KENTUCKY FORECLOSURES DECREASE 20 PERCENT IN JULY

Yearly Total Up 20 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – Kentucky reported 644 foreclosure filings in July, a 20 percent decline from the previous month, but still up 20 percent from July 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 foreclosures decreased in Kentucky for July, the numbers are still up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state currently holds one of the highest unemployment rates in the nation. This factor is contributing to the overall increase we’re seeing in foreclosures.”

 

Kentucky ranked 28th in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 2,897 households ranked it 33rd highest among the 50 states.

 

Five counties account for bulk of state activity

Total foreclosure filings in five Kentucky counties accounted for 91 percent of the state’s activity in July. Jefferson County led the way, reporting 445 foreclosure filings for the month. Fayette and Kenton counties tied for second highest total in the state, each reporting 52 foreclosure filings for the month. Christian County came in fourth, tallying 18 filings, followed closely by fifth place Campbell County reporting 17 filings in the foreclosure pipeline.

 

Highest foreclosure rate reported in Jefferson County

Jefferson County posted the highest foreclosure rate in the state for July, one foreclosure filing for every 724 households — four times the state average. Kenton County posted the second highest rate, one foreclosure filing for every 1,314 households — 2.2 times the state average. Christian County came in third with a rate of one foreclosure filing for every 1,586 households — 1.8 times the state average. Fourth highest rate was posted in Gallatin County at one foreclosure filing for every 1,770 households — 1.6 times the state average. Campbell County rounded out the state’s top five with a rate of one foreclosure filing for every 2,258 households — 1.3 times the state average.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in Kentucky accounted for less than 1 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 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.

 

 

                     Kentucky Foreclosure Market by County – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Kentucky

3

18

345

102

176

644

2,897

0.24

n/a

 

 

 

 

 

 

 

 

 

 

Adair

0

0

0

0

0

0

n/a

0.00

0.00

Allen

0

0

1

0

0

1

8,371

0.08

0.35

Anderson

0

0

0

0

0

0

n/a

0.00

0.00

Ballard

0

0

0

0

0

0

n/a

0.00

0.00

Barren

0

0

0

0

0

0

n/a

0.00

0.00

Boone

0

0

3

2

0

5

8,356

0.08

0.35

Bourbon

0

0

0

0

0

0

n/a

0.00

0.00

Boyd

0

0

1

0

0

1

22,301

0.03

0.13

Boyle

0

0

1

1

0

2

3,067

0.11

0.48

Bracken

0

1

0

0

0

1

3,844

0.18

0.75

Breckinridge

0

0

0

0

0

0

n/a

0.00

0.00

Bullitt

0

0

3

0

0

3

9,083

0.08

0.32

Calloway

0

0

0

0

0

0

n/a

0.00

0.00

Campbell

0

0

1

13

3

17

2,258

0.31

1.28

Carroll

0

0

0

0

0

0

n/a

0.00

0.00

Carter

0

0

0

0

0

0

n/a

0.00

0.00

Casey

0

0

0

0

0

0

n/a

0.00

0.00

Christian

0

0

2

15

1

18

1,586

0.44

1.83

Clark

0

0

1

0

0

1

15,384

0.05

0.19

Clay

0

0

0

0

0

0

n/a

0.00

0.00

Clinton

0

0

0

0

0

0

n/a

0.00

0.00

Cumberland

0

0

0

0

0

0

n/a

0.00

0.00

Daviess

0

0

1

0

0

1

42,070

0.02

0.07

Edmonson

0

0

0

0

0

0

n/a

0.00

0.00

Fayette

1

0

50

1

0

52

2,455

0.28

1.18

Fleming

0

1

1

0

0

2

3,155

0.22

0.92

Floyd

0

0

2

0

0

2

9,652

0.07

0.30

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Fulton

0

0

1

0

0

1

3,741

0.19

0.77

Gallatin

0

1

1

0

0

2

1,770

0.39

1.64

Garrard

0

0

0

0

0

0

n/a

0.00

0.00

Grant

0

0

1

0

0

1

10,226

0.07

0.28

Graves

0

0

1

0

0

1

16,756

0.04

0.17

Grayson

0

0

0

0

0

0

n/a

0.00

0.00

Green

0

0

0

0

0

0

n/a

0.00

0.00

Greenup

0

1

0

1

0

2

8,142

0.09

0.36

Hancock

0

0

0

0

0

0

n/a

0.00

0.00

Hardin

0

1

3

1

0

5

8,311

0.08

0.35

Henderson

0

0

0

0

0

0

n/a

0.00

0.00

Henry

0

0

1

0

0

1

6,863

0.10

0.42

Hopkins

0

0

1

0

0

1

21,364

0.03

0.14

Jackson

0

0

0

1

0

1

6,291

0.11

0.46

Jefferson

1

6

225

14

169

445

724

0.96

4.00

Jessamine

0

0

1

0

0

1

17,505

0.04

0.17

Johnson

0

0

0

1

0

1

10,410

0.07

0.28

Kenton

0

2

3

47

0

52

1,314

0.53

2.20

Knott

0

0

0

0

0

0

n/a

0.00

0.00

Knox

0

1

0

0

0

1

14,541

0.05

0.20

Laurel

0

0

2

0

0

2

11,615

0.06

0.25

Lewis

0

0

0

0

1

1

6,417

0.11

0.45

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Logan

0

0

0

1

0

1

12,087

0.06

0.24

Lyon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Marshall

0

0

1

0

0

1

15,340

0.05

0.19

Mason

0

0

0

0

0

0

n/a

0.00

0.00

McCracken

0

0

1

0

1

2

15,743

0.04

0.18

Meade

0

1

1

0

0

2

5,446

0.13

0.53

Mercer

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

0

0

0

0

0

n/a

0.00

0.00

Morgan

0

0

0

0

0

0

n/a

0.00

0.00

Muhlenberg

0

0

1

0

0

1

14,106

0.05

0.21

Nelson

0

0

0

0

0

0

n/a

0.00

0.00

Ohio

0

1

0

0

0

1

10,292

0.07

0.28

Oldham

0

0

0

0

1

1

19,299

0.04

0.15

Pendleton

0

0

0

0

0

0

n/a

0.00

0.00

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Pike

0

0

1

1

0

2

16,197

0.04

0.18

Powell

0

0

0

1

0

1

5,758

0.12

0.50

Pulaski

0

0

0

0

0

0

n/a

0.00

0.00

Rowan

0

1

0

0

0

1

9,349

0.07

0.31

Scott

1

0

0

0

0

1

15,248

0.05

0.19

Shelby

0

1

0

0

0

1

15,154

0.05

0.19

Spencer

0

0

0

1

0

1

5,844

0.12

0.50

Taylor

0

0

0

0

0

0

n/a

0.00

0.00

Trimble

0

0

1

0

0

1

3,573

0.19

0.81

Warren

0

0

0

1

0

1

42,940

0.05

0.07

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Whitley

0

0

2

0

0

2

7,942

0.09

0.36

Woodford

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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