DELAWARE FORECLOSURES INCREASE 198 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 614 Percent From August 2006

 

IRVINE, Calif. – Sept. 21, 2007 – Delaware reported 250 foreclosure filings in August, a 198 percent increase from the previous month and 614 percent above the level reported in August 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 have increased significantly both in August and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The reason for this latest spike in activity is found in the large increase in sheriff’s sales numbers from last month.”

 

Delaware ranked 40th in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 1,499 households ranked it 30th among the 50 states.

 

Kent County posts highest foreclosure total and rate for the month

Kent County reported 114 foreclosure filings, the most of any county for the month. The county also posted the state’s highest foreclosure rate for the month, one foreclosure filing for every 510 households — 2.9 times the state average.

 

New Castle County reported the second highest county total with 113 filings, and the second highest foreclosure rate, one foreclosure filing for every 1,855 households.

 

Sussex County came in third, reporting 23 filings in some stage of the foreclosure pipeline, and a foreclosure rate of one foreclosure filing for every 4,657 households.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in Delaware accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Delaware

0

0

227

7

16

250

1,499

0.34

n/a

 

 

 

 

 

 

 

 

 

 

Kent

0

0

112

2

0

114

510

1.00

2.94

New Castle

0

0

94

4

15

113

1,855

0.28

0.81

Sussex

0

0

21

1

1

23

4,657

0.11

0.32

 

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).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

 

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