MONTANA FORECLOSURE ACTIVITY UP 45 PERCENT IN NOVEMBER

Filings Statewide Decrease 51 Percent From November 2007

 

IRVINE, Calif. – Dec. 29, 2008 – Foreclosure filings were reported on 58 Montana properties in November, an increase of 45 percent from the previous month, but still 51 percent below the level reported for November 2007, 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.

 

“Foreclosure activity within Montana increased between October and November, but remained lower than the level of activity reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment, while well below the national average, rose in November, adding more pressure to homeowners.”

 

Montana ranked 45th in the country in total properties with foreclosure filings for November. One in every 7,449 Montana housing units received a foreclosure filing during the month, ranking its foreclosure rate 45th highest among the 50 states.

 

Gallatin County tops in foreclosure activity for November

Gallatin County led the state in terms of total foreclosure activity, reporting 15 properties with foreclosure filings for the month. Flathead County came in second highest, reporting 10 properties with foreclosure filings. Cascade County ranked third highest, reporting nine properties with foreclosure filings.

 

Gallatin County post state’s top rate for November

With one in every 2,379 housing units receiving a foreclosure filing during the month — 3.1 times the state average but still below the national average — Gallatin County led the state in terms of foreclosure rate. Second highest rate was reported in Phillips County, where one in every 2,491 housing units received a foreclosure filing — nearly three times the state average. Third highest rate was documented in Flathead County, where one in every 3,731 housing units received a foreclosure filing during the month — nearly two times the state average.

 

State a minor contributor to nation’s foreclosure total in November

Montana accounted for less than 1 percent of the 259,085 properties with foreclosure filings reported nationwide in November. The national total represented a decrease of more than 7 percent from the previous month but was still 28 percent ahead of the total reported for November 2007. One in every 488 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 – November 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

United States

39,416

53,827

64,136

23,527

78,179

259,085

488

n/a

n/a

Montana

0

0

6

0

52

58

7,449

0.07

n/a

 

 

 

 

 

 

 

 

 

 

Beaverhead

0

0

0

0

0

0

 n/a

0.00

0.00

Big Horn

0

0

0

0

0

0

 n/a

0.00

0.00

Blaine

0

0

0

0

0

0

 n/a

0.00

0.00

Broadwater

0

0

0

0

0

0

 n/a

0.00

0.00

Carbon

0

0

0

0

0

0

 n/a

0.00

0.00

Carter

0

0

0

0

0

0

 n/a

0.00

0.00

Cascade

0

0

0

0

9

9

3,992

0.12

1.87

Chouteau

0

0

0

0

0

0

 n/a

0.00

0.00

Custer

0

0

0

0

0

0

 n/a

0.00

0.00

Daniels

0

0

0

0

0

0

 n/a

0.00

0.00

Dawson

0

0

1

0

0

1

4,144

0.12

1.80

Deer Lodge

0

0

0

0

1

1

5,046

0.10

1.48

Fallon

0

0

0

0

0

0

 n/a

0.00

0.00

Fergus

0

0

0

0

0

0

 n/a

0.00

0.00

Flathead

0

0

0

0

10

10

3,731

0.13

2.00

Gallatin

0

0

0

0

15

15

2,379

0.20

3.13

Garfield

0

0

0

0

0

0

 n/a

0.00

0.00

Glacier

0

0

0

0

0

0

 n/a

0.00

0.00

Golden Valley

0

0

0

0

0

0

 n/a

0.00

0.00

Granite

0

0

0

0

0

0

 n/a

0.00

0.00

Hill

0

0

1

0

0

1

7,427

0.07

1.00

Jefferson

0

0

0

0

0

0

 n/a

0.00

0.00

Judith Basin

0

0

0

0

0

0

 n/a

0.00

0.00

Lake

0

0

1

0

1

2

7,009

0.07

1.06

Lewis And Clark

0

0

0

0

3

3

8,783

0.06

0.85

Liberty

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

0

0

0

1

1

9,377

0.05

0.79

Madison

0

0

0

0

1

1

4,732

0.10

1.57

Mccone

0

0

0

0

0

0

 n/a

0.00

0.00

Meagher

0

0

0

0

0

0

 n/a

0.00

0.00

Mineral

0

0

0

0

0

0

 n/a

0.00

0.00

Missoula

0

0

1

0

4

5

9,073

0.05

0.82

Musselshell

0

0

0

0

0

0

 n/a

0.00

0.00

Park

0

0

0

0

0

0

 n/a

0.00

0.00

Petroleum

0

0

0

0

0

0

 n/a

0.00

0.00

Phillips

0

0

0

0

1

1

2,491

0.20

2.99

Pondera

0

0

0

0

0

0

 n/a

0.00

0.00

Powder River

0

0

0

0

0

0

 n/a

0.00

0.00

Powell

0

0

0

0

0

0

 n/a

0.00

0.00

Prairie

0

0

0

0

0

0

 n/a

0.00

0.00

Ravalli

0

0

0

0

4

4

4,109

0.12

1.81

Richland

0

0

0

0

0

0

 n/a

0.00

0.00

Roosevelt

0

0

0

0

0

0

 n/a

0.00

0.00

Rosebud

0

0

0

0

0

0

 n/a

0.00

0.00

Sanders

0

0

0

0

0

0

 n/a

0.00

0.00

Sheridan

0

0

0

0

0

0

 n/a

0.00

0.00

Silver Bow

0

0

0

0

1

1

16,248

0.03

0.46

Stillwater

0

0

1

0

0

1

4,017

0.12

1.85

Sweet Grass

0

0

0

0

0

0

 n/a

0.00

0.00

Teton

0

0

0

0

0

0

 n/a

0.00

0.00

Toole

0

0

0

0

0

0

 n/a

0.00

0.00

Treasure

0

0

0

0

0

0

 n/a

0.00

0.00

Valley

0

0

1

0

0

1

4,818

0.10

1.55

Wheatland

0

0

0

0

0

0

 n/a

0.00

0.00

Wibaux

0

0

0

0

0

0

 n/a

0.00

0.00

Yellowstone

0

0

0

0

1

1

58,206

0.01

0.13

 

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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