Nebraska Foreclosures Increase in 2010

Statewide filings rise 83 percent from 2009

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 3,377 Nebraska properties for 2010, up 83 percent from a year ago and 6 percent above the level reported for 2008, according to the RealtyTrac® Year-End 2010 U.S. Foreclosure Market Report™.

 

The state reported 277 properties with foreclosure filings in December 2010, a 23 percent decrease from November, but still 23 percent higher than the level reported in December 2009. One in every 2,839 Nebraska housing units received a foreclosure filing during the month ranking 45th among the 50 states.

 

“The level of foreclosure activity in Nebraska rose significantly in 2010,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in bank-owned properties, which climbed 37 percent for the month. While the state’s unemployment rate remains one of the lowest in the nation, home sales fell significantly farther than the national average for most of last year. These factors are driving the overall rise in foreclosures we are seeing.”

Nebraska ranked 43rd in the nation in total foreclosures for 2010. Its foreclosure rate of one in every 233 housing units receiving a foreclosure filing during the year ranked 44th among the 50 states.

Douglas County posts state’s top foreclosure rate in 2010

One in every 97 housing units received a foreclosure filing in Douglas County in 2010 — 2.4 times the state average. Saline County reported the second highest foreclosure rate in the state, with one in every 241 housing units receiving a foreclosure filing for the year. Box Butte County came in third, with one in every 249 housing units receiving a foreclosure filing.

 

Highest foreclosure level reported by Douglas County for 2010

Foreclosure activity was heaviest in Douglas County, which reported 2,202 properties with foreclosure filings for the year. Lancaster County tallied the second highest foreclosure level, reporting 293 properties with foreclosure filings. Third highest total was in Sarpy County where 196 properties with foreclosure filings were reported. Fourth highest was Hall County, where 65 properties with foreclosure filings were reported. Dodge County filled out the state’s top five, tallying 52 properties with foreclosure filings for the year.

 

State a minor contributor to nation’s foreclosure total in 2010

Nebraska accounted for less than 1 percent of the 2,871,891 properties with foreclosure filings reported nationwide for 2010. Total U.S. activity increased by almost 2 percent from 2009, and was more than 23 percent above the level reported in 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 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

n/a

n/a

Nebraska

1,523

0

678

0

1,176

3,377

233

0.19

n/a

 

 

 

 

 

 

 

 

 

 

Douglas

1,520

0

278

0

404

2,202

97

0.46

2.39

Saline

0

0

8

0

16

24

241

0.19

0.97

Box Butte

0

0

7

0

15

22

249

0.18

0.93

Burt

0

0

6

0

9

15

250

0.18

0.93

Cheyenne

0

0

5

0

13

18

270

0.17

0.86

 

Nebraska Top Foreclosure Totals by County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg 2009

% Chg 2008

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

492

1.67

23.23

Nebraska

1,523

0

678

0

1,176

3,377

233

83.04

5.86

 

 

 

 

 

 

 

 

 

 

Douglas

1,520

0

278

0

404

2,202

97

54.53

30.22

Lancaster

0

0

93

0

200

293

401

121.97

-57.72

Sarpy

3

0

77

0

116

196

303

269.81

-43.84

Hall

0

0

21

0

44

65

352

282.35

-29.35

Dodge

0

0

11

0

41

52

309

126.09

420.00

 

 

 

Nebraska Top Foreclosure Rates By County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

n/a

n/a

Nebraska

111

0

66

0

100

277

2,839

0.18

n/a

 

 

 

 

 

 

 

 

 

 

Burt

0

0

3

0

0

3

1,249

0.40

2.27

Douglas

111

0

22

0

32

165

1,298

0.39

2.19

Nance

0

0

0

0

1

1

1,769

0.28

1.60

Kimball

0

0

0

0

1

1

1,962

0.26

1.45

Jefferson

0

0

0

0

2

2

1,995

0.25

1.42

 

 

Nebraska Top Foreclosure Totals by County: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 10

% Chg Dec 09

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

-1.75

-26.26

Nebraska

111

0

66

0

100

277

2,839

-23.27

23.11

 

 

 

 

 

 

 

 

 

 

Douglas

111

0

22

0

32

165

1,298

-29.49

23.13

Lancaster

0

0

10

0

19

29

4,049

-17.14

11.54

Sarpy

0

0

10

0

11

21

2,828

-8.70

50.00

Hall

0

0

2

0

6

8

2,862

166.67

100.00

Lincoln

0

0

0

0

7

7

2,319

250.00

250.00

 

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