Wisconsin Foreclosure Activity Up 79 Percent in 2009

Activity up 191 percent from 2007; down 2 percent from November

 

Wisconsin ended 2009 tallying 35,252 properties with foreclosure filings, a 79 percent increase from the total reported for 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The yearly total is 191 percent higher than the level reported for all of 2007.

 

Wisconsin reported 4,199 properties with foreclosure filings, a 2 percent decrease over the previous month, but still up 82 percent from December 2008. The state’s foreclosure rate — one in every 610 housing units received a foreclosure filing — was 20th highest in the nation for the month.

 

“Wisconsin racked up nearly double the number of foreclosure filings in 2009 that it did in 2008 and almost triple what the state reported in 2007,” said James J. Saccacio, chief executive officer of RealtyTrac. “That said, Wisconsin’s foreclosure woes did improve some as the year came to an end, seeing monthly decreases in activity following its spike in September.”

 

With one in every 73 housing units receiving a foreclosure filing, Wisconsin’s foreclosure rate ranked 19th highest in the nation for the year.

 

Milwaukee County posts state’s highest foreclosure rate and total for 2009

Milwaukee County posted the highest county foreclosure rate in Wisconsin for the year, with one in every 42 housing units receiving a foreclosure filing in 2009. Polk County had the second highest foreclosure rate, reporting one in every 45 housing units receiving a foreclosure filing. Kenosha County came in third highest, reporting one in every 46 housing units receiving a foreclosure filing. Rock County was fourth highest with one in every 47 housing units receiving a foreclosure filing. Columbia County had the fifth highest rate, where one in every 51 housing units receiving a foreclosure filing.

 

Milwaukee County also leads state in foreclosure activity in 2009

Milwaukee County also led the state in total foreclosures, reporting 9,800 properties receiving a foreclosure filing. Dane County had the second highest total, documenting 2,282 properties with foreclosure filings. Brown County had the third highest total in the state, reporting 1,976 properties with foreclosure filings for the year. Waukesha County was fourth highest, reporting 1,691 properties with foreclosure filings, followed by Racine County in fifth place, tallying 1,535 properties with foreclosure filings for all of 2009.

 

State a minor contributor to nation’s foreclosure total in 2009

Wisconsin accounted for 1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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: 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 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: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Wisconsin

35,252

1.38

73

78.99

190.55

 

 

 

 

 

 

Milwaukee

9,800

2.39

42

7.43

71.12

Polk

535

2.20

45

95.97

2,226.09

Kenosha

1,452

2.15

46

1,495.60

5,484.62

Rock

1,459

2.14

47

1,250.93

3,547.50

Columbia

492

1.95

51

293.60

2,360.00

 

 

Wisconsin Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Wisconsin

35,252

1.38

73

78.99

190.55

 

 

 

 

 

 

Milwaukee

9,800

2.39

42

7.43

71.12

Dane

2,282

1.08

92

98.61

159.32

Brown

1,976

1.93

52

111.34

417.28

Waukesha

1,691

1.08

92

85.42

129.44

Racine

1,535

1.90

53

40.83

55.52

 

 

Wisconsin Top Foreclosure Rates By County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Wisconsin

0

1,772

0

1,504

923

4,199

610

0.60

n/a

 

 

 

 

 

 

 

 

 

 

Rock

0

93

0

113

51

257

265

1.38

2.30

Jefferson

0

58

0

30

33

121

281

1.30

2.17

Polk

0

30

0

26

18

74

329

1.11

1.86

Kenosha

0

103

0

42

45

190

355

1.03

1.72

Kewaunee

0

10

0

10

5

25

363

1.01

1.68

 

 

Wisconsin Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Wisconsin

0

1,772

0

1,504

923

4,199

610

-2.21

82.01

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

457

0

324

214

995

16

-19.76

2.58

Rock

0

93

0

113

51

257

37

46.02

4,183.33

Dane

0

109

0

58

51

218

107

-19.56

235.38

Racine

0

93

0

68

52

213

61

4.41

238.10

Kenosha

0

103

0

42

45

190

539

-27.76

2,011.11

 

 

 

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