TENNESSEE FORECLOSURE ACTIVITY DOWN 15 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Activity Up 7 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 19, 2007 – Tennessee reported 3,862 foreclosure filings in November, a 15 percent decrease from the previous month, but still a 7 percent increase from November 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.

 

Tennessee’s unemployment rate is down, which is likely contributing to the state’s decrease in foreclosures,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent employment gains among government, professional, scientific and technical services and retail trade may help improve the state’s economy moving forward.” 

Tennessee ranked 15th in the country in total foreclosures reported for November. The state’s foreclosure rate of one foreclosure filing for every 683 households ranked it 11th among the 50 states.

 

Shelby County accounts for nearly half of the state’s activity

Shelby County reported the highest foreclosure total in Tennessee for November, with 1,712 foreclosure filings for the month. Davidson County reported the second highest state total, with 368 foreclosure filings. Knox County posted the third highest foreclosure total, with 217 foreclosure filings. Rutherford County had the fourth highest state total, with 162 filings entering some part of the foreclosure pipeline.

 

Shelby County posts highest foreclosure rate for November

Shelby County tallied the highest foreclosure rate in Tennessee for November, one foreclosure filing for every 227 households — three times the state average and 2.7 times the national average. Tipton County registered the second highest foreclosure rate, one foreclosure filing for every 488 households — 1.4 times the state average and 1.3 times the national average. Rutherford County came in third with a foreclosure rate of one foreclosure filing for every 556 households — 1.3 times the state average.

 

State makes a contribution to national total

Total foreclosure filings in Tennessee accounted for 2 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represents a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 U.S. households for 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: 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 – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Tennessee

1,229

1,728

0

0

905

3,862

683

0.90

n/a

 

 

 

 

 

 

 

 

 

Anderson

8

8

0

0

5

21

1,603

0.38

0.43

Bedford

12

8

0

0

8

28

589

1.05

1.16

Benton

3

1

0

0

2

6

1,489

0.41

0.46

Bledsoe

0

2

0

0

1

3

1,787

0.35

0.38

Blount

0

9

0

0

0

9

5,630

0.11

0.12

Bradley

13

13

0

0

16

42

948

0.65

0.72

Campbell

10

5

0

0

14

29

654

0.94

1.04

Cannon

1

2

0

0

1

4

1,410

0.44

0.48

Carroll

5

3

0

0

8

16

843

0.73

0.81

Carter

2

4

0

0

5

11

2,443

0.25

0.28

Cheatham

6

7

0

0

4

17

888

0.69

0.77

Chester

2

2

0

0

3

7

938

0.66

0.73

Claiborne

3

2

0

0

4

9

1,623

0.38

0.42

Clay

0

0

0

0

2

2

2,066

0.30

0.33

Cocke

6

2

0

0

1

9

1,825

0.34

0.37

Coffee

3

5

0

0

4

12

1,825

0.34

0.37

Crockett

2

6

0

0

1

9

701

0.88

0.97

Cumberland

4

1

0

0

4

9

2,636

0.23

0.26

Davidson

169

136

0

0

63

368

735

0.84

0.93

Decatur

1

0

0

0

1

2

3,356

0.18

0.20

Dekalb

0

1

0

0

1

2

4,353

0.14

0.16

Dickson

5

4

0

0

6

15

1,290

0.48

0.53

Dyer

8

9

0

0

3

20

847

0.73

0.81

Fayette

7

2

0

0

6

15

850

0.73

0.80

Fentress

3

1

0

0

1

5

1,578

0.39

0.43

Franklin

4

4

0

0

6

14

1,310

0.47

0.52

Gibson

8

6

0

0

15

29

756

0.82

0.90

Giles

5

4

0

0

1

10

1,366

0.45

0.50

Grainger

2

0

0

0

5

7

1,451

0.42

0.47

Greene

14

4

0

0

10

28

1,068

0.58

0.64

Grundy

1

1

0

0

1

3

2,174

0.28

0.31

Hamblen

14

8

0

0

7

29

895

0.69

0.76

Hamilton

30

53

0

0

61

144

993

0.62

0.69

Hancock

0

0

0

0

0

0

n/a

0.00

0.00

Hardeman

5

4

0

0

2

11

1,018

0.61

0.67

Hardin

4

4

0

0

3

11

1,216

0.51

0.56

Hawkins

2

2

0

0

4

8

3,208

0.19

0.21

Haywood

0

3

0

0

4

7

1,204

0.51

0.57

Henderson

1

2

0

0

4

7

1,709

0.36

0.40

Henry

4

1

0

0

4

9

1,833

0.34

0.37

Hickman

4

5

0

0

6

15

617

1.00

1.11

Houston

0

1

0

0

0

1

4,052

0.15

0.17

Humphreys

2

3

0

0

4

9

985

0.63

0.69

Jackson

1

2

0

0

2

5

1,072

0.57

0.64

Jefferson

5

9

0

0

4

18

1,188

0.52

0.57

Johnson

1

0

0

0

0

1

8,454

0.07

0.08

Knox

82

73

0

0

62

217

861

0.72

0.79

Lake

0

1

0

0

1

2

1,373

0.45

0.50

Lauderdale

4

5

0

0

4

13

869

0.71

0.79

Lawrence

5

0

0

0

4

9

1,920

0.32

0.36

Lewis

0

2

0

0

1

3

1,666

0.37

0.41

Lincoln

2

1

0

0

6

9

1,601

0.39

0.43

Loudon

8

10

0

0

8

26

715

0.86

0.96

Macon

5

1

0

0

8

14

667

0.92

1.02

Madison

4

24

0

0

28

56

743

0.83

0.92

Marion

3

3

0

0

6

12

1,099

0.56

0.62

Marshall

7

6

0

0

5

18

685

0.90

1.00

Maury

11

16

0

0

6

33

997

0.62

0.69

McMinn

15

3

0

0

9

27

830

0.74

0.82

McNairy

2

4

0

0

2

8

1,456

0.42

0.47

Meigs

0

1

0

0

1

2

2,755

0.22

0.25

Monroe

5

3

0

0

6

14

1,311

0.47

0.52

Montgomery

29

24

0

0

16

69

886

0.70

0.77

Moore

0

0

0

0

0

0

n/a

0.00

0.00

Morgan

2

2

0

0

3

7

1,148

0.54

0.60

Obion

0

3

0

0

0

3

4,955

0.12

0.14

Overton

1

2

0

0

0

3

3,171

0.19

0.22

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Pickett

0

1

0

0

0

1

3,072

0.20

0.22

Polk

1

1

0

0

1

3

2,606

0.24

0.26

Putnam

0

5

0

0

2

7

4,155

0.15

0.16

Rhea

5

1

0

0

1

7

1,925

0.32

0.35

Roane

5

5

0

0

10

20

1,212

0.51

0.56

Robertson

18

13

0

0

5

36

666

0.93

1.03

Rutherford

60

62

0

0

40

162

556

1.11

1.23

Scott

0

0

0

0

0

0

 n/a

0.00

0.00

Sequatchie

1

1

0

0

0

2

2,576

0.24

0.27

Sevier

15

13

0

0

9

37

1,108

0.56

0.62

Shelby

429

1,001

0

0

282

1,712

227

2.71

3.00

Smith

3

0

0

0

5

8

1,000

0.62

0.68

Stewart

2

2

0

0

1

5

1,244

0.50

0.55

Sullivan

0

10

0

0

3

13

5,557

0.11

0.12

Sumner

40

10

0

0

16

66

886

0.70

0.77

Tipton

15

19

0

0

11

45

488

1.26

1.40

Trousdale

0

0

0

0

3

3

1,092

0.56

0.63

Unicoi

3

2

0

0

1

6

1,421

0.43

0.48

Union

3

2

0

0

1

6

1,448

0.43

0.47

Van Buren

0

0

0

0

0

0

 n/a

0.00

0.00

Warren

10

5

0

0

4

19

909

0.68

0.75

Washington

6

9

0

0

8

23

2,215

0.28

0.31

Wayne

1

0

0

0

2

3

2,338

0.26

0.29

Weakley

5

2

0

0

7

14

1,110

0.56

0.62

White

2

3

0

0

2

7

1,510

0.41

0.45

Williamson

18

11

0

0

5

34

1,667

0.37

0.41

Wilson

22

17

0

0

3

42

956

0.65

0.71

 

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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