Montana Reports Nearly 300 Properties With Montana Reports Nearly 300 Properties With

Statewide activity down 49 percent from previous six months

Filings decrease 1 Percent in Q2; Up 68 percent in June

 

Montana reported 290 properties with foreclosure filings for the first six months of 2009, a 49 percent decrease from the previous six months and 60 percent below the level reported for the first half of 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The Treasure State reported 151 properties with foreclosure filings for the second quarter of the year, a 1 percent decrease from the previous quarter and 55 percent below the total reported for the same quarter last year. For June the state reported 62 properties with foreclosure filings, up 68 percent from the previous month but down 34 percent from June 2008.

 

“Although foreclosure activity in Montana spiked in June, during the first six months of 2009 the number of foreclosure filings reported was down by nearly 50 percent,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state continues to hold an unemployment rate far below the national average and home sales have begun to pick up, both of which are factors leading to lower foreclosure levels in the long run.”

 

Montana ranked 47th in the country in total foreclosures for the first six months of 2009. With one in every 1,502 housing units receiving a foreclosure filing, its foreclosure rate ranked 48th among the 50 states.

 

Flathead County led state in foreclosure filings through midyear

Flathead County tallied the most foreclosures in the state during the first half of 2009, reporting 67 properties with foreclosure filings. Gallatin County came in second highest, reporting 41 properties with foreclosure filings halfway through the year. Yellowstone County was third highest, documenting 32 properties with foreclosure filings. Fourth highest total was in both Cascade County and Ravalli County where 30 properties with foreclosure filings were reported in each county, followed by Missoula County, reporting 28 properties with foreclosure filings at midyear.

 

Ravalli County dominated in midyear foreclosure rate rankings

With one in every 549 housing units receiving a foreclosure filing during the first six months of 2009, Ravalli County posted the highest county foreclosure rate in the state. Flathead County was second, with one in every 564 housing units receiving a foreclosure filing during the period. Toole County had the third highest rate, with one in every 569 housing units receiving a foreclosure filing.

 

State a minor contributor to nation’s foreclosure total halfway through 2009

Montana accounted for less than 1 percent of the 1,528,364 properties with foreclosure filings reported nationwide halfway through 2009. The national total represented a greater than 9 percent increase in activity from the previous six month period and was almost 15 percent ahead of the total reported for the first half of 2008. One in every 84 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

       January – June 2009

 

County Name

Total Properties with FC Filings

% Housing Units

1/every X HU (rate)

% Chg From Jul-Dec 08

% Chg From Jan-Jun  08

 

 

 

 

 

 

United States

1,528,364

1.195

84

9.46

14.66

Montana

290

0.07

1,502

-49.03

-59.61

 

 

 

 

 

 

Beaverhead

0

0.00

 n/a

-100.00

 n/a

Big Horn

0

0.00

 n/a

-100.00

-100.00

Blaine

2

0.07

1,466

100.00

 n/a

Broadwater

0

0.00

 n/a

-100.00

 n/a

Carbon

0

0.00

 n/a

-100.00

-100.00

Carter

0

0.00

 n/a

 n/a

 n/a

Cascade

30

0.08

1,210

-49.15

-72.48

Chouteau

0

0.00

 n/a

 n/a

 n/a

Custer

1

0.02

5,327

-50.00

-75.00

Daniels

0

0.00

 n/a

 n/a

 n/a

Dawson

5

0.12

827

400.00

0.00

Deer Lodge

8

0.16

632

-33.33

-55.56

Fallon

0

0.00

 n/a

 n/a

 n/a

Fergus

5

0.09

1,106

400.00

-61.54

Flathead

67

0.18

564

-36.19

-41.23

Gallatin

41

0.11

910

-43.06

-31.67

Garfield

0

0.00

 n/a

 n/a

 n/a

Glacier

0

0.00

 n/a

 n/a

 n/a

Golden Valley

0

0.00

 n/a

 n/a

-100.00

Granite

1

0.05

2,067

0.00

 n/a

Hill

2

0.03

3,713

-33.33

0.00

Jefferson

0

0.00

 n/a

-100.00

 n/a

Judith Basin

0

0.00

 n/a

 n/a

 n/a

Lake

6

0.04

2,351

-33.33

-68.42

Lewis And Clark

9

0.03

2,940

-68.97

-82.00

Liberty

0

0.00

 n/a

-100.00

-100.00

Lincoln

4

0.04

2,340

-75.00

-50.00

Madison

0

0.00

 n/a

-100.00

-100.00

Mccone

1

0.09

1,076

 n/a

 n/a

Meagher

0

0.00

 n/a

 n/a

 n/a

Mineral

2

0.10

992

-60.00

-66.67

Missoula

28

0.06

1,635

-53.33

-63.16

Musselshell

0

0.00

 n/a

 n/a

 n/a

Park

1

0.01

8,467

-83.33

0.00

Petroleum

0

0.00

 n/a

 n/a

 n/a

Phillips

0

0.00

 n/a

-100.00

 n/a

Pondera

1

0.04

2,810

 n/a

0.00

Powder River

0

0.00

 n/a

 n/a

 n/a

Powell

1

0.03

2,912

-80.00

0.00

Prairie

0

0.00

 n/a

 n/a

 n/a

Ravalli

30

0.18

549

-56.52

-64.71

Richland

0

0.00

 n/a

 n/a

 n/a

Roosevelt

0

0.00

 n/a

 n/a

-100.00

Rosebud

0

0.00

 n/a

 n/a

-100.00

Sanders

2

0.04

2,650

-50.00

100.00

Sheridan

0

0.00

 n/a

 n/a

 n/a

Silver Bow

1

0.01

16,260

-90.00

-87.50

Stillwater

3

0.07

1,335

-50.00

-25.00

Sweet Grass

1

0.05

1,909

0.00

 n/a

Teton

0

0.00

 n/a

-100.00

-100.00

Toole

4

0.18

569

300.00

 n/a

Treasure

0

0.00

 n/a

 n/a

 n/a

Valley

2

0.04

2,404

0.00

 n/a

Wheatland

0

0.00

 n/a

 n/a

 n/a

Wibaux

0

0.00

 n/a

 n/a

 n/a

Yellowstone

32

0.05

1,836

-56.76

-73.55

              

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