WISCONSIN FORECLOSURE ACTIVITY UP 62 PERCENT IN 2008

More than 19,000 Properties Receive Foreclosure Filings in 2008

 

IRVINE, Calif. – Jan. 28, 2009 – Foreclosure filings were reported on 19,695 Wisconsin properties in 2008, an increase of 62 percent from 2007 and an increase of 249 percent from 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The report also shows that 0.78 percent of all Wisconsin housing units received at least one foreclosure filing during the year, up from 0.49 percent in 2007.

 

Wisconsin reported 2,307 properties with foreclosure filings in December, a 17 percent increase from the previous month and a 32 percent increase over December 2007.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 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.

 

“Foreclosure activity increased substantially in Wisconsin from 2007 to 2008 and was more than triple the level seen in 2006,” said James J. Saccacio, chief executive officer of RealtyTrac. “With job losses across multiple sectors, residents of the Badger State struggled to hold onto their homes while seeking new, or at least temporary, employment.”

 

Milwaukee County reports highest total of foreclosure filings

Milwaukee County led the state reporting 9,122 properties with foreclosure filings for the year. Dane County came in second, reporting 1,149 properties with foreclosure filings. Racine County registered the third highest total, reporting 1,090 properties with foreclosure filings. Brown County documented the fourth highest foreclosure total, reporting 935 properties with foreclosure filings. Waukesha County came in fifth, documenting 912 properties with foreclosure filings.

 

Milwaukee County posts top foreclosure rate

Milwaukee County topped the list, with 2.24 percent of its housing units receiving at least one foreclosure filing during the year. Saint Croix County came in second, with 1.85 percent of its housing units receiving at least one foreclosure filing. Third highest was Racine County, where 1.36 percent of the housing stock received at least one foreclosure filing in 2008. Rounding out the state’s top five were Waupaca County (1.22 percent) and Dodge County (1.14 percent).

 

State a minor contributor to nation’s foreclosure total for 2008

Wisconsin accounted for 1 percent of the 2,330,483 properties with foreclosure filings reported nationwide in 2008. The national total represented an increase of more than 81 percent from the total reported for 2007. For the year 1.84 percent of all U.S. housing units received at least one foreclosure filing, up from 1.03 percent in 2007.

 

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 Foreclosure Market Data by County – Yearend 2008

 

Rate Rank

County

Total Properties With Foreclosure Filings

% Housing Units

(Foreclosure Rate)

% Change From 2007

 

 

 

 

 

n/a

United States

2,330,483

1.84

81.24

n/a

Wisconsin

19,695

0.78

62.33

 

 

 

 

 

34

Adams

33

0.21

560.00

32

Ashland

25

0.27

 n/a

24

Barron

114

0.49

2,750.00

70

Bayfield

1

0.01

 n/a

8

Brown

935

0.92

144.76

67

Buffalo

1

0.02

 n/a

17

Burnett

76

0.55

40.74

26

Calumet

71

0.38

5.97

27

Chippewa

94

0.37

1,466.67

39

Clark

24

0.17

242.86

23

Columbia

125

0.50

525.00

38

Crawford

15

0.17

 n/a

18

Dane

1,149

0.55

30.57

5

Dodge

415

1.14

36.96

57

Door

11

0.05

266.67

13

Douglas

139

0.65

3,375.00

55

Dunn

11

0.06

450.00

22

Eau Claire

221

0.54

78.23

72

Florence

0

0.00

-100.00

49

Fond Du Lac

37

0.09

105.56

68

Forest

1

0.01

 n/a

62

Grant

9

0.04

800.00

47

Green

17

0.11

142.86

16

Green Lake

59

0.57

1,375.00

59

Iowa

5

0.05

150.00

54

Iron

4

0.07

 n/a

66

Jackson

3

0.03

200.00

11

Jefferson

224

0.67

-1.75

35

Juneau

24

0.17

1,100.00

45

Kenosha

91

0.14

250.00

25

Kewaunee

43

0.48

 n/a

41

La Crosse

76

0.16

3,700.00

33

Lafayette

17

0.24

750.00

53

Langlade

8

0.07

60.00

52

Lincoln

11

0.07

120.00

21

Manitowoc

198

0.54

12.50

15

Marathon

328

0.59

2.82

31

Marinette

76

0.27

2,433.33

46

Marquette

11

0.12

1,000.00

60

Menominee

1

0.05

 n/a

1

Milwaukee

9,122

2.24

59.28

61

Monroe

8

0.04

100.00

29

Oconto

77

0.34

1,825.00

63

Oneida

12

0.04

300.00

12

Outagamie

462

0.65

-12.99

36

Ozaukee

61

0.17

510.00

43

Pepin

5

0.15

400.00

30

Pierce

46

0.30

170.59

6

Polk

273

1.14

1,086.96

56

Portage

17

0.06

183.33

69

Price

1

0.01

 n/a

3

Racine

1,090

1.36

10.44

51

Richland

6

0.07

500.00

42

Rock

108

0.16

170.00

50

Rusk

6

0.07

 n/a

2

Saint Croix

601

1.85

123.42

7

Sauk

305

1.08

95.51

64

Sawyer

6

0.04

 n/a

19

Shawano

111

0.55

1,133.33

10

Sheboygan

382

0.77

127.38

48

Taylor

8

0.09

700.00

44

Trempealeau

18

0.14

1,700.00

65

Vernon

5

0.04

400.00

71

Vilas

1

0.00

-66.67

28

Walworth

178

0.36

2,125.00

58

Washburn

6

0.05

20.00

40

Washington

86

0.16

43.33

14

Waukesha

912

0.59

23.74

4

Waupaca

296

1.22

101.36

20

Waushara

82

0.55

4,000.00

9

Winnebago

645

0.91

19.22

37

Wood

56

0.17

700.00

 

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

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved