ALABAMA FORECLOSURES INCREASE 12 PERCENT IN APRIL

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 244 Percent From a Year Earlier

 

IRVINE, Calif. – May 18, 2007 – Alabama reported 899 foreclosure filings in April, a 12 percent increase in activity from the previous month, and a 244 percent increase from April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state posted the 29th highest foreclosure rate in the country for the month, with one foreclosure filing for every 2,184 households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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.

 

“Despite economic growth within the state, Alabama’s personal bankruptcy filings remain high,” said James J. Saccacio, chief executive officer of RealtyTrac. “In addition, 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 at all.”

 

Alabama ranked 25th in the country in total foreclosures reported for April.

 

Bulk of state total found in two counties

Two Alabama counties accounted for 79 percent of all foreclosure activity in the state in April. Jefferson County led the state, reporting 432 foreclosure filings for the month. Mobile County came in second, reporting 280 foreclosure filings. Shelby County posted the third highest foreclosure total, reporting 45 foreclosure filings.

 

Mobile County leads state in foreclosure rate for the month

Mobile County posted the highest foreclosure rate in the state for April, with one foreclosure filing for every 590 households — 3.7 times the state average and 1.3 times the national average. Jefferson County tallied the state’s second highest foreclosure rate, with one foreclosure filing for every 667 households — 3.3 times the state average and 1.2 times the national average. Shelby County posted the third highest foreclosure rate, with one foreclosure filing for every 1,318 households — 1.7 times the state average.

 

State makes minimal contribution to national total

Total foreclosure filings in Alabama accounted for less than 1 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. 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: 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Alabama

2

365

0

0

532

899

2,184

0.36

n/a

 

 

 

 

 

 

 

 

 

 

Autauga

0

0

0

0

0

0

n/a

0.00

0.00

Baldwin

0

4

0

0

18

22

3,377

0.23

0.65

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

2

0

0

0

2

10,579

0.07

0.21

Calhoun

0

4

0

0

0

4

12,831

0.06

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

17,651

0.04

0.12

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

0

0

0

0

0

n/a

0.00

0.00

Coosa

0

1

0

0

0

1

6,142

0.13

0.36

Crenshaw

0

0

0

0

0

0

n/a

0.00

0.00

Cullman

0

1

0

0

0

1

35,233

0.02

0.06

Dale

0

2

0

0

0

2

10,890

0.07

0.20

Dallas

0

0

0

0

0

0

n/a

0.00

0.00

De Kalb

0

2

0

0

0

2

14,026

0.06

0.16

Elmore

0

1

0

0

0

1

25,733

0.03

0.08

Escambia

0

1

0

0

0

1

16,544

0.05

0.13

Etowah

1

1

0

0

0

2

22,980

0.03

0.10

Franklin

1

0

0

0

0

1

13,749

0.06

0.16

Geneva

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

3

0

0

0

3

13,190

0.06

0.17

Jackson

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

0

95

0

0

337

432

667

1.17

3.27

Lauderdale

0

1

0

0

0

1

40,424

0.02

0.05

Lawrence

0

1

0

0

0

1

15,009

0.05

0.15

Lee

0

7

0

0

0

7

7,190

0.11

0.30

Limestone

0

2

0

0

0

2

13,449

0.06

0.16

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

16

0

0

0

16

7,518

0.10

0.29

Marshall

0

1

0

0

0

1

36,331

0.02

0.06

Mobile

0

166

0

0

114

280

590

1.33

3.70

Montgomery

0

23

0

0

15

38

2,512

0.31

0.87

Morgan

0

3

0

0

0

3

15,796

0.05

0.14

Pickens

0

1

0

0

0

1

9,520

0.08

0.23

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

5

0

0

1

6

3,805

0.21

0.57

Saint Clair

0

1

0

0

12

13

2,100

0.37

1.04

Shelby

0

10

0

0

35

45

1,318

0.59

1.66

Talladega

0

3

0

0

0

3

11,490

0.07

0.19

Tallapoosa

0

0

0

0

0

0

n/a

0.00

0.00

Tuscaloosa

0

6

0

0

0

6

11,858

0.07

0.18

Walker

0

1

0

0

0

1

32,417

0.02

0.07

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 construction properties, 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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