Foreclosure Home Press Releases LOS ANGELES FORECLOSURE ACTIVITY UP 19 PERCENT IN OCTOBER

LOS ANGELES FORECLOSURE ACTIVITY UP 19 PERCENT IN OCTOBER

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IRVINE, Calif. – Nov. 26, 2007 – The Los Angeles metro area, comprising Los Angeles County, reported 9,767 foreclosure filings in October, a 19 percent increase from the previous month and elevating the area’s foreclosure rate to one foreclosure filing for every 342 households — the highest among five of the nation’s largest metropolitan areas and 1.6 times the national average, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The metro area’s foreclosure rate was higher than foreclosure rates in New York, Philadelphia, Chicago and Dallas.

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.

“Although outlying areas such as Riverside and San Bernardino counties are taking the brunt of the foreclosure hit in Southern California, many Los Angeles County homeowners are also sharing in the pain,” said James J. Saccacio, chief executive officer of RealtyTrac. “Nationally, five of the top 10 metropolitan foreclosure rates are in California.”

Inland Empire foreclosure rate continues to climb
The foreclosure rate in the Riverside-San Bernardino metropolitan area decreased 15 percent in October, but the region still documented the sixth highest metro foreclosure rate in the nation. The metro area reported 10,229 foreclosure filings during the month, a foreclosure rate of one new foreclosure filing for every 132 households — 4.2 times the national average.

Orange County documented a foreclosure rate of one foreclosure filing for every 416 households — 1.3 times the national average despite a 2 percent decrease in foreclosure activity in October. The county reported 2,443 foreclosure filings during the month.

San Diego County reported 4,285 foreclosure filings in October, a 9 percent decrease from the previous month and a foreclosure rate of one foreclosure filing for every 260 households — 2.1 times the national average.

California posts nation’s highest foreclosure total
California reported 50,401 foreclosure filings in October, a 2 percent decrease from the previous month but still more than any other state. The state’s foreclosure rate of one foreclosure filing for every 258 households jumped to second highest among the states and was more than twice the national average.

A total of 224,451 foreclosure filings were reported nationwide in October, a 2 percent decrease from the previous month and a 213 percent increase from October 2006. The national foreclosure rate was one foreclosure filing for every 555 households.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings nationwide, statewide and by county in the Los Angeles-Long Beach-Glendale 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.

Los Angeles Area Foreclosure Market Statistics by County – October 2007

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

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

--

California

28,755

10,475

0

0

11,171

50,401

258

2.15

 

 

 

 

 

 

 

 

 

Los Angeles MSAD (LA County)

5,473

2,507

0

0

1,787

9,767

342

1.62

Orange County

1,608

607

0

0

228

2,443

416

1.33

Riverside County

2,929

1,227

0

0

1,966

6,122

114

4.85

San Bernardino County

2,406

740

0

0

961

4,107

159

3.49

San Diego County

2,566

673

0

0

1,046

4,285

260

2.14

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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