TENNESSEE FORECLOSURE ACTIVITY UP 12 PERCENT IN JANUARY

Yearly Foreclosure Activity Up 10 Percent From January 2007

 

IRVINE, Calif. – Feb. 26, 2008 – Tennessee reported 4,239 foreclosure filings in January, a 12 percent increase from the previous month, and a 10 percent increase from January 2007, 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 evident in the state’s increase in foreclosures,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, recent employment gains among government, professional, scientific and technical services, and retail trade may help improve the state’s economy moving forward.”

Tennessee ranked 16th in the country in total foreclosures reported for January. The state’s foreclosure rate of one foreclosure filing for every 622 households ranked it 16th among the 50 states.

 

Shelby County reports highest foreclosure total

Shelby County led the state in total foreclosure filings for the month, reporting 1,682 foreclosure filings in January. Davidson County posted the second highest foreclosure total, reporting 267 foreclosure filings. Knox County registered the third highest foreclosure total, with 247 foreclosure filings, followed by Hamilton County, in fourth place with 208 foreclosure filings for the month.

 

Shelby County posts highest foreclosure rate

Shelby County posted the highest foreclosure rate in Tennessee for January, one foreclosure filing for every 231 households — 2.7 times the state average and 2.3 times the national average. Marshall County posted the second highest foreclosure rates, one foreclosure filing for every 301 households — 2.1 times the state average and 1.8 times the national average. Rutherford County posted the third highest foreclosure rate, one foreclosure filing for every 458 households — 1.4 times the state average.

 

State a minor contributor to nation’s total in January

Total foreclosure filings in Tennessee accounted for 2 percent of the 223,001 foreclosure filings reported nationwide in January. The national total represents an 8 percent increase from the previous month, and is 57 percent above the total reported for January 2007. The nation’s foreclosure rate increased to one foreclosure filing for every 534 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 – January 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

52,321

60,101

19,662

55,590

45,327

233,001

534

n/a

n/a

Tennessee

1,284

1,863

0

0

1,092

4,239

622

0.86

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

12

15

0

0

9

36

935

0.57

0.67

Bedford

9

16

0

0

9

34

485

1.10

1.28

Benton

1

0

0

0

2

3

2,978

0.18

0.21

Bledsoe

1

2

0

0

0

3

1,787

0.30

0.35

Blount

0

21

0

0

0

21

2,413

0.22

0.26

Bradley

17

17

0

0

17

51

780

0.68

0.80

Campbell

9

9

0

0

6

24

790

0.68

0.79

Cannon

0

1

0

0

1

2

2,819

0.19

0.22

Carroll

3

2

0

0

6

11

1,226

0.44

0.51

Carter

4

1

0

0

10

15

1,791

0.30

0.35

Cheatham

6

2

0

0

14

22

686

0.78

0.91

Chester

0

3

0

0

1

4

1,642

0.33

0.38

Claiborne

3

2

0

0

0

5

2,921

0.18

0.21

Clay

1

1

0

0

0

2

2,066

0.26

0.30

Cocke

2

5

0

0

3

10

1,643

0.33

0.38

Coffee

11

11

0

0

8

30

730

0.73

0.85

Crockett

5

0

0

0

4

9

701

0.76

0.89

Cumberland

11

6

0

0

5

22

1,078

0.50

0.58

Davidson

99

125

0

0

43

267

1,013

0.53

0.61

Decatur

0

0

0

0

1

1

6,711

0.08

0.09

Dekalb

0

3

0

0

0

3

2,902

0.18

0.21

Dickson

8

5

0

0

6

19

1,019

0.52

0.61

Dyer

7

5

0

0

7

19

891

0.60

0.70

Fayette

8

4

0

0

3

15

850

0.63

0.73

Fentress

0

1

0

0

4

5

1,578

0.34

0.39

Franklin

4

3

0

0

4

11

1,667

0.32

0.37

Gibson

4

16

0

0

4

24

913

0.59

0.68

Giles

5

3

0

0

8

16

854

0.63

0.73

Grainger

3

2

0

0

1

6

1,693

0.32

0.37

Greene

13

8

0

0

17

38

787

0.68

0.79

Grundy

0

1

0

0

1

2

3,262

0.16

0.19

Hamblen

10

10

0

0

14

34

763

0.70

0.82

Hamilton

76

71

0

0

61

208

688

0.78

0.90

Hancock

1

0

0

0

0

1

3,379

0.16

0.18

Hardeman

3

11

0

0

1

15

747

0.72

0.83

Hardin

7

3

0

0

1

11

1,216

0.44

0.51

Hawkins

6

6

0

0

8

20

1,283

0.42

0.48

Haywood

0

2

0

0

4

6

1,405

0.38

0.44

Henderson

6

1

0

0

2

9

1,329

0.40

0.47

Henry

2

3

0

0

5

10

1,650

0.32

0.38

Hickman

9

3

0

0

7

19

487

1.10

1.28

Houston

1

1

0

0

2

4

1,013

0.53

0.61

Humphreys

7

1

0

0

4

12

739

0.72

0.84

Jackson

0

1

0

0

3

4

1,341

0.40

0.46

Jefferson

11

9

0

0

9

29

737

0.72

0.84

Johnson

0

0

0

0

0

0

 n/a

0.00

0.00

Knox

58

98

0

0

91

247

757

0.71

0.82

Lake

2

1

0

0

0

3

915

0.58

0.68

Lauderdale

3

6

0

0

4

13

869

0.61

0.72

Lawrence

6

5

0

0

4

15

1,152

0.46

0.54

Lewis

2

4

0

0

1

7

714

0.75

0.87

Lincoln

3

7

0

0

6

16

901

0.59

0.69

Loudon

12

4

0

0

8

24

775

0.69

0.80

Macon

5

8

0

0

6

19

491

1.09

1.27

Madison

1

30

0

0

42

73

570

0.94

1.09

Marion

2

7

0

0

7

16

824

0.65

0.76

Marshall

4

5

0

0

32

41

301

1.78

2.07

Maury

13

10

0

0

10

33

997

0.54

0.62

McMinn

13

4

0

0

11

28

801

0.67

0.78

McNairy

8

6

0

0

4

18

647

0.83

0.96

Meigs

0

0

0

0

2

2

2,755

0.19

0.23

Monroe

4

4

0

0

7

15

1,223

0.44

0.51

Montgomery

28

37

0

0

23

88

695

0.77

0.90

Moore

0

1

0

0

0

1

2,781

0.19

0.22

Morgan

1

1

0

0

2

4

2,009

0.27

0.31

Obion

0

4

0

0

0

4

3,717

0.14

0.17

Overton

0

1

0

0

1

2

4,757

0.11

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

1

0

0

2

3

2,606

0.21

0.24

Putnam

9

7

0

0

8

24

1,212

0.44

0.51

Rhea

8

4

0

0

5

17

793

0.67

0.78

Roane

9

12

0

0

10

31

782

0.68

0.80

Robertson

16

18

0

0

10

44

545

0.98

1.14

Rutherford

86

57

0

0

54

197

458

1.17

1.36

Scott

0

3

0

0

0

3

3,086

0.17

0.20

Sequatchie

1

1

0

0

1

3

1,717

0.31

0.36

Sevier

13

32

0

0

15

60

683

0.78

0.91

Shelby

441

927

0

0

314

1,682

231

2.31

2.69

Smith

4

3

0

0

4

11

727

0.73

0.86

Stewart

2

2

0

0

7

11

566

0.94

1.10

Sullivan

0

23

0

0

0

23

3,141

0.17

0.20

Sumner

39

33

0

0

15

87

672

0.79

0.93

Tipton

9

24

0

0

14

47

467

1.14

1.33

Trousdale

1

1

0

0

0

2

1,639

0.33

0.38

Unicoi

2

0

0

0

1

3

2,842

0.19

0.22

Union

1

3

0

0

3

7

1,241

0.43

0.50

Van Buren

0

0

0

0

1

1

2,553

0.21

0.24

Warren

8

7

0

0

10

25

691

0.77

0.90

Washington

21

12

0

0

8

41

1,242

0.43

0.50

Wayne

1

1

0

0

2

4

1,753

0.30

0.35

Weakley

3

3

0

0

2

8

1,942

0.28

0.32

White

5

4

0

0

5

14

755

0.71

0.82

Williamson

24

14

0

0

13

51

1,111

0.48

0.56

Wilson

31

16

0

0

12

59

680

0.79

0.91

 

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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