Foreclosure Home Press Releases DALLAS FORECLOSURE ACTIVITY DOWN 14 PERCENT IN FEBRUARY

DALLAS FORECLOSURE ACTIVITY DOWN 14 PERCENT IN FEBRUARY

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Foreclosure Rate Drops to Third Highest Among Nation’s Top Five Metros
Texas Foreclosure Activity Down 17 Percent

IRVINE, Calif. – March 28, 2008 – The eight-county Dallas metropolitan area reported 2,849 properties with foreclosure filings in February, a 14 percent decrease from the previous month and a 23 percent decrease from February 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 529 Dallas metro households received a foreclosure filing in February. The metro area’s foreclosure rate was higher than the rates in New York and Philadelphia, but was lower than the foreclosure rate in Los Angeles and Chicago.

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million properties from nearly 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

“For the second consecutive month, the Dallas metropolitan area has registered a decrease in foreclosure activity,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unlike other major metropolitan areas, the Dallas metro did not experience the huge price appreciation that other major markets experienced in recent years and so had not become overextended and as susceptible to foreclosures.”

Dallas County foreclosure activity decreases 11 percent
Dallas County reported 1,841 properties with foreclosure filings in February, the most of any metro county, but down 11 percent from the previous month. One for every 497 Dallas County households received a foreclosure filing during the month, the fourth highest foreclosure rate among metro counties.

Collin County registered the metro area’s second highest foreclosure total, 501 properties with foreclosure filings reported in February. One for every 500 Collin County households received a foreclosure filing during the month — fifth highest in foreclosure rate in the metro area. Denton County reported 243 properties with foreclosure filings in February, the third highest county total in the metro area.

Kaufman County posts metro’s top foreclosure rate
Kaufman County posted the Dallas metro’s top foreclosure rate in February, with one for every 342 households receiving a foreclosure filing — 1.6 times the national average. The county reported 87 properties with foreclosure filings, a 7 percent decrease from the previous month and a 5 percent decrease from February 2007. Rockwall County’s foreclosure activity decreased 37 percent in February, but the county’s foreclosure rate — one for every 357 households received a foreclosure filing during the month — ranked second highest in the metro area.

With one for every 439 households receiving a foreclosure filing, Ellis County documented the metro’s third highest county foreclosure rate in February. The county reported 106 properties with foreclosure filings, a 19 percent decrease from the previous month.

Texas foreclosure activity decreases 17 percent
Texas reported 12,261 properties with foreclosure filings in February, down 17 percent from the previous month, and down 1 percent from February 2007. The state’s total was third highest behind the totals in California and Florida, but the state’s foreclosure rate — one for every 736 households received a foreclosure filing during the month — ranked No. 17 among the states and was below the national average.

A total of 223,651 properties with foreclosure filings were reported nationwide in February, a 4 percent decrease from the previous month, but still 60 percent ahead of the total reported for February 2007. One in every 557 U.S. households received a foreclosure filing during the month.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings nationwide, statewide and by county in the Dallas-Plano-Irving Metropolitan Statistical Area Division over the preceding month. RealtyTrac’s report includes documents filed in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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 current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com 

Dallas Area Foreclosure Market Statistics by County – February 2008

Area NODs NTSs NFSs LISs REOs Total 1 for every #HH /Natl Avg

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

--

Texas

159

7,226

0

0

4,876

12,261

736

0.87

Dallas MSAD

35

1944

0

0

870

2849

529

1.05

Collin County, TX

8

341

0

0

152

501

500

1.11

Dallas County, TX

21

1235

0

0

585

1841

497

1.12

Delta County, TX

0

0

0

0

0

0

0

0.00

Denton County, TX

1

224

0

0

18

243

855

0.65

Ellis County, TX

1

58

0

0

47

106

439

1.26

Hunt County, TX

1

2

0

0

6

9

3765

0.14

Kaufman County, TX

1

44

0

0

42

87

342

1.62

Rockwall County, TX

2

40

0

0

20

62

357

1.56

About RealtyTrac Inc.
Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, RealtyTrac Inc. (http://www.realtytrac.com/gateway_co.asp?accnt=137300), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal. For more information, visit http://www.realtytrac.com/gateway_co.asp?accnt=137300.

###

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


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