ARKANSAS FORECLOSURES INCREASE 55 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 11 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – Arkansas documented 1,186 new foreclosure filings in January, a 55 percent increase from the previous month, but an 11 percent decrease from January 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 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’ economic expansion continues to slow as does job growth within the state,” said James J. Saccacio, chief executive officer of RealtyTrac. “This deceleration and possibly the rise in foreclosure activity compared to last month can be attributed to mounting job losses in the manufacturing sector and sluggish growth in the trade, transportation and utilities sectors.”

 

Arkansas ranked 22nd in the country in total foreclosures reported for January. The state’s foreclosure rate of one new foreclosure filing for every 989 households ranked 16th among the 50 states.

 

Pulaski County leads state in foreclosure activity

Pulaski County documented the highest total, reporting 334 foreclosure filings for the month. Benton County documented the second highest total in the state, reporting 94 filings. Washington County posted the state’s third highest total reporting 88 foreclosure filings.

 

Pulaski County posts state’s top foreclosure rate

Pulaski County tallied the highest foreclosure rate in Arkansas for January, with one new foreclosure filing for every 481 households — 2.1 times the state average and 1.8 times the national average. Lonoke County registered the second highest foreclosure rate, with one new foreclosure filing for every 519 households — 1.9 times the state average and 1.7 times the national average. Craighead County posted the third highest foreclosure rate, with one new foreclosure filing for every 532 households — 1.9 times the state average and 1.7 times the national average.

 

State makes small contribution to national total

Arkansas accounted for 1 percent of the 130,511 foreclosure filings nationwide in January, up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Arkansas

12

1,107

0

0

67

1,186

989

0.90

n/a

 

 

 

 

 

 

 

 

 

 

Arkansas

0

4

0

0

0

4

2,418

0.37

0.41

Ashley

0

4

0

0

0

4

2,654

0.33

0.37

Baxter

0

8

0

0

0

8

2,486

0.36

0.40

Benton

0

91

0

0

3

94

684

1.30

1.45

Boone

0

19

0

0

0

19

812

1.09

1.22

Carroll

0

3

0

0

0

3

3,943

0.22

0.25

Chicot

0

4

0

0

0

4

1,494

0.59

0.66

Clark

0

6

0

0

0

6

1,694

0.52

0.58

Clay

0

6

0

0

0

6

1,416

0.63

0.70

Cleburne

0

3

0

0

0

3

4,577

0.19

0.22

Columbia

0

3

0

0

0

3

3,855

0.23

0.26

Conway

0

5

0

0

0

5

1,806

0.49

0.55

Craighead

0

57

0

0

9

66

532

1.66

1.86

Crawford

0

29

0

0

2

31

688

1.29

1.44

Crittenden

0

28

0

0

0

28

732

1.21

1.35

Cross

0

6

0

0

0

6

1,338

0.66

0.74

Dallas

0

1

0

0

0

1

4,401

0.20

0.22

Desha

0

4

0

0

0

4

1,666

0.53

0.59

Drew

0

3

0

0

0

3

2,762

0.32

0.36

Faulkner

0

37

0

0

3

40

864

1.03

1.15

Franklin

0

5

0

0

0

5

1,535

0.58

0.64

Fulton

0

1

0

0

0

1

5,973

0.15

0.17

Garland

0

55

0

0

0

55

817

1.08

1.21

Grant

0

4

0

0

0

4

1,740

0.51

0.57

Greene

0

14

0

0

2

16

1,010

0.88

0.98

Hempstead

0

3

0

0

0

3

3,389

0.26

0.29

Hot Spring

0

2

0

0

0

2

6,692

0.13

0.15

Howard

0

1

0

0

0

1

6,297

0.14

0.16

Independence

0

2

0

0

0

2

7,421

0.12

0.13

Izard

0

1

0

0

0

1

6,591

0.13

0.15

Jackson

0

4

0

0

0

4

1,989

0.45

0.50

Jefferson

0

23

0

0

0

23

1,493

0.59

0.66

Johnson

0

2

0

0

0

2

4,963

0.18

0.20

Lawrence

0

6

0

0

0

6

1,348

0.66

0.73

Lee

0

3

0

0

0

3

1,589

0.56

0.62

Lincoln

0

2

0

0

0

2

2,478

0.36

0.40

Little River

0

3

0

0

0

3

2,145

0.41

0.46

Logan

0

2

0

0

0

2

4,971

0.18

0.20

Lonoke

1

39

0

0

0

40

519

1.71

1.91

Madison

0

4

0

0

0

4

1,634

0.54

0.61

Miller

0

11

0

0

0

11

1,612

0.55

0.61

Mississippi

0

20

0

0

0

20

1,116

0.79

0.89

Montgomery

0

2

0

0

0

2

2,524

0.35

0.39

Nevada

0

2

0

0

0

2

2,376

0.37

0.42

Ouachita

0

4

0

0

0

4

3,363

0.26

0.29

Perry

0

1

0

0

0

1

4,702

0.19

0.21

Phillips

0

3

0

0

0

3

3,620

0.24

0.27

Pike

0

0

0

0

0

0

n/a

0.00

0.00

Poinsett

0

5

0

0

0

5

2,210

0.40

0.45

Polk

0

4

0

0

0

4

2,309

0.38

0.43

Pope

0

15

0

0

0

15

1,523

0.58

0.65

Prairie

0

0

0

0

0

0

n/a

0.00

0.00

Pulaski

8

299

0

0

28

335

481

1.84

2.06

Randolph

0

3

0

0

0

3

2,756

0.32

0.36

Saint Francis

0

5

0

0

0

5

2,248

0.39

0.44

Saline

1

53

0

0

8

62

546

1.62

1.81

Scott

0

1

0

0

0

1

4,924

0.18

0.20

Searcy

0

1

0

0

0

1

4,292

0.21

0.23

Sebastian

1

59

0

0

4

64

770

1.15

1.28

Sevier

0

4

0

0

0

4

1,609

0.55

0.61

Sharp

0

1

0

0

0

1

9,342

0.09

0.11

Union

0

8

0

0

0

8

2,585

0.34

0.38

Van Buren

0

1

0

0

0

1

9,164

0.10

0.11

Washington

0

83

0

0

5

88

731

1.21

1.35

White

1

18

0

0

3

22

1,255

0.71

0.79

Woodruff

0

2

0

0

0

2

2,045

0.43

0.48

Yell

0

5

0

0

0

5

1,831

0.48

0.54

 

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 construction properties, 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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