Kansas Foreclosure Activity Down in Third Quarter

Total foreclosure filings fell 6 percent compared to the second quarter

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,804 Kansas properties during the third quarter, a 6 percent decrease from the previous quarter and down 18 percent from the third quarter of 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

For September, Kansas reported 918 properties with foreclosure filings, a 25 percent decrease from the previous month and 28 percent below the level reported for the same month last year. One in every 1,336 Kansas housing units received a foreclosure filing in September, the 40th highest foreclosure rate among the 50 states.

 

“Foreclosure activity declined in Kansas in the third quarter of 2010, with fewer filings reported than in the previous quarter and for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment within the state also remained relatively steady at around 7 percent over the quarter, possibly leading up to the slow-but-steady economic turnaround some struggling residents are hoping for.”

 

One in every 438 Kansas housing units received a foreclosure filing during the quarter, the 39th highest state foreclosure rate in the nation.

 

Wyandotte County led state with top foreclosure rate in third quarter

Wyandotte County posted the highest foreclosure rate in Kansas during the third quarter of 2010, where one in every 109 housing units received a foreclosure filing — four times the state average. Johnson County posted the second highest foreclosure rate, where one in every 238 housing units received a foreclosure filing during the period — 1.8 times the state average. Shawnee County documented the third highest foreclosure rate, where one in every 246 housing units received a foreclosure filing — 1.8 times the state average.

 

Johnson County posts state’s top foreclosure total in third quarter

Johnson County led the state, reporting 911 properties with foreclosure filings for the quarter. Wyandotte County was second, reporting 622 properties with foreclosure filings. Sedgwick County was third, tallying 510 properties with foreclosure filings. Shawnee County was fourth highest, reporting 322 properties with foreclosure filings. Douglas County had the fifth highest total, reporting 92 properties with foreclosure filings for the quarter.

 

State a minor contributor to nation’s foreclosure total for the quarter

Less than 1 percent of 930,437 properties with foreclosure filings reported nationwide during the third quarter were located in Kansas. Total U.S. activity increased nearly 4 percent from the second quarter, but was down fractionally from the level reported for the third quarter 2009. One in every 139 U.S. housing units received a foreclosure filing during the quarter.

 

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.

 

 

Kansas Top Foreclosure Rates By County – Third Quarter 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

116,349

153,298

243,869

128,576

288,345

930,437

139

n/a

n/a

Kansas

0

456

0

933

1,415

2,804

438

0.32

n/a

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

123

0

230

269

622

109

1.27

4.01

Johnson

0

193

0

282

436

911

238

0.58

1.84

Shawnee

0

64

0

135

123

322

246

0.56

1.78

Miami

0

0

0

1

38

39

324

0.43

1.35

Leavenworth

0

8

0

27

50

85

334

0.41

1.31

 

 

Kansas Top Foreclosure Totals by County – Third Quarter 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 10

% Chg Q3 09

 

 

 

 

 

 

 

 

 

 

United States

116,349

153,298

243,869

128,576

288,345

930,437

139

3.90

-0.79

Kansas

0

456

0

933

1,415

2,804

438

-5.65

-17.58

 

 

 

 

 

 

 

 

 

 

Johnson

0

193

0

282

436

911

238

-12.15

-14.46

Wyandotte

0

123

0

230

269

622

109

-26.04

-30.27

Sedgwick

0

52

0

176

282

510

410

21.72

-36.80

Shawnee

0

64

0

135

123

322

246

5.92

10.27

Douglas

0

12

0

43

37

92

509

43.75

24.32

 

 

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