MINNESOTA FORECLOSURE ACTIVITY INCREASES 8 PERCENT IN FIRST QUARTER

State Foreclosure Activity Up 70 Percent From Q1 2008

Monthly Activity Up 20 percent in March, Surges 133 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 7,173 Minnesota properties in the first quarter of 2009, an 8 percent increase from the previous quarter, and 70 percent ahead of the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The North Star State reported 3,077 properties with foreclosure filings in March, a 20 percent increase from the previous month and 133 percent above its March 2008 total.

 

Minnesota foreclosures are on the rise both in the first quarter and from this time last year,” said James J. Saccacio chief executive officer of RealtyTrac. “Statistics show that the state lost more than 100,000 jobs during the past year — 23,000 between February and March alone. This is undoubtedly contributing to the higher foreclosure activity we are now seeing.”

 

Minnesota documented the 23rd highest raw number of properties receiving foreclosure filings in the first quarter, its foreclosure rate — one in every 321 housing units received a foreclosure filing during the quarter — came in 25th among the 50 states.

 

Five counties largest contributors to state total for the quarter

Five Minnesota counties accounted for 77 percent of the state’s overall foreclosure activity during the first quarter. Hennepin County came in first place, reporting 2,760 properties with foreclosure filings. Ramsey County was second, reporting 1,072 properties with foreclosure filings for the quarter. Anoka County was behind in third, reporting 757 properties with foreclosure filings. Dakota County registered the fourth highest total, documenting 543 properties with foreclosure filings. Washington County posted the fifth highest total, where 377 properties with foreclosure filings were reported.

 

Sherburne County scores highest rates in the state for first quarter

Sherburne County led the state, with one in every 101 housing units receiving a foreclosure filing — 3.2 times the state average and 1.6 times the national average. Wright County came in second, with one in every 147 housing units receiving a foreclosure filing — 2.2 times the state average. Anoka County registered the third highest rate, where one in every 165 housing units received a foreclosure filing during the month — twice the state average.

 

State the contributes 1 percent to nation’s foreclosure total for Q1 2009

Minnesota accounted for 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.

 

                          Minnesota Foreclosure Market Data by County – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%? from Q4 08

%? from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16%

23.63%

Minnesota

8

0

3,750

0

3,415

7,173

321

7.83%

69.53%

 

 

 

 

 

 

 

 

 

 

Aitkin

0

0

1

0

0

1

16,263

-80.00%

Anoka

0

0

426

0

331

757

165

1.61%

2510.34%

Becker

0

0

1

0

4

5

3,687

66.67%

150.00%

Beltrami

2

0

0

0

15

17

1,088

-15.00%

Benton

0

0

6

0

11

17

966

466.67%

1600.00%

Big Stone

0

0

0

0

0

0

-100.00%

Blue Earth

0

0

1

0

0

1

25,411

-91.67%

-75.00%

Brown

0

0

0

0

1

1

11,673

-75.00%

0.00%

Carlton

0

0

3

0

0

3

5,171

-66.67%

200.00%

Carver

0

0

93

0

10

103

324

30.38%

43.06%

Cass

0

0

1

0

0

1

25,539

-83.33%

0.00%

Chippewa

0

0

2

0

4

6

998

50.00%

-57.14%

Chisago

0

0

17

0

80

97

198

106.38%

1840.00%

Clay

2

0

0

0

15

17

1,359

0.00%

-34.62%

Clearwater

0

0

0

0

0

0

-100.00%

Cook

0

0

1

0

1

2

2,758

100.00%

Cottonwood

0

0

0

0

0

0

-100.00%

Crow Wing

0

0

2

0

3

5

7,957

-75.00%

150.00%

Dakota

0

0

215

0

328

543

285

31.48%

-34.97%

Dodge

0

0

1

0

0

1

7,824

-50.00%

0.00%

Douglas

0

0

2

0

1

3

6,648

-40.00%

200.00%

Faribault

0

0

2

0

8

10

730

-37.50%

100.00%

Fillmore

0

0

2

0

0

2

4,856

-50.00%

Freeborn

0

0

4

0

0

4

3,537

100.00%

33.33%

Goodhue

0

0

5

0

55

60

334

20.00%

57.89%

Grant

0

0

0

0

0

0

-100.00%

Hennepin

0

0

1,489

0

1,271

2,760

181

-17.69%

63.22%

Houston

0

0

0

0

1

1

8,651

0.00%

Hubbard

1

0

2

0

13

16

814

14.29%

128.57%

Isanti

0

0

9

0

6

15

1,048

-25.00%

Itasca

0

0

0

0

0

0

-100.00%

Jackson

0

0

1

0

0

1

5,188

-50.00%

-50.00%

Kanabec

0

0

5

0

0

5

1,524

66.67%

400.00%

Kandiyohi

1

0

0

0

14

15

1,322

-53.13%

-28.57%

Kittson

0

0

0

0

0

0

Koochiching

0

0

0

0

4

4

2,027

-60.00%

-20.00%

Lac Qui Parle

0

0

0

0

0

0

-100.00%

Lake

0

0

3

0

2

5

1,499

0.00%

150.00%

Lake Of The Woods

0

0

1

0

0

1

3,504

Le Sueur

0

0

3

0

2

5

2,491

66.67%

Lincoln

0

0

0

0

1

1

3,146

-80.00%

0.00%

Lyon

1

0

1

0

0

2

5,499

-75.00%

100.00%

Mahnomen

0

0

1

0

0

1

2,804

0.00%

Marshall

0

0

0

0

0

0

-100.00%

Martin

1

0

1

0

8

10

1,005

25.00%

11.11%

McLeod

0

0

2

0

1

3

5,229

-25.00%

0.00%

Meeker

0

0

4

0

1

5

2,161

0.00%

66.67%

Mille Lacs

0

0

5

0

25

30

406

114.29%

2900.00%

Morrison

0

0

5

0

2

7

2,284

0.00%

Mower

0

0

4

0

2

6

2,840

50.00%

200.00%

Murray

0

0

0

0

0

0

-100.00%

Nicollet

0

0

1

0

0

1

12,712

-66.67%

Nobles

0

0

0

0

0

0

Norman

0

0

0

0

0

0

-100.00%

Olmsted

0

0

42

0

4

46

1,285

109.09%

2200.00%

Otter Tail

0

0

1

0

11

12

2,962

-45.45%

-72.73%

Pennington

0

0

0

0

0

0

Pine

0

0

3

0

1

4

4,154

-66.67%

300.00%

Pipestone

0

0

0

0

0

0

-100.00%

Polk

0

0

1

0

0

1

14,635

0.00%

Pope

0

0

4

0

6

10

643

233.33%

150.00%

Ramsey

0

0

588

0

484

1,072

200

70.97%

58.58%

Red Lake

0

0

0

0

0

0

Redwood

0

0

0

0

0

0

-100.00%

Renville

0

0

1

0

1

2

3,740

Rice

0

0

4

0

62

66

359

-15.38%

29.41%

Rock

0

0

0

0

0

0

-100.00%

Roseau

0

0

0

0

0

0

-100.00%

Saint Louis

0

0

1

0

83

84

1,189

-31.71%

-52.54%

Scott

0

0

225

0

5

230

197

-13.86%

53.33%

Sherburne

0

0

28

0

284

312

101

345.71%

1980.00%

Sibley

0

0

2

0

1

3

2,153

-40.00%

200.00%

Stearns

0

0

55

0

9

64

930

178.26%

966.67%

Steele

0

0

3

0

1

4

3,741

-42.86%

100.00%

Stevens

0

0

0

0

0

0

-100.00%

Swift

0

0

0

0

0

0

Todd

0

0

1

0

0

1

12,881

-85.71%

0.00%

Traverse

0

0

0

0

0

0

Wabasha

0

0

0

0

2

2

5,116

-33.33%

Wadena

0

0

2

0

1

3

2,264

0.00%

200.00%

Waseca

0

0

1

0

0

1

7,893

0.00%

0.00%

Washington

0

0

343

0

34

377

235

338.37%

1785.00%

Watonwan

0

0

0

0

0

0

-100.00%

Wilkin

0

0

0

0

0

0

-100.00%

Winona

0

0

1

0

1

2

10,481

0.00%

Wright

0

0

122

0

203

325

147

9.43%

14.44%

Yellow Medicine

0

0

0

0

2

2

2,485

100.00%

                

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

 

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