IOWA FORECLOSURES INCREASE 22 PERCENT IN NOVEMBER

State’s Activity Level Up 88 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Iowa reported 497 properties entering some stage of the foreclosure process in November, a 22 percent increase from the 407 properties reported in October, and an 88 percent gain from the 264 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 700,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Despite the continued strengthening in its economy, Iowa’s foreclosure rate continues to rise,” said James J. Saccacio, chief executive officer of RealtyTrac. “Rising energy prices and higher interest rates could push a growing number of distressed homeowners into foreclosure.”   

 

Iowa ranked 31nd in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 2,480 households — 0.39 times the national average — places it 28th among the 50 states.

 

Polk and Linn counties lead state in activity

Two counties accounted for 60 percent of all foreclosure activity in Iowa for November. Polk County led the state reporting 212 properties entering some stage of the foreclosure process during the month. Linn County registered the second highest total, reporting 85 properties in some stage of the foreclosure process for the month, followed by Scott County reporting the third highest total with 80 properties entering some stage of the foreclosure process.

 

Polk County posts state’s top foreclosure rate

Polk County posted the top foreclosure rate in the state for November, reporting one new foreclosure filing for every 738 households — 3.4 times the state average and 1.3 times the national average. Next highest was Scott County reporting one new foreclosure filing for every 821 households — 3.0 times the state average and 1.2 times the national average. The third highest rate in the state was found in Linn County, which reported one new foreclosure filing for every 948 households — 2.6 times the state average and 1.0 times the national average.

 

State total has little impact on national total

Iowa’s foreclosure activity accounted for less than 1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

                           Iowa Foreclosure Market by County – November 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Iowa

16

256

0

0

225

497

2,480

0.38

n/a

 

 

 

 

 

 

 

 

 

 

Adair

0

1

0

0

0

1

3,690

0.26

0.67

Benton

0

1

0

0

0

1

10,377

0.09

0.23

Black Hawk

0

0

0

0

0

0

n/a

0.00

0.00

Boone

0

0

0

0

0

0

n/a

0.00

0.00

Bremer

0

0

0

0

0

0

n/a

0.00

0.00

Buchanan

0

0

0

0

0

0

n/a

0.00

0.00

Cass

0

0

0

0

0

0

n/a

0.00

0.00

Cedar

0

1

0

0

1

2

3,785

0.25

0.65

Cerro Gordo

0

0

0

0

3

3

7,163

0.13

0.34

Cherokee

1

0

0

0

1

2

2,925

0.32

0.84

Chickasaw

0

0

0

0

1

1

5,593

0.17

0.44

Clinton

0

0

0

0

0

0

n/a

0.00

0.00

Dallas

0

0

0

0

5

5

3,306

0.29

0.75

Delaware

0

0

0

0

2

2

3,841

0.25

0.64

Des Moines

0

1

0

0

0

1

18,643

0.05

0.13

Dubuque

0

2

0

0

4

6

5,918

0.16

0.41

Fayette

0

0

0

0

0

0

n/a

0.00

0.00

Floyd

0

1

0

0

0

1

7,317

0.13

0.33

Fremont

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

1

0

0

1

2

2,312

0.41

1.07

Harrison

0

0

0

0

0

0

n/a

0.00

0.00

Henry

0

0

0

0

2

2

4,123

0.23

0.60

Johnson

0

11

0

0

0

11

4,166

0.23

0.59

Jones

1

0

0

0

0

1

8,126

0.11

0.30

Keokuk

0

1

0

0

0

1

5,013

0.19

0.49

Lee

0

0

0

0

0

0

n/a

0.00

0.00

Linn

3

46

0

0

36

85

948

1.01

2.61

Louisa

0

1

0

0

0

1

5,133

0.18

0.48

Lyon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Marion

0

0

0

0

1

1

12,755

0.07

0.19

Marshall

0

0

0

0

0

0

n/a

0.00

0.00

Mills

0

0

0

0

0

0

n/a

0.00

0.00

Monroe

0

1

0

0

1

2

1,794

0.53

1.38

Muscatine

0

0

0

0

3

3

5,595

0.17

0.44

Page

0

0

0

0

0

0

n/a

0.00

0.00

Palo Alto

0

1

0

0

0

1

4,631

0.20

0.53

Plymouth

0

0

0

0

1

1

9,880

0.09

0.25

Polk

2

94

0

0

116

212

738

1.30

3.36

Pottawattamie

4

11

0

0

0

15

2,384

0.40

1.04

Poweshiek

0

0

0

0

0

0

n/a

0.00

0.00

Scott

3

46

0

0

31

80

821

1.17

3.02

Shelby

0

0

0

0

2

2

2,730

0.35

0.90

Story

0

0

0

0

0

0

n/a

0.00

0.00

Tama

0

0

0

0

0

0

n/a

0.00

0.00

Union

0

0

0

0

1

1

5,657

0.17

0.43

Wapello

0

0

0

0

2

2

7,937

0.12

0.31

Warren

0

0

0

0

4

4

3,822

0.25

0.64

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Webster

1

0

0

0

5

6

2,828

0.34

0.87

Woodbury

1

36

0

0

2

39

1,061

0.90

2.33

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal. For more information, visit www.realtytrac.com.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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