Nebraska Foreclosure Activity Rises in First Quarter

Statewide foreclosure filings up from last year

March numbers up from a month earlier; up from a year ago

 

Foreclosure activity in Nebraska rose 85 percent during the first quarter of 2010 and was up 368 percent from the same period last year. In all, the state reported 1,038 properties with foreclosure filings during the quarter.

 

In March the state reported 519 properties with foreclosure filings, a 175 percent increase from the previous month and 184 percent above the level reported in March 2009. One in every 1,515 Nebraska housing units received a foreclosure filing during the month, the 41st highest state foreclosure rate.

 

“Nebraska reported a significant increase in foreclosure filings over the first quarter of 2010 to nearly double the level reported for last quarter and more than four times what was reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Though unemployment in Nebraska remains low at 5 percent, foreclosure filings nearly tripled between February and March alone, signaling that an end to the foreclosure crisis is still nowhere in sight.”

 

One in every 758 Nebraska housing units received a foreclosure filing during the quarter — the 43rd highest state foreclosure rate in the nation.

 

Douglas County tops state in foreclosure rate for the first quarter

Douglas County had the highest county foreclosure rate in Nebraska during the first quarter, with one in every 291 housing units receiving a foreclosure filing — 2.6 times the state average. Burt County had the second highest foreclosure rate, with one in every 535 housing units receiving a foreclosure filing. Gosper County came in third, with one in every 649 housing units receiving a foreclosure filing. Box Butte County had the fourth highest foreclosure rate, with one in every 686 housing units receiving a foreclosure filing. 

 

Douglas County also led the state in total foreclosures for the first quarter

Douglas County also led Nebraska in total foreclosures, reporting 736 properties with foreclosure filings. Lancaster County had the second highest foreclosure total, reporting 70 properties with foreclosure filings. Sarpy County came in third, reporting 50 properties with foreclosure filings for the quarter. Hall County was fourth, reporting 22 properties with foreclosure filings. Dodge County was fifth, reporting 13 properties with foreclosure filings.

 

State a minor contributor to quarterly foreclosure total

Nebraska represented less than 1 percent of the 932,234 properties with foreclosure filings reported nationwide for the first quarter of 2010. Total U.S. activity grew by more than 7 percent from the previous quarter and was 16 percent ahead of the first quarter 2009. One in every 138 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, 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 – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

n/a

n/a

Nebraska

576

0

207

0

255

1,038

758

0.18

n/a

 

 

 

 

 

 

 

 

 

 

Douglas

575

0

70

0

91

736

291

0.48

2.60

Burt

0

0

3

0

4

7

535

0.26

1.42

Gosper

0

0

1

0

1

2

649

0.21

1.17

Box Butte

0

0

4

0

4

8

686

0.20

1.10

Saline

0

0

3

0

5

8

724

0.19

1.05

 

 

Nebraska Top Foreclosure Totals by County – Q1 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q4 2009

% Chg Q1 2009

 

 

 

 

 

 

 

 

 

 

United States

121,367

183,432

267,159

102,332

257,944

932,234

138

7.23

16.02

Nebraska

576

0

207

0

255

1,038

758

85.36

367.57

 

 

 

 

 

 

 

 

 

 

Douglas

575

0

70

0

91

736

291

95.74

308.89

Lancaster

0

0

29

0

41

70

1,678

37.25

268.42

Sarpy

1

0

27

0

22

50

1,188

92.31

614.29

Hall

0

0

8

0

14

22

1,041

175.00

1,000.00

Dodge

0

0

4

0

9

13

1,235

-7.14

1,200.00

 

 

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