Foreclosure Help | Cooper City Florida

A record 2.9 million properties in the United States receive Foreclosure filings in 2010 despite the 30-month low in December

1 September 2011 No Comment

Record 2.9 Million U.S. Properties Receive Foreclosure Filings in 2010 Despite 30-Month Low in December RealtyTrac.com Sign In | FREE TRIAL | Subscribe | Help
Home My RealtyTrac Stats & Trends Learning Center Services Community Looking to buy? Find a local agent Search Homes The location you are looking for cannot be found. Suggestions: Type in a city and state when searching for an address. Include a comma between your address and city. Verify that your address and city are spelled correctly. Try entering just a ZIP code. Did you mean: advanced
Price:
to Beds:
Any 1+ Beds 2+ Beds 3+ Beds 4+ Beds 5 or more Baths:
Any 1+ Baths 2+ Baths 3+ Baths 4+ Baths 5 or more Sq ft:
Any 500+ sq.ft. 1,000+ sq.ft. 1,500+ sq.ft. 2,000+ sq.ft. 2,500+ sq.ft. 3,000+ sq.ft. 3,500+ sq.ft. 4,000+ sq.ft. 5,000+ sq.ft. 7,500+ sq.ft. 10,000+ sq.ft. Lot Size:
Any 3,000+ sq.ft. 5,000+ sq.ft. 7,500+ sq.ft. 0.5+ acre 1+ acre 1.5+ acres 2+ acres 3+ acres 5+ acres 10+ acres
Property Types All Residential: Single Family Condo / Townhouse Multi Family (2-4 units) Multi Family (5+ units) Mobile/Manufactured Farm/Ranch Vacant Land All Commercial: Retail Office Industrial Other:
View codes
Lender Name: Equity Loan-To-Value $ to $ to Year Built to
Dates All Dates Custom Date Range to Apply custom range to auction only RealtyTrac Ratings 3 Star Rating 2 Star Rating 1 Star Rating Neutral Rating No Star Rating Home Score to Foreclosure Home Press Releases Record 2.9 Million U.S. Properties Receive Foreclosure Filings in 2010 Despite 30-Month Low in December News and Opinion Videos Foreclosure Market Report Press Releases Press Coverage Events Record 2.9 Million U.S. Properties Receive Foreclosure Filings in 2010 Despite 30-Month Low in December January 12, 2011
By RealtyTrac Staff Text Size A A A
Print Email Comments Add Comment
Florida Foreclosure Activity Drops 22 Percent in December, but
Bank Repossessions Spike more than 45 Percent in Nevada, Arizona, California

IRVINE, Calif. – Jan. 13, 2011 – RealtyTrac® (http://www.realtytrac.com/gateway_co.asp?accnt=137300), the leading online marketplace for foreclosure properties, today released its Year-End 2010 U.S. Foreclosure Market Report™, which shows a total of 3,825,637 foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on a record 2,871,891 U.S. properties in 2010, an increase of nearly 2 percent from 2009 and an increase of 23 percent from 2008. The report also shows that 2.23 percent of all U.S. housing units (one in 45) received at least one foreclosure filing during the year, up from 2.21 percent in 2009, 1.84 percent in 2008, 1.03 percent in 2007 and 0.58 percent in 2006.

Foreclosure filings were reported on 257,747 U.S. properties in December, a decrease of nearly 2 percent from the previous month and down 26 percent from December 2009 — the biggest annual drop in foreclosure activity since RealtyTrac began publishing its foreclosure report in January 2005 and giving December the lowest monthly total since June 2008.

December Default notices (NOD, LIS) decreased 4 percent from the previous month and were down 35 percent from December 2009; Scheduled foreclosure auctions (NTS, NFS) decreased 3 percent from the previous month and were down 20 percent from December 2009; and bank repossessions (REO) increased nearly 4 percent from the previous month — thanks in part to substantial month-over-month increases in some states such as Nevada (71 percent increase), Arizona (52 percent increase) and California (47 percent increase) — but were still down 24 percent from December 2009.

Foreclosure filings were reported on 799,064 U.S. properties in the fourth quarter, a 14 percent decrease from the previous quarter and an 8 percent decrease from the fourth quarter of 2009. The fourth quarter total was the lowest quarterly total since Q4 2008.

“Total properties receiving foreclosure filings would have easily exceeded 3 million in 2010 had it not been for the fourth quarter drop in foreclosure activity — triggered primarily by the continuing controversy surrounding foreclosure documentation and procedures that prompted many major lenders to temporarily halt some foreclosure proceedings,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even so, 2010 foreclosure activity still hit a record high for our report, and many of the foreclosure proceedings that were stopped in late 2010 — which we estimate may be as high as a quarter million — will likely be re-started and add to the numbers in early 2011.”

Nevada, Arizona, Florida post top state foreclosure rates
More than 9 percent of Nevada housing units (one in 11) received at least one foreclosure filing in 2010, giving it the nation’s highest state foreclosure rate for the fourth consecutive year despite a 5 percent decrease in foreclosure activity from 2009. Nevada foreclosure activity in December increased 18 percent from the previous month and was up 14 percent from December 2009. Fourth quarter foreclosure activity in Nevada decreased nearly 7 percent from the previous quarter but increased 19 percent from the fourth quarter of 2009.

Arizona registered the nation’s second highest state foreclosure rate for the second year in a row, with 5.73 percent of its housing units (one in 17) receiving at least one foreclosure filing in 2010, and Florida registered the nation’s third highest foreclosure rate, with 5.51 percent of its housing units (one in 18) receiving at least one foreclosure filing during the year.

Other states with 2010 foreclosure rates ranking among the nation’s 10 highest were California (4.08 percent), Utah (3.44 percent), Georgia (3.25 percent), Michigan (3.00 percent), Idaho (2.98 percent), Illinois (2.87 percent), and Colorado (2.51 percent).

California, Florida, Arizona, Illinois and Michigan account for half of national total
Five states accounted for 51 percent of the nation’s total foreclosure activity in 2010: California, Florida, Arizona, Illinois and Michigan. Together these five states documented nearly 1.5 million properties receiving a foreclosure filing during the year despite annual decreases in the three states with the most foreclosure activity.

A total of 546,669 California properties received a foreclosure filing in 2010, a decrease of nearly 14 percent from 2009 but still the largest state total. After hitting a two-year low in November, California foreclosure activity rebounded nearly 15 percent higher in December but was still down 18 percent from December 2009.

Florida posted the nation’s second biggest total in 2010, with 485,286 properties receiving a foreclosure filing — a 6 percent decrease from 2009. Florida foreclosure activity in December hit the lowest monthly level since July 2007, down 22 percent from the previous month and down nearly 54 percent from December 2009.

A total of 155,878 Arizona properties received a foreclosure filing in 2010, a 4 percent decrease from 2009 but the third biggest state total for the third straight year. Arizona foreclosure activity in December jumped nearly 31 percent higher from a 32-month low in November, but was still down nearly 33 percent from December 2009.

Illinois posted the fourth biggest state total, with 151,304 properties receiving a foreclosure filing in 2010, and Michigan posted the fifth biggest state total, with 135,874 properties receiving a foreclosure filing during the year. Foreclosure activity in both states increased about 15 percent from 2009.

Other states with 2010 totals among the 10 biggest in the country were Georgia (130,966), Texas (118,923), Ohio (108,160), Nevada (106,160), and New Jersey (64,808).

Report methodology
The RealtyTrac Year-End 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 year. Some foreclosure filings entered into the database during the year may have been recorded in the previous year. 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). For the annual and quarterly reports, if more than one foreclosure document is received for a property during the year or quarter, only the most recent filing is counted in the report. The annual, quarterly and monthly reports all check if the same type of document was filed against a property previously. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state where the property is located, the report does not count the property in the current year, quarter or month.

U.S. Foreclosure Market Data for Top 10 States – 2010

Rate RankState NameTotal Properties with FC Filings %Housing Units 1/every X HU %Change from 2009%Change from 2008–

U.S.

2,871,8912.23451.6723.231

Nevada

106,1609.4211-5.3036.642

Arizona

155,8785.7317-4.4933.333

Florida

485,2865.5118-6.0825.954

California

546,6694.0825-13.584.405

Utah

32,5203.442919.82119.206

Georgia

130,9663.253123.4253.627

Michigan

135,8743.003314.8528.118

Idaho

19,0882.983411.23124.259

Illinois

151,3042.873515.3852.0810

Colorado

54,0412.51406.987.23

U.S. Foreclosure Market Data for Top 10 States – Q4 2010

Properties with Foreclosure Filings Rate RankState NameNOD LISNTSNFSREOTotal1/every X HU (rate) %Change from Q3 10%Change from Q4 09–

U.S.

104,172132,175244,32488,552229,841799,064162-14.12-8.081

Nevada

13,910013,90107,96935,78031-6.8919.052

Arizona

55027,132012,79239,97968-18.58-12.143

California

73,072067,789033,924174,78577-8.50-15.354

Florida

043,643035,24431,478110,36580-29.72-23.095

Utah

3,63403,56703,21710,41891-2.6617.366

Georgia

0027,666011,23938,905103-5.6427.257

Michigan

9,122017,139015,27841,539109-9.890.558

Idaho

1,61602,90101,1275,644114-23.98-23.069

Illinois

024,27308,4578,85341,583127-13.01-13.3610

Colorado

53010,35205,31515,720137-3.656.92

U.S. Foreclosure Market Data for Top 10 States – Dec 2010

Properties with Foreclosure Filings Rate RankState NameNOD LISNTSNFSREOTotal1/every X HU (rate) %Change from Nov 10%Change from Dec 09–

U.S.

36,93538,78388,48323,69969,847257,747501-1.75-26.261

Nevada

4,76705,68303,02213,4728418.4814.422

Arizona

1009,17404,37713,56120130.60-32.703

California

24,389029,481012,04565,91520314.88-18.114

Michigan

5,03906,89004,13216,0612824.90-20.255

Utah

1,29401,09009473,331284-22.15-27.876

Idaho

624099304592,076309-2.67-47.737

Florida

010,84807,3347,45925,641343-22.15-53.648

Georgia

008,29502,74711,042365-23.44-14.909

Illinois

09,13402,1312,77714,0423768.51-21.2010

Colorado

2803,51201,5835,1234203.08-14.74

Report License
The RealtyTrac U.S. Foreclosure Market Report is the result of a proprietary evaluation of information compiled by RealtyTrac; the report and any of the information in whole or in part can only be quoted, copied, published, re-published, distributed and/or re-distributed or used in any manner if the user specifically references RealtyTrac as the source for said report and/or any of the information set forth within the report.

About RealtyTrac Inc.
RealtyTrac (http://www.realtytrac.com/) is the leading online marketplace of foreclosure properties, with more than 2 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate. RealtyTrac’s foreclosure data has also been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

Media Contacts:
Michelle Schneider
949.502.8300 Ext. 139
michelle.schneider@realtytrac.com

Christine Stricker
949.502.8300 Ext. 268
christine.stricker@realtytrac.com

Detailed & Historical Data:
Tyler White
949.502.8300 Ext. 158
tyler.white@realtytrac.com

Print Email < Back to Press Releases
Printed from www.RealtyTrac.com Comments Add Your Comment You must be logged in to leave a comment. Login | Register
Submit

Provide a Display Name

Before continuing, please provide a display name you would like to display for your comment. Once created, your Display Name cannot be altered, so be sure to choose wisely!

Continue
Send this article to a friend Friend’s Email:
Your Email:
Your Name:
Copy me
Submit Search Press Releases Search
Advertisement Most Read Foreclosure Activity Increases 4 Percent in Third Quarter
Foreclosure Activity Increases 4 Percent in July
Foreclosure Activity Increases 4 Percent in August
Third Quarter Foreclosure Activity Up in 65 Percent of U.S. Metro Areas But Down in Hardest-Hit Cities
2010 Foreclosure Activity Down in Hardest Hit Markets But Increases in 72 Percent of Major Metros
Foreclosure Properties

property image N 56th Ave # 320
Hollywood, FL 33021
Free with Trial
See Details »