DELAWARE FORECLOSURE ACTIVITY UP 1 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Foreclosure Total Up 313 Percent From November 2006

 

IRVINE, Calif. – Dec. 19, 2007 – Delaware reported 132 foreclosure filings in November, a 1 percent increase from the previous month, and a 313 percent increase from November 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 foreclosures are up more than four times what they were this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that home sales throughout the state declined further than the national average during the past year. This may be contributing to the overall rise.”

 

Delaware ranked 42nd in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 2,840 households ranked it 36th among the 50 states.

 

Top three counties account for entire share of state total

Three counties accounted for 100 percent of all foreclosure filings in Delaware for November. New Castle County reported the highest foreclosure total for the month, with 102 foreclosure filings. Sussex County posted the second highest foreclosure total, with 27 foreclosure filings, followed by Kent County, with three foreclosure filings.

 

New Castle County posts highest foreclosure rate

New Castle County reported the highest foreclosure rate in Delaware for November, one foreclosure filing for every 2,055 households. Sussex County posted the second highest foreclosure rate, one foreclosure filing for every 3,967 households. Kent County registered the third highest foreclosure rate, one foreclosure filing for every 19,387 households.

 

State contributes less than 1 percent to nation’s monthly total

Total foreclosure filings in Delaware accounted for less than 1 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represents a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 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 – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Delaware

0

2

119

4

7

132

2,840

0.22

n/a

 

 

 

 

 

 

 

 

 

 

Kent

0

1

1

0

1

3

19,387

0.03

0.15

New Castle

0

0

92

4

6

102

2,055

0.30

1.38

Sussex

0

1

26

0

0

27

3,967

0.16

0.72

 

 

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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