Foreclosures: Pick a State, Any State - Housing Tracker

Link of the Day

The Federal Reserve Bank of NY features ‘Dynamic Maps of Nonprime Mortgage Conditions in the U.S.’. You can zoom in to any state, county or even zip code (sometimes) to find out how many prime or subprime loans there are there; how many are current or delinquent; what kind of subprime loan or even the percentage of low FICO/ high loan-to-value in the area. The data is current as of the end of 2007.

Foreclosure Data

American Housing Market Still Sliding. “RealtyTrac reported a 112.0% year-over-year spike in the number of foreclosures [nationally]… There were 649,917 U.S. foreclosures during Q1’08, up 23.0% from Q4’07, and up 112.0% from Q1’07. Foreclosures increased in 46 of the 50 states on a year-over-year basis... Nevada was the state with the highest number of foreclosures, with one in every 54 of its households in foreclosure. California came in second with one in every 78 households and Arizona followed with one in every 95 households in foreclosure… Florida and California had 13 of the top 20 cities with the highest rates of foreclosure.” (Forbes, Apr. 29th)

N.C. Home Foreclosures Up 26% In 1Q. “RealtyTrac: Home foreclosures in North Carolina increased nearly 26% in Q1… There were 10,283 foreclosure filings -- default notices, auction sale notices or bank repossessions -- in the state in the last quarter. North Carolina had one foreclosure filing for every 392 households in the quarter, placing it No. 25 among the states in the rate of foreclosure.” (Business Journal of the Greater Triad Area, Apr. 29th)

Foreclosures Up In Louisiana. “RealtyTrac: Louisiana recorded a total of 1,938 foreclosure filings in Q1’08, up 70% from Q4’07 and up 31% from Q1’07. These figures include default notices, auction sale notices and bank repossessions, and not all of them will end with the owner losing his property. Louisiana ranked No. 37 among all states in the number of foreclosure notices filed in Q1.” (New Orleans Louisiana Business News, Apr. 29th)

Foreclosures Rise, But Still Few In Honolulu. “RealtyTrac’s Q1 2008 U.S. Foreclosure Market Report: Honolulu had one of the lowest foreclosure rates among the top 100 metropolitan areas in the U.S. during Q1’08. Honolulu ranked 99th for foreclosure filings of the top 100 metropolitan areas... Honolulu had a total of 155 foreclosures, or one filing for every 2,147, up 1.3% from Q4’07 and up 51.9% from Q1’07… There were 371 foreclosure filings in Hawaii during Q1’08.” (Pacific Business News, Apr. 29th)

Arizona Foreclosures Almost Double National Average In First Quarter. “Arizona now ranks as the third-hardest-hit state in the nation. One of every 95 homes in the state has been touched by foreclosure -- almost double the national average. A total of 27,404 Arizona homes had foreclosure filings, up nearly 245% from a year ago and 45% from Q4’07.” (Business Journal of Phoenix, Apr. 29th)

Cincinnati Foreclosures Up By Double Digits. “RealtyTrac: Cincinnati's foreclosure rate was the lowest of Ohio cities, but the metro area still ranked in the top 50 for foreclosures during Q1. The Tri-State ranked 46th of 100 cities, with one foreclosure for every 187 households. That was up by 12.5% from Q4’07 and up 62% y/o/y/. The Cleveland/Lorain/Elyria/Mentor area ranked 18th, with one foreclosure for every 105 households, up 50% y/o/y. Indianapolis was 24th, with one foreclosure for every 116 households, up 36%; Dayton was 31st, with one foreclosure for every 139 households, up 69%; Columbus was 32nd, with one foreclosure for every 144 households, up 54%.” (Business Courier of Cincinnati, Apr. 29th)

Buffalo Foreclosures Up Slightly In 1Q. “NY State: Metropolitan Buffalo had a slight rise of 2.73% in the year-over-year period with 677 filings recorded, or 1 out of every 768 households. Compared to Q4’07, foreclosures were up 44% locally -- nearly double the national increase of 23%… Among other Upstate metro areas, Syracuse placed 95th on the list, with one of every 909 properties but that is up a whopping 184.6% from last year and 99% from Q4’07. Albany was 86th, but its foreclosure rate jumped 447.7% in the past year to one out of every 622 properties.” (Buffalo Business First, Apr. 29th)

Empty Homes At 50-Year High. “Florida data firm RealEstat.com: Lenders filed notices of lawsuits on 1,765 Palm Beach County mortgages in March. Those are new filings, though… In 2007, more than 3,000 of those foreclosure cases started that process here…. RealtyTrac: Foreclosure filings were reported for 87,893 Florida properties during Q1’08… One in every 97 households… The highest rate among all Florida cities was Fort Lauderdale, where one in every 79 households received at least one type of foreclosure filing. Palm Beach County ranked No. 30 among regions with the highest foreclosure rate: One in every 133 households were in some state of foreclosure, a 123% hike from Q1’07.” (Palm Beach Post, Apr. 28th)

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Comments

[vrspace]

The link for non-prime mortgage info that you provided is fantastic -(it might be of value to make this a (semi-)permanent link on your housing tracker posts)

www.newyorkfed.org/mor.../

The appendicies are also an excellent resource:

www.newyorkfed.org/reg...