NORTH CAROLINA FORECLOSURES DOWN 2 PERCENT IN OCTOBER

State Activity Level Up 41 Percent From a Year Ago

 

IRVINE, Calif. – Nov. 10, 2006 – North Carolina reported 1,635 properties entering some stage of the foreclosure process in October, a 2 percent decrease from the 1,665 properties reported in September, but a 41 percent increase from the 1,160 properties reported for the same month last year, according to the RealtyTrac™ October 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 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.

 

“Although foreclosures in North Carolina are above where they were this time last year, the numbers have been at least 30 percent lower during quarters two and three than they were during the first quarter of 2006,” said James J. Saccacio, chief executive officer of RealtyTrac.  “Statistics show that while home sales are decreasing nationally, they are increasing throughout this state. This, in addition to solid employment growth, are likely driving foreclosures downward.”

 

North Carolina ranked 17th in the country in total foreclosures reported for October. The state’s foreclosure rate of one new foreclosure filing for every 2,153 households — half of the national average — ranks it 26th among the 50 states.

 

Mecklenburg County leads state in foreclosure activity

Mecklenburg County tallied the largest number of foreclosures in North Carolina in October, reporting 367 properties entering some stage of the foreclosure process. Wake County had the second highest total, reporting 178 properties in some stage of the foreclosure process, followed by Gaston County with 109 properties entering the foreclosure pipeline. 

 

Davie County posts state’s top foreclosure rate

Davie County posted the top foreclosure rate in the state for October, reporting one new foreclosure filing for every 712 households — three times the state average and 1.4 times the national average. Gaston County had the second highest rate, reporting one new foreclosure filing for every 723 households — three times the state average and 1.4 times the national average. Franklin County reported the third highest total with one new foreclosure filing for every 754 households — 2.9 times the state average and 1.3 times the national average.

 

State has minor impact on national total

North Carolina’s foreclosure activity accounted for little more than 1 percent of the 115,568 properties entering some stage of foreclosure nationwide in October. The national total represents a 3 percent increase from the 112,210 foreclosures reported in September. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,001 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: 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 foreclosed on and repurchased by a bank).

 

     North Carolina Foreclosure Market by County – October 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,731

42,375

5,799

18,895

20,768

115,568

1,001

n/a

n/a

North Carolina

588

96

0

0

951

1,635

2,153

0.47

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

18

1

0

0

21

40

1,387

0.72

1.55

Alexander

0

0

0

0

3

3

4,699

0.21

0.46

Alleghany

0

0

0

0

0

0

n/a

0.00

0.00

Anson

1

2

0

0

4

7

1,460

0.69

1.47

Ashe

0

0

0

0

1

1

13,268

0.08

0.16

Avery

0

0

0

0

0

0

n/a

0.00

0.00

Beaufort

0

0

0

0

0

0

n/a

0.00

0.00

Bladen

0

0

0

0

1

1

15,316

0.07

0.14

Brunswick

0

0

0

0

5

5

10,286

0.10

0.21

Buncombe

20

0

0

0

17

37

2,540

0.39

0.85

Burke

0

0

0

0

0

0

n/a

0.00

0.00

Cabarrus

0

3

0

0

24

27

1,957

0.51

1.10

Caldwell

17

0

0

0

9

26

1,286

0.78

1.67

Camden

0

0

0

0

0

0

n/a

0.00

0.00

Carteret

1

1

0

0

2

4

10,237

0.10

0.21

Caswell

0

0

0

0

3

3

3,200

0.31

0.67

Catawba

0

1

0

0

49

50

1,198

0.83

1.80

Chatham

3

0

0

0

3

6

3,560

0.28

0.60

Cherokee

0

1

0

0

1

2

6,750

0.15

0.32

Clay

0

0

0

0

0

0

n/a

0.00

0.00

Cleveland

3

2

0

0

4

9

4,480

0.22

0.48

Columbus

0

1

0

0

8

9

2,673

0.37

0.81

Craven

6

1

0

0

4

11

3,468

0.29

0.62

Cumberland

0

2

0

0

37

39

3,037

0.33

0.71

Currituck

0

0

0

0

0

0

n/a

0.00

0.00

Dare

0

0

0

0

0

0

n/a

0.00

0.00

Davidson

0

0

0

0

0

0

n/a

0.00

0.00

Davie

0

2

0

0

19

21

712

1.41

3.02

Duplin

5

1

0

0

0

6

3,420

0.29

0.63

Durham

45

4

0

0

46

95

1,005

1.00

2.14

Edgecombe

0

1

0

0

0

1

24,002

0.04

0.09

Forsyth

0

7

0

0

64

71

1,875

0.53

1.15

Franklin

16

0

0

0

11

27

754

1.33

2.85

Gaston

60

1

0

0

48

109

723

1.38

2.98

Gates

0

0

0

0

0

0

n/a

0.00

0.00

Granville

0

3

0

0

0

3

5,965

0.17

0.36

Greene

1

1

0

0

0

2

3,684

0.27

0.58

Guilford

2

8

0

0

64

74

2,438

0.41

0.88

Halifax

0

0

0

0

6

6

4,218

0.24

0.51

Harnett

14

2

0

0

12

28

1,379

0.73

1.56

Haywood

0

0

0

0

7

7

4,091

0.24

0.53

Henderson

0

1

0

0

0

1

42,996

0.02

0.05

Hertford

0

1

0

0

1

2

4,862

0.21

0.44

Hoke

1

0

0

0

0

1

12,518

0.08

0.17

Iredell

2

2

0

0

16

20

2,596

0.39

0.83

Jackson

2

1

0

0

1

4

4,823

0.21

0.45

Johnston

29

1

0

0

31

61

823

1.22

2.62

Jones

0

2

0

0

0

2

2,340

0.43

0.92

Lee

1

1

0

0

9

11

1,810

0.55

1.19

Lenoir

0

0

0

0

0

0

n/a

0.00

0.00

Lincoln

1

0

0

0

17

18

1,429

0.70

1.51

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

3

0

0

0

3

6

1,620

0.62

1.33

Martin

0

0

0

0

0

0

n/a

0.00

0.00

McDowell

0

0

0

0

0

0

n/a

0.00

0.00

Mecklenburg

188

22

0

0

157

367

798

1.25

2.70

Mitchell

0

0

0

0

2

2

3,960

0.25

0.54

Montgomery

0

0

0

0

0

0

n/a

0.00

0.00

Moore

4

0

0

0

3

7

5,022

0.20

0.43

Nash

19

0

0

0

7

26

1,425

0.70

1.51

New Hanover

4

0

0

0

3

7

11,374

0.09

0.19

Northampton

0

0

0

0

1

1

10,455

0.10

0.21

Onslow

0

1

0

0

0

1

55,726

0.02

0.04

Orange

2

0

0

0

0

2

24,645

0.04

0.09

Pamlico

0

0

0

0

0

0

n/a

0.00

0.00

Pasquotank

0

0

0

0

1

1

14,289

0.07

0.15

Pender

3

0

0

0

7

10

2,080

0.48

1.04

Perquimans

0

0

0

0

0

0

n/a

0.00

0.00

Person

0

0

0

0

0

0

n/a

0.00

0.00

Pitt

0

1

0

0

0

1

58,408

0.02

0.04

Polk

0

0

0

0

2

2

4,596

0.22

0.47

Randolph

1

1

0

0

15

17

3,202

0.31

0.67

Richmond

0

0

0

0

3

3

6,629

0.15

0.32

Robeson

0

0

0

0

0

0

n/a

0.00

0.00

Rockingham

0

1

0

0

0

1

40,208

0.02

0.05

Rowan

0

0

0

0

24

24

2,249

0.44

0.96

Rutherford

6

0

0

0

6

12

2,461

0.41

0.87

Sampson

0

1

0

0

0

1

25,142

0.04

0.09

Scotland

0

0

0

0

2

2

7,347

0.14

0.29

Stanly

0

2

0

0

1

3

8,194

0.12

0.26

Stokes

0

0

0

0

11

11

1,751

0.57

1.23

Surry

0

0

0

0

0

0

n/a

0.00

0.00

Swain

0

0

0

0

1

1

7,105

0.14

0.30

Transylvania

0

0

0

0

0

0

n/a

0.00

0.00

Union

0

1

0

0

32

33

1,385

0.72

1.55

Vance

2

3

0

0

6

11

1,654

0.60

1.30

Wake

90

6

0

0

82

178

1,455

0.69

1.48

Washington

0

0

0

0

1

1

6,174

0.16

0.35

Watauga

1

1

0

0

1

3

7,718

0.13

0.28

Wayne

16

1

0

0

22

39

1,213

0.82

1.77

Wilkes

0

0

0

0

0

0

n/a

0.00

0.00

Wilson

1

0

0

0

5

6

5,122

0.20

0.42

Yadkin

0

1

0

0

5

6

2,637

0.38

0.82

Yancey

0

0

0

0

0

0

n/a

0.00

0.00

 

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 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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