Nebraska Foreclosures Falls in November

Foreclosure filings down 6 percent from October

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 361 Nebraska properties in November, down 6 percent from the previous month, but still a 67 percent rise from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

One in every 2,178 Nebraska housing units received a foreclosure filing in November, the 43rd highest state foreclosure rate in the nation.

 

“Foreclosure activity in Nebraska dropped in November, though it remained well above the level reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate remains one of the nation’s lowest at 4.6 percent, providing additional protection against mounting foreclosures along with the nation-wide fallout from the ‘robo-signing’ controversy.”

 

Douglas County achieves top foreclosure rate in November

Douglas County posted the highest foreclosure rate in Nebraska for November, with one in every 915 housing units receiving a foreclosure filing — 2.4 times the state average. Deuel County had the second highest foreclosure rate, reporting one in every 1,015 housing units receiving a foreclosure filing — 2.2 times the state average. Gosper County came in third, with one in every 1,298 housing units receiving a foreclosure filing — 1.7 times the state average.

 

Douglas County also dominates state foreclosure activity in November

Douglas County also led the state in foreclosure activity, reporting 234 proprieties with a foreclosure filing. Lancaster County had the second highest total reporting 35 properties with foreclosure filings. Sarpy County was third highest, tallying 23 properties with foreclosure filings. Dodge and Saunders counties each reported six properties with foreclosure filings for the month, the state’s fourth highest activity level.

 

State a minor contributor to total foreclosure total

Nebraska accounted for less than 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.

 

Nebraska 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

Nebraska

152

0

137

0

72

361

2,178

0.23

n/a

 

 

 

 

 

 

 

 

 

 

Douglas

151

0

64

0

19

234

915

0.54

2.38

Deuel

0

0

1

0

0

1

1,015

0.48

2.15

Gosper

0

0

1

0

0

1

1,298

0.38

1.68

Hamilton

0

0

2

0

1

3

1,334

0.37

1.63

Otoe

0

0

3

0

2

5

1,396

0.35

1.56

 

 

Nebraska 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

Nebraska

152

0

137

0

72

361

2,178

-6.46

67.13

 

 

 

 

 

 

 

 

 

 

Douglas

151

0

64

0

19

234

915

-17.02

35.26

Lancaster

0

0

18

0

17

35

3,355

40.00

218.18

Sarpy

1

0

14

0

8

23

2,582

15.00

187.50

Dodge

0

0

3

0

3

6

2,675

200.00

20.00

Saunders

0

0

4

0

2

6

1,529

 

500.00

 

 

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