UTAH FORECLOSURE ACTIVITY DECREASE 7 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Activity Up 7 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 19, 2007 – Utah reported 981 foreclosure filings in November, a 7 percent decrease from the previous month, but still a 7 percent increase from November 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

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.

 

Utah’s employment growth continues to decline and the state’s foreclosure activity remains slightly elevated compared to this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, it is important to note that foreclosures are also down slightly compared from one month earlier, demonstrating that the state’s economy remains relatively stable overall.”

 

Utah ranked 28th in the country in total foreclosures reported for November. The state’s foreclosure rate of one foreclosure filing for every 890 households ranked it 17th among the 50 states.

 

Salt Lake County accounts for half of the state’s activity

Salt Lake County reported the highest foreclosure total in Utah for November, with 485 foreclosure filings for the month. Utah County reported the second highest state total, with 161 foreclosure filings. Weber County posted the third highest foreclosure total, with 146 foreclosure filings. Washington County had the fourth highest state total, with 76 filings entering some part of the foreclosure pipeline.

 

Weber County posts highest foreclosure rate for November

Weber County tallied the highest foreclosure rate in Utah for November, one foreclosure filing for every 536 households — 1.7 times the state average. Washington County registered the second highest foreclosure rate, one foreclosure filing for every 642 households — 1.4 times the state average. Tooele County posted the third highest foreclosure rate, one foreclosure filing for every 653 households — 1.4 times the state average.

 

State makes small contribution to national total

Total foreclosure filings in Utah accounted for less than 1 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represents a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 U.S. households for 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.

 

 

                         Utah Foreclosure Market by County – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Utah

147

725

0

0

109

981

890

0.69

n/a

 

 

 

 

 

 

 

 

 

Beaver

0

0

0

0

0

0

n/a

0.00

0.00

Box Elder

1

0

0

0

0

1

15,698

0.04

0.06

Cache

0

9

0

0

0

9

3,731

0.17

0.24

Carbon

0

0

0

0

0

0

n/a

0.00

0.00

Daggett

0

0

0

0

0

0

n/a

0.00

0.00

Davis

1

58

0

0

11

70

1,235

0.50

0.72

Duchesne

0

0

0

0

0

0

n/a

0.00

0.00

Emery

0

0

0

0

0

0

n/a

0.00

0.00

Garfield

0

0

0

0

0

0

n/a

0.00

0.00

Grand

0

0

0

0

0

0

n/a

0.00

0.00

Iron

0

0

0

0

0

0

n/a

0.00

0.00

Juab

0

0

0

0

0

0

n/a

0.00

0.00

Kane

0

0

0

0

0

0

n/a

0.00

0.00

Millard

0

0

0

0

0

0

n/a

0.00

0.00

Morgan

0

0

0

0

0

0

n/a

0.00

0.00

Piute

0

0

0

0

0

0

n/a

0.00

0.00

Rich

0

0

0

0

0

0

n/a

0.00

0.00

Salt Lake

138

316

0

0

31

485

696

0.89

1.28

San Juan

0

0

0

0

0

0

n/a

0.00

0.00

Sanpete

0

0

0

0

0

0

n/a

0.00

0.00

Sevier

0

0

0

0

0

0

n/a

0.00

0.00

Summit

0

0

0

0

0

0

n/a

0.00

0.00

Tooele

1

24

0

0

1

26

653

0.94

1.36

Uintah

0

0

0

0

0

0

n/a

0.00

0.00

Utah

2

143

0

0

16

161

791

0.78

1.13

Wasatch

0

5

0

0

2

7

1,169

0.53

0.76

Washington

1

62

0

0

13

76

642

0.96

1.39

Wayne

0

0

0

0

0

0

n/a

0.00

0.00

Weber

3

108

0

0

35

146

536

1.15

1.66

 

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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