Iowa Foreclosure Activity Increases in August

Filings increase 5 percent from July

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 630 Iowa properties in August, a 5 percent increase from the previous month but a 13 percent decrease from August 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

Iowa foreclosures were up slightly in August,” said James j. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in auction notices, which climbed 37 percent for the month. While the state’s unemployment rate remains well below the national average, it has continued to hover around its peak for months now. This is just one contributing factor to the recent rise in foreclosure activity we are seeing.”

Iowa ranked 39th in the nation in total foreclosures for the month. Its foreclosure rate of one in every 2,110 housing units receiving a foreclosure filing during the month ranked it 42nd among the 50 states.

Polk County dominates the state in foreclosure rate for August

Foreclosure rates for August were led by Polk County, where one in every 669 housing units received a foreclosure filing during the month. One in every 775 housing units received a foreclosure filing in Marion County, for the second highest rate in the state. Coming in third was Scott County, where one in every 971 housing units received a foreclosure filing in August. Fourth highest was Louisa County, where one in every 1,045 housing units received a foreclosure filing. Jasper County came in fifth, with one in every 1,250 housing units receiving a foreclosure filing during the month.

 

State’s top foreclosure total for August posted in Polk County

Polk County led the state in total foreclosure activity for August, reporting 273 properties with foreclosure filings. Second highest was Scott County, where 73 properties with foreclosure filings were reported. Linn County came in third, tallying 71 properties with foreclosure filings. Fourth highest was Marion County, where 18 properties with foreclosure filings were reported. Jasper County came in fifth, reporting 13 properties with foreclosure filings for the month.

 

State a minor contributor to nation’s monthly foreclosure total

Iowa 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.

 

 

Iowa 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

Iowa

0

0

266

0

364

630

2,110

0.18

n/a

 

 

 

 

 

 

 

 

 

 

Polk

0

0

178

0

95

273

669

0.57

3.15

Marion

0

0

0

0

18

18

775

0.49

2.72

Scott

0

0

44

0

29

73

971

0.39

2.17

Louisa

0

0

0

0

5

5

1,045

0.36

2.02

Jasper

0

0

0

0

13

13

1,250

0.30

1.69

 

 

Iowa 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

Iowa

0

0

266

0

364

630

2,110

4.83

-13.10

 

 

 

 

 

 

 

 

 

 

Polk

0

0

178

0

95

273

669

11.43

-6.51

Scott

0

0

44

0

29

73

971

217.39

-28.43

Linn

0

0

42

0

29

71

1,301

-13.41

-38.26

Marion

0

0

0

0

18

18

775

200.00

63.64

Jasper

0

0

0

0

13

13

1,250

-27.78

225.00

 

 

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