KENTUCKY FORECLOSURE ACTIVITY DECREASES 3 PERCENT IN FIRST QUARTER

State Foreclosure Activity Up 10 Percent From Q1 2008

Monthly Activity Up 6 percent in March, Down 9 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 1,735 Kentucky properties in the first quarter of 2009, a 3 percent decrease from the previous quarter, but still 10 percent above the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Kentucky reported 631 properties with foreclosure filings in March, a 6 percent increase from the previous month, but 9 percent below its March 2008 total.

 

“Foreclosure activity decreased slightly in Kentucky in the first quarter of 2009, though it remained higher than the level reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Throughout the quarter, the state remained in economic downturn, with mounting layoffs and record high unemployment.”

 

Kentucky ranked 35th in the country in total properties with foreclosure filings for the quarter. One in every 1,099 Kentucky housing units received a foreclosure filing during the month, the 42nd highest state foreclosure rate in the nation.

 

Jefferson County the single largest contributor to state total for the quarter

Jefferson County led the state reporting 871 properties with foreclosure filings. Kenton County was second, reporting 345 properties with foreclosure filings for the quarter. Fayette County was in third, reporting 145 properties with foreclosure filings. Campbell County posted the fourth highest total, documenting 85 properties with foreclosure filings.

 

Kenton County posts state’s top foreclosure rate in the state for first quarter

Kenton County led the state, with one in every 204 housing units receiving a foreclosure filing — 5.4 times the state average. Pendleton County came in a close second, with one in every 239 housing units receiving a foreclosure filing — 4.6 times the state average. Grant County registered the third highest foreclosure rate, where one in every 299 housing units received a foreclosure filing during the month — 3.7 times the state average.

 

State a minor contributor to nation’s foreclosure total for Q1 2009

Kentucky accounted for less than 1 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

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 quarter — 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 quarter — which is extremely rare — only the most recent filing is counted in the report.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                           Kentucky Foreclosure Market Data by County – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%Change from Q4 08

%Change from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16

23.63

Kentucky

0

116

28

1,003

588

1,735

1,099

-3.29

9.67

 

 

 

 

 

 

 

 

 

 

Adair

0

0

0

0

0

0

-100.00%

Allen

0

0

0

0

0

0

-100.00%

Anderson

0

0

0

2

0

2

4,502

-60.00%

Ballard

0

2

0

0

0

2

1,998

-33.33%

Barren

0

0

0

0

0

0

-100.00%

-100.00%

Bath

0

0

0

0

0

0

Bell

0

0

0

0

0

0

-100.00%

-100.00%

Boone

0

0

0

10

7

17

2,599

-15.00%

183.33%

Bourbon

0

0

0

1

6

7

1,281

-12.50%

Boyd

0

0

0

2

2

4

5,686

0.00%

100.00%

Boyle

0

0

0

2

0

2

6,174

100.00%

0.00%

Bracken

0

0

0

0

0

0

-100.00%

Breathitt

0

0

0

0

0

0

Breckinridge

0

2

0

0

0

2

5,191

-33.33%

Bullitt

0

0

0

2

1

3

9,827

-62.50%

200.00%

Butler

0

0

0

0

0

0

Caldwell

0

0

0

0

0

0

Calloway

0

3

0

0

0

3

5,693

-86.36%

-85.00%

Campbell

0

68

1

8

8

85

458

325.00%

37.10%

Carlisle

0

0

0

0

0

0

Carroll

0

0

0

1

3

4

1,147

Carter

0

0

0

0

0

0

Casey

0

0

0

0

0

0

-100.00%

Christian

0

0

1

1

23

25

1,158

0.00%

525.00%

Clark

0

0

1

2

0

3

5,274

0.00%

50.00%

Clay

0

0

0

0

0

0

-100.00%

Clinton

0

0

0

0

1

1

5,054

Crittenden

0

0

0

1

0

1

4,579

Cumberland

0

0

0

0

0

0

Daviess

0

0

0

1

2

3

14,229

-25.00%

200.00%

Edmonson

0

0

0

0

0

0

Elliott

0

0

0

0

0

0

Estill

0

0

0

0

0

0

-100.00%

Fayette

0

0

0

119

26

145

910

-46.49%

-2.03%

Fleming

0

0

0

0

0

0

-100.00%

Floyd

0

0

0

0

0

0

-100.00%

-100.00%

Franklin

0

0

0

1

0

1

23,015

0.00%

Fulton

0

7

0

1

1

9

417

125.00%

350.00%

Gallatin

0

0

0

0

0

0

-100.00%

Garrard

0

0

0

1

0

1

6,703

-66.67%

-50.00%

Grant

0

0

1

2

32

35

299

600.00%

1650.00%

Graves

0

0

0

0

1

1

16,854

-66.67%

Grayson

0

0

0

0

1

1

13,022

-66.67%

Green

0

0

0

1

0

1

5,466

Greenup

0

0

0

2

1

3

5,475

50.00%

0.00%

Hancock

0

0

1

1

0

2

1,839

100.00%

Hardin

0

13

0

2

46

61

716

-80.63%

2950.00%

Harlan

0

0

0

0

1

1

15,586

0.00%

Harrison

0

1

1

2

4

8

1,017

700.00%

700.00%

Hart

0

0

0

0

0

0

Henderson

0

0

0

1

0

1

20,651

0.00%

Henry

0

0

0

0

0

0

-100.00%

Hickman

0

0

0

0

0

0

Hopkins

0

0

1

0

0

1

21,625

Jackson

0

0

0

0

0

0

Jefferson

0

0

7

576

288

871

377

22.50%

-4.18%

Jessamine

0

0

0

1

0

1

18,503

-80.00%

-50.00%

Johnson

0

0

0

1

0

1

10,478

Kenton

0

0

3

227

115

345

204

64.29%

-4.70%

Knott

0

0

0

0

0

0

Knox

0

0

0

1

0

1

14,669

0.00%

Larue

0

0

0

0

0

0

-100.00%

-100.00%

Laurel

0

0

1

1

0

2

11,710

-33.33%

100.00%

Lawrence

0

0

0

0

1

1

7,382

0.00%

Lee

0

0

0

0

0

0

Leslie

0

0

0

1

0

1

5,789

Letcher

0

0

0

0

0

0

Lewis

0

0

0

1

0

1

6,465

0.00%

Lincoln

0

0

0

0

0

0

-100.00%

Livingston

0

0

0

0

0

0

-100.00%

Logan

0

0

0

0

0

0

-100.00%

Lyon

0

0

0

0

1

1

4,430

Madison

0

0

0

2

0

2

16,564

-71.43%

100.00%

Magoffin

0

0

0

0

0

0

Marion

0

0

0

1

0

1

7,510

0.00%

Marshall

0

0

0

0

1

1

15,382

-50.00%

0.00%

Martin

0

0

0

0

0

0

Mason

0

0

1

0

0

1

8,035

0.00%

McCracken

0

2

0

1

1

4

7,975

-69.23%

300.00%

McCreary

0

0

0

1

0

1

7,537

McLean

0

0

0

1

0

1

4,579

Meade

0

0

0

0

0

0

-100.00%

Menifee

0

0

1

1

0

2

1,944

100.00%

Mercer

0

0

0

2

0

2

5,038

-33.33%

Metcalfe

0

0

0

0

0

0

Monroe

0

0

1

0

0

1

5,510

Montgomery

0

0

0

1

1

2

5,539

-60.00%

100.00%

Morgan

0

0

0

1

0

1

5,783

Muhlenberg

0

0

0

0

0

0

-100.00%

Nelson

0

0

0

1

0

1

18,062

-66.67%

-50.00%

Nicholas

0

0

0

1

0

1

3,142

0.00%

Ohio

0

0

0

0

0

0

-100.00%

Oldham

0

0

1

2

1

4

5,084

-50.00%

300.00%

Owen

0

0

1

1

0

2

2,799

100.00%

Owsley

0

0

0

0

0

0

-100.00%

Pendleton

0

18

1

2

4

25

239

66.67%

78.57%

Perry

0

0

0

0

0

0

-100.00%

Pike

0

0

0

0

0

0

-100.00%

-100.00%

Powell

0

0

0

0

2

2

2,903

0.00%

Pulaski

0

0

0

1

0

1

27,776

0.00%

-50.00%

Robertson

0

0

1

0

0

1

1,076

Rockcastle

0

0

0

0

0

0

Rowan

0

0

0

1

0

1

9,401

0.00%

Russell

0

0

0

0

0

0

-100.00%

Scott

0

0

0

2

1

3

5,631

-25.00%

Shelby

0

0

1

1

1

3

5,358

-25.00%

200.00%

Simpson

0

0

0

0

0

0

-100.00%

Spencer

0

0

0

0

1

1

6,452

-50.00%

0.00%

Taylor

0

0

1

1

1

3

3,442

200.00%

200.00%

Todd

0

0

0

0

0

0

-100.00%

Trigg

0

0

0

1

0

1

7,062

0.00%

Trimble

0

0

0

0

0

0

-100.00%

Union

0

0

0

1

0

1

6,357

0.00%

Warren

0

0

0

0

0

0

-100.00%

Washington

0

0

0

0

0

0

-100.00%

Wayne

0

0

0

0

0

0

-100.00%

Webster

0

0

0

0

1

1

6,444

0.00%

-66.67%

Whitley

0

0

0

2

2

4

4,004

-20.00%

Wolfe

0

0

0

0

0

0

-100.00%

Woodford

0

0

1

0

0

1

10,472

-50.00%

0.00%

 

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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