CHICAGO FORECLOSURES DECREASE 10 PERCENT

CHICAGO FORECLOSURES DECREASE 10 PERCENT ACCORDING TO REALTYTRAC™ OCTOBER U.S. FORECLOSURE MARKET REPORT
Chicago Foreclosure Rate Drops to Third Highest Among Nation’s Top Five Metro Areas; Illinois Foreclosures Down 20 Percent.

Irvine, Calif. – Novemeber 28, 2005 – Chicago foreclosures decreased for the second month in a row, lowering the city’s foreclosure rate from second highest to third highest among the nation’s five largest metropolitan areas, according to the RealtyTrac™ October 2005 U.S. Foreclosure Market Report. It was the first month since June that Chicago’s foreclosure rate ranked lower than second place among the top five metros.

RealtyTrac publishes the largest national database of pre-foreclosure and foreclosure properties, with more than 550,000 properties in nearly 2,000 counties across the country, and is the foreclosure data provider to MSN House & Home, Yahoo! Real Estate, AOL Real Estate and HomeGain.com.

Cook County reported 1,871 properties entering some stage of foreclosure in October, an 11 percent decline from the previous month and a rate of one foreclosure for every 1,120 households. Although the city’s foreclosure rate stayed above state and national averages, it dropped below that of Philadelphia, which reported increasing foreclosures in October. Chicago’s foreclosure rate also stayed below the foreclosure rates in Dallas-Fort Worth. New York and Los Angeles foreclosure rates were both lower Chicago’s.

“Chicago foreclosures have dropped more than 14 percent over the last two months, which sets the region apart from most of the other major metropolitan areas,” said James J. Saccacio, RealtyTrac chief executive officer. “None of the other top five metropolitan areas reported decreases in foreclosures in both of the last two months. And Illinois foreclosures decreased significantly while U.S foreclosures in October rose to their highest level so far this year.”

Nationwide, foreclosures increased nearly 19 percent in October, with a total of 81,382 properties entering some stage of foreclosure. That was a rate of one foreclosure for every 1,422 households. Meanwhile, Illinois foreclosures decreased for the second month in a row. The state reported 3,170 properties entering some stage of foreclosure, a 20 percent drop and a rate of one foreclosure for every 1,543 households.

Most of the collar counties around Chicago reported fewer foreclosures. Kane County reported 93 properties entering some stage of foreclosure, a 36 percent decrease and the biggest percentage drop of any of the collar counties. McHenry County foreclosures decreased 28 percent in October, with a total of 66 properties entering some stage of foreclosure. De Kalb and Lake counties both registered decreases of close to 20 percent, and the foreclosure rates in both counties were below the national average. New foreclosures in Du Page County dropped just 1.4 percent, with 139 properties entering some stage of foreclosure in October.

In contrast, foreclosures in Will County more than doubled in October. The county reported 190 properties entering some stage of foreclosure, a rate of one foreclosure for every 924 households. The county’s foreclosure rate was 1.5 times the national average. Foreclosures also increased substantially in Kendall County, where 17 properties entered some stage of foreclosure in October.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a graphical map that illustrates foreclosure percentiles by state (appended to this press release or available by request), as well as the total number of homes in some stage of foreclosure nationwide and by state over the preceding month. Data is also available at the individual county level. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been repurchased by a bank).

Below are foreclosure market statistics nationwide and by state:

State Name NODs NTSs NFSs LISs REOs Total %change
US 10/2005 21,824 31,832 1,947 8,526 17,253 81,382 18.55
Alabama 6 41 0 0 111 158 -11.73
Alaska 1 77 0 0 13 91 8.33
Arizona 106 1,713 0 0 116 1,935 -6.88
Arkansas 23 506 0 0 86 615 -34.99
California 3,854 663 0 0 162 4,679 -6.31
Colorado 1,728 144 0 0 696 2,568 -28.71
Connecticut 2,170 14 0 0 3 2,187 7,710.71
Delaware 2 2 0 0 2 6 -40.00
District of Columbia 0 1 0 0 7 8 -33.33
Florida 0 0 842 6,443 344 7,629 -16.92
Georgia 7 2,554 0 0 897 3,458 -11.85
Hawaii 24 16 0 0 3 43 -56.12
Idaho 56 102 0 0 19 177 3.51
Illinois 1,922 99 0 0 1,149 3,170 -20.29
Indiana 835 609 0 0 673 2,117 -13.87
Iowa 12 20 0 0 108 140 1.45
Kansas 12 6 0 0 81 99 -1.00
Kentucky 104 21 0 0 25 150 -10.71
Louisiana 15 46 0 0 189 250 25.00
Maine 2 1 0 0 0 3 -57.14
Maryland 4 296 0 0 138 438 -12.75
Massachusetts 53 790 0 0 7 850 4,373.68
Michigan 41 1,974 0 0 2,354 4,369 66.63
Minnesota 45 26 0 0 175 246 64.00
Mississippi 2 50 0 0 115 167 81.52
Missouri 23 72 0 0 871 966 2.66
Montana 1 75 0 0 28 104 -7.96
Nebraska 149 6 0 0 47 202 -42.29
Nevada 43 271 0 0 25 339 -40.42
New Hampshire 0 4 0 0 5 9 350.00
New Jersey 7,375 309 0 0 151 7,835 218.37
New Mexico 962 301 0 0 35 1,298 332.67
New York 1 0 1,105 2,083 357 3,546 42.24
North Carolina 28 184 0 0 948 1,160 27.61
North Dakota 0 1 0 0 3 4 -42.86
Ohio 160 2,145 0 0 2,395 4,700 -18.95
Oklahoma 265 393 0 0 247 905 -7.93
Oregon 159 235 0 0 59 453 -20.53
Pennsylvania 525 1,406 0 0 715 2,646 11.22
Rhode Island 0 1 0 0 0 1 0.00
South Carolina 32 74 0 0 407 513 51.33
South Dakota 0 0 0 0 3 3 -82.35
Tennessee 8 828 0 0 1,101 1,846 -14.26
Texas 88 14,367 0 0 1,931 16,386 68.30
Utah 654 33 0 0 258 945 2.72
Vermont 2 1 0 0 4 7 250.00
Virginia 3 214 0 0 93 310 37.78
Washington 24 892 0 0 85 1,001 1.62
West Virginia 0 71 0 0 0 71 -30.39
Wisconsin 298 172 0 0 60 530 3.92
Wyoming 0 2 0 0 14 16 -27.27

About RealtyTrac Inc.
Ranked as the fourth-largest real estate site by Nielsen Net Ratings, 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 and For Sale By Owner properties, with more than 550,000 properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts close to two million unique visitors monthly and is the exclusive foreclosure data supplier to MSN House & Home, Yahoo! Real Estate and HomeGain as well as the foreclosure data provider to AOL Real Estate. For more information, visit www.realtytrac.com.

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Media Contact:
Michelle Sabolich
Atomic Public Relations
415-402-0230
michelle.sabolich@atomicpr.com

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