ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
State’s Activity Level Up 32 Percent From a Year Ago
IRVINE, Calif. – Dec. 11, 2006 – Hawaii reported 74 properties entering some stage of the foreclosure process in November, a 14 percent increase from the 65 properties reported in October, and up 32 percent from the 56 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 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.
“Hawaii foreclosures have increased both in November and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that recent home sales and home price appreciation have declined throughout the state. These factors are contributing to the overall rise in foreclosures we are seeing.”
Hawaii ranked among the 10 lowest states in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 6,224 households also ranks it among the 10 lowest in the nation.
Honolulu County leads state in activity
Honolulu County reported the highest foreclosure activity in the state for November, with 47 properties entering some stage of the foreclosure process during the month. Maui and Hawaii Counties shared the second highest total, each reporting 11 properties in the foreclosure pipeline.
Highest foreclosure rate reported in Kauai County
Kauai County posted the state’s highest foreclosure rate in November with one new foreclosure filing for every 5,066 households — 1.2 times the state average. Maui County reported the second highest foreclosure rate with one new foreclosure filing for every 5,125 households — 1.2 times the state average. Hawaii County posted the third highest foreclosure rate, one new foreclosure filing for every 5,698 households — 1.1 times the state average.
State makes minor contribution to national total
Hawaii’s foreclosure activity accounted for less than 1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 households during the month.
The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 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 – November 2006
1 in every # households
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 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 www.realtytrac.com.
Atomic Public Relations