DALLAS-FORT WORTH FORECLOSURES DOWN FROM JANUARY SPIKE

DALLAS-FORT WORTH FORECLOSURES DECREASE 24 PERCENT ACCORDING TO REALTYTRAC™ FEBRUARY U.S. FORECLOSURE MARKET REPORT

Area’s Foreclosure Rate Still Highest Among Nation’s Five Largest Metros. Texas Foreclosures Down 18 Percent.

Irvine, Calif. – March 22, 2006 – Foreclosure filings dropped 24 percent in the Dallas-Fort Worth region in February, but the area still documented the highest foreclosure rate among the nation’s five largest metropolitan areas, according to the RealtyTrac™ February 2006 U.S. Foreclosure Market Report. The 14-county metropolitan area reported 6,635 properties entering some stage of foreclosure and a foreclosure rate of one new foreclosure for every 309 households.

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from over 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

“Despite fewer foreclosures in February, Dallas-Fort Worth’s foreclosure rate is still more than three times the national average,” said James J. Saccacio, chief executive officer of RealtyTrac. “But it’s a positive sign for the local housing market that new foreclosure filings backed down from the spike we saw in January.”

Dallas County reported 2,921 properties entering some stage of foreclosure in February, a 30 percent decrease from the previous month and a foreclosure rate of one new foreclosure for every 292 households. New foreclosures decreased 12 percent in Tarrant County, where 1,921 properties entered some stage of foreclosure, a foreclosure rate of one new foreclosure for every 294 households.

Denton County foreclosure filings decreased 22 percent in February, but the county’s foreclosure rate of one new foreclosure for every 244 households was four times the national average. Collin County foreclosures also dropped 22 percent in February, with a total of 657 properties entering some stage of foreclosure, but the county’s foreclosure rate of one foreclosure for every 296 households stayed above state and national averages.

Most other counties in the Dallas metropolitan area also reported fewer new foreclosures in February. The only two exceptions were Parker County, which reported a 24 percent increase with 87 new foreclosures, and Rockwall County, which reported 109 new foreclosures — exactly the same number as the previous month. With one new foreclosure for every 140 households, Rockwall County registered the highest county foreclosure rate in the metropolitan area

With 13,616 properties entering some stage of foreclosure in February, Texas reported the most new foreclosures of any state for the third month in a row even though foreclosures decreased 7 percent from the previous month. The state’s foreclosure rate of one new foreclosure for every 591 households was eighth highest among the states and 1.7 times the national average.

A total of 117,259 U.S. properties entered some stage of foreclosure in February, a 13 percent increase from the previous month and a 68 percent increase from February 2005. The nation registered a foreclosure rate of one new foreclosure for every 986 households.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides 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 foreclosed on and repurchased by a bank).

Below are foreclosure market statistics nationwide and by state:

State Name NODs NTSs NFSs LISs REOs Total

1 in every #households

%Change prev. month
US 2/2006 20,759 38,839 2,423 10,554 44,684 117,259 986 13
Alabama 1 58 0 0 21 80 24,543 -22
Alaska 4 56 0 0 14 74 2,773 -24
Arizona 107 1,973 0 0 83 2,163 1,012 7
Arkansas 16 589 0 0 501 1,106 1,061 -17
California 6,869 2,079 0 0 162 9,110 1,341 -3
Colorado 1,967 463 0 0 1,698 4,128 443 10
Connecticut 897 21 0 0 31 949 1,460 899
Delaware 1 7 0 0 11 19 18,056 -47
District of Columbia 0 2 0 0 5 7 39,264 0
Florida 0 0 1,421 7,850 748 10,019 729 -3
Georgia 1 5,997 0 0 3,423 9,421 329 28
Hawaii 19 36 0 0 0 55 8,373 62
Idaho 48 119 0 0 113 280 1,878 5
Illinois 1,735 108 0 0 2,726 4,569 1,070 1
Indiana 1,362 1,240 0 0 3,307 5,909 427 34
Iowa 0 12 0 0 347 359 3,433 -6
Kansas 0 24 0 0 137 161 7,006 -33
Kentucky 260 49 0 0 157 466 3,757 -24
Louisiana 1 45 0 0 52 98 19,216 -20
Maine 0 3 0 0 6 9 72,432 -59
Maryland 0 247 0 0 25 272 7,877 -53
Massachusetts 10 342 0 0 18 370 7,086 538
Michigan 27 3,219 0 0 7,097 10,343 408 121
Minnesota 8 244 0 0 121 373 5,544 87
Mississippi 0 38 0 0 58 96 13,217 41
Missouri 18 389 0 0 1,802 2,209 1,103 76
Montana 2 84 0 0 6 92 4,479 8
Nebraska 79 11 0 0 139 229 3,138 -37
Nevada 677 1,047 0 0 37 1,761 493 -2
New Hampshire 0 6 0 0 2 8 68,378 -38
New Jersey 2,456 384 0 0 438 3,278 1,010 -6
New Mexico 604 247 0 0 60 911 857 36
New York 0 0 896 2,704 995 4,595 1,671 -12
North Carolina 497 153 0 0 2,545 3,195 1,102 33
North Dakota 0 0 0 0 10 10 28,967 -71
Ohio 0 2,841 0 0 7,032 9,873 484 19
Oklahoma 356 297 0 0 993 1,646 908 -4
Oregon 158 273 0 0 306 737 1,975 5
Pennsylvania 876 1,393 0 0 2,113 4,382 1,198 5
Rhode Island 1 3 0 0 0 4 109,959 33
South Carolina 103 211 106 0 548 968 1,811 18
South Dakota 0 12 0 0 9 21 15,391 -32
Tennessee 9 1,514 0 0 3,126 4,649 527 27
Texas 109 11,023 0 0 2,484 13,616 591 -7
Utah 858 113 0 0 215 1,186 648 27
Vermont 0 1 0 0 1 2 147,191 -86
Virginia 0 226 0 0 59 285 10,127 -41
Washington 10 1,493 0 0 505 2,008 1,191 30
West Virginia 0 43 0 0 17 60 14,077 -36
Wisconsin 613 103 0 0 344 1,060 2,172 166
Wyoming 0 1 0 0 16 17 13,168 31

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 600,000 properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts more than 2 million unique visitors monthly and has been chosen to supply foreclosure data to AOL Real Estate, MSN Real Estate and Yahoo! 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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