Nebraska Foreclosure Activity Down in 2009

Statewide filings down 42 percent from 2008; Up 4 percent from November

 

Nebraska foreclosures were down in 2009, with 1,845 properties with foreclosure filings, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The yearly total represents a 42 percent decrease from the total reported for 2008, and is 49 percent lower than the level reported for all of 2007.

 

“It is no surprise that Nebraska foreclosures have declined in 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state still holds one of the lowest unemployment rates in the country, and its home values have not fallen as far as most other states. If these trends persist, we may see foreclosures continue to fall here in 2010.”

 

Nebraska ranked 44th in total foreclosures reported for 2009 when compared to the 50 states. With one in every 423 housing units receiving a foreclosure filing, Nebraska’s foreclosure rate ranked 46th in the nation for the year.

 

Reporting 225 properties with foreclosure filings for December, Nebraska had a 4 percent increase from the previous month, and was 389 percent above December 2008. The state’s foreclosure rate — one in every 3,470 housing units received a foreclosure filing — ranked 47th in the nation for the month.

 

Douglas County posts state’s highest foreclosure rate for 2009

Douglas County posted the highest county foreclosure rate in Nebraska for the year, with one in every 149 housing units receiving a foreclosure filing in 2009. Pawnee County had the second highest foreclosure rate, with one in every 537 housing units receiving a foreclosure filing. Cass County came in third highest, with one in every 655 housing units receiving a foreclosure filing. Kimball County was fourth highest with one in every 656 housing units receiving a foreclosure filing, followed by Furnas County, with one in every 684 housing units receiving a foreclosure filing.

 

Douglas County also led state in foreclosure activity in 2009

Douglas County also led the state in total foreclosures in 2009, reporting a total of 1,425 properties with foreclosure filings for the year. Lancaster County came in second, documenting 132 properties with foreclosure filings. Sarpy County had the third highest total in the state, reporting 53 properties with foreclosure filings for the year. Dodge County was fourth highest, reporting 23 properties with foreclosure filings, followed by Cass County in fifth place, tallying 17 properties with foreclosure filings for all of 2009.

 

State contributes less than 1 percent to nation’s foreclosure total in 2009

Nebraska accounted for less than1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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.

 

 

Nebraska Top Foreclosure Rates by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Nebraska

1,845

0.24

423

-42.16

-49.26

 

 

 

 

 

 

Douglas

1,425

0.67

149

-15.73

-35.78

Pawnee

3

0.19

537

 

 

Cass

17

0.15

655

21.43

466.67

Kimball

3

0.15

656

-25.00

 

Furnas

4

0.15

684

300

300

 

 

Nebraska Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Nebraska

1,845

0.24

423

-42.16

-49.26

 

 

 

 

 

 

Douglas

1,425

0.67

149

-15.73

-35.78

Lancaster

132

0.11

882

-80.95

-81.33

Sarpy

53

0.09

1,093

-84.81

-87.62

Dodge

23

0.14

697

130.00

666.67

Cass

17

0.15

655

21.43

466.67

 

 

Nebraska Top Foreclosure Rates by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Nebraska

84

0

68

0

73

225

3,470

0.11

n/a

 

 

 

 

 

 

 

 

 

 

Douglas

84

0

23

0

27

134

1,582

0.23

2.19

Pawnee

0

0

1

0

0

1

1,610

0.23

2.16

Burt

0

0

1

0

1

2

1,879

0.19

1.85

Phelps

0

0

1

0

1

2

2,132

0.17

1.63

Johnson

0

0

1

0

0

1

2,162

0.17

1.61

 

 

Nebraska Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Nebraska

84

0

68

0

73

225

3,470

4.17

389.13

 

 

 

 

 

 

 

 

 

 

Douglas

84

0

23

0

27

134

1,582

-22.54

1016.67

Lancaster

0

0

10

0

16

26

4,477

136.36

85.71

Sarpy

0

0

10

0

4

14

4,136

75

250

Dodge

0

0

2

0

3

5

3,207

 

400

Scotts Bluff

0

0

1

0

4

5

3,267

400

 

 

 

 

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