LOUISIANA FORECLOSURE ACTIVITY DOWN 4 PERCENT IN MARCH

Statewide Filings Up 8 Percent From March 2007

 

IRVINE, Calif. – April 30, 2008 – Louisiana reported 626 properties with foreclosure filings in March. After a 10 percent decrease in February, statewide activity decreased 4 percent for the month but increased 8 percent from March 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.

 

“Although Louisiana foreclosures have gone up since this time last year, the numbers appear to be headed downward on a monthly basis,” said James J. Saccacio, chief executive officer of ReatlyTrac. “The combination of a low unemployment rate and a relatively steady home price appreciation rate last year are contributing this recent decrease in foreclosure activity.”

 

Louisiana ranked 34th in the country in total foreclosure filings for the month. With one in every 2,923 households receiving a foreclosure filing, the state foreclosure rate ranked 42nd among the 50 states.

 

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

Five Louisiana counties accounted for 84 percent of all foreclosure activity in the state for March. Orleans County led the state with the highest total for the month, reporting 190 properties with foreclosure filings. Jefferson County, which documented 133 properties with foreclosure filings, came in second. East Baton Rouge County documented the third highest total, reporting 125 properties with foreclosure filings. Fourth highest total was reported by Lafayette County where 42 properties with foreclosure filings were reported. Saint Tammany County came in fifth, reporting 38 properties with foreclosure filings.

 

Orleans County posts state’s top foreclosure rate for March

Orleans County tallied the highest county foreclosure rate in the state in March, with one in every 556 households receiving a foreclosure filing for the month — 5.3 times the state average. Jefferson County posted the state’s second highest rate, with one in every 1,385 households receiving a foreclosure filing during the month — 2.1 times the state average. The third highest rate in the state was reported in East Baton Rouge County, where one in every 1,449 households received a foreclosure filing in March — twice the state average.

 

State a minor contributor to nation’s total in March

Total filings in Louisiana accounted for less than 1 percent of the 234,685 properties with foreclosure filings reported nationwide in March. The national total represents a 5 percent increase from the previous month and is 57 percent ahead of the total reported for March 2007. One in every 538 U.S. households 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 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 by County – March 2008

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,493

47,677

55,398

23,724

51,393

234,685

538

n/a

n/a

Louisiana

0

8

0

502

116

626

2,923

0.18

n/a

 

 

 

 

 

 

 

 

 

 

Acadia

0

0

0

0

0

0

 n/a

0.00

0.00

Allen

0

0

0

1

0

1

9,490

0.06

0.31

Ascension

0

0

0

0

0

0

 n/a

0.00

0.00

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

19

9

28

1,647

0.33

1.77

Caddo

0

0

0

24

1

25

4,510

0.12

0.65

Calcasieu

0

1

0

0

0

1

81,773

0.01

0.04

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

1

0

1

8,097

0.07

0.36

Concordia

0

0

0

0

0

0

 n/a

0.00

0.00

De Soto

0

0

0

1

1

2

5,853

0.09

0.50

East Baton Rouge

0

2

0

86

37

125

1,449

0.37

2.02

East Carroll

0

0

0

0

0

0

 n/a

0.00

0.00

East Feliciana

0

0

0

1

0

1

8,262

0.07

0.35

Evangeline

0

0

0

1

0

1

14,976

0.04

0.20

Franklin

0

0

0

0

0

0

 n/a

0.00

0.00

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

1

0

1

12,543

0.04

0.23

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

0

2

0

88

43

133

1,385

0.39

2.11

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

42

0

42

2,058

0.26

1.42

Lafourche

0

0

0

1

1

2

18,600

0.03

0.16

Lincoln

0

0

0

2

0

2

9,155

0.06

0.32

Livingston

0

0

0

2

0

2

21,453

0.03

0.14

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

0

0

0

0

 n/a

0.00

0.00

Orleans

0

2

0

182

6

190

556

0.97

5.26

Ouachita

0

0

0

7

0

7

9,035

0.06

0.32

Plaquemines

0

0

0

1

0

1

8,813

0.06

0.33

Pointe Coupee

0

0

0

0

0

0

 n/a

0.00

0.00

Rapides

0

0

0

10

1

11

5,025

0.11

0.58

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

0

2

0

2

9,748

0.06

0.30

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

1

0

1

38,163

0.01

0.08

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

27

11

38

2,455

0.22

1.19

St John The Baptist

0

0

0

0

0

0

 n/a

0.00

0.00

Tangipahoa

0

0

0

0

5

5

9,502

0.06

0.31

Tensas

0

0

0

0

0

0

 n/a

0.00

0.00

Terrebonne

0

0

0

1

0

1

43,490

0.01

0.07

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

1

0

1

21,911

0.02

0.13

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

1

0

0

0

1

9,120

0.06

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

1

1

7,763

0.07

0.38

           

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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