Nebraska Foreclosure Activity Up 76 Percent in November

Statewide foreclosure filings up 500 percent from November 2008

 

Nebraska foreclosure activity rose for the month of November to 216 properties with foreclosure filings, up 76 percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The monthly total is 500 percent ahead of the level reported in November 2008.

 

Nebraska reported another significant increase in foreclosure filings in November, bringing the level of activity to six times what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While bank repossessions for a number of properties in peril were held off for the first half of 2009 because of the federal foreclosure prevention program, many of these homes were finally processed as foreclosures in recent months, thus creating the illusion of a substantial recent increase in activity in several states.”

 

One in every 3,615 Nebraska housing units received a foreclosure filing in November, the 45th highest foreclosure rate in the nation.

 

Douglas County posts state’s top foreclosure rate and total in November

Douglas County posted the highest county foreclosure rate in the state for November, with one in every 1,225 housing units receiving a foreclosure filing — three times the state average. Box Butte County had the second highest foreclosure rate, with one in every 2,738 housing units receiving a foreclosure filing. Howard County came in third highest, with one in every 2,992 housing units receiving a foreclosure filing.

 

Douglas County led state in total foreclosure filings for November

Douglas County also led all counties reporting 173 properties with foreclosure filings for the month. Lancaster County had the second highest total number of foreclosures, documenting 11 properties with foreclosure filings. Reporting eight properties with foreclosure filings for the month, Sarpy County had the third highest total in the state, while Dodge County was fourth highest, reporting five properties with foreclosure filings for the month.

 

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

Nebraska accounted for less than 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 U.S. housing units received a foreclosure filing during the month.

 

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 – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Nebraska

149

0

14

0

53

216

3,615

0.12

n/a

 

 

 

 

 

 

 

 

 

 

Douglas

149

0

5

0

19

173

1,225

0.34

2.95

Box Butte

0

0

0

0

2

2

2,738

0.15

1.32

Howard

0

0

0

0

1

1

2,992

0.14

1.21

Dodge

0

0

1

0

4

5

3,207

0.13

1.13

Phelps

0

0

1

0

0

1

4,263

0.10

0.85

 

 

Nebraska Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Nebraska

149

0

14

0

53

216

3,615

75.61

500.00

 

 

 

 

 

 

 

 

 

 

Douglas

149

0

5

0

19

173

1,225

136.99

1472.73

Lancaster

0

0

0

0

11

11

10,582

-15.38

22.22

Sarpy

0

0

2

0

6

8

7,238

60.00

166.67

Dodge

0

0

1

0

4

5

3,207

0.00

400.00

 

 

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