HAWAII FORECLOSURE ACTIVITY UP 71 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Increases 245 Percent From August 2006

 

IRVINE, Calif. – Sept. 21, 2007 – Hawaii reported 145 foreclosure filings in August, up 71 percent increase from the previous month and a 245 percent increase from 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.

 

“Although Hawaii foreclosures have increased both in August and from this time last year, they are still lower than most other states,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state has one of the lowest unemployment rates in the nation, although it was slightly higher in August.”

 

Hawaii ranked among the 10 lowest states in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 3,387 households ranked it again among the 10 lowest in the nation.

 

Honolulu County accounts for largest share of state total

Honolulu County reported the highest foreclosure total for the month with 72 foreclosure filings. Hawaii County came in second with 32 foreclosure filings, followed by Maui County with 29 filings entering in some stage of the foreclosure pipeline.

 

Highest foreclosure rate reported in Maui County

With a rate of one foreclosure filing for every 2,144 households — 1.6 times the state average — Maui County reported the highest county foreclosure rate in the state for August. Close behind was Hawaii County, posting the second highest rate, one foreclosure filing for every 2,250 households — 1.5 times the state average. Kauai County posted the third highest foreclosure rate, one foreclosure filing for every 2,287 households — 1.5 times the state average.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in Hawaii 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.

 

 

                           Hawaii 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

Hawaii

10

127

0

0

8

145

3,387

0.15

n/a

 

 

 

 

 

 

 

 

 

 

Hawaii

4

28

0

0

0

32

2,250

0.23

1.51

Honolulu

2

66

0

0

4

72

4,574

0.11

0.74

Kauai

1

8

0

0

3

12

2,287

0.22

1.48

Maui

3

25

0

0

1

29

2,144

0.24

1.58

 

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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