TENNESSEE FORECLOSURES INCREASE 32 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 96 Percent From August 2006

 

IRVINE, Calif. – September 21, 2007 – Tennessee reported 4,639 foreclosure filings in August, a 32 percent increase from the previous month and 96 percent above the number reported in August 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate — one foreclosure filing for every 569 households — was the 11th highest in the nation.

 

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.

 

“For most of 2007, Tennessee has managed to keep foreclosure activity down despite its elevated unemployment rate,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, foreclosures are a lagging indicator of economic growth and it seems that foreclosure activity in Tennessee has caught up to match the state’s sluggish economy.”

 

Tennessee documented the 13th highest foreclosure total in the country in August.

 

Shelby County account for nearly half of all foreclosure activity

Shelby County led the state with 2,275 foreclosure filings for the month. Davidson County reported the second highest foreclosure total, with 365 foreclosure filings. Knox County came in third highest, with 208 foreclosure filings. Rutherford County had the fourth highest foreclosure total, with 175 filings entering some part of the foreclosure pipeline.

 

Shelby County posts highest foreclosure rate for August

Shelby County topped the list of highest county foreclosure rates in the state for August, with one foreclosure filing for every 171 households — 3.3 times the state average and 3 times the national average. DeKalb County had the second highest foreclosure rate, with one foreclosure filing for every 322 households — 1.8 times the state average and 1.6 times the national average. Bedford County posted the third highest foreclosure rate in the state, with one foreclosure filing for every 413 households — 1.4 times the state average. Rutherford County had the fourth highest rate, with one foreclosure filing for every 515 households.

 

State a contributor to national total

Tennessee accounted for 2 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Tennessee

1,281

2,090

0

0

1,266

4,639

569

0.90

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

9

10

0

0

10

29

1,161

0.44

0.49

Bedford

18

13

0

0

9

40

413

1.24

1.38

Benton

0

0

0

0

5

5

1,787

0.29

0.32

Bledsoe

1

1

0

0

1

3

1,787

0.29

0.32

Blount

0

9

0

0

0

9

5,630

0.09

0.10

Bradley

18

17

0

0

8

43

926

0.55

0.61

Campbell

9

5

0

0

15

29

654

0.78

0.87

Cannon

1

3

0

0

1

5

1,128

0.45

0.50

Carroll

4

6

0

0

8

18

749

0.68

0.76

Carter

6

5

0

0

5

16

1,680

0.30

0.34

Cheatham

4

2

0

0

9

15

1,006

0.51

0.56

Chester

1

3

0

0

3

7

938

0.54

0.61

Claiborne

6

5

0

0

7

18

811

0.63

0.70

Cocke

1

2

0

0

3

6

2,738

0.19

0.21

Coffee

6

9

0

0

5

20

1,095

0.47

0.52

Crockett

1

6

0

0

2

9

701

0.73

0.81

Cumberland

1

2

0

0

4

7

3,389

0.15

0.17

Davidson

167

130

0

0

68

365

741

0.69

0.77

Decatur

2

0

0

0

1

3

2,237

0.23

0.25

DeKalb

0

4

0

0

23

27

322

1.58

1.76

Dickson

6

8

0

0

5

19

1,019

0.50

0.56

Dyer

5

9

0

0

16

30

564

0.90

1.01

Fayette

3

4

0

0

6

13

981

0.52

0.58

Fentress

1

0

0

0

2

3

2,629

0.19

0.22

Franklin

3

6

0

0

6

15

1,222

0.42

0.47

Gibson

6

7

0

0

16

29

756

0.68

0.75

Giles

5

2

0

0

7

14

975

0.52

0.58

Grainger

1

3

0

0

3

7

1,451

0.35

0.39

Greene

3

9

0

0

10

22

1,360

0.38

0.42

Grundy

1

0

0

0

1

2

3,262

0.16

0.17

Hamblen

8

10

0

0

6

24

1,081

0.47

0.53

Hamilton

41

56

0

0

76

173

827

0.62

0.69

Hardeman

1

3

0

0

3

7

1,600

0.32

0.36

Hardin

2

8

0

0

6

16

836

0.61

0.68

Hawkins

3

4

0

0

5

12

2,138

0.24

0.27

Haywood

0

3

0

0

0

3

2,810

0.18

0.20

Henderson

4

1

0

0

2

7

1,709

0.30

0.33

Henry

3

4

0

0

4

11

1,500

0.34

0.38

Hickman

5

4

0

0

6

15

617

0.83

0.92

Houston

0

2

0

0

0

2

2,026

0.25

0.28

Humphreys

1

1

0

0

1

3

2,956

0.17

0.19

Jackson

0

2

0

0

0

2

2,681

0.19

0.21

Jefferson

12

3

0

0

7

22

972

0.53

0.59

Johnson

2

2

0

0

1

5

1,691

0.30

0.34

Knox

65

55

0

0

88

208

898

0.57

0.63

Lake

2

0

0

0

0

2

1,373

0.37

0.41

Lauderdale

2

6

0

0

2

10

1,130

0.45

0.50

Lawrence

5

3

0

0

5

13

1,329

0.38

0.43

Lewis

3

0

0

0

6

9

555

0.92

1.02

Lincoln

5

5

0

0

1

11

1,310

0.39

0.43

Loudon

8

10

0

0

8

26

715

0.71

0.80

Macon

4

5

0

0

4

13

718

0.71

0.79

Madison

14

20

0

0

41

75

554

0.92

1.03

Marion

0

3

0

0

1

4

3,296

0.15

0.17

Marshall

9

3

0

0

6

18

685

0.75

0.83

Maury

14

12

0

0

10

36

914

0.56

0.62

McMinn

6

14

0

0

13

33

679

0.75

0.84

McNairy

4

3

0

0

3

10

1,165

0.44

0.49

Meigs

0

0

0

0

2

2

2,755

0.19

0.21

Monroe

3

10

0

0

11

24

765

0.67

0.74

Montgomery

25

26

0

0

14

65

941

0.54

0.60

Moore

0

0

0

0

1

1

2,781

0.18

0.20

Morgan

0

1

0

0

3

4

2,009

0.25

0.28

Obion

0

3

0

0

1

4

3,717

0.14

0.15

Overton

1

0

0

0

1

2

4,757

0.11

0.12

Perry

0

0

0

0

2

2

2,143

0.24

0.27

Polk

1

0

0

0

4

5

1,563

0.33

0.36

Putnam

10

8

0

0

6

24

1,212

0.42

0.47

Rhea

7

13

0

0

4

24

561

0.91

1.01

Roane

12

6

0

0

7

25

970

0.53

0.59

Robertson

8

9

0

0

11

28

856

0.60

0.66

Rutherford

70

59

0

0

46

175

515

0.99

1.10

Scott

0

1

0

0

0

1

9,257

0.06

0.06

Sequatchie

3

3

0

0

1

7

736

0.69

0.77

Sevier

31

12

0

0

22

65

630

0.81

0.90

Shelby

476

1,317

0

0

482

2,275

171

2.98

3.32

Smith

3

0

0

0

2

5

1,600

0.32

0.36

Stewart

1

0

0

0

0

1

6,222

0.08

0.09

Sullivan

1

13

0

0

0

14

5,160

0.10

0.11

Sumner

33

24

0

0

13

70

836

0.61

0.68

Tipton

13

16

0

0

13

42

523

0.98

1.09

Trousdale

1

0

0

0

2

3

1,092

0.47

0.52

Unicoi

2

0

0

0

2

4

2,132

0.24

0.27

Union

4

4

0

0

3

11

790

0.65

0.72

Warren

7

3

0

0

7

17

1,016

0.50

0.56

Washington

15

16

0

0

12

43

1,185

0.43

0.48

Wayne

0

0

0

0

1

1

7,013

0.07

0.08

Weakley

4

4

0

0

4

12

1,295

0.39

0.44

White

4

3

0

0

7

14

755

0.68

0.75

Williamson

17

10

0

0

3

30

1,890

0.27

0.30

Wilson

17

7

0

0

17

41

979

0.52

0.58

 

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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