MISSOURI FORECLOSURE ACTIVITY UP 33 PERCENT IN 2008

More than 31,200 Properties Receive Foreclosure Filings in 2008

 

IRVINE, Calif. – Jan. 28, 2009 – Foreclosure filings were reported on 31,254 Missouri properties in 2008, an increase of 33 percent from 2007 and an increase of 139 percent from 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The report also shows that 1.19 percent of all Missouri housing units received at least one foreclosure filing during the year, up from 0.91 percent in 2007.

 

Missouri reported 3,275 properties with foreclosure filings in December, a 14 percent increase from the previous month and a 3 percent increase over December 2007.

 

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.

 

Missouri saw a substantial increase in foreclosure activity in 2008 as the Show-Me State’s jobless rate rose,” said James J. Saccacio, chief executive officer of RealtyTrac. Missouri’s unemployment rate hit its highest mark in 25 years, rising to 7.3 percent in December. Rising unemployment could trigger more foreclosure activity in the months ahead.”

 

Saint Louis County reports highest total of foreclosure filings

Saint Louis County led the state reporting 8,748 properties with foreclosure filings for the year. Jackson County came in second, reporting 7,101 properties with foreclosure filings. Saint Louis City County registered the third highest total, reporting 4,219 properties with foreclosure filings. Saint Charles County documented the fourth highest foreclosure total, reporting 2,053 properties with foreclosure filings. Clay County came in fifth, documenting 1,712 properties with foreclosure filings.

 

Saint Louis City County posts top foreclosure rate

Saint Louis City County topped the list, with 2.36 percent of its housing units receiving at least one foreclosure filing during the year. Jackson County came in second, with 2.28 percent of its housing units receiving at least one foreclosure filing. Clay County posted the third highest foreclosure rate, where 2.04 percent of the housing stock received at least one foreclosure filing in 2008. Rounding out the state’s top five were Saint Louis County (2.01 percent) and Cass County (1.98 percent).

 

State a minor contributor to nation’s foreclosure total for 2008

Missouri accounted for 1 percent of the 2,330,483 properties with foreclosure filings reported nationwide in 2008. The national total represented an increase of more than 81 percent from the total reported for 2007. For the year 1.84 percent of all U.S. housing units received at least one foreclosure filing, up from 1.03 percent in 2007.

 

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.

 

                  Missouri Foreclosure Market Data by County – Yearend 2008

 

Rate Rank

County

Total Properties With Foreclosure Filings

% Housing Units

(Foreclosure Rate)

% Change From 2007

 

 

 

 

 

n/a

United States

2,330,483

1.84

81.24

n/a

Missouri

21,254

1.19

33.04

 

 

 

 

 

87

Adair

3

0.03

200.00

100

Andrew

1

0.01

0.00

105

Atchison

0

0.00

 n/a

59

Audrain

7

0.06

250.00

71

Barry

8

0.05

100.00

38

Barton

6

0.11

0.00

26

Bates

12

0.16

-14.29

67

Benton

7

0.05

600.00

46

Bollinger

5

0.09

400.00

19

Boone

316

0.47

378.79

7

Buchanan

592

1.57

84.42

15

Butler

118

0.61

87.30

39

Caldwell

5

0.11

400.00

72

Callaway

8

0.05

33.33

77

Camden

15

0.04

275.00

33

Cape Girardeau

38

0.12

322.22

49

Carroll

4

0.08

33.33

105

Carter

0

0.00

 n/a

5

Cass

750

1.98

211.20

66

Cedar

4

0.06

100.00

88

Chariton

1

0.02

0.00

11

Christian

269

0.95

1,245.00

86

Clark

1

0.03

 n/a

3

Clay

1,712

2.04

27.29

31

Clinton

11

0.12

83.33

60

Cole

20

0.06

233.33

101

Cooper

1

0.01

0.00

50

Crawford

9

0.08

800.00

30

Dade

5

0.13

 n/a

32

Dallas

9

0.12

80.00

51

Daviess

3

0.08

50.00

52

DeKalb

3

0.07

200.00

53

Dent

5

0.07

 n/a

98

Douglas

1

0.02

 n/a

68

Dunklin

8

0.05

166.67

13

Franklin

346

0.82

-16.43

61

Gasconade

5

0.06

400.00

27

Gentry

5

0.15

 n/a

9

Greene

1,573

1.33

47.98

94

Grundy

1

0.02

 n/a

105

Harrison

0

0.00

-100.00

43

Henry

10

0.09

400.00

99

Hickory

1

0.02

 n/a

42

Holt

3

0.10

 n/a

56

Howard

3

0.07

0.00

16

Howell

100

0.58

244.83

92

Iron

1

0.02

0.00

2

Jackson

7,101

2.28

2.90

10

Jasper

600

1.23

23.97

6

Jefferson

1,467

1.73

33.73

45

Johnson

18

0.09

260.00

78

Knox

1

0.04

 n/a

44

Laclede

14

0.09

366.67

29

Lafayette

19

0.13

171.43

40

Lawrence

16

0.10

100.00

105

Lewis

0

0.00

-100.00

35

Lincoln

19

0.11

46.15

63

Linn

4

0.06

 n/a

85

Livingston

2

0.03

 n/a

102

Macon

1

0.01

0.00

95

Madison

1

0.02

-50.00

24

Maries

8

0.19

 n/a

84

Marion

4

0.03

33.33

23

McDonald

21

0.22

425.00

74

Mercer

1

0.05

0.00

57

Miller

8

0.07

100.00

96

Mississippi

1

0.02

-50.00

55

Moniteau

4

0.07

33.33

91

Monroe

1

0.02

0.00

58

Montgomery

4

0.07

100.00

22

Morgan

33

0.23

3,200.00

89

New Madrid

2

0.02

0.00

62

Newton

14

0.06

366.67

76

Nodaway

4

0.04

300.00

93

Oregon

1

0.02

 n/a

97

Osage

1

0.02

 n/a

79

Ozark

2

0.04

 n/a

105

Pemiscot

0

0.00

-100.00

20

Perry

32

0.39

23.08

54

Pettis

12

0.07

500.00

70

Phelps

9

0.05

80.00

103

Pike

1

0.01

-66.67

12

Platte

317

0.89

53.88

17

Polk

61

0.51

335.71

18

Pulaski

79

0.48

1,216.67

83

Putnam

1

0.03

 n/a

75

Ralls

2

0.04

 n/a

48

Randolph

9

0.08

200.00

25

Ray

18

0.18

200.00

69

Reynolds

2

0.05

 n/a

105

Ripley

0

0.00

 n/a

8

Saint Charles

2,053

1.56

40.14

80

Saint Clair

2

0.04

 n/a

37

Saint Francois

28

0.11

115.38

4

Saint Louis

8,748

2.01

64.07

1

Saint Louis City

4,219

2.36

1.59

82

Sainte Genevieve

3

0.04

50.00

47

Saline

9

0.09

12.50

73

Schuyler

1

0.05

 n/a

105

Scotland

0

0.00

-100.00

28

Scott

24

0.14

166.67

105

Shannon

0

0.00

 n/a

105

Shelby

0

0.00

 n/a

65

Stoddard

8

0.06

166.67

36

Stone

19

0.11

850.00

105

Sullivan

0

0.00

-100.00

14

Taney

154

0.66

5,033.33

104

Texas

1

0.01

 n/a

90

Vernon

2

0.02

0.00

34

Warren

15

0.11

200.00

64

Washington

6

0.06

100.00

41

Wayne

8

0.10

 n/a

21

Webster

31

0.24

82.35

105

Worth

0

0.00

 n/a

81

Wright

3

0.04

200.00

 

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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