LOUISIANA FORECLOSURE ACTIVITY DOWN 38 PERCENT IN AUGUST

Statewide Foreclosure Activity Down 8 Percent From a Year Ago

 

IRVINE, Calif. – Sept. 26, 2008 – Foreclosure filings were reported on 632 Louisiana properties in August, a 38 percent decrease from the previous month, and 8 percent below the level reported for August 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 1.5 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.

 

Louisiana foreclosures are down both in August and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate is nearly 2 percent below the national average. This is undoubtedly contributing to the overall decrease.”

 

Louisiana ranked 36th in the country in total foreclosures reported for the month. With one in every 2,896 households receiving a foreclosure filing, its foreclosure rate ranked 42nd among the 50 states.

 

Top five parishes responsible for bulk of state’s foreclosure activity

Five Louisiana parishes accounted for 79 percent of all foreclosure activity in the state for August. Jefferson Parish led the way, reporting 180 properties with foreclosure filings. Orleans Parish came in second, documenting 165 properties with foreclosure filings. Saint Tammany Parish was third, reporting 87 properties with foreclosure filings. Rapides Parish came in fourth, reporting 36 properties with foreclosure filings. Bossier Parish came in fifth, reporting 33 properties with foreclosure filings.

 

Orleans Parish posts top foreclosure rate for August

Orleans Parish tallied the highest parish foreclosure rate in the state in August, with one in every 640 households receiving a foreclosure filing for the month — 4.5 times the state average. Jefferson Parish posted the state’s second highest foreclosure rate, with one in every 1,023 households receiving a foreclosure filing during the month — 2.8 times the state average. Saint Tammany Parish posted the third highest foreclosure rate, where one in every 1,072 households received a foreclosure filing in August — 2.7 times the state average.

 

State contributes less than one percent to nation’s foreclosure total in August

Louisiana accounted for less than one percent of the 303,879 properties with foreclosure filings reported nationwide in August. The national total represents more than a 12 percent increase from the previous month and is 27 percent ahead of the total reported for August 2007. The nation’s foreclosure rate increased to one in every 416 U.S. households receiving 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 county, 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 – August 2008

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

61,903

57,156

69,693

24,234

90,893

303,879

416

n/a

n/a

Louisiana

0

70

11

450

101

632

2,896

0.14

n/a

 

 

 

 

 

 

 

 

 

Acadia

0

1

0

0

0

1

24,482

0.02

0.12

Allen

0

0

0

0

1

1

9,490

0.04

0.31

Ascension

0

0

0

1

1

2

18,331

0.02

0.16

Assumption

0

0

0

0

0

0

 n/a

0.00

0.00

Avoyelles

0

2

0

1

0

3

5,871

0.07

0.49

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

1

0

26

6

33

1,398

0.30

2.07

Caddo

0

3

1

18

3

25

4,510

0.09

0.64

Calcasieu

0

2

1

1

2

6

13,629

0.03

0.21

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

1

0

0

0

1

11,705

0.04

0.25

East Baton Rouge

0

10

0

6

3

19

9,531

0.04

0.30

East Carroll

0

0

0

1

0

1

3,284

0.13

0.88

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

4

0

4

2,236

0.19

1.29

Grant

0

1

0

0

0

1

8,982

0.05

0.32

Iberia

0

1

0

0

0

1

29,357

0.01

0.10

Iberville

0

0

0

0

1

1

12,543

0.03

0.23

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

0

12

3

107

58

180

1,023

0.41

2.83

Jefferson Davis

0

1

0

0

0

1

13,338

0.03

0.22

La Salle

0

0

0

0

0

0

 n/a

0.00

0.00

Lafayette

0

0

0

14

0

14

6,173

0.07

0.47

Lafourche

0

1

0

0

0

1

37,200

0.01

0.08

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Livingston

0

2

0

0

0

2

21,453

0.02

0.13

Madison

0

0

0

0

0

0

 n/a

0.00

0.00

Morehouse

0

1

0

2

0

3

4,392

0.09

0.66

Natchitoches

0

1

0

0

0

1

17,881

0.02

0.16

Orleans

0

4

1

150

10

165

640

0.65

4.52

Ouachita

0

5

1

8

0

14

4,517

0.09

0.64

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

3

0

33

0

36

1,536

0.27

1.89

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

1

0

0

1

14,405

0.03

0.20

Saint Bernard

0

0

0

1

0

1

6,507

0.06

0.45

Saint Charles

0

0

0

0

0

0

 n/a

0.00

0.00

Saint Helena

0

0

0

0

0

0

 n/a

0.00

0.00

Saint James

0

1

0

0

0

1

8,138

0.05

0.36

Saint Landry

0

2

0

0

1

3

12,721

0.03

0.23

Saint Martin

0

1

0

1

0

2

10,823

0.04

0.27

Saint Mary

0

1

0

0

0

1

22,459

0.02

0.13

Saint Tammany

0

5

0

72

10

87

1,072

0.39

2.70

St John the Baptist

0

2

0

0

0

2

8,589

0.05

0.34

Tangipahoa

0

3

0

1

5

9

5,279

0.08

0.55

Tensas

0

0

0

0

0

0

 n/a

0.00

0.00

Terrebonne

0

0

0

3

0

3

14,497

0.03

0.20

Union

0

1

0

0

0

1

11,967

0.03

0.24

Vermilion

0

0

0

0

0

0

 n/a

0.00

0.00

Vernon

0

0

1

0

0

1

21,911

0.02

0.13

Washington

0

1

0

0

0

1

19,970

0.02

0.15

Webster

0

0

2

0

0

2

9,897

0.04

0.29

West Baton Rouge

0

1

0

0

0

1

9,120

0.05

0.32

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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