MONTANA FORECLOSURE ACTIVITY DECREASES 45 PERCENT IN FIRST QUARTER

State Foreclosure Activity Down 64 Percent From Q1 2008

Monthly Activity Up 15 percent in March, Down 60 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 153 Montana properties in the first quarter of 2009, a 45 percent decrease from the previous quarter, and 64 percent below the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Montana reported 62 properties with foreclosure filings in March, a 15 percent increase from the previous month, but 60 percent below its March 2008 total.

 

“Foreclosure activity decreased significantly in Montana in the first quarter of 2009, as the state’s unemployment rate grew only slightly and remained well below the national average,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Montana ranked 47th in the country in total properties with foreclosure filings for the quarter. One in every 2,847 Montana housing units received a foreclosure filing during the month, the 47th highest state foreclosure rate in the nation.

 

Flathead County the single largest contributor to state total for the quarter

Flathead County led the state reporting 35 properties with foreclosure filings. Gallatin County was second, reporting 22 properties with foreclosure filings for the quarter. Cascade, Ravalli and Yellowstone counties were in third, each reporting 17 properties with foreclosure filings.

 

Toole County posts state’s top foreclosure rate in the state for first quarter

Toole County led the state, with one in every 759 housing units receiving a foreclosure filing — 3.8 times the state average. Deer Lodge County came in second, with one in every 843 housing units receiving a foreclosure filing — 3.4 times the state average. Ravalli County registered the third highest foreclosure rate, where one in every 969 housing units received a foreclosure filing during the month — 2.9 times the state average.

 

State a minor contributor to nation’s foreclosure total for Q1 2009

Montana accounted for less than 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.

 

                            Montana Foreclosure Market Data by County – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%Change from Q4 08

%Change from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16

23.63

Montana

0

0

23

0

130

153

2,847

-44.96

-63.66

 

 

 

 

 

 

 

 

 

 

Beaverhead

0

0

0

0

0

0

Big Horn

0

0

0

0

0

0

-100.00%

Blaine

0

0

1

0

0

1

2,932

0.00%

Broadwater

0

0

0

0

0

0

-100.00%

Carbon

0

0

0

0

0

0

-100.00%

-100.00%

Carter

0

0

0

0

0

0

Cascade

0

0

0

0

17

17

2,135

-22.73%

-72.13%

Chouteau

0

0

0

0

0

0

Custer

0

0

1

0

0

1

5,327

-50.00%

-66.67%

Daniels

0

0

0

0

0

0

Dawson

0

0

3

0

0

3

1,378

200.00%

-25.00%

Deer Lodge

0

0

2

0

4

6

843

0.00%

-33.33%

Fallon

0

0

0

0

0

0

Fergus

0

0

3

0

1

4

1,383

-60.00%

Flathead

0

0

1

0

34

35

1,079

-31.37%

-44.44%

Gallatin

0

0

0

0

22

22

1,696

-56.86%

-33.33%

Garfield

0

0

0

0

0

0

Glacier

0

0

0

0

0

0

Golden Valley

0

0

0

0

0

0

-100.00%

Granite

0

0

1

0

0

1

2,067

0.00%

Hill

0

0

0

0

0

0

-100.00%

-100.00%

Jefferson

0

0

0

0

0

0

-100.00%

Judith Basin

0

0

0

0

0

0

Lake

0

0

0

0

2

2

7,054

-60.00%

-84.62%

Lewis And Clark

0

0

0

0

3

3

8,819

-75.00%

-90.91%

Liberty

0

0

0

0

0

0

-100.00%

-100.00%

Lincoln

0

0

0

0

2

2

4,679

-60.00%

-33.33%

Madison

0

0

0

0

0

0

-100.00%

-100.00%

McCone

0

0

0

0

0

0

Meagher

0

0

0

0

0

0

Mineral

0

0

0

0

0

0

-100.00%

-100.00%

Missoula

0

0

0

0

12

12

3,814

-67.57%

-76.00%

Musselshell

0

0

0

0

0

0

Park

0

0

1

0

0

1

8,467

-80.00%

Petroleum

0

0

0

0

0

0

Phillips

0

0

0

0

0

0

-100.00%

Pondera

0

0

0

0

0

0

Powder River

0

0

0

0

0

0

Powell

0

0

1

0

0

1

2,912

-75.00%

0.00%

Prairie

0

0

0

0

0

0

Ravalli

0

0

0

0

17

17

969

-41.38%

-59.52%

Richland

0

0

0

0

0

0

Roosevelt

0

0

0

0

0

0

Rosebud

0

0

0

0

0

0

-100.00%

Sanders

0

0

2

0

0

2

2,650

0.00%

Sheridan

0

0

0

0

0

0

Silver Bow

0

0

0

0

0

0

-100.00%

-100.00%

Stillwater

0

0

2

0

0

2

2,003

-33.33%

-33.33%

Sweet Grass

0

0

0

0

0

0

-100.00%

Teton

0

0

0

0

0

0

-100.00%

Toole

0

0

3

0

0

3

759

200.00%

Treasure

0

0

0

0

0

0

Valley

0

0

1

0

0

1

4,807

-50.00%

Wheatland

0

0

0

0

0

0

Wibaux

0

0

0

0

0

0

Yellowstone

0

0

1

0

16

17

3,455

6.25%

-79.76%

 

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

 

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