MONTANA FORECLOSURE ACTIVITY DOWN 40 PERCENT IN JANUARY

Yearly Foreclosure Total Down 17 Percent From January 2007

 

IRVINE, Calif. – Feb. 26, 2008 – Montana reported 90 foreclosure filings in January, a 40 percent decrease from the previous month, and a 17 percent decrease from January 2007, 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.

 

Montana foreclosures are down both in January and 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 more than four times the national average last year. This, in addition to a low unemployment rate, is likely contributing to the overall decline.”

 

Montana ranked 45th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 4,760 households ranked it 44th among the 50 states.

 

Missoula County posts highest foreclosure total

Missoula County reported 20 foreclosure filings, the most of any county in Montana for January. Yellowstone County posted the second highest foreclosure total, reporting 17 foreclosure filings for the month, followed by Cascade County and Ravalli County, each with 12 foreclosure filings.

 

Golden Valley County reports highest foreclosure rate

Golden Valley County reported the highest county foreclosure rate in the state for January, one foreclosure filing for every 449 households — 10.6 times the state average. Lewis and Clark County registered the second highest foreclosure rate, one foreclosure filing for every 1,070 households — 4.4 times the state average. Ravalli County posted the third highest foreclosure rate, one filing for every 1,365 households — 3.5 times the state average.

 

State contributes less than 1 percent to nation’s monthly total

Total foreclosure filings in Montana accounted for less than 1 percent of the 233,001 foreclosure filings reported nationwide in January. The national total represents an 8 percent increase from the previous month, and is 57 percent above the total reported for January 2007. The nation’s foreclosure rate increased to one foreclosure filing for every 534 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.

 

 

Montana Foreclosure Market by County – January 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

52,321

60,101

19,662

55,590

45,327

233,001

534

n/a

n/a

Montana

0

85

0

0

5

90

4,760

0.11

n/a

 

 

 

 

 

 

 

 

 

 

Beaverhead

0

0

0

0

0

0

n/a

0.00

0.00

Big Horn

0

0

0

0

0

0

n/a

0.00

0.00

Blaine

0

0

0

0

0

0

n/a

0.00

0.00

Broadwater

0

0

0

0

0

0

n/a

0.00

0.00

Carbon

0

0

0

0

0

0

n/a

0.00

0.00

Carter

0

0

0

0

0

0

n/a

0.00

0.00

Cascade

0

11

0

0

1

12

2,976

0.18

1.60

Chouteau

0

0

0

0

0

0

n/a

0.00

0.00

Custer

0

1

0

0

0

1

5,343

0.10

0.89

Daniels

0

0

0

0

0

0

n/a

0.00

0.00

Dawson

0

1

0

0

2

3

1,384

0.03

0.39

Deer Lodge

0

0

0

0

0

0

n/a

0.00

0.00

Fallon

0

0

0

0

0

0

n/a

0.00

0.00

Fergus

0

4

0

0

0

4

1,390

0.38

3.43

Flathead

0

3

0

0

0

3

12,225

0.04

0.39

Gallatin

0

3

0

0

0

3

11,366

0.05

0.42

Garfield

0

0

0

0

0

0

n/a

0.00

0.00

Glacier

0

0

0

0

0

0

n/a

0.00

0.00

Golden Valley

0

1

0

0

0

1

449

1.19

10.60

Granite

0

0

0

0

0

0

n/a

0.00

0.00

Hill

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

Judith Basin

0

0

0

0

0

0

n/a

0.00

0.00

Lake

0

3

0

0

0

3

4,643

0.12

1.03

Lewis and Clark

0

8

0

0

0

8

3,271

0.16

1.46

Liberty

0

1

0

0

0

1

1,070

0.50

4.45

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

0

0

0

0

0

n/a

0.00

0.00

McCone

0

0

0

0

0

0

n/a

0.00

0.00

Meagher

0

0

0

0

0

0

n/a

0.00

0.00

Mineral

0

1

0

0

0

1

1,988

0.27

2.39

Missoula

0

20

0

0

0

20

2,242

0.24

2.12

Musselshell

0

0

0

0

0

0

n/a

0.00

0.00

Park

0

0

0

0

0

0

n/a

0.00

0.00

Petroleum

0

0

0

0

0

0

n/a

0.00

0.00

Phillips

0

0

0

0

0

0

n/a

0.00

0.00

Pondera

0

0

0

0

0

0

n/a

0.00

0.00

Powder River

0

0

0

0

0

0

n/a

0.00

0.00

Powell

0

0

0

0

0

0

n/a

0.00

0.00

Prairie

0

0

0

0

0

0

n/a

0.00

0.00

Ravalli

0

10

0

0

2

12

1,365

0.39

3.49

Richland

0

0

0

0

0

0

n/a

0.00

0.00

Roosevelt

0

0

0

0

0

0

n/a

0.00

0.00

Rosebud

0

0

0

0

0

0

n/a

0.00

0.00

Sanders

0

0

0

0

0

0

n/a

0.00

0.00

Sheridan

0

0

0

0

0

0

n/a

0.00

0.00

Silver Bow

0

0

0

0

0

0

n/a

0.00

0.00

Stillwater

0

1

0

0

0

1

4,028

0.13

1.18

Sweet Grass

0

0

0

0

0

0

n/a

0.00

0.00

Teton

0

0

0

0

0

0

n/a

0.00

0.00

Toole

0

0

0

0

0

0

n/a

0.00

0.00

Treasure

0

0

0

0

0

0

n/a

0.00

0.00

Valley

0

0

0

0

0

0

n/a

0.00

0.00

Wheatland

0

0

0

0

0

0

n/a

0.00

0.00

Wibaux

0

0

0

0

0

0

n/a

0.00

0.00

Yellowstone

0

17

0

0

0

17

3,396

0.16

1.40

 

 

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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