LOUISIANA FORECLOSURE ACTIVITY INCREASES 16 PERCENT IN FIRST QUARTER

State Foreclosure Activity Up 2 Percent From Q1 2008

Monthly Activity Up 40 percent in March, Up 51 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 1,971 Louisiana properties in the first quarter of 2009, a 16 percent increase from the previous quarter, and 2 percent above the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

Louisiana reported 947 properties with foreclosure filings in March, a 40 percent increase from the previous month and 51 percent above its March 2008 total.

 

“Foreclosure activity within Louisiana rose in the first quarter of 2009 and remained slightly above the level reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Though lower than in many other parts of the nation, unemployment in Louisiana continues to rise and is now at 5.8 percent, causing additional financial distress among homeowners.”

 

Louisiana ranked 34th in the country in total properties with foreclosure filings for the quarter. One in every 943 Louisiana housing units received a foreclosure filing during the month, the 40th highest state foreclosure rate in the nation.

 

Orleans Parish the single largest contributor to state total for the quarter

Orleans Parish led the state reporting 512 properties with foreclosure filings. East Baton Rouge Parish was second, reporting 434 properties with foreclosure filings for the quarter. Jefferson Parish was in third, reporting 338 properties with foreclosure filings. Saint Tammany Parish registered the fourth highest total, documenting 210 properties with foreclosure filings.

 

Orleans Parish posts state’s top foreclosure rate in the state for first quarter

Orleans Parish led the state, with one in every 218 housing units receiving a foreclosure filing — 4.3 times the state average. East Baton Rouge Parish came in second, with one in every 427 housing units receiving a foreclosure filing — 2.2 times the state average. Saint Tammany Parish posted the third highest foreclosure rate, where one in every 450 housing units received a foreclosure filing during the month — 2.1 times the state average

 

State a minor contributor to nation’s foreclosure total for Q1 2009

Louisiana accounted for less than 1 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

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 quarter — 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 quarter — which is extremely rare — only the most recent filing is counted in the report.

 

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– Q1 2009

Properties with Foreclosure Filings

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%Change from Q4 08

%Change from Q1 08

 

 

 

 

 

 

 

 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16

23.63

Louisiana

0

9

19

1,507

436

1,971

943

15.87

1.70

 

 

 

 

 

 

 

 

 

 

Acadia

0

0

1

6

0

7

3,532

0.00%

Allen

0

0

0

0

0

0

-100.00%

Ascension

0

0

0

7

0

7

5,503

-63.16%

133.33%

Assumption

0

0

0

0

0

0

-100.00%

Avoyelles

0

0

0

0

0

0

-100.00%

Beauregard

0

0

0

0

0

0

-100.00%

Bienville

0

0

0

0

0

0

-100.00%

Bossier

0

0

0

64

28

92

515

13.58%

-5.15%

Caddo

0

0

2

47

34

83

1,363

22.06%

2.47%

Calcasieu

0

0

0

6

2

8

10,229

14.29%

700.00%

Caldwell

0

0

0

2

0

2

2,611

Cameron

0

0

0

0

0

0

Catahoula

0

0

0

0

0

0

Claiborne

0

0

0

2

0

2

4,075

100.00%

Concordia

0

0

0

0

0

0

De Soto

0

0

0

7

2

9

1,310

-35.71%

350.00%

East Baton Rouge

0

4

3

361

66

434

427

864.44%

25.80%

East Carroll

0

0

0

0

0

0

East Feliciana

0

0

0

0

0

0

-100.00%

-100.00%

Evangeline

0

0

1

0

0

1

15,103

-50.00%

Franklin

0

0

0

5

0

5

1,805

400.00%

0.00%

Grant

0

0

0

0

0

0

-100.00%

Iberia

0

0

0

17

0

17

1,753

750.00%

1600.00%

Iberville

0

0

0

0

0

0

-100.00%

Jackson

0

0

0

0

0

0

Jefferson

0

3

0

242

93

338

535

-17.76%

-28.09%

Jefferson Davis

0

0

0

0

0

0

-100.00%

La Salle

0

0

0

0

0

0

-100.00%

Lafayette

0

0

0

45

7

52

1,706

30.00%

-55.56%

Lafourche

0

0

1

6

0

7

5,389

75.00%

16.67%

Lincoln

0

0

0

2

0

2

9,205

0.00%

-66.67%

Livingston

0

0

0

8

0

8

5,613

60.00%

700.00%

Madison

0

0

0

0

0

0

Morehouse

0

0

1

0

0

1

13,221

0.00%

Natchitoches

0

0

0

2

1

3

6,058

-40.00%

Orleans

0

0

6

414

92

512

218

11.06%

3.43%

Ouachita

0

0

2

18

2

22

2,904

37.50%

0.00%

Plaquemines

0

0

0

0

0

0

-100.00%

Pointe Coupee

0

0

0

0

0

0

-100.00%

Rapides

0

2

0

52

30

84

668

-19.23%

10.53%

Red River

0

0

0

0

0

0

Richland

0

0

0

5

0

5

1,778

150.00%

400.00%

Sabine

0

0

0

1

0

1

14,530

Saint Bernard

0

0

0

0

1

1

8,396

-75.00%

Saint Charles

0

0

0

4

0

4

4,982

0.00%

-20.00%

Saint Helena

0

0

0

0

0

0

Saint James

0

0

0

0

0

0

-100.00%

Saint Landry

0

0

1

9

0

10

3,866

66.67%

900.00%

Saint Martin

0

0

0

1

0

1

21,957

-75.00%

0.00%

Saint Mary

0

0

0

1

0

1

22,580

-66.67%

Saint Tammany

0

0

0

146

64

210

450

-27.84%

23.53%

St John The Baptist

0

0

0

0

0

0

-100.00%

-100.00%

Tangipahoa

0

0

1

11

12

24

2,065

-48.94%

33.33%

Tensas

0

0

0

0

0

0

Terrebonne

0

0

0

8

1

9

4,888

-10.00%

12.50%

Union

0

0

0

4

0

4

3,051

33.33%

Vermilion

0

0

0

1

0

1

24,124

Vernon

0

0

0

0

1

1

22,089

0.00%

Washington

0

0

0

0

0

0

Webster

0

0

0

3

0

3

6,661

0.00%

West Baton Rouge

0

0

0

0

0

0

-100.00%

West Carroll

0

0

0

0

0

0

West Feliciana

0

0

0

0

0

0

Winn

0

0

0

0

0

0

-100.00%

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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