MINNESOTA FORECLOSURE ACTIVITY UP 2 PERCENT IN DECEMBER

Yearly Total Up 72 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – Minnesota reported 1,232 foreclosure filings in December, a 2 percent increase from the previous month, and a 72 percent increase from December 2006, 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 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.

 

Minnesota foreclosures have increased both in December and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s home sales have decreased nearly double the rate of the national average during the past year and its home price appreciation is now below the national average. The factors are likely contributing to the overall rise.”

 

Minnesota ranked 25th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 1,828 households ranked it 32nd among the 50 states.

 

Hennepin County leads state in foreclosure activity

Hennepin County led the state in total foreclosure activity for December, reporting 569 foreclosure filings. Dakota County tallied the second highest foreclosure total, reporting 244 foreclosure filings for the month, followed by Wright County, which registered 103 foreclosure filings.

 

Wright County post highest foreclosure rate

Wright County reported the highest foreclosure rate in the state for December, one foreclosure filing for every 434 households — 4.2 times the state average and 1.3 times the national average. Dakota County came in second with a rate of one foreclosure filing for every 620 households — three times the state average. Scott County posted the third highest foreclosure rate, one filing for every 665 households — 2.8 times the state average.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Minnesota accounted for 1 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 577 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.

 

 

Minnesota Foreclosure Market by County – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Minnesota

18

923

0

0

291

1,232

1,828

0.32

n/a

 

 

 

 

 

 

 

 

 

 

Aitkin

0

0

0

0

0

0

n/a

0.00

0.00

Anoka

1

4

0

0

2

7

17,312

0.03

0.11

Becker

0

1

0

0

0

1

17,969

0.03

0.10

Beltrami

0

1

0

0

0

1

18,237

0.03

0.10

Benton

0

0

0

0

0

0

n/a

0.00

0.00

Big Stone

0

0

0

0

0

0

n/a

0.00

0.00

Blue Earth

0

2

0

0

0

2

12,290

0.05

0.15

Brown

0

0

0

0

0

0

n/a

0.00

0.00

Carlton

0

0

0

0

0

0

n/a

0.00

0.00

Carver

4

2

0

0

23

29

1,093

0.53

1.67

Cass

0

0

0

0

0

0

n/a

0.00

0.00

Chippewa

0

1

0

0

1

2

2,988

0.19

0.61

Chisago

0

0

0

0

1

1

18,692

0.03

0.10

Clay

0

8

0

0

8

16

1,368

0.42

1.34

Clearwater

0

0

0

0

0

0

n/a

0.00

0.00

Cook

0

0

0

0

0

0

n/a

0.00

0.00

Cottonwood

0

0

0

0

0

0

n/a

0.00

0.00

Crow Wing

0

0

0

0

2

2

19,101

0.03

0.10

Dakota

5

183

0

0

56

244

620

0.93

2.95

Dodge

0

0

0

0

0

0

n/a

0.00

0.00

Douglas

1

0

0

0

0

1

19,249

0.03

0.09

Faribault

0

2

0

0

1

3

2,428

0.24

0.75

Fillmore

0

0

0

0

0

0

n/a

0.00

0.00

Freeborn

0

0

0

0

0

0

n/a

0.00

0.00

Goodhue

0

0

0

0

10

10

1,956

0.30

0.93

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Hennepin

1

555

0

0

13

569

865

0.67

2.11

Houston

0

0

0

0

0

0

n/a

0.00

0.00

Hubbard

0

0

0

0

3

3

4,304

0.13

0.42

Isanti

0

1

0

0

0

1

14,871

0.04

0.12

Itasca

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

Kanabec

0

0

0

0

0

0

n/a

0.00

0.00

Kandiyohi

0

1

0

0

5

6

3,254

0.18

0.56

Kittson

0

0

0

0

0

0

n/a

0.00

0.00

Koochiching

0

1

0

0

1

2

3,997

0.14

0.46

Lac Qui Parle

0

0

0

0

0

0

n/a

0.00

0.00

Lake

0

0

0

0

1

1

7,335

0.08

0.25

Lake of the Woods

0

0

0

0

0

0

n/a

0.00

0.00

Le Sueur

0

0

0

0

0

0

n/a

0.00

0.00

Lincoln

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

Mahnomen

0

0

0

0

0

0

n/a

0.00

0.00

Marshall

0

0

0

0

0

0

n/a

0.00

0.00

Martin

0

0

0

0

2

2

4,998

0.12

0.37

McLeod

0

0

0

0

0

0

n/a

0.00

0.00

Meeker

0

0

0

0

0

0

n/a

0.00

0.00

Mille Lacs

0

1

0

0

0

1

11,826

0.05

0.15

Morrison

0

1

0

0

0

1

15,467

0.04

0.12

Mower

0

0

0

0

0

0

n/a

0.00

0.00

Murray

0

0

0

0

0

0

n/a

0.00

0.00

Nicollet

0

0

0

0

0

0

n/a

0.00

0.00

Nobles

0

0

0

0

0

0

n/a

0.00

0.00

Norman

0

0

0

0

0

0

n/a

0.00

0.00

Olmstead

0

1

0

0

0

1

57,307

0.01

0.03

Otter Tail

0

6

0

0

9

15

2,357

0.24

0.78

Pennington

0

0

0

0

0

0

n/a

0.00

0.00

Pine

0

0

0

0

0

0

n/a

0.00

0.00

Pipestone

0

0

0

0

0

0

n/a

0.00

0.00

Polk

0

0

0

0

0

0

n/a

0.00

0.00

Pope

0

0

0

0

4

4

1,578

0.37

1.16

Ramsey

0

43

0

0

36

79

2,698

0.21

0.68

Red Lake

0

0

0

0

0

0

n/a

0.00

0.00

Redwood

0

0

0

0

0

0

n/a

0.00

0.00

Renville

0

0

0

0

0

0

n/a

0.00

0.00

Rice

0

0

0

0

24

24

947

0.61

1.93

Rock

0

0

0

0

0

0

n/a

0.00

0.00

Roseau

0

1

0

0

0

1

7,464

0.08

0.24

Saint Louis

1

17

0

0

3

21

4,703

0.12

0.39

Scott

1

2

0

0

61

64

665

0.87

2.75

Sherburne

0

2

0

0

2

4

7,474

0.08

0.24

Sibley

0

0

0

0

0

0

n/a

0.00

0.00

Stearns

0

1

0

0

1

2

28,827

0.02

0.06

Steele

0

1

0

0

1

2

7,256

0.08

0.25

Stevens

0

0

0

0

0

0

n/a

0.00

0.00

Swift

0

0

0

0

0

0

n/a

0.00

0.00

Todd

0

0

0

0

0

0

n/a

0.00

0.00

Traverse

0

0

0

0

0

0

n/a

0.00

0.00

Wabasha

0

0

0

0

0

0

n/a

0.00

0.00

Wadena

0

0

0

0

0

0

n/a

0.00

0.00

Waseca

0

1

0

0

0

1

7,779

0.07

0.23

Washington

1

3

0

0

2

6

14,092

0.04

0.13

Watonwan

0

0

0

0

0

0

n/a

0.00

0.00

Wilkin

0

0

0

0

0

0

n/a

0.00

0.00

Winona

0

0

0

0

0

0

n/a

0.00

0.00

Wright

3

81

0

0

19

103

434

1.33

4.21

Yellow Medicine

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