ALABAMA FORECLOSURES DECREASE 5 PERCENT IN MAY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 122 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Alabama reported 636 foreclosure filings in June, a 5 percent decrease from the previous month, but still 122 percent above the number reported in June 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.

 

“Economic growth within Alabama is up and foreclosure activity has declined slightly compared to last month,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, property insurance costs are still elevated for homeowners following Hurricane Katrina, especially along Alabama’s coastal region where some insurance carriers are actually refusing to cover properties at all.”

 

Alabama ranked 30th in the country in total foreclosures reported for June. The state’s foreclosure rate of one foreclosure filing for every 3,088 households ranked 35th among the 50 states.

 

Jefferson County leads all in foreclosure activity for June

Jefferson County led the state in foreclosure activity for June, reporting 278 filings. Mobile County reported the second highest county total with 196 filings. Montgomery County came in third with 31 filings in the foreclosure pipeline.

 

Highest foreclosure rate reported in Mobile County

Mobile County posted the highest foreclosure rate in the state, one foreclosure filing for every 842 households — 3.7 times the state average but well below the national average. Jefferson County posted the second highest foreclosure rate in the state, one foreclosure filing for every 1,037 households — three times the state average. Third highest foreclosure rate was reported in Morgan County, one foreclosure filing for every 2,962 households — on par with the state average.

 

State a minor contributor to national total

Total foreclosure filings in Alabama accounted for less than 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 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 – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Alabama

2

320

0

0

314

636

3,088

0.23

n/a

 

 

 

 

 

 

 

 

 

 

Autauga

0

0

0

0

0

0

n/a

0.00

0.00

Baldwin

0

4

0

0

16

20

3,714

0.19

0.83

Barbour

0

0

0

0

0

0

 n/a

0.00

0.00

Bibb

0

1

0

0

0

1

8,345

0.08

0.37

Blount

0

0

0

0

1

1

21,158

0.03

0.15

Calhoun

0

3

0

0

1

4

12,831

0.05

0.24

Chambers

0

1

0

0

0

1

16,256

0.04

0.19

Cherokee

0

0

0

0

0

0

 n/a

0.00

0.00

Chilton

0

1

0

0

0

1

17,651

0.04

0.17

Clarke

0

1

0

0

0

1

12,631

0.06

0.24

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

1

0

0

0

1

19,837

0.04

0.16

Colbert

0

2

0

0

0

2

12,490

0.06

0.25

Conecuh

0

1

0

0

0

1

7,265

0.10

0.42

Cullman

0

0

0

0

1

1

35,233

0.02

0.09

Dale

0

0

0

0

0

0

 n/a

0.00

0.00

Dallas

0

2

0

0

1

3

6,817

0.10

0.45

De Kalb

0

0

0

0

1

1

28,051

0.03

0.11

Elmore

0

1

0

0

1

2

12,867

0.05

0.24

Escambia

0

0

0

0

1

1

16,544

0.04

0.19

Etowah

0

0

0

0

0

0

 n/a

0.00

0.00

Fayette

0

1

0

0

0

1

8,472

0.08

0.36

Franklin

0

0

0

0

0

0

 n/a

0.00

0.00

Geneva

0

1

0

0

0

1

12,115

0.06

0.25

Henry

0

0

0

0

0

0

 n/a

0.00

0.00

Houston

0

6

0

0

0

6

6,595

0.11

0.47

Jackson

0

2

0

0

0

2

12,084

0.06

0.26

Jefferson

1

89

0

0

188

278

1,037

0.68

2.98

Lauderdale

0

1

0

0

1

2

20,212

0.03

0.15

Lee

0

4

0

0

1

5

10,066

0.07

0.31

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

Madison

0

10

0

0

11

21

5,728

0.12

0.54

Marshall

0

1

0

0

0

1

36,331

0.02

0.08

Mobile

1

135

0

0

60

196

842

0.84

3.67

Montgomery

0

18

0

0

13

31

3,079

0.23

1.00

Morgan

0

14

0

0

2

16

2,962

0.24

1.04

Randolph

0

0

0

0

0

0

 n/a

0.00

0.00

Russell

0

1

0

0

2

3

7,610

0.09

0.41

Saint Clair

0

0

0

0

5

5

5,461

0.13

0.57

Shelby

0

13

0

0

7

20

2,965

0.24

1.04

Talladega

0

1

0

0

0

1

34,469

0.02

0.09

Tallapoosa

0

0

0

0

0

0

 n/a

0.00

0.00

Tuscaloosa

0

4

0

0

0

4

17,787

0.04

0.17

Walker

0

0

0

0

0

0

 n/a

0.00

0.00

Winston

0

1

0

0

1

2

6,251

0.11

0.49

 

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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