TENNESSEE FORECLOSURES INCREASE 7 PERCENT IN APRIL

Activity Up 30 Percent From a Year Earlier

 

IRVINE, Calif. – May 18, 2007 – Tennessee reported 3,397 foreclosure filings in April, a 7 percent increase in activity from the previous month, and 30 percent above the level reported for the same month last year, 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.

 

“Until recently, Tennessee has been able 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 finally caught up to the state’s sluggish economy.”

 

Tennessee ranked 14th in the country in total foreclosures reported for March. The state posted the 13th highest foreclosure rate in the country for the month — one foreclosure filing for every 722 households — 1.1 times the national average.

 

Four counties account for majority of state foreclosure total

Foreclosure filings in four counties accounted 63 percent of all foreclosure activity in Tennessee for April. Shelby County led the state, reporting 1,591 foreclosure filings for April. Davidson County came in second, reporting 276 foreclosure filings. Third highest total was reported by Knox County with 164 filings, followed by Hamilton County with 104 filings in the foreclosure pipeline.

 

Shelby County leads state in foreclosure rate for the month

Shelby County posted the highest foreclosure rate in the state for April — one foreclosure filing for every 228 households — 3.2 times the state average and 3.4 times the national average.  Bedford County tallied the state’s second highest rate — one foreclosure filing for every 366 households — twice the state average and 2.1 times the national average. Third highest was Madison County with one foreclosure filing for every 509 households — 1.4 times the state average and 1.5 times the national average.

 

State makes contribution to national total

Total foreclosure filings in Tennessee accounted for 2 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,795

7,388

21,085

22,269

147,708

783

n/a

n/a

Tennessee

762

1,777

0

0

858

3,397

722

1.08

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

6

3

0

0

4

13

2,496

0.31

0.29

Bedford

10

12

0

0

19

41

366

2.14

1.97

Benton

1

1

0

0

2

4

2,149

0.36

0.34

Bledsoe

0

1

0

0

0

1

5,142

0.15

0.14

Blount

0

8

0

0

0

8

5,882

0.13

0.12

Bradley

16

14

0

0

15

45

818

0.96

0.88

Campbell

5

4

0

0

3

12

1,544

0.51

0.47

Cannon

0

3

0

0

1

4

1,355

0.58

0.53

Carroll

2

5

0

0

2

9

1,451

0.54

0.50

Carter

1

2

0

0

2

5

5,184

0.15

0.14

Cheatham

5

4

0

0

3

12

1,126

0.70

0.64

Chester

1

2

0

0

1

4

1,545

0.51

0.47

Claiborne

3

2

0

0

3

8

1,658

0.47

0.44

Cocke

2

0

0

0

2

4

3,961

0.20

0.18

Coffee

8

8

0

0

6

22

943

0.83

0.77

Crockett

1

2

0

0

2

5

1,228

0.64

0.59

Cumberland

1

5

0

0

2

8

2,805

0.28

0.26

Davidson

99

114

0

0

63

276

917

0.85

0.79

Decatur

0

0

0

0

3

3

2,149

0.36

0.34

Dekalb

0

2

0

0

0

2

4,205

0.19

0.17

Dickson

5

13

0

0

2

20

881

0.89

0.82

Dyer

3

6

0

0

4

13

1,240

0.63

0.58

Fayette

2

2

0

0

8

12

935

0.84

0.77

Fentress

0

1

0

0

3

4

1,900

0.41

0.38

Franklin

4

8

0

0

4

16

1,051

0.74

0.69

Gibson

4

7

0

0

8

19

1,108

0.71

0.65

Giles

1

2

0

0

8

11

1,192

0.66

0.61

Grainger

2

1

0

0

1

4

2,433

0.32

0.30

Greene

7

6

0

0

7

20

1,406

0.56

0.51

Grundy

1

1

0

0

1

3

2,094

0.37

0.34

Hamblen

17

7

0

0

1

25

988

0.79

0.73

Hamilton

20

52

0

0

32

104

1,295

0.60

0.56

Hancock

0

0

0

0

1

1

3,280

0.24

0.22

Hardeman

3

0

0

0

2

5

2,139

0.37

0.34

Hardin

4

1

0

0

0

5

2,561

0.31

0.28

Hawkins

5

5

0

0

4

14

1,744

0.45

0.41

Haywood

1

1

0

0

2

4

2,022

0.39

0.36

Henderson

1

6

0

0

2

9

1,272

0.62

0.57

Henry

1

0

0

0

2

3

5,261

0.15

0.14

Hickman

3

3

0

0

7

13

685

1.14

1.05

Houston

0

0

0

0

1

1

3,901

0.20

0.19

Humphreys

3

4

0

0

5

12

707

1.11

1.02

Jackson

0

0

0

0

1

1

5,163

0.15

0.14

Jefferson

2

5

0

0

2

9

2,147

0.36

0.34

Johnson

1

1

0

0

2

4

1,970

0.40

0.37

Knox

40

66

0

0

58

164

1,045

0.75

0.69

Lake

0

1

0

0

1

2

1,358

0.58

0.53

Lauderdale

2

4

0

0

1

7

1,509

0.52

0.48

Lawrence

3

7

0

0

12

22

765

1.02

0.94

Lewis

0

1

0

0

5

6

804

0.97

0.90

Lincoln

2

3

0

0

1

6

2,333

0.34

0.31

Loudon

3

9

0

0

10

22

785

1.00

0.92

Macon

1

1

0

0

4

6

1,482

0.53

0.49

Madison

24

22

0

0

29

75

509

1.54

1.42

Marion

2

1

0

0

1

4

3,035

0.26

0.24

Marshall

3

7

0

0

6

16

699

1.12

1.03

Maury

9

20

0

0

16

45

637

1.23

1.13

Mcminn

5

7

0

0

10

22

983

0.80

0.73

Mcnairy

2

7

0

0

10

19

590

1.33

1.22

Meigs

1

4

0

0

2

7

741

1.06

0.97

Monroe

1

3

0

0

5

9

1,921

0.41

0.38

Montgomery

16

19

0

0

11

46

1,134

0.69

0.64

Moore

1

0

0

0

0

1

2,515

0.31

0.29

Morgan

2

3

0

0

3

8

964

0.81

0.75

Obion

0

0

0

0

0

0

 

0.00

0.00

Overton

0

1

0

0

2

3

3,056

0.26

0.24

Perry

0

1

0

0

0

1

4,115

0.19

0.18

Pickett

0

1

0

0

0

1

2,956

0.26

0.24

Polk

0

1

0

0

1

2

3,685

0.21

0.20

Putnam

1

5

0

0

6

12

2,493

0.31

0.29

Rhea

3

5

0

0

3

11

1,142

0.69

0.63

Roane

8

9

0

0

6

23

1,016

0.77

0.71

Robertson

9

18

0

0

7

34

618

1.27

1.17

Rutherford

22

46

0

0

27

95

743

1.05

0.97

Scott

0

1

0

0

0

1

8,909

0.09

0.08

Sequatchie

1

1

0

0

4

6

819

0.96

0.88

Sevier

12

19

0

0

21

52

716

1.09

1.01

Shelby

259

1,052

0

0

280

1,591

228

3.43

3.17

Smith

1

1

0

0

3

5

1,533

0.51

0.47

Stewart

0

1

0

0

1

2

2,989

0.26

0.24

Sullivan

1

17

0

0

0

18

3,836

0.20

0.19

Sumner

24

18

0

0

17

59

1,045

0.75

0.69

Tipton

6

10

0

0

12

28

681

1.15

1.06

Trousdale

0

1

0

0

3

4

774

1.01

0.93

Unicoi

1

1

0

0

3

5

1,643

0.48

0.44

Union

3

1

0

0

1

5

1,583

0.49

0.46

Warren

2

4

0

0

4

10

1,669

0.47

0.43

Washington

8

14

0

0

7

29

1,648

0.48

0.44

Wayne

0

1

0

0

2

3

2,234

0.35

0.32

Weakley

3

4

0

0

5

12

1,244

0.63

0.58

White

4

2

0

0

3

9

1,132

0.69

0.64

Williamson

15

20

0

0

6

41

1,146

0.68

0.63

Wilson

11

13

0

0

6

30

1,164

0.67

0.62

 

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 construction properties, 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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