ARKANSAS FORECLOSURE ACTIVITY INCREASES 19 PERCENT IN FEBRUARY

Yearly Total Up 5 Percent From February 2007

 

IRVINE, Calif. – Mar. 26, 2008 – Arkansas reported 1,393 properties with foreclosure filings in February. After a 14 percent decrease in January, statewide activity increased 19 percent for the month and was up 5 percent from February 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.

 

Arkansas foreclosures are up both in February and from this time last year,” said James J. saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate is currently well above the national average. This is but one contributing factor to the overall rise in foreclosures we’re seeing.”

 

Arkansas ranked 27th in the country in total foreclosures for the month. With one in every 897 households receiving a foreclosure filing, its foreclosure rate ranked 22nd among the 50 states.

 

Pulaski County leads state in foreclosure activity for February

Pulaski County reported 291 properties with foreclosure filings, the most of any county for the month. Benton County was second, reporting 266 properties with filings, followed by Washington County with 166 properties with foreclosure filings. Saline County came in fourth with 88 properties with foreclosure filings, with Garland County rounding out the state’s top five reporting 80 properties with foreclosure filings.

 

Highest foreclosure rate reported in Benton County

With a rate of one in every 286 households receiving a foreclosure filing — 3.1 times the state average and twice the national average — Benton County reported the highest county foreclosure rate in the state for February. Second highest rate was reported in Saline County with one in every 433 households receiving a foreclosure filing — 2.1 times the state average and 1.3 times the national average, followed by Washington County with a rate of one in every 464 households receiving a foreclosure filing — 1.9 times the state average and 1.2 times the national average. Garland County was fourth, reporting one in every 579 households receiving a foreclosure filing — 1.6 times the state average, followed by Pulaski County with one in every 586 households receiving a foreclosure filing — 1.5 times the state average.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Arkansas accounted for 1 percent of the 223,651 foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, and is 60 percent above the total reported for February 2007. The nation’s foreclosure rate increased to one in every 557 U.S. households receiving a foreclosure filing 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.

 

 

Arkansas Foreclosure Market by County – February 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

Arkansas

59

1,222

0

0

112

1,393

897

0.62

n/a

 

 

 

 

 

 

 

 

 

 

Arkansas

0

0

0

0

0

0

 n/a

0.00

0.00

Ashley

0

5

0

0

0

5

2,181

0.26

0.41

Baxter

0

6

0

0

0

6

3,460

0.16

0.26

Benton

29

206

0

0

31

266

286

1.95

3.14

Boone

0

6

0

0

1

7

2,280

0.24

0.39

Bradley

0

2

0

0

0

2

2,975

0.19

0.30

Calhoun

0

1

0

0

0

1

3,090

0.18

0.29

Carroll

0

1

0

0

0

1

12,254

0.05

0.07

Chicot

0

2

0

0

0

2

3,054

0.18

0.29

Clark

0

1

0

0

0

1

10,593

0.05

0.08

Clay

0

2

0

0

0

2

4,324

0.13

0.21

Cleburne

0

4

0

0

0

4

3,592

0.15

0.25

Cleveland

0

1

0

0

0

1

3,952

0.14

0.23

Columbia

0

0

0

0

0

0

 n/a

0.00

0.00

Conway

0

3

0

0

0

3

3,085

0.18

0.29

Craighead

5

45

0

0

11

61

618

0.90

1.45

Crawford

1

25

0

0

3

29

781

0.71

1.15

Crittenden

0

21

0

0

0

21

1,044

0.53

0.86

Cross

0

1

0

0

0

1

8,336

0.07

0.11

Dallas

0

2

0

0

0

2

2,237

0.25

0.40

Desha

0

3

0

0

0

3

2,275

0.24

0.39

Drew

0

4

0

0

0

4

2,176

0.26

0.41

Faulkner

0

38

0

0

6

44

890

0.63

1.01

Franklin

0

3

0

0

0

3

2,627

0.21

0.34

Fulton

0

1

0

0

0

1

6,147

0.09

0.15

Garland

2

66

0

0

12

80

579

0.96

1.55

Grant

0

4

0

0

0

4

1,824

0.31

0.49

Greene

0

26

0

0

0

26

665

0.84

1.35

Hempstead

0

1

0

0

1

2

5,230

0.11

0.17

Hot Spring

0

5

0

0

0

5

2,745

0.20

0.33

Howard

0

2

0

0

0

2

3,240

0.17

0.28

Independence

0

9

0

0

0

9

1,701

0.33

0.53

Izard

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

2

0

0

0

2

4,044

0.14

0.22

Jefferson

0

20

0

0

0

20

1,765

0.32

0.51

Johnson

0

7

0

0

0

7

1,476

0.38

0.61

Lafayette

0

0

0

0

0

0

 n/a

0.00

0.00

Lawrence

0

3

0

0

0

3

2,746

0.20

0.33

Lee

0

1

0

0

0

1

4,992

0.11

0.18

Lincoln

0

2

0

0

0

2

2,545

0.22

0.35

Little River

0

1

0

0

0

1

6,588

0.08

0.14

Logan

0

3

0

0

1

4

2,544

0.22

0.35

Lonoke

1

36

0

0

2

39

609

0.91

1.47

Madison

0

5

0

0

0

5

1,364

0.41

0.66

Marion

0

0

0

0

0

0

 n/a

0.00

0.00

Miller

0

11

0

0

0

11

1,709

0.33

0.52

Mississippi

0

16

0

0

0

16

1,412

0.39

0.64

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

1

0

0

0

1

5,221

0.11

0.17

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

5

0

0

0

5

2,721

0.20

0.33

Perry

0

1

0

0

0

1

4,848

0.11

0.18

Phillips

0

6

0

0

0

6

1,829

0.30

0.49

Pike

0

0

0

0

0

0

 n/a

0.00

0.00

Poinsett

0

2

0

0

1

3

3,792

0.15

0.24

Polk

0

1

0

0

0

1

9,513

0.06

0.09

Pope

0

12

0

0

0

12

2,002

0.28

0.45

Prairie

0

0

0

0

0

0

 n/a

0.00

0.00

Pulaski

5

270

0

0

16

291

586

0.95

1.53

Randolph

0

0

0

0

0

0

 n/a

0.00

0.00

Saint Francis

0

6

0

0

0

6

1,925

0.29

0.47

Saline

2

77

0

0

9

88

433

1.29

2.07

Scott

1

0

0

0

0

1

5,070

0.11

0.18

Searcy

0

0

0

0

0

0

 n/a

0.00

0.00

Sebastian

11

62

0

0

4

77

672

0.83

1.33

Sevier

0

1

0

0

0

1

6,579

0.08

0.14

Sharp

0

0

0

0

0

0

 n/a

0.00

0.00

Stone

0

2

0

0

0

2

2,964

0.19

0.30

Union

0

2

0

0

0

2

10,497

0.05

0.09

Van Buren

0

1

0

0

0

1

9,475

0.06

0.09

Washington

1

151

0

0

14

166

464

1.20

1.93

White

1

17

0

0

0

18

1,622

0.34

0.55

Woodruff

0

1

0

0

0

1

4,162

0.13

0.22

Yell

0

1

0

0

0

1

9,503

0.06

0.09

               

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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