ARKANSAS FORECLOSURE ACTIVITY UP 17 PERCENT IN OCTOBER

Filings Statewide Increase 27 Percent From October 2007

 

IRVINE, Calif. – Nov. 26, 2008 – Foreclosure filings were reported on 1,895 Arkansas properties in October, an increase of 17 percent from the previous month, and 27 percent above the level reported for October 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.

 

“Foreclosure filings are on the rise in Arkansas, with activity up between September and October as well as compared to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While unemployment within the state remains below the national average, the current national economic crisis is of concern to Arkansas residents working to pay their mortgages.”

 

Arkansas ranked 26th in the country in total properties with foreclosure filings for October. One in every 672 Arkansas housing units received a foreclosure filing during the month, ranking 19th among the 50 states.

 

Benton County tops in foreclosure activity for October

Benton County led the state reporting 491 properties with foreclosure filings for the month. Pulaski County came in second highest, reporting 379 properties with foreclosure filings. Washington County ranked third highest, reporting 278 properties with foreclosure filings. Garland County came in fourth place, documenting 89 properties with foreclosure filings.

 

Benton County posts top foreclosure rate for October

Benton County documented the state’s top foreclosure rate, with one in every 165 housing units receiving a foreclosure filing during the month — 4.1 times the state average and 2.7 times the national average. Washington County reported the second highest foreclosure rate, where one in every 287 housing units received a foreclosure filing — 2.3 times the state average and 1.6 times the national average. Lonoke County documented the third highest foreclosure rate, where one in every 324 housing units received a foreclosure filing during the month — 2.1 times the state average.

 

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

Arkansas accounted for less than 1 percent of the 279,561 properties with foreclosure filings reported nationwide in October. The national total represented an increase of more than 5 percent from the previous month but was almost 25 percent ahead of the total reported for October 2007. The nation’s foreclosure rate rose to one in every 452 U.S. housing units 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 – October 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

36,036

66,033

66,319

26,305

84,868

279,561

452

n/a

n/a

Arkansas

187

0

1,305

0

403

1,895

672

0.67

n/a

 

 

 

 

 

 

 

 

 

Alameda

476

0

710

0

598

1,784

314

1.44

0.74

Arkansas

0

0

3

0

0

3

3,299

0.14

0.20

Ashley

0

0

1

0

0

1

11,029

0.04

0.06

Baxter

0

0

6

0

0

6

3,516

0.13

0.19

Benton

140

0

266

0

85

491

165

2.74

4.07

Boone

0

0

9

0

6

15

1,076

0.42

0.62

Bradley

0

0

0

0

0

0

 n/a

0.00

0.00

Calhoun

0

0

0

0

0

0

 n/a

0.00

0.00

Carroll

0

0

1

0

0

1

12,428

0.04

0.05

Chicot

0

0

0

0

0

0

 n/a

0.00

0.00

Clark

0

0

2

0

0

2

5,345

0.08

0.13

Clay

0

0

3

0

0

3

2,901

0.16

0.23

Cleburne

1

0

4

0

0

5

2,917

0.15

0.23

Cleveland

0

0

0

0

0

0

 n/a

0.00

0.00

Columbia

0

0

5

0

0

5

2,387

0.19

0.28

Conway

0

0

2

0

0

2

4,674

0.10

0.14

Craighead

3

0

40

0

9

52

738

0.61

0.91

Crawford

1

0

36

0

4

41

562

0.80

1.20

Crittenden

0

0

16

0

3

19

1,179

0.38

0.57

Cross

0

0

6

0

1

7

1,207

0.37

0.56

Dallas

0

0

1

0

0

1

4,512

0.10

0.15

Desha

0

0

1

0

1

2

3,433

0.13

0.20

Drew

0

0

1

0

0

1

8,809

0.05

0.08

Faulkner

0

0

43

0

7

50

824

0.55

0.82

Franklin

0

0

1

0

0

1

7,951

0.06

0.08

Fulton

0

0

1

0

0

1

6,222

0.07

0.11

Garland

5

0

37

0

47

89

525

0.86

1.28

Grant

0

0

4

0

0

4

1,861

0.24

0.36

Greene

2

0

12

0

4

18

978

0.46

0.69

Hempstead

1

0

7

0

1

9

1,179

0.38

0.57

Hot Spring

0

0

12

0

2

14

990

0.46

0.68

Howard

0

0

0

0

0

0

 n/a

0.00

0.00

Independence

0

0

2

0

1

3

5,158

0.09

0.13

Izard

0

0

1

0

1

2

3,437

0.13

0.20

Jackson

0

0

4

0

0

4

2,036

0.22

0.33

Jefferson

0

0

12

0

0

12

2,966

0.15

0.23

Johnson

0

0

8

0

1

9

1,161

0.39

0.58

Lafayette

0

0

0

0

0

0

 n/a

0.00

0.00

Lawrence

0

0

0

0

0

0

 n/a

0.00

0.00

Lee

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Little River

0

0

2

0

0

2

3,333

0.14

0.20

Logan

0

0

5

0

0

5

2,052

0.22

0.33

Lonoke

1

0

60

0

15

76

324

1.40

2.08

Madison

0

0

2

0

1

3

2,298

0.20

0.29

Marion

0

0

3

0

0

3

2,936

0.15

0.23

Miller

0

0

5

0

1

6

3,163

0.14

0.21

Mississippi

0

0

15

0

3

18

1,262

0.36

0.53

Monroe

0

0

1

0

1

2

2,621

0.17

0.26

Montgomery

0

0

0

0

0

0

 n/a

0.00

0.00

Nevada

0

0

0

0

1

1

5,976

0.08

0.11

Newton

0

0

1

0

0

1

4,488

0.10

0.15

Ouachita

0

0

5

0

0

5

2,737

0.17

0.25

Perry

0

0

1

0

0

1

4,910

0.09

0.14

Phillips

0

0

4

0

1

5

2,201

0.21

0.31

Pike

0

0

2

0

0

2

2,893

0.16

0.23

Poinsett

0

0

3

0

0

3

3,826

0.12

0.18

Polk

0

0

0

0

0

0

 n/a

0.00

0.00

Pope

0

0

13

0

0

13

1,873

0.24

0.36

Prairie

0

0

0

0

0

0

 n/a

0.00

0.00

Pulaski

9

0

288

0

82

379

457

0.99

1.47

Randolph

0

0

3

0

0

3

2,927

0.15

0.23

Saint Francis

0

0

6

0

0

6

1,944

0.23

0.35

Saline

8

0

66

0

11

85

462

0.98

1.46

Scott

0

0

1

0

1

2

2,561

0.18

0.26

Searcy

0

0

0

0

1

1

4,455

0.10

0.15

Sebastian

5

0

44

0

8

57

920

0.49

0.73

Sevier

0

0

2

0

0

2

3,325

0.14

0.20

Sharp

0

0

3

0

0

3

3,190

0.14

0.21

Stone

0

0

0

0

0

0

 n/a

0.00

0.00

Union

0

0

1

0

18

19

1,114

0.41

0.60

Van Buren

0

0

2

0

0

2

4,793

0.09

0.14

Washington

11

0

189

0

78

278

287

1.57

2.34

White

0

0

24

0

7

31

960

0.47

0.70

Woodruff

0

0

2

0

0

2

2,097

0.22

0.32

Yell

0

0

5

0

1

6

1,601

0.28

0.42

 

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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