KANSAS FORECLOSURE ACTIVITY UP 56 PERCENT IN MARCH

State Filings Up 59 Percent From March 2007

 

IRVINE, Calif. – April 30, 2008 – Kansas reported 710 properties with foreclosure filings in March. After a 32 percent increase in February, statewide activity increased 56 percent for the month and was 59 percent above the level reported for March 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 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.

 

“After a significant increase in February, foreclosure activity in Kansas increased significantly again in March and is well ahead of this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Wages throughout the state are much lower than in most of the country. Combine that with the high cost of home prices during the past few years and it is easy to see why homeowners might be finding it tough to keep up with their elevated mortgage payments every month.”

 

Kansas ranked 30th in the country in total foreclosure filings for the month. With one in every 1,701 households receiving a foreclosure filing, its foreclosure rate ranked 31st among the 50 states.

 

Top three counties responsible for bulk of state’s foreclosure activity

Three Kansas counties accounted for 74 percent of all foreclosure activity in the state for March. Johnson County led the state with the highest total for the month, reporting 214 properties with foreclosure filings. Sedgwick County came in second, documenting 161 properties with foreclosure filings. Wyandotte County was third highest, reporting 147 properties with foreclosure filings. Fourth highest was Shawnee County, where 84 properties with foreclosure filings were reported. Butler County came in fifth, reporting 40 properties with foreclosure filings.

 

Wyandotte County posts top foreclosure rate for March

Wyandotte County tallied the highest county foreclosure rate in the state in March, with one in every 457 households receiving a foreclosure filing for the month — 3.7 times the state average and 1.2 times the national average. Butler County posted the state’s second highest rate, with one in every 635 households receiving a foreclosure filing during the month — 2.7 times the state average. The third highest rate in the state was reported in Shawnee County, where one in every 931 households received a foreclosure filing in March — 1.8 times the state average.

 

State a minor contributor to nation’s foreclosure total in March

Total filings in Kansas accounted for less than 1 percent of the 234,685 properties with foreclosure filings reported nationwide in March. The national total represents a 5 percent increase from the previous month and is 57 percent ahead of the total reported for March 2007. One in every 538 U.S. households 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 Foreclosure Market by County – March 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,493

47,677

55,398

23,724

51,393

234,685

538

n/a

n/a

Kansas

0

114

2

331

263

710

1,701

0.32

n/a

 

 

 

 

 

 

 

 

 

 

Allen

0

0

0

0

0

0

 n/a

0.00

0.00

Anderson

0

0

0

0

0

0

 n/a

0.00

0.00

Atchison

0

1

0

0

0

1

6,968

0.08

0.24

Barber

0

0

0

0

0

0

 n/a

0.00

0.00

Barton

0

0

0

0

0

0

 n/a

0.00

0.00

Bourbon

0

0

0

1

0

1

7,305

0.07

0.23

Brown

0

0

0

0

0

0

 n/a

0.00

0.00

Butler

0

0

0

2

38

40

635

0.85

2.68

Chase

0

0

0

0

0

0

 n/a

0.00

0.00

Chautauqua

0

0

0

0

0

0

 n/a

0.00

0.00

Cherokee

0

0

0

1

0

1

10,347

0.05

0.16

Cheyenne

0

0

0

0

0

0

 n/a

0.00

0.00

Clark

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Cloud

0

0

0

0

0

0

 n/a

0.00

0.00

Coffey

0

0

0

0

1

1

4,049

0.13

0.42

Comanche

0

0

0

0

0

0

 n/a

0.00

0.00

Cowley

0

0

0

0

1

1

16,144

0.03

0.11

Crawford

0

0

1

0

0

1

18,056

0.03

0.09

Decatur

0

0

0

0

0

0

 n/a

0.00

0.00

Dickinson

0

0

0

0

0

0

 n/a

0.00

0.00

Doniphan

0

0

0

0

0

0

 n/a

0.00

0.00

Douglas

0

1

0

8

3

12

3,822

0.14

0.45

Edwards

0

0

0

0

0

0

 n/a

0.00

0.00

Elk

0

0

0

0

0

0

 n/a

0.00

0.00

Ellis

0

0

0

0

0

0

 n/a

0.00

0.00

Ellsworth

0

0

0

0

0

0

 n/a

0.00

0.00

Finney

0

0

0

0

0

0

 n/a

0.00

0.00

Ford

0

0

0

0

0

0

 n/a

0.00

0.00

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Geary

0

0

0

1

0

1

12,147

0.04

0.14

Gove

0

0

0

0

0

0

 n/a

0.00

0.00

Graham

0

0

0

0

0

0

 n/a

0.00

0.00

Grant

0

0

0

0

0

0

 n/a

0.00

0.00

Gray

0

0

0

0

0

0

 n/a

0.00

0.00

Greeley

0

0

0

0

0

0

 n/a

0.00

0.00

Greenwood

0

0

0

0

0

0

 n/a

0.00

0.00

Hamilton

0

0

0

0

0

0

 n/a

0.00

0.00

Harper

0

0

0

0

0

0

 n/a

0.00

0.00

Harvey

0

0

0

1

1

2

7,041

0.08

0.24

Haskell

0

0

0

0

0

0

 n/a

0.00

0.00

Hodgeman

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

0

0

0

0

0

0

 n/a

0.00

0.00

Jewell

0

0

0

0

0

0

 n/a

0.00

0.00

Johnson

0

36

1

98

79

214

988

0.55

1.72

Kearny

0

0

0

0

0

0

 n/a

0.00

0.00

Kingman

0

0

0

0

0

0

 n/a

0.00

0.00

Kiowa

0

0

0

0

0

0

 n/a

0.00

0.00

Labette

0

0

0

1

0

1

10,398

0.05

0.16

Lane

0

0

0

0

0

0

 n/a

0.00

0.00

Leavenworth

0

3

0

12

14

29

951

0.57

1.79

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Linn

0

0

0

0

1

1

5,024

0.11

0.34

Logan

0

0

0

0

0

0

 n/a

0.00

0.00

Lyon

0

0

0

0

0

0

 n/a

0.00

0.00

Marion

0

0

0

0

0

0

 n/a

0.00

0.00

Marshall

0

0

0

0

1

1

5,086

0.11

0.33

Mcpherson

0

0

0

1

0

1

12,462

0.04

0.14

Meade

0

0

0

0

0

0

 n/a

0.00

0.00

Miami

0

0

0

0

1

1

12,270

0.04

0.14

Mitchell

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

0

0

0

1

1

17,284

0.03

0.10

Morris

0

0

0

0

0

0

 n/a

0.00

0.00

Morton

0

0

0

0

0

0

 n/a

0.00

0.00

Nemaha

0

0

0

0

0

0

 n/a

0.00

0.00

Neosho

0

0

0

0

0

0

 n/a

0.00

0.00

Ness

0

0

0

0

0

0

 n/a

0.00

0.00

Norton

0

0

0

0

0

0

 n/a

0.00

0.00

Osage

0

0

0

0

0

0

 n/a

0.00

0.00

Osborne

0

0

0

0

0

0

 n/a

0.00

0.00

Ottawa

0

0

0

0

0

0

 n/a

0.00

0.00

Pawnee

0

0

0

0

0

0

 n/a

0.00

0.00

Phillips

0

0

0

0

0

0

 n/a

0.00

0.00

Pottawatomie

0

0

0

0

0

0

 n/a

0.00

0.00

Pratt

0

0

0

0

0

0

 n/a

0.00

0.00

Rawlins

0

0

0

0

0

0

 n/a

0.00

0.00

Reno

0

1

0

0

0

1

28,093

0.02

0.06

Republic

0

0

0

0

0

0

 n/a

0.00

0.00

Rice

0

0

0

0

0

0

 n/a

0.00

0.00

Riley

0

0

0

0

0

0

 n/a

0.00

0.00

Rooks

0

0

0

0

0

0

 n/a

0.00

0.00

Rush

0

0

0

0

0

0

 n/a

0.00

0.00

Russell

0

0

0

0

0

0

 n/a

0.00

0.00

Saline

0

2

0

4

0

6

3,914

0.14

0.43

Scott

0

0

0

0

0

0

 n/a

0.00

0.00

Sedgwick

0

24

0

77

60

161

1,270

0.42

1.34

Seward

0

0

0

1

0

1

8,101

0.07

0.21

Shawnee

0

8

0

47

29

84

931

0.58

1.83

Sheridan

0

0

0

0

0

0

 n/a

0.00

0.00

Sherman

0

0

0

0

0

0

 n/a

0.00

0.00

Smith

0

0

0

0

0

0

 n/a

0.00

0.00

Stafford

0

0

0

0

0

0

 n/a

0.00

0.00

Stanton

0

0

0

0

0

0

 n/a

0.00

0.00

Stevens

0

0

0

0

0

0

 n/a

0.00

0.00

Sumner

0

0

0

0

0

0

 n/a

0.00

0.00

Thomas

0

0

0

0

0

0

 n/a

0.00

0.00

Trego

0

0

0

0

0

0

 n/a

0.00

0.00

Wabaunsee

0

0

0

0

0

0

 n/a

0.00

0.00

Wallace

0

0

0

0

0

0

 n/a

0.00

0.00

Washington

0

0

0

0

0

0

n/a 

0.00

0.00

Wichita

0

0

0

0

0

0

 n/a

0.00

0.00

Wilson

0

0

0

0

0

0

 n/a

0.00

0.00

Woodson

0

0

0

0

0

0

 n/a

0.00

0.00

Wyandotte

0

38

0

76

33

147

457

1.18

3.72

           

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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