ARKANSAS FORECLOSURE ACTIVITY DOWN 5 PERCENT IN JULY

Statewide Filings Up 2 Percent From a Year Ago

 

IRVINE, Calif. – Aug. 29, 2008 – Arkansas reported 1,068 properties with foreclosure filings in July, a 5 percent decline from the previous month but 2 percent above the level reported for July 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 1.5 million properties from over 2,200 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.

 

Arkansas foreclosures headed downward in July,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unlike most states, Arkansas’ unemployment rate actually decreased during the past year and is currently below the national average. This, plus positive appreciation of home prices, are key factors contributing to the recent decline in foreclosure activity.”

 

Arkansas ranked 30th in the country in total foreclosures for the month. With one in every 1,193 households receiving a foreclosure filing, its foreclosure rate ranked 28th among the 50 states.

 

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

Three Arkansas counties accounted for 56 percent of all foreclosure activity in the state for July. Pulaski County had the highest total, reporting 204 properties with foreclosure filings for the month. Washington County came in second, documenting 198 properties with foreclosure filings. Third highest total was tallied in Benton County, reporting 194 properties with foreclosure filings.

 

Washington County posts top foreclosure rate for July

With one in every 404 households receiving a foreclosure filing for the month — three times the state average and 1.2 times the national average — Washington County tallied the highest county foreclosure rate in the state in July. Benton County posted the state’s second highest rate, with one in every 418 households receiving a foreclosure filing during the month — 2.9 times the state average and 1.1 times the national average. The third highest rate in the state was reported in Lonoke County, where one in every 793 households received a foreclosure filing in July — 1.5 times the state average.

 

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

Arkansas accounted for less than 1 percent of the 272,171 properties with foreclosure filings reported nationwide in July. The national total represents more than a 7 percent increase from the previous month and is 55 percent ahead of the total reported for July 2007. The nation’s foreclosure rate increased to one in every 464 U.S. households receiving 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 Data by County – July 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X  HH (rate)

/National Average

/State Average

 

 

 

United States

55,601

55,042

57,145

27,088

77,295

272,171

464

n/a

n/a

Arkansas

71

0

866

0

131

1,068

1,193

0.39

n/a

 

 

 

 

 

 

 

 

 

Arkansas

0

0

4

0

0

4

2,474

0.19

0.48

Ashley

0

0

6

0

0

6

1,838

0.25

0.65

Baxter

0

0

2

0

1

3

7,031

0.07

0.17

Benton

33

0

131

0

30

194

418

1.11

2.85

Boone

0

0

5

0

0

5

3,227

0.14

0.37

Bradley

0

0

1

0

0

1

5,976

0.08

0.20

Calhoun

0

0

2

0

0

2

1,565

0.30

0.76

Carroll

0

0

1

0

1

2

6,214

0.07

0.19

Chicot

0

0

0

0

0

0

 n/a

0.00

0.00

Clark

0

0

2

0

0

2

5,345

0.09

0.22

Clay

0

0

6

0

0

6

1,451

0.32

0.82

Cleburne

0

0

7

0

0

7

2,083

0.22

0.57

Cleveland

0

0

1

0

0

1

3,998

0.12

0.30

Columbia

0

0

2

0

0

2

5,968

0.08

0.20

Conway

0

0

1

0

0

1

9,348

0.05

0.13

Craighead

2

0

38

0

2

42

914

0.51

1.30

Crawford

4

0

8

0

2

14

1,645

0.28

0.72

Crittenden

0

0

14

0

2

16

1,400

0.33

0.85

Cross

0

0

2

0

0

2

4,224

0.11

0.28

Dallas

0

0

0

0

0

0

 n/a

0.00

0.00

Desha

0

0

2

0

0

2

3,433

0.14

0.35

Drew

0

0

2

0

0

2

4,405

0.11

0.27

Faulkner

0

0

43

0

2

45

916

0.51

1.30

Franklin

0

0

3

0

0

3

2,650

0.18

0.45

Fulton

0

0

1

0

0

1

6,222

0.07

0.19

Garland

3

0

34

0

17

54

866

0.54

1.38

Grant

0

0

2

0

0

2

3,721

0.12

0.32

Greene

1

0

9

0

1

11

1,600

0.29

0.75

Hempstead

0

0

0

0

0

0

 n/a

0.00

0.00

Hot Spring

0

0

5

0

0

5

2,772

0.17

0.43

Howard

0

0

1

0

0

1

6,551

0.07

0.18

Independence

0

0

4

0

0

4

3,869

0.12

0.31

Izard

0

0

1

0

0

1

6,873

0.07

0.17

Jackson

0

0

3

0

0

3

2,714

0.17

0.44

Jefferson

0

0

8

0

0

8

4,449

0.10

0.27

Johnson

0

0

3

0

0

3

3,484

0.13

0.34

Lafayette

0

0

0

0

0

0

 n/a

0.00

0.00

Lawrence

0

0

1

0

0

1

8,292

0.06

0.14

Lee

0

0

1

0

0

1

5,029

0.09

0.24

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Little River

0

0

1

0

0

1

6,665

0.07

0.18

Logan

0

0

1

0

1

2

5,130

0.09

0.23

Lonoke

0

0

25

0

6

31

793

0.58

1.50

Madison

0

0

1

0

1

2

3,447

0.13

0.35

Marion

0

0

1

0

0

1

8,808

0.05

0.14

Miller

0

0

2

0

0

2

9,490

0.05

0.13

Mississippi

0

0

7

0

1

8

2,840

0.16

0.42

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

1

0

0

1

5,976

0.08

0.20

Newton

0

0

0

0

0

0

 n/a

0.00

0.00

Ouachita

0

0

5

0

0

5

2,737

0.17

0.44

Perry

0

0

4

0

0

4

1,228

0.38

0.97

Phillips

0

0

4

0

0

4

2,751

0.17

0.43

Pike

0

0

0

0

0

0

 n/a

0.00

0.00

Poinsett

0

0

4

0

0

4

2,870

0.16

0.42

Polk

0

0

1

0

0

1

9,619

0.05

0.12

Pope

0

0

6

0

0

6

4,059

0.11

0.29

Prairie

0

0

1

0

0

1

4,955

0.09

0.24

Pulaski

10

0

176

0

18

204

849

0.55

1.41

Randolph

0

0

2

0

0

2

4,391

0.11

0.27

Saint Francis

0

0

2

0

0

2

5,832

0.08

0.20

Saline

1

0

40

0

6

47

835

0.56

1.43

Scott

0

0

0

0

0

0

 n/a

0.00

0.00

Searcy

0

0

0

0

0

0

 n/a

0.00

0.00

Sebastian

5

0

33

0

10

48

1,093

0.42

1.09

Sevier

0

0

1

0

0

1

6,650

0.07

0.18

Sharp

0

0

8

0

0

8

1,196

0.39

1.00

Stone

0

0

1

0

0

1

6,005

0.08

0.20

Union

0

0

1

0

1

2

10,586

0.04

0.11

Van Buren

0

0

2

0

0

2

4,793

0.10

0.25

Washington

12

0

158

0

28

198

404

1.15

2.95

White

0

0

17

0

1

18

1,653

0.28

0.72

Woodruff

0

0

2

0

0

2

2,097

0.22

0.57

Yell

0

0

3

0

0

3

3,202

0.14

0.37

 

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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