Nebraska Foreclosure Activity Up in Third Quarter

Total foreclosure filings up 14 percent compared to the second quarter

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 893 Nebraska properties during the third quarter, a 14 percent increase from the previous quarter and up 22 percent from the third quarter of 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

For September, Nebraska reported 332 properties with foreclosure filings, a 2 percent decrease from the previous month and 6 percent below the level reported for the same month last year. One in every 2,368 Nebraska housing units received a foreclosure filing in September, the 43rd highest foreclosure rate among the 50 states.

 

“Foreclosure activity climbed in Nebraska over the third quarter of 2010, with more filings reported than in the previous quarter and during the same period last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “That said, unemployment within the state has been consistently dropping over the quarter, recently falling to 4.6 percent – the lowest it has been all year. If this trend continues in the coming months, a drop in foreclosures should follow going into next year.”

 

One in every 881 Nebraska housing units received a foreclosure filing during the quarter, the 45th highest state foreclosure rate in the nation.

 

Douglas County led state with top foreclosure rate in third quarter

Douglas County posted the highest foreclosure rate in Nebraska during the third quarter of 2010, where one in every 371 housing units received a foreclosure filing. Furnas County posted the second highest foreclosure rate, where one in every 682 housing units received a foreclosure filing during the period. Gage County documented the third highest foreclosure rate, where one in every 875 housing units received a foreclosure filing.

 

Douglas County posts state’s top foreclosure total in third quarter

Douglas County also led the state in foreclosure activity, reporting 577 properties with foreclosure filings for the quarter. Lancaster County had the second highest total, reporting 84 properties with foreclosure filings. Sarpy County was third, tallying 54 properties with foreclosure filings. Dodge County was fourth highest, reporting 15 properties with foreclosure filings. Hall County had the fifth highest total, reporting 15 properties with foreclosure filings for the quarter.

 

State a minor contributor to nation’s foreclosure total for the quarter

Less than 1 percent of 930,437 properties with foreclosure filings reported nationwide during the third quarter were located in Nebraska. Total U.S. activity increased nearly 4 percent from the second quarter, but was down fractionally from the level reported for the third quarter 2009. One in every 139 U.S. housing units received a foreclosure filing during the quarter.

 

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 – Third Quarter 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

116,349

153,298

243,869

128,576

288,345

930,437

139

n/a

n/a

Nebraska

406

0

155

0

332

893

881

0.16

n/a

 

 

 

 

 

 

 

 

 

 

Douglas

404

0

65

0

108

577

371

0.37

2.37

Furnas

0

0

1

0

3

4

682

0.20

1.29

Gage

0

0

8

0

4

12

875

0.16

1.01

Dixon

0

0

0

0

3

3

910

0.15

0.97

Kearney

0

0

1

0

2

3

952

0.15

0.93

 

 

Nebraska Top Foreclosure Totals by County – Third Quarter 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 10

% Chg Q3 09

 

 

 

 

 

 

 

 

 

 

United States

116,349

153,298

243,869

128,576

288,345

930,437

139

3.90

-0.79

Nebraska

406

0

155

0

332

893

881

13.76

21.50

 

 

 

 

 

 

 

 

 

 

Douglas

404

0

65

0

108

577

371

18.97

1.58

Lancaster

0

0

18

0

66

84

1,398

16.67

75.00

Sarpy

2

0

18

0

34

54

1,100

17.39

237.50

Dodge

0

0

1

0

14

15

1,070

0.00

87.50

Hall

0

0

6

0

8

14

1,635

-6.67

100.00

 

 

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