MONTANA FORECLOSURE ACTIVITY DOWN 2 PERCENT IN APRIL

Foreclosure Activity Level Down 44 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 61 Montana properties in April, a 2 percent decline from the previous month and 44 percent below the level reported for April 2008, 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 1.5 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.

 

Montana foreclosures are down both in April and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate has remained well below the national average for quite some time now with only a modest increase over the past year. This is definitely helping to keep foreclosures here among the lowest in the country.”

 

Montana ranked 47th in the country in total foreclosures reported for the month. With one in every 7,140 housing units receiving a foreclosure filing, its foreclosure rate ranked 47th among the 50 states.

 

Nine counties account for bulk of state foreclosure activity in April

Flathead County led the way, reporting 22 properties with foreclosure filings for the month. Cascade County and Ravalli County each reported five properties with foreclosure filings, the state’s second highest county total. Lewis & Clark County, Missoula County, and Yellowstone County came in third highest, each reporting four properties with foreclosure filings. Gallatin County came in fourth, documenting three properties with foreclosure filings, while the fifth highest total was in Dawson County and Hill County, each reporting two properties with foreclosure filings.

 

McCone County posts state’s highest foreclosure rate for April

McCone County topped the list, with one in every 1,076 housing units receiving a foreclosure filing — 6.7 times the state average. Flathead County had the second highest foreclosure rate, with one in every 1,716 housing units receiving a foreclosure filing — 4.2 times the state average. Sweet Grass County documented the third highest foreclosure rate, where one in every 1,909 housing units received a foreclosure filing during the month — 3.7 the state average.

 

State contributes less than 1 percent to nation’s foreclosure total in April

Montana accounted for less than 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received a foreclosure filing during the month.

 

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.

 

       Montana Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Montana

0

0

12

0

49

61

7,140

-1.61

-43.52

 

 

 

 

 

 

 

 

 

 

Beaverhead

0

0

0

0

0

0

 n/a

 n/a

 n/a

Big Horn

0

0

0

0

0

0

 n/a

 n/a

 n/a

Blaine

0

0

1

0

0

1

2,932

 n/a

 n/a

Broadwater

0

0

0

0

0

0

 n/a

 n/a

 n/a

Carbon

0

0

0

0

0

0

 n/a

 n/a

 n/a

Carter

0

0

0

0

0

0

 n/a

 n/a

 n/a

Cascade

0

0

0

0

5

5

7,260

-37.50

-77.27

Chouteau

0

0

0

0

0

0

 n/a

 n/a

 n/a

Custer

0

0

0

0

0

0

 n/a

 n/a

-100.00

Daniels

0

0

0

0

0

0

 n/a

 n/a

 n/a

Dawson

0

0

1

0

1

2

2,068

100.00

100.00

Deer Lodge

0

0

1

0

0

1

5,058

-66.67

-75.00

Fallon

0

0

0

0

0

0

 n/a

 n/a

 n/a

Fergus

0

0

0

0

1

1

5,530

-50.00

0.00

Flathead

0

0

0

0

22

22

1,716

83.33

37.50

Gallatin

0

0

0

0

3

3

12,440

-75.00

-25.00

Garfield

0

0

0

0

0

0

 n/a

 n/a

 n/a

Glacier

0

0

0

0

0

0

 n/a

 n/a

 n/a

Golden Valley

0

0

0

0

0

0

 n/a

 n/a

 n/a

Granite

0

0

0

0

0

0

 n/a

 n/a

 n/a

Hill

0

0

2

0

0

2

3,713

 n/a

 n/a

Jefferson

0

0

0

0

0

0

 n/a

 n/a

 n/a

Judith Basin

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lake

0

0

0

0

0

0

 n/a

-100.00

-100.00

Lewis And Clark

0

0

0

0

4

4

6,615

100.00

-50.00

Liberty

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lincoln

0

0

0

0

0

0

 n/a

-100.00

-100.00

Madison

0

0

0

0

0

0

 n/a

 n/a

-100.00

McCone

0

0

1

0

0

1

1,076

 n/a

 n/a

Meagher

0

0

0

0

0

0

 n/a

 n/a

 n/a

Mineral

0

0

1

0

0

1

1,984

 n/a

0.00

Missoula

0

0

0

0

4

4

11,443

33.33

-63.64

Musselshell

0

0

0

0

0

0

 n/a

 n/a

 n/a

Park

0

0

0

0

0

0

 n/a

 n/a

 n/a

Petroleum

0

0

0

0

0

0

 n/a

 n/a

 n/a

Phillips

0

0

0

0

0

0

 n/a

 n/a

 n/a

Pondera

0

0

1

0

0

1

2,810

 n/a

0.00

Powder River

0

0

0

0

0

0

 n/a

 n/a

 n/a

Powell

0

0

0

0

0

0

 n/a

 n/a

 n/a

Prairie

0

0

0

0

0

0

 n/a

 n/a

 n/a

Ravalli

0

0

0

0

5

5

3,296

-16.67

-72.22

Richland

0

0

0

0

0

0

 n/a

 n/a

 n/a

Roosevelt

0

0

0

0

0

0

 n/a

 n/a

 n/a

Rosebud

0

0

0

0

0

0

 n/a

 n/a

 n/a

Sanders

0

0

0

0

0

0

 n/a

 n/a

 n/a

Sheridan

0

0

0

0

0

0

 n/a

 n/a

 n/a

Silver Bow

0

0

0

0

0

0

 n/a

 n/a

-100.00

Stillwater

0

0

1

0

0

1

4,006

0.00

 n/a

Sweet Grass

0

0

1

0

0

1

1,909

 n/a

 n/a

Teton

0

0

0

0

0

0

 n/a

 n/a

 n/a

Toole

0

0

1

0

0

1

2,276

0.00

 n/a

Treasure

0

0

0

0

0

0

 n/a

 n/a

 n/a

Valley

0

0

1

0

0

1

4,807

0.00

 n/a

Wheatland

0

0

0

0

0

0

 n/a

 n/a

 n/a

Wibaux

0

0

0

0

0

0

 n/a

 n/a

 n/a

Yellowstone

0

0

0

0

4

4

14,684

-50.00

-71.43

 

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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