LOUISIANA FORECLOSURES INCREASE 39 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 420 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Louisiana reported 707 foreclosure filings in June, a 39 percent increase from the previous month, and 420 percent above the number reported in June 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.

 

“Though economic recovery remains slow in New Orleans, other metropolitan areas in Louisiana appear to be thriving economically,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, Louisiana’s foreclosure activity remains grossly elevated compared to the same time last year.”

 

Louisiana ranked 29th in the country in total foreclosures reported for June. The state’s foreclosure rate of one foreclosure filing for every 2,613 households ranked it 33rd among the 50 states.

 

Orleans Parish leads state in foreclosure activity

Orleans Parish led the state in foreclosure activity for June, reporting 261 foreclosure filings. Jefferson Parish reported the second highest parish total with 151 foreclosure filings. East Baton Rouge Parish came in third with 92 foreclosure filings for the month.

 

Orleans Parish posts highest foreclosure rate

Orleans Parish posted the highest foreclosure rate in the state, with one foreclosure filing for every 962 households — 2.7 times the state average. Jefferson Parish posted the second highest foreclosure rate in the state, with one foreclosure filing for every 1,244 households — 2.1 times the state average. East Baton Rouge Parish posted the third highest foreclosure rate, with one foreclosure filing for every 1,838 households — 1.4 times the state average.

 

State a minor contributor to national total

Total foreclosure filings in Louisiana accounted for less than 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 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 – June 2007

 

Parish

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Louisiana

0

418

234

17

38

707

2,613

0.27

n/a

 

 

 

 

 

 

 

 

 

 

Acadia

0

0

1

0

0

1

23,209

0.03

0.11

Allen

0

0

0

0

0

0

n/a

0.00

0.00

Ascension

0

0

0

0

0

0

n/a

0.00

0.00

Avoyelles

0

0

1

0

0

1

16,576

0.04

0.16

Beauregard

0

0

0

0

0

0

n/a

0.00

0.00

Bienville

0

0

0

1

0

1

7,830

0.09

0.33

Bossier

0

2

9

1

1

13

3,099

0.23

0.84

Caddo

0

28

30

0

0

58

1,867

0.38

1.40

Calcasieu

0

0

3

1

0

4

18,999

0.04

0.14

Cameron

0

0

0

0

0

0

n/a

0.00

0.00

De Soto

0

0

0

1

0

1

11,204

0.06

0.23

East Baton Rouge

0

0

68

4

20

92

1,838

0.38

1.42

East Feliciana

0

1

0

0

0

1

7,915

0.09

0.33

Evangeline

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

0

1

0

0

1

8,623

0.08

0.30

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Iberia

0

0

1

0

0

1

27,844

0.03

0.09

Jefferson

0

90

55

1

5

151

1,244

0.57

2.10

Lafayette

0

23

18

0

0

41

1,905

0.37

1.37

Lafourche

0

0

0

0

1

1

35,045

0.02

0.07

Livingston

0

0

3

0

0

3

12,071

0.06

0.22

Morehouse

0

0

2

0

0

2

6,356

0.11

0.41

Orleans

0

253

4

2

2

261

962

0.73

2.72

Ouachita

0

1

14

0

0

15

4,010

0.18

0.65

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

2

6

0

0

8

6,505

0.11

0.40

Saint Bernard

0

0

0

0

0

0

n/a

0.00

0.00

Saint Charles

0

2

0

0

0

2

8,715

0.08

0.30

Saint Landry

0

5

1

0

0

6

6,036

0.12

0.43

Saint Martin

0

0

0

0

0

0

n/a

0.00

0.00

Saint Mary

0

0

1

0

0

1

21,650

0.03

0.12

Saint Tammany

0

7

2

4

3

16

4,712

0.15

0.55

St John the Baptist

0

0

1

0

0

1

15,532

0.05

0.17

Tangipahoa

0

0

10

0

5

15

2,720

0.26

0.96

Terrebonne

0

4

1

0

0

5

7,986

0.09

0.33

Union

0

0

0

0

1

1

10,873

0.06

0.24

Vermilion

0

0

0

0

0

0

 

0.00

0.00

Washington

0

0

0

1

0

1

19,106

0.04

0.14

Webster

0

0

0

0

0

0

n/a

0.00

0.00

West Baton Rouge

0

0

1

0

0

1

8,370

0.08

0.31

West Feliciana

0

0

0

1

0

1

4,485

0.16

0.58

Winn

0

0

1

0

0

1

7,502

0.09

0.35

 

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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