MINNESOTA FORECLOSURES DECREASE 13 PERCENT IN MARCH

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 45 Percent From a Year Ago

 

IRVINE, Calif. – April 23, 2007 – Minnesota reported 808 foreclosure filings in March, a 13 percent decrease from the previous month, but still a 45 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 Minnesota foreclosures have decreased slightly in March, the numbers are up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home price appreciation rate was 58 percent lower than the national average last year. This may be contributing to the overall increase.”

 

Minnesota ranked 25th in the country in total foreclosures for March. The state’s foreclosure rate of one foreclosure filing for every 2,559 households ranks it 36th among the 50 states.

 

Hennepin County accounts for largest share of state total

Hennepin County reported the highest total for the month, with 511 foreclosure filings. Dakota County came in second, with 81 foreclosure filings, followed by Wright County with 57 foreclosure filings.

 

Wright County posts highest foreclosure rate

Wright County posted the highest foreclosure rate in Minnesota for March, reporting one foreclosure filing for every 603 households — 4.3 times the state average and 1.3 times the national average. Carver County reported the second highest foreclosure rate, with one foreclosure filing for every 889 households — 2.9 times the state average. Hennepin County reported the third highest foreclosure rate, with one foreclosure filing for every 917 households — 2.8 times the state average. 

 

State contributes 1 percent to national total

Total foreclosure filings in Minnesota accounted for 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.

 

 

Minnesota Foreclosure Market by County – March 2007

 

County

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

Minnesota

123

566

0

0

119

808

2,559

0.30

n/a

 

 

 

 

 

 

 

 

 

 

Anoka

1

9

0

0

0

10

10,809

0.07

0.24

Becker

0

0

0

0

0

0

n/a

0.00

0.00

Beltrami

0

0

0

0

0

0

n/a

0.00

0.00

Benton

0

0

0

0

0

0

n/a

0.00

0.00

Blue Earth

0

2

0

0

0

2

10,986

0.07

0.23

Carver

16

0

0

0

12

28

889

0.87

2.88

Chisago

0

2

0

0

0

2

7,767

0.10

0.33

Clay

3

3

0

0

6

12

1,646

0.47

1.56

Crow wing

0

0

0

0

0

0

n/a

0.00

0.00

Dakota

42

4

0

0

35

81

1,651

0.47

1.55

Douglas

0

0

0

0

0

0

n/a

0.00

0.00

Faribault

0

0

0

0

2

2

3,624

0.21

0.71

Hennepin

1

509

0

0

1

511

917

0.84

2.79

Houston

0

0

0

0

0

0

n/a

0.00

0.00

Hubbard

0

0

0

0

0

0

n/a

0.00

0.00

Isanti

0

1

0

0

0

1

12,062

0.06

0.21

Kandiyohi

0

0

0

0

2

2

9,208

0.08

0.28

Lyon

0

1

0

0

0

1

10,298

0.08

0.25

Martin

0

0

0

0

1

1

9,800

0.08

0.26

McLeod

0

1

0

0

0

1

14,087

0.06

0.18

Meeker

1

0

0

0

0

1

9,821

0.08

0.26

Mille Lacs

0

2

0

0

0

2

5,234

0.15

0.49

Murray

0

1

0

0

0

1

4,357

0.18

0.59

Norman

0

1

0

0

0

1

3,455

0.22

0.74

Olmsted

0

0

0

0

0

0

n/a

0.00

0.00

Otter Tail

0

0

0

0

0

0

n/a

0.00

0.00

Pine

0

0

0

0

0

0

n/a

0.00

0.00

Ramsey

4

10

0

0

5

19

10,866

0.07

0.24

Rice

0

1

0

0

2

3

6,687

0.12

0.38

Saint Louis

16

4

0

0

11

31

3,090

0.25

0.83

Scott

0

3

0

0

22

25

1,264

0.61

2.02

Sherburne

4

4

0

0

1

9

2,536

0.31

1.01

Stearns

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

4

0

0

0

4

18,409

0.04

0.14

Wilkin

0

0

0

0

0

0

n/a

0.00

0.00

Winona

0

0

0

0

0

0

n/a

0.00

0.00

Wright

35

3

0

0

19

57

603

1.29

4.25

Yellow Medicine

0

1

0

0

0

1

4,873

0.16

0.53

 

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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