VERMONT FORECLOSURE ACTIVITY INCREASES 22 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 450 Percent From August 2006

 

IRVINE, Calif. – September 21, 2007 – Vermont reported 11 foreclosure filings in August, a 22 percent increase from the previous month, and a 450 percent increase from August 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.

 

Vermont foreclosures have increased both in August and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home prices have fallen significantly this year. This may be contributing to the increase. Even so, the state still holds the lowest foreclosure rate in the country.”

 

Vermont ranked lowest in the country in total foreclosures for the month. The state’s foreclosure rate of one foreclosure filing for every 27,940 households ranked it the lowest state again.

 

Chittenden County accounts for largest share of state total

Chittenden County reported the highest foreclosure total for the month, with four foreclosure filings. Rutland County came in second, with three foreclosure filings, followed by Bennington, Franklin, Orleans and Windham Counties, each reporting one foreclosure filing.

 

Highest foreclosure rate reported in Rutland County

Rutland County reported the highest foreclosure rate in the state for August, with one foreclosure filing for every 10,932 households — 2.6 times the state average. Orleans County posted the second highest foreclosure rate, with one foreclosure filing for every 15,299 households — 1.8 times the state average. Chittenden County posted the third highest foreclosure rate, with one foreclosure filing for every 15,530 households — 1.8 times the state average.

 

State contributes less than 1 percent to nation’s monthly total

Total foreclosure filings in Vermont accounted for less than 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

                                                                                               

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Vermont

4

6

0

0

1

11

27,940

0.02

n/a

 

 

 

 

 

 

 

 

 

 

Bennington

0

1

0

0

0

1

20,342

0.03

1.37

Chittenden

1

3

0

0

0

4

15,530

0.03

1.80

Franklin

0

0

0

0

1

1

20,475

0.02

1.36

Lamoille

0

0

0

0

0

0

n/a

0.00

0.00

Orleans

0

1

0

0

0

1

15,299

0.03

1.83

Rutland

3

0

0

0

0

3

10,932

0.05

2.56

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Windham

0

1

0

0

0

1

28,054

0.02

1.00

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).

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

 

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