Kansas Foreclosures Head Downward in August

Kansas foreclosure activity fell in August, down to 1,056 properties with foreclosure filings for the month, a 20 percent decrease from the previous month but still 46 percent above the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“After several months on the rise, Kansas foreclosures headed downward in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in bank-owned properties, which decreased nearly 40 percent for the month. The state’s unemployment rate is currently well below the national average and its home sales have started to pick up this year. If these trends continue, we may see foreclosures here decline further.”

 

Kansas ranked 35th in the country in total foreclosures reported for the month. With one in every 1,155 housing units receiving a foreclosure filing, its foreclosure rate ranked 35th again among the 50 states.

 

Wyandotte County posts state’s top foreclosure rate in August

Wyandotte County posted the highest county foreclosure rate in the state for August, with one in every 405 housing units receiving a foreclosure filing — 2.9 times the state average. Johnson County had the second highest foreclosure rate, with one in every 448 housing units receiving a foreclosure filing during the month — 2.6 times the state average. Shawnee County posted the third highest foreclosure rate, where one in every 884 housing units received a foreclosure filing.

 

Five counties accounted for 93 percent of state’s foreclosure activity for August

Johnson County led the way, tallying 479 properties with foreclosure filings for the month. Sedgwick County reported the second highest foreclosure total, documenting 227 properties with foreclosure filings. Reporting 167 properties with foreclosure filings for the month, Wyandotte County posted the third highest total in the state. Shawnee County was fourth highest, reporting 89 properties with foreclosure filings, while the fifth highest total was in Leavenworth County, where 25 properties with foreclosure filings were reported for the month.

 

State a minor contributor to nation’s foreclosure activity in August

Kansas accounted for less than one percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 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 Top Foreclosure Rates by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

Kansas

0

209

0

406

441

1,056

1,155

0.31

n/a

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

43

0

84

40

167

405

0.88

2.85

Johnson

0

87

0

119

273

479

448

0.80

2.58

Shawnee

0

19

0

54

16

89

884

0.40

1.31

Sedgwick

0

40

0

108

79

227

913

0.39

1.27

Leavenworth

0

10

0

8

7

25

1,120

0.32

1.03

 

 

Kansas Top Foreclosure Totals by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

Kansas

0

209

0

406

441

1,056

1,155

-19.94

45.66

 

 

 

 

 

 

 

 

 

 

Johnson

0

87

0

119

273

479

448

42.99

166.11

Sedgwick

0

40

0

108

79

227

913

-26.06

35.12

Wyandotte

0

43

0

84

40

167

405

-66.80

-27.39

Shawnee

0

19

0

54

16

89

884

-32.06

32.84

Leavenworth

0

10

0

8

7

25

1,120

177.78

-10.71

 

 

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