VERMONT FORECLOSURE ACTIVITY DOWN 55 PERCENT IN SEPTEMBER

Activity Up 150 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Vermont reported five foreclosure filings in September, a 55 percent decrease from the previous month, but still 150 percent above the number reported in September 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.

 

“Though foreclosure activity within the state remains grossly elevated compared to this time a year ago, improvement is being seen on a month-to-month basis,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s relatively stable job market should help to keep foreclosures down.”

 

Vermont ranked 50th in the country in total foreclosures reported for September. The state’s foreclosure rate of one foreclosure filing for every 61,469 households ranked it 50th among the 50 states.

 

Rutland County leads state in foreclosure activity

Rutland County led the state with two foreclosure filings for the month. Bennington, Chittenden and Washington counties each reported the second highest foreclosure total, with one foreclosure filing each.

 

Rutland County posts highest foreclosure rate for September

Rutland County tallied the highest foreclosure rate in Vermont for September, with one foreclosure filing for every 16,398 households — 3.8 times the state average. Bennington County registered the second highest foreclosure rate, with one foreclosure filing for every 20,342 households — three times the state average.

 

State makes minor contribution to nation’s monthly total

Total filings in Vermont accounted for less than 1 percent of the 223,538 foreclosure filings reported nationwide in September. The national total represents an 8 percent decrease from the previous month, but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 557 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.

 

 

                       Vermont Foreclosure Market by County – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Vermont

2

2

0

0

1

5

61,469

0.01

n/a

 

 

 

 

 

 

 

 

 

 

Addison

0

0

0

0

0

0

n/a

0.00

0.00

Bennington

0

1

0

0

0

1

20,342

0.03

3.02

Burlington

0

0

0

0

0

0

n/a

0.00

0.00

Caledonia

0

0

0

0

0

0

n/a

0.00

0.00

Charlotte

0

0

0

0

0

0

n/a

0.00

0.00

Chittenden

1

0

0

0

0

1

62,118

0.01

0.99

Essex

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Grand Isle

0

0

0

0

0

0

n/a

0.00

0.00

Lamoille

0

0

0

0

0

0

n/a

0.00

0.00

Orange

0

0

0

0

0

0

n/a

0.00

0.00

Orleans

0

0

0

0

0

0

n/a

0.00

0.00

Richmond

0

0

0

0

0

0

n/a

0.00

0.00

Rutland

1

0

0

0

1

2

16,398

0.03

3.74

South Burlington

0

0

0

0

0

0

n/a

0.00

0.00

Underhill

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

1

0

0

0

1

28,787

0.02

2.13

Windham

0

0

0

0

0

0

n/a

0.00

0.00

Windsor

0

0

0

0

0

0

n/a

0.00

0.00

 

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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