LOUISIANA FORECLOSURES DECREASE 25 PERCENT IN MARCH

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 383 Percent From a Year Ago

 

IRVINE, Calif. – April 23, 2007 – Louisiana reported 579 foreclosure filings in March, a 25 percent decrease from the previous month, but still a 383 percent increase from March 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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 declined in March, they are more than four times higher than they were a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “As the state continues its rebuilding efforts post Hurricane Katrina, it is likely that foreclosures will continue to occur.”

 

Louisiana ranked 31st in the country in total foreclosures for March. The state’s foreclosure rate of one foreclosure filing for every 3,252 households ranks it 39th among the 50 states.

 

Top three parishes account for largest share of state total

Three parishes accounted for 62 percent of all foreclosures in Louisiana for March. Jefferson Parish reported the highest total, with 169 foreclosure filings for the month. Orleans Parish came in second, with 117 foreclosure filings, followed by East Baton Rouge Parish with 72 foreclosure filings.

 

Jefferson Parish posts state’s highest foreclosure rate

Jefferson Parish posted the highest foreclosure rate in Louisiana for March, reporting one foreclosure filing for every 1,112 households — 2.9 times the state average. Saint Tammany reported the second highest rate, with one foreclosure filing for every 1,300 households — 2.5 times the state average. Orleans Parish posted the third highest foreclosure rate, with one filing for every 2,146 households — 1.5 times the state average.

 

State contributes less than 1 percent to national total

Total foreclosure filings in Louisiana accounted for less than 1 percent of the 149,150 foreclosure filings nationwide. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 775 U.S. households during 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 – March 2007

 

Parish

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,135

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

Louisiana

38

480

0

0

61

579

3,252

0.24

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

3

0

0

0

3

9,724

0.08

0.33

Assumption

1

1

0

0

0

2

4,818

0.16

0.68

Avoyelles

0

2

0

0

0

2

8,288

0.09

0.39

Beauregard

 

1

0

0

0

0

1

14,501

0.05

0.22

Bienville

0

0

0

0

0

0

n/a

0.00

0.00

Bossier

0

7

0

0

10

17

2,370

0.33

1.37

Caddo

0

45

0

0

1

46

2,354

0.33

1.38

Calcasieu

1

6

0

0

0

7

10,856

0.07

0.30

Catahoula

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

7

52

0

0

13

72

2,348

0.33

1.39

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Iberia

0

3

0

0

0

3

9,281

0.08

0.35

Jefferson

6

144

0

0

19

169

1,112

0.70

2.93

Lafayette

1

7

0

0

0

8

9,765

0.08

0.33

Lafourche

1

3

0

0

0

4

8,761

0.09

0.37

Lincoln

0

2

0

0

0

2

8,500

0.09

0.38

Livingston

0

2

0

0

0

2

18,106

0.04

0.18

Madison

0

1

0

0

0

1

4,979

0.16

0.65

Orleans

13

104

0

0

0

117

2,146

0.36

1.52

Ouachita

1

13

0

0

0

14

4,297

0.18

0.76

Plaquemines

0

0

0

0

0

0

n/a

0.00

0.00

Rapides

2

17

0

0

0

19

2,739

0.28

1.19

Richland

0

1

0

0

1

2

4,168

0.19

0.78

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

4

0

0

0

4

4,358

0.18

0.75

Saint James

0

0

0

0

0

0

n/a

0.00

0.00

Saint Landry

0

3

0

0

0

3

12,072

0.06

0.27

Saint Martin

0

0

0

0

0

0

n/a

0.00

0.00

Saint Mary

0

1

0

0

0

1

21,650

0.04

0.15

Saint Tammany

2

43

0

0

13

58

1,300

0.60

2.50

St John the Baptist

1

0

0

0

0

1

15,532

0.05

0.21

Tangipahoa

1

8

0

0

3

12

3,400

0.23

0.96

Terrebonne

0

4

0

0

0

4

9,982

0.08

0.33

Vermillion

0

0

0

0

0

0

n/a

0.00

0.00

Vernon

0

1

0

0

0

1

21,030

0.04

0.15

Washington

0

0

0

0

1

1

19,106

0.04

0.17

Webster

0

0

0

0

0

0

n/a

0.00

0.00

West Baton Rouge

0

3

0

0

0

3

2,790

0.28

1.17

West Feliciana

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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