Nebraska Foreclosure Activity Falls in April

Courtesy of RealtyTrac

Statewide foreclosure filings down 47 percent from March
Monthly foreclosure activity in Nebraska decreased in April, down 47 percent from the previous month to 277 properties with foreclosure filings. This latest state total also represents a 135 percent year-over-year increase in foreclosure filings from April 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

“Nebraska foreclosures fell nearly 50 percent in April,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decline was in default notices, which dropped 68 percent for the month. The state currently holds the third lowest unemployment rate in the country and had higher-than-average home sales during 2009.”

Nebraska ranked 45th in the country in total foreclosures reported for the month. With one in every 2,839 housing units receiving a foreclosure filing, its foreclosure rate ranked 45th among the 50 states.

Saline County posts top foreclosure rate for April
Saline County posted the highest county foreclosure rate in Nebraska for April, with one in every 1,158 housing units receiving a foreclosure filing — 2.5 times the state average. Douglas County came in second, with one in every 1,260 housing units receiving a foreclosure filing — 2.3 times the state average. Saunders County was third, with one in every 1,529 housing units receiving a foreclosure filing — 1.9 times the state average.

Douglas County led the state in total foreclosures for April
Douglas County led the way, reporting 170 properties with foreclosure filings for the month. Lancaster County came in second highest, documenting 27 properties with foreclosure filings. Reporting 17 properties with foreclosure filings for the month, Sarpy County ranked third highest. Cass County was fourth, reporting six properties with foreclosure filings, while Saunders County came in fifth, reporting 6 properties with foreclosure filings.

State contributes less than 1 percent to nation’s month foreclosure total
Nebraska accounted for less than 1 percent of the 333,837 properties with foreclosure filings reported nationwide in April. Total U.S. activity declined more than 9 percent from the previous month and was 2 percent below the level reported in April 2009. One in every 387 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.
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