PHOENIX FORECLOSURES INCREASE 35 PERCENT IN AUGUST

Phoenix Foreclosure Rate Above National Average
Arizona Foreclosures Up 27 Percent

IRVINE, Calif. – Sept. 24, 2006 – Foreclosure activity in Phoenix increased 35 percent in August, and the area’s foreclosure rate stayed above the national average but below the foreclosure rates in the majority of the nation’s 10 largest metros, according to the August 2006 RealtyTrac™ U.S. Foreclosure Market Report.

The two-county Phoenix metropolitan area recorded 2,717 properties entering some stage of foreclosure during the month, a foreclosure rate of one new foreclosure filing for every 437 households.

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

“The rise in foreclosure activity in Phoenix is not unexpected given that the area’s home price appreciation rate slowed sharply during the first two quarters of this year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Such a slowdown spells trouble for speculative buyers who may be stuck with a house that they can’t afford to either sell or keep. On the other hand, the low unemployment rate in Phoenix should help insulate the area from skyrocketing foreclosures.”

The foreclosure rate in Phoenix was lower than the foreclosure rates in Dallas, Atlanta, Riverside, Calif., Houston and Chicago. Foreclosure rates in Philadelphia, Los Angeles, New York and Washington were lower than the foreclosure rate in Phoenix.

With 1,730 properties entering some stage of foreclosure, Maricopa County reported the majority of new foreclosure filings in the metro area. The county’s foreclosure rate of one new foreclosure filing for every 723 households was 1.4 times the national average.

Pinal County posted a slightly higher foreclosure rate — one new foreclosure filing for every 671 households. The county recorded 121 properties entering some stage of foreclosure during the month.

Arizona recorded 2,573 properties entering some stage of foreclosure, a 27 percent increase from the previous month but a 12 percent decline from August 2005. The state’s foreclosure rate of one new foreclosure filing for every 851 households was the 11th highest in the nation and 1.2 times the national average.

U.S. foreclosure activity increased 24 percent in August, with 115,292 properties entering some stage of foreclosure during the month — the second highest number reported in any month year to date and one new foreclosure filing for every 1,003 households.

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, statewide and by county in the Phoenix Metropolitan Statistical Area. 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 re-purchased by a bank).

Phoenix Area Foreclosure Market Statistics by County – Aug 2006

Geography NOD NTS NFS LIS REO Total 1 in every # households /National Average

United States

20,611

45,704

7,328

21,533

20,116

115,292

1,003

Arizona

0

0

2,238

239

96

2,573

851

1.179

Phoenix MSA

0

0

1,576

226

49

1,851

719

1.394

Maricopa County

0

0

1,468

219

43

1,730

723

1.388

Pinal County

0

0

108

7

6

121

671

1.495

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. (http://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 http://www.realtytrac.com/.

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Media Contacts:
Michelle Schneider
949.502.8300 Ext. 139
michelle.schneider@realtytrac.com

Christine Stricker
949.502.8300 Ext. 268
christine.stricker@realtytrac.com

Detailed & Historical Data:
Tyler White
949.502.8300 Ext. 158
tyler.white@realtytrac.com

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