KENTUCKY FORECLOSURES INCREASE 11 PERCENT IN MARCH

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 102 Percent From a Year Ago

 

IRVINE, Calif. – April 23, 2007 – Kentucky reported 700 foreclosure filings in March, an 11 percent increase from the previous month, and a 102 percent increase from March 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.

 

Kentucky foreclosures have 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 is below that of the national average, and that its unemployment rate is significantly above the national average. These factors are likely contributing to the overall increase.”

 

Kentucky ranked 28th in the country in total foreclosures for March. The state’s foreclosure rate of one foreclosure filing for every 2,501 households ranks it 34th among the 50 states.

 

Top three counties account for largest share of state total

Three counties accounted for 89 percent of all foreclosure activity in Kentucky for the month. Jefferson County reported the highest total, with 473 foreclosure filings. Fayette County came in second, with 95 foreclosure filings, followed by Kenton County with 58 foreclosure filings.

 

Jefferson County posts highest foreclosure rate

Jefferson County posted the highest foreclosure rate in Kentucky for March, reporting one foreclosure filing for every 647 households — 3.9 times the state average and 1.2 times the national average. Kenton County reported the second highest rate with one foreclosure filing for every 1,096 households — 2.3 times the state average. Fayette County posted the third highest foreclosure rate, with one filing for every 1,223 households — 2.1 times the state average. 

 

State contributes less than 1 percent to national total

Total foreclosure filings in Kentucky accounted for less than 1 percent of the 149,150 foreclosure filings nationwide. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 775 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.

 

 

Kentucky Foreclosure Market by County – March 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,135

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

Kentucky

96

398

0

0

206

700

2,501

0.31

n/a

 

 

 

 

 

 

 

 

 

 

Allen

0

0

0

0

0

0

n/a

0.00

0.00

Anderson

0

1

0

0

0

1

7,752

0.10

0.32

Ballard

2

0

0

0

0

2

1,919

0.40

1.30

Barren

0

1

0

0

0

1

17,095

0.05

0.15

Boone

0

1

0

0

0

1

33,351

0.02

0.07

Boyle

0

0

0

0

0

0

n/a

0.00

0.00

Bracken

0

0

0

0

0

0

n/a

0.00

0.00

Bullitt

1

1

0

0

0

2

11,580

0.07

0.22

Calloway

3

0

0

0

0

3

5,356

0.14

0.47

Campbell

7

4

0

0

5

16

2,306

0.34

1.08

Carroll

1

0

0

0

0

1

4,439

0.17

0.56

Christian

15

3

0

0

3

21

1,294

0.60

1.93

Clark

0

0

0

0

0

0

n/a

0.00

0.00

Daviess

0

1

0

0

0

1

38,432

0.02

0.07

Fayette

0

95

0

0

0

95

1,223

0.63

2.05

Gallatin

1

1

0

0

0

2

1,681

0.46

1.49

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Hardin

0

2

0

0

2

4

9,418

0.08

0.27

Harrison

0

0

0

0

0

0

n/a

0.00

0.00

Henry

0

1

0

0

0

1

6,381

0.12

0.39

Hopkins

0

1

0

0

0

1

20,668

0.04

0.12

Jefferson

12

266

0

0

195

473

647

1.20

3.87

Jessamine

0

1

0

0

0

1

14,646

0.05

0.17

Kenton

52

6

0

0

0

58

1,096

0.71

2.28

Laurel

0

1

0

0

0

1

22,317

0.03

0.11

Logan

0

2

0

0

0

2

5,938

0.13

0.42

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Marshall

0

1

0

0

0

1

14,370

0.05

0.17

McCracken

1

1

0

0

0

2

15,181

0.05

0.16

Mercer

0

1

0

0

0

1

9,289

0.08

0.27

Oldham

0

0

0

0

0

0

n/a

0.00

0.00

Owen

0

0

0

0

0

0

n/a

0.00

0.00

Pendleton

1

0

0

0

0

1

5,756

0.13

0.43

Perry

0

1

0

0

0

1

12,741

0.06

0.20

Pike

0

1

0

0

0

1

30,923

0.03

0.08

Powell

0

0

0

0

0

0

n/a

0.00

0.00

Pulaski

0

1

0

0

1

2

13,591

0.06

0.18

Russell

0

1

0

0

0

1

9,064

0.09

0.28

Scott

0

1

0

0

0

1

12,997

0.06

0.19

Shelby

0

0

0

0

0

0

n/a

0.00

0.00

Spencer

0

0

0

0

0

0

n/a

0.00

0.00

Taylor

0

0

0

0

0

0

n/a

0.00

0.00

Todd

0

1

0

0

0

1

5,121

0.15

0.49

Trimble

0

1

0

0

0

1

3,437

0.23

0.73

Warren

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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