Vermont Foreclosures Decline in October

Statewide filings up down 53 percent from September

 

Vermont reported15 properties with foreclosure filings in October, down 53 percent from the previous month, but still up 15 percent from the level reported in October 2008 according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Vermont foreclosures decreased in October,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in auctions, which dropped 100 percent for the month. With low unemployment and a healthy increase in home sales this year, it is no surprise that the state continues to have fewer foreclosures than any other state.”

 

Vermont ranked 50th in the country in total foreclosures reported for the month. With one in every 20,762 housing units receiving a foreclosure filing, its foreclosure rate ranked 50th among the 50 states.

 

Essex County posts state’s top foreclosure rate in October

Essex County posted the highest county foreclosure rate in Vermont for October, with one in every 2,444 housing units receiving a foreclosure filing — 8.5 times the state average. Washington County ranked second highest, reporting one in every 5,834 housing units receiving a foreclosure filing — 3.6 the state average. Bennington County had the third highest foreclosure rate, with one in every 10,332 housing units receiving a foreclosure filing — twice the state average. Rutland County posted the fourth highest foreclosure rate, where one in every 16,470 housing units received a foreclosure filing for October.

 

Five counties dominate state in foreclosure totals during October

Washington County led all counties, totaling five properties with foreclosure filings for the month. Bennington, Essex, Rutland and Windsor Counties were second highest, each documenting two properties with foreclosure filings for the month.

 

State responsible for less than 1 percent of nation’s foreclosure activity in October

Vermont accounted for less than 1 percent of the 332,292 properties with foreclosure filings reported nationwide in October. Total U.S. activity declined 3 percent from the previous month but was still 19 percent ahead of October 2008. One in every 385 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 – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

n/a

n/a

Vermont

0

0

0

0

15

15

20,762

0.02

n/a

 

 

 

 

 

 

 

 

 

 

Essex

0

0

0

0

2

2

2,444

0.16

8.50

Washington

0

0

0

0

5

5

5,834

0.07

3.56

Bennington

0

0

0

0

2

2

10,332

0.04

2.01

Rutland

0

0

0

0

2

2

16,470

0.02

1.26

Windsor

0

0

0

0

2

2

16,660

0.02

1.25

 

 

 

Vermont Top Foreclosure Totals by County – October 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 09

% Chg Oct 08

 

 

 

 

 

 

 

 

 

 

United States

51,373

72,916

94,850

36,076

77,077

332,292

385

-3.30

18.86

Vermont

0

0

0

0

15

15

20,762

-53.13

15.38

 

 

 

 

 

 

 

 

 

 

Washington

0

0

0

0

5

5

5,834

150.00

400.00

Bennington

0

0

0

0

2

2

10,332

100.00

n/a

Essex

0

0

0

0

2

2

2,444

100.00

n/a

Rutland

0

0

0

0

2

2

16,470

-71.43

n/a

Windsor

0

0

0

0

2

2

16,660

-33.33

0.00

 

 

 

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