TEXAS FORECLOSURE LEVEL RISES 3 PERCENT IN MARCH

State Activity Up 7 Percent From a Year Earlier

 

IRVINE, Calif. – April 23, 2007 – Texas reported 12,755 foreclosure filings in March, up 3 percent from a revised February total and up 7 percent 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.

 

Texas had the third highest total of foreclosure filings for the first quarter of 2007, and a rate of one filing for every 226 households,” said James J. Saccacio, chief executive officer of RealtyTrac. “Considering that unemployment in the state is continuing to decline, and home prices and appreciation are remaining pretty stable, most likely one of the best explanations for the constant rise in foreclosure activity is the resetting of interest rates on subprime adjustable rate mortgages.”

 

The Lone Star State’s foreclosure total was less than half of national leader California’s total, and about 1,500 less than second ranking Florida. However it was 4,000 filings ahead of fourth place Michigan. The remaining states in the nation’s top 10 for filings were Ohio, Illinois, Georgia, Colorado, New Jersey and Nevada. At one foreclosure filing for every 631 households — 1.2 times the national average — Texas had the 11th highest foreclosure rate in the country for the month.

 

Bulk of state’s foreclosure total from five counties

Five Texas counties accounted for 73 percent of all foreclosure activity in the state for March. Dallas County led the state, reporting 3,190 filings. Tarrant County reported the second highest total with 2,270 foreclosure filings. Harris County came in third place, reporting 1,503 filings for the month. Fourth highest total was tallied in Bexar County, with 1,466 foreclosure filings, followed by Collin County, which reported 874 filings.

 

Collin County posts state’s top foreclosure rate

Rockwall County reported the highest foreclosure rate in the state for March, tallying one foreclosure filing for every 135 households — 5.8 times the national average and 4.7 times the state average. Collin County reported the second highest county foreclosure rate, one foreclosure filing for every 223 households — 3.5 times the national average and 2.8 times the state average. Tarrant County posted the third highest rate at one filing for every 249 households — 2.5 times the state average and 3.1 times the national average. Fourth highest rate was reported in Dallas County with one filing for every 268 households — 2.4 times the state average and 2.9 times the national average. Bexar County had the fifth highest rate — one filing for every 287 households — 2.2 times the state average and 2.7 times the national average.

 

State a major contributor to national total for March

Total foreclosure filings in Texas accounted for 9 percent of the 149,150 foreclosure filings nationwide in March. 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 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.

 

 

                       Texas 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

Texas

52

10,264

0

0

2,439

12,755

631

1.23

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

0

1

0

0

0

1

18,436

0.04

0.03

Angelina

0

2

0

0

2

4

8,109

0.10

0.08

Aransas

0

0

0

0

0

0

n/a

0.00

0.00

Armstrong

0

0

0

0

0

0

 n/a

0.00

0.00

Atascosa

0

0

0

0

4

4

3,721

0.21

0.17

Austin

0

0

0

0

0

0

 n/a

0.00

0.00

Bandera

0

0

0

0

1

1

9,503

0.08

0.07

Bastrop

0

43

0

0

4

47

473

1.64

1.33

Bell

0

88

0

0

0

88

1,054

0.74

0.60

Bexar

5

1,195

0

0

266

1,466

287

2.70

2.20

Blanco

0

1

0

0

2

3

1,344

0.58

0.47

Bosque

0

0

0

0

0

0

 n/a

0.00

0.00

Bowie

0

0

0

0

0

0

 n/a

0.00

0.00

Brazoria

0

85

0

0

95

180

503

1.54

1.25

Brazos

0

2

0

0

9

11

5,366

0.14

0.12

Burnet

0

2

0

0

12

14

1,138

0.68

0.55

Caldwell

0

2

0

0

3

5

2,380

0.33

0.27

Calhoun

0

1

0

0

1

2

5,119

0.15

0.12

Callahan

0

0

0

0

0

0

 n/a

0.00

0.00

Cameron

1

1

0

0

0

2

59,827

0.01

0.01

Carson

0

0

0

0

0

0

 n/a

0.00

0.00

Cass

0

0

0

0

0

0

 n/a

0.00

0.00

Chambers

0

0

0

0

0

0

 n/a

0.00

0.00

Cherokee

0

0

0

0

0

0

 n/a

0.00

0.00

Collin

1

773

0

0

100

874

223

3.48

2.83

Comal

0

38

0

0

2

40

818

0.95

0.77

Cooke

0

0

0

0

0

0

 n/a

0.00

0.00

Coryell

0

1

0

0

0

1

21,776

0.04

0.03

Crosby

0

0

0

0

0

0

 n/a

0.00

0.00

Dallas

8

2,453

0

0

729

3,190

268

2.90

2.36

Deaf Smith

0

0

0

0

0

0

 n/a

0.00

0.00

Denton

0

419

0

0

52

471

357

2.17

1.77

Dickens

0

0

0

0

0

0

 n/a

0.00

0.00

Donley

0

0

0

0

0

0

 n/a

0.00

0.00

Eastland

0

0

0

0

1

1

9,547

0.08

0.07

Ector

0

15

0

0

0

15

3,300

0.23

0.19

El Paso

1

171

0

0

32

204

1,100

0.70

0.57

Ellis

1

122

0

0

8

131

298

2.60

2.12

Erath

0

0

0

0

0

0

 n/a

0.00

0.00

Fannin

0

1

0

0

0

1

12,887

0.06

0.05

Fayette

0

0

0

0

0

0

 n/a

0.00

0.00

Fort Bend

1

258

0

0

5

264

439

1.76

1.44

Freestone

0

0

0

0

0

0

 n/a

0.00

0.00

Frio

0

1

0

0

0

1

5,660

0.14

0.11

Galveston

0

101

0

0

0

101

1,106

0.70

0.57

Gillespie

0

0

0

0

0

0

 n/a

0.00

0.00

Gonzales

0

0

0

0

1

1

8,194

0.09

0.08

Grayson

4

3

0

0

30

37

1,306

0.59

0.48

Gregg

0

1

0

0

1

2

23,175

0.03

0.03

Grimes

0

0

0

0

0

0

 n/a

0.00

0.00

Guadalupe

0

25

0

0

2

27

1,244

0.62

0.51

Hale

0

0

0

0

0

0

 n/a

0.00

0.00

Hamilton

0

0

0

0

0

0

 n/a

0.00

0.00

Hardin

0

0

0

0

0

0

 n/a

0.00

0.00

Harris

3

1,484

0

0

16

1,503

864

0.90

0.73

Harrison

0

0

0

0

1

1

26,271

0.03

0.02

Hays

0

55

0

0

5

60

594

1.31

1.06

Henderson

0

0

0

0

1

1

35,935

0.02

0.02

Hidalgo

0

5

0

0

0

5

38,532

0.02

0.02

Hill

0

0

0

0

0

0

 n/a

0.00

0.00

Hood

1

1

0

0

26

28

682

1.14

0.92

Hopkins

0

0

0

0

1

1

14,020

0.06

0.05

Howard

0

1

0

0

0

1

13,589

0.06

0.05

Hunt

2

2

0

0

6

10

3,249

0.24

0.19

Hutchinson

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

0

0

4

4

1,636

0.47

0.39

Jasper

0

2

0

0

0

2

8,288

0.09

0.08

Jeff Davis

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

1

74

0

0

4

79

1,292

0.60

0.49

Jim Wells

0

0

0

0

0

0

 n/a

0.00

0.00

Johnson

1

36

0

0

32

69

671

1.16

0.94

Jones

0

0

0

0

0

0

 n/a

0.00

0.00

Kaufman

0

67

0

0

20

87

300

2.58

2.10

Kendall

0

1

0

0

1

2

4,805

0.16

0.13

Kerr

0

5

0

0

0

5

4,046

0.19

0.16

Lamar

0

1

0

0

1

2

10,557

0.07

0.06

Lampasas

0

4

0

0

0

4

1,900

0.41

0.33

Leon

0

0

0

0

1

1

8,299

0.09

0.08

Liberty

0

2

0

0

0

2

13,180

0.06

0.05

Live Oak

0

0

0

0

0

0

 n/a

0.00

0.00

Llano

0

0

0

0

0

0

 n/a

0.00

0.00

Lubbock

0

2

0

0

0

2

50,298

0.02

0.01

Lynn

0

0

0

0

0

0

 n/a

0.00

0.00

Marion

0

0

0

0

0

0

 n/a

0.00

0.00

Matagorda

0

0

0

0

10

10

1,861

0.42

0.34

Maverick

1

1

0

0

2

4

3,722

0.21

0.17

Mcculloch

0

0

0

0

0

0

 n/a

0.00

0.00

Mclennan

3

5

0

0

47

55

1,542

0.50

0.41

Medina

0

0

0

0

0

0

 n/a

0.00

0.00

Midland

0

25

0

0

9

34

1,355

0.57

0.47

Milam

0

0

0

0

0

0

 n/a

0.00

0.00

Montague

0

0

0

0

0

0

 n/a

0.00

0.00

Montgomery

1

206

0

0

3

210

537

1.44

1.18

Moore

0

0

0

0

0

0

 n/a

0.00

0.00

Morris

0

0

0

0

0

0

 n/a

0.00

0.00

Navarro

1

3

0

0

5

9

2,050

0.38

0.31

Nueces

1

46

0

0

34

81

1,519

0.51

0.42

Oldham

0

0

0

0

0

0

 n/a

0.00

0.00

Orange

0

1

0

0

11

12

2,898

0.27

0.22

Palo Pinto

0

0

0

0

0

0

 n/a

0.00

0.00

Panola

0

0

0

0

0

0

 n/a

0.00

0.00

Parker

0

3

0

0

29

32

1,065

0.73

0.59

Polk

0

0

0

0

0

0

 n/a

0.00

0.00

Potter

0

31

0

0

9

40

1,115

0.70

0.57

Rains

0

0

0

0

0

0

 n/a

0.00

0.00

Randall

0

18

0

0

6

24

1,803

0.43

0.35

Real

0

0

0

0

0

0

 n/a

0.00

0.00

Refugio

0

0

0

0

0

0

 n/a

0.00

0.00

Rockwall

0

99

0

0

15

114

135

5.76

4.69

Rusk

0

0

0

0

0

0

 n/a

0.00

0.00

Sabine

0

0

0

0

0

0

 n/a

0.00

0.00

San Augustine

0

0

0

0

0

0

 n/a

0.00

0.00

San Patricio

1

1

0

0

4

6

4,144

0.19

0.15

Smith

1

3

0

0

5

9

7,967

0.10

0.08

Starr

0

2

0

0

0

2

8,795

0.09

0.07

Swisher

0

0

0

0

0

0

 n/a

0.00

0.00

Tarrant

10

1,638

0

0

622

2,270

249

3.11

2.53

Taylor

0

1

0

0

0

1

52,056

0.01

0.01

Terry

0

0

0

0

0

0

 n/a

0.00

0.00

Tom Green

0

3

0

0

9

12

3,660

0.21

0.17

Travis

0

432

0

0

33

465

722

1.07

0.87

Trinity

0

0

0

0

0

0

 n/a

0.00

0.00

Tyler

0

0

0

0

0

0

 n/a

0.00

0.00

Upshur

0

0

0

0

3

3

4,977

0.16

0.13

Uvalde

0

0

0

0

0

0

 n/a

0.00

0.00

Val Verde

0

2

0

0

0

2

8,144

0.10

0.08

Van Zandt

0

0

0

0

1

1

20,896

0.04

0.03

Victoria

0

1

0

0

9

10

3,295

0.24

0.19

Walker

0

0

0

0

0

0

 n/a

0.00

0.00

Waller

0

0

0

0

0

0

 n/a

0.00

0.00

Washington

0

1

0

0

0

1

13,241

0.06

0.05

Webb

0

7

0

0

0

7

7,887

0.10

0.08

Wharton

0

0

0

0

0

0

 n/a

0.00

0.00

Wheeler

0

0

0

0

1

1

2,687

0.29

0.23

Wichita

1

1

0

0

21

23

2,318

0.33

0.27

Williamson

2

186

0

0

52

240

376

2.06

1.68

Wilson

0

1

0

0

0

1

12,110

0.06

0.05

Wise

0

0

0

0

13

13

1,480

0.52

0.43

Wood

0

0

0

0

5

5

3,588

0.22

0.18

 

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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