LOUISIANA FORECLOSURE ACTIVITY UP 23 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Increases 117 Percent From August 2006

 

IRVINE, Calif. – Sept. 21, 2007 – Louisiana reported 687 foreclosure filings in August, a 23 percent increase from the previous month, and 117 percent above the number reported in August 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate — one foreclosure filing for every 2,824 households — was the 38th highest in the nation.

 

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 grossly elevated compared to the same time last year.”

 

Louisiana ranked 31st in the country in total foreclosures reported for August.

 

Jefferson Parish leads state in foreclosure activity

Jefferson Parish led the state with 222 foreclosure filings for the month. Orleans Parish reported the second highest foreclosure total, with 159 foreclosure filings. East Baton Rouge Parish came in third highest, with 59 filings entering some part of the foreclosure pipeline.

 

Jefferson Parish posts highest foreclosure rate

Jefferson Parish posted the highest foreclosure rate in the state for August, with one foreclosure filing for every 867 households — 3.3 times the state average. Orleans Parish posted the second highest foreclosure rate, with one foreclosure filing for every 1,340 households — 2.1 times the state average. Bossier Parish posted the third highest foreclosure rate in the state, with one foreclosure filing for every 1,949 households — 1.5 times the state average. Saint Tammany Parish had the fourth highest foreclosure rate, with one foreclosure filing for every 2,065 households — 1.4 times the state average.

 

State a minor contributor to national total

Louisiana accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

Parish

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Louisiana

0

1

575

39

72

687

2,824

0.18

n/a

 

 

 

 

 

 

 

 

 

 

Acadia

0

0

0

0

0

0

n/a

0.00

0.00

Ascension

0

0

0

2

0

2

17,433

0.03

0.16

Avoyelles

0

0

1

0

1

2

8,718

0.06

0.32

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

18

1

4

23

1,949

0.26

1.45

Caddo

0

1

40

2

0

43

2,589

0.20

1.09

Calcasieu

0

0

2

2

0

4

20,464

0.02

0.14

Concordia

0

0

1

0

0

1

9,446

0.05

0.30

De Soto

0

0

0

0

0

0

n/a

0.00

0.00

East Baton Rouge

0

0

42

4

13

59

3,023

0.17

0.93

East Feliciana

0

0

2

1

0

3

2,722

0.19

1.04

Evangeline

0

0

1

0

1

2

7,428

0.07

0.38

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Iberia

0

0

1

1

0

2

14,421

0.04

0.20

Iberville

0

0

0

1

0

1

12,403

0.04

0.23

Jefferson

0

0

180

5

37

222

867

0.59

3.26

Jefferson Davis

0

0

0

0

0

0

n/a

0.00

0.00

Lafayette

0

0

39

1

0

40

2,123

0.24

1.33

Lafourche

0

0

3

1

1

5

7,336

0.07

0.39

Livingston

0

0

2

3

0

5

8,278

0.06

0.34

Morehouse

0

0

0

0

0

0

n/a

0.00

0.00

Orleans

0

0

158

1

0

159

1,340

0.38

2.11

Ouachita

0

0

10

2

1

13

4,794

0.11

0.59

Rapides

0

0

12

2

0

14

3,895

0.13

0.73

Red River

0

0

0

0

0

0

n/a

0.00

0.00

Richland

0

0

2

1

0

3

2,868

0.18

0.98

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 James

0

0

0

1

0

1

7,935

0.06

0.36

Saint Landry

0

0

1

0

1

2

18,834

0.03

0.15

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

35

2

6

43

2,065

0.25

1.37

St John the Baptist

0

0

2

1

0

3

5,626

0.09

0.50

Tangipahoa

0

0

14

0

6

20

2,225

0.23

1.27

Terrebonne

0

0

6

2

0

8

5,323

0.10

0.53

Union

0

0

0

0

1

1

11,597

0.04

0.24

Vermilion

0

0

0

2

0

2

11,793

0.04

0.24

Vernon

0

0

0

0

0

0

n/a

0.00

0.00

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

1

0

2

4,435

0.12

0.64

West Carroll

0

0

1

0

0

1

5,129

0.10

0.55

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

0.37

 

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

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved