LOUISIANA FORECLOSURE ACTIVITY UP 74 PERCENT IN JULY

Activity Up 83 Percent From a Year Ago

 

IRVINE, Calif. – Aug. 29, 2008 – Louisiana reported 1,017 properties with foreclosure filings in July. Statewide activity increased 74 percent for the month and increased 83 percent from July 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 1.5 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.

 

“Although Louisiana foreclosures are up both in July and from this time last year, they are still lower than than national average,” said James J. Saccacio, chief executive officer of ReatlyTrac. “At a time like this where the housing market has declined rapidly nationwide, most states are seeing a jump in foreclosures.”

 

With one in every 1,799 households receiving a foreclosure filing, Louisiana’s foreclosure rate ranked 39th among the 50 states.

 

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

Five Louisiana parishes accounted for 92 percent of all foreclosure activity in the state for July. East Baton Rouge Parish reported the highest total — 335 properties with foreclosure filings — followed by Orleans Parish, which documented 239 properties with foreclosure filings. Saint Tammany Parish reported the third highest total — 165 properties with foreclosure filings — followed by Jefferson Parish, where 161 properties with foreclosure filings were reported. Lafayette Parish came in fifth with 34 properties with foreclosure filings.

 

Orleans Parish posts top foreclosure rate for July

Orleans Parish tallied the highest parish foreclosure rate in the state in July, with one in every 442 households receiving a foreclosure filing for the month — 4.1 times the state average. East Baton Rouge Parish posted the state’s second highest rate, with one in every 541 households receiving a foreclosure filing during the month — 3.3 times the state average. The third highest rate in the state was reported in Saint Tammany Parish, where one in every 565 households received a foreclosure filing in July — 3.2 times the state average.

 

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

Louisiana accounted for less than 1 percent of the 272,171 properties with foreclosure filings reported nationwide in July. The national total represents an increase of almost 8 percent from the previous month and is 55 percent ahead of the total reported for July 2007. One in every 464 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 Data by Parish – July 2008

 

Parish

NOD

LIS

NTS

NFS

REO

Total

1/every X  HH (rate)

/National Average

/State Average

 

 

 

 

United States

55,601

55,042

57,145

27,088

77,295

272,171

464

n/a

n/a

Louisiana

0

2

4

822

189

1,017

1,799

0.26

n/a

 

 

 

 

 

 

 

 

 

Acadia

0

0

1

0

0

1

24,482

0.02

0.07

Allen

0

0

0

0

1

1

9,490

0.05

0.19

Ascension

0

0

0

1

0

1

36,661

0.01

0.05

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

12

3

15

3,075

0.15

0.59

Caddo

0

0

0

14

3

17

6,632

0.07

0.27

Calcasieu

0

0

0

1

0

1

81,773

0.01

0.02

Caldwell

0

0

1

0

0

1

5,189

0.09

0.35

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

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

11,705

0.04

0.15

East Baton Rouge

0

1

0

234

100

335

541

0.86

3.33

East Carroll

0

0

0

0

0

0

 n/a

0.00

0.00

East Feliciana

0

0

0

1

0

1

8,262

0.06

0.22

Evangeline

0

0

0

0

0

0

 n/a

0.00

0.00

Franklin

0

0

0

1

0

1

8,945

0.05

0.20

Grant

0

0

0

0

0

0

 n/a

0.00

0.00

Iberia

0

0

0

0

1

1

29,357

0.02

0.06

Iberville

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

0

0

0

107

54

161

1,144

0.41

1.57

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

33

1

34

2,542

0.18

0.71

Lafourche

0

0

0

2

0

2

18,600

0.02

0.10

Lincoln

0

0

0

1

0

1

18,310

0.03

0.10

Livingston

0

0

0

0

0

0

 n/a

0.00

0.00

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

0

0

233

6

239

442

1.05

4.07

Ouachita

0

0

0

10

0

10

6,324

0.07

0.28

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

1

0

9

0

10

5,528

0.08

0.33

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

1

1

0

2

9,748

0.05

0.18

Saint Helena

0

0

0

0

0

0

 n/a

0.00

0.00

Saint James

0

0

0

1

0

1

8,138

0.06

0.22

Saint Landry

0

0

0

0

1

1

38,163

0.01

0.05

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

147

18

165

565

0.82

3.18

St John The Baptist

0

0

1

1

0

2

8,589

0.05

0.21

Tangipahoa

0

0

0

11

1

12

3,959

0.12

0.45

Tensas

0

0

0

0

0

0

 n/a

0.00

0.00

Terrebonne

0

0

0

0

0

0

 n/a

0.00

0.00

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

0

0

0

 n/a

0.00

0.00

Washington

0

0

0

1

0

1

19,970

0.02

0.09

Webster

0

0

0

0

0

0

 n/a

0.00

0.00

West Baton Rouge

0

0

0

0

0

0

 n/a

0.00

0.00

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

0

0

 n/a

0.00

0.00

 

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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