Wisconsin Continues to Report Rising Foreclosure Activity in August

Foreclosure activity in Wisconsin rose 4 percent in August to 3,965 properties with foreclosure filings, up 78 percent from the level reported in August 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure activity increased slightly in Wisconsin in August, though that relatively minor increase brought the state’s level of activity to nearly double what was reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state has improved over the past three months, though it may take many months of economic improvement before we see benefits in terms of fewer foreclosures.”

 

One in every 646 Wisconsin housing units received a foreclosure filing in August, the 22nd highest foreclosure rate in the nation.

 

Milwaukee County tops state in both foreclosure total and rate for August

Milwaukee County posted the highest county foreclosure rate in the state for August, with one in every 347 housing units receiving a foreclosure filing — on par with the national average and 1.9 times the state average. Milwaukee County also tallied the highest activity level, tallying 1,183 properties with foreclosure filings for the month.

 

Columbia County had the second highest foreclosure rate, with one in every 366 housing units receiving a foreclosure filing during the month — on par with the national average and 1.8 times the state average. Sheboygan County posted the third highest foreclosure rate, where one in every 435 housing units received a foreclosure filing — 1.5 times the state average.

 

Dane County had the second highest total of foreclosure filings, documenting 253 properties with foreclosure filings. Reporting 224 properties with foreclosure filings for the month, Brown County reported the third highest total in the state. Waukesha County was fourth highest, reporting 206 properties with foreclosure filings, while the fifth highest total was in Racine County, where 167 properties with foreclosure filings were reported for the month.

 

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

Wisconsin accounted for 1 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.

 

 

Wisconsin 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

Wisconsin

1

2,123

0

1,017

824

3,965

646

0.55

n/a

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

605

0

404

174

1,183

347

1.03

1.86

Columbia

0

45

0

11

13

69

366

0.97

1.76

Sheboygan

0

48

0

47

20

115

435

0.82

1.49

Kenosha

0

113

0

1

37

151

447

0.80

1.45

Dodge

0

42

0

24

15

81

452

0.79

1.43

 

 

Wisconsin 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

Wisconsin

1

2,123

0

1,017

824

3,965

646

3.88

78.12

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

605

0

404

174

1,183

347

6.48

5.34

Dane

0

148

0

38

67

253

833

17.13

60.13

Brown

0

100

0

80

44

224

457

24.44

94.78

Waukesha

0

131

0

38

37

206

757

9.57

119.15

Racine

0

111

0

10

46

167

484

-25.11

-14.80

 

 

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