Kansas Foreclosure Activity Up in First Quarter

Filings up 1 percent from Q4 2010, down 12 percent from a year ago

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 3,599 Kansas properties during the first quarter of 2011, up 1 percent from the fourth quarter of 2010, but still 12 percent below the level reported for the same quarter last year, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

The state posted the 29th highest foreclosure rate in the nation, with one in every 343 Kansas housing units receiving a foreclosure filing during the quarter.

 

Foreclosure filings were reported on 1,278 Kansas properties in March, a 23 percent increase from February but down 53 percent from March 2010. One in every 966 Kansas housing units received a foreclosure filing in March, the 29th highest state foreclosure rate in the nation.

 

Wyandotte County reports state’s top foreclosure rate in the first quarter

One in every 109 housing units in Wyandotte County received a foreclosure filing during the first quarter of 2011 — 1.8 times the national average and 3.2 times the state average.  Leavenworth County had the second highest rate, with one in every 179 housing units receiving a foreclosure filing — 1.1 times the national average and 1.9 times the state average. One in every 208 housing units in Johnson County received a foreclosure filing, the third highest foreclosure rate in the state for the quarter — 1.7 times the state average.

 

Johnson County leads the state in foreclosure activity for first quarter

Johnson County led all counties in total foreclosure activity, reporting 1,047 properties with foreclosure filings during the quarter. Sedgwick County was second highest in the state, reporting 911 properties with foreclosure filings. Third highest total was tallied in Wyandotte County, where 624 properties with foreclosure filings were reported. Reporting 286 properties with foreclosure filings for the quarter, Shawnee County registered the fourth highest total in the state. Fifth highest was Leavenworth County, where 160 properties with foreclosure filings were reported for the quarter.

 

State a minor contributor to nation’s foreclosure total in first quarter

Kansas accounted for less than 1 percent of the 681,153 properties with foreclosure filings reported nationwide for the first quarter of 2011. Total U.S. activity decreased almost 15 percent from the fourth quarter of 2010, and was down 27 percent from the level reported for the same quarter in 2010. One in every 191 U.S. housing units received a foreclosure filing during the quarter.

 

“The nation’s housing market continued to languish in the first quarter, even as foreclosure activity fell to a three-year low,” said James J. Saccacio, chief executive officer of RealtyTrac. “Weak demand, declining home prices and the lack of credit availability are weighing heavily on the market, which is still facing the dual threat of a looming shadow inventory of distressed properties and the probability that foreclosure activity will begin to increase again as lenders and servicers gradually work their way through the backlog of thousands of foreclosures that have been delayed due to improperly processed paperwork.”

 

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 – Q1 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

97,901

99,211

216,867

52,128

215,046

681,153

191

n/a

n/a

Kansas

0

849

0

1,191

1,559

3,599

343

0.56

n/a

 

 

 

 

 

 

 

 

 

 

Wyandotte

0

89

0

180

355

624

109

1.75

3.15

Leavenworth

0

10

0

38

112

160

179

1.07

1.92

Johnson

0

428

0

201

418

1,047

208

0.92

1.65

Sedgwick

0

224

0

379

308

911

231

0.82

1.48

Shawnee

0

55

0

128

103

286

279

0.68

1.23

 

 

Kansas Top Foreclosure Totals by County – Q1 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q4 10

% Chg Q1 10

 

 

 

 

 

 

 

 

 

 

United States

97,901

99,211

216,867

52,128

215,046

681,153

191

-14.76

-26.93

Kansas

0

849

0

1,191

1,559

3,599

343

1.44

-12.11

 

 

 

 

 

 

 

 

 

 

Johnson

0

428

0

201

418

1,047

208

31.04

40.92

Sedgwick

0

224

0

379

308

911

231

-16.58

116.90

Wyandotte

0

89

0

180

355

624

109

11.03

-72.13

Shawnee

0

55

0

128

103

286

279

0.00

-12.80

Leavenworth

0

10

0

38

112

160

179

64.95

68.42

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved