LOS ANGELES FORECLOSURES INCREASE 5 PERCENT IN AUGUST

Area’s Foreclosure Rate Still Below National Average
Orange County Foreclosures Up 9 Percent

IRVINE, Calif. – Sept. 24, 2006 – New foreclosure filings in Los Angeles increased 5 percent in August, the third straight month of increasing foreclosure activity, but the city’s foreclosure rate of one new foreclosure filing for every 1,552 households stayed below the national average, according to the August 2006 RealtyTrac™ U.S. Foreclosure Market Report.

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

“Although foreclosure rates have risen above the national average in some of the outlying areas around Los Angeles, the city itself has so far weathered the storm of higher interest rates and cooling home price appreciation without a flood of foreclosures,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, the area’s unemployment rate jumped above the national average in July and home price appreciation continued to slow in the second quarter. Those two factors, combined with the wave of adjustable rate mortgages expected to reset in the next few months, could result in a more substantial uptick in the area’s foreclosure rate.”

The city’s foreclosure rate ranked third lowest among the nation’s 10 largest metro areas. Foreclosure rates in Dallas, Atlanta, Riverside, Calif., Houston, Chicago, Phoenix and Philadelphia were all higher than the foreclosure rate in Los Angeles. Foreclosure rates in New York and Washington were lower than the foreclosure rate in Los Angeles.

The metropolitan area, which comprises Los Angeles County, reported 2,107 properties entering some stage of foreclosure in August, up from 2,001 in the previous month. The area registered a foreclosure rate that was less than two-thirds of the national average.

Nearby Orange County reported 606 properties entering some stage of foreclosure, a 9 percent increase from the previous month and a foreclosure rate of one new foreclosure filing for every 1,600 households — still well below the national average.

California foreclosure activity increased 25 percent from the previous month, with 12,506 properties entering some stage of foreclosure — the third most of any state and more than twice the number reported in August 2005. The state’s foreclosure rate of one new foreclosure filing for every 977 households registered slightly above the national average.

U.S. foreclosure activity increased 24 percent in August, with 115,292 properties entering some stage of foreclosure during the month — the second highest number reported in any month year to date and one new foreclosure filing for every 1,003 households.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, statewide and by county in the Los Angeles Metropolitan Statistical Area Division* over the preceding month. 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 re-purchased by a bank).

Los Angeles Area Foreclosure Market Statistics by County – Aug 2006

Geography NOD NTS NFS LIS REO Total 1 in every # households /National Average

US

20,611

45,704

7,328

21,533

20,116

115,292

1,003

California

10,862

1,437

0

0

207

12,506

977

1.027

Los Angeles MSAD* (LA County)

1,731

340

0

0

36

2,107

1,552

0.646

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. (http://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 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 http://www.realtytrac.com/.

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Media Contacts:
Michelle Schneider
949.502.8300 Ext. 139
michelle.schneider@realtytrac.com

Christine Stricker
949.502.8300 Ext. 268
christine.stricker@realtytrac.com

Detailed & Historical Data:
Tyler White
949.502.8300 Ext. 158
tyler.white@realtytrac.com

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