Foreclosure Home Press Releases Q3 2007 MSA FORECLOSURE REPORT

STOCKTON, DETROIT, RIVERSIDE-SAN BERNARDINO POST TOP METRO FORECLOSURE RATES IN Q3

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California, Florida and Ohio Cities Account for 17 of Top 25 Metro Foreclosure Rates

IRVINE, Calif. – Nov. 14, 2007 – RealtyTrac® (realtytrac.com), the leading online marketplace for foreclosure properties, today released its Q3 2007 Metropolitan Foreclosure Market Report, which shows Stockton, Calif., Detroit and Riverside-San Bernardino, Calif., documented the three highest foreclosure rates among the nation’s 100 largest metropolitan areas during the third quarter.

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 cities in just three states — California, Ohio and Florida — accounted for more than two-thirds of the top 25 metro foreclosure rates, increasing foreclosure activity was not limited to just a few hot spots,” said James J. Saccacio, chief executive officer of RealtyTrac. “In fact, 77 out of the top 100 metro areas reported more foreclosure filings in the third quarter than they had in the previous quarter. Still, there continue to be pockets of the country — most noticeably metro areas in the Carolinas, Virginia and Texas — that have thus far dodged the foreclosure bullet.”

California, Ohio, Florida cities dominate top metro foreclosure rates
Stockton, Calif., documented one foreclosure filing for every 31 households during the quarter, the highest foreclosure rate among the nation’s 100 largest metro areas. A total of 7,116 foreclosure filings on 4,409 properties were reported in the metro area during the quarter, up more than 30 percent from the previous quarter.

Detroit’s third-quarter foreclosure rate of one foreclosure filing for every 33 households ranked second highest among the nation’s 100 largest metro areas. A total of 25,708 foreclosure filings on 16,079 properties were reported in the metro area during the quarter, more than twice the number of filings reported in the previous quarter.

The Riverside-San Bernardino, Calif., metropolitan area in Southern California documented the nation’s third highest metro foreclosure rate, one foreclosure filing for every 43 households. A total of 31,661 foreclosure filings 20,664 properties were reported in the metro area during the quarter, up more than 30 percent from the previous month.

Other cities in the top 10 metro foreclosure rates: Fort Lauderdale, Fla.; Las Vegas; Sacramento, Calif.; Cleveland; Miami; Bakersfield, Calif.; and Oakland, Calif. California cities accounted for seven of the top 25 metro foreclosure rates, while Florida and Ohio each accounted for five of the top 25 spots.

Riverside-San Bernardino, Los Angeles, Detroit report most foreclosure filings
The Riverside-San Bernardino metropolitan area reported the most foreclosure filings during the quarter, followed by Los Angeles, with 29,501 filings on 18,043 properties. The Los Angeles foreclosure rate of one foreclosure filing for every 113 households ranked No. 26 among the nation’s 100 largest metro areas. Detroit reported the third highest number of foreclosure filings during the quarter.

Atlanta’s foreclosure filing total of 21,695 on 18,940 properties was the fourth highest foreclosure filing total, and the metro area’s foreclosure rate of one foreclosure filing for every 92 households ranked No. 18 among the top 100 metro areas.

Other cities with foreclosure filing totals among the 10 highest were Phoenix, Fort Lauderdale, Fla., Cleveland, Chicago; Miami and Sacramento, Calif.

Report methodology
The RealtyTrac Metro Foreclosure Market Report provides the total number of foreclosure filings by metropolitan area, along with the number of households per foreclosure filing. The household numbers are based on the U.S. Census Bureau’s 2005 estimates of total housing units.

Beginning with the Midyear 2007 report, the report also includes counts of properties with at least one foreclosure filing reported against them. This new metric only counts a property once, even if there were multiple foreclosure actions filed against the property during the time period covered by the report.

Data is also available at the individual county level. RealtyTrac’s report includes documents filed in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — 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).

 

Foreclosure Activity for the Nation’s 100 Largest MSAs – Q3 2007

    Foreclosure Filings Properties with Filings
Rate Rank MSA Total Filings 1 filing for every #HH Properties with Filings Pct. Change from Q2 2007 Pct. Change from Q3 2006

1

STOCKTON, CA

7,116

           31

4,409

31.6

465.3

2

DETROIT/LIVONIA/DEARBORN, MI

25,708

           33

16,079

91.7

93.4

3

RIVERSIDE/SAN BERNARDINO, CA

31,661

           43

20,664

39.1

267.9

4

FORT LAUDERDALE, FL

16,595

           48

9,367

89.8

127.4

5

LAS VEGAS/PARADISE, NV

14,948

           48

11,482

28.7

200.3

6

SACRAMENTO, CA

15,479

           48

9,241

34.4

408.0

7

CLEVELAND/LORAIN/ELYRIA /MENTOR, OH

16,332

           57

11,821

30.3

178.5

8

MIAMI, FL

15,484

           60

10,232

42.7

82.0

9

BAKERSFIELD, CA

3,947

           64

2,824

73.4

361.4

10

OAKLAND, CA

13,245

           71

8,062

71.0

268.8

11

AKRON, OH

3,992

           76

2,941

11.4

128.0

12

DENVER/AURORA, CO

13,179

           77

7,751

3.6

28.3

13

FRESNO, CA

3,687

           79

2,434

40.9

239.9

14

MEMPHIS, TN

6,239

           85

3,353

27.4

38.6

15

PHOENIX/MESA, AZ

18,328

           87

11,242

44.7

246.0

16

SAN DIEGO, CA

12,274

           91

7,228

27.7

155.0

17

DAYTON, OH

4,147

           91

3,054

9.7

108.5

18

ATLANTA/SANDY SPRINGS/MARIETTA, GA

21,695

           92

18,940

49.1

93.9

19

TAMPA/ST PETERSBURGH/CLEARWATER, FL

13,562

           93

9,126

57.7

143.6

20

TOLEDO, OH

3,119

           95

2,550

73.6

278.3

21

PALM BEACH, FL

6,387

           97

4,545

83.5

79.4

22

DALLAS, TX

14,717

         102

8,180

17.9

7.3

23

COLUMBUS, OH

7,265

         104

5,330

18.0

95.7

24

INDIANAPOLIS, IN

6,604

         109

4,829

4.3

-8.2

25

SARASOTA/BRADENTON/VENICE, FL

3,308

         112

2,319

30.2

248.7

26

LOS ANGELES/LONG BEACH, CA

29,501

         113

18,043

31.0

213.8

27

ORLANDO, FL

7,189

         114

5,428

59.9

184.8

28

WARREN/FARMINGTON HILLS/TROY, MI

9,025

         116

6,797

46.2

99.4

29

FORT WORTH/ARLINGTON, TX

6,328

         118

3,438

15.8

0.8

30

CINCINNATI, OH

6,144

         145

4,857

1.0

125.5

31

ORANGE, CA

6,899

         147

4,295

30.1

193.6

32

WORCHESTER, MA

2,069

         150

1,661

122.4

894.6

33

JACKSONVILLE, FL

3,501

         156

3,076

17.4

48.6

34

TUCSON, AZ

2,514

         162

1,452

22.6

96.0

35

SAN ANTONIO, TX

4,300

         167

2,285

29.6

-4.5

36

HOUSTON/BAYTOWN/SUGARLAND, TX

11,960

         171

8,500

59.1

14.9

37

SPRINGFIELD, MA

1,637

         172

1,219

150.8

1169.8

38

WASHINGTON/ARLINGTON /ALEXANDRIA, DC-VA-MD

9,099

         182

 6,672

50.4

491.5

39

ESSEX, MA

1,605

         183

1,181

127.6

993.5

40

NEWHAVEN/MILFORD, CT

1,850

         188

N/A

N/A

N/A

41

CHICAGO, IL

16,314

         188

15,554

14.6

42.9

42

VENTURA, CA

1,400

         190

1,371

41.9

243.6

43

SAN JOSE/SUNNYVALE/SANTA CLARA, CA

3,245

         192

 2,201

51.6

206.1

44

AUSTIN/ROUND ROCK, TX

3,063

         193

1,608

12.2

2.4

45

GARY, IN

1,408

         200

1,042

-15.2

17.3

46

CHARLOTTE/GASTONIA, NC

3,148

         208

2,684

15.2

90.5

47

NEWARK, NJ

3,970

         211

2,634

30.5

63.0

48

BOSTON/QUINCY , MA

3,386

         220

2,680

146.1

1274.4

49

TACOMA, WA

1,369

         221

974

19.7

52.4

50

LAKE/KENOSHA, IL-WI

1,110

         222

N/A

N/A

N/A

51

MILWAUKEE/WAUKESHA/WST ALLIS, WI

2,870

         224

2,210

92.5

142.9

52

CAMDEN, NJ

1,225

         227

 779

16.4

-19.6

53

LITTLE ROCK/NORTH LITTLE ROCK, AR

1,250

         227

661

64.4

17.4

54

KANSAS CITY, MO-KS

3,659

         234

2,425

1.8

80.2

55

EDISON, NJ

3,787

         244

2,415

10.5

94.4

56

ST LOUIS, MO-IL

4,820

         251

4,144

15.2

47.9

57

CAMBRIDGE/NEWTON/FRAMINGHAM, MA

2,278

         257

1,586

131.5

1552.1

58

TULSA, OK

1,497

         259

1,245

19.1

-11.5

59

NASHVILLE/DAVIDSON, TN

2,224

         274

1,331

14.6

121.1

60

SCRANTON/WILKES/BARRE/ HAZLETON, PA

898

         286

458

99.1

90.8

61

HARTFORD, CT

1,674

         290

N/A

N/A

N/A

62

BRIDGEPORT/STAMFORD/NORWALK, CT

1,171

         296

N/A

N/A

N/A

63

SALT LAKE CITY, UT

1,253

         299

N/A

N/A

N/A

64

OKLAHOMA CITY, OK

1,639

         309

1,297

24.7

-30.5

65

BALTIMORE/TOWSON, MD

3,516

         310

2,884

75.0

578.6

66

LOUISVILLE, KY-IN

1,696

         314

1,287

-1.8

-15.3

67

RALEIGH/CARY, NC

1,242

         319

1,076

16.8

105.7

68

BETHESDA/FREDERICK/ GAITHERSBURG, MD

1,362

         323

1,027

41.7

1640.7

69

MINNEAPOLIS/ST PAUL/BLOOMINGTON, MN-Wi

3,699

         349

2,812

13.2

109.7

70

PHILADELPHIA, PA

4,456

         360

3,629

6.9

-5.3

71

OMAHA/COUNCIL BLUFFS, NE-IA

846

         401

795

46.4

0.4

72

KNOXVILLE, TN

701

         426

449

9.5

101.3

73

SUFFOLK/NASSAU, NY

2,321

         429

N/A

N/A

N/A

74

PITTSBURGH, PA

2,548

         432

1,526

-0.5

-28.6

75

SEATTLE/BELLEVUE/EVERETT, WA

2,318

         456

1,665

7.6

30.3

76

EL PASO, TX

527

         463

308

-22.4

-34.2

77

NEW YORK/WAYNE/WHITE PLAINS, NY-NJ

9,240

         472

7,302

19.1

93.8

78

NEW ORLEANS, LA

1,212

         480

754

23.0

188.9

79

WILMINGTON, DE-NJ

543

         508

504

201.8

247.6

80

BUFFALO/CHEEKTOWAGA/ TONAWANDA, NY

960

         541

643

67.9

-32.2

81

POUGHKEEPSIE/NEWBURGH/MIDDLETOWN, NY

446

         543

279

43.8

54.1

82

PROVIDENCE/NEW BEDFORD, RI

816

         549

N/A

N/A

N/A

83

PORTLAND/VANCOUVER /BEAVERTON, OR-WA

1,474

         582

1,420

11.3

39.9

84

ROCHESTER, NY

695

         631

617

-39.3

58.2

85

WICHITA, KS

343

         736

171

-30.5

-2.8

86

GREENSBORO/HIGHPOINT, NC

405

         744

379

-34.0

24.3

87

SAN FRANCISCO, CA

940

         775

926

1.3

88.2

88

ALBANY/SCHENECTADY/TROY

449

         836

232

-17.7

176.2

89

ALBUQUERQUE, NM

387

         880

372

-28.5

-31.0

90

BIRMINGHAM/HOOVER, AL

451

      1,001

342

-66.3

-56.6

91

NORFOLK/VIRGINIA BEACH/NEWPORT NEWS, VA

580

      1,013

471

17.8

178.7

92

CHARLESTON, SC

254

      1,040

247

-5.4

71.5

93

COLUMBIA , SC

279

      1,064

271

51.4

48.1

94

RICHMOND, VA

448

      1,103

395

223.8

338.9

95

SYRACUSE, NY

249

      1,139

156

20.0

48.6

96

ALLENTOWN/BETHLEHEM/EASTON, PA

204

      1,493

187

-34.6

32.6

97

HONOLULU, HI

197

      1,672

163

6.5

59.8

98

BATON ROUGE, LA

147

      2,074

136

-20.9

-92.0

99

MCALLEN/EDINBURG/PHARR, TX

106

      2,185

N/A

N/A

N/A

100

GREENVILLE, SC

79

      3,289

65

-16.7

-82.3

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. (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 homes, 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.

###

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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