IOWA FORECLOSURES DECREASE 25 PERCENT IN APRIL

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 136 Percent From a Year Ago

 

IRVINE, Calif. – May 18, 2007 – Iowa reported 435 foreclosure filings in April, a 25 percent decrease from the previous month, but a 136 percent increase from April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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 Iowa foreclosures decreased in April, the numbers have more than doubled since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home price appreciation rate was nearly 50 percent below the national average in 2006. This may be contributing to the overall rise.”

 

Iowa ranked 32nd in the country in total foreclosures for April. The state’s foreclosure rate of one foreclosure filing for every 2,833 households ranks it the 38th among the 50 states.

 

Top three counties account for largest share of state total

Three counties accounted for 73 percent of all foreclosure filings in Iowa for April. Polk County reported the highest total for the month with 227 foreclosure filings. Linn and Scott counties tied for second highest, both reporting 45 filings for the month.

 

Polk County posts highest foreclosure rate

Polk County posted the highest foreclosure rate in Iowa for April, reporting one foreclosure filing for every 689 households — 4.1 times the state average and 1.1 times the national average. Scott County reported the second highest rate with one foreclosure filing for every 1,459 households — 1.9 times the state average. Woodbury County was third with a rate of one filing for every 1,533 households — 1.9 times the state average. 

 

State makes minor contribution to national total

Total foreclosure filings in Iowa accounted for less than 1 percent of the 147,708 foreclosure filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. households during 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.

 

Iowa Foreclosure Market by County – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Iowa

20

253

0

0

162

435

2,833

0.28

n/a

 

 

 

 

 

 

 

 

 

 

Benton

0

0

0

0

0

0

n/a

0.00

0.00

Black Hawk

0

6

0

0

0

6

8,627

0.09

0.33

Boone

0

0

0

0

0

0

n/a

0.00

0.00

Bremer

1

0

0

0

1

2

4,669

0.17

0.61

Buena Vista

0

0

0

0

3

3

2,715

0.29

1.04

Cedar

0

1

0

0

0

1

7,570

0.10

0.37

Cerro Gordo

0

1

0

0

2

3

7,163

0.11

0.40

Cherokee

0

1

0

0

0

1

5,850

0.13

0.48

Clayton

0

0

0

0

1

1

8,619

0.09

0.33

Clinton

2

0

0

0

0

2

10,793

0.07

0.26

Dallas

1

0

0

0

6

7

2,361

0.33

1.20

Davis

0

1

0

0

0

1

3,530

0.22

0.80

Des Moines

0

5

0

0

0

5

3,729

0.21

0.76

Dubuque

0

0

0

0

1

1

35,505

0.02

0.08

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Fremont

0

0

0

0

0

0

n/a

0.00

0.00

Grundy

0

1

0

0

0

1

5,304

0.15

0.53

Hamilton

0

0

0

0

0

0

n/a

0.00

0.00

Harrison

1

0

0

0

0

1

6,602

0.12

0.43

Iowa

1

0

0

0

0

1

6,545

0.12

0.43

Jasper

0

9

0

0

0

9

1,740

0.45

1.63

Jefferson

0

0

0

0

0

0

n/a

0.00

0.00

Johnson

0

6

0

0

2

8

5,729

0.14

0.49

Jones

0

0

0

0

0

0

n/a

0.00

0.00

Linn

1

28

0

0

16

45

1,790

0.44

1.58

Louisa

0

0

0

0

1

1

5,133

0.15

0.55

Lucas

0

1

0

0

0

1

4,239

0.18

0.67

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Marshall

0

1

0

0

0

1

16,324

0.05

0.17

Mills

0

0

0

0

0

0

n/a

0.00

0.00

Mitchell

1

0

0

0

0

1

4,594

0.17

0.62

Monona

0

1

0

0

0

1

4,660

0.17

0.61

Montgomery

0

0

0

0

0

0

n/a

0.00

0.00

Muscatine

1

1

0

0

6

8

2,098

0.37

1.35

Page

0

0

0

0

0

0

n/a

0.00

0.00

Polk

8

134

0

0

85

227

689

1.14

4.11

Pottawattamie

0

1

0

0

2

3

11,920

0.07

0.24

Poweshiek

0

2

0

0

0

2

4,278

0.18

0.66

Scott

3

19

0

0

23

45

1,459

0.54

1.94

Shelby

0

0

0

0

1

1

5,459

0.14

0.52

Sioux

0

0

0

0

0

0

n/a

0.00

0.00

Story

0

1

0

0

0

1

30,630

0.03

0.09

Tama

0

1

0

0

0

1

7,583

0.10

0.37

Union

0

0

0

0

0

0

n/a

0.00

0.00

Wapello

0

1

0

0

0

1

15,873

0.05

0.18

Warren

0

7

0

0

0

7

2,184

0.36

1.30

Washington

0

2

0

0

0

2

4,272

0.18

0.66

Webster

0

1

0

0

6

7

2,424

0.32

1.17

Woodbury

0

21

0

0

6

27

1,533

0.51

1.85

Worth

0

0

0

0

0

0

n/a

0.00

0.00

 

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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