Louisiana Foreclosures Decline in January

State foreclosure activity increases 19 percent for month

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,123 Louisiana properties in January, a 19 percent increase from December.

On a year-over-year basis the state’s foreclosure total is 77 percent above the level reported for January 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Louisiana ranked 26th in the nation in total foreclosures reported for January. Its foreclosure rate of one in every 925 housing units receiving a foreclosure filing during the month, ranked it 27th among the 50 states.

Saint Tammany Parish posts state’s top foreclosure rate in January

Saint Tammany Parish posted the highest foreclosure rate of all Louisiana parishes in January, with one in every 317 housing units receiving a foreclosure filing — 2.9 times the state average. Livingston Parish reported the second highest foreclosure rate, with one in every 477 housing units receiving a foreclosure filing during the month — 1.9 times the state average. One in every 508 housing units in Orleans Parish received a foreclosure filing during the month, the third highest foreclosure rate in the state — 1.8 times the state average.

 

Orleans Parish dominates state foreclosure activity in January

Orleans Parish started off 2011 reporting 330 properties with foreclosure filings in January, the highest total in the state for the month. Jefferson Parish tallied the second highest total in the state, reporting 325 properties with foreclosure filings. Third highest was Saint Tammany Parish, where 308 properties with foreclosure filings were reported. East Baton Rouge Parish came in fourth, reporting 246 properties with foreclosure filings, followed by Calcasieu where 101 properties with foreclosure filings were reported for the month.

 

State contributes 1 percent to the nation’s foreclosure total in January

Louisiana accounted for 1 percent of the 261,333 properties with foreclosure filings reported nationwide in January. Total U.S. activity increased by more than 1 percent from December, but was down more than 17 percent from the level reported in January 2010. One in every 497 U.S. housing units received a foreclosure filing during the month.

 

“We’ve now seen three straight months with fewer than 300,000 properties receiving foreclosure filings, following 20 straight months where the total exceeded 300,000,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unfortunately this is less a sign of a robust housing recovery and more a sign that lenders have become bogged down in reviewing procedures, resubmitting paperwork and formulating legal arguments related to accusations of improper foreclosure processing.”

 

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.

 

Louisiana Top Foreclosure Rates By Parish – January 2011

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

36,964

38,234

88,050

19,952

78,133

261,333

497

n/a

n/a

Louisiana

0

267

0

1,387

469

2,123

925

0.54

n/a

 

 

 

 

 

 

 

 

 

 

Saint Tammany

0

117

0

155

36

308

317

1.57

2.91

Livingston

0

18

0

53

29

100

477

1.04

1.94

Orleans

0

0

0

173

157

330

508

0.98

1.82

Saint Charles

0

11

0

15

11

37

545

0.91

1.70

Jefferson

0

46

0

224

55

325

559

0.89

1.65

 

 

Louisiana Top Foreclosure Totals by Parish – January 2011

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 10

% Chg Jan 10

 

 

 

 

 

 

 

 

 

 

United States

36,964

38,234

88,050

19,952

78,133

261,333

497

1.39

-17.23

Louisiana

0

267

0

1,387

469

2,123

925

19.40

76.62

 

 

 

 

 

 

 

 

 

 

Orleans

0

0

0

173

157

330

508

45.37

85.39

Jefferson

0

46

0

224

55

325

559

8.33

57.00

Saint Tammany

0

117

0

155

36

308

317

26.75

33.91

East Baton Rouge

0

0

0

204

42

246

773

-9.89

86.36

Calcasieu

0

0

0

90

11

101

830

531.25

3,266.67

 

 

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