the third quarter

Wyandotte County posted the highest county foreclosure rate in the state for the third quarter, with one in every 76 housing units receiving a foreclosure filing — 1.8 times the national average and 4.7 times the state average. Johnson County posted the second highest county foreclosure rate, with one in every 202 housing units receiving a foreclosure filing during the quarter — 1.8 times the state average. Sedgwick County posted the third highest foreclosure rate, where one in every 257 housing units received a foreclosure filing — 1.4 times the state average.

 

Johnson County leads state in foreclosure activity in the third quarter

Johnson County led the state, reporting 1,065 properties with foreclosure filings for the quarter. Wyandotte County had the second highest foreclosure activity, reporting 892 properties with foreclosure filings. Sedgwick County came in third, tallying 807 properties with foreclosure filings. Shawnee County posted the fourth highest foreclosure activity for the quarter, reporting 292 properties with foreclosure filings. Leavenworth County documented 83 properties with foreclosure filings, the state’s fifth highest foreclosure total in the quarter.

 

State a minor contributor to nation’s foreclosure activity for quarter and month

Kansas accounted for less than 1 percent of the 937,840 properties with foreclosure filings reported nationwide for the third quarter and less than 1 percent of the 343,638 properties with foreclosure filings reported for September. Total U.S. activity declined 5.4 percent between the second and third quarter of the year, but was up 23 percent from the third quarter of 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter, the highest quarterly foreclosure rate since RealtyTrac began issuing its report in 2005.

 

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 – Q3 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

153,255

188,986

263,957

94,590

237,052

937,840

136

n/a

n/a

Kansas

0

538

0

1,129

1,735

3,402

358

0.38

n/a

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

121

0

233

538

892

76

1.80

4.73

Johnson

0

177

0

258

630

1,065

202

0.68

1.78

Sedgwick

0

156

0

398

253

807

257

0.53

1.40

Shawnee

0

51

0

130

111

292

270

0.51

1.33

Leavenworth

0

13

0

33

37

83

337

0.40

1.06

 

 

Kansas Top Foreclosure Totals by County – Q3 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 09

% Chg Q3 08

 

 

 

 

 

 

 

 

 

 

United States

153,255

188,986

263,957

94,590

237,052

937,840

136

5.40

22.50

Kansas

0

538

0

1,129

1,735

3,402

358

39.71

47.08

 

 

 

 

 

 

 

 

 

 

Johnson

0

177

0

258

630

1,065

202

37.77

108.41

Wyandotte

0

121

0

233

538

892

76

80.57

2.88

Sedgwick

0

156

0

398

253

807

257

12.08

53.42

Shawnee

0

51

0

130

111

292

270

35.19

52.88

Leavenworth

0

13

0

33

37

83

337

16.90

18.57

 

 

Kansas Top Foreclosure Rates By County – Sept 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

56,979

65,186

97,925

35,727

87,821

343,638

372

n/a

n/a

Kansas

0

243

0

443

586

1,272

959

0.39

n/a

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

49

0

72

148

269

251

1.48

3.81

Leavenworth

0

10

0

27

22

59

475

0.78

2.02

Johnson

0

56

0

121

198

375

573

0.65

1.67

Sedgwick

0

97

0

141

78

316

656

0.57

1.46

Jefferson

0

0

0

0

9

9

912

0.41

1.05

 

 

Kansas Top Foreclosure Totals by County – Sept 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Aug 09

% Chg Sept 08

 

 

 

 

 

 

 

 

 

 

United States

56,979

65,186

97,925

35,727

87,821

343,638

372

-4.14

29.20

Kansas

0

243

0

443

586

1,272

959

20.45

22.43

 

 

 

 

 

 

 

 

 

 

Johnson

0

56

0

121

198

375

573

-21.71

92.31

Sedgwick

0

97

0

141

78

316

656

39.21

71.74

Wyandotte

0

49

0

72

148

269

251

61.08

-45.21

Shawnee

0

21

0

42

20

83

948

-6.74

13.70

Leavenworth

0

10

0

27

22

59

475

136.00

180.95

 

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