HOUSTON FORECLOSURES INCREASE 15 PERCENT IN AUGUST

Houston Foreclosure Rate Fourth Highest Among Nation’s Top 10 Metros
Texas Foreclosures Up 9 Percent

IRVINE, Calif. – Sept. 24, 2006 – Houston foreclosure activity increased 15 percent in August, a slower pace of increase than reported nationwide but still enough to keep the area’s foreclosure rate at more than two times the national average and fourth highest among the nation’s 10 largest metropolitan areas, according to the August 2006 RealtyTrac™ U.S. Foreclosure Market Report.

The 10-county metropolitan area reported 4,069 properties entering some stage of foreclosure during the month, a foreclosure rate of one new foreclosure filing for every 442 households.
 
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

“While the foreclosure rate is high in Houston, we did not see foreclosure activity increase there as much as it did in many other areas,” said James J. Saccacio, chief executive officer of RealtyTrac.

Houston posted a foreclosure rate higher than the foreclosure rates in Chicago, Phoenix, Philadelphia, Los Angeles, New York and Washington. The city’s foreclosure rate was lower than foreclosure rates in Dallas, Atlanta and Riverside, Calif.

Harris County reported 3,006 properties entering some stage of foreclosure, the most of any county in the metro area and an increase of 17 percent from the previous month. The county’s foreclosure rate of one new foreclosure filing for every 432 households was 2.3 times the national average.

Fort Bend County documented the highest foreclosure rate in the metro area, with one new foreclosure filing for every 247 households — more than four times the national average. The county reported 470 properties entering some stage of foreclosure during the month.

Foreclosure rates were much lower in some of the less-populous counties in the metro area. Austin, Chambers, Liberty, San Jacinto and Waller counties all documented foreclosure rates below the national average.

Texas reported 14,278 properties entering some stage of foreclosure during the month, an increase of nearly 9 percent from the previous month and a 6 percent increase from August 2005. The state’s foreclosure rate of one new foreclosure filing for every 564 households was the nation’s fifth highest, and only Florida reported a higher number of new foreclosures.

U.S. foreclosure activity increased 24 percent in August, with 115,292 properties entering some stage of foreclosure during the month — the second highest number reported in any month year to date and one new foreclosure filing for every 1,003 households.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, statewide and by county in the Houston Metropolitan Statistical Area. 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 re-purchased by a bank).

Houston Foreclosure Market Statistics by County – Aug 2006

Geography NOD NTS NFS LIS REO Total 1 in every # households /National Average

US

20,611

45,704

7,328

21,533

20,116

115,292

1,003

Texas

103

12,836

0

0

1,339

14,278

564

1.779

Houston MSA

6

3,995

0

0

68

4,069

442

2.268

Austin County

0

1

0

0

0

1

10,205

0.098

Brazoria County

0

132

0

0

4

136

666

1.505

Chambers County

0

3

0

0

2

5

2,067

0.485

Fort Bend County

1

468

0

0

1

470

247

4.064

Galveston County

0

165

0

0

3

168

665

1.508

Harris County

5

2,948

0

0

53

3,006

432

2.322

Liberty County

0

2

0

0

3

5

5,272

0.190

Montgomery County

0

275

0

0

2

277

407

2.464

San Jacinto County

0

0

0

0

0

0

 

0.000

Waller County

0

1

0

0

0

1

11,995

0.084

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 construction properties, with more than 1 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 Contacts:
Michelle Schneider
949.502.8300 Ext. 139
michelle.schneider@realtytrac.com

Christine Stricker
949.502.8300 Ext. 268
christine.stricker@realtytrac.com

Detailed & Historical Data:
Tyler White
949.502.8300 Ext. 158
tyler.white@realtytrac.com

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