Alabama Foreclosure Activity Falls in August

Filings decrease one percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,910 Alabama properties in August, a one percent decrease from the previous month and a 4 percent decrease from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

“Alabama reported a slight dip in foreclosure filings in August, bringing activity below the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Closely connected to this trend is the state’s rapidly-improving job market. While unemployment remains high at 9.2 percent, it has decreased steadily from 10.6 percent one year earlier, marking the sharpest drop among all 50 states in the past year.”

 

The state reported the 38th highest state foreclosure rate, as one in every 1,130 Alabama housing units received a foreclosure filing during the month.

 

Baldwin County leads the state in foreclosure rate for August

Baldwin County, where one in every 320 housing units received a foreclosure filing during the month, posted the top foreclosure rate in Alabama. One in every 516 housing units received a foreclosure filing in Shelby County, for the second highest rate in the state. Coming in third was Mobile County, where one in every 562 housing units received a foreclosure filing in August. Fourth highest was Jefferson County, where one in every 792 housing units received a foreclosure filing. Saint Clair County came in fifth, with one in every 871 housing units receiving a foreclosure filing during the month.

 

Jefferson County posts top foreclosure total for August

Jefferson County led Alabama in total foreclosure activity for August, reporting 392 properties with foreclosure filings. Baldwin County documented the second highest foreclosure activity, where 324 properties with foreclosure filings were reported. Mobile County came in third, tallying 322 properties with foreclosure filings. Fourth highest was Shelby County, where 153 properties with foreclosure filings were reported. Montgomery County came in fifth, reporting 109 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Alabama accounted for 1 percent of the 338,836 properties with foreclosure filings reported nationwide in August. Total U.S. activity increased by more than 4 percent from the previous month, but was down more than 5 percent from the level reported in August 2009. One in every 381 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: 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.

 

 

Alabama Top Foreclosure Rates By County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

n/a

n/a

Alabama

0

0

956

0

954

1,910

1,130

0.34

n/a

 

 

 

 

 

 

 

 

 

 

Baldwin

0

0

172

0

152

324

320

1.19

3.53

Shelby

0

0

85

0

68

153

516

0.74

2.19

Mobile

0

0

135

0

187

322

562

0.68

2.01

Jefferson

0

0

222

0

170

392

792

0.48

1.43

Saint Clair

0

0

13

0

23

36

871

0.44

1.30

 

 

Alabama Top Foreclosure Totals by County – August 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg June 10

% Chg July 09

 

 

 

 

 

 

 

 

 

 

United States

44,887

51,582

95,887

51,116

95,364

338,836

381

4.18

-5.48

Alabama

0

0

956

0

954

1,910

1,130

-1.09

-3.68

 

 

 

 

 

 

 

 

 

 

Jefferson

0

0

222

0

170

392

792

-34.23

-41.23

Baldwin

0

0

172

0

152

324

320

48.62

42.73

Mobile

0

0

135

0

187

322

562

-13.90

1.90

Shelby

0

0

85

0

68

153

516

5.52

4.79

Montgomery

0

0

37

0

72

109

947

-12.10

-16.15

 

 

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