KANSAS FORECLOSURE ACTIVITY UP 155 PERCENT IN 2008

More than 6,200 Properties Receive Foreclosure Filings During The Year

 

IRVINE, Calif. – Jan. 28, 2009 – Foreclosure filings were reported on 6,218 Kansas properties in 2008, an increase of 155 percent from 2007 and a 180 percent increase from 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The Sunflower State reported 638 properties with foreclosure filings in December, down 10 percent from the previous month but a 74 percent increase over December 2007.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Although foreclosure activity more than doubled in Kansas last year, its foreclosure rate was well below the national average,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate was nearly 2 percent below the national average, and its home values did not fall as far as national levels. These factors are likely keeping foreclosures here lower than in other regions around the country.”

 

Kansas ranked 36th in the country in total foreclosures for the year. With one in every 194 housing units receiving a foreclosure filing, its foreclosure rate ranked 36th among the 50 states.

 

Top five counties responsible for bulk of state’s foreclosure activity in 2008

Five Kansas counties accounted for 92 percent of all foreclosure activity in the state for 2008. Wyandotte County led the way, reporting 1,940 properties with foreclosure filings for the year. Sedgwick County came in second highest, reporting 1,540 properties with foreclosure filings. Johnson County registered the third highest total, reporting 1,465 properties with foreclosure filings. Shawnee County was fourth, reporting 516 properties with foreclosure filings. Leavenworth County came in fifth, documenting 209 properties with foreclosure filings.

 

Wyandotte County posts state’s top foreclosure rate for 2008

With 2.89 percent of its housing units receiving at least one foreclosure filing during the year, Wyandotte County posted the top foreclosure rate in the state for 2008. Leavenworth County had the second highest rate, with 0.76 percent of its housing units receiving at least one foreclosure filing. Third highest was Sedgwick County, where 0.75 percent of the housing stock received at least one foreclosure filing in 2008.

 

State a minor contributor to nation’s foreclosure total for 2008

Kansas accounted for less than 1 percent of the 2,330,483 properties with foreclosure filings reported nationwide in 2008. The national total represented an increase of more than 81 percent from the total reported for 2007. For the year 1.84 percent of all U.S. housing units received at least one foreclosure filing, up from 1.03 percent in 2007.

 

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 Foreclosure Market Data by County – Yearend 2008

 

Rate Rank

County

Total Properties With Foreclosure Filings

% Housing Units

(Foreclosure Rate)

% Change From 2007

 

 

 

 

 

n/a

United States

2,330,483

1.84

81.24

n/a

Kansas

6,218

0.51

155.46

 

 

 

 

 

68

Allen

0

0.00

n/a

68

Anderson

0

0.00

-100.00

13

Atchison

8

0.11

700.00

68

Barber

0

0.00

-100.00

63

Barton

2

0.02

100.00

21

Bourbon

5

0.07

n/a

40

Brown

2

0.04

n/a

6

Butler

146

0.58

1023.08

68

Chase

0

0.00

n/a

37

Chautauqua

1

0.04

0.00

34

Cherokee

5

0.05

66.67

68

Cheyenne

0

0.00

n/a

68

Clark

0

0.00

-100.00

15

Clay

4

0.10

300.00

39

Cloud

2

0.04

100.00

18

Coffey

3

0.07

n/a

68

Comanche

0

0.00

n/a

28

Cowley

10

0.06

11.11

61

Crawford

4

0.02

-50.00

68

Decatur

0

0.00

n/a

65

Dickinson

1

0.01

n/a

54

Doniphan

1

0.03

n/a

7

Douglas

164

0.36

156.25

31

Edwards

1

0.06

n/a

33

Elk

1

0.05

n/a

59

Ellis

3

0.02

200.00

68

Ellsworth

0

0.00

n/a

68

Finney

0

0.00

-100.00

49

Ford

4

0.03

100.00

27

Franklin

7

0.06

16.67

62

Geary

2

0.02

-50.00

20

Gove

1

0.07

-50.00

68

Graham

0

0.00

n/a

51

Grant

1

0.03

n/a

68

Gray

0

0.00

n/a

12

Greeley

1

0.14

n/a

60

Greenwood

1

0.02

0.00

17

Hamilton

1

0.08

n/a

68

Harper

0

0.00

-100.00

23

Harvey

9

0.06

12.50

68

Haskell

0

0.00

n/a

68

Hodgeman

0

0.00

n/a

68

Jackson

0

0.00

n/a

19

Jefferson

6

0.07

200.00

68

Jewell

0

0.00

n/a

4

Johnson

1,465

0.69

163.49

68

Kearny

0

0.00

n/a

57

Kingman

1

0.03

n/a

68

Kiowa

0

0.00

n/a

47

Labette

4

0.04

100.00

68

Lane

0

0.00

n/a

2

Leavenworth

209

0.76

83.33

32

Lincoln

1

0.05

n/a

11

Linn

7

0.14

n/a

68

Logan

0

0.00

n/a

67

Lyon

1

0.01

-50.00

50

Marion

2

0.03

100.00

46

Marshall

2

0.04

n/a

35

Mcpherson

6

0.05

0.00

68

Meade

0

0.00

n/a

10

Miami

18

0.15

200.00

68

Mitchell

0

0.00

n/a

42

Montgomery

7

0.04

75.00

29

Morris

2

0.06

n/a

68

Morton

0

0.00

n/a

36

Nemaha

2

0.04

n/a

45

Neosho

3

0.04

50.00

8

Ness

5

0.27

n/a

68

Norton

0

0.00

n/a

43

Osage

3

0.04

-25.00

68

Osborne

0

0.00

n/a

48

Ottawa

1

0.04

n/a

24

Pawnee

2

0.06

n/a

52

Phillips

1

0.03

n/a

58

Pottawatomie

2

0.02

n/a

26

Pratt

3

0.06

n/a

25

Rawlins

1

0.06

n/a

30

Reno

16

0.06

45.45

68

Republic

0

0.00

n/a

22

Rice

3

0.06

200.00

66

Riley

2

0.01

100.00

68

Rooks

0

0.00

n/a

68

Rush

0

0.00

-100.00

56

Russell

1

0.03

0.00

9

Saline

42

0.18

27.27

68

Scott

0

0.00

n/a

3

Sedgwick

1,540

0.75

143.29

64

Seward

1

0.01

-50.00

5

Shawnee

516

0.66

113.22

68

Sheridan

0

0.00

n/a

16

Sherman

3

0.09

200.00

68

Smith

0

0.00

n/a

41

Stafford

1

0.04

n/a

68

Stanton

0

0.00

n/a

38

Stevens

1

0.04

n/a

55

Sumner

3

0.03

-62.50

68

Thomas

0

0.00

n/a

68

Trego

0

0.00

n/a

68

Wabaunsee

0

0.00

n/a

68

Wallace

0

0.00

n/a

53

Washington

1

0.03

n/a

68

Wichita

0

0.00

n/a

44

Wilson

2

0.04

n/a

14

Woodson

2

0.10

n/a

1

Wyandotte

1,940

2.89

192.61

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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