Vermont Foreclosure Activity Up in 2009

Statewide filings up 4 percent from 2008; Up 6 percent from November

 

Vermont foreclosures were up in 2009, with 143 properties with foreclosure filings, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The yearly total represents a 4 percent increase from the total reported for 2008, and is 393 percent higher than the level reported for all of 2007.

 

Vermont foreclosures increased only slightly in 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate remains well below the national average and home sales are beginning to pick up. If these trends continue, we will likely see foreclosures decline here in 2010.”

 

Vermont had the lowest total foreclosures for 2009 when compared to the 50 states. With one in every 2,178 housing units receiving a foreclosure filing, Vermont’s foreclosure rate was also lower than any other state for the year.

 

Reporting 17 properties with foreclosure filings for December, Vermont had a 6 percent increase from the previous month, and was 6 percent above December 2008. The state’s foreclosure rate — one in every 18,320 housing units received a foreclosure filing — ranked lowest in the nation for the month.

 

Franklin County posts state’s highest foreclosure rate for 2009

Franklin County posted the highest county foreclosure rate in Vermont for the year, with one in every 1,045 housing units receiving a foreclosure filing in 2009. Essex County had the second highest rate, with one in every 1,222 housing units receiving a foreclosure filing. Washington County came in third highest, with one in every 1,459 housing units receiving a foreclosure filing. Rutland County was fourth highest with one in every 1,734 housing units receiving a foreclosure filing, followed by Caledonia County, with one in every 1,916 housing units receiving a foreclosure filing.

 

Chittenden County posts state’s highest total foreclosure filings in 2009

Chittenden County led the state in total foreclosures in 2009, reporting a total of 23 properties with foreclosure filings for the year. Franklin and Washington Counties came in second, each documenting 20 properties with foreclosure filings. Rutland County had the third highest total in the state, reporting 19 properties with foreclosure filings for the year. Windsor County was fourth highest, reporting 17 properties with foreclosure filings for all of 2009.

 

State contributes less than 1 percent to nation’s foreclosure total in 2009

Vermont accounted for less than 1 percent of the 2,824,674 properties with foreclosure filings reported nationwide in 2009. Total U.S. activity increased more than 21 percent over the level reported for all of 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.

 

 

Vermont Top Foreclosure Rates by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

%Chg

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Vermont

143

0.05

2,178

4.38

393.10

 

 

 

 

 

 

Franklin

20

0.10

1,045

-4.76

566.67

Essex

4

0.08

1,222

 

 

Washington

20

0.07

1,459

42.86

400

Rutland

19

0.06

1,734

58.33

280

Caledonia

8

0.05

1,916

33.33

 

 

 

Vermont Top Foreclosure Totals by County: Year-End 2009

 

County

Total Properties with Filings

% Housing Units

1/Every X HU

% Chg  

from 2008

% Chg

from 2007

 

 

 

 

 

 

United States

2,824,674

2.21

45

21.21

119.67

Vermont

143

0.05

2,178

4.38

393.10

 

 

 

 

 

 

Chittenden

23

0.04

2,734

21.05

155.56

Franklin

20

0.10

1,045

-4.76

566.67

Washington

20

0.07

1,459

42.86

400

Rutland

19

0.06

1,734

58.33

280

Windsor

17

0.05

1,960

 

466.67

 

 

Vermont Top Foreclosure Rates by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

n/a

n/a

Vermont

0

0

1

0

16

17

18,320

0.02

n/a

 

 

 

 

 

 

 

 

 

 

Franklin

0

0

0

0

3

3

6,968

0.05

2.63

Chittenden

0

0

0

0

6

6

10,479

0.03

1.75

Windsor

0

0

0

0

3

3

11,106

0.03

1.65

Washington

0

0

0

0

2

2

14,586

0.03

1.26

Caledonia

0

0

1

0

0

1

15,325

0.02

1.20

 

 

Vermont Top Foreclosure Totals by County – December 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 09

% Chg Dec 08

 

 

 

 

 

 

 

 

 

 

United States

45,074

71,911

105,527

37,825

92,182

349,519

366

13.99

15.20

Vermont

0

0

1

0

16

17

18,320

6.25

6.25

 

 

 

 

 

 

 

 

 

 

Chittenden

0

0

0

0

6

6

10,479

500

 

Franklin

0

0

0

0

3

3

6,968

 

-40

Windsor

0

0

0

0

3

3

11,106

200

50

Washington

0

0

0

0

2

2

14,586

 

 

Chittenden

0

0

0

0

6

6

10,479

500

 

 

 

 

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 © 2017 Renwood RealtyTrac LLC - All rights reserved