US foreclosure activity increases 6 percent in February, Vermont second lowest

first_imgRealtyTrac(R) (www.realtytrac.com(link is external)), the leading online marketplace for foreclosure properties, today released its February 2009 U.S. Foreclosure Market Report(TM), which shows foreclosure filings – default notices, auction sale notices and bank repossessions – were reported on 290,631 U.S. properties during the month, an increase of nearly 6 percent from the previous month and an increase of nearly 30 percent from February 2008. The report also shows one in every 440 U.S. housing units received a foreclosure filing in February.Vermont had the second lowest rate in the nation (ranked 49th) and Nebraska was ranked 50th. New Hampshire was 19th, Massachusetts 26th, Connecticut 14th, Rhode Island 30th, Maine 39th, and New York was 35th.”The increase in foreclosure activity from January to February is somewhat surprising, given that many of the foreclosure prevention efforts and moratoria in place in January were extended through most of February as well,” said James J. Saccacio, chief executive officer of RealtyTrac. “There were some notable exceptions to this: a 45-day voluntary moratorium in Florida expired at the end of January, and foreclosure activity there was up 14 percent from the previous month; and many New York foreclosure proceedings delayed by a new law for an extra 90 days appear to have hit the system in February, when the state’s foreclosure activity increased 23 percent from the previous month.”Nevada, Arizona, California post top state foreclosure ratesWith one in every 70 housing units receiving a foreclosure filing in February, Nevada continued to document the nation’s top state foreclosure rate. Foreclosure filings were reported on 15,783 Nevada properties during the month, a 9 percent increase from the previous month and a 156 percent increase from February 2008.Arizona posted the nation’s second highest state foreclosure rate in February, with one in every 147 housing units receiving a foreclosure filing during the month, and California posted the nation’s third highest state foreclosure rate, with one in every 165 housing units receiving a foreclosure filing.Other states with foreclosure rates ranking among the nation’s 10 highest were Florida, Idaho, Michigan, Illinois, Georgia, Oregon and Ohio.California, Florida, Arizona post highest foreclosure totalsForeclosure filings were reported on 80,775 California properties in February, the most of any state and a 5 percent increase from the previous month. The state’s foreclosure activity increased 51 percent from February 2008, with auction sale notices increasing nearly 179 percent – the most of any category on a year-over-year basis.Florida foreclosure activity increased nearly 14 percent from the previous month and 43 percent from February 2008 – thanks in large part to a nearly 158 percent year-over-year increase in auction sale notices and a 128 percent year-over-year increase in bank repossessions. With 46,391 properties receiving a foreclosure filing, the state posted the nation’s second highest state total in February.Arizona posted the third highest state total in February, with 18,119 properties receiving a foreclosure filing during the month – a 23 percent increase from the previous month and an 88 percent increase from February 2008.Nevada, Illinois, Michigan, Ohio, Texas, Georgia and Virginia also reported foreclosure totals that were among the nation’s 10 highest.Sunbelt cities post top metro foreclosure ratesOne in every 60 Las Vegas housing units received a foreclosure filing in February, giving the city the nation’s highest foreclosure rate among metro areas with a population of at least 200,000. The city’s foreclosure rate was more than seven times higher than the national average. Another Nevada metro area posted a foreclosure rate in the top 10: Reno-Sparks ranked No. 8, with one in every 108 housing units receiving a foreclosure filing.The Cape Coral-Fort Myers, Fla., metro area documented the second highest foreclosure rate in February, with one in every 65 housing units receiving a foreclosure filing during the month.Six California cities registered foreclosure rates among the top 10: Stockton at No. 3 (one in 67 housing units), Modesto at No. 4 (one in 68), Merced at No. 5 (one in 74), Riverside-San Bernardino at No. 6 (one in 80), Bakersfield at No. 7 (one in 85), and Vallejo-Fairfield at No. 10 (one in 111).With one in every 110 housing units receiving a foreclosure filing, the Phoenix metro area posted the ninth highest foreclosure rate in February.Report methodologyThe RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month – broken out by type of filing at the state and national level. Data is also available at the individual county level. 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 filed against a property during the month or quarter, 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 or quarter. 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. U.S. Foreclosure Market Data by State – Feb 2009 Properties with Foreclosure Filings Rate State Rank Name NOD LIS NTS NFS REO — U.S. 54,064 55,509 78,234 28,729 74,095 42 Alabama 0 0 312 0 401 32 Alaska 0 0 112 0 91 2 Arizona 3 0 12,258 0 5,858 18 Arkansas 162 0 1,050 0 404 3 California 43,072 0 18,831 0 18,872 11 Colorado 4 0 3,126 0 1,089 14 Connecticut 0 1,793 3 118 306 33 Delaware 0 0 0 203 70 District of Columbia 135 0 180 0 64 4 Florida 0 27,492 4 12,923 5,972 8 Georgia 0 0 7,073 0 3,112 27 Hawaii 102 0 364 0 71 5 Idaho 1,003 0 669 0 92 7 Illinois 0 6,882 1 4,362 2,973 13 Indiana 0 1,386 3 1,603 1,414 37 Iowa 0 0 215 0 364 28 Kansas 0 149 1 375 646 43 Kentucky 0 95 0 219 284 40 Louisiana 0 2 4 494 178 39 Maine 115 0 124 0 22 16 Maryland 0 2,183 0 470 523 26 Massachusetts 0 1,498 0 486 956 6 Michigan 0 0 7,838 0 4,726 23 Minnesota 5 0 1,089 0 1,480 44 Mississippi 0 0 173 0 121 21 Missouri 3 0 1,592 0 1,534 46 Montana 0 0 10 0 44 50 Nebraska 0 0 0 3 10 1 Nevada 8,406 0 4,560 0 2,817 19 New Hampshire 0 0 586 0 153 29 New Jersey 0 1,783 2 840 654 38 New Mexico 0 133 0 140 100 35 New York 0 3,200 2 729 370 36 North Carolina 217 0 492 0 1,330 47 North Dakota 0 0 0 15 22 10 Ohio 0 4,453 2 3,376 3,400 34 Oklahoma 261 0 542 0 227 9 Oregon 33 0 2,803 0 772 31 Pennsylvania 0 1,686 5 1,383 1,118 30 Rhode Island 0 0 197 0 212 20 South Carolina 0 1,129 1 393 950 48 South Dakota 0 0 0 30 2 17 Tennessee 0 0 1,994 0 1,697 24 Texas 19 0 5,943 0 4,565 12 Utah 523 0 674 0 608 49 Vermont 0 0 0 0 11 15 Virginia 1 0 3,198 0 1,624 25 Washington 0 0 2,055 0 966 45 West Virginia 0 0 90 0 21 22 Wisconsin 0 1,645 0 567 774 41 Wyoming 0 0 56 0 25 % Change % Change Rate State 1/every X from from Rank Name Total HU (rate) Jan 09 Feb 08 — U.S. 290,631 440 5.92 29.95 42 Alabama 713 2,997 -22.50 0.99 32 Alaska 203 1,390 21.56 37.16 2 Arizona 18,119 147 23.48 87.76 18 Arkansas 1,616 797 6.60 16.01 3 California 80,775 165 5.23 50.62 11 Colorado 4,219 504 -2.41 -37.38 14 Connecticut 2,220 648 34.46 1.00 33 Delaware 273 1,424 56.90 19.74 District of Columbia 379 750 83.09 11.47 4 Florida 46,391 188 13.79 42.97 8 Georgia 10,185 389 2.81 33.47 27 Hawaii 537 944 59.35 275.52 5 Idaho 1,764 358 16.67 129.39* 7 Illinois 14,218 369 -1.59 62.34 13 Indiana 4,406 631 -3.29 -14.40 37 Iowa 579 2,296 -14.48 22.41 28 Kansas 1,171 1,041 76.09 156.80 43 Kentucky 598 3,187 -10.88 25.63 40 Louisiana 678 2,742 39.79 4.31 39 Maine 261 2,669 -15.26 28.57 16 Maryland 3,176 730 -14.09 -20.92 26 Massachusetts 2,940 926 -12.55 -24.73 6 Michigan 12,564 360 10.04 14.67 23 Minnesota 2,574 895 36.48 63.84 44 Mississippi 294 4,268 6.91 98.65* 21 Missouri 3,129 846 26.73 -9.80 46 Montana 54 8,065 10.20 -70.17 50 Nebraska 13 60,062 -58.06 -94.37 1 Nevada 15,783 70 9.27 155.93 19 New Hampshire 739 804 -1.47 14.93 29 New Jersey 3,279 1,067 -34.49 -41.43 38 New Mexico 373 2,311 127.44 -25.99 35 New York 4,301 1,846 23.03 -17.97 36 North Carolina 2,039 2,023 -14.54 -49.68 47 North Dakota 37 8,393 -28.85 68.18 10 Ohio 11,231 451 0.29 8.14 34 Oklahoma 1,030 1,576 5.86 -42.49 9 Oregon 3,608 446 -20.02 127.78 31 Pennsylvania 4,192 1,307 13.85 73.58* 30 Rhode Island 409 1,102 -45.10 -8.30 20 South Carolina 2,473 818 0.41 254.30* 48 South Dakota 32 11,164 -17.95 23.08 17 Tennessee 3,691 738 0.79 -25.57 24 Texas 10,527 896 7.92 -14.14 12 Utah 1,805 513 0.78 40.14 49 Vermont 11 28,312 83.33 175.00* 15 Virginia 4,823 679 -10.12 15.19 25 Washington 3,021 908 -3.79 36.08 45 West Virginia 111 7,952 50.00 184.62 22 Wisconsin 2,986 857 10.63 24.78 41 Wyoming 81 2,992 -2.41 26.56 *Actual increase may not be as high due to data collection changes or improvementsAbout RealtyTrac Inc.RealtyTrac (www.realtytrac.com(link is external)) is the leading online marketplace of foreclosure properties, with more than 1.5 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.IRVINE, Calif., March 11 /PRNewswire/SOURCE RealtyTraclast_img read more

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Gleneagles in line for Deauville

first_imgAidan O’Brien would like to run dual 2000 Guineas winner Gleneagles in the Prix Jacques le Marois at Deauville next weekend. The three-year-old was a late defector from the Sussex Stakes at Goodwood as the ground was not deemed fast enough and any rain in the lead up to the race would see him staying at home. The Galileo colt holds an entry in the 10-furlong Juddmonte International at York but he has not yet raced over anything further than a mile. “We are looking at Deauville (Prix Jacques le Marois) and will be watching the weather forecast this week. If they don’t get rain we will look hard at going there,” said O’Brien. “He was ready to run in the Sussex Stakes at Goodwood and is in good form.” center_img Press Associationlast_img read more

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Teens get air time

first_img“OK, put your feet on the rudder pedals and look straight to the end of the runway,” volunteer instructor Ron Williams, a lifelong recreational pilot, told Brandon Miller as the teen manned the thick black controls of the shiny, red-paneled simulator. “Uh-oh, I think I’m gonna crash,” Brandon said, his small plane, a Cessna 172 – tough to steer for a first-timer – veering speedily toward a grassy area alongside the runway. “Right rudder! Right rudder!” Williams urged, directing his student to correct the plane’s direction with a few taps to the foot controls. Brandon straightened out just in time and was soon soaring high above the South Bay (the machines are programmed to fly out of Hawthorne Municipal Airport). “And, lift off,” Williams said. “Good job.” On a separate simulator a few feet away, Max Gafford, 15, experimented a little while, awaiting a Williams tutorial of his own. “Oh, that’s so James Bond,” Max exclaimed as he did a tight turn and then rolled his plane over, before proceeding to fly low over several buildings and even between trees. “Tight!” Williams arrived midflight and looked on over Max’s shoulder. Eventually circling around and starting to descend for a landing, Max missed the runway and came down in the distance. “Well, you almost made it,” Williams said with a laugh, clapping a hand against Max’s shoulder. “At least you found the airport.”160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Some local high schoolers got to fly themselves through the friendly skies one recent afternoon. The friendly faux skies, that is. About 20 students – all sophomores at El Segundo High – each took a turn on state-of-the-art flight simulators, courtesy of Los Angeles World Airports’ Flight Path Learning Center and its long-running Aviation Career Education, or ACE, program, which exposes kids to options in the industry. The center hosts the course four times yearly – twice for middle-school students and twice for high-school students. Last week it was members of an El Segundo AVID, or Advancement Via Individual Determination, class. Over the course of one week, the teens toured such places as the LAX bomb squad’s headquarters and an in-flight catering company’s kitchen, getting a behind-the-scenes look at an array of aviation industry jobs. On Thursday afternoon, though, it was all about air time. last_img read more

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