ALABAMA FORECLOSURES INCREASE 27 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 68 Percent From August 2006

 

IRVINE, Calif. – Sept. 21, 2007 – Alabama reported 636 foreclosure filings in August, a 27 percent increase from the previous month, and up 68 percent from the level reported in August 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 both in August and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Factors that are contributing to this overall rise in foreclosures are home sales that are far below the national average and home price appreciation which is declining.”

 

Alabama ranked 32nd in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 3,274 households ranked it 40th among the 50 states.

 

Three counties account for bulk of state activity

Total foreclosure filings in three Alabama counties accounted for 77 percent of the state’s activity in August. Mobile County reported 313 foreclosure filings, the most of any county for the month. Jefferson County was second, reporting 130 filings for the month. Montgomery County reported the third highest county total with 45 filings.

 

Mobile County posts highest foreclosure rate

With a rate of one foreclosure filing for every 558 households — 5.9 times the state average — Mobile County reported the highest county foreclosure rate in the state for August. Second was Montgomery County with one foreclosure filing for every 2,220 households — 1.5 times the state average. Jefferson County posted the third highest foreclosure rate, one foreclosure filing for every 2,321 households — 1.4 times the state average.

 

State makes minor contribution to nation’s monthly total

Total foreclosure filings in Alabama accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Alabama

2

445

0

0

189

636

3,274

0.16

n/a

 

 

 

 

 

 

 

 

 

 

Autauga

0

1

0

0

0

1

19,263

0.03

0.17

Baldwin

0

9

0

0

21

30

2,997

0.17

1.09

Barbour

0

0

0

0

0

0

n/a

0.00

0.00

Bibb

0

1

0

0

0

1

8,576

0.06

0.38

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

Calhoun

0

0

0

0

1

1

52,897

0.01

0.06

Chambers

0

1

0

0

0

1

16,471

0.03

0.20

Cherokee

0

0

0

0

0

0

n/a

0.00

0.00

Chilton

0

1

0

0

0

1

18,341

0.03

0.18

Choctaw

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

0.08

0.51

Coffee

0

0

0

0

0

0

n/a

0.00

0.00

Colbert

0

1

0

0

0

1

25,903

0.02

0.13

Covington

0

1

0

0

0

1

18,925

0.03

0.17

Crenshaw

0

0

0

0

0

0

n/a

0.00

0.00

Cullman

0

0

0

0

1

1

36,300

0.01

0.09

Dale

0

2

0

0

0

2

11,197

0.05

0.29

Dallas

0

0

0

0

1

1

20,825

0.02

0.16

De Kalb

0

0

0

0

1

1

28,917

0.02

0.11

Elmore

0

2

0

0

0

2

14,023

0.04

0.23

Escambia

0

0

0

0

0

0

n/a

0.00

0.00

Etowah

0

1

0

0

0

1

47,604

0.01

0.07

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Geneva

0

1

0

0

0

1

12,368

0.04

0.26

Henry

0

1

0

0

0

1

8,293

0.06

0.39

Houston

0

7

0

0

1

8

5,278

0.10

0.62

Jackson

0

1

0

0

0

1

24,903

0.02

0.13

Jefferson

0

113

0

0

17

130

2,321

0.22

1.41

Lauderdale

0

1

0

0

0

1

41,752

0.01

0.08

Lee

0

6

0

0

0

6

9,492

0.05

0.34

Limestone

0

3

0

0

0

3

9,496

0.05

0.34

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

12

0

0

4

16

8,241

0.06

0.40

Marion

0

0

0

0

1

1

14,824

0.03

0.22

Marshall

0

2

0

0

0

2

18,832

0.03

0.17

Mobile

2

228

0

0

83

313

558

0.91

5.86

Montgomery

0

11

0

0

34

45

2,220

0.23

1.47

Morgan

0

13

0

0

0

13

3,809

0.13

0.86

Randolph

0

0

0

0

1

1

10,543

0.05

0.31

Russell

0

1

0

0

2

3

8,196

0.06

0.40

Saint Clair

0

1

0

0

9

10

2,973

0.17

1.10

Shelby

0

15

0

0

12

27

2,647

0.19

1.24

Talladega

0

1

0

0

0

1

35,625

0.01

0.09

Tallapoosa

0

0

0

0

0

0

n/a

0.00

0.00

Tuscaloosa

0

5

0

0

0

5

15,517

0.03

0.21

Walker

0

2

0

0

0

2

16,661

0.03

0.20

 

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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