LOUISIANA FORECLOSURE ACTIVITY DOWN 26 PERCENT IN JANUARY

 

Filings Statewide Decrease 33 Percent From January 2008

 

IRVINE, Calif. – Feb. 27, 2009 – Foreclosure filings were reported on 485 Louisiana properties in January, down 26 percent from the previous month and 33 percent below the level reported for January 2008, 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 1.5 million properties from over 2,200 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.

 

“Foreclosure activity within Louisiana decreased on both a monthly and yearly basis,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, with statewide unemployment continuing to rise, foreclosure filings in the coming months will certainly be impacted.”

 

Louisiana ranked 37th in the country in total properties with foreclosure filings for January. One in every 3,833 Louisiana housing units received a foreclosure filing during the month, ranking its foreclosure rate 42nd among the 50 states.

 

Top three parishes account for bulk of state foreclosure activity for January

Three Louisiana Orleans parishes accounted for 59 percent of all foreclosure activity within the state for January. Orleans Parish led the state, reporting 117 properties with foreclosure filings for the month. East Baton Rouge Parish was second highest, reporting 90 properties with foreclosure filings. Saint Tammany Parish came in third, reporting 80 properties with foreclosure filings. Jefferson Parish was fourth highest, documenting 68 properties with foreclosure filings. Bossier Parish was fifth, reporting 43 properties with foreclosure filings for the month.

 

Orleans Parish posts state’s highest foreclosure rate for January

With one in every 955 housing units receiving a foreclosure filing — four times the state average — Orleans Parish reported the highest foreclosure rate in the state for January. Bossier Parish posted the state’s second highest rate, with one in every 1,102 housing units receiving a foreclosure filing — 3.5 times the state average. Third highest rate was documented in Saint Tammany Parish, where one in every 1,180 housing units received a foreclosure filing during the month — 3.3 times the state average.

 

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

Louisiana accounted for less than 1 percent of the 274,399 properties with foreclosure filings reported nationwide in January. The national total represented a decrease of more than 9 percent from the previous month but was still nearly 18 percent ahead of the total reported for January 2008. One in every 466 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the Parish, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

          Louisiana Foreclosure Market Data by Parish – January 2009

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,681

52,435

80,986

27,520

66,777

274,399

466

n/a

n/a

Louisiana

0

0

0

386

99

485

3,833

0.12

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

0

5

0

5

7,704

0.06

0.50

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

0

33

10

43

1,102

0.42

3.48

Caddo

0

0

0

16

19

35

3,232

0.14

1.19

Calcasieu

0

0

0

3

1

4

20,458

0.02

0.19

Caldwell

0

0

0

1

0

1

5,222

0.09

0.73

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

2

1

3

3,929

0.12

0.98

East Baton Rouge

0

0

0

72

18

90

2,058

0.23

1.86

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

0

1

0

1

9,024

0.05

0.42

Grant

0

0

0

0

0

0

 n/a

0.00

0.00

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

0

60

8

68

2,657

0.18

1.44

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

0

2

3

5

17,738

0.03

0.22

Lafourche

0

0

0

1

0

1

37,722

0.01

0.10

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Livingston

0

0

0

2

0

2

22,454

0.02

0.17

Madison

0

0

0

0

0

0

 n/a

0.00

0.00

Morehouse

0

0

0

0

1

1

13,221

0.04

0.29

Natchitoches

0

0

0

2

1

3

6,058

0.08

0.63

Orleans

0

0

0

113

4

117

955

0.49

4.01

Ouachita

0

0

0

4

1

5

12,780

0.04

0.30

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

0

10

1

11

5,102

0.09

0.75

Red River

0

0

0

0

0

0

 n/a

0.00

0.00

Richland

0

0

0

2

0

2

4,445

0.10

0.86

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

0

2

0

2

9,964

0.05

0.38

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

0

0

0

 n/a

0.00

0.00

Saint Mary

0

0

0

0

0

0

 n/a

0.00

0.00

Saint Tammany

0

0

0

54

26

80

1,180

0.39

3.25

St John The Baptist

0

0

0

0

0

0

 n/a

0.00

0.00

Tangipahoa

0

0

0

0

4

4

12,387

0.04

0.31

Tensas

0

0

0

0

0

0

 n/a

0.00

0.00

Terrebonne

0

0

0

0

0

0

 n/a

0.00

0.00

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

1

1

22,089

0.02

0.17

Washington

0

0

0

0

0

0

 n/a

0.00

0.00

Webster

0

0

0

1

0

1

19,982

0.02

0.19

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

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved