Vermont Foreclosures Continue Upward Climb in August

Vermont foreclosure activity rose in August, up to 33 properties with foreclosure filings for the month, a 200 percent increase from the previous month and 83 percent above the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“For the past five months, Vermont foreclosures have been on the climb,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even so, the state continues to hold the lowest numbers in the country. With an unemployment rate well below the national average and a recent jump in home sales, it is likely that Vermont will continue to have very few foreclosures.”

 

Vermont held the lowest total foreclosures in the country for the month. With one in every 9,437 housing units receiving a foreclosure filing, its foreclosure rate was also lower than any state.

 

Vermont County posts state’s top foreclosure rate in August

Essex County posted the highest county foreclosure rate in the state for August, with one in every 4,887 housing units receiving a foreclosure filing — 1.9 times the state average. Bennington County had the second highest foreclosure rate, with one in every 6,888 housing units receiving a foreclosure filing during the month — 1.4 times the state average. Windham County posted the third highest foreclosure rate, where one in every 7,079 housing units received a foreclosure filing — 1.3 times the state average.

 

Six counties accounted for 76 percent of state’s foreclosure activity for August

Chittenden County led the way, tallying seven properties with foreclosure filings for the month. Rutland, Washington and Windham counties posted the second highest total in Vermont with each reporting four properties with foreclosure filings for the month. Bennington and Windsor counties were third highest, each reporting three properties with foreclosure filings.

 

State a minor contributor to nation’s foreclosure activity in August

Vermont accounted for less than one percent of the 358,471 properties with foreclosure filings reported nationwide in August. Total U.S. activity declined fractionally from the previous month but was still 18 percent ahead of August 2008. One in every 357 U.S. housing units received a foreclosure filing during the month.

 

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.

 

 

Vermont Top Foreclosure Rates by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

n/a

n/a

Vermont

5

1

5

0

22

33

9,437

0.04

n/a

 

 

 

 

 

 

 

 

 

 

Essex

0

0

0

0

1

1

4,887

0.07

1.93

Bennington

2

0

0

0

1

3

6,888

0.05

1.37

Windham

2

0

0

0

2

4

7,079

0.05

1.33

Washington

1

0

1

0

2

4

7,293

0.05

1.29

Caledonia

0

0

0

0

2

2

7,663

0.05

1.23

 

 

Vermont Top Foreclosure Totals by County – August 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 09

% Chg Aug 08

 

 

 

 

 

 

 

 

 

 

United States

62,070

76,154

105,850

38,263

76,134

358,471

357

6.74

32.32

Vermont

5

1

5

0

22

33

9,437

200.00

83.33

 

 

 

 

 

 

 

 

 

 

Chittenden

0

1

2

0

4

7

8,983

0.04

1.05

Rutland

0

0

0

0

4

4

8,235

300.00

33.33

Washington

1

0

1

0

2

4

7,293

300.00

300.00

Windham

2

0

0

0

2

4

7,079

n/a

100.00

Bennington

2

0

0

0

1

3

6,888

n/a

n/a

Windsor

0

0

0

0

3

3

11,107

50.00

50.00

 

 

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