NEW YORK CITY FORECLOSURES INCREASE 26 PERCENT

NEW YORK CITY FORECLOSURES INCREASE 26 PERCENT ACCORDING TO REALTYTRAC™ OCTOBER U.S. FORECLOSURE MARKET REPORT
New York State Foreclosures Up 42 Percent;City’s Foreclosure Rates Still Second Lowest Among Nation’s Top Five Metro Areas.

Irvine, Calif. – Novemeber 28, 2005 – New York foreclosures increased 26 percent in October, reversing a 27 percent drop the previous month, according to the RealtyTrac™ October U.S. Foreclosure Market Report. The city’s five boroughs recorded a total of 2,046 properties entering some stage of foreclosure, and the metro area’s foreclosure rate was closer to levels reported in July and August.

RealtyTrac publishes the largest national database of pre-foreclosure and foreclosure properties, with more than 550,000 properties in nearly 2,000 counties across the country, and is the foreclosure data provider to MSN House & Home, Yahoo! Real Estate, AOL Real Estate and HomeGain.com.

With one foreclosure for every 1,564 households in the five boroughs, New York City’s foreclosure rates stayed second lowest among the nation’s five largest metropolitan areas for the fifth consecutive month. Only Los Angeles reported a lower rate. Dallas-Fort Worth, Chicago and Philadelphia foreclosure rates were all higher.

“Although New York foreclosures have experienced some fairly big swings in the last couple months, the city has maintained a relatively low foreclosure rate compared to other major metro areas,” said James J. Saccacio, RealtyTrac chief executive officer. “Both New York State and New York City foreclosure rates continue to be well below national averages.”

New York’s five boroughs all reported more foreclosures in October, and only Manhattan maintained a foreclosure rate below the state average despite a 67 percent increase in foreclosures. Foreclosures in Brooklyn and Queens increased about 20 percent, and both boroughs recorded more than 700 properties entering some stage of foreclosure in October. Bronx County recorded 313 properties entering some stage of foreclosure, a 37 percent increase from the previous month.

With one foreclosure for every 749 households, Staten Island again reported the highest foreclosure rate among the five boroughs. The borough recorded 219 properties entering some stage of foreclosure in October, a 50 percent increase.

Suffolk and Nassau counties reported foreclosures increasing more than 90 percent in October, and both counties registered foreclosure rates above state and national averages. Suffolk County reported 517 properties entering some stage of foreclosure, and Nassau County reported 397 properties entering some stage of foreclosure.

New York state foreclosures increased 42 percent, with 3,546 properties entering some stage of foreclosure in October. But the state’s foreclosure rate of one foreclosure for every 2,166 households remained well below the national average of one foreclosure for every 1,422 households. Nationwide, foreclosures increased nearly 19 percent in October, with a total of 81,382 properties entering some stage of foreclosure. That was the most new foreclosures reported in any month year to date.

Foreclosure numbers in the nearby New Jersey counties of Bergen, Hudson, Essex and Union were higher than in previous months. With 1,082 properties entering some stage of foreclosure, Essex County reported the highest foreclosure rate among those counties — one foreclosure for every 278 households.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a graphical map that illustrates foreclosure percentiles by state (appended to this press release or available by request), as well as the total number of homes in some stage of foreclosure nationwide and by state over the preceding month. Data is also available at the individual county level. RealtyTrac’s report includes properties in all three phases of foreclosure: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been repurchased by a bank).

Below are foreclosure market statistics nationwide and by state:

State Name NODs NTSs NFSs LISs REOs Total %change
US 10/2005 21,824 31,832 1,947 8,526 17,253 81,382 18.55
Alabama 6 41 0 0 111 158 -11.73
Alaska 1 77 0 0 13 91 8.33
Arizona 106 1,713 0 0 116 1,935 -6.88
Arkansas 23 506 0 0 86 615 -34.99
California 3,854 663 0 0 162 4,679 -6.31
Colorado 1,728 144 0 0 696 2,568 -28.71
Connecticut 2,170 14 0 0 3 2,187 7,710.71
Delaware 2 2 0 0 2 6 -40.00
District of Columbia 0 1 0 0 7 8 -33.33
Florida 0 0 842 6,443 344 7,629 -16.92
Georgia 7 2,554 0 0 897 3,458 -11.85
Hawaii 24 16 0 0 3 43 -56.12
Idaho 56 102 0 0 19 177 3.51
Illinois 1,922 99 0 0 1,149 3,170 -20.29
Indiana 835 609 0 0 673 2,117 -13.87
Iowa 12 20 0 0 108 140 1.45
Kansas 12 6 0 0 81 99 -1.00
Kentucky 104 21 0 0 25 150 -10.71
Louisiana 15 46 0 0 189 250 25.00
Maine 2 1 0 0 0 3 -57.14
Maryland 4 296 0 0 138 438 -12.75
Massachusetts 53 790 0 0 7 850 4,373.68
Michigan 41 1,974 0 0 2,354 4,369 66.63
Minnesota 45 26 0 0 175 246 64.00
Mississippi 2 50 0 0 115 167 81.52
Missouri 23 72 0 0 871 966 2.66
Montana 1 75 0 0 28 104 -7.96
Nebraska 149 6 0 0 47 202 -42.29
Nevada 43 271 0 0 25 339 -40.42
New Hampshire 0 4 0 0 5 9 350.00
New Jersey 7,375 309 0 0 151 7,835 218.37
New Mexico 962 301 0 0 35 1,298 332.67
New York 1 0 1,105 2,083 357 3,546 42.24
North Carolina 28 184 0 0 948 1,160 27.61
North Dakota 0 1 0 0 3 4 -42.86
Ohio 160 2,145 0 0 2,395 4,700 -18.95
Oklahoma 265 393 0 0 247 905 -7.93
Oregon 159 235 0 0 59 453 -20.53
Pennsylvania 525 1,406 0 0 715 2,646 11.22
Rhode Island 0 1 0 0 0 1 0.00
South Carolina 32 74 0 0 407 513 51.33
South Dakota 0 0 0 0 3 3 -82.35
Tennessee 8 828 0 0 1,101 1,846 -14.26
Texas 88 14,367 0 0 1,931 16,386 68.30
Utah 654 33 0 0 258 945 2.72
Vermont 2 1 0 0 4 7 250.00
Virginia 3 214 0 0 93 310 37.78
Washington 24 892 0 0 85 1,001 1.62
West Virginia 0 71 0 0 0 71 -30.39
Wisconsin 298 172 0 0 60 530 3.92
Wyoming 0 2 0 0 14 16 -27.27

About RealtyTrac Inc.
Ranked as the fourth-largest real estate site by Nielsen Net Ratings, 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 and For Sale By Owner properties, with more than 550,000 properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts close to two million unique visitors monthly and is the exclusive foreclosure data supplier to MSN House & Home, Yahoo! Real Estate and HomeGain as well as the foreclosure data provider to AOL Real Estate. 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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