West Virginia Foreclosure Activity Up 14 Percent in November

Statewide foreclosure filings up 235 percent from November 2008

 

West Virginia foreclosure activity rose for the month of November to 114 properties with foreclosure filings, up 14 percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  The monthly total is 235 percent ahead of the level reported in November 2008.

 

“West Virginia reported another increase in foreclosure filings in November, bringing activity to more than triple the level reported for this time last year,” 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 such a marked increase over the past few months, the state is still fairing much better than most of the nation.”

 

One in every 7,743 West Virginia housing units received a foreclosure filing in November, the 49th highest foreclosure rate in the nation.

 

Wood County posts state’s top foreclosure rate and total in November

Wood County posted the highest county foreclosure rate in the state for November, with one in every 1,945 housing units receiving a foreclosure filing — four times the state average. Jefferson County had the second highest foreclosure rate, with one in every 1,966 housing units receiving a foreclosure filing — 3.9 times the state average. Berkeley County came in third highest, with one in every 2,144 housing units receiving a foreclosure filing — 3.6 times the state average.

 

Wood County led state in total foreclosure filings for November

Wood County also led all counties in foreclosure totals, documenting 21 properties with foreclosure filings for the month. Berkeley County had the second highest number of foreclosures, documenting 20 properties with foreclosure filings. Reporting 11 properties with foreclosure filings for the month, Jefferson County had the third highest total in the state, while Cabell County was fourth highest, reporting eight properties with foreclosure filings for the month.

 

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

West Virginia accounted for less than 1 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 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 – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

West Virginia

0

0

9

0

105

114

7,743

0.05

n/a

 

 

 

 

 

 

 

 

 

 

Wood

0

0

1

0

20

21

1,945

0.21

3.98

Jefferson

0

0

2

0

9

11

1,966

0.21

3.94

Berkeley

0

0

0

0

20

20

2,144

0.19

3.61

Pocahontas

0

0

0

0

3

3

2,632

0.16

2.94

Morgan

0

0

1

0

2

3

3,165

0.13

2.45

 

 

West Virginia Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

West Virginia

0

0

9

0

105

114

7,743

14.00

235.29

 

 

 

 

 

 

 

 

 

 

Wood

0

0

1

0

20

21

1,945

90.91

110.00

Berkeley

0

0

0

0

20

20

2,144

11.11

400.00

Jefferson

0

0

2

0

9

11

1,966

0.00

83.33

Cabell

0

0

0

0

8

8

5,785

-20.00

700.00

Kanawha

0

0

1

0

7

8

11,889

-38.46

166.67

 

 

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