ALABAMA FORECLOSURE ACTIVITY DOWN 16 PERCENT IN JANUARY

Yearly Foreclosure Total Down 12 Percent From January 2007

 

IRVINE, Calif. – Feb. 26, 2008 – Alabama reported 581 foreclosure filings in January, a 16 percent decrease from the previous month, and a 12 decrease percent from January 2007, 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.

 

Alabama foreclosures have decreased both in January and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate was 1 percent below the national average in December, and its home price appreciation rate was nearly three times the national average last year. These factors are likely contributing to the overall decline.”

 

Alabama ranked 33rd in the country in total foreclosures for the January. The state’s foreclosure rate of one foreclosure filing for every 3,584 households ranked it 41st among the 50 states.

 

Three counties account for largest share of state foreclosure total

Three counties accounted for 73 percent of all foreclosure filings in Alabama for January. Mobile County held the highest total for the month with 264 foreclosure filings. Jefferson County was second, reporting 115 foreclosure filings for the month, followed by Montgomery County with 46 foreclosure filings.

 

Mobile County posts highest foreclosure rate

Mobile County reported the highest county foreclosure rate in Alabama for January, one foreclosure filing for every 662 households — 5.4 times the state average. Montgomery County posted the second highest foreclosure rate, one foreclosure filing for every 2,171 households — 1.7 times the state average. Shelby County registered the third highest foreclosure rate, one filing for every 2,305 households — 1.6 times the state average.

 

State contributes less than 1 percent to nation’s monthly total

Total foreclosure filings in Alabama accounted for less than 1 percent of the 233,001 foreclosure filings reported nationwide in January. The national total represents an 8 percent increase from the previous month, and is 57 percent above the total reported for January 2007. The nation’s foreclosure rate increased to one foreclosure filing for every 534 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.

 

 

Alabama Foreclosure Market by County – January 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

52,321

60,101

19,662

55,590

45,327

233,001

534

n/a

n/a

Alabama

0

389

0

0

192

581

3,584

0.15

n/a

 

 

 

 

 

 

 

 

 

 

Autauga

0

0

0

0

0

0

n/a

0.00

0.00

Baldwin

0

8

0

0

15

23

3,909

0.14

0.92

Barbour

0

0

0

0

0

0

n/a

0.00

0.00

Bibb

0

0

0

0

0

0

n/a

0.00

0.00

Blount

0

0

0

0

0

0

n/a

0.00

0.00

Bullock

0

1

0

0

0

1

4,788

0.11

0.75

Butler

0

0

0

0

0

0

n/a

0.00

0.00

Calhoun

0

4

0

0

0

4

13,224

0.04

0.27

Chambers

0

1

0

0

0

1

16,471

0.03

0.22

Cherokee

0

0

0

0

0

0

n/a

0.00

0.00

Chilton

0

0

0

0

0

0

n/a

0.00

0.00

Choctaw

0

0

0

0

0

0

n/a

0.00

0.00

Clarke

0

1

0

0

0

1

12,951

0.04

0.28

Clay

0

0

0

0

0

0

n/a

0.00

0.00

Cleburne

0

0

0

0

0

0

n/a

0.00

0.00

Coffee

0

0

0

0

0

0

n/a

0.00

0.00

Colbert

0

1

0

0

0

1

25,903

0.02

0.14

Conecuh

0

0

0

0

0

0

n/a

0.00

0.00

Coosa

0

1

0

0

0

1

6,291

0.08

0.57

Covington

0

0

0

0

0

0

n/a

0.00

0.00

Crenshaw

0

0

0

0

0

0

n/a

0.00

0.00

Cullman

0

0

0

0

0

0

n/a

0.00

0.00

Dale

0

0

0

0

0

0

n/a

0.00

0.00

Dallas

0

0

0

0

0

0

n/a

0.00

0.00

De Kalb

0

1

0

0

0

1

28,917

0.02

0.12

Elmore

0

1

0

0

0

1

28,046

0.02

0.13

Escambia

0

2

0

0

0

2

8,420

0.06

0.43

Etowah

0

8

0

0

0

8

5,951

0.09

0.60

Fayette

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Geneva

0

1

0

0

0

1

12,368

0.04

0.29

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Hale

0

0

0

0

0

0

n/a

0.00

0.00

Henry

0

0

0

0

0

0

n/a

0.00

0.00

Houston

0

1

0

0

0

1

42,220

0.01

0.08

Jackson

0

2

0

0

0

2

12,452

0.04

0.29

Jefferson

0

115

0

0

0

115

2,623

0.20

1.37

Lamar

0

1

0

0

0

1

7,677

0.07

0.47

Lauderdale

0

0

0

0

0

0

n/a

0.00

0.00

Lawrence

0

0

0

0

0

0

n/a

0.00

0.00

Lee

0

2

0

0

0

2

28,477

0.02

0.13

Limestone

0

0

0

0

0

0

n/a

0.00

0.00

Lowndes

0

0

0

0

0

0

n/a

0.00

0.00

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

19

0

0

26

45

2,930

0.18

1.22

Marengo

0

0

0

0

0

0

n/a

0.00

0.00

Marion

0

0

0

0

0

0

n/a

0.00

0.00

Marshall

0

0

0

0

0

0

n/a

0.00

0.00

Mobile

0

167

0

0

97

264

662

0.81

5.41

Monroe

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

11

0

0

35

46

2,171

0.25

1.65

Morgan

0

7

0

0

0

7

7,073

0.08

0.51

Perry

0

1

0

0

0

1

5,510

0.10

0.65

Pickens

0

0

0

0

0

0

n/a

0.00

0.00

Pike

0

0

0

0

0

0

n/a

0.00

0.00

Randolph

0

0

0

0

0

0

n/a

0.00

0.00

Russell

0

2

0

0

0

2

12,295

0.04

0.29

Saint Clair

0

1

0

0

6

7

4,247

0.13

0.84

Shelby

0

18

0

0

13

31

2,305

0.23

1.55

Sumter

0

0

0

0

0

0

n/a

0.00

0.00

Talladega

0

1

0

0

0

1

35,625

0.02

0.10

Tallapoosa

0

0

0

0

0

0

n/a

0.00

0.00

Tuscaloosa

0

6

0

0

0

6

12,931

0.04

0.28

Walker

0

4

0

0

0

4

8,331

0.06

0.43

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Wilcox

0

0

0

0

0

0

n/a

0.00

0.00

Winston

0

1

0

0

0

1

12,807

0.04

0.28

 

 

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).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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