LOUISIANA FORECLOSURE ACTIVITY DOWN 10 PERCENT IN FEBRUARY

State Filings Down 15 Percent From February 2007

 

IRVINE, Calif. – March 26, 2008 – Louisiana reported 650 properties with foreclosure filings for February 2008. The total represents a 10 percent decrease in activity from the previous month and is 15 percent below the level reported for February 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million 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.

 

“Though economic recovery remains slow in New Orleans and personal bankruptcies are high statewide, some metropolitan areas within Louisiana appear to be thriving,” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosure activity within the Pelican State now appears to be on the decline.”

 

Louisiana ranked 32nd in the country in total properties with foreclosure filings for February. One in every 2,985 Louisiana households received a foreclosure filing during the month, ranking the state’s foreclosure rate at 40th among the 50 states.

 

Jefferson Parish leads state in foreclosure activity

Jefferson Parish led the state in foreclosure activity for February, reporting 164 properties with foreclosure filings. Second place Orleans Parish documented 155 properties with foreclosure filings, while third place Saint Tammany Parish reported 98 properties with foreclosure filings.

 

Saint Tammany Parish posts highest foreclosure rate

Saint Tammany Parish led the way with a rate of one in every 906 households receiving a foreclosure filing for the month — 3.3 times the state average. Bossier Parish posted the state’s second highest rate, with one in every 934 households receiving a foreclosure filing — 3.2 times the state average. The third highest rate was documented in Rapides Parish, where one in every 1,113 households received a foreclosure filing in February — 2.7 times the state average.

 

State a minor contributor to nation’s foreclosure total in February

Total filings in Louisiana accounted for less than 1 percent of the 223,651 properties with foreclosure filings reported nationwide in January. The national total represents a 4 percent decrease from the previous month, but is still 60 percent ahead of the total reported for February 2007. One in every 557 U.S. households received a foreclosure filing 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.

 

 

                   Louisiana Foreclosure Market by Parish – February 2008

 

Parish

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

Louisiana

0

0

569

21

60

650

2,985

0.19

n/a

 

 

 

 

 

 

 

 

 

 

Acadia

0

0

0

0

0

0

n/a

0.00

0.00

Allen

0

0

0

0

0

0

n/a

0.00

0.00

Ascension

0

0

3

0

0

3

11,622

0.05

0.26

Assumption

0

0

0

0

0

0

n/a

0.00

0.00

Avoyelles

0

0

0

0

0

0

n/a

0.00

0.00

Beauregard

0

0

0

0

0

0

n/a

0.00

0.00

Bienville

0

0

0

0

0

0

n/a

0.00

0.00

Bossier

0

0

34

1

13

48

934

0.60

3.20

Caddo

0

0

17

3

0

20

5,567

0.10

0.54

Calcasieu

0

0

0

0

0

0

n/a

0.00

0.00

Caldwell

0

0

0

0

0

0

n/a

0.00

0.00

Cameron

0

0

0

0

0

0

n/a

0.00

0.00

Catahoula

0

0

0

0

0

0

n/a

0.00

0.00

Claiborne

0

0

0

0

0

0

n/a

0.00

0.00

Concordia

0

0

0

0

0

0

n/a

0.00

0.00

De Soto

0

0

0

0

0

0

n/a

0.00

0.00

East Baton Rouge

0

0

42

2

11

55

3,243

0.17

0.92

East Carroll

0

0

0

0

0

0

n/a

0.00

0.00

East Feliciana

0

0

0

0

0

0

n/a

0.00

0.00

Evangeline

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

0

2

0

0

2

4,423

0.13

0.68

Grant

0

0

1

0

0

1

8,831

0.06

0.34

Iberia

0

0

0

0

0

0

n/a

0.00

0.00

Iberville

0

0

0

0

0

0

n/a

0.00

0.00

Jackson

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

0

0

139

3

22

164

1,173

0.47

2.54

Jefferson Davis

0

0

0

0

0

0

n/a

0.00

0.00

La Salle

0

0

0

0

0

0

n/a

0.00

0.00

Lafayette

0

0

31

1

0

32

2,653

0.21

1.13

Lafourche

0

0

0

0

0

0

n/a

0.00

0.00

Lincoln

0

0

3

0

0

3

6,011

0.09

0.50

Livingston

0

0

1

0

0

1

41,392

0.01

0.07

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Morehouse

0

0

0

0

0

0

n/a

0.00

0.00

Natchitoches

0

0

1

0

0

1

17,701

0.03

0.17

Orleans

0

0

148

6

1

155

1,375

0.40

2.17

Ouachita

0

0

4

0

0

4

15,579

0.04

0.19

Plaquemines

0

0

0

0

0

0

n/a

0.00

0.00

Pointe Coupee

0

0

0

0

0

0

n/a

0.00

0.00

Rapides

0

0

47

2

0

49

1,113

0.50

2.68

Red River

0

0

0

0

0

0

n/a

0.00

0.00

Richland

0

0

0

0

0

0

n/a

0.00

0.00

Sabine

0

0

0

0

0

0

n/a

0.00

0.00

Saint Bernard

0

0

0

0

0

0

n/a

0.00

0.00

Saint Charles

0

0

1

0

0

1

18,673

0.03

0.16

Saint Helena

0

0

0

0

0

0

n/a

0.00

0.00

Saint James

0

0

0

0

0

0

n/a

0.00

0.00

Saint Landry

0

0

0

0

0

0

n/a

0.00

0.00

Saint Martin

0

0

0

1

0

1

21,308

0.03

0.14

Saint Mary

0

0

0

0

0

0

n/a

0.00

0.00

Saint Tammany

0

0

86

1

11

98

906

0.61

3.29

St John the Baptist

0

0

1

0

0

1

16,879

0.03

0.18

Tangipahoa

0

0

3

1

2

6

7,415

0.08

0.40

Tensas

0

0

0

0

0

0

n/a

0.00

0.00

Terrebonne

0

0

5

0

0

5

8,516

0.07

0.35

Union

0

0

0

0

0

0

n/a

0.00

0.00

Vermilion

0

0

0

0

0

0

n/a

0.00

0.00

Vernon

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Webster

0

0

0

0

0

0

n/a

0.00

0.00

West Baton Rouge

0

0

0

0

0

0

n/a

0.00

0.00

West Carroll

0

0

0

0

0

0

n/a

0.00

0.00

West Feliciana

0

0

0

0

0

0

n/a

0.00

0.00

Winn

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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