DELAWARE FORECLOSURE ACTIVITY DOWN 4 PERCENT IN SEPTEMBER

Activity Up 564 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Delaware reported 239 foreclosure filings in September, a 4 percent decrease from the previous month, but still 564 percent above the number reported in September 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.

 

Delaware’s economy continues to strengthen and its unemployment rate remains low,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, foreclosure activity within the state remains considerably elevated compared to this time a year ago.”

 

Delaware ranked 40th in the country in total foreclosures reported for September. The state’s foreclosure rate of one foreclosure filing for every 1,569 households ranked 27th among the 50 states.

 

New Castle County leads state in both foreclosure activity and rate

New Castle County led the state with 167 foreclosure filings for the month, a foreclosure rate of one foreclosure filing for every 1,255 households — 1.3 times the state average.

 

Kent County reported both the second highest state total and foreclosure rate for the month with 44 foreclosure filings, a rate of one foreclosure filing for every 1,322 households — 1.2 times the state average.

 

Sussex County came in third for both activity level and foreclosure rate, reporting 28 filings, one foreclosure filing for every 3,826 households.

 

State makes minor contribution to nation’s monthly total

Total filings in Delaware accounted for less than 1 percent of the 223,538 foreclosure filings reported nationwide in September. The national total represents an 8 percent decrease from the previous month, but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 557 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.

 

 

               Delaware Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Delaware

0

1

211

2

25

239

1,569

0.36

n/a

 

 

 

 

 

 

 

 

 

 

Kent

0

0

43

1

0

44

1,322

0.42

1.19

New Castle

0

0

141

1

25

167

1,255

0.44

1.25

Sussex

0

1

27

0

0

28

3,826

0.15

0.41

 

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).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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