West Virginia Foreclosure Activity Declines in January

Statewide filings down 28 percent from December

 

Foreclosure activity in West Virginia decreased in January to 74 properties with foreclosure filings, a 28 percent decline from December 2009, and unchanged from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

West Virginia reported a decrease in foreclosure filings in January, bringing activity in line with one year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “It is important to note that this is a state which saw the effects of mounting foreclosures later than many others, so even with increases seen over several consecutive months, the state is still fairing much better than most of the nation.”

 

One in every 11,979 West Virginia housing units received a foreclosure filing in January, the 48th highest foreclosure rate in the nation.

 

Tucker County posts top foreclosure rate in the state for January

Tucker County posted the state’s highest county foreclosure rate in January, with one in every 2,412 housing units receiving a foreclosure filing. Monroe County had the second highest foreclosure rate, with one in every 2,514 housing units receiving a foreclosure filing. Wood County was third, with one in every 3,148 housing units receiving a foreclosure filing. Jefferson County came in fourth highest, with one in every 3,194 housing units receiving a foreclosure filing. Fifth highest foreclosure rate was in Hampshire County, where one in every 4,221 housing units received a foreclosure filing during the month.

 

Wood County led the state in total foreclosure filings for January

Wood County led all counties, totaling 13 properties with foreclosure filings for the month. Berkeley County was second highest, documenting 10 properties with foreclosure filings. Reporting seven properties with foreclosure filings for the month, Jefferson County had the third highest foreclosure total. Cabell, Ohio and Raleigh counties came in fourth highest, each reporting four properties with foreclosure filings.

 

State a minor contributor to nation’s foreclosure total in January

West Virginia accounted for less than 1 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 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.

 

 

West Virginia Top Foreclosure Rates By County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

West Virginia

0

0

2

0

72

74

11,979

0.03

n/a

 

 

 

 

 

 

 

 

 

 

Tucker

0

0

0

0

2

2

2,412

0.17

4.97

Monroe

0

0

0

0

3

3

2,514

0.16

4.76

Wood

0

0

0

0

13

13

3,148

0.13

3.81

Jefferson

0

0

0

0

7

7

3,194

0.13

3.75

Hampshire

0

0

0

0

3

3

4,221

0.10

2.84

 

 

West Virginia Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

West Virginia

0

0

2

0

72

74

11,979

-28.16

0.00

 

 

 

 

 

 

 

 

 

 

Wood

0

0

0

0

13

13

3,148

-63.89

18.18

Berkeley

0

0

0

0

10

10

4,400

42.86

42.86

Jefferson

0

0

0

0

7

7

3,194

-46.15

-41.67

Cabell

0

0

1

0

3

4

11,599

33.33

100.00

Ohio

0

0

0

0

4

4

5,548

300.00

n/a

Raleigh

0

0

0

0

4

4

9,262

33.33

-33.33

 

 

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