NORTH DAKOTA FORECLOSURE ACTIVITY DECREASES 5 PERCENT IN FIRST QUARTER

State Foreclosure Activity Up 142 Percent From Q1 2008

Monthly Foreclosure Activity Up 43 percent in March, Up 563 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 121 North Dakota properties in the first quarter of 2009, a 5 percent decrease from the previous quarter, but still 142 percent above the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

North Dakota reported 53 properties with foreclosure filings in March, a 43 percent increase from the previous month and 563 percent above its March 2008 total.

 

“North Dakota’s foreclosure activity decreased in the first quarter of 2009, though it remained

more than double the amount reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Conversely, the state’s economy continues to fair better than many other states, which is in large part due to its thriving agriculture and natural resource sectors.”

 

North Dakota ranked 48th in the country in total properties with foreclosure filings for the quarter. One in every 2,567 North Dakota housing units received a foreclosure filing during the month, the 45th highest state foreclosure rate in the nation.

 

Cass County the single largest contributor to state total for the quarter

Cass County led the state reporting 67 properties with foreclosure filings. Grand Forks County was second, reporting 20 properties with foreclosure filings for the quarter. Burleigh County was in third, reporting 13 properties with foreclosure filings.

 

Cass County posts state’s top foreclosure rate in the state for first quarter

Cass County led the state, with one in every 961 housing units receiving a foreclosure filing — 2.7 times the state average. Nelson County came in second, with one in every 1,010 housing units receiving a foreclosure filing — 2.5 times the state average. Grand Forks County posted the third highest foreclosure rate, where one in every 1,468 housing units received a foreclosure filing during the month — 1.7 times the state average.

 

State a minor contributor to nation’s foreclosure total for Q1 2009

North Dakota accounted for less than 1 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

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 quarter  — 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 quarter — which is extremely rare — only the most recent filing is counted in the report.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                      North Dakota Foreclosure Market Data by County – Q1 2009

Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%Change from Q4 08

%Change from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16

23.63

North Dakota

0

0

1

44

76

121

2,567

-4.72

142.00

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

Barnes

0

0

0

0

0

0

-100.00%

-100.00%

Benson

0

0

0

0

0

0

Billings

0

0

0

0

0

0

Bottineau

0

0

0

0

0

0

Bowman

0

0

0

0

0

0

Burke

0

0

0

0

0

0

Burleigh

0

0

1

5

7

13

2,542

8.33%

550.00%

Cass

0

0

0

25

42

67

961

-5.63%

318.75%

Cavalier

0

0

0

0

1

1

2,743

Dickey

0

0

0

0

0

0

Divide

0

0

0

0

0

0

Dunn

0

0

0

0

0

0

Eddy

0

0

0

0

0

0

Emmons

0

0

0

0

0

0

Foster

0

0

0

0

1

1

1,791

Golden Valley

0

0

0

0

0

0

Grand Forks

0

0

0

8

12

20

1,468

66.67%

33.33%

Grant

0

0

0

0

0

0

Griggs

0

0

0

0

0

0

-100.00%

Hettinger

0

0

0

0

0

0

Kidder

0

0

0

0

0

0

Lamoure

0

0

0

0

0

0

-100.00%

Logan

0

0

0

0

0

0

McHenry

0

0

0

0

0

0

McIntosh

0

0

0

0

0

0

-100.00%

-100.00%

McKenzie

0

0

0

0

0

0

Mclean

0

0

0

0

0

0

Mercer

0

0

0

0

0

0

Morton

0

0

0

2

0

2

5,850

0.00%

100.00%

Mountrail

0

0

0

0

0

0

Nelson

0

0

0

1

1

2

1,010

Oliver

0

0

0

0

0

0

Pembina

0

0

0

1

0

1

4,095

-50.00%

Pierce

0

0

0

0

1

1

2,274

Ramsey

0

0

0

0

0

0

Ransom

0

0

0

0

1

1

2,738

-66.67%

0.00%

Renville

0

0

0

0

0

0

Richland

0

0

0

2

3

5

1,542

-16.67%

400.00%

Rolette

0

0

0

0

1

1

5,009

Sargent

0

0

0

0

0

0

-100.00%

Sheridan

0

0

0

0

0

0

Sioux

0

0

0

0

0

0

Slope

0

0

0

0

0

0

Stark

0

0

0

0

0

0

-100.00%

Steele

0

0

0

0

0

0

Stutsman

0

0

0

0

1

1

9,965

-75.00%

-66.67%

Towner

0

0

0

0

0

0

Traill

0

0

0

0

0

0

Walsh

0

0

0

0

1

1

5,725

0.00%

0.00%

Ward

0

0

0

0

3

3

8,676

0.00%

-25.00%

Wells

0

0

0

0

1

1

2,657

-50.00%

0.00%

Williams

0

0

0

0

0

0

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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