Wisconsin Foreclosure Activity Down Slightly in November

Statewide filings down less than 1 percent from October; up 118 from previous year

 

Wisconsin foreclosure activity fell in November to 4,294 properties with foreclosure filings, down less than one percent from the previous month, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  The monthly total is 118 percent ahead of the level reported in November 2008.

 

“Wisconsin foreclosures fell slightly in November,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decrease was in bank-owned properties, which dropped 25 percent for the month. The state’s unemployment rate also went down during the month and home sales are beginning to pick up. If these trends continue, we may see foreclosures continue to decline here in the near future.”

 

Wisconsin ranked 15th in the country in total foreclosures reported for the month. With one in every 596 housing units receiving a foreclosure filing, its foreclosure rate ranked 16th among the 50 states.

 

Kenosha County post state’s highest foreclosure rate in November

Kenosha County posted the highest county foreclosure rate in the state for November, with one in every 256 housing units receiving a foreclosure filing — 2.3 times the state average. Milwaukee County had the second highest rate, with one in every 331 housing units receiving a foreclosure filing — 1.8 times the state average. Polk County came in third highest, with one in every 338 housing units receiving a foreclosure filing — 1.8 times the state average.

 

Milwaukee County led state in total foreclosure filings for November

Milwaukee County led all counties, totaling 1,240 properties with foreclosure filings for the month. Dane County was second highest once again, documenting 271 properties with foreclosure filings. Reporting 263 properties with foreclosure filings for the month, Kenosha County had the third highest total in the state, while Brown County was fourth highest, reporting 231 properties with foreclosure filings for the month.

 

State contributed 1 percent to nation’s foreclosure total in November

Wisconsin accounted for 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: 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 – 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

Wisconsin

0

2,062

0

1,354

878

4,294

596

0.70

n/a

 

 

 

 

 

 

 

 

 

 

Kenosha

0

96

0

124

43

263

256

1.63

2.32

Milwaukee

0

641

0

330

269

1,240

331

1.26

1.80

Polk

0

26

0

33

13

72

338

1.23

1.76

Columbia

0

39

0

19

9

67

377

1.11

1.58

Rock

0

88

0

29

59

176

388

1.08

1.54

 

 

 

Wisconsin 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

Wisconsin

0

2,062

0

1,354

878

4,294

596

-0.39

118.30

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

641

0

330

269

1,240

331

1.26

1.80

Dane

0

128

0

87

56

271

778

0.54

0.77

Kenosha

0

96

0

124

43

263

256

1.63

2.32

Brown

0

83

0

112

36

231

444

0.94

1.34

Racine

0

108

0

56

40

204

397

1.05

1.50

 

 

 

 

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