Foreclosure Home Press Releases DALLAS FORECLOSURE ACTIVITY UP 4 PERCENT IN SEPTEMBER

DALLAS FORECLOSURE ACTIVITY UP 4 PERCENT IN SEPTEMBER

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Dallas Foreclosure Rate Highest Among Nation’s Top Five Metros
Texas Foreclosure Activity Down 13 Percent

IRVINE, Calif. – Oct. 26, 2007 – The eight-county Dallas metropolitan area reported 5,453 foreclosure filings in September, a 4 percent increase from the previous month and the top foreclosure rate among five of the nation’s largest metropolitan areas, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The metro area’s foreclosure rate of one foreclosure filing for every 276 households was twice the national average and higher than the rates in New York, Chicago, Los Angeles and Philadelphia.

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.

“Foreclosure activity in the Dallas area moved upward slightly in September,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although the Dallas area did not experience the dramatic spike in foreclosure activity that other markets did in the past few months, foreclosure activity in the Dallas area still remains high.”

Dallas County foreclosure activity increases 14 percent
Dallas County reported 3,647 foreclosure filings in September, the most of any metro county and an increase of nearly 14 percent from the previous month. The county’s foreclosure rate of one new foreclosure filing for every 251 households was fourth highest among metro counties.

Denton County registered the metro area’s second highest foreclosure total, with 752 foreclosure filings reported in September. The county had a foreclosure rate of one foreclosure filing for every 276 households — fifth highest in the metro area. Collin County reported 525 foreclosure filings during the month, the third highest county total in the metro area.

Rockwall County posts metro’s top foreclosure rate
Rockwall County posted the Dallas metro’s top spot in terms of foreclosure rate in September. The county reported 162 foreclosure filings, a 56 percent increase from the previous month, and a foreclosure rate of one foreclosure filing for every 136 households — more than four times the national average. Kaufman County’s foreclosure activity decreased 12 percent in September and the county’s foreclosure rate of one foreclosure filing for every 208 households slipped to second highest in the metro area.

With one foreclosure filing for every 222 households, Ellis County documented the metro’s third highest county foreclosure rate in September. The county reported 210 foreclosure filings, up 14 percent from the previous month.

Texas foreclosure activity decreases 14 percent
Texas reported 14,681 foreclosure filings in September, down 14 percent from the previous month, but still nearly 23 percent above September 2006. The state’s total was fourth highest behind the totals in California, Florida and Ohio, and the state’s foreclosure rate of one foreclosure filing for every 615 households ranked it ninth nationwide.

A total of 219,850 foreclosure filings were reported nationwide in September, an 8 percent decrease from the previous month and a 96 percent increase from September 2006. The national foreclosure rate was one foreclosure filing for every 566 households.

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 – September 2007

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

United States

47,234

59,669

21,925

51,172

39,850

219,850

566

--

Texas

63

10,580

0

0

4,038

14,681

615

0.92

Dallas MSAD

20

4,130

0

0

1,303

5,453

276

2.01

Collin County, TX

3

477

0

0

45

525

477

1.17

Dallas County, TX

12

2,715

0

0

920

3,647

251

2.22

Delta County, TX

0

0

0

0

0

0

0

0.00

Denton County, TX

1

586

0

0

165

752

276

2.02

Ellis County, TX

3

173

0

0

34

210

222

2.51

Hunt County, TX

0

1

0

0

13

14

2,421

0.23

Kaufman County, TX

1

78

0

0

64

143

208

2.68

Rockwall County, TX

0

100

0

0

62

162

136

4.08

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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