ARKANSAS FORECLOSURE ACTIVITY INCREASES 31 PERCENT IN SEPTEMBER

Yearly Total Up 20 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Arkansas reported 1,344 foreclosure filings in September, a 31 percent from the previous month and up 20 percent from September 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.

 

“Foreclosure activity in Arkansas increased both in September and from the same month last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment in the state is running well above the national average. Home prices are still appreciating, although the rate of appreciation has steadily declined since the second quarter of 2006. These factors are contributing to the overall rise in the state’s foreclosure activity.”

 

Arkansas ranked 25th in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 929 households ranked it 18th among the 50 states.

 

Pulaski County accounts for bulk of state activity

Pulaski County reported 337 foreclosure filings, the most of any county for the month. Benton County was second, reporting 186 filings for the month. Washington County reported the third highest county total with 129 filings entering some stage of the foreclosure pipeline.

 

Highest foreclosure rate reported in Benton County

With a rate of one foreclosure filing for every 409 households — 2.3 times the state average and 1.4 times the national average — Benton County reported the highest county foreclosure rate in the state for September. Second highest rate was posted in Greene County, one foreclosure filing for every 467 households – twice the state average and 1.2 times the national average. Lonoke County posted the third highest rate, one foreclosure filing for every 475 households — twice the state average and 1.2 times the national average.

 

State make minor contribution to nation’s monthly total

Total foreclosure filings in Arkansas accounted for 1 percent of the 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 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.

 

 

                     Arkansas Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Arkansas

8

1,150

0

0

186

1,344

929

0.60

n/a

 

 

 

 

 

 

 

 

 

 

Arkansas

0

3

0

0

0

3

3,270

0.17

0.28

Ashley

0

9

0

0

2

11

991

0.56

0.94

Baxter

0

6

0

0

0

6

3,460

0.16

0.27

Benton

0

154

0

0

32

186

409

1.36

2.27

Boone

0

7

0

0

1

8

1,995

0.28

0.47

Bradley

0

0

0

0

0

0

n/a

0.00

0.00

Calhoun

0

1

0

0

0

1

3,090

0.18

0.30

Carroll

0

4

0

0

0

4

3,064

0.18

0.30

Chicot

0

0

0

0

0

0

 n/a

0.00

0.00

Clark

0

6

0

0

0

6

1,766

0.32

0.53

Clay

0

3

0

0

0

3

2,883

0.19

0.32

Cleburne

0

2

0

0

0

2

7,185

0.08

0.13

Cleveland

0

0

0

0

0

0

 n/a

0.00

0.00

Columbia

0

2

0

0

0

2

5,924

0.09

0.16

Conway

0

4

0

0

0

4

2,314

0.24

0.40

Craighead

0

47

0

0

3

50

754

0.74

1.23

Crawford

1

34

0

0

4

39

580

0.96

1.60

Crittenden

0

32

0

0

0

32

685

0.81

1.36

Cross

0

5

0

0

1

6

1,389

0.40

0.67

Dallas

0

1

0

0

0

1

4,474

0.12

0.21

Desha

0

6

0

0

0

6

1,137

0.49

0.82

Drew

0

3

0

0

0

3

2,901

0.19

0.32

Faulkner

0

54

0

0

3

57

687

0.81

1.35

Franklin

0

7

0

0

0

7

1,126

0.49

0.83

Fulton

0

0

0

0

0

0

 n/a

0.00

0.00

Garland

0

41

0

0

6

47

985

0.57

0.94

Grant

0

7

0

0

0

7

1,042

0.53

0.89

Greene

0

30

0

0

7

37

467

1.19

1.99

Hempstead

0

3

0

0

0

3

3,487

0.16

0.27

Hot Spring

0

6

0

0

0

6

2,287

0.24

0.41

Howard

0

1

0

0

0

1

6,479

0.09

0.14

Independence

0

8

0

0

0

8

1,913

0.29

0.49

Izard

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

7

0

0

0

7

1,155

0.48

0.80

Jefferson

1

21

0

0

0

22

1,604

0.35

0.58

Johnson

0

8

0

0

0

8

1,291

0.43

0.72

Lafayette

0

1

0

0

0

1

4,715

0.12

0.20

Lawrence

0

6

0

0

0

6

1,373

0.41

0.68

Lee

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

1

0

0

0

1

5,090

0.11

0.18

Little River

0

3

0

0

0

3

2,196

0.25

0.42

Logan

0

3

0

0

0

3

3,392

0.16

0.27

Lonoke

3

41

0

0

6

50

475

1.17

1.96

Madison

0

3

0

0

0

3

2,273

0.25

0.41

Marion

0

0

0

0

0

0

 n/a

0.00

0.00

Miller

0

5

0

0

1

6

3,134

0.18

0.30

Mississippi

0

19

0

0

1

20

1,129

0.49

0.82

Monroe

0

1

0

0

0

1

5,204

0.11

0.18

Montgomery

0

2

0

0

0

2

2,611

0.21

0.36

Nevada

0

1

0

0

0

1

5,600

0.10

0.17

Newton

0

1

0

0

0

1

4,445

0.13

0.21

Ouachita

0

6

0

0

0

6

2,267

0.25

0.41

Perry

0

2

0

0

0

2

2,424

0.23

0.38

Phillips

0

4

0

0

0

4

2,744

0.20

0.34

Pike

0

1

0

0

0

1

5,712

0.10

0.16

Poinsett

0

6

0

0

0

6

1,896

0.29

0.49

Polk

0

4

0

0

0

4

2,378

0.23

0.39

Pope

0

19

0

0

0

19

1,265

0.44

0.73

Prairie

0

2

0

0

0

2

2,452

0.23

0.38

Pulaski

2

250

0

0

85

337

506

1.10

1.84

Randolph

0

7

0

0

0

7

1,232

0.45

0.75

Saint Francis

0

8

0

0

0

8

1,444

0.39

0.64

Saline

0

37

0

0

3

40

952

0.58

0.98

Scott

0

1

0

0

0

1

5,070

0.11

0.18

Searcy

0

0

0

0

0

0

 n/a

0.00

0.00

Sebastian

1

41

0

0

8

50

1,036

0.54

0.90

Sevier

0

1

0

0

0

1

6,579

0.08

0.14

Sharp

0

2

0

0

0

2

4,790

0.12

0.19

Stone

0

1

0

0

0

1

5,927

0.09

0.16

Union

0

2

0

0

1

3

6,998

0.08

0.13

Van Buren

0

3

0

0

0

3

3,158

0.18

0.29

Washington

0

110

0

0

19

129

597

0.93

1.56

White

0

28

0

0

3

31

942

0.59

0.99

Woodruff

0

2

0

0

0

2

2,081

0.27

0.45

Yell

0

4

0

0

0

4

2,376

0.23

0.39

 

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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