WISCONSIN FORECLOSURE ACTIVITY UP 14 PERCENT IN FEBRUARY

Yearly Foreclosure Total Up 146 Percent From February 2007

 

IRVINE, Calif. – March 26, 2008 – Wisconsin reported 2,393 properties with foreclosure filings for February 2008, a 14 percent increase from the previous month, and a 146 percent increase from February 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Wisconsin foreclosures are up both in February and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “A consistently declining home price index and rising unemployment rate may be contributing to the overall increase.”

 

Wisconsin ranked 21st in the country in total foreclosures reported for the month. One in every 1,044 households received a foreclosure filing in February. Wisconsin’s foreclosure rate was ranked 27th among the 50 states.

 

Five counties account for largest share of state total

Five counties accounted for 79 percent of all properties with foreclosure filings in Wisconsin for February. Milwaukee County posted the highest foreclosure total for the month, reporting 1,410 properties with foreclosure filings. Racine County was second, reporting 176 properties with foreclosure filings for the month, followed by Dane County with 131 properties with foreclosure filings. Brown County came in fourth with 95 properties with foreclosure filings and Waukesha County was fifth, reporting 90 properties with foreclosure filings.

 

Milwaukee County posts highest foreclosure rate

Milwaukee County reported the highest foreclosure rate in Wisconsin for February, one in every 287 households receiving a foreclosure filing — 3.6 times the state average. Racine County posted the second highest foreclosure rate, one in every 450 households receiving a foreclosure filing — 2.3 times the state average. Saint Croix County registered the third highest foreclosure rate, one in every 636 households receiving a foreclosure filing — 1.6 times the state average. Dodge County posted the fourth highest foreclosure rate, one in every 750 households receiving a foreclosure filing.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Wisconsin accounted for 1 percent of the 223,651 foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, and is 60 percent above the total reported for February 2007. One in every 557 U.S. households received a foreclosure filing during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

Wisconsin Foreclosure Market by County – February 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

Wisconsin

0

11

553

1,261

568

2,393

1,044

0.53

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

 n/a

0.00

0.00

Ashland

0

0

0

0

0

0

 n/a

0.00

0.00

Barron

0

0

9

0

0

9

2,555

0.22

0.41

Bayfield

0

0

0

0

0

0

 n/a

0.00

0.00

Brown

0

0

51

2

42

95

1,054

0.53

0.99

Buffalo

0

0

0

0

0

0

 n/a

0.00

0.00

Burnett

0

0

0

10

0

10

1,369

0.41

0.76

Calumet

0

0

1

4

2

7

2,603

0.21

0.40

Chippewa

0

0

0

0

0

0

 n/a

0.00

0.00

Clark

0

0

0

0

0

0

 n/a

0.00

0.00

Columbia

0

0

2

0

5

7

3,513

0.16

0.30

Crawford

0

0

0

0

0

0

 n/a

0.00

0.00

Dane

0

0

25

90

16

131

1,545

0.36

0.68

Dodge

0

0

6

35

7

48

750

0.74

1.39

Door

0

0

0

0

0

0

 n/a

0.00

0.00

Douglas

0

0

0

0

0

0

 n/a

0.00

0.00

Dunn

0

0

0

0

0

0

 n/a

0.00

0.00

Eau Claire

0

0

19

0

0

19

2,143

0.26

0.49

Florence

0

0

0

0

0

0

 n/a

0.00

0.00

Fond Du Lac

0

0

0

0

0

0

 n/a

0.00

0.00

Forest

0

0

0

0

0

0

 n/a

0.00

0.00

Grant

0

0

0

0

0

0

 n/a

0.00

0.00

Green

0

0

0

0

0

0

 n/a

0.00

0.00

Green Lake

0

0

7

0

0

7

1,460

0.38

0.72

Iowa

0

0

0

0

0

0

 n/a

0.00

0.00

Iron

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

1

0

0

0

1

8,635

0.06

0.12

Jefferson

0

0

0

28

8

36

909

0.61

1.15

Juneau

0

0

1

0

0

1

13,443

0.04

0.08

Kenosha

0

1

2

0

0

3

21,856

0.03

0.05

Kewaunee

0

0

4

1

0

5

1,773

0.31

0.59

La Crosse

0

0

0

1

0

1

46,250

0.01

0.02

Lafayette

0

0

0

0

0

0

 n/a

0.00

0.00

Langlade

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

0

1

0

0

1

15,728

0.04

0.07

Manitowoc

0

0

0

10

5

15

2,419

0.23

0.43

Marathon

0

1

0

37

16

54

1,028

0.54

1.02

Marinette

0

0

1

0

0

1

27,631

0.02

0.04

Marquette

0

0

0

0

0

0

 n/a

0.00

0.00

Menominee

0

0

0

0

0

0

 n/a

0.00

0.00

Milwaukee

0

4

304

724

378

1,410

287

1.94

3.64

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Oconto

0

0

0

0

0

0

 n/a

0.00

0.00

Oneida

0

0

1

0

0

1

28,790

0.02

0.04

Outagamie

0

0

1

52

11

64

1,084

0.51

0.96

Ozaukee

0

0

0

1

0

1

34,556

0.02

0.03

Pepin

0

0

0

0

0

0

 n/a

0.00

0.00

Pierce

0

1

0

1

0

2

7,624

0.07

0.14

Polk

0

0

3

2

0

5

4,692

0.12

0.22

Portage

0

0

0

0

0

0

 n/a

0.00

0.00

Price

0

0

0

0

0

0

 n/a

0.00

0.00

Racine

0

1

26

121

28

176

450

1.24

2.32

Richland

0

0

0

0

0

0

 n/a

0.00

0.00

Rock

0

1

4

1

1

7

9,521

0.06

0.11

Rusk

0

0

0

0

0

0

 n/a

0.00

0.00

Saint Croix

0

0

25

1

23

49

636

0.88

1.64

Sauk

0

0

6

22

1

29

941

0.59

1.11

Sawyer

0

0

0

1

0

1

15,203

0.04

0.07

Shawano

0

1

4

0

0

5

3,907

0.14

0.27

Sheboygan

0

0

14

0

1

15

3,255

0.17

0.32

Taylor

0

0

0

0

0

0

 n/a

0.00

0.00

Trempealeau

0

0

1

0

0

1

12,159

0.05

0.09

Vernon

0

0

0

0

0

0

 n/a

0.00

0.00

Vilas

0

0

0

0

0

0

 n/a

0.00

0.00

Walworth

0

0

0

0

0

0

 n/a

0.00

0.00

Washburn

0

0

0

0

0

0

 n/a

0.00

0.00

Washington

0

0

0

1

0

1

50,815

0.01

0.02

Waukesha

0

0

2

79

9

90

1,687

0.33

0.62

Waupaca

0

0

12

5

1

18

1,361

0.41

0.77

Waushara

0

0

4

0

0

4

3,721

0.15

0.28

Winnebago

0

0

17

32

14

63

1,114

0.50

0.94

Wood

0

0

0

0

0

0

 n/a

0.00

0.00

               

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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