KENTUCKY FORECLOSURES DECREASE 34 PERCENT IN FEBRUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Up 35 Percent From a Year Ago

 

IRVINE, Calif. – March 26, 2007 – Kentucky reported 628 foreclosure filings in February, a 34 percent decrease from the previous month, but a 35 percent increase from the same month last year, 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 850,000 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.

 

“Job growth is solid across Kentucky’s service sectors, which is helping to reduce the state’s high unemployment rate,” said James J. Saccacio, chief executive officer of RealtyTrac. “Evidence of this improvement can be seen in Kentucky’s reduction in foreclosure activity compared to last month.”

 

Kentucky ranked 29th in the country in total foreclosures reported for February. The state’s foreclosure rate of one foreclosure filing for every 2,788 households ranked 34th among the 50 states.

 

Jefferson County accounts for more than half of foreclosure activity

Jefferson County reported the highest county total in the state with 339 foreclosure filings for the month. Kenton County came in second, reporting 133 foreclosure filings. The third highest total was in Campbell County, reporting 58 filings in the foreclosure pipeline.

 

Kenton County reports highest foreclosure rate in state

Kenton County tallied the highest foreclosure rate in Kentucky for February, with one foreclosure filing for every 478 households — 5.8 times the state average and 1.9 times the national average. Campbell County had the second highest foreclosure rate for February, with one foreclosure filing for every 636 households — 4.4 times the state average and 1.4 times the national average. Jefferson County reported the third highest rate in the state, one foreclosure filing for every 902 households — 3.1 times the state average and slightly below the national average.

 

State makes minimal contribution to national total

The total number of foreclosure filings in Kentucky accounted for less than 1 percent of the 130,786 new filings nationwide in February. The national total was down 4 percent from the previous month, but still up 12 percent from February 2006. The nation’s foreclosure rate increased slightly to one foreclosure filing for every 884 households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – February 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

29,662

47,127

9,404

22,479

22,114

130,786

884

n/a

n/a

Kentucky

227

193

0

0

208

628

2,788

0.32

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

0

1

0

0

0

1

7,752

0.11

0.36

Barren

0

1

0

0

0

1

17,095

0.05

0.16

Boone

2

1

0

0

0

3

11,117

0.08

0.25

Bullitt

1

1

0

0

0

2

11,580

0.08

0.24

Calloway

8

0

0

0

0

8

2,009

0.44

1.39

Campbell

42

2

0

0

14

58

636

1.39

4.38

Carroll

0

0

0

0

0

0

n/a

0.00

0.00

Carter

0

1

0

0

0

1

11,534

0.08

0.24

Christian

14

1

0

0

0

15

1,812

0.49

1.54

Clark

1

0

0

0

0

1

13,749

0.06

0.20

Clinton

0

1

0

0

0

1

4,888

0.18

0.57

Daviess

0

1

0

0

0

1

38,432

0.02

0.07

Fayette

1

29

0

0

0

30

3,872

0.23

0.72

Gallatin

0

0

0

0

0

0

 n/a

0.00

0.00

Garrard

0

1

0

0

0

1

6,414

0.14

0.43

Grant

0

1

0

0

0

1

9,306

0.10

0.30

Graves

1

0

0

0

0

1

16,340

0.05

0.17

Greenup

1

1

0

0

0

2

7,989

0.11

0.35

Hardin

1

2

0

0

1

4

9,418

0.09

0.30

Harlan

0

1

0

0

0

1

15,017

0.06

0.19

Henry

0

1

0

0

0

1

6,381

0.14

0.44

Hopkins

0

2

0

0

0

2

10,334

0.09

0.27

Jefferson

21

125

0

0

193

339

902

0.98

3.09

Jessamine

0

0

0

0

0

0

n/a

0.00

0.00

Kenton

125

8

0

0

0

133

478

1.85

5.83

Knox

0

1

0

0

0

1

13,999

0.06

0.20

Laurel

1

2

0

0

0

3

7,439

0.12

0.37

Logan

0

1

0

0

0

1

11,875

0.07

0.23

Madison

1

0

0

0

0

1

29,595

0.03

0.09

Mason

0

0

0

0

0

0

n/a

0.00

0.00

Mccracken

1

0

0

0

0

1

30,361

0.03

0.09

Meade

1

1

0

0

0

2

5,147

0.17

0.54

Montgomery

1

0

0

0

0

1

9,682

0.09

0.29

Nelson

0

1

0

0

0

1

14,934

0.06

0.19

Oldham

1

0

0

0

0

1

15,541

0.06

0.18

Owen

0

0

0

0

0

0

n/a

0.00

0.00

Pendleton

0

0

0

0

0

0

n/a

0.00

0.00

Pike

1

1

0

0

0

2

15,462

0.06

0.18

Pulaski

1

1

0

0

0

2

13,591

0.07

0.21

Russell

0

1

0

0

0

1

9,064

0.10

0.31

Scott

0

1

0

0

0

1

12,997

0.07

0.21

Shelby

0

1

0

0

0

1

12,857

0.07

0.22

Trimble

1

0

0

0

0

1

3,437

0.26

0.81

Warren

0

1

0

0

0

1

38,350

0.02

0.07

 

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 1.3 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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