TENNESSEE FORECLOSURE ACTIVITY UP 13 PERCENT IN OCTOBER

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Activity Up 24 Percent From October 2006

 

IRVINE, Calif. – Nov. 26, 2007 – Tennessee reported 4,549 foreclosure filings in October, a 13 percent increase from the previous month, and a 24 percent increase from October 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.

 

“Foreclosure activity in Tennessee continues to rise, even though the state’s unemployment rate is down .5 percent from this time last year,” 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 14th in the country in total foreclosures reported for October. The state’s foreclosure rate of one foreclosure filing for every 580 households ranked it 11th among the 50 states.

 

Shelby County leads state in foreclosure activity

Shelby County led the state in foreclosure activity in October, with 1,915 foreclosure filings for the month. Davidson County reported the second highest foreclosure total, with 417 foreclosure filings. Knox County posted the third highest foreclosure total, with 215 foreclosure filings. Rutherford County posted the fourth highest foreclosure total, with 182 foreclosure filings entering some part of the foreclosure pipeline.

 

Shelby County posts highest foreclosure rate

Shelby County tallied the highest foreclosure rate in Tennessee for October, with one foreclosure filing for every 203 households — 2.9 times the state average and 2.7 times the national average. Smith County registered the second highest foreclosure rate, with one foreclosure filing for every 421 households. Madison County posted the third highest foreclosure rate, with one foreclosure filing for every 473 households.

 

State makes contribution to national total

Total foreclosure filings in Tennessee accounted for 2 percent of the 224,451 foreclosure filings reported nationwide in October. The national total represents a 2 percent increase from the previous month, and is 94 percent above the total reported for October 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 555 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 – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

n/a

n/a

Tennessee

1,528

1,750

0

0

1,271

4,549

580

0.96

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

12

12

0

0

5

29

1,161

0.48

0.50

Bedford

10

10

0

0

9

29

569

0.97

1.02

Benton

4

2

0

0

1

7

1,276

0.43

0.45

Bledsoe

0

1

0

0

0

1

5,360

0.10

0.11

Blount

0

21

0

0

0

21

2,413

0.23

0.24

Bradley

20

10

0

0

16

46

865

0.64

0.67

Campbell

7

10

0

0

10

27

702

0.79

0.83

Cannon

1

0

0

0

1

2

2,819

0.20

0.21

Carroll

4

2

0

0

4

10

1,348

0.41

0.43

Carter

7

5

0

0

5

17

1,581

0.35

0.37

Cheatham

6

10

0

0

4

20

755

0.74

0.77

Chester

3

0

0

0

2

5

1,314

0.42

0.44

Claiborne

3

2

0

0

3

8

1,826

0.30

0.32

Clay

1

0

0

0

0

1

4,131

0.13

0.14

Cocke

8

3

0

0

8

19

865

0.64

0.67

Coffee

7

4

0

0

5

16

1,369

0.41

0.42

Crockett

0

0

0

0

5

5

1,261

0.44

0.46

Cumberland

4

5

0

0

2

11

2,156

0.26

0.27

Davidson

193

135

0

0

89

417

649

0.86

0.89

Decatur

1

2

0

0

2

5

1,342

0.41

0.43

Dekalb

0

1

0

0

1

2

4,353

0.13

0.13

Dickson

7

5

0

0

9

21

922

0.60

0.63

Dyer

6

4

0

0

11

21

806

0.69

0.72

Fayette

3

7

0

0

5

15

850

0.65

0.68

Fentress

5

1

0

0

2

8

986

0.56

0.59

Franklin

3

2

0

0

5

10

1,833

0.30

0.32

Gibson

15

11

0

0

8

34

645

0.86

0.90

Giles

2

2

0

0

7

11

1,241

0.45

0.47

Grainger

3

4

0

0

3

10

1,016

0.55

0.57

Greene

9

7

0

0

14

30

997

0.56

0.58

Grundy

1

2

0

0

2

5

1,305

0.43

0.44

Hamblen

4

15

0

0

15

34

763

0.73

0.76

Hamilton

60

56

0

0

96

212

675

0.82

0.86

Hancock

0

0

0

0

0

0

n/a 

0.00

0.00

Hardeman

4

1

0

0

8

13

862

0.64

0.67

Hardin

4

2

0

0

3

9

1,486

0.37

0.39

Hawkins

8

7

0

0

10

25

1,026

0.54

0.56

Haywood

0

8

0

0

5

13

648

0.86

0.89

Henderson

1

2

0

0

5

8

1,496

0.37

0.39

Henry

1

4

0

0

8

13

1,269

0.44

0.46

Hickman

4

5

0

0

5

14

661

0.84

0.88

Houston

1

0

0

0

2

3

1,351

0.41

0.43

Humphreys

5

4

0

0

3

12

739

0.75

0.78

Jackson

0

0

0

0

2

2

2,681

0.21

0.22

Jefferson

9

8

0

0

4

21

1,018

0.54

0.57

Johnson

3

0

0

0

0

3

2,818

0.20

0.21

Knox

75

75

0

0

65

215

869

0.64

0.67

Lake

0

0

0

0

1

1

2,745

0.20

0.21

Lauderdale

6

4

0

0

7

17

665

0.83

0.87

Lawrence

4

6

0

0

7

17

1,017

0.55

0.57

Lewis

1

0

0

0

3

4

1,250

0.44

0.46

Lincoln

3

0

0

0

5

8

1,801

0.31

0.32

Loudon

5

10

0

0

6

21

885

0.63

0.65

Macon

3

4

0

0

3

10

934

0.59

0.62

Madison

24

34

0

0

30

88

473

1.17

1.23

Marion

4

5

0

0

5

14

942

0.59

0.62

Marshall

5

6

0

0

4

15

821

0.68

0.71

Maury

17

21

0

0

13

51

645

0.86

0.90

McMinn

18

8

0

0

11

37

606

0.92

0.96

McNairy

6

5

0

0

9

20

582

0.95

1.00

Meigs

0

0

0

0

2

2

2,755

0.20

0.21

Monroe

6

8

0

0

5

19

966

0.57

0.60

Montgomery

37

27

0

0

17

81

755

0.73

0.77

Moore

0

0

0

0

1

1

2,781

0.20

0.21

Morgan

4

1

0

0

2

7

1,148

0.48

0.51

Obion

0

1

0

0

0

1

14,866

0.04

0.04

Overton

0

2

0

0

0

2

4,757

0.12

0.12

Perry

0

1

0

0

0

1

4,286

0.13

0.14

Pickett

0

0

0

0

1

1

3,072

0.18

0.19

Polk

2

1

0

0

3

6

1,303

0.43

0.45

Putnam

2

6

0

0

4

12

2,424

0.23

0.24

Rhea

4

3

0

0

7

14

963

0.58

0.60

Roane

13

8

0

0

9

30

808

0.69

0.72

Robertson

13

17

0

0

14

44

545

1.02

1.06

Rutherford

82

66

0

0

34

182

495

1.12

1.17

Scott

0

1

0

0

1

2

4,629

0.12

0.13

Sequatchie

0

1

0

0

3

4

1,288

0.43

0.45

Sevier

20

14

0

0

17

51

804

0.69

0.72

Shelby

545

891

0

0

479

1,915

203

2.73

2.85

Smith

11

3

0

0

5

19

421

1.32

1.38

Stewart

0

2

0

0

2

4

1,556

0.36

0.37

Sullivan

0

13

0

0

5

18

4,013

0.14

0.14

Sumner

51

22

0

0

12

85

688

0.81

0.84

Tipton

12

18

0

0

16

46

477

1.16

1.21

Trousdale

2

2

0

0

0

4

819

0.68

0.71

Unicoi

1

2

0

0

5

8

1,066

0.52

0.54

Union

4

2

0

0

0

6

1,448

0.38

0.40

Van Buren

1

0

0

0

1

2

1,277

0.43

0.45

Warren

6

13

0

0

6

25

691

0.80

0.84

Washington

22

14

0

0

14

50

1,019

0.54

0.57

Wayne

1

1

0

0

2

4

1,753

0.32

0.33

Weakley

3

4

0

0

6

13

1,195

0.46

0.49

White

7

1

0

0

5

13

813

0.68

0.71

Williamson

29

14

0

0

6

49

1,157

0.48

0.50

Wilson

30

21

0

0

14

65

617

0.90

0.94

 

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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