TENNESSEE FORECLOSURE ACTIVITY DOWN 2 PERCENT IN DECEMBER

Yearly Foreclosure Total Up 33 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – Tennessee reported 3,778 foreclosure filings in December, a 2 percent decrease from the previous month, but still a 33 percent increase from December 20066, 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 Tennessee foreclosures decreased in December, the numbers are up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show that the state’s unemployment rate is above the national average. This is likely contributing to the overall 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 698 households ranked it 11th among the 50 states.

 

Three counties account for majority of state’s foreclosure filings

Three counties accounted for 57 percent of all foreclosure filings in Tennessee for December. Shelby County led the state in total foreclosure activity for the month, reporting 1,589 foreclosure filings. Davidson County posted the second highest foreclosure total, with 337 foreclosure filings, followed by Knox County, which reported 212 foreclosure filings.

 

Shelby County posts highest foreclosure rate

Shelby County reported the highest county foreclosure rate in Tennessee for December, one foreclosure filing for every 245 households — 2.9 times the state average and 2.4 times the national average. Trousdale County posted the second highest foreclosure rate, one foreclosure filing for every 364 households — 1.9 times the state average and 1.6 times the national average. Marshall County posted the third highest county foreclosure rate, one foreclosure filing for every 397 households — 1.8 times the state average and 1.5 times the national average.

 

State contributes 2 percent to nation’s monthly total

Total foreclosure filings in Tennessee accounted for 2 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 577 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 – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Tennessee

1,129

1,580

1

0

1,068

3,778

698

0.83

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

8

11

0

0

13

32

1,052

0.55

0.66

Bedford

3

5

0

0

12

20

825

0.70

0.85

Benton

0

0

0

0

7

7

1,276

0.45

0.55

Bledsoe

0

3

0

0

2

5

1,072

0.54

0.65

Blount

0

15

0

0

1

16

3,167

0.18

0.22

Bradley

15

5

0

0

19

39

1,021

0.57

0.68

Campbell

4

5

0

0

10

19

998

0.58

0.70

Cannon

1

1

0

0

1

3

1,879

0.31

0.37

Carroll

3

4

0

0

8

15

899

0.64

0.78

Carter

3

2

0

0

5

10

2,687

0.21

0.26

Cheatham

3

7

0

0

3

13

1,161

0.50

0.60

Chester

2

3

0

0

5

10

657

0.88

1.06

Claiborne

3

0

0

0

1

4

3,651

0.16

0.19

Clay

0

0

0

0

1

1

4,131

0.14

0.17

Cocke

3

1

0

0

8

12

1,369

0.42

0.51

Coffee

5

3

0

0

7

15

1,460

0.40

0.48

Crockett

4

3

0

0

4

11

573

1.01

1.22

Cumberland

4

8

0

0

4

16

1,483

0.39

0.47

Davidson

166

105

0

0

66

337

803

0.72

0.87

Decatur

1

2

0

0

2

5

1,342

0.43

0.52

Dekalb

0

0

0

0

0

0

n/a

0.00

0.00

Dickson

5

4

0

0

4

13

1,489

0.39

0.47

Dyer

9

5

0

0

6

20

847

0.68

0.82

Fayette

1

5

0

0

1

7

1,821

0.32

0.38

Fentress

1

2

0

0

3

6

1,315

0.44

0.53

Franklin

3

3

0

0

10

16

1,146

0.50

0.61

Gibson

19

6

0

0

9

34

645

0.90

1.08

Giles

3

1

0

0

5

9

1,517

0.38

0.46

Grainger

3

1

0

0

4

8

1,270

0.45

0.55

Greene

8

7

0

0

5

20

1,496

0.39

0.47

Grundy

0

0

0

0

0

0

n/a

0.00

0.00

Hamblen

11

7

0

0

3

21

1,236

0.47

0.56

Hamilton

53

47

0

0

88

188

761

0.76

0.92

Hancock

0

0

0

0

0

0

n/a

0.00

0.00

Hardeman

3

3

0

0

7

13

862

0.67

0.81

Hardin

1

1

0

0

6

8

1,672

0.35

0.42

Hawkins

6

4

0

0

4

14

1,833

0.31

0.38

Haywood

0

4

0

0

6

10

843

0.68

0.83

Henderson

0

2

0

0

3

5

2,393

0.24

0.29

Henry

1

0

0

0

4

5

3,299

0.17

0.21

Hickman

3

5

0

0

5

13

712

0.81

0.98

Houston

1

2

0

0

0

3

1,351

0.43

0.52

Humphreys

4

2

0

0

2

8

1,109

0.52

0.63

Jackson

3

0

0

0

5

8

670

0.86

1.04

Jefferson

7

7

0

0

6

20

1,069

0.54

0.65

Johnson

0

2

0

0

0

2

4,227

0.14

0.17

Knox

84

53

0

0

75

212

881

0.65

0.79

Lake

0

1

0

0

0

1

2,745

0.21

0.25

Lauderdale

3

1

0

0

14

18

628

0.92

1.11

Lawrence

2

0

0

0

4

6

2,880

0.20

0.24

Lewis

2

1

0

0

1

4

1,250

0.46

0.56

Lincoln

3

3

0

0

1

7

2,058

0.28

0.34

Loudon

8

6

0

0

9

23

808

0.71

0.86

Macon

1

6

0

0

5

12

778

0.74

0.90

Madison

5

16

0

0

41

62

671

0.86

1.04

Marion

4

2

0

0

3

9

1,465

0.39

0.48

Marshall

4

1

0

0

26

31

397

1.45

1.76

Maury

9

12

0

0

10

31

1,061

0.54

0.66

McMinn

4

8

0

0

16

28

801

0.72

0.87

McNairy

6

5

0

0

5

16

728

0.79

0.96

Meigs

0

1

0

0

1

2

2,755

0.21

0.25

Monroe

3

5

0

0

6

14

1,311

0.44

0.53

Montgomery

21

25

0

0

18

64

955

0.60

0.73

Moore

0

0

0

0

0

0

n/a

0.00

0.00

Morgan

2

1

0

0

2

5

1,607

0.36

0.43

Obion

0

3

0

0

0

3

4,955

0.12

0.14

Overton

1

2

0

0

0

3

3,171

0.18

0.22

Perry

0

0

0

0

0

0

n/a

0.00

0.00

Pickett

0

0

0

0

1

1

3,072

0.19

0.23

Polk

0

1

0

0

1

2

3,909

0.15

0.18

Putnam

13

6

0

0

13

32

909

0.64

0.77

Rhea

3

4

0

0

3

10

1,348

0.43

0.52

Roane

13

4

0

0

9

26

932

0.62

0.75

Robertson

4

10

0

0

13

27

888

0.65

0.79

Rutherford

66

51

0

0

22

139

649

0.89

1.08

Scott

0

0

0

0

0

0

n/a

0.00

0.00

Sequatchie

4

3

0

0

0

7

736

0.78

0.95

Sevier

12

18

0

0

10

40

1,025

0.56

0.68

Shelby

365

926

1

0

297

1,589

245

2.36

2.85

Smith

5

3

0

0

2

10

800

0.72

0.87

Stewart

0

0

0

0

2

2

3,111

0.19

0.22

Sullivan

0

8

0

0

0

8

9,030

0.06

0.08

Sumner

29

21

0

0

13

63

929

0.62

0.75

Tipton

14

14

0

0

14

42

623

1.10

1.33

Trousdale

4

2

0

0

3

9

364

1.59

1.92

Unicoi

2

0

0

0

2

4

2,132

0.27

0.33

Union

0

2

0

0

2

4

2,172

0.27

0.32

Van Buren

2

1

0

0

0

3

821

0.68

0.82

Warren

4

8

0

0

8

20

864

0.67

0.81

Washington

8

10

0

0

20

38

1,340

0.43

0.52

Wayne

0

0

0

0

2

2

3,507

0.16

0.20

Weakley

3

3

0

0

1

7

2,220

0.26

0.31

White

4

3

0

0

7

14

755

0.76

0.92

Williamson

22

12

0

0

7

41

1,383

0.42

0.50

Wilson

17

15

0

0

14

46

872

0.66

0.80

 

 

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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