Louisiana Foreclosure Activity Down in Third Quarter

Filings down 9 percent from Q2 2011, down 2 percent from a year ago

Foreclosure filings — default  notices, scheduled auctions and bank repossessions — were reported on 5,139 Louisiana properties  during the third quarter of 2011, down 9 percent from the second quarter of  2011 and 2 percent below the level reported for the same quarter last year, according to the latest RealtyTrac® U.S.  Foreclosure Market Report.

One in every 382 Louisiana housing units had a foreclosure  filing during the quarter, the 29th highest state foreclosure rate  in the nation.

Foreclosure filings were reported  on 2,064 Louisiana  properties in September, a 10 percent increase from  August and up 2 percent from September 2010. One in every 951 Louisiana housing units had a foreclosure  filing in September, the 23rd highest state foreclosure rate in the  nation.

Saint Tammany Parish has top  foreclosure rate in the third quarter
  One in every 139 housing units in Saint  Tammany Parish had a foreclosure filing during the third quarter of 2011 — 1.5  times the national average and 2.7 times the state average. Livingston Parish  had the second highest rate with one in every 192 housing units reporting a  foreclosure filing — 1.1 times the national average and twice the state  average. Calcasieu Parish had the third highest rate, reporting one in every  218 housing units with a foreclosure filing — on par with the national average  and 1.8 times the state average.

Jefferson Parish  leads the state in foreclosure activity for third quarter
  Jefferson Parish led all counties in total  foreclosure activity, reporting 831 properties with foreclosure filings during  the quarter. Saint Tammany Parish was second highest, reporting 702 properties  with foreclosure filings. Third highest total was tallied in East Baton Rouge  Parish, where 688 properties with foreclosure filings were reported. Reporting  541 properties with foreclosure filings for the quarter, Orleans Parish  registered the fourth highest total in the state. Fifth highest was Calcasieu  Parish, where 384 properties with foreclosure filings were reported for the  quarter.

State a minor contributor to  nation’s foreclosure total in the third quarter
  Louisiana accounted for 1 percent of the 610,337 properties  with foreclosure filings reported nationwide for the third quarter of 2011.  Total U.S.  activity was up slightly from the second quarter of 2011, but was down 34  percent from the level reported for the same quarter in 2010. One in every 213 U.S. housing  units received a foreclosure filing during the quarter.

“U.S.  foreclosure activity has been mired down since October of last year, when  the robo-signing controversy sparked a flurry  of investigations into lender foreclosure procedures and paperwork,” said  James Saccacio, chief executive  officer of RealtyTrac. “While foreclosure  activity in September and the third quarter continued to register well below levels  from a year ago, there is evidence  that this temporary downward trend is about to  change direction, with foreclosure activity slowly beginning to ramp back  up.”
  “Third quarter foreclosure activity increased marginally from the previous quarter, breaking a  trend of three consecutive quarterly  decreases that started in the fourth quarter of 2010,” Saccacio continued. “This marginal increase in overall  foreclosure activity was fueled by  a 14 percent jump in new default notices, indicating that lenders are cautiously throwing more wood into the  foreclosure fireplace after spending months trying  to clear the chimney of sloppily filed foreclosures.”

 

                               Louisiana Top Foreclosure Rates By Parish – Q3 2011

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

94,849

101,029

163,962

53,967

196,530

610,337

213

n/a

n/a

Louisiana

0

826

0

2,293

2,020

5,139

382

0.56

n/a

 

 

 

 

 

 

 

 

 

 

Saint Tammany

0

63

0

446

193

702

139

1.53

2.74

Livingston

0

63

0

87

98

248

192

1.11

1.99

Calcasieu

0

46

0

189

149

384

218

0.98

1.75

Jefferson

0

373

0

89

369

831

219

0.97

1.75

Tangipahoa

0

43

0

85

61

189

273

0.78

1.40

           Louisiana Top Foreclosure Totals by Parish – Q3 2011

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 11

% Chg Q3 10

 

 

 

 

 

 

 

 

 

 

United States

94,849

101,029

163,962

53,967

196,530

610,337

213

0.35

-34.40

Louisiana

0

826

0

2,293

2,020

5,139

382

-8.66

-2.47

 

 

 

 

 

 

 

 

 

 

Jefferson

0

373

0

89

369

831

219

-14.51

-17.23

Saint Tammany

0

63

0

446

193

702

139

-21.65

-14.18

East Baton Rouge

0

2

0

406

280

688

277

-4.84

-3.37

Orleans

0

0

0

232

309

541

310

-11.46

-39.82

Calcasieu

0

46

0

189

149

384

218

65.52

1,500.00

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