TENNESSEE FORECLOSURE ACTIVITY DECREASES 13 PERCENT IN SEPTEMBER

Yearly Total Up 46 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Tennessee reported 4,033 foreclosure filings in September, a 13 percent decrease from the previous month, but sill a 46 percent increase from September 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 foreclosure activity in Tennessee declined in September, the state’s foreclosure filings are up significantly from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Home sales in Tennessee have declined at a rate nearly double that of the national average last year. This is likely contributing to the overall year-over-year rise.”

 

Tennessee ranked 14th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 654 households ranked it 12th among the 50 states.

 

Three counties account for majority of state’s foreclosure activity

Total foreclosure filings in three Tennessee counties accounted for 58 percent of the state’s activity in September. Shelby County reported 1,824 foreclosure filings, the most of any county for the month. Davidson County documented the second highest foreclosure total, reporting 357 foreclosure filings for the month. Knox County reported the third highest foreclosure total, with 167 foreclosure filings.

 

Shelby County posts highest foreclosure rate

Shelby County reported the highest county foreclosure rate in the state for September, with one foreclosure filing for every 213 households — 3.1 times the state average and 2.6 times the national average. Sumner County posted the second highest foreclosure rate, with one foreclosure filing for every 500 households — 1.3 times the state average. Rutherford County posted the third highest foreclosure rate, with one foreclosure filing for every 550 households.

 

State contributes 2 percent to nation’s monthly total

Total foreclosure filings in Tennessee accounted for 2 percent of the 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 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.

 

 

                   Tennessee Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Tennessee

1,082

2,112

0

0

839

4,033

654

0.85

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

14

14

0

0

8

36

935

0.60

0.69

Bedford

7

9

0

0

5

21

786

0.71

0.83

Benton

1

3

0

0

2

6

1,489

0.37

0.43

Bledsoe

3

2

0

0

1

6

893

0.62

0.73

Blount

0

12

0

0

0

12

4,223

0.13

0.15

Bradley

19

8

0

0

20

47

847

0.66

0.77

Campbell

7

6

0

0

10

23

824

0.68

0.79

Cannon

2

3

0

0

0

5

1,128

0.49

0.58

Carroll

3

1

0

0

7

11

1,226

0.45

0.53

Carter

6

3

0

0

3

12

2,239

0.25

0.29

Cheatham

5

5

0

0

3

13

1,161

0.48

0.56

Chester

2

4

0

0

4

10

657

0.85

0.99

Claiborne

5

4

0

0

4

13

1,123

0.50

0.58

Clay

0

0

0

0

1

1

4,131

0.13

0.15

Cocke

1

9

0

0

3

13

1,264

0.44

0.51

Coffee

11

5

0

0

6

22

995

0.56

0.65

Crockett

1

2

0

0

3

6

1,051

0.53

0.62

Cumberland

5

3

0

0

4

12

1,977

0.28

0.33

Davidson

158

134

0

0

65

357

758

0.74

0.86

Decatur

1

0

0

0

2

3

2,237

0.25

0.29

DeKalb

0

5

0

0

0

5

1,741

0.32

0.37

Dickson

6

9

0

0

7

22

880

0.63

0.74

Dyer

8

8

0

0

7

23

736

0.76

0.88

Fayette

6

8

0

0

5

19

671

0.83

0.97

Fentress

4

2

0

0

0

6

1,315

0.42

0.49

Franklin

1

3

0

0

5

9

2,037

0.27

0.32

Gibson

6

12

0

0

10

28

783

0.71

0.83

Giles

2

0

0

0

3

5

2,731

0.20

0.23

Grainger

3

6

0

0

1

10

1,016

0.55

0.64

Greene

9

14

0

0

5

28

1,068

0.52

0.61

Grundy

1

3

0

0

0

4

1,631

0.34

0.40

Hamblen

0

14

0

0

14

28

927

0.60

0.70

Hamilton

37

47

0

0

63

147

973

0.57

0.67

Hancock

0

0

0

0

0

0

n/a

0.00

0.00

Hardeman

7

11

0

0

1

19

589

0.94

1.10

Hardin

0

6

0

0

4

10

1,338

0.42

0.48

Hawkins

5

7

0

0

7

19

1,351

0.41

0.48

Haywood

0

3

0

0

1

4

2,107

0.26

0.31

Henderson

0

0

0

0

7

7

1,709

0.33

0.38

Henry

3

2

0

0

4

9

1,833

0.30

0.35

Hickman

3

4

0

0

2

9

1,029

0.54

0.63

Houston

1

2

0

0

0

3

1,351

0.41

0.48

Humphreys

1

2

0

0

4

7

1,267

0.44

0.51

Jackson

3

1

0

0

3

7

766

0.73

0.85

Jefferson

4

7

0

0

3

14

1,527

0.36

0.42

Johnson

0

3

0

0

1

4

2,114

0.26

0.30

Knox

57

67

0

0

43

167

1,119

0.50

0.58

Lake

0

1

0

0

0

1

2,745

0.20

0.23

Lauderdale

6

5

0

0

0

11

1,027

0.54

0.63

Lawrence

4

6

0

0

5

15

1,152

0.48

0.56

Lewis

1

3

0

0

2

6

833

0.67

0.78

Lincoln

2

6

0

0

2

10

1,441

0.39

0.45

Loudon

5

5

0

0

7

17

1,094

0.51

0.59

Macon

4

2

0

0

3

9

1,038

0.54

0.63

Madison

18

27

0

0

23

68

612

0.91

1.06

Marion

2

2

0

0

4

8

1,648

0.34

0.39

Marshall

4

3

0

0

4

11

1,120

0.50

0.58

Maury

11

19

0

0

11

41

802

0.69

0.81

McMinn

10

11

0

0

9

30

747

0.75

0.87

McNairy

1

3

0

0

5

9

1,294

0.43

0.50

Meigs

0

1

0

0

1

2

2,755

0.20

0.23

Monroe

0

4

0

0

7

11

1,668

0.33

0.39

Montgomery

23

27

0

0

16

66

926

0.60

0.70

Moore

0

0

0

0

0

0

n/a

0.00

0.00

Morgan

3

1

0

0

3

7

1,148

0.49

0.57

Obion

0

3

0

0

0

3

4,955

0.11

0.13

Overton

1

1

0

0

0

2

4,757

0.12

0.13

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Pickett

0

0

0

0

0

0

n/a

0.00

0.00

Polk

0

0

0

0

4

4

1,954

0.29

0.33

Putnam

0

7

0

0

1

8

3,635

0.15

0.18

Rhea

5

5

0

0

2

12

1,123

0.50

0.58

Roane

6

8

0

0

6

20

1,212

0.46

0.54

Robertson

12

17

0

0

8

37

648

0.86

1.01

Rutherford

57

68

0

0

39

164

550

1.01

1.19

Scott

0

1

0

0

0

1

9,257

0.06

0.07

Sequatchie

2

4

0

0

1

7

736

0.76

0.88

Sevier

27

10

0

0

7

44

931

0.60

0.70

Shelby

337

1,241

0

0

246

1,824

213

2.61

3.06

Smith

3

2

0

0

8

13

615

0.91

1.06

Stewart

1

0

0

0

1

2

3,111

0.18

0.21

Sullivan

0

15

0

0

0

15

4,816

0.12

0.13

Sumner

51

42

0

0

24

117

500

1.11

1.30

Tipton

10

15

0

0

12

37

594

0.94

1.10

Trousdale

0

1

0

0

0

1

3,277

0.17

0.20

Unicoi

0

1

0

0

0

1

8,527

0.07

0.07

Union

3

2

0

0

1

6

1,448

0.38

0.45

Van Buren

0

0

0

0

0

0

n/a

0.00

0.00

Warren

0

4

0

0

4

8

2,159

0.26

0.30

Washington

15

22

0

0

10

47

1,084

0.51

0.60

Wayne

1

1

0

0

1

3

2,338

0.24

0.28

Weakley

2

2

0

0

6

10

1,554

0.36

0.42

White

4

8

0

0

3

15

705

0.79

0.92

Williamson

17

15

0

0

0

32

1,771

0.31

0.36

Wilson

16

18

0

0

2

36

1,115

0.50

0.58

 

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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