Vermont Foreclosure Activity Decreases in August

Filings decrease 91 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 17 Vermont properties in August, a 91 percent decrease from the previous month and a 48 percent decrease from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

Vermont foreclosures were down nearly 100 percent in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in bank-owned properties, which fell 92 percent during the month. With its continued low unemployment rate and higher-than-average home sales, it is likely that foreclosures here will remain scarce.”

 

Vermont ranked 50th in the nation in total foreclosures reported for the month. Its foreclosure rate of one in every 18,389 housing units receiving a foreclosure filing during the month, ranked it 50th among the 50 states.

 

Essex County dominates the state in foreclosure rate for August

Foreclosure rates for August were led by Essex County, where one in every 4,891housing units received a foreclosure filing during the month. One in every 5,264 housing units received a foreclosure filing in Orleans County, for the second highest rate in the state. Coming in third was Washington County, where one in every 14,645 housing units received a foreclosure filing in August. Fourth highest was Caledonia County, where one in every 15,387 housing units received a foreclosure filing. Rutland County came in fifth, with one in every 16,465 housing units receiving a foreclosure filing during the month.

 

Chittenden and Orleans Counties post top foreclosure total for August

Chittenden and Orleans Counties led Vermont in total foreclosure activity for August, with each reporting three properties with foreclosure filings. Rutland, Washington and Windsor Counties followed, with each tallying two properties with foreclosure filings.

 

State contributes less than 1 percent to nation’s monthly foreclosure total

Vermont accounted for less than 1 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 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.

 

 

Vermont Top Foreclosure Rates By County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

Vermont

0

0

1

0

16

17

18,389

0.02

n/a

 

 

 

 

 

 

 

 

 

 

Essex

0

0

1

0

0

1

4,891

0.08

3.76

Orleans

0

0

0

0

3

3

5,264

0.07

3.49

Washington

0

0

0

0

2

2

14,645

0.03

1.26

Caledonia

0

0

0

0

1

1

15,387

0.02

1.20

Rutland

0

0

0

0

2

2

16,465

0.02

1.12

 

 

Vermont Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

Vermont

0

0

1

0

16

17

18,389

-91.46

-48.48

 

 

 

 

 

 

 

 

 

 

Chittenden

0

0

0

0

3

3

21,083

-81.25

-57.14

Orleans

0

0

0

0

3

3

5,264

-76.92

50.00

Rutland

0

0

0

0

2

2

16,465

-93.75

-50.00

Washington

0

0

0

0

2

2

14,645

-87.50

-50.00

Windsor

0

0

0

0

2

2

16,710

-90.00

-33.33

 

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