KENTUCKY FORECLOSURE ACTIVITY DOWN 11 PERCENT IN FEBRUARY

Foreclosure Activity Increases 26 Percent From February 2008

 

IRVINE, Calif. – March 27, 2009 – Foreclosure filings were reported on 598 Kentucky properties in February, an 11 percent decrease from the previous month, but still 26 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.

 

“Although Kentucky foreclosures declined if February, they are still up significantly from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate is currently well above the national average and that its home sales declined 20 percent in 2008. These factors are likely contributing to the overall rise.”

 

Kentucky ranked 35th in the country in total foreclosures reported for the month. With one in every 3,187 housing units receiving a foreclosure filing, its foreclosure rate ranked 43rd among the 50 states.

 

Five counties account for bulk of state foreclosure activity in February

Five Kentucky counties accounted for 84 percent of all foreclosure activity in the state during February. Jefferson County led the way, reporting 215 properties with foreclosure filings for the month. Kenton County was second highest, reporting 141 properties with foreclosure filings. Third highest was Campbell County, reporting 87 properties with foreclosure filings. Grant County came in fourth place, documenting 34 properties with foreclosure filings. Fifth highest total was tallied in Hardin County, where 25 properties with foreclosure filings were reported.

 

Grant County posts highest foreclosure rate for February

Grant County reported the highest county foreclosure rate in Kentucky for February, with one in every 307 housing units receiving a foreclosure filing — 10.4 times the state average. Campbell County came in second, with one in every 447 housing units receiving a foreclosure filing — seven times the state average. Kenton County posted the third highest foreclosure rate, where one in every 499 housing units received a foreclosure filing during the month — 6.4 times the state average.

 

State contributes less than 1 percent to nation’s foreclosure total in February

Kentucky accounted for less than 1 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.

 

            Kentucky 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

Kentucky

0

95

0

219

284

598

3,187

0.14

n/a

 

 

 

 

 

 

 

 

 

 

Adair

0

0

0

0

0

0

 n/a

0.00

0.00

Allen

0

0

0

0

0

0

 n/a

0.00

0.00

Anderson

0

0

0

0

1

1

9,004

0.05

0.35

Ballard

0

0

0

0

0

0

 n/a

0.00

0.00

Barren

0

0

0

0

0

0

 n/a

0.00

0.00

Bath

0

0

0

0

0

0

 n/a

0.00

0.00

Bell

0

0

0

0

0

0

 n/a

0.00

0.00

Boone

0

0

0

1

9

10

4,419

0.10

0.72

Bourbon

0

0

0

0

7

7

1,281

0.34

2.49

Boyd

0

0

0

0

1

1

22,742

0.02

0.14

Boyle

0

0

0

0

2

2

6,174

0.07

0.52

Bracken

0

0

0

0

0

0

 n/a

0.00

0.00

Breathitt

0

0

0

0

0

0

 n/a

0.00

0.00

Breckinridge

0

1

0

0

0

1

10,382

0.04

0.31

Bullitt

0

0

0

0

2

2

14,741

0.03

0.22

Butler

0

0

0

0

0

0

 n/a

0.00

0.00

Caldwell

0

0

0

0

0

0

 n/a

0.00

0.00

Calloway

0

0

0

0

0

0

 n/a

0.00

0.00

Campbell

0

75

0

0

12

87

447

0.98

7.13

Carlisle

0

0

0

0

0

0

 n/a

0.00

0.00

Carroll

0

0

0

0

0

0

 n/a

0.00

0.00

Carter

0

0

0

0

0

0

 n/a

0.00

0.00

Casey

0

0

0

0

0

0

 n/a

0.00

0.00

Christian

0

0

0

0

11

11

2,631

0.17

1.21

Clark

0

0

0

0

2

2

7,912

0.06

0.40

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Clinton

0

0

0

0

1

1

5,054

0.09

0.63

Crittenden

0

0

0

0

0

0

 n/a

0.00

0.00

Cumberland

0

0

0

0

0

0

 n/a

0.00

0.00

Daviess

0

0

0

0

2

2

21,344

0.02

0.15

Edmonson

0

0

0

0

0

0

 n/a

0.00

0.00

Elliott

0

0

0

0

0

0

 n/a

0.00

0.00

Estill

0

0

0

0

0

0

 n/a

0.00

0.00

Fayette

0

0

0

8

1

9

14,668

0.03

0.22

Fleming

0

0

0

0

0

0

 n/a

0.00

0.00

Floyd

0

0

0

0

0

0

 n/a

0.00

0.00

Franklin

0

0

0

0

1

1

23,015

0.02

0.14

Fulton

0

2

0

0

0

2

1,878

0.23

1.70

Gallatin

0

0

0

0

0

0

 n/a

0.00

0.00

Garrard

0

0

0

0

1

1

6,703

0.07

0.48

Grant

0

0

0

1

33

34

307

1.43

10.37

Graves

0

0

0

0

1

1

16,854

0.03

0.19

Grayson

0

0

0

0

0

0

 n/a

0.00

0.00

Green

0

0

0

0

1

1

5,466

0.08

0.58

Greenup

0

0

0

0

0

0

 n/a

0.00

0.00

Hancock

0

0

0

0

0

0

 n/a

0.00

0.00

Hardin

0

8

0

0

17

25

1,748

0.25

1.82

Harlan

0

0

0

0

0

0

 n/a

0.00

0.00

Harrison

0

1

0

0

4

5

1,627

0.27

1.96

Hart

0

0

0

0

0

0

 n/a

0.00

0.00

Henderson

0

0

0

1

0

1

20,651

0.02

0.15

Henry

0

0

0

0

0

0

 n/a

0.00

0.00

Hickman

0

0

0

0

0

0

 n/a

0.00

0.00

Hopkins

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

116

99

215

1,527

0.29

2.09

Jessamine

0

0

0

0

1

1

18,503

0.02

0.17

Johnson

0

0

0

0

1

1

10,478

0.04

0.30

Kenton

0

0

0

91

50

141

499

0.88

6.39

Knott

0

0

0

0

0

0

 n/a

0.00

0.00

Knox

0

0

0

0

0

0

 n/a

0.00

0.00

Larue

0

0

0

0

0

0

 n/a

0.00

0.00

Laurel

0

0

0

0

1

1

23,420

0.02

0.14

Lawrence

0

0

0

0

0

0

 n/a

0.00

0.00

Lee

0

0

0

0

0

0

 n/a

0.00

0.00

Leslie

0

0

0

0

1

1

5,789

0.08

0.55

Letcher

0

0

0

0

0

0

 n/a

0.00

0.00

Lewis

0

0

0

0

1

1

6,465

0.07

0.49

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Livingston

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

0

0

 n/a

0.00

0.00

Madison

0

0

0

0

0

0

 n/a

0.00

0.00

Magoffin

0

0

0

0

0

0

 n/a

0.00

0.00

Marion

0

0

0

0

1

1

7,510

0.06

0.42

Marshall

0

0

0

0

0

0

 n/a

0.00

0.00

Martin

0

0

0

0

0

0

 n/a

0.00

0.00

Mason

0

0

0

0

1

1

8,035

0.05

0.40

McCracken

0

0

0

0

0

0

 n/a

0.00

0.00

McCreary

0

0

0

0

1

1

7,537

0.06

0.42

Mclean

0

0

0

0

0

0

 n/a

0.00

0.00

Meade

0

0

0

0

0

0

 n/a

0.00

0.00

Menifee

0

0

0

0

1

1

3,888

0.11

0.82

Mercer

0

0

0

0

0

0

 n/a

0.00

0.00

Metcalfe

0

0

0

0

0

0

 n/a

0.00

0.00

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

0

0

0

1

1

11,077

0.04

0.29

Morgan

0

0

0

0

0

0

 n/a

0.00

0.00

Muhlenberg

0

0

0

0

0

0

 n/a

0.00

0.00

Nelson

0

0

0

0

1

1

18,062

0.02

0.18

Nicholas

0

0

0

1

0

1

3,142

0.14

1.01

Ohio

0

0

0

0

0

0

 n/a

0.00

0.00

Oldham

0

0

0

0

3

3

6,778

0.06

0.47

Owen

0

0

0

0

1

1

5,597

0.08

0.57

Owsley

0

0

0

0

0

0

 n/a

0.00

0.00

Pendleton

0

8

0

0

1

9

664

0.66

4.80

Perry

0

0

0

0

0

0

 n/a

0.00

0.00

Pike

0

0

0

0

0

0

 n/a

0.00

0.00

Powell

0

0

0

0

1

1

5,805

0.08

0.55

Pulaski

0

0

0

0

1

1

27,776

0.02

0.11

Robertson

0

0

0

0

1

1

1,076

0.41

2.96

Rockcastle

0

0

0

0

0

0

 n/a

0.00

0.00

Rowan

0

0

0

0

1

1

9,401

0.05

0.34

Russell

0

0

0

0

0

0

 n/a

0.00

0.00

Scott

0

0

0

0

1

1

16,892

0.03

0.19

Shelby

0

0

0

0

1

1

16,075

0.03

0.20

Simpson

0

0

0

0

0

0

 n/a

0.00

0.00

Spencer

0

0

0

0

0

0

 n/a

0.00

0.00

Taylor

0

0

0

0

2

2

5,163

0.09

0.62

Todd

0

0

0

0

0

0

 n/a

0.00

0.00

Trigg

0

0

0

0

1

1

7,062

0.06

0.45

Trimble

0

0

0

0

0

0

 n/a

0.00

0.00

Union

0

0

0

0

0

0

 n/a

0.00

0.00

Warren

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

Wayne

0

0

0

0

0

0

 n/a

0.00

0.00

Webster

0

0

0

0

0

0

 n/a

0.00

0.00

Whitley

0

0

0

0

1

1

16,016

0.03

0.20

Wolfe

0

0

0

0

0

0

 n/a

0.00

0.00

Woodford

0

0

0

0

0

0

 n/a

0.00

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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