HAWAII FORECLOSURES DECREASE 12 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 414 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Hawaii reported 113 foreclosure filings in June, a 12 percent decrease from the previous month, but still 414 percent above the number reported in June 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

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 Hawaii foreclosures have decreased in June, the numbers are more than five times higher than they were this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that home sales throughout the state have declined by nearly four times the rate of the national average last year. This is likely contributing to the overall rise.”

 

Hawaii ranked among the 10 lowest states in the country in total foreclosures for June. The state’s foreclosure rate of one foreclosure filing for every 4,076 households ranked it 40th among the 50 states.

 

Honolulu County leads in foreclosure activity for June

Honolulu County led the state in foreclosure activity for June, reporting 67 foreclosure filings. Hawaii County reported the second highest county total with 24 foreclosure filings. Maui County came in third with 12 foreclosure filings for the month.

 

Kauai County posts highest foreclosure rate

Kauai County posted the highest foreclosure rate in the state, with one foreclosure filing for every 2,533 households — 1.6 times the state average. Hawaii County posted the second highest foreclosure rate in the state, with one foreclosure filing for every 2,611 households — 1.6 times the state average. Maui County posted the third highest foreclosure rate, with one foreclosure filing for every 4,698 households.

 

State contributes less than 1 percent to national total

Total foreclosure filings in Hawaii accounted for less than 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. 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).

 

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

 

 

                       Hawaii Foreclosure Market by County – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Hawaii

11

95

0

0

7

113

4,076

0.17

n/a

 

 

 

 

 

 

 

 

 

 

Hawaii

3

21

0

0

0

24

2,611

0.27

1.56

Honolulu

7

57

0

0

3

67

4,716

0.15

0.86

Kauai

0

7

0

0

3

10

2,533

0.28

1.61

Maui

1

10

0

0

1

12

4,698

0.15

0.87

 

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. (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 homes, with more than 1.3 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 (www.realtytrac.com).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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