MICHIGAN FORECLOSURE ACTIVITY DOWN 14 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Activity Up 60 Percent From November 2006; Foreclosure Rate Ranked No. 6

 

IRVINE, Calif. – Dec. 19, 2007 – Michigan reported 11,464 foreclosure filings in November, the fifth highest foreclosure total in the nation. Total foreclosure activity in the state declined nearly 15 percent from the previous month, but was still nearly 60 percent above the activity level reported for November 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 391 households was 1.6 times the national average and ranked sixth highest among the 50 states.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 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.

 

“This is the second straight month that foreclosure activity has declined in Michigan, but the monthly total is still well ahead of this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Through the first three quarters of 2007 both home sales and home prices are down around 6 percent in Michigan, while unemployment is significantly above the national average. These factors are helping maintain the high levels of foreclosure activity in the state, which has posted the fourth highest foreclosure filing total in five out of the 10 months so far this year.

 

Although ranked fifth in the country for November, foreclosure activity in Michigan lagged far behind national leader California by more than 28,000 foreclosure filings. Second ranked Florida totaled nearly 17,700 more foreclosure filings than Michigan, while third place Ohio tallied almost 5,000 more filings for the month. Fourth place Texas had 135 more foreclosure filings than Michigan. The remaining states in the nation’s top 10 for total foreclosure filings in November were Georgia, Illinois, Nevada and New York.

 

Wayne County leads state in foreclosure filings

Wayne County reported the highest county total, with 6,074 foreclosure filings for November. Oakland County posted the state’s second highest county foreclosure total, with 1,164 foreclosure filings. Macomb County registered the third highest foreclosure total, with 975 foreclosure filings. Genesee County registered the fourth highest foreclosure total, with 535 foreclosure filings. Total foreclosure filings in the top four counties accounted for 76 percent of all filings entering some stage of the foreclosure pipeline in the state for the month.

 

Wayne County reports highest foreclosure rate in state

Wayne County led the state with the highest foreclosure rate for November, one foreclosure filing for every 138 households — 2.8 times the state average and 4.5 times the national average. Macomb County tallied the second highest foreclosure rate, one foreclosure filing for every 355 households — 1.7 times the national average. Genesee County posted the third highest foreclosure rate, one foreclosure filing for every 366 households.

 

State minor contributor to national total

Total foreclosure filings in Michigan accounted for nearly 6 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represented a 10 percent decrease from the previous month, but was still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

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

 

 

                      Michigan Foreclosure Market by County – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Michigan

1,794

5,311

0

0

4,359

11,464

391

1.58

n/a

 

 

 

 

 

 

 

 

 

Alcona

0

1

0

0

0

1

11,103

0.05

0.03

Alger

0

0

0

0

0

0

n/a 

0.00

0.00

Allegan

0

3

0

0

38

41

1,155

0.53

0.33

Alpena

0

0

0

0

0

0

n/a 

0.00

0.00

Antrim

0

0

0

0

0

0

n/a 

0.00

0.00

Arenac

0

0

0

0

0

0

n/a 

0.00

0.00

Baraga

0

0

0

0

0

0

n/a 

0.00

0.00

Barry

0

0

0

0

2

2

12,801

0.04

0.03

Bay

0

2

0

0

29

31

1,545

0.39

0.25

Benzie

0

0

0

0

0

0

n/a 

0.00

0.00

Berrien

0

1

0

0

53

54

1,407

0.43

0.27

Branch

0

2

0

0

0

2

10,315

0.05

0.03

Calhoun

0

58

0

0

67

125

483

1.27

0.80

Cass

0

1

0

0

0

1

25,242

0.02

0.01

Charlevoix

0

0

0

0

0

0

n/a 

0.00

0.00

Cheboygan

0

0

0

0

0

0

n/a 

0.00

0.00

Chippewa

0

0

0

0

0

0

n/a 

0.00

0.00

Clare

0

3

0

0

1

4

5,750

0.10

0.06

Clinton

1

20

0

0

25

46

628

0.98

0.62

Crawford

0

1

0

0

0

1

10,558

0.05

0.03

Delta

0

1

0

0

0

1

20,045

0.03

0.01

Dickinson

0

1

0

0

1

2

7,019

0.08

0.05

Eaton

0

18

0

0

57

75

601

1.02

0.64

Emmet

0

1

0

0

1

2

10,215

0.06

0.03

Genesee

6

395

0

0

134

535

366

1.68

1.06

Gladwin

0

0

0

0

0

0

n/a 

0.00

0.00

Gogebic

0

1

0

0

0

1

11,025

0.05

0.03

Grand Traverse

0

1

0

0

1

2

19,471

0.03

0.02

Gratiot

0

4

0

0

0

4

3,975

0.15

0.09

Hillsdale

0

3

0

0

0

3

7,187

0.08

0.05

Houghton

0

0

0

0

0

0

n/a 

0.00

0.00

Huron

0

3

0

0

0

3

7,072

0.08

0.05

Ingham

1

248

0

0

34

283

424

1.45

0.92

Ionia

0

4

0

0

1

5

4,730

0.13

0.08

Iosco

0

0

0

0

1

1

21,102

0.02

0.01

Iron

0

0

0

0

0

0

n/a 

0.00

0.00

Isabella

0

0

0

0

0

0

n/a 

0.00

0.00

Jackson

8

7

0

0

5

20

3,344

0.18

0.11

Kalamazoo

0

100

0

0

99

199

533

1.15

0.73

Kalkaska

0

0

0

0

0

0

n/a 

0.00

0.00

Kent

2

329

0

0

182

513

467

1.32

0.83

Keweenaw

0

0

0

0

0

0

n/a 

0.00

0.00

Lake

0

0

0

0

0

0

n/a 

0.00

0.00

Lapeer

0

3

0

0

84

87

405

1.52

0.96

Leelanau

0

1

0

0

0

1

14,594

0.04

0.02

Lenawee

0

4

0

0

1

5

8,453

0.07

0.04

Livingston

0

119

0

0

39

158

446

1.38

0.87

Luce

0

0

0

0

0

0

n/a 

0.00

0.00

Mackinac

0

1

0

0

0

1

10,135

0.06

0.03

Macomb

181

503

0

0

291

975

355

1.73

1.09

Manistee

0

0

0

0

1

1

14,860

0.04

0.02

Marquette

1

2

0

0

0

3

11,360

0.05

0.03

Mason

0

0

0

0

1

1

16,844

0.03

0.02

Mecosta

0

1

0

0

1

2

10,526

0.05

0.03

Menominee

0

0

0

0

0

0

n/a 

0.00

0.00

Midland

0

3

0

0

0

3

11,704

0.05

0.03

Missaukee

0

0

0

0

0

0

n/a 

0.00

0.00

Monroe

0

13

0

0

44

57

1,091

0.56

0.35

Montcalm

0

3

0

0

0

3

9,095

0.06

0.04

Montmorency

0

0

0

0

1

1

9,683

0.06

0.04

Muskegon

0

22

0

0

110

132

550

1.12

0.71

Newaygo

0

1

0

0

0

1

24,603

0.02

0.01

Oakland

239

566

0

0

359

1,164

446

1.38

0.87

Oceana

0

2

0

0

0

2

7,858

0.07

0.05

Ogemaw

0

0

0

0

0

0

n/a 

0.00

0.00

Ontonagon

0

0

0

0

0

0

n/a 

0.00

0.00

Osceola

0

0

0

0

1

1

13,423

0.04

0.02

Oscoda

0

0

0

0

0

0

n/a 

0.00

0.00

Otsego

0

2

0

0

0

2

7,332

0.08

0.05

Ottawa

0

67

0

0

97

164

595

1.03

0.65

Presque Isle

0

1

0

0

0

1

10,527

0.05

0.03

Roscommon

0

0

0

0

2

2

12,407

0.04

0.03

Saginaw

2

131

0

0

58

191

463

1.33

0.84

Saint Clair

1

103

0

0

43

147

496

1.24

0.78

Saint Joseph

0

0

0

0

2

2

13,709

0.04

0.02

Sanilac

0

2

0

0

16

18

1,226

0.50

0.31

Schoolcraft

0

0

0

0

0

0

n/a 

0.00

0.00

Shiawassee

0

5

0

0

24

29

1,043

0.59

0.37

Tuscola

0

4

0

0

1

5

4,820

0.12

0.08

Van Buren

0

3

0

0

2

5

7,245

0.08

0.05

Washtenaw

10

168

0

0

91

269

538

1.14

0.72

Wayne

1,342

2,373

0

0

2,359

6,074

138

4.46

2.82

Wexford

0

0

0

0

0

0

n/a 

0.00

0.00

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved