West Virginia Foreclosure Activity Increases in August

Filings increase 48 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 127 West Virginia properties in August, a 48 percent increase from the previous month but a 11 percent decrease from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

West Virginia foreclosures were up in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in auctions, which climbed 55 percent for the month. Home sales throughout the state were slightly lower than the national average during the second quarter. This has likely contributed to the recent increase.”

 

West Virginia ranked 47th in the nation in total foreclosures reported for the month. Its foreclosure rate of one in every 6,980 housing units receiving a foreclosure filing during the month, ranked it 49th among the 50 states.

 

Lewis County dominates the state in foreclosure rate for August

Foreclosure rates for August were led by Lewis County, where one in every 2,041 housing units received a foreclosure filing during the month. One in every 2,200 housing units received a foreclosure filing in Berkeley County, for the second highest rate in the state. Coming in third was Morgan County, where one in every 2,399 housing units received a foreclosure filing in August. Fourth highest was Jefferson County, where one in every 2,795 housing units received a foreclosure filing. Cabell County came in fifth, with one in every 2,900 housing units receiving a foreclosure filing during the month.

 

Berkeley County posts top foreclosure total for August

Berkeley County led West Virginia in total foreclosure activity for August, reporting 20 properties with foreclosure filings. Cabell County documented the second highest foreclosure activity, where 16 properties with foreclosure filings were reported. Wood County came in third, tallying 14 properties with foreclosure filings. Fourth highest was Kanawha County, where 12 properties with foreclosure filings were reported. Jefferson County came in fifth, reporting eight properties with foreclosure filings for the month.

 

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

West Virginia 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.

 

 

West Virginia 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

West Virginia

0

0

17

0

110

127

6,980

0.50

n/a

 

 

 

 

 

 

 

 

 

 

Lewis

0

0

2

0

2

4

2,041

0.19

3.42

Berkeley

0

0

0

0

20

20

2,200

0.17

3.17

Morgan

0

0

0

0

4

4

2,399

0.16

2.91

Jefferson

0

0

2

0

6

8

2,795

0.14

2.50

Cabell

0

0

0

0

16

16

2,900

0.13

2.41

 

 

West Virginia 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

West Virginia

0

0

17

0

110

127

6,980

47.67

-11.19

 

 

 

 

 

 

 

 

 

 

Berkeley

0

0

0

0

20

20

2,200

53.85

-4.76

Cabell

0

0

0

0

16

16

2,900

45.45

6.67

Wood

0

0

1

0

13

14

2,923

7.69

100.00

Kanawha

0

0

1

0

11

12

7,930

-29.41

-25.00

Jefferson

0

0

2

0

6

8

2,795

100.00

-55.56

 

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