MISSISSIPPI FORECLOSURE ACTIVITY DOWN 10 PERCENT IN OCTOBER


Foreclosure Activity Decreases 30 PercentFrom October 2007

 

IRVINE, Calif. – Nov. 26, 2008 – Mississippi reported 197 properties with foreclosurefilings in October, a 10 percent decrease from the previous month, and 30percent below the level reported for October 2007, according to the latestRealtyTrac® U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive nationaldatabase of foreclosure andbank-owned properties, with over 1.5 million properties from over 2,200counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real EstateJournal.

 

Mississippiforeclosures are down both in October and from this time last year,” said JamesJ. Saccacio, chief executive officer of RealtyTrac. “Statistics show that thestate’s home price appreciation rate was slightly above the national averageduring the past year. This may be contributing to the overall decline.”


Mississippi ranked 43rd in the country in totalforeclosures reported for the month. With one in every 6,302 housing unitsreceiving a foreclosure filing, its foreclosure rate ranked 44thamong the 50 states.

 

Five counties dominate state’s foreclosure activityfor October

Five Mississippicounties accounted for 63 percent of all foreclosure activity in the state for October.De Soto County reported the highest total with 41properties with foreclosure filings for the month. Hinds Countydocumented the state’s second highest total, reporting 38 properties with foreclosurefilings. Third highest was Rankin County, reporting 27 propertieswith foreclosure filings. Washington County came in fourth place, documenting 11 propertieswith foreclosure filings, followed by Harrison Countywith seven properties with foreclosure filings.

 

De Soto County poststop foreclosure rate for October

De Soto County tallied the highest county foreclosure rate in thestate in October, with one in every 1,360 housing units receiving a foreclosurefiling for the month — 4.6 times the state average. Rankin County posted thestate’s second highest foreclosure rate, with one in every 1,970 housing unitsreceiving a foreclosure filing during the month — 3.2 times the state average. Washington County registered the third highest foreclosurerate in the state, where one in every 2,277 housing units received aforeclosure filing in October — 2.8 times the state average.

 

State accounts for less than 1 percent of nation’s foreclosuretotal in October

Mississippi accounted for less than 1 percent of the 279,561 properties with foreclosure filingsreported nationwide in October. The national total represented an increase ofmore than 5 percent from the previous month and was almost 25 percent ahead ofthe total reported for October 2007. The nation’s foreclosure rate rose to onein every 452 U.S.housing units receiving a foreclosure filing during the month.

 

Reportmethodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a countof the total number of properties with at least one foreclosure filing reportedduring the month — broken out by type of filing at the county, state andnational level. RealtyTrac’s report incorporates documents filed in all threephases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice ofForeclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties(that have been foreclosed on and repurchased by a bank). If more than oneforeclosure document is filed against a property during the month — which isextremely rare — only the most recent filing is counted in the report. Thereport also checks if the same type of document was filed against a property ina previous month. If so, and if that previous filing occurred within theestimated foreclosure timeframe for the state the property is in, the reportdoes not count the property in the current month.

 

For current news and information regarding foreclosure-related issues andtrends, check out our blog at www.ForeclosurePulse.com.

 

Mississippi Foreclosure Market Data by County – October 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,036

66,033

66,319

26,305

84,868

279,561

452

n/a

n/a

Mississippi

3

0

113

0

81

197

6,302

0.07

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

 n/a

0.00

0.00

Alcorn

0

0

0

0

0

0

 n/a

0.00

0.00

Amite

0

0

0

0

0

0

 n/a

0.00

0.00

Attala

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

Bolivar

0

0

0

0

1

1

15,410

0.03

0.41

Calhoun

0

0

0

0

1

1

7,150

0.06

0.88

Carroll

0

0

0

0

1

1

5,116

0.09

1.23

Chickasaw

0

0

0

0

1

1

8,281

0.05

0.76

Choctaw

0

0

0

0

1

1

4,403

0.10

1.43

Claiborne

0

0

0

0

1

1

4,426

0.10

1.42

Clarke

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Coahoma

0

0

0

0

0

0

 n/a

0.00

0.00

Copiah

0

0

0

0

1

1

11,440

0.04

0.55

Covington

0

0

0

0

1

1

8,502

0.05

0.74

De Soto

0

0

28

0

13

41

1,360

0.33

4.63

Forrest

0

0

1

0

3

4

8,092

0.06

0.78

Franklin

0

0

0

0

0

0

 n/a

0.00

0.00

George

0

0

0

0

1

1

7,998

0.06

0.79

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Grenada

0

0

0

0

1

1

10,340

0.04

0.61

Hancock

0

0

2

0

2

4

5,728

0.08

1.10

Harrison

0

0

1

0

6

7

11,242

0.04

0.56

Hinds

1

0

19

0

18

38

2,765

0.16

2.28

Holmes

0

0

0

0

0

0

 n/a

0.00

0.00

Humphreys

0

0

0

0

0

0

 n/a

0.00

0.00

Issaquena

0

0

0

0

0

0

 n/a

0.00

0.00

Itawamba

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

0

0

2

2

27,450

0.02

0.23

Jasper

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson Davis

0

0

0

0

0

0

 n/a

0.00

0.00

Jones

0

0

0

0

1

1

27,887

0.02

0.23

Kemper

0

0

0

0

0

0

 n/a

0.00

0.00

Lafayette

0

0

0

0

1

1

18,535

0.02

0.34

Lamar

0

0

0

0

1

1

16,627

0.03

0.38

Lauderdale

1

0

4

0

1

6

5,795

0.08

1.09

Lawrence

0

0

0

0

0

0

 n/a

0.00

0.00

Leake

0

0

2

0

0

2

4,474

0.10

1.41

Lee

1

0

3

0

2

6

5,526

0.08

1.14

Leflore

0

0

1

0

2

3

4,965

0.09

1.27

Lincoln

0

0

0

0

1

1

14,571

0.03

0.43

Lowndes

0

0

2

0

0

2

13,161

0.03

0.48

Madison

0

0

0

0

2

2

17,639

0.03

0.36

Marion

0

0

0

0

0

0

 n/a

0.00

0.00

Marshall

0

0

6

0

0

6

2,373

0.19

2.66

Monroe

0

0

1

0

0

1

16,729

0.03

0.38

Montgomery

0

0

0

0

0

0

 n/a

0.00

0.00

Neshoba

0

0

0

0

0

0

 n/a

0.00

0.00

Newton

0

0

0

0

0

0

 n/a

0.00

0.00

Noxubee

0

0

0

0

0

0

 n/a

0.00

0.00

Oktibbeha

0

0

0

0

2

2

9,819

0.05

0.64

Panola

0

0

0

0

0

0

 n/a

0.00

0.00

Pearl River

0

0

1

0

1

2

12,270

0.04

0.51

Perry

0

0

0

0

0

0

 n/a

0.00

0.00

Pike

0

0

0

0

0

0

 n/a

0.00

0.00

Pontotoc

0

0

1

0

1

2

5,695

0.08

1.11

Prentiss

0

0

0

0

0

0

 n/a

0.00

0.00

Quitman

0

0

0

0

1

1

3,968

0.11

1.59

Rankin

0

0

22

0

5

27

1,970

0.23

3.20

Scott

0

0

0

0

0

0

 n/a

0.00

0.00

Sharkey

0

0

0

0

0

0

 n/a

0.00

0.00

Simpson

0

0

1

0

1

2

5,811

0.08

1.08

Smith

0

0

0

0

0

0

 n/a

0.00

0.00

Stone

0

0

1

0

0

1

5,895

0.08

1.07

Sunflower

0

0

0

0

1

1

10,703

0.04

0.59

Tallahatchie

0

0

0

0

0

0

 n/a

0.00

0.00

Tate

0

0

1

0

0

1

10,578

0.04

0.60

Tippah

0

0

0

0

1

1

9,285

0.05

0.68

Tishomingo

0

0

0

0

0

0

 n/a

0.00

0.00

Tunica

0

0

0

0

0

0

 n/a

0.00

0.00

Union

0

0

1

0

1

2

5,561

0.08

1.13

Walthall

0

0

0

0

0

0

 n/a

0.00

0.00

Warren

0

0

1

0

2

3

7,106

0.06

0.89

Washington

0

0

11

0

0

11

2,277

0.20

2.77

Wayne

0

0

1

0

0

1

9,346

0.05

0.67

Webster

0

0

0

0

0

0

 n/a

0.00

0.00

Wilkinson

0

0

0

0

0

0

 n/a

0.00

0.00

Winston

0

0

0

0

0

0

 n/a

0.00

0.00

Yalobusha

0

0

0

0

0

0

 n/a

0.00

0.00

Yazoo

0

0

2

0

0

2

5,137

0.09

1.23

 

About RealtyTrac Inc.

Rankedas the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastestgrowing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosureproperties, providing all the resources that home seekers, investors and realestate agents need to locate, evaluate and buy properties below market value.

 

Foundedin 1996, RealtyTrac publishes the largest and most comprehensive nationaldatabase 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 hostsnearly 3 million unique visitors monthly and has been chosen to supplyforeclosure 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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