NEW HAMPSHIRE FORECLOSURE ACTIVITY DOWN 36 PERCENT IN MARCH

Statewide Foreclosure Filings Up 260 Percent From March 2007

 

IRVINE, Calif. – April 30, 2008 – New Hampshire reported 414 properties with foreclosure filings in March, a 36 percent decrease from the previous month, but still a 260 percent increase from March 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.

 

New Hampshire foreclosures are up significantly from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home price appreciate rate was nearly two times lower than the national average in 2007. This has likely contributed to the overall increase.”

 

New Hampshire ranked 36th in the country in total foreclosures reported for the month. With one in every 1,425 households receiving a foreclosure filing, New Hampshire’s foreclosure rate ranked 28th among the 50 states.

 

Top four counties responsible for bulk of state’s foreclosure activity

Four New Hampshire counties accounted for 79 percent of all foreclosure activity in the state for March. Hillsborough County reported the highest foreclosure total, reporting 133 properties with foreclosure filings. Rockingham County came in second, documenting 98 properties with foreclosure filings. Merrimack County reported the third highest foreclosure total, reporting 54 properties with foreclosure filings. Strafford County posted the fourth highest foreclosure total, where 42 properties with foreclosure filings were reported.

 

Merrimack County posts top foreclosure rate for March

Merrimack County tallied the highest county foreclosure rate in New Hampshire in March, with one in every 1,135 households receiving a foreclosure filing for the month. Strafford County posted the state’s second highest foreclosure rate, with one in every 1,183 households receiving a foreclosure filing during the month. Hillsborough County posted the third highest foreclosure rate in the state, where one in every 1,210 households received a foreclosure filing in March.

 

State accounts for less than 1 percent of nation’s total in March

Total foreclosure filings in New Hampshire accounted for less than 1 percent of the 234,685 properties with foreclosure filings reported nationwide in March. The national total represents a 5 percent increase from the previous month and is 57 percent ahead of the total reported for March 2007. One in every 538 U.S. households received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

                  New Hampshire Foreclosure Market by County – March 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,493

47,677

55,398

23,724

51,393

234,685

538

n/a

n/a

New Hampshire

0

0

244

0

170

414

1,425

0.38

n/a

 

 

 

 

 

 

 

 

 

 

Belknap

0

0

12

0

12

24

1,469

0.37

0.97

Carroll

0

0

8

0

0

8

4,768

0.11

0.30

Cheshire

0

0

17

0

7

24

1,399

0.38

1.02

Coos

0

0

8

0

6

14

1,432

0.38

0.99

Grafton

0

0

6

0

0

6

7,776

0.07

0.18

Hillsborough

0

0

81

0

52

133

1,210

0.44

1.18

Merrimack

0

0

22

0

32

54

1,135

0.47

1.26

Rockingham

0

0

60

0

38

98

1,254

0.43

1.14

Strafford

0

0

23

0

19

42

1,183

0.45

1.20

Sullivan

0

0

7

0

4

11

1,948

0.28

0.73

           

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).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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