Nebraska Foreclosures Rise in August

Nebraska foreclosure activity rose in August, up to 222 properties with foreclosure filings for the month, a 14 percent increase from the previous month but 42 percent below the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Although Nebraska foreclosures rose in August, they are down significantly from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was is in auctions, which fell 95 percent for the year. The state currently holds the third lowest unemployment rate and had one of the highest jumps in home sales during the second quarter. These factors are likely keeping foreclosures here among the lowest in the country.”

 

Nebraska ranked 44th in the country in total foreclosures reported for the month. With one in every 3,517 housing units receiving a foreclosure filing, its foreclosure rate ranked 45th among the 50 states.

 

Douglas County posts state’s top foreclosure rate in August

Douglas County posted the highest county foreclosure rate in the state for August, with one in every 1,122 housing units receiving a foreclosure filing — 3.1 times the state average. Pawnee County had the second highest foreclosure rate, with one in every 1,610 housing units receiving a foreclosure filing during the month — 2.2 times the state average. Kimball County posted the third highest rate, where one in every 1,969 housing units received a foreclosure filing — 1.8 times the state average.

 

Two counties accounted for 91 percent of state’s foreclosure activity for August

Douglas County led the way, tallying 189 properties with foreclosure filings for the month. Lancaster County reported the second highest foreclosure total, documenting 12 properties with foreclosure filings.

 

State a minor contributor to nation’s foreclosure activity in August

Nebraska accounted for less than one percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 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 – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

Nebraska

75

88

11

5

43

222

3,517

0.10

n/a

 

 

 

 

 

 

 

 

 

 

Douglas

71

88

8

3

19

189

1,122

0.32

3.14

Pawnee

0

0

0

0

1

1

1,610

0.22

2.18

Kimball

0

0

0

0

1

1

1,969

0.18

1.79

Custer

0

0

0

0

2

2

2,827

0.13

1.24

Hamilton

0

0

0

0

1

1

3,980

0.09

0.88

 

 

Nebraska Top Foreclosure Totals by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

Nebraska

75

88

11

5

43

222

3,517

13.85

-42.34

 

 

 

 

 

 

 

 

 

 

Douglas

71

88

8

3

19

189

1,122

8.00

-16.74

Lancaster

3

0

1

0

8

12

9,700

200.00

-86.52

Cass

0

0

1

0

1

2

5,565

100.00

-60.00

Custer

0

0

0

0

2

2

2,827

n/a

n/a

Dodge

0

0

0

0

2

2

8,017

n/a

n/a

Madison

0

0

1

0

1

2

7,533

n/a

n/a

Saunders

0

0

0

1

1

2

4,546

n/a

-81.82

 

 

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