Texas Foreclosures Up in November

Foreclosure filings rise 3 percent from October, rate 20th in nation

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 13,369 Texas properties in November, up 3 percent from the previous month and a 10 percent rise from the level reported in November 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.  

 

One in every 718 Texas housing units received a foreclosure filing in November, giving the state the 20th highest state foreclosure rate in the nation.

 

Texas foreclosures were up slightly in November,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest increase was in default notices, which climbed more than four times during the month. Even though the state’s unemployment continues to remain below the national average, it has increased slightly during the month. This may be contributing to the recent rise.”

 

With 57,378 properties with foreclosure filings, California remained firmly established as the national frontrunner, with Florida alone in second place, reporting 32,938 properties with foreclosure filings for the month, well ahead of third place Michigan, which reported 15,311 properties with foreclosure filings. Georgia moved up two spots to fourth place, tallying 14,423 properties with foreclosure filings. Moving up four spots in the nation’s top 10 for November, Texas was fifth highest, reporting 13,369 properties with foreclosure filings for the month.

 

The remaining Top 10 states for November were Illinois (12,941), Nevada (11,371), Ohio (10,458), Arizona (10,384) and Pennsylvania (5,672). The top five states accounted for 51 percent of all foreclosure filings in the nation for the month.

 

Bastrop County achieves top foreclosure rate honors in November

Bastrop County posted the top foreclosure rate in Texas for November, with one in every 206 housing units receiving a foreclosure filing — 2.4 times the national average and 3.5 times the state average. Kaufman County reported the second highest foreclosure rate, with one in every 222 housing units receiving a foreclosure filing for the month — 2.2 times the national average and 3.2 times the state average. Rockwall County came in third, with one in every 305 housing units receiving a foreclosure filing — 1.6 times the national average and 2.3 times the state average.

 

Harris County dominates state foreclosure activity in November

Foreclosure activity was heaviest in Harris County, which reported 2,933 properties with foreclosure filings for November. Dallas County tallied the second highest foreclosure level, reporting 1,860 properties with foreclosure filings. Third highest total was in Tarrant County, where 1,298 properties with foreclosure filings were reported. Fourth highest was Bexar County, where 974 properties with foreclosure filings were reported. Travis County filled out the top five for the month, reporting 640 properties with foreclosure filings.

 

State contributes 5 percent to nation’s foreclosure total

Texas accounted for 5 percent of the 262,339 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 21 percent from the previous month, and was down more than 14 percent from the level reported in November 2009. One in every 492 U.S. housing units received a foreclosure filing during the month.

 

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 – November 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

n/a

n/a

Texas

22

0

8,936

0

4,411

13,369

718

0.69

n/a

 

 

 

 

 

 

 

 

 

 

Bastrop

3

0

46

0

73

122

206

2.39

3.48

Kaufman

0

0

86

0

57

143

222

2.21

3.23

Rockwall

0

0

52

0

33

85

305

1.61

2.35

Comal

0

0

79

0

66

145

319

1.54

2.25

Williamson

1

0

259

0

126

386

355

1.39

2.02

 

 

Texas Top Foreclosure Totals by County – November 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 10

% Chg Nov 09

 

 

 

 

 

 

 

 

 

 

United States

39,529

39,426

86,079

29,877

67,428

262,339

492

-21.02

-14.44

Texas

22

0

8,936

0

4,411

13,369

718

2.78

10.53

 

 

 

 

 

 

 

 

 

 

Harris

0

0

2,186

0

747

2,933

539

-0.24

8.99

Dallas

0

0

1,205

0

655

1,860

509

9.86

15.46

Tarrant

0

0

998

0

300

1,298

528

-20.66

2.85

Bexar

0

0

686

0

288

974

628

-2.31

-1.52

Travis

0

0

452

0

188

640

673

8.84

50.59

 

 

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