ALABAMA FORECLOSURE ACTIVITY DOWN 26 PERCENT IN SEPTEMBER

Activity Down 11 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Alabama reported 473 foreclosure filings in September, a 26 percent decrease from the previous month and 11 percent below the number reported in September 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.

 

“Even with unemployment on the rise over the past few months, foreclosure activity in Alabama appears to be on the decline,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, property insurance costs are still elevated for homeowners following Hurricane Katrina in August 2005, especially along Alabama’s coastal region where some insurance carriers are actually refusing to cover properties.”

 

Alabama ranked 34th in the country in total foreclosures reported for September. The state’s foreclosure rate of one foreclosure filing for every 4,402 households ranked 43rd among the 50 states.

 

Mobile County accounts for nearly half of the state’s activity

Mobile County led the state with 213 foreclosure filings for the month, 45 percent of all activity in the state for the month. Jefferson County reported the second highest county total with 106 foreclosure filings. Montgomery County came in third, reporting 33 filings entering some stage of the foreclosure pipeline.

 

Highest foreclosure rate posted in Mobile County for September

Mobile County posted the highest foreclosure rate in Alabama for September, one foreclosure filing for every 820 households — 5.4 times the state average. Shelby County registered the second highest rate, one foreclosure filing for every 2,647 households — 1.7 times the state average. Saint Clair County came in third with a foreclosure rate of one foreclosure filing for every 2,702 households — 1.6 times the state average.

 

State makes minor contribution to nation’s monthly total

Total filings in Alabama accounted for less than 1 percent of the 223,538 foreclosure filings reported nationwide in September. The national total represents an 8 percent decrease from the previous month, but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 557 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 – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Alabama

3

313

0

0

157

473

4,402

0.13

n/a

 

 

 

 

 

 

 

 

 

 

Autauga

0

0

0

0

0

0

n/a

0.00

0.00

Baldwin

0

2

0

0

19

21

4,281

0.13

1.03

Barbour

0

1

0

0

0

1

12,770

0.04

0.34

Bibb

0

2

0

0

0

2

4,288

0.13

1.03

Blount

0

1

0

0

0

1

21,681

0.03

0.20

Bullock

0

0

0

0

0

0

n/a

0.00

0.00

Butler

0

1

0

0

0

1

10,277

0.05

0.43

Calhoun

0

2

0

0

0

2

26,449

0.02

0.17

Chambers

0

0

0

0

0

0

n/a

0.00

0.00

Cherokee

0

0

0

0

0

0

n/a

0.00

0.00

Chilton

0

1

0

0

0

1

18,341

0.03

0.24

Choctaw

0

0

0

0

0

0

n/a

0.00

0.00

Clarke

0

0

0

0

0

0

n/a

0.00

0.00

Clay

0

0

0

0

0

0

n/a

0.00

0.00

Cleburne

0

1

0

0

0

1

6,372

0.09

0.69

Coffee

0

0

0

0

1

1

20,953

0.03

0.21

Colbert

1

1

0

0

6

8

3,238

0.17

1.36

Conecuh

0

0

0

0

0

0

n/a

0.00

0.00

Coosa

0

0

0

0

0

0

n/a

0.00

0.00

Covington

1

0

0

0

0

1

18,925

0.03

0.23

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

0

0

0

1

1

28,917

0.02

0.15

Elmore

0

1

0

0

0

1

28,046

0.02

0.16

Escambia

0

0

0

0

0

0

n/a

0.00

0.00

Etowah

0

2

0

0

0

2

23,802

0.02

0.18

Fayette

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

1

0

0

0

1

14,025

0.04

0.31

Geneva

0

0

0

0

0

0

n/a

0.00

0.00

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

4

0

0

0

4

10,555

0.05

0.42

Jackson

0

1

0

0

0

1

24,903

0.02

0.18

Jefferson

0

96

0

0

10

106

2,846

0.20

1.55

Lamar

0

0

0

0

0

0

n/a

0.00

0.00

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

4

0

0

0

4

14,239

0.04

0.31

Limestone

0

0

0

0

1

1

28,487

0.02

0.15

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

10

0

0

1

11

11,987

0.05

0.37

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

1

0

0

0

1

37,664

0.01

0.12

Mobile

0

150

0

0

63

213

820

0.68

5.37

Monroe

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

7

0

0

26

33

3,027

0.18

1.45

Morgan

0

0

0

0

0

0

n/a

0.00

0.00

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Pickens

0

0

0

0

0

0

n/a

0.00

0.00

Pike

0

1

0

0

0

1

14,540

0.04

0.30

Randolph

0

1

0

0

0

1

10,543

0.05

0.42

Russell

0

2

0

0

1

3

8,196

0.07

0.54

Saint Clair

0

1

0

0

10

11

2,702

0.21

1.63

Shelby

0

11

0

0

16

27

2,647

0.21

1.66

Sumter

0

0

0

0

0

0

n/a

0.00

0.00

Talladega

1

2

0

0

0

3

11,875

0.05

0.37

Tallapoosa

0

0

0

0

0

0

n/a

0.00

0.00

Tuscaloosa

0

5

0

0

1

6

12,931

0.04

0.34

Walker

0

1

0

0

0

1

33,322

0.02

0.13

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

0

0

0

1

1

12,807

0.04

0.34

 

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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