ARKANSAS FORECLOSURES DECREASE 15 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 48 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – Arkansas reported 1,044 foreclosure filings in July, a 15 percent decrease from the previous month, but still up 48 percent from July 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.

 

Although Arkansas foreclosures decreased in July, the numbers are still up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state currently holds one of the highest unemployment rates in the country which is contributing to the overall rise in foreclosures.”

 

Arkansas ranked 25th in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 1,234 households ranked it 17th among the 50 states.

 

Pulaski County leads all in foreclosure activity

Pulaski County led the state in foreclosure activity for July, reporting 214 foreclosure filings. Garland County reported the second highest county total with 149 filings. Benton County reported the third highest county total with 112 filings, followed by Washington County with 85 filings entering some part of the foreclosure pipeline. Craighead and Saline counties tied for fifth highest county total with 55 filings each for the month.

 

Highest foreclosure rate reported in Garland County

With a rate of one foreclosure filing for every 311 households — 3.9 times the state average and 2.2 times the national average — Garland County reported the highest county foreclosure rate in the state for July. Lonoke County posted the second highest rate, one foreclosure filing for every 553 households – 2.2 times the state average and 1.3 times the national average. Benton County posted the third highest foreclosure rate, one foreclosure filing for every 679 households — 1.8 times the state average and on par with the national average. Craighead County came in fourth with a foreclosure rate of one foreclosure filing for every 686 households. Saline County rounded out the state’s top five with a rate of one foreclosure filing for every 693 households.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in Arkansas accounted for 1 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Arkansas

20

861

0

0

163

1,044

1,196

0.58

n/a

 

 

 

 

 

 

 

 

 

 

Arkansas

0

4

0

0

0

4

2,453

0.28

0.49

Ashley

0

2

0

0

0

2

5,453

0.13

0.22

Baxter

0

3

0

0

2

5

4,152

0.17

0.29

Benton

0

91

0

0

21

112

679

1.02

1.76

Boone

0

9

0

0

0

9

1,774

0.39

0.67

Bradley

0

3

0

0

2

5

1,190

0.58

1.01

Carroll

0

4

0

0

0

4

3,064

0.23

0.39

Chicot

0

3

0

0

1

4

1,527

0.45

0.78

Clark

0

3

0

0

0

3

3,531

0.20

0.34

Clay

0

1

0

0

0

1

8,648

0.08

0.14

Cleburne

0

3

0

0

0

3

4,790

0.14

0.25

Cleveland

0

2

0

0

0

2

1,976

0.35

0.61

Columbia

0

3

0

0

0

3

3,949

0.18

0.30

Conway

0

3

0

0

0

3

3,085

0.22

0.39

Craighead

3

47

0

0

5

55

686

1.01

1.75

Crawford

0

17

0

0

2

19

1,191

0.58

1.00

Crittenden

0

16

0

0

0

16

1,371

0.51

0.87

Cross

0

2

0

0

0

2

4,168

0.17

0.29

Desha

0

3

0

0

0

3

2,275

0.30

0.53

Drew

0

3

0

0

0

3

2,901

0.24

0.41

Faulkner

0

32

0

0

3

35

1,119

0.62

1.07

Franklin

0

3

0

0

0

3

2,627

0.26

0.46

Fulton

0

0

0

0

0

0

n/a

0.00

0.00

Garland

4

87

0

0

58

149

311

2.23

3.85

Grant

0

3

0

0

0

3

2,432

0.29

0.49

Greene

0

15

0

0

2

17

1,017

0.68

1.18

Hempstead

0

3

0

0

0

3

3,487

0.20

0.34

Hot Spring

0

3

0

0

0

3

4,574

0.15

0.26

Howard

0

0

0

0

0

0

n/a

0.00

0.00

Independence

0

4

0

0

0

4

3,827

0.18

0.31

Izard

0

1

0

0

0

1

6,786

0.10

0.18

Jackson

0

4

0

0

0

4

2,022

0.34

0.59

Jefferson

0

12

0

0

0

12

2,941

0.24

0.41

Johnson

0

2

0

0

0

2

5,165

0.13

0.23

Lawrence

0

2

0

0

0

2

4,119

0.17

0.29

Little River

0

1

0

0

0

1

6,588

0.11

0.18

Logan

0

3

0

0

0

3

3,392

0.20

0.35

Lonoke

0

38

0

0

5

43

553

1.25

2.17

Madison

0

1

0

0

0

1

5,820

0.10

0.18

Miller

0

7

0

0

0

7

2,686

0.26

0.45

Mississippi

0

17

0

0

0

17

1,329

0.52

0.90

Monroe

0

1

0

0

0

1

5,204

0.13

0.23

Montgomery

0

1

0

0

0

1

5,221

0.13

0.23

Ouachita

0

4

0

0

1

5

2,721

0.25

0.44

Phillips

0

3

0

0

1

4

2,744

0.25

0.44

Pike

0

2

0

0

0

2

2,856

0.24

0.42

Poinsett

0

2

0

0

0

2

5,689

0.12

0.21

Polk

0

1

0

0

1

2

4,757

0.15

0.25

Pope

0

4

0

0

0

4

6,007

0.12

0.20

Prairie

0

1

0

0

0

1

4,904

0.14

0.24

Pulaski

7

185

0

0

22

214

797

0.87

1.50

Randolph

0

1

0

0

6

7

1,232

0.56

0.97

Saint Francis

0

8

0

0

0

8

1,444

0.48

0.83

Saline

3

38

0

0

14

55

693

1.00

1.73

Scott

0

2

0

0

0

2

2,535

0.27

0.47

Sebastian

3

46

0

0

4

53

977

0.71

1.22

Sevier

0

2

0

0

0

2

3,290

0.21

0.36

Sharp

0

2

0

0

1

3

3,193

0.22

0.37

Union

0

4

0

0

0

4

5,249

0.13

0.23

Van Buren

0

5

0

0

0

5

1,895

0.37

0.63

Washington

0

75

0

0

10

85

906

0.77

1.32

White

0

10

0

0

2

12

2,434

0.28

0.49

Woodruff

0

3

0

0

0

3

1,387

0.50

0.86

Yell

0

1

0

0

0

1

9,503

0.07

0.13

 

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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