CHICAGO FORECLOSURES UP 14 PERCENT IN AUGUST

CHICAGO FORECLOSURES UP 14 PERCENT ACCORDING TO REALTYTRAC™ AUGUST U.S. FORECLOSURE MARKET REPORT
Chicago Foreclosure Rate Remains Second-Highest Among Nation’s Top Five Metro Areas; Illinois Foreclosure Rates Inch Higher

Irvine, Calif. – October 3, 2005 – With more than 2,100 properties entering some stage of foreclosure in August, Chicago reported increasing foreclosures for the second consecutive month, and the city’s foreclosure rate remained second highest among the nation’s five largest metropolitan areas, according to the RealtyTrac™ August 2005 U.S. Foreclosure Market Report.

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 2,149 foreclosures in August, an increase of 14 percent from July and one foreclosure for every 975 properties. Of the top-five metropolitan areas, only Dallas-Fort Worth documented a higher foreclosure rate than Chicago. Los Angeles, New York and Philadelphia all had lower foreclosure rates, although foreclosures increased in those cities also.

“While foreclosures nationwide dipped slightly in August, Chicago and several other major metropolitan areas reported more foreclosures,” said James J. Saccacio, RealtyTrac chief executive officer. “If foreclosures continue to increase in major metropolitan areas, it could be a signal that more homeowners in those typically high-priced areas are reaching the ceiling of what they can afford.”

Chicago’s foreclosure rate was 1.6 times the national average and just slightly above the state average of one foreclosure for every 1,150 properties. Illinois reported a total of 4,251 properties entering some stage of foreclosure or foreclosed on, the fifth most foreclosures reported by any state and a 2.7 percent increase from July.

While foreclosures in Cook County increased, most of the collar counties around Chicago reported the same number or fewer foreclosures. De Kalb and Lake counties reported exactly the same number of foreclosures in August as in July, with 22 and 173 respectively. Both counties documented foreclosure rates below the state average.

Foreclosure numbers dropped in Du Page, Will and Kane counties. Foreclosures in Du Page County declined 16 percent, and the county recorded one foreclosure for every 2,869 households – less than half the state average. Will County reported 155 foreclosures, a 23 percent decrease and one foreclosure for every 1,132 households. With 73 foreclosures reported, Kane County maintained a foreclosure rate below state and national averages.

Kendall and McHenry counties both registered foreclosure rates above state and national averages thanks to increases in the number of foreclosure properties reported in August. Kendall County reported only 27 foreclosures, but that was one for every 723 households. With 85 foreclosures, McHenry County documented one foreclosure for every 1,093 households.

Foreclosures nationwide dropped 4.3 percent in August after two consecutive months of increases. Still, August’s foreclosure numbers were higher than any other month except for July. A total of 75,599 properties entered some stage of foreclosure or were foreclosed on – one for every 1,530 households.

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 %tile
US 8/2005 18629 26107 1583 11339 17941 75599
Alabama 8/2005 2 55 0 0 16 73 13.73
Alaska 8/2005 0 133 0 0 7 140 72.55
Arizona 8/2005 520 2271 0 0 122 2913 94.12
Arkansas 8/2005 20 879 0 0 69 968 76.47
California 8/2005 4174 510 0 0 126 4810 56.86
Colorado 8/2005 1349 132 0 0 925 2406 92.16
Connecticut 8/2005 876 3 0 0 0 879 68.63
Delaware 8/2005 6 1 0 0 12 19 21.57
District of Columbia 8/2005 0 0 0 0 12 12 17.65
Florida 8/2005 0 0 977 8656 542 10175 96.08
Georgia 8/2005 9 2280 0 0 884 3173 84.31
Hawaii 8/2005 1743 26 0 0 4 1773 100.00
Idaho 8/2005 54 69 0 0 29 152 49.02
Illinois 8/2005 2724 39 0 0 1488 4251 78.43
Indiana 8/2005 910 829 0 0 1105 2844 86.27
Iowa 8/2005 14 2 0 0 0 95 27.45
Kansas 8/2005 9 5 0 0 23 37 11.76
Kentucky 8/2005 109 4 0 0 43 156 31.37
Louisiana 8/2005 48 69 0 0 57 174 33.33
Maine 8/2005 4 0 0 0 0 4 3.92
Maryland 8/2005 8 338 0 0 336 682 52.94
Massachusetts 8/2005 33 289 0 0 2 324 39.22
Michigan 8/2005 2314 167 0 0 1642 4123 82.35
Minnesota 8/2005 6 10 0 0 77 93 19.61
Mississippi 8/2005 1 19 0 0 21 41 9.80
Missouri 8/2005 36 5 0 0 630 671 47.06
Montana 8/2005 2 49 0 0 9 60 43.14
Nebraska 8/2005 56 7 0 0 18 81 37.25
Nevada 8/2005 92 420 0 0 56 568 70.59
New Hampshire 8/2005 1 0 0 0 22 23 15.69
New Jersey 8/2005 613 794 0 0 131 1538 60.78
New Mexico 8/2005 878 4 0 0 46 928 90.20
New York 8/2005 0 0 606 2683 135 3424 58.82
North Carolina 8/2005 130 81 0 0 898 1109 50.98
North Dakota 8/2005 0 1 0 0 4 5 7.84
Ohio 8/2005 143 1839 0 0 2588 4570 80.39
Oklahoma 8/2005 463 523 0 0 199 1185 74.51
Oregon 8/2005 164 226 0 0 80 470 54.90
Pennsylvania 8/2005 131 1541 0 0 867 2539 62.75
Rhode Island 8/2005 0 1 0 0 0 1 1.96
South Carolina 8/2005 41 12 0 0 305 358 45.10
South Dakota 8/2005 1 15 0 0 4 20 25.49
Tennessee 8/2005 10 422 0 0 1048 1480 66.67
Texas 8/2005 16 10676 0 0 2761 13453 98.04
Utah 8/2005 605 9 0 0 286 900 88.24
Vermont 8/2005 1 1 0 0 0 3 5.88
Virginia 8/2005 0 266 0 0 43 309 35.29
Washington 8/2005 32 1005 0 0 148 1185 64.71
West Virginia 8/2005 0 71 0 0 3 74 29.41
Wisconsin 8/2005 278 8 0 0 27 313 41.18
Wyoming 8/2005 1 1 0 0 11 13 23.53

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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