VIRGINIA FORECLOSURES INCREASE 16 PERCENT IN OCTOBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State Activity Level Up 50 Percent From a Year Ago

 

IRVINE, Calif. – Nov. 10, 2006 – Virginia reported 464 properties entering some stage of the foreclosure process in October, a 16 percent increase from the 400 properties reported in September, and a 50 percent increase from the 310 properties reported for the same month last year, according to the RealtyTrac™ October 2006 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.

 

“The level of foreclosures in Virginia have increased both in October and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “A sharp decline in home sales this year is very likely contributing to the rise.”

 

Virginia ranked 29th in the country in total foreclosures reported for October. The state’s foreclosure rate of one new foreclosure filing for every 6,220 households — 16 percent of the national average — ranks it among the 10 lowest states in the country.

 

Prince William County reports highest foreclosure level in state

Prince William County led the state in foreclosures for October, reporting 76 properties entering some stage of the foreclosure process. Fairfax County had the second highest total, reporting 65 properties entering some stage of the foreclosure process for the month, followed by Loudon County where 40 properties entered some stage of the foreclosure process. 

 

Manassas City posts state’s top foreclosure rate

Manassas City posted the top foreclosure rate in the state for October, reporting one new foreclosure filing for every 1,211 households — 5.1 times the state average. Reporting one new foreclosure filing for every 1,296 households — 4.8 times the state average — Prince William County had the second highest foreclosure rate. Stafford County completed the top three with one new foreclosure filing for every 1,495 households — 4.2 times the state average.

 

State makes minor contribution to national monthly total

Virginia’s foreclosure activity accounted for less than 1 percent of the 115,568 properties entering some stage of foreclosure nationwide in October. The national total represents a 3 percent increase from the 112,210 foreclosures reported in September. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,001 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).

  

                        Virginia Foreclosure Market by County – October 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,731

42,375

5,799

18,895

20,768

115,568

1,001

n/a

n/a

Virginia

3

363

0

0

98

464

6,220

0.16

n/a

 

 

 

 

 

 

 

 

 

 

Accomack

0

0

0

0

0

0

 n/a

0.00

0.00

Albemarle

0

0

0

0

0

0

 n/a

0.00

0.00

Alexandria City

0

6

0

0

0

6

10,709

0.09

0.58

Alleghany

0

1

0

0

0

1

5,812

0.17

1.07

Amelia

0

3

0

0

0

3

1,536

0.65

4.05

Amherst

0

1

0

0

0

1

12,958

0.08

0.48

Appomattox

0

1

0

0

0

1

5,828

0.17

1.07

Arlington

0

3

0

0

2

5

18,085

0.06

0.34

Augusta

0

2

0

0

0

2

13,369

0.07

0.47

Bedford

0

0

0

0

0

0

n/a

0.00

0.00

Botetourt

0

0

0

0

0

0

n/a

0.00

0.00

Bristol

0

2

0

0

0

2

4,235

0.24

1.47

Brunswick

0

0

0

0

0

0

n/a

0.00

0.00

Buckingham

0

1

0

0

0

1

6,290

0.16

0.99

Campbell

0

1

0

0

0

1

22,088

0.05

0.28

Caroline

0

1

0

0

0

1

8,889

0.11

0.70

Carroll

0

0

0

0

0

0

n/a

0.00

0.00

Charlotte

0

0

0

0

0

0

n/a

0.00

0.00

Charlottesville City

0

0

0

0

0

0

n/a

0.00

0.00

Chesapeake City

0

18

0

0

0

18

4,037

0.25

1.54

Chesterfield

0

9

0

0

0

9

10,856

0.09

0.57

Clarke

0

1

0

0

0

1

5,388

0.19

1.15

Colonial Heights City

0

2

0

0

0

2

3,670

0.27

1.69

Culpeper

0

1

0

0

2

3

4,290

0.23

1.45

Cumberland

0

1

0

0

0

1

4,085

0.24

1.52

Danville City

0

3

0

0

12

15

1,541

0.65

4.04

Dickenson

0

1

0

0

0

1

7,684

0.13

0.81

Dinwiddie

0

1

0

0

0

1

9,707

0.10

0.64

Fairfax

2

60

0

0

3

65

5,529

0.18

1.12

Fairfax City

0

1

0

0

0

1

8,204

0.12

0.76

Falls Church City

0

0

0

0

0

0

n/a

0.00

0.00

Fauquier

0

2

0

0

0

2

10,523

0.10

0.59

Floyd

0

0

0

0

0

0

n/a

0.00

0.00

Fluvanna

0

2

0

0

0

2

4,009

0.25

1.55

Franklin

0

3

0

0

0

3

7,572

0.13

0.82

Frederick

0

0

0

0

1

1

23,319

0.04

0.27

Fredericksburg City

0

1

0

0

0

1

8,888

0.11

0.70

Galax City

0

0

0

0

0

0

n/a

0.00

0.00

Gloucester

0

0

0

0

0

0

n/a

0.00

0.00

Goochland

0

0

0

0

0

0

n/a

0.00

0.00

Grayson

0

0

0

0

0

0

n/a

0.00

0.00

Greensville

0

0

0

0

0

0

n/a

0.00

0.00

Halifax

0

1

0

0

0

1

16,953

0.06

0.37

Hampton City

0

8

0

0

0

8

7,164

0.14

0.87

Hanover

0

2

0

0

0

2

10,598

0.09

0.59

Harrisonburg City

0

0

0

0

0

0

n/a

0.00

0.00

Henrico

0

9

0

0

0

9

12,508

0.08

0.50

Henry

0

3

0

0

0

3

8,640

0.12

0.72

Hopewell City

0

0

0

0

0

0

n/a

0.00

0.00

Isle Of Wight

0

1

0

0

0

1

12,066

0.08

0.52

James City

0

1

0

0

0

1

20,772

0.05

0.30

King George

0

0

0

0

0

0

n/a

0.00

0.00

King William

0

2

0

0

0

2

2,595

0.39

2.40

Lancaster

0

2

0

0

0

2

3,249

0.31

1.91

Lee

0

1

0

0

0

1

11,086

0.09

0.56

Lexington City

0

0

0

0

0

0

n/a

n/a

n/a

Loudoun

0

24

0

0

16

40

1,554

0.64

4.00

Louisa

0

1

0

0

0

1

11,855

0.08

0.52

Lunenburg

0

0

0

0

0

0

n/a

0.00

0.00

Lynchburg City

0

3

0

0

0

3

9,213

0.11

0.68

Manassas City

0

7

0

0

3

10

1,211

0.83

5.13

Manassas Park City

0

1

0

0

0

1

3,365

0.30

1.85

Martinsville City

0

0

0

0

0

0

n/a

0.00

0.00

Mathews

0

0

0

0

0

0

n/a

0.00

0.00

Mecklenburg

0

0

0

0

0

0

n/a

0.00

0.00

Middlesex

0

1

0

0

0

1

6,362

0.16

0.98

Montgomery

0

0

0

0

0

0

n/a

0.00

0.00

Nelson

0

0

0

0

0

0

n/a

0.00

0.00

New Kent

0

0

0

0

0

0

n/a

0.00

0.00

Newport News City

0

9

0

0

0

9

n/a

n/a

n/a

Norfolk City

0

19

0

0

9

28

3,372

0.30

1.84

Northampton

0

1

0

0

0

1

6,547

0.15

0.95

Northumberland

0

0

0

0

0

0

n/a

0.00

0.00

Nottoway

0

0

0

0

0

0

n/a

0.00

0.00

Orange

0

2

0

0

0

2

5,677

0.18

1.10

Page

0

0

0

0

0

0

n/a

0.00

0.00

Patrick

0

0

0

0

0

0

n/a

0.00

0.00

Petersburg City

0

0

0

0

0

0

n/a

0.00

0.00

Pittsylvania

0

2

0

0

0

2

14,006

0.07

0.44

Poquoson City

0

0

0

0

0

0

n/a

0.00

0.00

Portsmouth City

0

9

0

0

0

9

4,623

0.22

1.35

Powhatan

0

0

0

0

0

0

n/a

0.00

0.00

Prince Edward

0

3

0

0

0

3

2,509

0.40

2.48

Prince George

0

0

0

0

0

0

n/a

0.00

0.00

Prince William

0

35

0

0

41

76

1,296

0.77

4.80

Pulaski

0

3

0

0

0

3

5,442

0.18

1.14

Radford

0

0

0

0

0

0

n/a

0.00

0.00

Rappahannock

0

1

0

0

0

1

3,303

0.30

1.88

Richmond

0

0

0

0

0

0

n/a

0.00

0.00

Richmond City

0

9

0

0

0

9

10254

0.10

0.61

Roanoke

0

1

0

0

0

1

36,121

0.03

0.17

Roanoke City

0

6

0

0

0

6

7,543

0.13

0.82

Rockingham

0

1

0

0

0

1

27,328

0.04

0.23

Salem

0

0

0

0

0

0

n/a

0.00

0.00

Scott

0

0

0

0

0

0

n/a

0.00

0.00

Shenandoah

0

1

0

0

0

1

16,709

0.06

0.37

Smyth

0

1

0

0

0

1

15,111

0.07

0.41

Southampton

0

0

0

0

0

0

n/a

0.00

0.00

Spotsylvania

0

13

0

0

0

13

2,564

0.39

2.43

Stafford

0

18

0

0

3

21

1,495

0.67

4.16

Staunton City

0

1

0

0

0

1

10,427

0.10

0.60

Suffolk City

0

6

0

0

0

6

4,117

0.24

1.51

Surry

0

0

0

0

0

0

n/a

0.00

0.00

Sussex

0

0

0

0

0

0

n/a

0.00

0.00

Tazewell

0

0

0

0

0

0

n/a

0.00

0.00

Virginia Beach City

1

21

0

0

6

28

5,796

0.17

1.07

Warren

0

3

0

0

0

3

4,433

0.23

1.40

Washington

0

2

0

0

0

2

11,493

0.09

0.54

Waynesboro City

0

1

0

0

0

1

8,863

0.11

0.70

Westmoreland

0

0

0

0

0

0

n/a

0.00

0.00

Winchester City

0

0

0

0

0

0

n/a

0.00

0.00

York

0

0

0

0

0

0

n/a

0.00

0.00

 

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.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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