TEXAS FORECLOSURES INCREASE 4 PERCENT IN JANUARY

Activity Up Less Than 1 Percent From a Year Ago; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Feb. 25, 2007 – For the second consecutive month Texas led the nation in foreclosure activity, beating out second place California for top honors by less than 300 new foreclosure filings in January. The 14,728 new foreclosure filings reported by Texas for the month represents an increase less than 4 percent from December and a negligible uptick from January 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 850,000 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 is starting off 2007 just like it started and ended 2006 — at the top of the heap for total foreclosures reported,” said James J. Saccacio, chief executive officer of RealtyTrac. “Overall, the state’s economic indicators such as job growth, home sales and price appreciation, appear to be moving in a positive direction. However, this latest upward movement in foreclosure levels may be partly attributable to the resetting of interest rates on risky sub-prime mortgages used by many homeowners the past couple of years to finance their home purchases.”

 

The Lone Star state’s foreclosure rate of one new foreclosure filing for every 547 households ranked sixth in the country for January, up from 10th highest in December.

 

Four counties represent more than half of state’s foreclosure activity

Total foreclosure filings in four counties combined accounted for 65 percent of all new foreclosures in Texas for January. Tarrant County documented the state’s highest total, reporting 3,037 new foreclosure filings for the month. Dallas County documented the second highest total in the state, reporting 2,851 new filings for the month. Third highest total was reported in Harris County, documenting 2,583 new filings. Bexar County rounded out the state’s top four for the month, reporting 1,140 new filings in the foreclosure pipeline.

 

Rockwall County leads state in foreclosure rate

Rockwall County tallied the highest foreclosure rate in Texas for January, with one new foreclosure filing for every 127 households — 4.3 times the state average and seven times the national average. Tarrant County registered the second highest rate, with one new foreclosure filing for every 186 households — three times the state average and 4.8 times the national average. Ellis County reported one new foreclosure filing for every 196 households — 2.8 times the state average and 4.5 times the national average — third highest rate in the state. Kaufman County posted the state’s fourth highest rate — one new foreclosure filing for every 220 households— 2.5 times the state average and four times the national average.

 

State makes significant contribution to national total

Texas’ foreclosure total accounted for 11 percent of the 130,511 new foreclosure filings nationwide in January. The national total was up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 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.

 

 

Texas Foreclosure Market by County – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Texas

19

11,737

0

0

2,972

14,728

547

1.62

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

0

1

0

0

1

2

9,218

0.10

0.06

Angelina

0

1

0

0

2

3

10,812

0.08

0.05

Aransas

0

0

0

0

2

2

6,424

0.14

0.09

Atascosa

0

0

0

0

0

0

n/a 

0.00

0.00

Austin

0

2

0

0

0

2

5,103

0.17

0.11

Bandera

0

0

0

0

0

0

n/a 

0.00

0.00

Bastrop

0

43

0

0

1

44

506

1.75

1.08

Bell

0

62

0

0

0

62

1,496

0.59

0.37

Bexar

2

1,091

0

0

47

1,140

370

2.40

1.48

Blanco

0

0

0

0

1

1

4,031

0.22

0.14

Bosque

0

0

0

0

2

2

4,322

0.20

0.13

Bowie

0

1

0

0

0

1

36,463

0.02

0.01

Brazoria

2

92

0

0

40

134

676

1.31

0.81

Brazos

0

4

0

0

20

24

2,459

0.36

0.22

Brooks

0

1

0

0

0

1

3,203

0.28

0.17

Brown

0

0

0

0

3

3

5,963

0.15

0.09

Burnet

0

2

0

0

9

11

1,448

0.61

0.38

Caldwell

0

10

0

0

0

10

1,190

0.74

0.46

Callahan

0

0

0

0

0

0

n/a 

0.00

0.00

Cameron

1

65

0

0

0

66

1,813

0.49

0.30

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

1

0

0

1

2

5,168

0.17

0.11

Cherokee

0

0

0

0

0

0

n/a 

0.00

0.00

Clay

0

0

0

0

0

0

n/a 

0.00

0.00

Coleman

0

0

0

0

0

0

n/a 

0.00

0.00

Collin

1

713

0

0

83

797

245

3.62

2.24

Comal

0

44

0

0

10

54

606

1.46

0.90

Cooke

0

0

0

0

0

0

n/a 

0.00

0.00

Coryell

0

2

0

0

0

2

10,888

0.08

0.05

Crosby

0

0

0

0

0

0

n/a 

0.00

0.00

Dallas

1

2,636

0

0

214

2,851

300

2.96

1.82

Deaf Smith

0

1

0

0

0

1

6,914

0.13

0.08

Denton

1

547

0

0

25

573

293

3.02

1.86

Ector

0

6

0

0

0

6

8,250

0.11

0.07

El Paso

0

175

0

0

53

228

984

0.90

0.56

Ellis

0

186

0

0

13

199

196

4.51

2.78

Erath

0

0

0

0

0

0

n/a 

0.00

0.00

Falls

0

0

0

0

0

0

n/a 

0.00

0.00

Fannin

0

0

0

0

0

0

n/a 

0.00

0.00

Fayette

0

0

0

0

0

0

n/a 

0.00

0.00

Fort Bend

0

360

0

0

86

446

260

3.41

2.10

Freestone

0

0

0

0

0

0

n/a 

0.00

0.00

Galveston

0

112

0

0

116

228

490

1.81

1.12

Garza

0

0

0

0

0

0

n/a 

0.00

0.00

Gillespie

0

0

0

0

0

0

n/a 

0.00

0.00

Gonzales

0

0

0

0

3

3

2,731

0.32

0.20

Gray

0

0

0

0

0

0

n/a 

0.00

0.00

Grayson

0

3

0

0

25

28

1,726

0.51

0.32

Gregg

0

2

0

0

1

3

15,450

0.06

0.04

Grimes

0

0

0

0

0

0

n/a 

0.00

0.00

Guadalupe

1

28

0

0

17

46

730

1.21

0.75

Hale

0

0

0

0

0

0

n/a 

0.00

0.00

Hardin

0

1

0

0

0

1

19,836

0.04

0.03

Harris

4

1,822

0

0

757

2,583

503

1.76

1.09

Harrison

0

1

0

0

3

4

6,568

0.13

0.08

Hays

0

38

0

0

3

41

869

1.02

0.63

Hemphill

0

0

0

0

0

0

n/a 

0.00

0.00

Henderson

0

0

0

0

1

1

35,935

0.02

0.02

Hidalgo

0

35

0

0

0

35

5,505

0.16

0.10

Hill

0

0

0

0

4

4

3,656

0.24

0.15

Hockley

0

1

0

0

0

1

9,148

0.10

0.06

Hood

0

1

0

0

7

8

2,388

0.37

0.23

Hopkins

0

0

0

0

0

0

n/a 

0.00

0.00

Houston

0

1

0

0

0

1

10,730

0.08

0.05

Howard

0

0

0

0

0

0

n/a 

0.00

0.00

Hunt

0

1

0

0

2

3

10,830

0.08

0.05

Hutchinson

0

0

0

0

0

0

n/a 

0.00

0.00

Jackson

0

0

0

0

1

1

6,545

0.14

0.08

Jasper

0

0

0

0

0

0

n/a 

0.00

0.00

Jeff Davis

0

0

0

0

0

0

n/a 

0.00

0.00

Jefferson

0

86

0

0

30

116

880

1.01

0.62

Jim Wells

0

0

0

0

0

0

n/a 

0.00

0.00

Johnson

0

25

0

0

45

70

661

1.34

0.83

Jones

0

0

0

0

0

0

n/a 

0.00

0.00

Kaufman

3

65

0

0

51

119

220

4.03

2.49

Kendall

0

6

0

0

0

6

1,602

0.55

0.34

Kerr

0

0

0

0

0

0

n/a 

0.00

0.00

Kleberg

0

0

0

0

2

2

6,372

0.14

0.09

Knox

0

0

0

0

0

0

n/a 

 

 

La Salle

0

0

0

0

1

1

2,436

0.36

0.22

Lamar

0

0

0

0

0

0

n/a 

0.00

0.00

Lampasas

0

1

0

0

0

1

7,601

0.12

0.07

Lee

0

0

0

0

0

0

n/a 

0.00

0.00

Liberty

0

2

0

0

3

5

5,272

0.17

0.10

Limestone

0

0

0

0

0

0

n/a 

0.00

0.00

Live Oak

0

0

0

0

0

0

n/a 

0.00

0.00

Llano

0

0

0

0

1

1

11,829

0.07

0.05

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

Madison

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

4

0

0

0

4

4,653

0.19

0.12

Mclennan

0

4

0

0

34

38

2,231

0.40

0.24

Medina

0

11

0

0

0

11

1,348

0.66

0.41

Midland

0

27

0

0

8

35

1,317

0.67

0.42

Milam

0

0

0

0

0

0

n/a 

0.00

0.00

Mitchell

0

0

0

0

1

1

4,168

0.21

0.13

Montgomery

1

255

0

0

77

333

339

2.62

1.61

Morris

0

0

0

0

0

0

n/a 

0.00

0.00

Nacogdoches

0

0

0

0

0

0

n/a 

0.00

0.00

Navarro

0

0

0

0

17

17

1,085

0.82

0.50

Nueces

0

23

0

0

34

57

2,159

0.41

0.25

Orange

0

1

0

0

5

6

5,797

0.15

0.09

Palo Pinto

0

0

0

0

1

1

14,102

0.06

0.04

Panola

0

0

0

0

0

0

n/a 

0.00

0.00

Parker

0

8

0

0

28

36

947

0.94

0.58

Polk

0

0

0

0

0

0

n/a 

0.00

0.00

Potter

0

40

0

0

10

50

892

0.99

0.61

Rains

0

0

0

0

0

0

n/a 

0.00

0.00

Randall

0

24

0

0

11

35

1,236

0.72

0.44

Red River

0

0

0

0

0

0

n/a 

0.00

0.00

Refugio

0

1

0

0

0

1

3,669

0.24

0.15

Rockwall

0

117

0

0

4

121

127

6.98

4.31

Rusk

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 Jacinto

0

0

0

0

1

1

11,520

0.08

0.05

San Patricio

0

0

0

0

5

5

4,973

0.18

0.11

Smith

0

3

0

0

3

6

11,950

0.07

0.05

Starr

0

3

0

0

0

3

5,863

0.15

0.09

Stephens

0

0

0

0

0

0

n/a 

0.00

0.00

Swisher

0

0

0

0

0

0

n/a 

0.00

0.00

Tarrant

2

2,251

0

0

784

3,037

186

4.76

2.93

Taylor

0

3

0

0

0

3

17,352

0.05

0.03

Tom Green

0

0

0

0

14

14

3,137

0.28

0.17

Travis

0

441

0

0

36

477

704

1.26

0.78

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

1

0

0

0

1

14,930

0.06

0.04

Val Verde

0

0

0

0

0

0

n/a 

0.00

0.00

Van Zandt

0

0

0

0

1

1

20,896

0.04

0.03

Victoria

0

2

0

0

17

19

1,734

0.51

0.32

Walker

0

1

0

0

0

1

21,099

0.04

0.03

Waller

0

3

0

0

0

3

3,998

0.22

0.14

Webb

0

7

0

0

0

7

7,887

0.11

0.07

Wharton

0

1

0

0

0

1

16,606

0.05

0.03

Wichita

0

1

0

0

45

46

1,159

0.76

0.47

Willacy

0

1

0

0

0

1

6,727

0.13

0.08

Williamson

0

223

0

0

140

363

249

3.56

2.20

Wilson

0

1

0

0

0

1

12,110

0.07

0.05

Wise

0

0

0

0

10

10

1,924

0.46

0.28

Wood

0

1

0

0

0

1

17,939

0.05

0.03

 

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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