Arkansas Foreclosure Activity Falls in August

Filings decrease 3 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,919 Arkansas properties in August, a 3 percent decrease from the previous month, but a one percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

“Arkansas reported a slight drop in foreclosure filings in August, though activity remained 1 percent above the level reported for this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state jumped to 7.5 percent during the month, marking its first increase in five months and likely causing some homeowners concern about what the coming months will bring.”

 

The state reported the 26th highest state foreclosure rate, as one in every 676 Arkansas housing units received a foreclosure filing during the month.

 

Washington County leads the state in foreclosure rate for August

Washington County, where one in every 224 housing units received a foreclosure filing during the month, posted the top foreclosure rate in Arkansas. One in every 227 housing units received a foreclosure filing in Benton County, for the second highest rate in the state. Coming in third was Lonoke County, where one in every 364 housing units received a foreclosure filing in August. Fourth highest was Craighead County, where one in every 494 housing units received a foreclosure filing. Pulaski County came in fifth, with one in every 494 housing units receiving a foreclosure filing during the month.

 

Benton County posts top foreclosure total for August

Benton County led the state in total foreclosure activity for August, reporting 381 properties with foreclosure filings. Washington County documented the second highest foreclosure activity, where 373 properties with foreclosure filings were reported. Pulaski County came in third, tallying 329 properties with foreclosure filings. Fourth highest was Sebastian County, where 83 properties with foreclosure filings were reported. Craighead County came in fifth, reporting 80 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Arkansas 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.

 

 

Arkansas 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

Arkansas

153

0

1,126

0

640

1,919

676

0.56

n/a

 

 

 

 

 

 

 

 

 

 

Washington

82

0

172

0

119

373

224

1.70

3.02

Benton

28

0

198

0

155

381

227

1.68

2.98

Lonoke

2

0

47

0

22

71

364

1.05

1.86

Craighead

8

0

52

0

20

80

494

0.77

1.37

Pulaski

11

0

218

0

100

329

535

0.71

1.26

 

 

Arkansas 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

Arkansas

153

0

1,126

0

640

1,919

676

-2.79

1.00

 

 

 

 

 

 

 

 

 

 

Benton

28

0

198

0

155

381

227

-8.85

-10.56

Washington

82

0

172

0

119

373

224

8.12

25.59

Pulaski

11

0

218

0

100

329

535

-7.84

11.53

Sebastian

8

0

45

0

30

83

643

18.57

33.87

Craighead

8

0

52

0

20

80

494

-5.88

50.94

 

 

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