LOUISIANA FORECLOSURE ACTIVITY UP 19 PERCENT IN APRIL

Foreclosure Activity Up 79 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 1,125 Louisiana properties in April, a 19 percent increase from the previous month and 79 percent above the level reported for April 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.

 

Louisiana foreclosures were up both in April and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s unemployment rate remains well below the national average, statistics show that its home sales fell significantly further than the national average last year. This has likely contributed to the rise. Even so, Louisiana’s foreclosure rate is still below most states.”

 

Louisiana ranked 32nd in the country in total foreclosures reported for the month. With one in every 1,653 housing units receiving a foreclosure filing, its foreclosure rate ranked 38th among the 50 states.

 

Five parishes account for bulk of state foreclosure activity in April

East Baton Rouge Parish led the way, reporting 319 properties with foreclosure filings for the month. Orleans Parish reported 309 properties with foreclosure filings, the state’s second highest parish total. Jefferson Parish came in third highest, reporting 153 properties with foreclosure filings. Saint Tammany Parish came in fourth, documenting 120 properties with foreclosure filings, while the fifth highest total was in Caddo Parish, where 48 properties with foreclosure filings were reported for the month.

 

Orleans Parish posts state’s highest foreclosure rate for April

Orleans Parish topped the list, with one in every 362 housing units receiving a foreclosure filing — 4.6 times the state average. East Baton Rouge Parish had the second highest foreclosure rate, with one in every 581 housing units receiving a foreclosure filing — 2.9 times the state average. Iberia Parish documented the third highest foreclosure rate, where one in every 662 housing units received a foreclosure filing during the month — 2.5 times the state average.

 

State contributes less than 1 percent to nation’s foreclosure total in April

Louisiana accounted for less than 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 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 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 – April 2009

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Louisiana

0

1

0

896

228

1,125

1,653

18.80

78.57

 

 

 

 

 

 

 

 

 

 

Acadia

0

0

0

1

0

1

24,723

-80.00

-97.83

Allen

0

0

0

0

0

0

 n/a

 n/a

-100.00

Ascension

0

0

0

2

0

2

19,260

 n/a

-33.33

Assumption

0

0

0

0

0

0

 n/a

 n/a

-100.00

Avoyelles

0

0

0

1

0

1

17,836

 n/a

 n/a

Beauregard

0

0

0

0

0

0

 n/a

 n/a

 n/a

Bienville

0

0

0

0

0

0

 n/a

 n/a

 n/a

Bossier

0

0

0

15

4

19

2,495

26.67

-40.63

Caddo

0

0

0

29

19

48

2,357

65.52

108.70

Calcasieu

0

0

0

2

0

2

40,916

-50.00

-33.33

Caldwell

0

0

0

0

0

0

 n/a

-100.00

 n/a

Cameron

0

0

0

0

0

0

 n/a

 n/a

 n/a

Catahoula

0

0

0

0

0

0

 n/a

 n/a

 n/a

Claiborne

0

0

0

0

0

0

 n/a

 n/a

 n/a

Concordia

0

0

0

0

0

0

 n/a

 n/a

 n/a

De Soto

0

0

0

0

0

0

 n/a

-100.00

 n/a

East Baton Rouge

0

1

0

315

3

319

581

9.25

73.37

East Carroll

0

0

0

0

0

0

 n/a

 n/a

 n/a

East Feliciana

0

0

0

1

0

1

8,322

 n/a

 n/a

Evangeline

0

0

0

0

0

0

 n/a

 n/a

 n/a

Franklin

0

0

0

1

0

1

9,024

-50.00

-75.00

Grant

0

0

0

1

0

1

9,073

 n/a

 n/a

Iberia

0

0

0

0

45

45

662

164.71

4400.00

Iberville

0

0

0

0

0

0

 n/a

 n/a

-100.00

Jackson

0

0

0

0

0

0

 n/a

 n/a

 n/a

Jefferson

0

0

0

127

26

153

1,181

4.79

101.32

Jefferson Davis

0

0

0

2

0

2

6,764

 n/a

 n/a

La Salle

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lafayette

0

0

0

27

4

31

2,861

-3.13

63.16

Lafourche

0

0

0

0

0

0

 n/a

-100.00

 n/a

Lincoln

0

0

0

0

0

0

 n/a

 n/a

-100.00

Livingston

0

0

0

5

0

5

8,981

-16.67

 n/a

Madison

0

0

0

0

0

0

 n/a

 n/a

 n/a

Morehouse

0

0

0

0

0

0

 n/a

 n/a

 n/a

Natchitoches

0

0

0

0

0

0

 n/a

 n/a

 n/a

Orleans

0

0

0

219

90

309

362

30.93

113.10

Ouachita

0

0

0

16

1

17

3,759

112.50

88.89

Plaquemines

0

0

0

0

0

0

 n/a

 n/a

 n/a

Pointe Coupee

0

0

0

0

0

0

 n/a

 n/a

 n/a

Rapides

0

0

0

4

7

11

5,102

-69.44

10.00

Red River

0

0

0

0

0

0

 n/a

 n/a

 n/a

Richland

0

0

0

0

0

0

 n/a

-100.00

 n/a

Sabine

0

0

0

0

0

0

 n/a

-100.00

 n/a

Saint Bernard

0

0

0

0

0

0

 n/a

 n/a

 n/a

Saint Charles

0

0

0

1

0

1

19,928

-50.00

0.00

Saint Helena

0

0

0

0

0

0

 n/a

 n/a

 n/a

Saint James

0

0

0

0

0

0

 n/a

 n/a

 n/a

Saint Landry

0

0

0

3

0

3

12,886

-62.50

 n/a

Saint Martin

0

0

0

0

1

1

21,957

 n/a

 n/a

Saint Mary

0

0

0

0

0

0

 n/a

 n/a

-100.00

Saint Tammany

0

0

0

100

20

120

787

64.38

185.71

St John The Baptist

0

0

0

0

0

0

 n/a

 n/a

 n/a

Tangipahoa

0

0

0

7

7

14

3,539

-12.50

133.33

Tensas

0

0

0

0

0

0

 n/a

 n/a

 n/a

Terrebonne

0

0

0

11

0

11

4,000

175.00

450.00

Union

0

0

0

1

0

1

12,204

-66.67

 n/a

Vermilion

0

0

0

0

0

0

 n/a

-100.00

n/a 

Vernon

0

0

0

0

0

0

 n/a

 n/a

 n/a

Washington

0

0

0

4

0

4

5,100

 n/a

 n/a

Webster

0

0

0

1

1

2

9,991

100.00

100.00

West Baton Rouge

0

0

0

0

0

0

 n/a

 n/a

-100.00

West Carroll

0

0

0

0

0

0

 n/a

 n/a

 n/a

West Feliciana

0

0

0

0

0

0

 n/a

 n/a

 n/a

Winn

0

0

0

0

0

0

 n/a

n/a 

 n/a

 

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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