North Dakota Foreclosures Up in 2010

Foreclosure filings up 25 percent from 2009

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 488 North Dakota properties for 2010, up 25 percent from a year ago and 32 percent above the level reported for 2008, according to the RealtyTrac® Year-End 2010 U.S. Foreclosure Market Report™.

 

Foreclosure filings were reported on 29 North Dakota properties in December 2010, a 41 percent decrease from November, and 34 percent lower than the level reported in December 2009. One in every 10,805 North Dakota housing units received a foreclosure filing during the month.

 

“North Dakota foreclosures were up in 2010,” said James J. Saccacio, chief executive officer of RealtyTrac. “This is likely due to the state’s home sales, which fell further than the national average during most of the year. Even so, this state still holds the second lowest yearly total in the country.”

North Dakota ranked 49th in the nation in total foreclosures reported for 2010. Its foreclosure rate of one in every 642 housing units receiving a foreclosure filing during the year, ranked it 48th among the 50 states.

Ransom County achieves top foreclosure rate honors in 2010

Natrona County posted the highest foreclosure rate in North Dakota for 2010, with one in every 211 housing units receiving a foreclosure filing — 3.1 times the state average. Richland County reported the second highest foreclosure rate, with one in every 249 housing units receiving a foreclosure filing for the year — 2.6 times the state average. Sargent County came in third, with one in every 261 housing units receiving a foreclosure filing — 2.5 times the state average.

 

Cass County dominates state foreclosure activity in 2010

Foreclosure activity was heaviest in Cass County, which reported 228 properties with foreclosure filings for the year. Grand Forks County tallied the second highest foreclosure level, reporting 50 properties with foreclosure filings. Third highest total was in Burleigh County where 40 properties with foreclosure filings were reported. Fourth highest was Morton County, where 35 properties with foreclosure filings were reported. Richland County filled out the state’s top five with 31 properties with foreclosure filings for the year.

 

State contributes less than 1 percent to total foreclosure activity in 2010

North Dakota 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.

 

North Dakota 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

North Dakota

0

11

0

144

333

488

642

0.07

n/a

 

 

 

 

 

 

 

 

 

 

Ransom

0

0

0

0

13

13

211

0.21

3.05

Richland

0

1

0

1

29

31

249

0.18

2.57

Sargent

0

0

0

3

5

8

261

0.17

2.46

Cass

0

0

0

78

150

228

288

0.16

2.23

Morton

0

1

0

11

23

35

341

0.13

1.88

 

North Dakota 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

North Dakota

0

11

0

144

333

488

642

25.13

31.54

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

78

150

228

288

22.58

22.58

Grand Forks

0

9

0

22

19

50

592

-15.25

8.70

Burleigh

0

0

0

16

24

40

842

14.29

37.93

Morton

0

1

0

11

23

35

341

84.21

250.00

Richland

0

1

0

1

29

31

249

40.91

106.67

 

 

 

North Dakota 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

North Dakota

0

0

0

9

20

29

10,805

0.05

n/a

 

 

 

 

 

 

 

 

 

 

Ransom

0

0

0

0

3

3

912

0.55

11.84

Trail

0

0

0

0

1

1

3,762

0.13

2.87

Cass

0

0

0

8

9

17

3,861

0.13

2.80

Pembina

0

0

0

0

1

1

4,095

0.12

2.64

Stutsman

0

0

0

0

2

2

4,985

0.10

2.17

 

 

North Dakota 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

North Dakota

0

0

0

9

20

29

10,805

-40.82

-34.09

 

 

 

 

 

 

 

 

 

 

Cass

0

0

0

8

9

17

3,861

-39.29

-10.53

Ransom

0

0

0

0

3

3

912

n/a

n/a

Stutsman

0

0

0

0

2

2

4,985

100.00

100.00

 

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