MICHIGAN FORECLOSURE ACTIVITY DOWN 13 PERCENT IN APRIL

Foreclosure Activity Level Down 12 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 10,830 Michigan properties in April, a 13 percent decline from the previous month, and 12 percent below the level reported for April 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.

 

“Foreclosure activity in Michigan declined in April and remained below the amount reported at the same time one year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “But with Michigan unemployment rate edging higher in April, rising to 12.9 percent, foreclosure activity could increase in the coming months as General Motors and Chrysler unveils their bankruptcy reorganization plans.”

 

Michigan ranked ninth in the country in total properties with foreclosure filings for April. One in every 418 Michigan housing units received a foreclosure filing during the month, the 11th highest state foreclosure rate in the nation.

 

Wayne County leads state in foreclosure activity in April

Wayne County led the state, reporting 2,849 properties with foreclosure filings for the month. Oakland County reported 1,719 properties with foreclosure filings, the state’s second highest county total. Macomb County came in third highest, reporting 1,030 properties with foreclosure filings. Kent County came in fourth, documenting 805 properties with foreclosure filings, while the fifth highest total was in Genesee County, where 754 properties with foreclosure filings were reported for the month.

 

Livingston County post state’s top foreclosure rate in April

Livingston County topped the list, with one in every 215 housing units receiving a foreclosure filing — 1.9 times the state average and 1.7 times the national average. Genesee County had the second highest foreclosure rate, with one in every 262 housing units receiving a foreclosure filing — 1.6 times the state average. Wayne County documented the third highest foreclosure rate, where one in every 295 housing units received a foreclosure filing during the month.

 

State a significant contributor to nation’s foreclosure total in April

Michigan accounted for 3 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 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.

 

          Michigan Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Michigan

0

0

7,270

0

3,560

10,830

418

-12.78

-11.77

 

 

 

 

 

 

 

 

 

 

Alcona

0

0

7

0

0

7

1,594

133.33

 n/a

Alger

0

0

3

0

0

3

2,185

50.00

 n/a

Allegan

0

0

44

0

29

73

663

-40.65

-21.51

Alpena

0

0

12

0

0

12

1,298

9.09

1100.00

Antrim

0

0

20

0

0

20

829

11.11

900.00

Arenac

0

0

16

0

0

16

630

60.00

 n/a

Baraga

0

0

1

0

1

2

2,435

100.00

 n/a

Barry

0

0

25

0

13

38

687

-40.63

35.71

Bay

0

0

40

0

10

50

963

-12.28

-15.25

Benzie

0

0

7

0

0

7

1,697

40.00

 n/a

Berrien

0

0

66

0

35

101

762

-33.99

65.57

Branch

0

0

25

0

1

26

797

0.00

 n/a

Calhoun

0

0

119

0

55

174

349

-16.75

19.18

Cass

0

0

16

0

1

17

1,510

-34.62

240.00

Charlevoix

0

0

10

0

0

10

1,741

-16.67

150.00

Cheboygan

0

0

8

0

0

8

2,235

0.00

300.00

Chippewa

0

0

11

0

1

12

1,718

0.00

 n/a

Clare

0

0

11

0

0

11

2,098

-8.33

450.00

Clinton

0

0

25

0

23

48

619

-18.64

-9.43

Crawford

0

0

7

0

0

7

1,533

40.00

 n/a

Delta

0

0

9

0

0

9

2,240

-10.00

 n/a

Dickinson

0

0

3

0

0

3

4,709

50.00

 n/a

Eaton

0

0

83

0

35

118

387

-24.36

24.21

Emmet

0

0

32

0

0

32

659

39.13

3100.00

Genesee

0

0

385

0

369

754

262

37.34

-6.68

Gladwin

0

0

20

0

0

20

915

11.11

900.00

Gogebic

0

0

3

0

0

3

3,691

 n/a

 n/a

Grand Traverse

0

0

38

0

0

38

1,068

-24.00

850.00

Gratiot

0

0

5

0

1

6

2,653

-72.73

500.00

Hillsdale

0

0

24

0

1

25

870

-3.85

1150.00

Houghton

0

0

2

0

0

2

9,225

-50.00

 n/a

Huron

0

0

8

0

0

8

2,664

0.00

700.00

Ingham

0

0

206

0

124

330

367

-36.42

-6.25

Ionia

0

0

34

0

1

35

688

-25.53

483.33

Iosco

0

0

13

0

1

14

1,514

16.67

1300.00

Iron

0

0

6

0

0

6

1,509

0.00

 n/a

Isabella

0

0

17

0

0

17

1,691

-29.17

750.00

Jackson

0

0

126

0

7

133

511

-18.90

118.03

Kalamazoo

0

0

73

0

45

118

914

-31.40

-40.40

Kalkaska

0

0

14

0

0

14

838

7.69

600.00

Kent

0

0

472

0

333

805

302

-3.13

-1.35

Keweenaw

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lake

0

0

4

0

1

5

2,858

150.00

 n/a

Lapeer

0

0

80

0

38

118

303

-26.25

187.80

Leelanau

0

0

4

0

0

4

3,732

-42.86

 n/a

Lenawee

0

0

60

0

2

62

692

-23.46

933.33

Livingston

0

0

136

0

201

337

215

87.22

40.42

Luce

0

0

1

0

0

1

4,330

 n/a

 n/a

Mackinac

0

0

1

0

1

2

5,195

-66.67

100.00

Macomb

0

0

627

0

403

1,030

343

-20.16

-30.83

Manistee

0

0

8

0

0

8

1,861

-27.27

700.00

Marquette

0

0

14

0

0

14

2,465

27.27

 n/a

Mason

0

0

12

0

1

13

1,323

0.00

550.00

Mecosta

0

0

16

0

4

20

1,076

-4.76

400.00

Menominee

0

0

3

0

0

3

4,786

-57.14

 n/a

Midland

0

0

19

0

12

31

1,139

-44.64

1450.00

Missaukee

0

0

5

0

0

5

1,830

-64.29

 n/a

Monroe

0

0

93

0

4

97

654

-29.20

3133.33

Montcalm

0

0

25

0

2

27

1,020

-82.35

145.45

Montmorency

0

0

9

0

0

9

1,082

12.50

 n/a

Muskegon

0

0

110

0

61

171

429

-32.68

71.00

Newaygo

0

0

29

0

0

29

856

-6.45

 n/a

Oakland

0

0

888

0

831

1,719

305

-14.31

-18.49

Oceana

0

0

15

0

0

15

1,070

-21.05

 n/a

Ogemaw

0

0

6

0

0

6

2,711

-40.00

 n/a

Ontonagon

0

0

2

0

0

2

2,814

 n/a

 n/a

Osceola

0

0

14

0

2

16

842

0.00

1500.00

Oscoda

0

0

5

0

0

5

1,821

66.67

 n/a

Otsego

0

0

9

0

0

9

1,642

-40.00

350.00

Ottawa

0

0

123

0

94

217

463

-16.54

133.33

Presque Isle

0

0

1

0

0

1

10,621

-83.33

 n/a

Roscommon

0

0

20

0

0

20

1250

0.00

566.67

Saginaw

0

0

72

0

49

121

734

-40.98

-45.50

Saint Clair

0

0

132

0

74

206

356

-21.97

6.74

Saint Joseph

0

0

31

0

22

53

520

-14.52

103.85

Sanilac

0

0

30

0

0

30

737

15.38

50.00

Schoolcraft

0

0

0

0

0

0

 n/a

-100.00

 n/a

Shiawassee

0

0

48

0

21

69

441

-50.00

76.92

Tuscola

0

0

41

0

3

44

550

76.00

780.00

Van Buren

0

0

48

0

38

86

427

28.36

86.96

Washtenaw

0

0

140

0

85

225

653

-33.82

-44.85

Wayne

0

0

2,324

0

525

2,849

295

-5.13

-35.21

Wexford

0

0

19

0

0

19

861

11.76

850.00

 

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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