NEBRASKA FORECLOSURE ACTIVITY DOWN 12 PERCENT IN 2008

Nearly 3,200 Properties Received Foreclosure Filings During The Year

 

IRVINE, Calif. – Jan. 28, 2009 – Foreclosure filings were reported on 3,190 Nebraska properties in 2008, a decrease of 12 percent from 2007 but a 26 percent increase from 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The Cornhusker State reported 46 properties with foreclosure filings in December, up 28 percent from the previous month but a 90 percent decrease from December 2007.

 

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.

 

Nebraska was the only state to experience a year over year decline in foreclosures for 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state had one of the lowest unemployment rates in the country last year despite a 1 percent increase in unemployment for the year. Also, subprime and Alt-A loans were not prevalent in the state. These factors are helping the state to weather the foreclosure crisis gripping most of the country.”

 

Nebraska ranked 39th in the country in total foreclosures for the year. With one in every 243 housing units receiving a foreclosure filing, its foreclosure rate ranked 39th among the 50 states.

 

Top five counties responsible for bulk of state’s foreclosure activity

Five Nebraska counties accounted for 91 percent of all foreclosure activity in the state for 2008. Douglas County led all others, reporting 1,691 properties with foreclosure filings for the year. Lancaster County came in second highest, reporting 693 properties with foreclosure filings. Sarpy County registered the third highest total, reporting 349 properties with foreclosure filings. Fourth highest was Hall County, reporting 92 properties with foreclosure filings. Scotts Bluff County came in fifth, documenting 62 properties with foreclosure filings.

 

Douglas County posts state’s top foreclosure rate for 2008

With 0.81 percent of its housing units receiving at least one foreclosure filing during the year, Douglas County posted the top foreclosure rate in the state for 2008. Saunders County had the second highest rate, with 0.62 percent of its housing units receiving at least one foreclosure filing. Third highest was Sarpy County, where 0.62 percent of the housing stock received at least one foreclosure filing in 2008.

 

State a minor contributor to nation’s foreclosure total for 2008

Nebraska accounted for less than 1 percent of the 2,330,483 properties with foreclosure filings reported nationwide in 2008. The national total represented an increase of more than 81 percent from the total reported for 2007. For the year 1.84 percent of all U.S. housing units received at least one foreclosure filing, up from 1.03 percent in 2007.

 

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 Foreclosure Market Data by County – Yearend 2008

 

Rate Rank

County

Total Properties With Foreclosure Filings

% Housing Units

(Foreclosure Rate)

% Change From 2007

 

 

 

 

 

n/a

United States

2,330,483

1.84

81.24

n/a

Nebraska

3,190

0.41

-12.27

 

 

 

 

 

30

Adams

7

0.05

133.33

27

Antelope

2

0.06

n/a

52

Arthur

0

0.00

n/a

52

Banner

0

0.00

n/a

52

Blaine

0

0.00

n/a

52

Boone

0

0.00

n/a

39

Box Butte

2

0.04

0.00

52

Boyd

0

0.00

n/a

52

Brown

0

0.00

n/a

34

Buffalo

8

0.04

700.00

13

Burt

7

0.19

250.00

31

Butler

2

0.05

100.00

15

Cass

14

0.13

366.67

52

Cedar

0

0.00

-100.00

29

Chase

1

0.05

n/a

52

Cherry

0

0.00

n/a

52

Cheyenne

0

0.00

n/a

25

Clay

2

0.06

n/a

6

Colfax

19

0.46

850.00

11

Cuming

9

0.21

-10.00

41

Custer

2

0.04

100.00

10

Dakota

23

0.30

1050.00

52

Dawes

0

0.00

n/a

35

Dawson

4

0.04

33.33

52

Deuel

0

0.00

n/a

21

Dixon

2

0.07

n/a

26

Dodge

10

0.06

233.33

1

Douglas

1,691

0.81

-23.79

52

Dundy

0

0.00

n/a

17

Fillmore

3

0.10

n/a

52

Franklin

0

0.00

n/a

52

Frontier

0

0.00

n/a

38

Furnas

1

0.04

0.00

28

Gage

6

0.06

500.00

52

Garden

0

0.00

n/a

52

Garfield

0

0.00

n/a

52

Gosper

0

0.00

n/a

52

Grant

0

0.00

n/a

52

Greeley

0

0.00

n/a

7

Hall

92

0.41

1214.29

20

Hamilton

3

0.08

n/a

52

Harlan

0

0.00

n/a

52

Hayes

0

0.00

n/a

52

Hitchcock

0

0.00

-100.00

52

Holt

0

0.00

-100.00

52

Hooker

0

0.00

n/a

42

Howard

1

0.03

n/a

52

Jefferson

0

0.00

n/a

18

Johnson

2

0.09

n/a

22

Kearney

2

0.07

100.00

50

Keith

1

0.02

-50.00

52

Keya Paha

0

0.00

n/a

12

Kimball

4

0.20

n/a

49

Knox

1

0.02

n/a

4

Lancaster

693

0.60

-1.98

48

Lincoln

4

0.02

100.00

52

Logan

0

0.00

n/a

52

Loup

0

0.00

n/a

32

Madison

7

0.05

133.33

52

Mcpherson

0

0.00

n/a

47

Merrick

1

0.03

n/a

36

Morrill

1

0.04

n/a

52

Nance

0

0.00

n/a

46

Nemaha

1

0.03

0.00

19

Nuckolls

2

0.08

100.00

45

Otoe

2

0.03

100.00

52

Pawnee

0

0.00

n/a

52

Perkins

0

0.00

n/a

52

Phelps

0

0.00

n/a

44

Pierce

1

0.03

0.00

51

Platte

2

0.02

-50.00

40

Polk

1

0.04

n/a

9

Red Willow

16

0.30

-23.81

24

Richardson

3

0.07

n/a

52

Rock

0

0.00

n/a

16

Saline

7

0.12

16.67

3

Sarpy

349

0.62

-18.46

2

Saunders

56

0.62

19.15

8

Scotts Bluff

62

0.38

-20.51

14

Seward

11

0.16

1000.00

52

Sheridan

0

0.00

-100.00

52

Sherman

0

0.00

n/a

52

Sioux

0

0.00

n/a

37

Stanton

1

0.04

n/a

23

Thayer

2

0.07

100.00

52

Thomas

0

0.00

n/a

52

Thurston

0

0.00

-100.00

33

Valley

1

0.04

n/a

5

Washington

44

0.55

-30.16

52

Wayne

0

0.00

n/a

52

Webster

0

0.00

n/a

52

Wheeler

0

0.00

n/a

43

York

2

0.03

0.00

 

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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