NORTH CAROLINA FORECLOSURE ACTIVITY UP 20 PERCENT IN FEBRUARY

Yearly Foreclosure Activity Up 20 Percent From February 2007

 

IRVINE, Calif. – March 26, 2008 – North Carolina reported 4,052 properties with foreclosure filings for February 2008, a 20 percent increase from the previous month, and a 20 percent increase from February 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.

 

North Carolina foreclosures are up both in February and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although currently on par with the national average, the state’s unemployment rate rose significantly during the past year. This may be contributing to the overall rise.”

North Carolina ranked 16th in the country in total properties with foreclosure filings reported in February. One in every 972 North Carolina households received a foreclosure filing in February, ranking North Carolina 24th among the 50 states.

 

Mecklenburg County accounts for bulk of state activity

Mecklenburg County reported 911 properties with foreclosure filings, the most of any county for the month. Guilford County was second, reporting 400 properties with foreclosure filings for the month. Wake County reported 356 properties with foreclosure filings. Durham County came in fourth, reporting 207 properties with foreclosure filings, followed by Gaston County with 169 properties with foreclosure filings.

 

Pasquotank County posts highest foreclosure rate

Pasquotank County reported the highest foreclosure rate in North Carolina for February, one in every 384 households receiving a foreclosure filing — 2.5 times the state average. Mecklenburg County posted the second highest foreclosure rate, one in every 392 households receiving a foreclosure filing — 2.5 times the state average. Franklin County registered the third highest foreclosure rate, one in every 421 households receiving a foreclosure filing — 2.3 times the state average. Guilford County reported a foreclosure rate of one in every 500 households receiving a foreclosure filing — twice the state average.

 

State contributes 2 percent to nation’s monthly total

Total foreclosure filings in North Carolina accounted for 2 percent of the 223,651 foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, and is 60 percent above the total reported for February 2007. One in every 557 U.S. households received a foreclosure filing during 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 – February 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

North Carolina

2,927

116

0

0

1,009

4,052

972

0.57

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

64

2

0

0

27

93

656

0.85

1.48

Alexander

9

0

0

0

2

11

1,365

0.41

0.71

Alleghany

3

0

0

0

2

5

1,391

0.40

0.70

Anson

5

0

0

0

3

8

1,310

0.43

0.74

Ashe

1

0

0

0

1

2

7,329

0.08

0.13

Avery

0

0

0

0

1

1

12,926

0.04

0.08

Beaufort

0

0

0

0

0

0

 n/a

0.00

0.00

Bertie

1

0

0

0

5

6

1,551

0.36

0.63

Bladen

1

0

0

0

2

3

5,279

0.11

0.18

Brunswick

39

0

0

0

9

48

1,347

0.41

0.72

Buncombe

49

5

0

0

16

70

1,475

0.38

0.66

Burke

0

0

0

0

1

1

38,922

0.01

0.02

Cabarrus

45

3

0

0

7

55

1,139

0.49

0.85

Caldwell

27

1

0

0

11

39

909

0.61

1.07

Camden

0

0

0

0

0

0

 n/a

0.00

0.00

Carteret

21

0

0

0

1

22

2,010

0.28

0.48

Caswell

3

0

0

0

4

7

1,444

0.39

0.67

Catawba

30

0

0

0

33

63

1,043

0.53

0.93

Chatham

10

0

0

0

4

14

1,739

0.32

0.56

Cherokee

5

0

0

0

3

8

1,916

0.29

0.51

Chowan

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

2

0

0

0

0

2

3,128

0.18

0.31

Cleveland

19

4

0

0

26

49

865

0.64

1.12

Columbus

7

1

0

0

4

12

2,057

0.27

0.47

Craven

12

0

0

0

4

16

2,639

0.21

0.37

Cumberland

91

5

0

0

29

125

1,030

0.54

0.94

Currituck

6

0

0

0

1

7

1,874

0.30

0.52

Dare

4

0

0

0

17

21

1,489

0.37

0.65

Davidson

42

6

0

0

17

65

1,029

0.54

0.94

Davie

0

0

0

0

0

0

 n/a

0.00

0.00

Duplin

3

0

0

0

3

6

3,550

0.16

0.27

Durham

152

4

0

0

51

207

535

1.04

1.82

Edgecombe

2

2

0

0

0

4

6,260

0.09

0.16

Forsyth

116

8

0

0

44

168

874

0.64

1.11

Franklin

22

1

0

0

31

54

421

1.32

2.31

Gaston

150

3

0

0

16

169

502

1.11

1.94

Gates

0

1

0

0

0

1

4,506

0.12

0.22

Graham

0

0

0

0

0

0

 n/a

0.00

0.00

Granville

5

0

0

0

0

5

4,080

0.14

0.24

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Guilford

290

18

0

0

92

400

500

1.11

1.95

Halifax

6

0

0

0

6

12

2,158

0.26

0.45

Harnett

29

1

0

0

23

53

810

0.69

1.20

Haywood

6

0

0

0

6

12

2,574

0.22

0.38

Henderson

4

1

0

0

5

10

4,778

0.12

0.20

Hertford

0

1

0

0

1

2

4,966

0.11

0.20

Hoke

4

0

0

0

4

8

1,834

0.30

0.53

Hyde

0

0

0

0

0

0

 n/a

0.00

0.00

Iredell

53

0

0

0

22

75

828

0.67

1.17

Jackson

4

0

0

0

2

6

3,717

0.15

0.26

Johnston

47

5

0

0

23

75

782

0.71

1.24

Jones

0

0

0

0

1

1

4,736

0.12

0.21

Lee

6

0

0

0

5

11

1,960

0.28

0.50

Lenoir

0

1

0

0

0

1

27,972

0.02

0.03

Lincoln

29

1

0

0

10

40

738

0.75

1.32

Macon

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

3

0

0

0

0

3

3,708

0.15

0.26

Martin

3

0

0

0

8

11

1,756

0.32

0.55

McDowell

4

0

0

0

3

7

3,221

0.17

0.30

Mecklenburg

756

18

0

0

137

911

392

1.42

2.48

Mitchell

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

0

0

0

0

5

5

2,937

0.19

0.33

Moore

3

0

0

0

4

7

5,556

0.10

0.18

Nash

12

2

0

0

3

17

2,355

0.24

0.41

New Hanover

52

0

0

0

12

64

1,448

0.38

0.67

Northampton

0

0

0

0

1

1

10,727

0.05

0.09

Onslow

0

1

0

0

0

1

62,017

0.01

0.02

Orange

23

0

0

0

9

32

1,672

0.33

0.58

Pamlico

0

0

0

0

0

0

 n/a

0.00

0.00

Pasquotank

24

0

0

0

16

40

384

1.45

2.53

Pender

15

1

0

0

8

24

980

0.57

0.99

Perquimans

0

0

0

0

0

0

 n/a

0.00

0.00

Person

6

0

0

0

8

14

1,187

0.47

0.82

Pitt

0

1

0

0

2

3

22,575

0.02

0.04

Polk

1

0

0

0

0

1

10,014

0.06

0.10

Randolph

33

1

0

0

9

43

1,359

0.41

0.72

Richmond

2

0

0

0

1

3

7,112

0.08

0.14

Robeson

6

1

0

0

0

7

7,091

0.08

0.14

Rockingham

40

1

0

0

15

56

752

0.74

1.29

Rowan

24

0

0

0

31

55

1,052

0.53

0.92

Rutherford

9

0

0

0

6

15

2,074

0.27

0.47

Sampson

4

1

0

0

11

16

1,624

0.34

0.60

Scotland

0

0

0

0

5

5

3,044

0.18

0.32

Stanly

18

0

0

0

4

22

1,201

0.46

0.81

Stokes

28

0

0

0

7

35

576

0.97

1.69

Surry

0

0

0

0

0

0

 n/a

0.00

0.00

Swain

1

0

0

0

0

1

7,823

0.07

0.12

Transylvania

1

0

0

0

0

1

16,788

0.03

0.06

Tyrrell

0

0

0

0

0

0

 n/a

0.00

0.00

Union

72

4

0

0

22

98

611

0.91

1.59

Vance

5

0

0

0

9

14

1,349

0.41

0.72

Wake

307

7

0

0

42

356

883

0.63

1.10

Warren

0

0

0

0

0

0

 n/a

0.00

0.00

Washington

2

1

0

0

2

5

1,247

0.45

0.78

Watauga

2

0

0

0

3

5

5,199

0.11

0.19

Wayne

30

1

0

0

12

43

1,160

0.48

0.84

Wilkes

12

0

0

0

27

39

781

0.71

1.24

Wilson

3

1

0

0

11

15

2,212

0.25

0.44

Yadkin

1

1

0

0

1

3

5,514

0.10

0.18

Yancey

1

0

0

0

0

1

10,307

0.05

0.09

               

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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