Foreclosure Home Press Releases FORECLOSURE FILINGS INCREASE 35 PERCENT IN JANUARY

FORECLOSURE FILINGS INCREASE 35 PERCENT IN JANUARY

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Foreclosure Filings Higher Than in Any Month in 2006,
Up 42 Percent From January 2006

IRVINE, Calif. – Feb. 12, 2007 – RealtyTrac® (http://www.realtytrac.com/gateway_co.asp?accnt=137300), the leading online marketplace for foreclosure properties, today released its January 2007 U.S. Foreclosure Market Report, which shows that 148,425 foreclosure filings were reported during the month, an increase of 35 percent from the previous month and an increase of 42 percent from January 2006. The report also shows a national foreclosure rate of one foreclosure filing for every 779 U.S. households.

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 1,000,000 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.

“January’s foreclosure numbers represent the highest monthly number we’ve seen since we began issuing this report two years ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “The month-over-month increase is higher than what we saw last January, when foreclosures shot up 35 percent from the previous month; however, the year-over-year increase of 42 percent is just below the 45 percent annual increase we saw in January last year.” 

Nevada, Michigan, Georgia post top foreclosure rates
Nevada replaced Colorado as the state with the highest foreclosure rate thanks to a 41 percent increase in foreclosure filings from the previous month and a slight decrease in Colorado foreclosure filings. The state reported 3,115 foreclosure filings during the month, a foreclosure rate of one foreclosure filing for every 278 households — 2.8 times the national average.

A 70 percent increase in foreclosure activity propelled Michigan’s foreclosure rate to second highest among the states. The state reported 11,559 foreclosure filings, a foreclosure rate of one foreclosure filing for every 365 households. The state’s foreclosure total was the fourth highest reported by any state and more than twice the number reported in January 2006.

Georgia’s foreclosure rate — one foreclosure filing for every 372 households — ranked third highest among the states for the fourth month in a row. The state reported 8,328 foreclosure filings during the month, up 29 percent from the previous month and up 13 percent from January 2006.

Colorado’s foreclosure rate dropped to fourth highest for the month after claiming the top spot in nine out of 12 months in 2006. Other states with foreclosure rates among the nation’s 10 highest included California, Arizona, New Jersey, Texas, Ohio and Florida.

California, Texas, Florida post most foreclosure filings
California’s foreclosure total of 25,961 was the nation’s highest and represented a 106 percent increase from the previous month. The state’s foreclosure rate of one foreclosure filing for every 470 households registered above the national average and fifth highest among the states.

Texas documented the second highest foreclosure total of any state, with 14,728 foreclosure filings in January — a 4 percent increase from the previous month but an increase of less than 1 percent from January 2006. The state’s foreclosure rate of one foreclosure filing for every 547 households was eighth highest among the states.

Florida reported 11,709 foreclosure filings during the month, third highest among the states and a 41 percent increase from the previous month. The state’s foreclosure total was up 13 percent from January 2006, and its foreclosure rate of one foreclosure filing for every 624 households was the nation’s tenth highest.

Other states with foreclosure totals among the nation’s 10 highest included Michigan, Ohio, Georgia, Illinois, New Jersey, New York and Colorado.

Detroit, Greeley, Vallejo/Fairfield document highest metro foreclosure rates
Detroit documented the nation’s highest metro foreclosure rate, replacing Greeley, Colo., which had claimed the top spot for the five previous months. The Detroit metro area (Wayne County) reported 6,654 foreclosure filings during the month, more than twice the number reported in the previous month and a foreclosure rate of one foreclosure filing for every 124 households — more than seven times the national average.

Greeley, Colo., (Weld County) reported a 2 percent decrease in foreclosure activity in January, but the metro area’s foreclosure rate of one foreclosure filing for every 173 households still ranked second highest among the nation’s metro areas.

Vallejo/Fairfield metropolitan area (Solano County) documented a foreclosure rate of one foreclosure filing for every 188 households — the nation’s third highest metro foreclosure rate. The metro area reported 715 foreclosure filings during the month, up 69 percent from the previous month.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes entering some stage of foreclosure nationwide and by state over the preceding month. Data is also available at the individual county level. RealtyTrac’s report includes properties 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).

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 current news and information regarding foreclosure-related issues and trends, visit our blog at www.ForeclosurePulse.com.

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Order Customized Reports
Detailed and historical foreclosure data used to create the above report may be purchased through the RealtyTrac Data Licensing Department at 949.502.8300 Ext. 158. Aggregate data is available at the state, metro, county and zip code levels dating back to 2005, and address-level foreclosure records are also available historically.

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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