Nebraska Foreclosure Activity Declines in October

Statewide filings down 65 percent from September

 

Nebraska foreclosure filings declined 65 percent from the previous month to 123 properties with foreclosure filings in October, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is still 146 percent ahead of the state foreclosure level reported one year ago, however.

 

“Nebraska foreclosures dropped in October but are substantially ahead of the level reported this time last year,” said James J. Saccacio chief executive officer of RealtyTrac. “The largest decline was in default notices and bank-owned properties, which both fell 67 percent for the month. The state currently holds the second lowest unemployment rate in the country. This has undoubtedly helped to keep foreclosures here lower than in many states.”

 

Nebraska ranked 44th in the country in total foreclosures for the month. With one in every 6,348 housing units receiving a foreclosure filing, its foreclosure rate ranked 48th among the 50 states.

 

Furnas County posts state’s top foreclosure rate in October

With one in every 1,368 housing units receiving a foreclosure filing — 4.6 times the state average — Furnas County posted the highest county foreclosure rate in the state for October. Pawnee County ranked second highest, reporting one in every 1,610 housing units receiving a foreclosure filing — 3.9 times the state average. Franklin County had the third highest rate, with one in every 1,726 housing units receiving a foreclosure filing — 3.7 times the state average. Fourth highest foreclosure rate was in Morrill County, where one in every 2,477 housing units received a foreclosure filing during the month — 2.6 times the state average. Fifth highest rate was reported in Kearney County, where one in every 2,852 housing units received a foreclosure filing during the month — 2.2 times the state average.

 

Five counties dominate state in foreclosure total for October

Five counties accounted for 81 percent of all foreclosure activity in the state for October. Douglas County led all counties, totaling 73 properties with foreclosure filings for the month. Lancaster County was second highest, documenting 13 properties with foreclosure filings. Each reporting five properties with foreclosure filings for the month, Dodge County and Sarpy County tied for third, followed by Buffalo County, which reported four properties with foreclosure filings for the month.

 

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

Nebraska accounted for less than 1 percent of the 332,292 properties with foreclosure filings reported nationwide in October. Total U.S. activity declined 3 percent from the previous month but was still 19 percent ahead of October 2008. One in every 385 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.

 

 

Nebraska Top Foreclosure Rates by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

n/a

n/a

Nebraska

58

0

6

0

59

123

6,348

0.06

n/a

 

 

 

 

 

 

 

 

 

 

Furnas

0

0

0

0

2

2

1,368

0.28

4.64

Pawnee

0

0

0

0

1

1

1,610

0.24

3.94

Franklin

0

0

0

0

1

1

1,726

0.22

3.68

Morrill

0

0

0

0

1

1

2,477

0.16

2.56

Kearney

0

0

1

0

0

1

2,852

0.13

2.23

 

 

 

 

Nebraska Top Foreclosure Totals by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 09

% Chg Oct 08

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

-3.30

18.86

Nebraska

58

0

6

0

59

123

6,348

-65.35

146.00

 

 

 

 

 

 

 

 

 

 

Douglas

0

39

0

79

17

73

2,904

-67.98

231.82

Lancaster

0

18

0

55

15

13

8,954

-65.79

62.50

Dodge

0

19

0

39

15

5

3,207

-16.67

n/a

Sarpy

0

0

0

26

9

5

11,581

-58.33

-16.67

Buffalo

0

0

0

6

3

4

4,649

33.33

300.00

 

 

 

 

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