NORTH CAROLINA FORECLOSURE ACTIVITY DOWN 3 PERCENT IN SEPTEMBER

Yearly Total Up 103 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – North Carolina reported 3,380 foreclosure filings in September, a 3 percent decrease from the previous month, but still a 103 percent increase from September 2006, 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.

 

“Although North Carolina foreclosures have decreased slightly in September, the numbers have more than doubled since this time last year, said James J. Saccacio, chief executive officer of RealtyTrac. “North Carolina’s unemployment rate currently is above the national average. This is likely contributing to the overall rise.”

 

North Carolina ranked 17th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 1,166 households ranked it 23rd among the 50 states.

 

Mecklenburg County reports biggest foreclosure total

Mecklenburg County documented the highest foreclosure total, with 785 foreclosure filings in September. Wake County posted the second highest foreclosure total, reporting 389 foreclosure filings for the month. Guilford County documented the third highest foreclosure total, with 205 foreclosure filings. Durham County reported the fourth highest foreclosure total, with 185 foreclosure filings.

 

Pasquotank County leads state in foreclosure rate

Pasquotank County reported the highest foreclosure rate in North Carolina for September, with one foreclosure filing for every 290 households — four times the state average and 1.9 times the national average. Mecklenburg County posted the second highest foreclosure rate, with one foreclosure filing for every 455 households — 2.6 times the state average. Union County posted the third highest foreclosure rate, with one filing for every 457 households — 2.6 times the state average. Franklin County posted the fourth highest foreclosure rate, with one foreclosure filing for every 494 households — 2.4 times the state average. Davidson County documented the fourth the highest foreclosure rate, with one foreclosure filing for every 527 households — 2.2 times the state average.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in North Carolina accounted for 1 percent of the 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 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.

 

 

                   North Carolina Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

North Carolina

2,313

122

0

0

945

3,380

1,166

0.48

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

61

2

0

0

12

75

814

0.68

1.43

Alexander

3

0

0

0

1

4

3,754

0.15

0.31

Alleghany

0

0

0

0

2

2

3,478

0.16

0.33

Anson

3

0

0

0

1

4

2,620

0.21

0.44

Ashe

1

1

0

0

2

4

3,664

0.15

0.31

Avery

4

0

0

0

2

6

2,154

0.26

0.54

Beaufort

0

0

0

0

0

0

n/a

0.00

0.00

Bertie

0

1

0

0

5

6

1,551

0.36

0.75

Bladen

1

0

0

0

2

3

5,279

0.11

0.22

Brunswick

14

1

0

0

6

21

3,078

0.18

0.37

Buncombe

36

1

0

0

9

46

2,245

0.25

0.51

Burke

0

0

0

0

0

0

n/a

0.00

0.00

Cabarrus

34

1

0

0

12

47

1,332

0.42

0.87

Caldwell

37

2

0

0

14

53

669

0.83

1.74

Camden

0

0

0

0

1

1

3,586

0.16

0.32

Carteret

14

0

0

0

0

14

3,151

0.18

0.37

Caswell

3

3

0

0

2

8

1,264

0.44

0.92

Catawba

19

2

0

0

19

40

1,643

0.34

0.71

Chatham

3

1

0

0

4

8

3,042

0.18

0.38

Cherokee

1

1

0

0

0

2

7,664

0.07

0.15

Chowan

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

Cleveland

24

3

0

0

22

49

865

0.64

1.34

Columbus

0

0

0

0

3

3

8,228

0.07

0.14

Craven

15

0

0

0

2

17

2,484

0.22

0.46

Cumberland

62

7

0

0

42

111

1,156

0.48

1.00

Currituck

1

0

0

0

0

1

13,119

0.04

0.08

Dare

0

0

0

0

0

0

n/a

0.00

0.00

Davidson

84

2

0

0

41

127

527

1.06

2.21

Davie

1

0

0

0

2

3

5,555

0.10

0.21

Duplin

1

1

0

0

0

2

10,650

0.05

0.10

Durham

145

5

0

0

35

185

599

0.93

1.94

Edgecombe

0

2

0

0

1

3

8,346

0.07

0.14

Forsyth

128

4

0

0

47

179

820

0.68

1.42

Franklin

14

1

0

0

31

46

494

1.13

2.35

Gaston

87

8

0

0

33

128

662

0.84

1.76

Gates

3

0

0

0

2

5

901

0.62

1.29

Graham

0

0

0

0

0

0

n/a

0.00

0.00

Granville

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Guilford

130

14

0

0

61

205

979

0.57

1.19

Halifax

7

0

0

0

3

10

2,590

0.22

0.45

Harnett

32

2

0

0

27

61

704

0.79

1.65

Haywood

7

2

0

0

4

13

2,376

0.23

0.49

Henderson

1

0

0

0

2

3

15,927

0.03

0.07

Hertford

5

0

0

0

3

8

1,241

0.45

0.93

Hoke

0

0

0

0

0

0

n/a

0.00

0.00

Hyde

2

0

0

0

0

2

1,703

0.33

0.68

Iredell

37

1

0

0

20

58

1,071

0.52

1.08

Jackson

1

1

0

0

0

2

11,152

0.05

0.10

Johnston

49

1

0

0

18

68

863

0.65

1.35

Jones

1

1

0

0

3

5

947

0.59

1.23

Lee

7

0

0

0

4

11

1,960

0.28

0.59

Lenoir

0

0

0

0

0

0

n/a

0.00

0.00

Lincoln

18

2

0

0

1

21

1,406

0.40

0.82

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

1

0

0

0

2

3

3,484

0.16

0.33

Martin

1

0

0

0

8

9

1,236

0.45

0.94

McDowell

2

0

0

0

1

3

6,440

0.09

0.18

Mecklenburg

596

20

0

0

169

785

455

1.22

2.56

Mitchell

1

0

0

0

0

1

8,218

0.07

0.14

Montgomery

0

1

0

0

2

3

4,895

0.11

0.23

Moore

5

2

0

0

6

13

2,992

0.19

0.39

Nash

15

0

0

0

10

25

1,601

0.35

0.72

New Hanover

28

2

0

0

2

32

2,896

0.19

0.40

Northampton

0

0

0

0

0

0

n/a

0.00

0.00

Onslow

1

1

0

0

1

3

20,672

0.03

0.05

Orange

0

0

0

0

1

1

53,494

0.01

0.02

Pamlico

1

0

0

0

1

2

3,572

0.16

0.32

Pasquotank

32

0

0

0

21

53

290

1.92

4.02

Pender

3

0

0

0

4

7

3,358

0.17

0.34

Perquimans

0

0

0

0

0

0

n/a

0.00

0.00

Person

0

1

0

0

0

1

16,622

0.03

0.07

Pitt

0

1

0

0

0

1

67,726

0.01

0.01

Polk

0

0

0

0

0

0

n/a

0.00

0.00

Randolph

22

0

0

0

20

42

1,391

0.40

0.83

Richmond

0

0

0

0

3

3

7,112

0.08

0.16

Robeson

0

2

0

0

1

3

16,546

0.03

0.07

Rockingham

0

0

0

0

5

5

8,423

0.07

0.13

Rowan

22

2

0

0

26

50

1,157

0.48

1.00

Rutherford

7

0

0

0

8

15

2,074

0.27

0.56

Sampson

1

1

0

0

7

9

2,887

0.19

0.40

Scotland

3

0

0

0

8

11

1,384

0.40

0.84

Stanly

2

0

0

0

1

3

8,808

0.06

0.13

Stokes

11

0

0

0

4

15

1,345

0.41

0.86

Surry

0

0

0

0

2

2

16,079

0.03

0.07

Swain

0

0

0

0

8

8

978

0.57

1.19

Transylvania

0

1

0

0

0

1

16,788

0.03

0.06

Tyrrell

0

0

0

0

0

0

n/a

0.00

0.00

Union

99

2

0

0

30

131

457

1.22

2.54

Vance

4

1

0

0

4

9

2,098

0.27

0.55

Wake

323

9

0

0

57

389

808

0.69

1.44

Warren

0

0

0

0

0

0

n/a

0.00

0.00

Washington

3

1

0

0

1

5

1,247

0.45

0.93

Watauga

4

0

0

0

1

5

5,199

0.11

0.22

Wayne

21

1

0

0

11

33

1,512

0.37

0.77

Wilkes

1

0

0

0

4

5

6,096

0.09

0.19

Wilson

5

0

0

0

8

13

2,552

0.22

0.45

Yadkin

2

0

0

0

1

3

5,514

0.10

0.21

Yancey

1

1

0

0

6

8

1,288

0.43

0.90

 

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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