WYOMING FORECLOSURE ACTIVITY UP 90 PERCENT IN 2008

More than 600 Properties Receive Foreclosure Filings in 2008

 

IRVINE, Calif. – Jan. 28, 2009 – Foreclosure filings were reported on 677 Wyoming properties in 2008, an increase of 90 percent from 2007 and an increase of 165 percent from 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The Cowboy State reported 80 properties with foreclosure filings in December, a 20 percent decrease from the previous month, but still an 82 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.

 

“Although Wyoming foreclosures nearly doubled in 2008, the numbers are among the lowest in the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state continued to hold one of the lowest unemployment rates during the year despite record rises throughout the country. Home values throughout Wyoming also avoided the same level of decline seen in most states. These factors are helping the state to weather the foreclosure crisis gripping most of the country.”

 

Wyoming ranked 47th in the country in total foreclosures reported for the year. With one in every 353 housing units receiving a foreclosure filing, its foreclosure rate ranked 45th among the 50 states.

 

Top five counties responsible for bulk of state’s foreclosure activity

Five Wyoming counties accounted for 98 percent of all foreclosure activity in the state for 2008. Laramie County led all others, reporting 373 properties with foreclosure filings for the year. Natrona County came in second, reporting 187 properties with foreclosure filings. Campbell County registered the third highest total, reporting 55 properties with foreclosure filings. Sweetwater County documented the fourth highest foreclosure total, reporting 35 properties with foreclosure filings. Park County came in fifth, documenting 16 properties with foreclosure filings.

 

Laramie County posts top foreclosure rate for 2008

Three Wyoming counties led the state in foreclosure rate for 2008. Laramie County topped the list, with 0.99 percent of its housing units receiving at least one foreclosure filing during the year. Natrona County came in second, with 0.60 percent of its housing units receiving at least one foreclosure filing. Campbell County posted the third highest foreclosure rate, where 0.38 percent of the housing stock received at least one foreclosure filing in 2008.

 

State contributes less than 1 percent to nation’s foreclosure total for 2008

Wyoming accounted for less than 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.

 

               Wyoming 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

Wyoming

677

0.28

90.17

 

 

 

 

 

12

Albany

1

0.01

-80.00

13

Big Horn

0

0.00

-100.00

3

Campbell

55

0.38

1275.00

13

Carbon

0

0.00

n/a

6

Converse

4

0.07

100.00

13

Crook

0

0.00

n/a

10

Fremont

2

0.01

-50.00

9

Goshen

1

0.02

-66.67

13

Hot Springs

0

0.00

n/a

13

Johnson

0

0.00

n/a

1

Laramie

373

0.99

64.32

13

Lincoln

0

0.00

-100.00

2

Natrona

187

0.60

87.00

13

Niobrara

0

0.00

n/a

5

Park

16

0.12

1500.00

8

Platte

1

0.02

-50.00

13

Sheridan

0

0.00

n/a

13

Sublette

0

0.00

n/a

4

Sweetwater

35

0.21

775.00

13

Teton

0

0.00

n/a

11

Uinta

1

0.01

n/a

13

Washakie

0

0.00

n/a

7

Weston

1

0.03

n/a

 

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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