Texas Foreclosure Activity Falls in August

Statewide  filings down 4 percent from July

Foreclosure  filings — default notices, scheduled auctions and bank repossessions — fell in  Texas, where 10,148 properties were reported in August, a 4 percent decrease  from July and 29 percent below the level reported for August 2010, according to the latest RealtyTrac®  U.S. Foreclosure Market Report.

Texas had the  24th highest rate in the country with one in every 958 housing units  with a foreclosure filing in August.

California continues to  lead the nation in terms of total properties with foreclosure filings by a  large margin, reporting 59,383 properties with a foreclosure filing. Second  ranked Florida reported 23,569 properties with foreclosure filings during the  month. Moving up to third place was Michigan, where 13,016 properties with  foreclosure filings were reported. Illinois jumped a spot to the fourth highest  total, reporting 12,493 properties with foreclosure filings while Georgia  dropped two spots and took fifth place, tallying 11,743 properties with  foreclosure filings.

The remaining states that  make up the nation’s top 10 in August include Arizona (11,081), Texas (10,148),  Ohio (9,841), Nevada (9,677) and Colorado (4,933). The top 10 accounted for 73 percent  of the nation’s total foreclosure activity for the month.

Kaufman County posts top foreclosure rate in the  state for August
  One in every 268 housing  units in Kaufman County received a foreclosure filing in August — 2.1 times the  national average and 3.6 times the state average — the highest foreclosure rate  of all Texas counties for the month. Bastrop County had the second highest rate  of one in every 391 housing units with a foreclosure filing during the month — 1.5  times the national average and 2.5 times the state average. Rockwall County had  the third highest rate of one in every 394 housing units with a foreclosure  filing during the month — 1.5 times the national average and 2.4 times the  state average.

Harris County posts the state’s top foreclosure  total in August
  Harris County led the  state in foreclosure activity, reporting 2,485 properties with foreclosure  filings for the month. Dallas County was second highest, reporting 1,403 properties  with foreclosure filings. Tarrant County was third, reporting 972 properties  with foreclosure filings. Fourth highest was Bexar County, recording 863  properties with foreclosure filings. Travis County was fifth tallying 373  properties with a foreclosure filing.

State the nation’s seventh largest contributor to total  foreclosure activity in August
  Texas accounted for 4 percent  of the 228,098 properties with foreclosure filings reported nationwide in August.  Total U.S. activity increased by more than 7 percent from July, but was down nearly  33 percent from the level reported in August 2010. One in every 570 U.S. housing  units received a foreclosure filing during the month.

“The big increase in new foreclosure actions may be  a signal that lenders are starting to push through some of the foreclosures  delayed by robo-signing and other documentation problems,” said James Saccacio,  chief executive officer of RealtyTrac. “It also foreshadows more bank  repossessions in the coming months as these new foreclosures make their way  through the process.”

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: DefaultNotice  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.

 

        Texas Top Foreclosure Rates By County – August 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

n/a

n/a

Texas

5

0

6,327

0

3,816

10,148

958

0.59

n/a

 

 

 

 

 

 

 

 

 

 

Kaufman

0

0

63

0

57

120

268

2.13

3.57

Bastrop

0

0

31

0

34

65

391

1.46

2.45

Rockwall

0

0

40

0

27

67

394

1.45

2.43

Hays

0

0

82

0

31

113

471

1.21

2.04

Fort Bend

0

0

256

0

68

324

502

1.13

1.91

 

 

        Texas Top Foreclosure Totals by County – August 2011

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg July 11

% Chg Aug 10

 

 

 

 

 

 

 

 

 

 

United States

40,765

38,115

63,347

21,058

64,813

228,098

570

7.21

-32.68

Texas

5

0

6,327

0

3,816

10,148

958

-4.00

-28.99

 

 

 

 

 

 

 

 

 

 

Harris

0

0

1,560

0

925

2,485

646

25.19

-22.20

Dallas

0

0

920

0

483

1,403

682

-20.10

-20.01

Tarrant

0

0

647

0

325

972

712

1.14

-28.16

Bexar

0

0

541

0

322

863

716

8.28

-21.47

Travis

0

0

239

0

134

373

1,168

-26.28

-39.25

 

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