LOUISIANA FORECLOSURE ACTIVITY UP 16 PERCENT IN OCTOBER

Foreclosure Activity Up 93 Percent From October 2006

 

IRVINE, Calif. – Nov. 26, 2007 – Louisiana reported 720 foreclosure filings in October, a 16 percent increase from the previous month, and a 93 percent increase from October 2006, 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 remain high within the state, some metropolitan areas within Louisiana appear to be thriving,” said James J. Saccacio, chief executive officer of RealtyTrac. “Nonetheless, foreclosure activity within the Pelican State remains elevated.”

 

Louisiana ranked 31st in the country in total foreclosures reported for October. The state’s foreclosure rate of one foreclosure filing for every 2,695 households ranked it 39th among the 50 states.

 

Jefferson Parish leads state in foreclosure activity

Jefferson Parish led the state in foreclosure activity for October, with 230 foreclosure filings for the month. East Baton Rouge Parish reported the second highest foreclosure total, with 151 foreclosure filings. Orleans Parish posted the third highest foreclosure total, with 146 foreclosure filings. Saint Tammany Parish registered the fourth highest foreclosure total, with 58 foreclosure filings entering some part of the foreclosure pipeline.

 

Jefferson Parish posts highest foreclosure rate

Jefferson Parish tallied the highest foreclosure rate in Louisiana for October, with one foreclosure filing for every 836 households — 3.2 times the state average. East Baton Rouge Parish registered the second highest foreclosure rate, with one foreclosure filing for every 1,181 households — 2.3 times the state average. Orleans Parish registered the third highest foreclosure rate, with one foreclosure filing for every 1,460 households.

 

State makes small contribution to national total

Total foreclosure filings in Louisiana accounted for less than 1 percent of the 224,451 foreclosure filings reported nationwide in October. The national total represents a 2 percent increase from the previous month, and is 94 percent above the total reported for October 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 555 U.S. households for 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 – October 2007

 

Parish

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

n/a

n/a

Louisiana

0

0

591

33

96

720

2,695

0.21

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

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

1

1

0

2

8,718

0.06

0.31

Beauregard

0

0

0

0

1

1

14,925

0.04

0.18

Bienville

0

0

0

0

0

0

n/a  

0.00

0.00

Bossier

0

0

2

3

3

8

5,603

0.10

0.48

Caddo

0

0

38

3

3

44

2,530

0.22

1.07

Calcasieu

0

0

2

1

0

3

27,286

0.02

0.10

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

1

0

1

5,554

0.10

0.49

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

1

0

1

11,566

0.05

0.23

East Baton Rouge

0

0

111

2

38

151

1,181

0.47

2.28

East Carroll

0

0

1

0

0

1

3,267

0.17

0.82

East Feliciana

0

0

1

0

0

1

8,166

0.07

0.33

Evangeline

0

0

0

0

1

1

14,855

0.04

0.18

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

1

1

1

3

9,614

0.06

0.28

Iberville

0

0

0

1

0

1

12,403

0.04

0.22

Jackson

0

0

0

0

0

0

n/a  

0.00

0.00

Jefferson

0

0

189

5

36

230

836

0.66

3.22

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

11

2

0

13

6,531

0.08

0.41

Lafourche

0

0

1

0

1

2

18,340

0.03

0.15

Lincoln

0

0

4

0

0

4

4,508

0.12

0.60

Livingston

0

0

2

0

0

2

20,696

0.03

0.13

Madison

0

0

0

0

0

0

n/a  

0.00

0.00

Morehouse

0

0

2

0

0

2

6,538

0.08

0.41

Natchitoches

0

0

2

0

0

2

8,851

0.06

0.30

Orleans

0

0

138

3

5

146

1,460

0.38

1.85

Ouachita

0

0

9

1

1

11

5,665

0.10

0.48

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

6

2

0

8

6,817

0.08

0.40

Red River

0

0

0

0

0

0

n/a  

0.00

0.00

Richland

0

0

2

0

0

2

4,302

0.13

0.63

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

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

0

0

0

0

0

n/a 

0.00

0.00

Saint Landry

0

0

0

1

1

2

18,834

0.03

0.14

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

54

3

1

58

1,531

0.36

1.76

St John the Baptist

0

0

1

1

1

3

5,626

0.10

0.48

Tangipahoa

0

0

3

0

3

6

7,415

0.07

0.36

Tensas

0

0

0

0

0

0

n/a  

0.00

0.00

Terrebonne

0

0

6

0

0

6

7,097

0.08

0.38

Union

0

0

0

0

0

0

n/a  

0.00

0.00

Vermilion

0

0

1

0

0

1

23,585

0.02

0.11

Vernon

0

0

0

1

0

1

21,679

0.03

0.12

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

1

0

0

1

8,870

0.06

0.30

West Carroll

0

0

1

0

0

1

5,129

0.11

0.53

West Feliciana

0

0

0

0

0

0

n/a  

0.00

0.00

Winn

0

0

1

0

0

1

7,679

0.07

0.35

 

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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