Kansas Foreclosure Activity Increases in October

Foreclosure filings up 25 percent from September

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,149 Kansas properties during October, a 25 percent increase from the previous month and up 24 percent from October of 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Kansas foreclosures were up in October,” said James J. Saccacio, chief executive officer of RealtyTrac. The largest increase was in bank-owned properties, which climbed 62 percent for the month. Even so, the state has a lower foreclosure total than most states. Its unemployment remains 3 percent below the national average, and its home values and sales were higher than average earlier this year. If these trends continue, we may see foreclosures come down here in the near future.”

 

Kansas ranked 37th in the nation in total foreclosures reported in October. Its foreclosure rate of one in every 1,068 housing units receiving a foreclosure filing during the month ranked it 37th among the 50 states.

 

Wyandotte County posts state’s top foreclosure rate for October

Wyandotte County posted the highest county foreclosure rate in Kansas for the month, with one in every 289 housing units receiving a foreclosure filing during October — 3.7 times the state average. Sedgwick County registered the second highest foreclosure rate, with one in every 548 housing units receiving a foreclosure filing during the month — 1.9 times the state average. Leavenworth County was third highest, with one in every 631 housing units receiving a foreclosure filing — 1.7 times the state average.

 

Sedgwick County dominates state foreclosure activity in October

Foreclosure activity was heaviest in Sedgwick County, which reported 381 properties with foreclosure filings for the month. Johnson County tallied the second highest foreclosure level, reporting 310 properties with foreclosure filings. Third highest total was in Wyandotte County, where 235 properties with foreclosure filings were reported. Fourth highest was Shawnee County, where 79 properties with foreclosure filings were reported. Leavenworth County filled out the top five for the month, reporting 45 properties with foreclosure filings.

 

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

Kansas accounted for less than 1 percent of the 332,172 properties with foreclosure filings reported nationwide in October. Total U.S. activity decreased by more than 4 percent from the previous month, and was down fractionally from the level reported in October 2009. One in every 389 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.

 

Kansas Top Foreclosure Rates By County – October 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

43,271

57,304

92,989

45,372

93,236

332,172

389

n/a

n/a

Kansas

0

182

0

353

614

1,149

1,068

0.36

n/a

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

53

0

95

87

235

289

1.35

3.70

Sedgwick

0

36

0

58

287

381

548

0.71

1.95

Leavenworth

0

15

0

25

5

45

631

0.62

1.69

Johnson

0

58

0

104

148

310

700

0.56

1.53

Shawnee

0

10

0

36

33

79

1,004

0.39

1.06

 

 

Kansas Top Foreclosure Totals by County – October 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Sept 10

% Chg Oct 09

 

 

 

 

 

 

 

 

 

 

United States

43,271

57,304

92,989

45,372

93,236

332,172

389

-4.39

-0.04

Kansas

0

182

0

353

614

1,149

1,068

25.16

23.68

 

 

 

 

 

 

 

 

 

 

Sedgwick

0

36

0

58

287

381

548

495.31

370.37

Johnson

0

58

0

104

148

310

700

-25.66

-17.55

Wyandotte

0

53

0

95

87

235

289

19.90

21.76

Shawnee

0

10

0

36

33

79

1,004

-45.14

-37.80

Leavenworth

0

15

0

25

5

45

631

104.55

-11.76

 

           

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