NORTH DAKOTA FORECLOSURES INCREASE 100 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 18 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – North Dakota documented 28 new foreclosure filings in January, a 100 percent increase from the previous month, but an 18 percent decrease from January 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 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 North Dakota foreclosures doubled in January, the numbers are still down from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that while home sales declined throughout the state last year, home price appreciation remained above the national average. This — in addition to a low unemployment rate — is likely helping to keep the state’s foreclosure rates among the nation’s lowest.”

 

North Dakota ranked among the five lowest states in total foreclosures for January. The state’s foreclosure rate of one new foreclosure filing for every 10,345 households ranks it again among the five lowest states.

 

Three counties account for largest share of state total

Three counties accounted for 89 percent of all foreclosure filings in North Dakota for January. Ward County led the state in total foreclosures, reporting 12 filings for the month. Cass County documented the second highest total, reporting 10 filings. Burleigh County documented the third highest total, reporting three filings in the foreclosure pipeline during the month.

 

Ward County leads state in foreclosure rate

Ward County tallied the highest foreclosure rate in North Dakota for January, with one new foreclosure filing for every 2,091 households — five times the state average. McHenry County registered the second highest rate, with one new foreclosure filing for every 2,983 households — 3.5 times the state average. Cass County registered the third highest foreclosure rate, with one new foreclosure filing for every 5,379 households — 1.9 times the state average.

 

State makes minor contribution to national total

North Dakota accounted for less than 1 percent of the 130,511 foreclosure filings nationwide in January, up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 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).

 

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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

North Dakota

6

1

0

0

21

28

10,345

0.09

n/a

 

 

 

 

 

 

 

 

 

 

Barnes

0

0

0

0

0

0

n/a

0.00

0.00

Burleigh

1

0

0

0

2

3

9,668

0.09

1.07

Cass

1

0

0

0

9

10

5,379

0.16

1.92

Divide

0

0

0

0

0

0

n/a

0.00

0.00

Grand Forks

0

0

0

0

0

0

n/a

0.00

0.00

McHenry

0

1

0

0

0

1

2,983

0.30

3.47

Richland

0

0

0

0

0

0

n/a

0.00

0.00

Stutsman

0

0

0

0

1

1

9,817

0.09

1.05

Traill

0

0

0

0

0

0

n/a

0.00

0.00

Ward

4

0

0

0

8

12

2,091

0.42

4.95

Williams

0

0

0

0

1

1

9,680

0.09

1.07

 

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 1.3 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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