Kansas Foreclosures Rise in November

Foreclosure filings up 34 percent from October

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 1,538 Kansas properties in November, up 34 percent from the previous month and a 75 percent rise from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

Kansas foreclosures were up in November,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in auctions, which nearly doubled during the month. While the state’s unemployment rate remains relatively low, its home sales declined further than the national average during the third quarter. This has likely contributed to the recent rise.”

 

Kansas ranked 30th in the nation in total foreclosures reported in November. Its foreclosure rate of one in every 798 housing units receiving a foreclosure filing during the month, ranked it 25th among the 50 states.

 

Butler County achieves top foreclosure rate honors in November

Butler County posted the highest foreclosure rate in Kansas for November, with one in every 294 housing units receiving a foreclosure filing — 2.7 times the state average. Wyandotte County reported the second highest foreclosure rate, with one in every 338 housing units receiving a foreclosure filing for the month — 2.4 times the state average. Sedgwick County came in third, with one in every 459 housing units receiving a foreclosure filing — 1.7 state average.

 

Sedgwick County dominates state foreclosure activity in November

Foreclosure activity was heaviest in Sedgwick County, which reported 455 properties with foreclosure filings for the month. Johnson County tallied the second highest foreclosure level, reporting 354 properties with foreclosure filings. Third highest total was in Shawnee County, where 119 properties with foreclosure filings were reported. Fourth highest was Butler County, where 88 properties with foreclosure filings were reported. Douglas County filled out the top five for the month, reporting 55 properties with foreclosure filings.

 

State contributes 1 percent to nation’s foreclosure total

Kansas accounted for 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.

 

Kansas 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

Kansas

0

304

0

686

548

1,538

798

0.62

n/a

 

 

 

 

 

 

 

 

 

 

Butler

0

0

0

15

73

88

294

1.67

2.71

Wyandotte

0

57

0

58

86

201

338

1.46

2.36

Sedgwick

0

63

0

267

125

455

459

1.07

1.74

Miami

0

0

0

15

12

27

467

1.05

1.71

Johnson

0

122

0

126

106

354

613

0.80

1.30

 

 

Kansas 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

Kansas

0

304

0

686

548

1,538

798

33.86

75.17

 

 

 

 

 

 

 

 

 

 

Sedgwick

0

63

0

267

125

455

459

19.42

106.82

Johnson

0

122

0

126

106

354

613

14.19

46.89

Shawnee

0

35

0

38

46

119

667

50.63

20.20

Butler

0

0

0

15

73

88

294

700.00

576.92

Douglas

0

11

0

26

18

55

852

61.76

103.70

 

 

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