LOS ANGELES AREA FORECLOSURES END THREE-MONTH CLIMB

LOS ANGELES AREA FORECLOSURES DECREASE SIX PERCENT ACCORDING TO REALTYTRAC™ FEBRUARY U.S. FORECLOSURE MARKET REPORT

Decrease Ends Three Months of Rising Foreclosures. California Foreclosures Down Three Percent.

Irvine, Calif. – March 22, 2006 – Los Angeles area foreclosures decreased six percent in February, ending three straight months of rising foreclosures, according to the RealtyTrac™ February 2006 U.S. Foreclosure Market Report. The four-county metropolitan area reported 4,695 properties entering some stage of foreclosure and a foreclosure rate of one new foreclosure for every 1,156 households.

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

“While this monthly decrease in foreclosures is a positive sign for the Los Angeles area housing market, it doesn’t come close to offsetting the increases from the last three months,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even taking into account the decrease in February, monthly foreclosure filings have doubled since October of last year. But it’s important to keep in mind that the region continues to maintain a foreclosure rate that’s low compared with foreclosure rates in the nation’s top metros and is below the national average.”

The foreclosure rate in the Los Angeles area was lower than foreclosure rates in Chicago, Philadelphia and Dallas-Fort Worth, but higher than the foreclosure rate in New York City. Except for Chicago, all five metropolitan areas reported fewer new foreclosures in February.

New foreclosures inched up almost imperceptibly in Los Angeles County, which reported 2,673 properties entering some stage of foreclosure in February — an increase of just 25 properties from the previous month. The county’s foreclosure rate of one foreclosure for every 1,223 households was below the national average and slightly above the state average.

Orange County foreclosures dropped 29 percent in February, erasing most of the 30 percent increase reported in January. The county recorded 422 properties entering some stage of foreclosure, a foreclosure rate of one new foreclosure for every 2,297 households.

San Bernardino County’s foreclosure rate dropped below the national average thanks to a 33 percent decrease in new foreclosures in February. The county reported 577 properties entering some stage of foreclosure and a foreclosure rate of one new foreclosure for every 1,042 households.

Riverside County reported 1,023 properties entering some stage of foreclosure, an increase of 14 percent. With one new foreclosure for every 571 households, the county’s foreclosure rate was 1.8 times the national average and 2.4 times the state average.

California reported a total of 9,110 properties entering some stage of foreclosure in February, a 3 percent decrease from the previous month but an 80 percent increase from February 2005. The state documented a foreclosure rate of one new foreclosure for every 1,341 households.

A total of 117,259 U.S. properties entered some stage of foreclosure in February, a 13 percent increase from the previous month and a 68 percent increase from February 2005. The nation registered a foreclosure rate of one new foreclosure for every 986 households.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide and by state over the preceding month. Data is also available at the individual county level. 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 repurchased by a bank).

Below are foreclosure market statistics nationwide and by state:

State Name NODs NTSs NFSs LISs REOs Total

1 in every #households

%Change prev. month
US 2/2006 20,759 38,839 2,423 10,554 44,684 117,259 986 13
Alabama 1 58 0 0 21 80 24,543 -22
Alaska 4 56 0 0 14 74 2,773 -24
Arizona 107 1,973 0 0 83 2,163 1,012 7
Arkansas 16 589 0 0 501 1,106 1,061 -17
California 6,869 2,079 0 0 162 9,110 1,341 -3
Colorado 1,967 463 0 0 1,698 4,128 443 10
Connecticut 897 21 0 0 31 949 1,460 899
Delaware 1 7 0 0 11 19 18,056 -47
District of Columbia 0 2 0 0 5 7 39,264 0
Florida 0 0 1,421 7,850 748 10,019 729 -3
Georgia 1 5,997 0 0 3,423 9,421 329 28
Hawaii 19 36 0 0 0 55 8,373 62
Idaho 48 119 0 0 113 280 1,878 5
Illinois 1,735 108 0 0 2,726 4,569 1,070 1
Indiana 1,362 1,240 0 0 3,307 5,909 427 34
Iowa 0 12 0 0 347 359 3,433 -6
Kansas 0 24 0 0 137 161 7,006 -33
Kentucky 260 49 0 0 157 466 3,757 -24
Louisiana 1 45 0 0 52 98 19,216 -20
Maine 0 3 0 0 6 9 72,432 -59
Maryland 0 247 0 0 25 272 7,877 -53
Massachusetts 10 342 0 0 18 370 7,086 538
Michigan 27 3,219 0 0 7,097 10,343 408 121
Minnesota 8 244 0 0 121 373 5,544 87
Mississippi 0 38 0 0 58 96 13,217 41
Missouri 18 389 0 0 1,802 2,209 1,103 76
Montana 2 84 0 0 6 92 4,479 8
Nebraska 79 11 0 0 139 229 3,138 -37
Nevada 677 1,047 0 0 37 1,761 493 -2
New Hampshire 0 6 0 0 2 8 68,378 -38
New Jersey 2,456 384 0 0 438 3,278 1,010 -6
New Mexico 604 247 0 0 60 911 857 36
New York 0 0 896 2,704 995 4,595 1,671 -12
North Carolina 497 153 0 0 2,545 3,195 1,102 33
North Dakota 0 0 0 0 10 10 28,967 -71
Ohio 0 2,841 0 0 7,032 9,873 484 19
Oklahoma 356 297 0 0 993 1,646 908 -4
Oregon 158 273 0 0 306 737 1,975 5
Pennsylvania 876 1,393 0 0 2,113 4,382 1,198 5
Rhode Island 1 3 0 0 0 4 109,959 33
South Carolina 103 211 106 0 548 968 1,811 18
South Dakota 0 12 0 0 9 21 15,391 -32
Tennessee 9 1,514 0 0 3,126 4,649 527 27
Texas 109 11,023 0 0 2,484 13,616 591 -7
Utah 858 113 0 0 215 1,186 648 27
Vermont 0 1 0 0 1 2 147,191 -86
Virginia 0 226 0 0 59 285 10,127 -41
Washington 10 1,493 0 0 505 2,008 1,191 30
West Virginia 0 43 0 0 17 60 14,077 -36
Wisconsin 613 103 0 0 344 1,060 2,172 166
Wyoming 0 1 0 0 16 17 13,168 31

About RealtyTrac Inc.
Ranked as the fourth-largest real estate site by Nielsen Net Ratings, 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 and For Sale By Owner properties, with more than 600,000 properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts more than 2 million unique visitors monthly and has been chosen to supply foreclosure data to AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

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Media Contact:
Michelle Sabolich
Atomic Public Relations
415-402-0230
michelle.sabolich@atomicpr.com

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