Wisconsin Foreclosure Activity Down in January

Statewide filings down 12 percent from December; Up 37 percent from a year ago

 

Foreclosure activity in Wisconsin decreased in January to 3,710 properties with foreclosure filings, a 12 percent decline from December 2009, but still up 37 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Wisconsin foreclosures fell in January,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in auctions, which dropped 42 percent during the month. At 8.3 percent, Wisconsin’s unemployment rate continues to remain well below the national average of 9.7 percent. This is likely helping to drive the recent decline.”

 

Wisconsin ranked 21st in the country in total foreclosures reported for the month. With one in every 693 housing units receiving a foreclosure filing, its foreclosure rate ranked 24th among the 50 states.

 

Kenosha County posts top foreclosure rate in the state for January

Kenosha County posted the state’s highest county foreclosure rate in January, with one in every 318 housing units receiving a foreclosure filing — 2.2 times the state average. Milwaukee County was second, with one in every 324 housing units receiving a foreclosure filing — 2.1 times the state average. Rock County came in third highest, with one in every 332 housing units receiving a foreclosure filing — 2.1 times the state average. Fourth highest rate was in Racine County, where one in every 390 housing units received a foreclosure filing during the month — 1.8 times the state average. The fifth highest total was reported in Brown County, where one in every 510 housing units received a foreclosure filing during the month — 1.4 times the state average.

 

Milwaukee County dominates state in total foreclosure filings for January

Milwaukee County led all counties, totaling 1,265 properties with foreclosure filings for the month. Kenosha County was second highest, documenting 213 properties with foreclosure filings. Reporting 209 properties with foreclosure filings for the month, Racine County had the third highest total. Rock County came in fourth highest, reporting 207 properties with foreclosure filings, followed by Brown County where 203 properties with foreclosure filings were reported.

 

State responsible for less than one percent of nation’s foreclosure total in January

Wisconsin accounted for less than one 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: DefaultNotice 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.

 

 

Wisconsin 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

Wisconsin

0

1,850

0

875

985

3,710

693

0.59

n/a

 

 

 

 

 

 

 

 

 

 

Kenosha

0

100

0

72

41

213

318

1.27

2.18

Milwaukee

0

616

0

314

335

1,265

324

1.25

2.14

Rock

0

110

0

52

45

207

332

1.22

2.08

Racine

0

100

0

51

58

209

390

1.04

1.78

Brown

0

96

0

54

53

203

510

0.79

1.36

 

           

 

Wisconsin 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

Wisconsin

0

1,850

0

875

985

3,710

693

-11.65

37.46

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

616

0

314

335

1,265

324

27.14

49.35

Kenosha

0

100

0

72

41

213

318

12.11

1,021.05

Racine

0

100

0

51

58

209

390

-1.88

145.88

Rock

0

110

0

52

45

207

332

-19.46

245.00

Brown

0

96

0

54

53

203

510

15.34

-24.54

 

 

 

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