NORTH DAKOTA FORECLOSURE ACTIVITY DOWN 4 PERCENT IN FEBRUARY

Yearly Foreclosure Activity Up 22 Percent From February 2007

 

IRVINE, Calif. – March 26, 2008 – North Dakota reported 22 properties with foreclosure filings for February 2008, a 4 percent decrease in activity from the previous month, but is still 22 percent above the level reported for 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.

 

“Employment within North Dakota has improved slightly, possibly contributing to the state’s slight decrease in foreclosures,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, foreclosure activity remains high compared to the same time last year.

 

North Dakota ranked 49th in the country in total properties with foreclosure filings reported for February. One in every 13,839 North Dakota households received a foreclosure filing during the month, ranking the state 48th among the 50 states.

 

Cass County leads state in foreclosure activity

Cass County led the state in foreclosure activity in February, reporting nine properties with foreclosure filings. Grand Forks County documented the second highest foreclosure total, reporting four properties with foreclosure filings for the month, while third place Ward County reported two properties with foreclosure filings.

 

McIntosh County posts highest foreclosure rate

McIntosh County led the way with a foreclosure rate of one in every 1,866 households receiving a foreclosure filing for the month — 7.4 times the state average. Sargent County posted the state’s second highest foreclosure rate, one in every 2,057 households receiving a foreclosure filing — 6.7 times the state average. Ransom County posted the third highest foreclosure rate, one in every 2,745 households received a foreclosure filing in February.

 

State a minor contributor to nation’s foreclosure total in February

Total filings in North Dakota accounted for less than 1 percent of the 223,651 properties with foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, but is still 60 percent ahead of 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 Dakota 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 Dakota

0

0

2

0

20

22

13,839

0.04

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

0

0

0

0

0

n/a

0.00

0.00

Barnes

0

0

0

0

1

1

5,694

0.10

2.43

Benson

0

0

0

0

0

0

n/a

0.00

0.00

Billings

0

0

0

0

0

0

n/a

0.00

0.00

Bottineau

0

0

0

0

0

0

n/a

0.00

0.00

Bowman

0

0

0

0

0

0

n/a

0.00

0.00

Burke

0

0

0

0

0

0

n/a

0.00

0.00

Burleigh

0

0

0

0

0

0

n/a

0.00

0.00

Cass

0

0

1

0

8

9

6,817

0.08

2.03

Cavalier

0

0

0

0

0

0

n/a

0.00

0.00

Dickey

0

0

0

0

0

0

n/a

0.00

0.00

Divide

0

0

0

0

0

0

n/a

0.00

0.00

Dunn

0

0

0

0

0

0

n/a

0.00

0.00

Eddy

0

0

0

0

0

0

n/a

0.00

0.00

Emmons

0

0

0

0

0

0

n/a

0.00

0.00

Foster

0

0

0

0

0

0

n/a

0.00

0.00

Golden Valley

0

0

0

0

0

0

n/a

0.00

0.00

Grand Forks

0

0

1

0

3

4

7,135

0.08

1.94

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Griggs

0

0

0

0

0

0

n/a

0.00

0.00

Hettinger

0

0

0

0

0

0

n/a

0.00

0.00

Kidder

0

0

0

0

0

0

n/a

0.00

0.00

Lamoure

0

0

0

0

0

0

n/a

0.00

0.00

Logan

0

0

0

0

0

0

n/a

0.00

0.00

McHenry

0

0

0

0

0

0

n/a

0.00

0.00

McIntosh

0

0

0

0

1

1

1,866

0.30

7.42

McKenzie

0

0

0

0

0

0

n/a

0.00

0.00

McLean

0

0

0

0

0

0

n/a

0.00

0.00

Mercer

0

0

0

0

0

0

n/a

0.00

0.00

Morton

0

0

0

0

0

0

n/a

0.00

0.00

Mountrail

0

0

0

0

0

0

n/a

0.00

0.00

Nelson

0

0

0

0

0

0

n/a

0.00

0.00

Oliver

0

0

0

0

0

0

n/a

0.00

0.00

Pembina

0

0

0

0

0

0

n/a

0.00

0.00

Pierce

0

0

0

0

0

0

n/a

0.00

0.00

Ramsey

0

0

0

0

0

0

n/a

0.00

0.00

Ransom

0

0

0

0

1

1

2,745

0.20

5.04

Renville

0

0

0

0

0

0

n/a

0.00

0.00

Richland

0

0

0

0

1

1

7,652

0.07

1.81

Rolette

0

0

0

0

0

0

n/a

0.00

0.00

Sargent

0

0

0

0

1

1

2,057

0.27

6.73

Sheridan

0

0

0

0

0

0

n/a

0.00

0.00

Sioux

0

0

0

0

0

0

n/a

0.00

0.00

Slope

0

0

0

0

0

0

n/a

0.00

0.00

Stark

0

0

0

0

0

0

n/a

0.00

0.00

Steele

0

0

0

0

0

0

n/a

0.00

0.00

Stutsman

0

0

0

0

1

1

9,901

0.06

1.40

Towner

0

0

0

0

0

0

n/a

0.00

0.00

Traill

0

0

0

0

0

0

n/a

0.00

0.00

Walsh

0

0

0

0

1

1

5,739

0.10

2.41

Ward

0

0

0

0

2

2

12,834

0.04

1.08

Wells

0

0

0

0

0

0

n/a

0.00

0.00

Williams

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 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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