Vermont Foreclosure Activity Rises in July

Statewide foreclosure filings up 1,558 percent from June

 

Foreclosure activity in Vermont increased 1,558 percent in July to 199 properties with foreclosure filings, 1,709 percent above the level reported in July 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Vermont experienced a major hike in foreclosure activity in July, with filings up 1,558 percent from June and 1,709 percent from July 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “Though these increases appear devastating, it is important to remember that Vermont’s foreclosure activity remains well below the national average and that the state’s job market remains strong, with recent increases in the construction, professional, scientific and technical services sectors.”

 

The state reported the 39th highest state foreclosure rate, as one in every 1,571 Vermont housing units received a foreclosure filing during the month.

 

Bennington County posts top county foreclosure rate in July

Bennington County posted the top foreclosure rate in Vermont for the month, with one in every 903 housing units receiving a foreclosure filing in July. Rutland County posted the second highest foreclosure rate, with one in every 1,029 housing units receiving a foreclosure filing during the month. Coming in third was Franklin County, where one in every 1,106 housing units received a foreclosure filing in July.

 

Rutland County had top foreclosure total for July

Rutland County led Vermont in total foreclosure activity, reporting 32 properties with foreclosure filings in July. Bennington County documented the second highest foreclosure activity, reporting 23 properties with foreclosure filings. Windsor County came in third highest, tallying 19 properties with foreclosure filings.  Chittenden and Washington counties had the fourth highest total, each reporting 16 properties with foreclosure filing.

 

State a minor contributor to nation’s monthly foreclosure total

Vermont accounted for less than 1 percent of the 325,229 properties with foreclosure filings reported nationwide in July. Total U.S. activity increased by more than 3 percent from the previous month but was down almost 10 percent from the level reported in July 2009. One in every 397 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 – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

n/a

n/a

Vermont

0

0

0

0

199

199

1,571

0.25

n/a

 

 

 

 

 

 

 

 

 

 

Bennington

0

0

0

0

23

23

903

0.44

1.74

Rutland

0

0

0

0

32

32

1,029

0.39

1.53

Franklin

0

0

0

0

19

19

1,106

0.36

1.42

Orleans

0

0

0

0

13

13

1,215

0.33

1.29

Addison

0

0

0

0

13

13

1,274

0.31

1.23

 

 

Vermont Top Foreclosure Totals by County – July 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

42,651

54,472

87,310

47,938

92,858

325,229

397

3.63

-9.70

Vermont

0

0

0

0

199

199

1,571

1,558.33

1,709.09

 

 

 

 

 

 

 

 

 

 

Rutland

0

0

0

0

32

32

1,029

966.67

3,100.00

Bennington

0

0

0

0

23

23

903

 

 

Windsor

0

0

0

0

20

20

1,671

1,900.00

900.00

Franklin

0

0

0

0

19

19

1,106

 

850.00

Chittenden

0

0

0

0

16

16

3,953

700.00

1,500.00

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved