VERMONT FORECLOSURE ACTIVITY DECREASES 60 PERCENT IN FIRST QUARTER

State Foreclosure Activity Up 600 Percent From Q1 2008

Monthly Activity Down 64 percent in March, Up 100 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 21 Vermont properties in the first quarter of 2009, a 60 percent decrease from the previous quarter, but still 600 percent above the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Vermont reported four properties with foreclosure filings in March, a 64 percent decrease from the previous month, but still 100 percent above its March 2008 total.

 

“Vermont’s foreclosure activity decreased significantly in the first quarter of 2009, though it remained grossly elevated compared to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment continues to be a problem within the state, inching up slightly from one month to the next.”

 

Vermont ranked 50th in the country in total properties with foreclosure filings for the quarter. One in every 14,830 Vermont housing units received a foreclosure filing during the month, the 50th highest state foreclosure rate in the nation.

 

Franklin and Washington counties post state’s highest total for the quarter

Franklin and Washington counties led the state, each reporting five properties with foreclosure filings. Windsor County was second, reporting three properties with foreclosure filings for the quarter. Caledonia and Chittenden counties were in third, each reporting two properties with foreclosure filings.

 

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

Franklin County led the state, with one in every 4,181 housing units receiving a foreclosure filing — 3.5 times the state average. Washington County came in second, with one in every 5,834 housing units receiving a foreclosure filing — 2.5 times the state average. Caledonia County posted the third highest foreclosure rate, where one in every 7,663 housing units received a foreclosure filing during the month — 1.9 times the state average.

 

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

Vermont 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.

 

                         Vermont 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

Vermont

0

0

1

0

20

21

14,830

-59.62

600.00

 

 

 

 

 

 

 

 

 

 

Addison

0

0

0

0

1

1

16,450

-66.67%

Bennington

0

0

0

0

0

0

-100.00%

Caledonia

0

0

1

0

1

2

7,663

-33.33%

Chittenden

0

0

0

0

2

2

31,440

-50.00%

-33.33%

Essex

0

0

0

0

0

0

-100.00%

Franklin

0

0

0

0

5

5

4,181

-54.55%

Grand Isle

0

0

0

0

0

0

-100.00%

Lamoille

0

0

0

0

1

1

12,107

-75.00%

Orange

0

0

0

0

0

0

-100.00%

Orleans

0

0

0

0

0

0

-100.00%

Rutland

0

0

0

0

1

1

32,940

-83.33%

Washington

0

0

0

0

5

5

5,834

25.00%

Windham

0

0

0

0

1

1

28,317

-50.00%

Windsor

0

0

0

0

3

3

11,107

-50.00%

 

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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