Iowa Foreclosures Declines in November

 

Foreclosure filings down 9 percent from October

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,348 Iowa properties in November, down 9 percent from the previous month, but still a 117 percent increase from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

One in every 986 Iowa housing units received a foreclosure filing in November, the 30th highest state foreclosure rate in the nation.

 

“Foreclosure activity in Iowa dropped in November, though it remained more than double what was reported for November 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “At 6.6 percent, unemployment within the state remains well below the national average, which could help the state to keep foreclosures at bay beyond the temporary stall caused by the national foreclosure process investigation spearheaded by Iowa’s Attorney General Tom Miller.”

 

Warren County has top foreclosure rate in November

Warren County posted the highest foreclosure rate in Iowa for November, with one in every 350 housing units receiving a foreclosure filing — 2.8 times the state average. Wapello County had the second highest foreclosure rate, reporting one in every 464 housing units receiving a foreclosure filing — 2.1 times the state average. Jasper County came in third, with one in every 464 housing units receiving a foreclosure filing — 2.1 times the state average.

 

Polk County reports highest foreclosure total in the state

Polk County led the state in foreclosure activity, reporting 367 properties with foreclosure filings. Scott County had the second highest total reporting 130 properties with foreclosure filings. Linn County was third highest, tallying 85 properties with foreclosure filings. Woodbury County reported 79 properties with foreclosure filings for the month, the state’s fourth highest activity level. Pottawattamie County was fifth, reporting 76 properties with foreclosure filings.

 

State a minor contributor to total foreclosure total

Iowa accounted for less than 1 percent of the 262,339 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 21 percent from the previous month, and was down more than 14 percent from the level reported in November 2009. One in every 492 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 – November 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

n/a

n/a

Iowa

0

341

0

556

451

1,348

986

0.50

n/a

 

 

 

 

 

 

 

 

 

 

Warren

0

30

0

9

11

50

350

1.40

2.81

Wapello

0

10

0

22

3

35

464

1.06

2.13

Jasper

0

17

0

5

13

35

464

1.06

2.12

Union

0

0

0

7

5

12

480

1.03

2.06

Washington

0

4

0

4

10

18

496

0.99

1.99

 

 

Iowa Top Foreclosure Totals by County – November 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 10

% Chg Nov 09

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

-21.02

-14.44

Iowa

0

341

0

556

451

1,348

986

-9.16

116.72

 

 

 

 

 

 

 

 

 

 

Polk

0

0

0

284

83

367

498

-14.25

47.39

Scott

0

39

0

72

19

130

545

62.50

160.00

Linn

0

65

0

3

17

85

1,087

-37.96

26.87

Woodbury

0

25

0

28

26

79

533

75.56

243.48

Pottawattamie

0

38

0

2

36

76

514

137.50

35.71

 

 

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