NEVADA FORECLOSURES DOWN 21 PERCENT IN APRIL

State Tops in Foreclosure Rate for Fourth Straight Month

 

IRVINE, Calif. – May 18, 2007 – Nevada foreclosure filings fell 21 percent from the previous month in April, with a total of 3,737 reported in the state during the month, according to the latest RealtyTrac® U.S. Foreclosure Market Report. However, with one foreclosure filing for every 232 households, the state posted the nation’s top foreclosure rate for the fourth consecutive month.

 

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.

 

“Despite this being the first monthly decline for Nevada foreclosures in 2007, the state total is still more than triple the level reported for April 2006,” said James J. Saccacio, chief executive officer of RealtyTrac. “The fact that the state has led the nation in foreclosure rate for the past four months now can be at least partially attributed to overbuilding, a depressed real estate market and excessive use of subprime mortgages.”

 

Ranked 13th in total foreclosure filings for April, the Silver State fell short of placing in the nation’s top 10 for total filings by fewer than 400 filings. California led the nation by a large margin, reporting more than 30,500 foreclosure filings for the month. Second place Florida reported more than 14,300 filings, and Ohio and Texas took third and fourth places respectively, both reporting totals above 11,400 filings for the month. The remainder of the nation’s top 10 included Illinois, Georgia, Michigan, Colorado, Connecticut and Arizona.

 

Nevada’s foreclosure rate for the month was 3.4 times the national average.

 

Clark County leads state in total foreclosures and foreclosure rate

Clark County led the state once again with the largest county foreclosure total for April, 3,343 foreclosure filings. The county also posted the state’s highest county foreclosure rate for the month — one foreclosure filing for every 179 households — 1.3 times the state average and 4.4 times the national average.

 

Washoe County tallied the second highest county total for the month, 277 foreclosure filings, while Nye County reported 59 foreclosure filings — the third highest county total.

 

Nye County posted the second highest county foreclosure rate in the state, one foreclosure filing for every 270 households — below the state average and 2.9 times the national average. Washoe County registered the state’s third highest foreclosure rate — one foreclosure filing for every 520 households — 1.5 times the national average.

 

Clark, Washoe and Nye counties combined accounted for 98 percent of all foreclosure filings in the state for April.

 

State makes significant contribution to national total

Total foreclosure filings in Nevada accounted for 3 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate was one foreclosure filing for every 783 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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.

 

 

                        Nevada Foreclosure Market by County – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Nevada

2,263

956

0

0

518

3,737

232

3.37

n/a

 

 

 

 

 

 

 

 

 

 

Carson City

14

0

0

0

2

16

1,330

0.59

0.17

Churchill

1

0

0

0

0

1

9,732

0.08

0.02

Clark

2,033

861

0

0

449

3,343

179

4.36

1.29

Douglas

5

2

0

0

0

7

2,715

0.29

0.09

Elko

6

1

0

0

1

8

2,307

0.34

0.10

Humboldt

1

2

0

0

0

3

2,318

0.34

0.10

Lyon

12

3

0

0

7

22

649

1.21

0.36

Nye

31

15

0

0

13

59

270

2.90

0.86

Pershing

1

0

0

0

0

1

2,389

0.33

0.10

Washoe

159

72

0

0

46

277

520

1.51

0.45

 

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 construction properties,

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

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved