Texas Foreclosures Up in 2010

Foreclosure filings rise 19 percent from 2009

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 118,923 Texas properties for 2010, up 19 percent from a year ago and 24 percent above the level reported for 2008, according to the RealtyTrac® Year-End 2010 U.S. Foreclosure Market Report™.

 

Foreclosure filings were reported on 11,162 Texas properties in December 2010, a 17 percent decrease from November and 19 percent lower than the level reported in December 2009. One in every 860 Texas housing units received a foreclosure filing during the month.

 

“Foreclosure activity in Texas heated up considerably in 2010, with more filings than in 2008 or 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even with a measurable dip in activity in the last quarter, foreclosure filings surged upward over the course of the year. Unemployment, though currently below the national average at 8.3 percent, remains high compared to previous years and has therefore played a major role in keeping the state’s rate of foreclosures elevated.”

 

Texas had the fifth highest total in the nation in 2010. California continued to be the top state, reporting 546,669 properties with foreclosure filings. Florida came in second, tallying 485,286 properties with foreclosure filings. Arizona came third, reporting 155,878 properties with foreclosure filings. Illinois had the fourth highest total, tallying 151,304 properties with foreclosure filings. Michigan had the fifth highest total, reporting 135,874 properties with a foreclosure filing.

 

The remaining states in the nation’s Top 10 for 2010 were Georgia (130,966), Ohio (108,160), Nevada (106,160) and New Jersey (64,808). The top five states accounted for 51 percent of all foreclosure filings in the nation for the month.

 

Kaufman County posts state’s top foreclosure rate in 2010

Kaufman County posted the highest foreclosure rate in Texas in 2010, with one in every 32 housing units receiving a foreclosure filing — 2.5 times the state average. Rockwall County came in second, with one in every 34 housing units receiving a foreclosure filing in 2010 — 2.3 times the state average. The next highest was Bastrop County, where one in every 38 housing units received a foreclosure filings during the year — 2.1 times the state average.

 

Harris County led the state in foreclosure activity in 2010

Harris County led Texas in foreclosure activity, reporting 24,926 properties with foreclosure filings. Next highest was Dallas County, where 15,059 properties with foreclosure filings were reported. Tarrant County was third highest, reporting 11,645 properties with foreclosure filings for the year. Bexar County came in fourth, tallying 9,259 properties with foreclosure filings. Fifth highest total for the year was in Collin County, where 5,400 properties with foreclosure filings were reported.

 

State the nation’s seventh largest contributor to total foreclosure activity in 2010

Texas accounted for 4 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.

 

Texas 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

Texas

112

0

56,988

0

61,823

118,923

81

0.56

n/a

 

 

 

 

 

 

 

 

 

 

Kaufman

0

0

404

0

592

996

32

1.41

2.53

Rockwall

0

0

281

0

471

752

34

1.30

2.34

Bastrop

10

0

269

0

388

667

38

1.19

2.14

Johnson

0

0

516

0

790

1,306

41

1.09

1.95

Parker

0

0

400

0

512

912

43

1.06

1.90

 

 

Texas 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

45

1.67

23.23

Texas

112

0

56,988

0

61,823

118,923

81

18.87

23.68

 

 

 

 

 

 

 

 

 

 

Harris

0

0

12,288

0

12,638

24,926

63

24.44

10.26

Dallas

0

0

8,139

0

6,920

15,059

63

15.49

10.23

Tarrant

0

0

6,427

0

5,218

11,645

59

14.12

13.92

Bexar

1

0

4,526

0

4,732

9,259

66

11.41

35.78

Collin

0

0

2,631

0

2,769

5,400

53

19.47

32.42

 

 

 

Texas 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

Texas

9

0

7,100

0

4,053

11,162

860

0.58

n/a

 

 

 

 

 

 

 

 

 

 

Rockwall

0

0

27

0

47

74

350

1.43

2.45

Hood

0

0

6

0

51

57

363

1.38

2.37

Bastrop

2

0

35

0

27

64

393

1.27

2.19

Fort Bend

0

0

259

0

139

398

394

1.27

2.18

Johnson

0

0

79

0

42

121

446

1.12

1.93

 

 

Texas 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

Texas

9

0

7,100

0

4,053

11,162

860

-16.51

-19.16

 

 

 

 

 

 

 

 

 

 

Harris

0

0

1,724

0

1,120

2,844

556

-3.03

-6.78

Tarrant

0

0

817

0

387

1,204

569

-7.24

-13.19

Dallas

0

0

944

0

182

1,126

840

-39.46

-39.75

Bexar

0

0

575

0

287

862

710

-11.50

-24.45

Travis

0

0

356

0

179

535

805

-16.41

0.56

 

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