LOS ANGELES FORECLOSURES UP 19 PERCENT

LOS ANGELES FORECLOSURES UP 19 PERCENT ACCORDING TO REALTYTRAC™ AUGUST U.S. FORECLOSURE MARKET REPORT
City’s Foreclosure Rate Still Lowest Among Nation’s Top-Five Metro Areas; California Foreclosures Increase 21 Percent

Irvine, Calif. – October 3, 2005 – Los Angeles foreclosures jumped 19 percent in August, with more than 1,200 properties entering foreclosure during the month, according to the RealtyTrac™ August Monthly U.S. Foreclosure Market Report.

RealtyTrac publishes the largest national database of pre-foreclosure and foreclosure properties, with more than 550,000 properties in nearly 2,000 counties across the country, and is the foreclosure data provider to MSN House & Home, Yahoo! Real Estate, AOL Real Estate and HomeGain.com.

Despite the increase in foreclosures, Los Angeles continued to boast the lowest foreclosure rate among the nation’s five largest metropolitan areas for the fifth month in a row. New York, Chicago, Philadelphia and Dallas all recorded higher foreclosure rates than Los Angeles. Foreclosures increased in all of the major metropolitan areas except for Dallas-Fort Worth.

“While the foreclosure rate in Los Angeles is still low compared to other major cities, the city’s foreclosure numbers have trended upward over the past three months,” said James J. Saccacio, RealtyTrac chief executive officer. “Since May, when there were only 771 foreclosures, the city has reported more than 1,000 foreclosures each month.”

Los Angeles reported 1,232 foreclosures in August, one foreclosure for every 2,655 households. The city’s foreclosure rate was close to half the national average and slightly lower than the state average.

Orange County foreclosures decreased 9 percent in August, with 213 properties entering some stage of foreclosure or foreclosed on. The county recorded one foreclosure for every 4,552 households.

With one foreclosure for every 1,198 households, the foreclosure rate in Riverside County rose to more than two times the state average. The county reported 488 foreclosure properties in August, a 41 percent increase.

San Bernardino County foreclosures increased for the second straight month, with 453 properties entering some stage of foreclosure or foreclosed on — a 3.2 percent increase. With one foreclosure for every 1,328 households, the county’s foreclosure rate was 1.9 times the state average.

Statewide, 4,810 properties entered some stage of foreclosure or were foreclosed on in August — a 21 percent increase from July. But with one foreclosure for every 2,539 households, California’s foreclosure rate was still well below the national average

Foreclosures nationwide dropped 4.3 percent in August after two consecutive months of increases. Still, August’s foreclosure numbers were higher than any other month except for July. A total of 75,599 properties entered some stage of foreclosure or were foreclosed on — one for every 1,530 households.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a graphical map that illustrates foreclosure percentiles by state (appended to this press release or available by request), as well as 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 repurchased by a bank).

Below are foreclosure market statistics nationwide and by state:

State Name NODs NTSs NFSs LISs REOs Total %tile
US 8/2005 18629 26107 1583 11339 17941 75599
Alabama 8/2005 2 55 0 0 16 73 13.73
Alaska 8/2005 0 133 0 0 7 140 72.55
Arizona 8/2005 520 2271 0 0 122 2913 94.12
Arkansas 8/2005 20 879 0 0 69 968 76.47
California 8/2005 4174 510 0 0 126 4810 56.86
Colorado 8/2005 1349 132 0 0 925 2406 92.16
Connecticut 8/2005 876 3 0 0 0 879 68.63
Delaware 8/2005 6 1 0 0 12 19 21.57
District of Columbia 8/2005 0 0 0 0 12 12 17.65
Florida 8/2005 0 0 977 8656 542 10175 96.08
Georgia 8/2005 9 2280 0 0 884 3173 84.31
Hawaii 8/2005 1743 26 0 0 4 1773 100.00
Idaho 8/2005 54 69 0 0 29 152 49.02
Illinois 8/2005 2724 39 0 0 1488 4251 78.43
Indiana 8/2005 910 829 0 0 1105 2844 86.27
Iowa 8/2005 14 2 0 0 0 95 27.45
Kansas 8/2005 9 5 0 0 23 37 11.76
Kentucky 8/2005 109 4 0 0 43 156 31.37
Louisiana 8/2005 48 69 0 0 57 174 33.33
Maine 8/2005 4 0 0 0 0 4 3.92
Maryland 8/2005 8 338 0 0 336 682 52.94
Massachusetts 8/2005 33 289 0 0 2 324 39.22
Michigan 8/2005 2314 167 0 0 1642 4123 82.35
Minnesota 8/2005 6 10 0 0 77 93 19.61
Mississippi 8/2005 1 19 0 0 21 41 9.80
Missouri 8/2005 36 5 0 0 630 671 47.06
Montana 8/2005 2 49 0 0 9 60 43.14
Nebraska 8/2005 56 7 0 0 18 81 37.25
Nevada 8/2005 92 420 0 0 56 568 70.59
New Hampshire 8/2005 1 0 0 0 22 23 15.69
New Jersey 8/2005 613 794 0 0 131 1538 60.78
New Mexico 8/2005 878 4 0 0 46 928 90.20
New York 8/2005 0 0 606 2683 135 3424 58.82
North Carolina 8/2005 130 81 0 0 898 1109 50.98
North Dakota 8/2005 0 1 0 0 4 5 7.84
Ohio 8/2005 143 1839 0 0 2588 4570 80.39
Oklahoma 8/2005 463 523 0 0 199 1185 74.51
Oregon 8/2005 164 226 0 0 80 470 54.90
Pennsylvania 8/2005 131 1541 0 0 867 2539 62.75
Rhode Island 8/2005 0 1 0 0 0 1 1.96
South Carolina 8/2005 41 12 0 0 305 358 45.10
South Dakota 8/2005 1 15 0 0 4 20 25.49
Tennessee 8/2005 10 422 0 0 1048 1480 66.67
Texas 8/2005 16 10676 0 0 2761 13453 98.04
Utah 8/2005 605 9 0 0 286 900 88.24
Vermont 8/2005 1 1 0 0 0 3 5.88
Virginia 8/2005 0 266 0 0 43 309 35.29
Washington 8/2005 32 1005 0 0 148 1185 64.71
West Virginia 8/2005 0 71 0 0 3 74 29.41
Wisconsin 8/2005 278 8 0 0 27 313 41.18
Wyoming 8/2005 1 1 0 0 11 13 23.53

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 550,000 properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts close to two million unique visitors monthly and is the exclusive foreclosure data supplier to MSN House & Home, Yahoo! Real Estate and HomeGain as well as the foreclosure data provider to AOL 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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