ARKANSAS FORECLOSURE ACTIVITY DOWN 13 PERCENT IN MARCH

State Filings Up 140 Percent From March 2007

 

IRVINE, Calif. – April 30, 2008 – Arkansas reported 1,210 properties with foreclosure filings in March. After a 19 percent increase in February, statewide activity decreased 13 percent for the month but was still 140 percent above the level reported for March 2007, 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.

 

“Foreclosure activity declined in Arkansas for the month of March, however the level of activity is still up significantly from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate has been above the national average for quite some time now, which is contributing to the overall rise in foreclosure we are seeing.”

 

Arkansas ranked 28th in the country in total foreclosure filings for the month. With one in every 1,053 households receiving a foreclosure filing, its foreclosure rate ranked 23rd among the 50 states.

 

Top five counties responsible for bulk of state’s foreclosure activity

Five Arkansas counties accounted for 64 percent of all foreclosure activity in the state for March. Pulaski County led the way, reporting 263 properties with foreclosure filings. Benton County came in second, documenting 208 properties with foreclosure filings. Washington County had the third highest total, reporting 153 properties with foreclosure filings. Saline County, where 75 properties with foreclosure filings were reported, came in fourth. Sebastian County had the fifth highest total, reporting 73 properties with foreclosure filings for the month.

 

Benton County posts top foreclosure rate for March

Benton County tallied the highest county foreclosure rate in the state for March, with one in every 390 households receiving a foreclosure filing — 2.7 times the state average and 1.4 times the national average. Washington County posted the state’s second highest rate, with one in every 522 households receiving a foreclosure filing during the month — twice the state average and on par with the national average. The third highest rate in the state was reported in Saline County, where one in every 523 households received a foreclosure filing in March — also twice times the state average and on par with the national average for the month.

 

State a minor contributor to nation’s foreclosure total in March

Total filings in Arkansas accounted for 1 percent of the 234,685 properties with foreclosure filings reported nationwide in March. The national total represents a 5 percent increase from the previous month and is 57 percent ahead of the total reported for March 2007. One in every 538 U.S. households received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                  Arkansas Foreclosure Market by County – March 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,493

47,677

55,398

23,724

51,393

234,685

538

n/a

n/a

Arkansas

47

0

1,045

0

118

1,210

1,053

0.51

n/a

 

 

 

 

 

 

 

 

 

 

Arkansas

0

0

1

0

0

1

9,896

0.05

0.11

Ashley

0

0

3

0

0

3

3,676

0.15

0.29

Baxter

0

0

4

0

0

4

5,273

0.10

0.20

Benton

23

0

164

0

21

208

390

1.38

2.70

Boone

2

0

11

0

0

13

1,241

0.43

0.85

Bradley

0

0

1

0

0

1

5,976

0.09

0.18

Calhoun

0

0

0

0

0

0

n/a

0.00

0.00

Carroll

0

0

2

0

0

2

6,214

0.09

0.17

Chicot

0

0

0

0

0

0

 n/a

0.00

0.00

Clark

0

0

2

0

0

2

5,345

0.10

0.20

Clay

0

0

5

0

0

5

1,741

0.31

0.60

Cleburne

0

0

2

0

0

2

7,292

0.07

0.14

Cleveland

0

0

2

0

0

2

1,999

0.27

0.53

Columbia

0

0

1

0

0

1

11,936

0.05

0.09

Conway

0

0

3

0

0

3

3,116

0.17

0.34

Craighead

3

0

55

0

5

63

609

0.88

1.73

Crawford

1

0

18

0

2

21

1,097

0.49

0.96

Crittenden

0

0

13

0

1

14

1,600

0.34

0.66

Cross

0

0

2

0

0

2

4,224

0.13

0.25

Dallas

0

0

2

0

0

2

2,256

0.24

0.47

Desha

0

0

2

0

0

2

3,433

0.16

0.31

Drew

0

0

3

0

0

3

2,936

0.18

0.36

Faulkner

0

0

32

0

4

36

1,144

0.47

0.92

Franklin

0

0

4

0

1

5

1,590

0.34

0.66

Fulton

0

0

2

0

0

2

3,111

0.17

0.34

Garland

0

0

40

0

18

58

806

0.67

1.31

Grant

0

0

4

0

0

4

1,861

0.29

0.57

Greene

0

0

6

0

0

6

2,933

0.18

0.36

Hempstead

0

0

1

0

0

1

10,612

0.05

0.10

Hot Spring

0

0

1

0

0

1

13,860

0.04

0.08

Howard

0

0

0

0

0

0

 n/a

0.00

0.00

Independence

0

0

2

0

0

2

7,737

0.07

0.14

Izard

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

4

0

0

4

2,036

0.26

0.52

Jefferson

0

0

18

0

1

19

1,873

0.29

0.56

Johnson

1

0

3

0

0

4

2,613

0.21

0.40

Lafayette

0

0

0

0

0

0

 n/a

0.00

0.00

Lawrence

0

0

1

0

0

1

8,292

0.06

0.13

Lee

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

0

1

0

0

1

5,164

0.10

0.20

Little River

0

0

0

0

1

1

6,665

0.08

0.16

Logan

0

0

5

0

0

5

2,052

0.26

0.51

Lonoke

1

0

33

0

4

38

647

0.83

1.63

Madison

0

0

3

0

0

3

2,298

0.23

0.46

Marion

0

0

2

0

0

2

4,404

0.12

0.24

Miller

0

0

5

0

0

5

3,796

0.14

0.28

Mississippi

0

0

15

0

2

17

1,336

0.40

0.79

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

0

0

0

0

0

 n/a

0.00

0.00

Nevada

0

0

0

0

0

0

 n/a

0.00

0.00

Newton

0

0

0

0

0

0

 n/a

0.00

0.00

Ouachita

0

0

3

0

0

3

4,562

0.12

0.23

Perry

0

0

1

0

0

1

4,910

0.11

0.21

Phillips

0

0

6

0

1

7

1,572

0.34

0.67

Pike

0

0

1

0

0

1

5,785

0.09

0.18

Poinsett

0

0

4

0

1

5

2,296

0.23

0.46

Polk

0

0

1

0

0

1

9,619

0.06

0.11

Pope

0

0

8

0

0

8

3,044

0.18

0.35

Prairie

0

0

0

0

0

0

 n/a

0.00

0.00

Pulaski

7

0

228

0

28

263

658

0.82

1.60

Randolph

0

0

2

0

0

2

4,391

0.12

0.24

Saint Francis

0

0

3

0

1

4

2,916

0.18

0.36

Saline

1

0

73

0

1

75

523

1.03

2.01

Scott

0

0

1

0

0

1

5,122

0.11

0.21

Searcy

0

0

1

0

0

1

4,455

0.12

0.24

Sebastian

3

0

65

0

5

73

719

0.75

1.46

Sevier

0

0

0

0

0

0

 n/a

0.00

0.00

Sharp

0

0

0

0

0

0

 n/a

0.00

0.00

Stone

0

0

1

0

0

1

6,005

0.09

0.18

Union

0

0

1

0

0

1

21,171

0.03

0.05

Van Buren

0

0

2

0

0

2

4,793

0.11

0.22

Washington

5

0

131

0

17

153

522

1.03

2.02

White

0

0

32

0

4

36

827

0.65

1.27

Woodruff

0

0

1

0

0

1

4,194

0.13

0.25

Yell

0

0

2

0

0

2

4,804

0.11

0.22

 

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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