TENNESSEE FORECLOSURES DECREASE 17 PERCENT IN MARCH

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 7 Percent From a Year Ago

 

IRVINE, Calif. – April 23, 2007 – Tennessee reported 3,178 foreclosure filings in March, a 17 percent decrease from the previous month, and a 7 percent decrease from March 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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 foreclosures are down both in March and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that home price appreciation throughout the state was approximately 26 percent higher than the national average in 2006. This is likely contributing to the overall decline.”

 

Tennessee ranked 16th in the country in total foreclosures reported for March. The state’s foreclosure rate of one foreclosure filing for every 772 households ranks it 14th among the 50 states.

 

Shelby County accounts for largest share of state total

Shelby County reported the highest foreclosure total for the month, with 1,701 foreclosure filings. Davidson County came in second, reporting 209 foreclosure filings, followed by Rutherford County with 127 filings.

 

Obion County posts highest foreclosure rate

Obion County posted the highest foreclosure rate in Tennessee for March, reporting one foreclosure filing for every 163 households — 4.7 times the state average and 4.8 times the national average. Dekalb County reported the second highest rate, with one foreclosure filing for every 200 households — 3.9 times the state average and 3.9 times the national average. Shelby County posted the third highest foreclosure rate, with one foreclosure filing for every 213 households — 3.6 times the state average and 3.6 times the national average. 

 

State contributes 2 percent to national total

Total foreclosure filings in Tennessee accounted for 2 percent of the 149,150 foreclosure filings nationwide. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 775 U.S. households during 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 – March 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,135

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

Tennessee

1,052

1,065

0

0

1,061

3,178

772

1.00

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

8

0

0

0

11

19

1,708

0.45

0.45

Bedford

4

4

0

0

6

14

1,071

0.72

0.72

Benton

0

0

0

0

3

3

2,865

0.27

0.27

Blount

0

0

0

0

0

0

n/a

0.00

0.00

Bradley

16

1

0

0

14

31

1,188

0.65

0.65

Campbell

5

0

0

0

9

14

1,323

0.59

0.58

Cannon

0

1

0

0

3

4

1,355

0.57

0.57

Carroll

2

0

0

0

9

11

1,187

0.65

0.65

Carter

5

0

0

0

3

8

3,240

0.24

0.24

Cheatham

6

2

0

0

2

10

1,351

0.57

0.57

Chester

2

0

0

0

2

4

1,545

0.50

0.50

Claiborne

2

0

0

0

2

4

3,316

0.23

0.23

Cocke

1

0

0

0

3

4

3,961

0.20

0.19

Coffee

3

0

0

0

11

14

1,482

0.52

0.52

Crockett

0

0

0

0

3

3

2,046

0.38

0.38

Cumberland

1

0

0

0

8

9

2,494

0.31

0.31

Davidson

137

11

0

0

61

209

1,211

0.64

0.64

Decatur

0

0

0

0

3

3

2,149

0.36

0.36

Dekalb

0

0

0

0

42

42

200

3.87

3.85

Dickson

8

3

0

0

7

18

979

0.79

0.79

Dyer

6

1

0

0

13

20

806

0.96

0.96

Fayette

2

0

0

0

2

4

2,804

0.28

0.28

Fentress

0

0

0

0

1

1

7,598

0.10

0.10

Franklin

3

0

0

0

3

6

2,802

0.28

0.28

Gibson

10

1

0

0

20

31

679

1.14

1.14

Giles

3

1

0

0

2

6

2,186

0.35

0.35

Grainger

0

1

0

0

3

4

2,433

0.32

0.32

Greene

7

1

0

0

8

16

1,757

0.44

0.44

Grundy

0

0

0

0

2

2

3,141

0.25

0.25

Hamblen

2

0

0

0

8

10

2,469

0.31

0.31

Hamilton

19

11

0

0

37

67

2,010

0.39

0.38

Hancock

0

0

0

0

2

2

1,640

0.47

0.47

Hardeman

5

0

0

0

7

12

891

0.87

0.87

Hardin

8

2

0

0

5

15

854

0.91

0.90

Hawkins

3

1

0

0

8

12

2,035

0.38

0.38

Haywood

0

1

0

0

3

4

2,022

0.38

0.38

Henderson

1

0

0

0

8

9

1,272

0.61

0.61

Henry

1

0

0

0

2

3

5,261

0.15

0.15

Hickman

2

1

0

0

5

8

1,113

0.70

0.69

Houston

1

0

0

0

0

1

3,901

0.20

0.20

Humphreys

3

0

0

0

2

5

1,696

0.46

0.45

Jackson

1

0

0

0

0

1

5,163

0.15

0.15

Jefferson

2

0

0

0

8

10

1,932

0.40

0.40

Johnson

0

0

0

0

1

1

7,879

0.10

0.10

Knox

35

6

0

0

33

74

2,317

0.33

0.33

Lake

0

0

0

0

1

1

2,716

0.29

0.28

Lauderdale

1

1

0

0

4

6

1,761

0.44

0.44

Lawrence

3

2

0

0

9

14

1,202

0.65

0.64

Lewis

0

0

0

0

5

5

964

0.80

0.80

Lincoln

2

0

0

0

1

3

4,666

0.17

0.17

Loudon

4

4

0

0

5

13

1,329

0.58

0.58

Macon

2

0

0

0

2

4

2,224

0.35

0.35

Madison

8

1

0

0

11

20

1,910

0.41

0.40

Marion

3

0

0

0

2

5

2,428

0.32

0.32

Marshall

5

0

0

0

5

10

1,118

0.69

0.69

Maury

9

6

0

0

7

22

1,303

0.59

0.59

McMinn

8

1

0

0

17

26

832

0.93

0.93

McNairy

6

1

0

0

8

15

748

1.04

1.03

Meigs

0

0

0

0

4

4

1,297

0.60

0.59

Monroe

4

1

0

0

3

8

2,161

0.36

0.36

Montgomery

29

5

0

0

34

68

767

1.01

1.01

Moore

1

0

0

0

0

1

2,515

0.31

0.31

Morgan

1

0

0

0

1

2

3,857

0.20

0.20

Obion

0

0

0

0

89

89

163

4.76

4.74

Polk

1

0

0

0

4

5

1,474

0.53

0.52

Putnam

0

0

0

0

14

14

2,137

0.36

0.36

Rhea

2

0

0

0

5

7

1,795

0.43

0.43

Roane

5

0

0

0

4

9

2,597

0.30

0.30

Robertson

4

3

0

0

11

18

1,166

0.66

0.66

Rutherford

63

16

0

0

48

127

556

1.39

1.39

Scott

1

0

0

0

0

1

8,909

0.09

0.09

Sequatchie

3

0

0

0

4

7

702

1.10

1.10

Sevier

17

1

0

0

10

28

1,330

0.58

0.58

Shelby

462

959

0

0

280

1,701

213

3.64

3.62

Smith

0

0

0

0

1

1

7,665

0.10

0.10

Stewart

1

1

0

0

1

3

1,992

0.39

0.39

Sullivan

0

1

0

0

0

1

69,052

0.01

0.01

Sumner

29

4

0

0

16

49

1,258

0.62

0.61

Tipton

12

2

0

0

13

27

706

1.10

1.09

Trousdale

2

0

0

0

2

4

774

1.00

1.00

Unicoi

2

0

0

0

2

4

2,054

0.38

0.38

Union

4

0

0

0

1

5

1,583

0.49

0.49

Warren

6

1

0

0

7

14

1,192

0.65

0.65

Washington

6

1

0

0

13

20

2,389

0.32

0.32

Wayne

1

0

0

0

2

3

2,234

0.35

0.35

Weakley

3

0

0

0

7

10

1,493

0.52

0.52

White

0

2

0

0

6

8

1,274

0.61

0.61

Williamson

16

3

0

0

8

27

1,741

0.45

0.44

Wilson

12

0

0

0

9

21

1,663

0.47

0.46

 

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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