MINNESOTA FORECLOSURE ACTIVITY UP 4 PERCENT IN SEPTEMBER

Yearly Total Up 183 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Minnesota reported 1,510 foreclosure filings in September, a 4 percent increase from the previous month, and a 183 percent increase from September 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 nearly tripled since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate has risen nearly one percent during the past year. This is likely contributing to the overall rise.”

 

Minnesota ranked 22nd in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 1,491 households ranked it 26th among the 50 states.

 

Hennepin County reports biggest foreclosure total

Hennepin County reported 806 foreclosure filings for September, the most of any county for the month. Dakota County documented the second highest foreclosure total, reporting 241 foreclosure filings for the month. Wright County reported the third highest foreclosure total, with 222 foreclosure filings.

 

Wright County posts highest foreclosure rate

Wright County reported the highest county foreclosure rate in the state for September, with one foreclosure filing for every 201 households — 7.4 times the state average and 2.8 times the national average. Hennepin County posted the second highest foreclosure rate, with one foreclosure filing for every 611 households — 2.4 times the state average. Dakota County posted the third highest foreclosure rate, with one foreclosure filing for every 628 households — 2.4 times the state average.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Minnesota accounted for 1 percent of the 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 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 – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Minnesota

41

1,226

0

0

243

1,510

1,491

0.37

n/a

 

 

 

 

 

 

 

 

 

 

Aitkin

0

0

0

0

0

0

n/a 

0.00

0.00

Anoka

1

10

0

0

5

16

7,574

0.07

0.19

Becker

0

0

0

0

0

0

n/a 

0.00

0.00

Beltrami

0

0

0

0

0

0

n/a 

0.00

0.00

Benton

0

1

0

0

2

3

5,235

0.11

0.28

Big Stone

0

0

0

0

0

0

n/a 

0.00

0.00

Blue Earth

0

1

0

0

0

1

24,580

0.02

0.06

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

15

1

0

0

10

26

1,219

0.46

1.22

Cass

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

Chisago

0

0

0

0

0

0

n/a 

0.00

0.00

Clay

0

4

0

0

0

4

5,473

0.10

0.27

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

2

0

0

0

2

2,713

0.21

0.55

Crow Wing

0

0

0

0

0

0

n/a 

0.00

0.00

Dakota

16

158

0

0

67

241

628

0.89

2.37

Dodge

0

0

0

0

0

0

n/a 

0.00

0.00

Douglas

0

0

0

0

1

1

19,249

0.03

0.07

Faribault

0

3

0

0

4

7

1,041

0.54

1.43

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

1

1

19,564

0.03

0.07

Grant

0

0

0

0

0

0

n/a 

0.00

0.00

Hennepin

0

791

0

0

15

806

611

0.91

2.44

Houston

0

0

0

0

0

0

n/a 

0.00

0.00

Hubbard

0

0

0

0

9

9

1,435

0.39

1.04

Isanti

0

0

0

0

1

1

14,871

0.04

0.10

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

0.17

0.45

Kittson

0

0

0

0

0

0

n/a 

0.00

0.00

Koochiching

0

0

0

0

4

4

1,998

0.28

0.74

Lac Qui Parle

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

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

1

1

3,107

0.18

0.48

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

3

3

3,332

0.17

0.44

McLeod

0

0

0

0

0

0

n/a 

0.00

0.00

Meeker

0

1

0

0

1

2

5,307

0.10

0.28

Mille Lacs

0

1

0

0

0

1

11,826

0.05

0.12

Morrison

0

0

0

0

1

1

15,467

0.04

0.09

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

Olmsted

0

0

0

0

0

0

n/a 

0.00

0.00

Otter Tail

0

1

0

0

1

2

17,679

0.03

0.08

Pennington

0

0

0

0

0

0

n/a 

0.00

0.00

Pine

0

1

0

0

0

1

16,403

0.03

0.09

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

1

1

0

0

2

4

1,578

0.35

0.94

Ramsey

2

20

0

0

25

47

4,535

0.12

0.32

Red Lake

0

0

0

0

0

0

n/a 

0.00

0.00

Redwood

0

0

0

0

1

1

7,316

0.08

0.20

Renville

0

0

0

0

0

0

n/a 

0.00

0.00

Rice

0

3

0

0

1

4

5,680

0.10

0.26

Rock

0

0

0

0

0

0

n/a 

0.00

0.00

Roseau

0

0

0

0

0

0

n/a 

0.00

0.00

Saint Louis

2

45

0

0

11

58

1,703

0.33

0.87

Scott

2

4

0

0

21

27

1,577

0.35

0.94

Sherburne

0

2

0

0

0

2

14,948

0.04

0.10

Sibley

0

0

0

0

0

0

n/a 

0.00

0.00

Stearns

0

1

0

0

0

1

57,654

0.01

0.02

Steele

0

0

0

0

0

0

n/a 

0.00

0.00

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

0

0

0

0

0

n/a 

0.00

0.00

Washington

0

2

0

0

3

5

16,911

0.03

0.08

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

2

172

0

0

48

222

201

2.77

7.41

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

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