LOUISIANA FORECLOSURES DECREASE 21 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 90 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – Louisiana reported 557 foreclosure filings in July, down 21 percent from the previous month, but still a 90 percent increase from July 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.

 

“Although Louisiana foreclosures decreased in July, the numbers have almost doubled since this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “One contributing factor to this overall rise is home sales throughout the state which declined by more than the national average during last quarter.”

 

Louisiana ranked 30th in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 3,484 households ranked it 37th among the 50 states.

 

Five counties account for bulk of state activity

Total foreclosure filings in five Louisiana counties accounted for 75 percent of the state’s activity in July. Jefferson County led the way, reporting 200 foreclosure filings for the month. Orleans County came in second, reporting 107 filings. East Baton Rouge County reported the third highest county total with 42 foreclosure filings. Fourth highest total was reported in Lafayette County with 36 filings. Tangipohoa County reported the fifth highest total with 34 filings in the foreclosure pipeline.

 

Highest foreclosure rate reported in Jefferson County

With a rate of one foreclosure filing for every 962 households — 3.6 times the state average — Jefferson County reported the highest county foreclosure rate in the state for July. Second was Tangipohoa County with one foreclosure filing for every 1,309 households — 2.7 times the state average. Bossier County posted the third highest foreclosure rate, one foreclosure filing for every 1,949 households — 1.8 times the state average. Orleans County came in fourth with a foreclosure rate of one foreclosure filing for every 1,992 households — 1.8 times the state average. Lafayette County rounded out the state’s top five with a rate of one foreclosure filing for every 2,359 households — 1.5 times the state average.

 

State a minor contributor to nation’s monthly total

Total foreclosure filings in Louisiana accounted for less than 1 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 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 County – July 2007

 

Parish

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Louisiana

0

4

470

25

58

557

3,484

0.20

n/a

 

 

 

 

 

 

 

 

 

 

Acadia

0

0

1

0

0

1

23,982

0.03

0.15

Allen

0

0

0

0

0

0

n/a

0.00

0.00

Ascension

0

0

2

1

0

3

11,622

0.06

0.30

Avoyelles

0

0

1

0

0

1

17,435

0.04

0.20

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

21

0

2

23

1,949

0.36

1.79

Caddo

0

0

25

1

0

26

4,282

0.16

0.81

Calcasieu

0

0

2

1

0

3

27,286

0.03

0.13

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

Concordia

0

0

0

0

0

0

n/a

0.00

0.00

De Soto

0

0

0

0

0

0

n/a

0.00

0.00

East Baton Rouge

0

1

30

0

11

42

4,246

0.16

0.82

East Feliciana

0

0

2

0

0

2

4,083

0.17

0.85

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Iberia

0

0

2

1

0

3

9,614

0.07

0.36

Iberville

0

0

0

0

0

0

n/a

0.00

0.00

Jackson

0

1

0

0

0

1

7,522

0.09

0.46

Jefferson

0

0

173

4

23

200

962

0.72

3.62

Lafayette

0

0

35

1

0

36

2,359

0.29

1.48

Lafourche

0

0

1

0

0

1

36,679

0.02

0.09

Livingston

0

0

3

2

0

5

8,278

0.08

0.42

Morehouse

0

0

0

1

0

1

13,076

0.05

0.27

Natchitoches

0

0

0

1

0

1

17,701

0.04

0.20

Orleans

0

0

103

4

0

107

1,992

0.35

1.75

Ouachita

0

0

14

0

0

14

4,544

0.16

0.78

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

10

1

0

12

4,544

0.15

0.77

Red River

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

0

0

1

18,673

0.04

0.19

Saint James

0

0

0

0

0

0

n/a

0.00

0.00

Saint Landry

0

0

1

3

0

4

9,417

0.07

0.37

Saint Martin

0

0

0

0

0

0

n/a

0.00

0.00

Saint Tammany

0

0

17

1

8

26

3,415

0.20

1.02

St John the Baptist

0

0

1

0

14

34

16,879

0.04

0.21

Tangipahoa

0

0

19

1

14

34

1,309

0.53

2.66

Terrebonne

0

0

2

0

0

2

21,291

0.03

0.16

Union

0

0

0

0

0

0

n/a

0.00

0.00

Vermilion

0

1

0

0

0

1

23,585

0.03

0.15

Vernon

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

0

2

0

0

2

9,875

0.07

0.35

Webster

0

0

0

1

0

1

19,596

0.04

0.18

West Baton Rouge

0

0

1

1

0

2

4,435

0.16

0.79

West Feliciana

0

0

0

0

0

0

n/a

0.00

0.00

Winn

0

0

1

0

0

1

7,679

0.09

0.45

 

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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