ALABAMA FORECLOSURE ACTIVITY UP 5 PERCENT IN DECEMBER

Yearly Foreclosure Total Up 6 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – Alabama reported 693 foreclosure filings in December, a 5 percent increase from the previous month, and a 6 percent increase from December 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.

 

Alabama foreclosures have increased only slightly during December and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, it is one of the lower increases compared to most states. Its low unemployment rate and relatively strong home price appreciation rate is likely keeping foreclosures here from rising significantly.”

Alabama ranked 30th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 3,005 households ranked it 37th among the 50 states.

 

Three counties account for majority of state’s foreclosure total

Three counties accounted for 75 percent of all foreclosure filings in Alabama for December. Mobile County led the state in total foreclosure activity for the month, reporting 306 foreclosure filings. Jefferson County came in second with 122 foreclosure filings, followed by Montgomery County, which reported 92 foreclosure filings.

 

Mobile County posts highest foreclosure rate

Mobile County reported the highest foreclosure rate in the state for December, one foreclosure filing for every 571 households — 5.3 times the state average. Montgomery County came in second with one foreclosure filing for every 1,086 households — 2.8 times the state average. Baldwin County tallied the third highest foreclosure rate, one filing for every 1,998 households — 1.5 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 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 577 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 – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Alabama

7

378

0

0

308

693

3,005

0.19

n/a

 

 

 

 

 

 

 

 

 

 

Autauga

0

0

0

0

0

0

n/a

0.00

0.00

Baldwin

0

4

0

0

41

45

1,998

0.29

1.50

Barbour

0

1

0

0

0

1

12,770

0.05

0.24

Bibb

0

1

0

0

0

1

8,576

0.07

0.35

Blount

0

0

0

0

0

0

n/a

0.00

0.00

Bullock

0

0

0

0

0

0

n/a

0.00

0.00

Butler

0

0

0

0

0

0

n/a

0.00

0.00

Calhoun

2

2

0

0

0

4

13,224

0.04

0.23

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

0.16

Choctaw

0

0

0

0

0

0

n/a

0.00

0.00

Clarke

1

1

0

0

0

2

6,476

0.09

0.46

Clay

0

1

0

0

0

1

6,784

0.09

0.44

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

0.12

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

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

2

0

0

1

3

12,100

0.05

0.25

Dale

0

0

0

0

0

0

n/a

0.00

0.00

Dallas

0

1

0

0

0

1

20,825

0.03

0.14

De Kalb

0

0

0

0

0

0

n/a

0.00

0.00

Elmore

0

0

0

0

0

0

n/a

0.00

0.00

Escambia

0

0

0

0

0

0

n/a

0.00

0.00

Etowah

0

0

0

0

1

1

47,604

0.01

0.06

Fayette

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

1

1

0

0

0

2

7,013

0.08

0.43

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

5

0

0

0

5

8,444

0.07

0.36

Jackson

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

1

107

0

0

14

122

2,473

0.23

1.22

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

12

0

0

2

14

4,068

0.14

0.74

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

1

10

0

0

14

25

5,274

0.11

0.57

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

1

179

0

0

126

306

571

1.01

5.26

Monroe

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

17

0

0

75

92

1,086

0.53

2.77

Morgan

0

10

0

0

0

10

4,951

0.12

0.61

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

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

1

3

8,196

0.07

0.37

Saint Clair

0

1

0

0

8

9

3,303

0.17

0.91

Shelby

0

11

0

0

24

35

2,042

0.28

1.47

Sumter

0

0

0

0

0

0

n/a

0.00

0.00

Talladega

0

0

0

0

0

0

n/a

0.00

0.00

Tallapoosa

0

0

0

0

0

0

n/a

0.00

0.00

Tuscaloosa

0

3

0

0

1

4

19,396

0.03

0.15

Walker

0

2

0

0

0

2

16,661

0.03

0.18

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

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 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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