Wisconsin Foreclosure Activity Rises in November

Statewide filings up 9 percent from October

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 4,382 Wisconsin properties in November, a 9 percent increase from October and 4 percent above the level reported for November 2010, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

Wisconsin had the 12th highest foreclosure rate in the nation, reporting one in every 590 housing units with a foreclosure filing in November — on par with the national average.

California continues to lead the nation in terms of total properties with foreclosure filings by a large margin, reporting 63,689 properties with foreclosure filings. Second ranked Florida reported 24,739 properties with foreclosure filings during the month. Third place was Michigan, where 13,777 properties with foreclosure filings were reported. Illinois had the fourth highest total, reporting 12,398 properties with foreclosure filings while Georgia took fifth place, tallying 12,327 properties with foreclosure filings.

The remaining states that make up the nation’s top 10 in November include Arizona (10,766), Ohio (10,184), Texas (10,124), Nevada (6,512) and Wisconsin (4,382). The top 10 accounted for 75 percent of the nation’s total foreclosure activity for the month.

Kenosha County posts top foreclosure rate in the state for November
 One in every 227 housing units in Kenosha County had a foreclosure filing in November — 2.6 times the national average and 2.6 times the state average — the highest foreclosure rate of all Wisconsin counties for the month. Milwaukee County had the second highest rate of one in every 321 housing units with a foreclosure filing during the month — 1.8 times the national average and 1.8 times the state average. Rock County had the third highest rate of one in every 366 housing units with a foreclosure filing during the month — 1.6 times the national average and 1.6 times the state average.

Milwaukee County has highest foreclosure total in November
 Milwaukee County tallied the highest level of foreclosure activity in the state, reporting 1,279 properties with foreclosure filings for the month. Kenosha County had the second highest total, reporting 299 properties with foreclosure filings. Dane County was third, reporting 238 properties with foreclosure filings. Fourth highest was Brown County, recording 210 properties with foreclosure filings. Waukesha County was fifth highest, tallying 189 properties with foreclosure filings for the month.

State a major contributor to total foreclosure activity in November
 Wisconsin accounted for 2 percent of the 224,394 properties with foreclosure filings reported nationwide in November. Total U.S. activity decreased by 3 percent from October and was down over 14 percent from the level reported in November 2010. One in every 579 U.S. housing units received a foreclosure filing during the month.

“Despite a seasonal slowdown similar to what we’ve seen in each of the past four years, November’s numbers suggest a new set of incoming foreclosure waves, many of which may roll into the market as REOs or short sales sometime early next year,” said James Saccacio, co-founder of RealtyTrac. “Overall foreclosure activity is down 14 percent from a year ago, the smallest annual decrease over the past 12 months, and some bellwether states such as California, Ohio and Massachusetts actually posted year-over-year increases in foreclosure activity in November.

“Scheduled foreclosure auctions reached a nine-month high in November, corresponding to a recent surge in default notices that began back in August,” Saccacio continued. “Many of the new defaults that started the foreclosure process over the past few months are now being scheduled for public foreclosure auction.”

 

Wisconsin Top Foreclosure Rates By County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

n/a

n/a

Wisconsin

0

1,769

0

1,277

1,336

4,382

590

0.98

n/a

 

 

 

 

 

 

 

 

 

 

Kenosha

0

148

0

50

101

299

227

2.55

2.60

Milwaukee

0

642

0

227

410

1,279

321

1.81

1.84

Rock

0

77

0

50

61

188

366

1.58

1.61

Kewaunee

0

8

0

12

4

24

382

1.51

1.54

Columbia

0

22

0

16

21

59

435

1.33

1.36

 Wisconsin Top Foreclosure Totals by County – November 2011

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 11

% Chg Nov 10

 

 

 

 

 

 

 

 

 

 

United States

37,397

34,333

74,100

22,440

56,124

224,394

579

-2.72

-14.46

Wisconsin

0

1,769

0

1,277

1,336

4,382

590

8.87

3.57

 

 

 

 

 

 

 

 

 

 

Milwaukee

0

642

0

227

410

1,279

321

41.64

84.56

Kenosha

0

148

0

50

101

299

227

315.28

54.12

Dane

0

97

0

86

55

238

901

-15.60

-28.74

Brown

0

67

0

87

56

210

494

-17.32

3.96

Waukesha

0

82

0

49

58

189

833

-11.27

-22.54

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