KANSAS FORECLOSURE ACTIVITY UP 76 PERCENT IN FEBRUARY

Foreclosure Activity Increases 157 Percent From February 2008

 

IRVINE, Calif. – March 27, 2009 – Kansas reported 1,171 properties with foreclosure filings in February, a 76 percent increase from the previous month and 157 percent above the level reported for February 2008, 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 1.5 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.

 

Kansas foreclosures are up significantly in February and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although the state’s unemployment rate continues to stay below the national average, its home sales fell nearly 20 percent in 2008. This, in addition to the overall economic decline, is likely to blame for the rise.”

 

Kansas ranked 30th in the country in total foreclosures reported for the month. With one in every 1,041 housing units receiving a foreclosure filing, its foreclosure rate ranked 28th among the 50 states.

 

Five counties account for bulk of state foreclosure activity in February

Five Kansas counties accounted for 92 percent of all foreclosure activity in the state during February. Wyandotte County led the way, reporting 538 properties with foreclosure filings for the month. Sedgwick County was second highest, reporting 233 properties with foreclosure filings. Third highest was Johnson County, reporting 187 properties with foreclosure filings. Shawnee County came in fourth place, documenting 73 properties with foreclosure filings. Leavenworth County posted the fifth highest foreclosure total, where 49 properties with foreclosure filings were reported.

 

Wyandotte County posts highest foreclosure rate for February

Wyandotte County reported the highest county foreclosure rate in Kansas for February, with one in every 126 housing units receiving a foreclosure filing — 8.3 times the state average and 3.5 times the national average. Leavenworth County came in second, with one in every 571 housing units receiving a foreclosure filing — 1.8 times the state average. Sedgwick County posted the third highest foreclosure rate, where one in every 889 housing units received a foreclosure filing during the month.

 

State contributes less than one percent to nation’s foreclosure total in February

Kansas accounted for less than one percent of the 290,631 properties with foreclosure filings reported nationwide in February. The national total represented a 6 percent increase in activity from the previous month and was 30 percent ahead of the total reported for February 2008. One in every 440 U.S. housing units 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 Data by County – February 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

54,064

55,509

78,234

28,729

74,095

290,631

440

n/a

n/a

Kansas

0

149

1

375

646

1,171

1,041

0.42

n/a

 

 

 

 

 

 

 

 

 

 

Allen

0

0

0

0

1

1

6,484

0.07

0.16

Anderson

0

0

0

0

0

0

 n/a

0.00

0.00

Atchison

0

0

0

0

1

1

6,978

0.06

0.15

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

0

0

0

 n/a

0.00

0.00

Brown

0

0

0

0

0

0

 n/a

0.00

0.00

Butler

0

0

1

1

7

9

2,850

0.15

0.37

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

0

0

0

 n/a

0.00

0.00

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

0

0

 n/a

0.00

0.00

Comanche

0

0

0

0

0

0

 n/a

0.00

0.00

Cowley

0

0

0

0

0

0

 n/a

0.00

0.00

Crawford

0

0

0

0

0

0

 n/a

0.00

0.00

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

7

0

29

11

47

989

0.44

1.05

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

1

1

13,915

0.03

0.07

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

0

0

0

 n/a

0.00

0.00

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

0

0

0

 n/a

0.00

0.00

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

1

0

1

8,206

0.05

0.13

Jewell

0

0

0

0

0

0

 n/a

0.00

0.00

Johnson

0

36

0

89

62

187

1,148

0.38

0.91

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

0

0

0

 n/a

0.00

0.00

Lane

0

0

0

0

0

0

 n/a

0.00

0.00

Leavenworth

0

11

0

21

17

49

571

0.77

1.82

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Linn

0

0

0

0

0

0

 n/a

0.00

0.00

Logan

0

0

0

0

0

0

 n/a

0.00

0.00

Lyon

0

0

0

0

1

1

15,222

0.03

0.07

Marion

0

0

0

0

0

0

 n/a

0.00

0.00

Marshall

0

0

0

0

0

0

 n/a

0.00

0.00

McPherson

0

0

0

0

0

0

 n/a

0.00

0.00

Meade

0

0

0

0

1

1

1,984

0.22

0.52

Miami

0

0

0

1

0

1

12,464

0.04

0.08

Mitchell

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

0

0

0

1

1

17,249

0.03

0.06

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

1

0

1

7,523

0.06

0.14

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

0

0

0

1

1

28,169

0.02

0.04

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

6

0

19

0

25

943

0.47

1.10

Scott

0

0

0

0

0

0

 n/a

0.00

0.00

Sedgwick

0

52

0

118

63

233

889

0.50

1.17

Seward

0

0

0

0

0

0

 n/a

0.00

0.00

Shawnee

0

12

0

35

26

73

1,078

0.41

0.97

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

25

0

60

453

538

126

3.50

8.29

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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