Foreclosure Home Press Releases DALLAS FORECLOSURES DECREASE 4 PERCENT IN DECEMBER

DALLAS FORECLOSURES DECREASE 4 PERCENT IN DECEMBER

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Dallas Foreclosure Rate More Than 3.5 Times National Average
Texas Posts Nation’s Highest Foreclosure Total

IRVINE, Calif. – Jan. 15, 2007 – Dallas foreclosure filings dipped 4 percent in December, giving the city its lowest quarterly foreclosure total of the year in the fourth quarter, but the city’s foreclosure rate continued to rank highest among foreclosure rates in five of the nation’s largest metropolitan areas, according to the RealtyTrac™ U.S. Foreclosure Market Report.

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RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 800,000 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.

The eight-county metropolitan area reported 4,481 new foreclosure filings during the month, a foreclosure rate of one new foreclosure filing for every 297 households — more 3.5 times the national average. That brought the fourth quarter total to 11,919 and the 2006 total to 51,730.

“The December numbers punctuate a fourth quarter in which Dallas foreclosure activity was lower than in any other quarter of 2006, an impressive accomplishment given that the nation as a whole posted fourth-quarter numbers higher than in any of the previous three quarters,” said James J. Saccacio, chief executive officer of RealtyTrac. “While Dallas continues to maintain a high foreclosure rate, it appears foreclosures may have reached a sort of saturation point in the region’s current real estate climate.”

The Dallas foreclosure rate claimed the top spot among five of the nation’s top metropolitan areas for the second month in a row. It registered higher than Chicago, Philadelphia, Los Angeles and New York foreclosure rates.

Dallas real estate agent Jon Callaway, a member of the RealtyTrac Agent Network™, said that although the area’s foreclosure rate is high, lowering interest rates and discounts from home builders are spurring increased activity in the market.

“The market is still doing a pretty good job soaking up this extra inventory," he said. "I believe these lower rates will help us in the DFW area bring first time homebuyers back in the game. Investor activity is still moving at a respectable level. We are seeing more inner city buys, fix-ups and flips. Multi-family is tightening up as well as commercial. And there are still great discounted opportunities with many of the builders around the metroplex.”

Dallas and Collin counties report most new foreclosure filings
Dallas County reported 2,879 new foreclosure filings during the month, the most of any county in the metro area and an increase of 2 percent from the previous month. The county’s foreclosure rate of one new foreclosure filing for every 297 households was more than 3.5 times the national average.

Despite a 7 percent decrease in foreclosure activity, Collin County documented the area’s second highest number of new foreclosure filings in December — 716. The county’s foreclosure rate of one new foreclosure filing for every 272 households was 3.9 times the national average.

Rockwall and Ellis counties post metro’s highest foreclosure rates
Rockwall County continued to lead the metro area in terms of foreclosure rate, with one new foreclosure filing for every 172 households — more than 6 times the national average and the sixth highest county foreclosure rate in the nation. The county reported 89 new foreclosure filings, a decrease of more than 17 percent from the previous month.

Ellis County foreclosure activity decreased more than 36 percent, but the county still registered the metro area’s second highest foreclosure rate — one new foreclosure filing for every 268 households.

Texas posts nation’s highest foreclosure total
Texas reported 14,195 new foreclosure filings in December, an increase of nearly 4 percent from the previous month and the most of any state for the first time in four months. The state’s foreclosure rate of one new foreclosure filing for every 567 households was 1.9 times the national average and fifth highest among the states.

New foreclosure filings nationwide totaled 109,652 in December, a decrease of nearly 9 percent from the previous month and a foreclosure rate of one new foreclosure filing for every 1,055 households. Foreclosure activity was still up nearly 35 percent from December 2005.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, statewide and by county in the Dallas Metropolitan Statistical Area Division over the preceding month. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures – Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures – 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 repossessed by a bank).

 

Dallas Area Foreclosure Market Statistics by County – Dec 2006

Geography NOD NTS NFS LIS REO Total 1 in every # households /National Average

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

--

Texas

8

10,702

0

0

3,485

14,195

567

1.9

Dallas MSAD

2

3,965

0

0

514

4,481

297

3.5

Collin County, TX

0

677

0

0

39

716

272

3.9

Dallas County, TX

0

2,521

0

0

358

2,879

297

3.6

Delta County, TX

0

0

0

0

0

0

--

--

Denton County, TX

2

495

0

0

59

556

302

3.5

Ellis County, TX

0

145

0

0

1

146

268

3.9

Hunt County, TX

0

1

0

0

0

1

32,490

--

Kaufman County, TX

0

55

0

0

39

94

278

3.8

Rockwall County, TX

0

71

0

0

18

89

172

6.1

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/), 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/.

###

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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