SOUTH DAKOTA FORECLOSURE ACTIVITY UP 7 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Down 16 Percent From August 2006

 

IRVINE, Calif. – September 21, 2007 – South Dakota reported 32 foreclosure filings in August, a 7 percent increase from the previous month, and a 16 percent decrease from August 2006, 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.

 

Although South Dakota foreclosures increased in August, the numbers are down from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show that the state currently holds one of the lower unemployment rates in the country. This is likely helping to keep foreclosures here scarce.”

 

South Dakota ranked 49th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 10,873 households ranked it 48th among the 50 states.

 

Two counties account for entire bulk of the state’s foreclosure activity

Total foreclosure filings in two South Dakota counties accounted for 100 percent of the state’s activity in August. Minnehaha County reported 31 foreclosure filings, the most of any county for the month. Pennington County reported the second highest total with one foreclosure filing.

 

Minnehaha County posts highest foreclosure rate

Minnehaha County reported the highest foreclosure rate in the state for August, with one foreclosure filing for every 2,189 households — five times the state average. Pennington County posted the second highest foreclosure rate, with one foreclosure filing for every 40,673 households.

 

State contributes less than 1 percent to nation’s monthly total

Total foreclosure filings in South Dakota accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 U.S. households for 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.

 

 

                     South Dakota Foreclosure Market by County – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

South Dakota

0

0

32

0

0

32

10,873

0.05

n/a

 

 

 

 

 

 

 

 

 

 

Butte

0

0

0

0

0

0

n/a

0.00

0.00

Codington

0

0

0

0

0

0

n/a

0.00

0.00

Hamlin

0

0

0

0

0

0

n/a

0.00

0.00

Hughes

0

0

0

0

0

0

n/a

0.00

0.00

Lake

0

0

0

0

0

0

n/a

0.00

0.00

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

McCook

0

0

0

0

0

0

n/a

0.00

0.00

Meade

0

0

0

0

0

0

n/a

0.00

0.00

Minnehaha

0

0

31

0

0

31

2,189

0.23

4.97

Pennington

0

0

1

0

0

1

40,673

0.01

0.27

Turner

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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