Hawaii Foreclosure Activity Increases in August

Filings increase 75 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,629 Hawaii properties in August, a 75 percent increase from the previous month and an 87 percent increase from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

Hawaii foreclosures were up in August,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in auctions, which rose 142 percent for the month. The state’s home values declined more than twice the national average during the past year. This has likely contributed to the recent rise.”

 

Hawaii ranked 32nd in the nation in total foreclosures reported for the month. Its foreclosure rate of one in every 315 housing units receiving a foreclosure filing during the month, ranked it 10th among the 50 states.

 

Maui County dominates the state in foreclosure rate for August

Foreclosure rates for August were led by Maui County, where one in every 187 housing units received a foreclosure filing during the month. One in every 205 housing units received a foreclosure filing in Hawaii County, for the second highest rate in the state. Coming in third was Kauai County, where one in every 342 housing units received a foreclosure filing in August. Fourth highest was Honolulu County where one in every 421 housing units received a foreclosure filing.

 

Honolulu County posts top foreclosure total for August

Honolulu County led Hawaii in total foreclosure activity for August, reporting 800 properties with foreclosure filings. Hawaii County documented the Second highest foreclosure activity, where 389 properties with foreclosure filings were reported. Maui County came in third, tallying 353 properties with foreclosure filings. Fourth highest was Kauai County, where 87 properties with foreclosure filings were reported.

 

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

Hawaii accounted for less than 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.

 

 

Hawaii 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

Hawaii

57

0

1,099

0

473

1,629

315

1.21

n/a

 

 

 

 

 

 

 

 

 

 

Maui

12

0

201

0

140

353

187

2.03

1.68

Hawaii

7

0

231

0

151

389

205

1.86

1.54

Kauai

4

0

45

0

38

87

342

1.11

0.92

Honolulu

34

0

622

0

144

800

421

0.90

0.75

Kalawao

0

0

0

0

0

0

n/a

0.00

0.00

 

 

Hawaii 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

Hawaii

57

0

1,099

0

473

1,629

315

75.16

87.46

 

 

 

 

 

 

 

 

 

 

Honolulu

34

0

622

0

144

800

421

121.61

164.90

Hawaii

7

0

231

0

151

389

205

86.12

117.32

Maui

12

0

201

0

140

353

187

24.30

100.57

Kauai

4

0

45

0

38

87

342

14.47

-58.96

Kalawao

0

0

0

0

0

0

n/a

n/a

n/a

 

 

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