This document summarizes residential foreclosure and vacancy trends in Kent County, Michigan from 2004 to mid-2010. It finds that the number of foreclosures peaked in 2008 and 2009 before declining in 2010, with over 16,000 cumulative foreclosures county-wide since 2004. Vacancy rates measured by USPS data also peaked in 2009 before declining, with Grand Rapids seeing the most vacant addresses which averaged over 400 days empty. The report analyzes trends in cities and neighborhoods within Kent County to understand local impacts of foreclosures and vacancies.

1. Residential Foreclosure Quarter Update
Presented to Kent County Foreclosure Response
10.07.2010

2. State of Residential Foreclosures in Kent County

3. • Provider: Kent County Bureau of Equalization
• Description: Sheriff’s Sales
• Geographic Extent: Kent County, MI
• Data Period: January 1st, 2004 – July 30th, 2010
• Level of Detail: Property Address
Foreclosure Data Technical Sheet:

4. 0
200
400
600
800
1,000
1,200
2004-Q1
2004-Q2
2004-Q3
2004-Q4
2005-Q1
2005-Q2
2005-Q3
2005-Q4
2006-Q1
2006-Q2
2006-Q3
2006-Q4
2007-Q1
2007-Q2
2007-Q3
2007-Q4
2008-Q1
2008-Q2
2008-Q3
2008-Q4
2009-Q1
2009-Q2
2009-Q3
2009-Q4
2010-Q1
2010-Q2
Numberof Residential Foreclosures,2004 - 2010-Q2
Kent County and Selected Cities
KentCounty
GrandRapids
Wyoming
Kentwood
Lowell

5. 0.00
0.20
0.40
0.60
0.80
1.00
1.20
2004-Q1
2004-Q2
2004-Q3
2004-Q4
2005-Q1
2005-Q2
2005-Q3
2005-Q4
2006-Q1
2006-Q2
2006-Q3
2006-Q4
2007-Q1
2007-Q2
2007-Q3
2007-Q4
2008-Q1
2008-Q2
2008-Q3
2008-Q4
2009-Q1
2009-Q2
2009-Q3
2009-Q4
2010-Q1
2010-Q2
ResidentialForeclosureRates, 2004 - 2010-Q2
Kent County vs. Grand Rapids and Selected Suburbs
KentCounty
GrandRapids
Wyoming
Kentwood
Lowell

6. 1.1
1.8
1.5
1.1
1.3
1.0
1.5
1.4
1.0
1.0
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
Kent County Grand Rapids Wyoming Kentwood Lowell
ForeclosureRate(per100)
KentCounty & Selected Cities
Residential Foreclosures:first6 months (2004 - 2010)
2004 2005 2006 2007 2008 2009 2010
2nd
Highest
2nd
Highest
2nd
Highest
2nd
Highest
3rd
Highest

7. Residential Foreclosure Trends in Kent County and selected cities:
Key Performance Indicators Kent County Grand Rapids Wyoming Kentwood Lowell
Number of Residential Units 180,737 55,332 21,539 12,106 1,119
Res. Foreclosures: July 2008 – June 2009 3,136 1,468 554 243 21
Res. Foreclosures: July 2009 – June 2010 3,301 1,474 583 225 20
Annual Percent Change 5.3 0.4 5.2 -7.4 -4.8
First 6 months: January – June 2009 1,553 707 292 128 10
First 6 months: January – June 2010 1,795 846 304 127 11
Percent Change 15.6 19.7 4.1 -0.8 10.0
Total 2004-2010YTD* (cumulative) 16,674 8,020 2,745 1,104 124
% 2004-2010YTD* (cumulative) 9.2 14.5 12.7 9.1 11.1

8. Data Period:
JAN 1st, 2009-MAY 07th, 2010
Wyoming
Kentwood
Lowell
Grand Rapids

9. Data Period:
JAN 1st, 2009-JULY 30th, 2010
Wyoming
Kentwood
Lowell
Grand Rapids

10. 1.8
2.4
3.6
1.0
3.2
1.5
2.2 2.3
2.3
2.5
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
Grand Rapids West Grand Oakdale Alger Heights Garfield Park
ForeclosureRate(per100hu)
Grand Rapids & Selected Neighborhoods
Grand Rapids Residential Foreclosures:first6 months (2004 - 2010)
2004 2005 2006 2007 2008 2009 2010
2nd
Highest
2nd
Highest
Highest
2nd
Highest

11. Residential Foreclosure Trends in selected Grand Rapids
Neighborhoods
Key Performance Indicators Grand Rapids West Grand Oakdale Alger Heights Garfield Park
Number of Residential Units 55,332 5,195 704 1,622 4,654
Res. Foreclosures: July 2008 – June 2009 1,468 199 43 38 245
Res. Foreclosures: July 2009 – June 2010 1,474 187 26 55 217
Annual Percent Change 0.4 -6.0 -39.5 44.7 -11.4
First 6 months: January – June 2009 707 106 21 25 92
First 6 months: January – June 2010 846 116 16 38 118
Percent Change 19.7 9.4 -23.8 52.0 28.3
Total 2004-2010YTD* (cumulative) 8,020 1,009 214 233 1,065
% 2004-2010YTD* (cumulative) 14.5 19.4 30.4 14.4 22.9

12. Data Period:
JAN 1st, 2009-MAY 07th, 2010
West Grand
Oakdale
Garfield Park
Alger Heights

13. Data Period:
JAN 1st, 2009-JULY 30th, 2010
West Grand
Oakdale
Garfield Park
Alger Heights

14. Measuring Residential Vacant Properties Using
USPS Administrative Data on Address Vacancies

15. • Provider: United States Postal Service & U.S. Department of
Housing and Urban Development (HUD)
• Description: USPS address database
• Geographic Extent: United States
• Data Period: 2008 Q2 – 2010 Q2
• Level of Detail: Census Tract
USPS Vacant Address Data Technical Sheet:

16. 6.4
7.3
8.1
8.4
8.0
7.3
7.8
7.4
9.4
1.6 1.6 1.8 1.9 1.9
1.8 1.9 1.8
2.6
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
2008-Q2 2008-Q3 2008-Q4 2009-Q1 2009-Q2 2009-Q3 2009-Q4 2010-Q1 2010-Q2
PercentVacant-KentCounty
PercentVacant-GrandRapids
Percent USPS Vacant Addresses
Grand Rapids
Kent County (excludes Grand Rapids)
(4,390)
(5,007)
(5,557)
(5,746)
(5,537)
(5,085)
(5,459)
(5,134)
(6,609)
(2,379) (2,500)
(2,716)
(2,918) (3,039)
(2,736) (2,889) (2,915)
(4,396)

17. Residential USPS Vacant Addresses Trends
Key Performance Indicators
Grand Rapids
(previous qtr.)
Kent County
excludes Grand Rapids
(previous qtr.)
1. Total Number of Residential Vacant Properties 2010-Q2 (2010-Q1) 6,609 (5,134) 4,396 (2,915)
Percent Change: 2010-Q1 to 2010-Q2 (2009-Q4 – 2010-Q1) 28.7 (-6.0) 50.8 (0.9)
2. Average Res. Vacant Days: 2010-Q2 (2010-Q1) 413 (558) 273 (375)
Percent Change: 2010-Q1 to 2010-Q2 (2009-Q4 – 2010-Q1) -26.0 (11.7) -27.2 (0.6)
3. In-Service - Previously Vacant: 2010-Q2 (2010-Q1) 542 (383) 267 (223)
Percent Change: 2010-Q1 to 2010-Q2 (2009-Q4 – 2010-Q1) 41.5 (37.9) 19.7 (0)

18. 738
904
1,163
1,309
1,112 1,104
617
383
542
386
593
909
695
605
680
223 223 267
200
300
400
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
200
300
400
500
600
700
800
900
1,000
1,100
1,200
1,300
1,400
2008-Q2 2008-Q3 2008-Q4 2009-Q1 2009-Q2 2009-Q3 2009-Q4 2010-Q1 2010-Q2
NumberofUSPSAddresses
NumberofUSPSAddresses
Number of In-Service USPS Addresses (Previously Vacant)
Grand Rapids
Kent County (excludes Grand Rapids)

19. 422
390
367
403
450
534
500
558
413
286 284 278
287
321
354
373 375
273
0
100
200
300
400
500
600
0
100
200
300
400
500
600
2008-Q2 2008-Q3 2008-Q4 2009-Q1 2009-Q2 2009-Q3 2009-Q4 2010-Q1 2010-Q2
InServiceAddresses-PreviouslyVacant
PercentofResidentialVacantAddresses
Average Number of Days a USPS Address Remains Vacant
Grand Rapids
Kent County (excludes Grand Rapids)

20. Data Period:
Quarter 2 ending June 30, 2008
Wyoming
Kentwood
Lowell
Grand Rapids

21. Data Period:
Quarter 2 ending June 30, 2010
Wyoming
Kentwood
Lowell
Grand Rapids

22. Thank you!
Contact:
Gustavo Rotondaro, Associate Director
T. 616.331.7591
E. rotondag@gvsu.edu
Presented to Kent County Foreclosure Response
10.07.2010