North Dakota Foreclosure Activity Rises in Third Quarter

Total foreclosure filings up 30 percent from Q2, Down 20 percent from Q3 2008.

 

North Dakota reported 114 properties with foreclosure filings in the third quarter of 2009, an increase of 30 percent from the previous quarter, but still 20 percent below the level reported in the third quarter of 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. 

 

Foreclosure activity in North Dakota was up 3 percent in September from the previous month to 34 properties with foreclosure filings, but still down 6 percent from September 2008.

 

“Foreclosure activity rose in North Dakota in the third quarter of 2009, though it remained well below the level 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.”

 

One in every 2,724 North Dakota housing units received a foreclosure filing during the third quarter, ranking 49th among the 50 states.

 

Sargent County posts state’s top foreclosure rate in the third quarter

Sargent County posted the highest county foreclosure rate in the state for the third quarter, with one in every 1,043 housing units receiving a foreclosure filing — 2.6 times the state average. Richland County was a close second, with one in every 1,101 housing units receiving a foreclosure filing during the quarter — 1.5 times the state average. Morton County posted the third highest foreclosure rate, where one in every 1,170 housing units received a foreclosure filing — 2.3 times the state average.

 

Cass County leads state in foreclosure activity in the third quarter

Cass County led the state, reporting 54 properties with foreclosure filings for the quarter. Grand Forks County had the second highest total, reporting 20 properties with foreclosure filings. Morton County came in third, tallying 10 properties with foreclosure filings. Burleigh County posted the fourth highest foreclosure activity, reporting eight properties with foreclosure filings. Richland County documented seven properties with foreclosure filings, the state’s fifth highest foreclosure total in the quarter.

 

State a minor contributor to nation’s foreclosure activity for quarter and month

North Dakota accounted for less than 1 percent of the 937,840 properties with foreclosure filings reported nationwide for the third quarter and less than 1 percent of the 343,638 properties with foreclosure filings reported for September. Total U.S. activity declined 5.4 percent between the second and third quarter of the year, but was up 23 percent from the third quarter of 2008. One in every 136 U.S. housing units received a foreclosure filing during the quarter, the highest quarterly foreclosure rate since RealtyTrac began issuing its report in 2005.

 

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.

 

 

North Dakota Top Foreclosure Rates By County – Q3 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

153,255

188,986

263,957

94,590

237,052

937,840

136

n/a

n/a

North Dakota

0

3

0

59

52

114

2,724

0.05

n/a

 

 

 

 

 

 

 

 

 

 

Sargent

0

0

0

1

1

2

1,043

0.13

2.61

Richland

0

0

0

3

4

7

1,101

0.12

2.47

Morton

0

1

0

6

3

10

1,170

0.12

2.33

Cass

0

0

0

37

17

54

1,192

0.11

2.28

Grand Forks

0

1

0

4

15

20

1,468

0.09

1.86

 

 

North Dakota Top Foreclosure Totals by County – Q3 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 09

% Chg Q3 08

 

 

 

 

 

 

 

 

 

 

United States

153,255

188,986

263,957

94,590

237,052

937,840

136

5.40

22.50

North Dakota

0

3

0

59

52

114

2,724

29.55

-20.28

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

37

17

54

1,192

45.95

-34.94

Grand Forks

0

1

0

4

15

20

1,468

42.86

66.67

Morton

0

1

0

6

3

10

1,170

100.00

233.33

Burleigh

0

0

0

5

3

8

4,132

-20.00

-33.33

Richland

0

0

0

3

4

7

1,101

75.00

75.00

 

 

North Dakota Top Foreclosure Rates By County – Sept 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

56,979

65,186

97,925

35,727

87,821

343,638

372

n/a

n/a

North Dakota

0

0

0

20

14

34

9,134

0.04

n/a

 

 

 

 

 

 

 

 

 

 

Foster

0

0

0

0

1

1

1,791

0.21

5.10

Sargent

0

0

0

1

0

1

2,086

0.18

4.38

Morton

0

0

0

3

2

5

2,340

0.16

3.90

Cass

0

0

0

13

6

19

3,389

0.11

2.69

Pembina

0

0

0

1

0

1

4,095

0.09

2.23

 

 

North Dakota Top Foreclosure Totals by County – Sept 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Aug 09

% Chg Sept 08

 

 

 

 

 

 

 

 

 

 

United States

56,979

65,186

97,925

35,727

87,821

343,638

372

-4.14

29.20

North Dakota

0

0

0

20

14

34

9,134

3.03

-5.56

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

13

6

19

3,389

58.33

35.71

Morton

0

0

0

3

2

5

2,340

25.00

400.00

Grand Forks

0

0

0

1

2

3

9,784

-40.00

50.00

Burleigh

0

0

0

0

1

1

33,052

-66.67

-75.00

Foster

0

0

0

0

1

1

1,791

 n/a

0.00

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