Texas Foreclosure Activity Up in Third Quarter

Total foreclosure filings rise 4 percent compared to the second quarter

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 34,187 Texas properties during the third quarter, a 4 percent increase from the previous quarter and up 15 percent from the third quarter of 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

For September, Texas reported 12,769 properties with foreclosure filings, an 11 percent decrease from the previous month and 3 percent below the level reported for the same month last year. One in every 752 Texas housing units received a foreclosure filing in September, the 29th highest foreclosure rate among the 50 states.

 

“Foreclosure activity continued to rise in Texas in the third quarter of 2010, with more filings reported than in the previous quarter and as compared to the third quarter of 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “Adding to the state’s mounting foreclosure filings is unemployment, which remains high at 8.3 percent, along with a high number of lenders increasing payments on subprime mortgages.”

 

California continued to have the highest foreclosure activity in the nation with 191,016 properties with foreclosure filings in the quarter.  The nation’s second highest foreclosure activity continued in Florida, where 157,026 properties with foreclosure filings were reported for the quarter. Arizona had the third highest activity level, reporting 49,103 properties with foreclosure filings. Illinois was fourth, tallying 47,802 properties with foreclosure filings. Fifth highest total was in Michigan, where 46,100 properties with foreclosure filings were reported for the quarter.

 

The remaining states in the nation’s top 10 for total third quarter foreclosure activity were Georgia (41,231), Nevada (38,429), Ohio (36,677), Texas (34,187) and Washington (16,803). In all, the top five states accounted for 53 percent of all foreclosure filings in the nation during the third quarter.

 

One in every 281 Texas housing units received a foreclosure filing during the quarter, the 30th highest state foreclosure rate in the nation.

 

Kaufman County led state with top foreclosure rate in third quarter

Kaufman County posts the highest foreclosure rate in the state during the third quarter of 2010, where one in every 101 housing units received a foreclosure filing — 2.8 times the state average. Bastrop County posted the second highest foreclosure rate, where one in every 139 housing units received a foreclosure filing during the period — twice the state average. Johnson County documented the third highest foreclosure rate, where one in every 140 housing units received a foreclosure filing — twice the state average.

 

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

Harris County led the state, reporting 7,477 properties with foreclosure filings for the quarter. Dallas County was second, reporting 4,428 properties with foreclosure filings. Tarrant County was third, tallying 3,088 properties with foreclosure filings. Bexar County was fourth highest, reporting 2,702 properties with foreclosure filings. Travis County had the fifth highest total, reporting 1,460 properties with foreclosure filings for the quarter.

 

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

Four percent of 930,437 properties with foreclosure filings reported nationwide during the third quarter were located in Texas. 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.

 

 

Texas 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

Texas

50

0

18,184

0

15,953

34,187

281

0.49

n/a

 

 

 

 

 

 

 

 

 

 

Kaufman

0

0

134

0

181

315

101

1.37

2.78

Bastrop

5

0

86

0

90

181

139

1.00

2.02

Johnson

0

0

181

0

204

385

140

0.99

2.00

Parker

0

0

127

0

145

272

143

0.97

1.97

Fort Bend

0

0

601

0

471

1,072

146

0.95

1.92

 

 

Texas 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

Texas

50

0

18,184

0

15,953

34,187

281

4.23

14.58

 

 

 

 

 

 

 

 

 

 

Harris

0

0

3,856

0

3,621

7,477

212

10.95

23.04

Dallas

0

0

2,682

0

1,746

4,428

214

-0.92

9.01

Tarrant

0

0

2,154

0

934

3,088

222

-6.51

5.00

Bexar

1

0

1,434

0

1,267

2,702

227

6.42

21.17

Travis

1

0

906

0

553

1,460

295

3.84

-1.22

 

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved