VIRGINIA FORECLOSURE ACTIVITY DOWN 49 PERCENT IN SEPTEMBER

Yearly Total Up 385 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Virginia reported 1,941 foreclosure filings in September, a 49 percent decrease from the previous month, but still a 385 percent increase from 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.

 

Virginia foreclosures are up nearly five times what they were this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home sales have decreased further than the national average during the past year. This is likely contributing to the overall rise.”

 

Virginia ranked 21st in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 1,636 households ranked it 31st among the 50 states.

 

Loudoun County reports biggest foreclosure total

Loudoun County documented the highest foreclosure total for the month, with 320 foreclosure filings. Fairfax County reported the second highest foreclosure total, reporting 294 foreclosure filings for the month. Prince William County documented the third highest foreclosure total, with 291 foreclosure filings. Frederick County posted the fourth highest foreclosure total, with 180 filings, followed by Stafford County with 133 foreclosure filings.

 

Frederick County posts highest foreclosure rate

Frederick County posted the highest foreclosure rate in Virginia for September, with one foreclosure filing for every 151 households — 10.8 times the state average and 3.7 times the national average. Loudoun County posted the second highest foreclosure rate, with one foreclosure filing for every 292 households — 5.6 times the state average and 1.9 times the national average. Stafford County posted the third highest foreclosure rate, with one filing for every 302 households — 5.4 times the state average. Orange County posted the fourth highest foreclosure rate, with one foreclosure filing for every 388 households — 4.2 times the state average.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Virginia accounted for 1 percent of the 223,538 foreclosure filings 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 increased 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.

 

 

                                              Virginia 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

Virginia

196

1,455

0

0

290

1,941

1,636

0.34

n/a

 

 

 

 

 

 

 

 

 

 

Accomack

0

1

0

0

0

1

20,578

0.03

0.07

Albemarle

0

1

0

0

0

1

39,065

0.01

0.04

Alexandria City

0

15

0

0

2

17

4,024

0.14

0.40

Alleghany

0

0

0

0

0

0

n/a

0.00

0.00

Amelia

0

0

0

0

0

0

n/a

0.00

0.00

Amherst

0

0

0

0

0

0

n/a

0.00

0.00

Appomattox

0

0

0

0

0

0

n/a

0.00

0.00

Arlington

1

15

0

0

3

19

4,875

0.11

0.33

Augusta

0

0

0

0

0

0

n/a

0.00

0.00

Bath

0

0

0

0

0

0

n/a

0.00

0.00

Bedford

0

0

0

0

0

0

n/a

0.00

0.00

Bedford City

0

0

0

0

0

0

n/a

0.00

0.00

Bland

0

0

0

0

0

0

n/a

0.00

0.00

Botetourt

0

0

0

0

0

0

n/a

0.00

0.00

Bristol

0

4

0

0

1

5

1,745

0.32

0.93

Brunswick

0

2

0

0

0

2

3,893

0.14

0.42

Buchanan

0

0

0

0

0

0

n/a

0.00

0.00

Buckingham

0

1

0

0

0

1

6,629

0.08

0.24

Buena Vista City

0

0

0

0

0

0

n/a

0.00

0.00

Campbell

0

2

0

0

0

2

11,746

0.05

0.13

Caroline

0

9

0

0

2

11

943

0.59

1.73

Carroll

0

1

0

0

0

1

15,545

0.04

0.10

Charles City

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

Charlottesville City

0

1

0

0

0

1

18,268

0.03

0.09

Chesapeake City

0

20

0

0

2

22

3,604

0.15

0.45

Chesterfield

1

23

0

0

1

25

4,470

0.12

0.36

Clarke

0

4

0

0

0

4

1,495

0.37

1.09

Clifton Forge City

0

0

0

0

0

0

n/a

n/a

n/a

Colonial Heights City

0

0

0

0

0

0

n/a

0.00

0.00

Covington City

0

0

0

0

0

0

n/a

0.00

0.00

Craig

0

0

0

0

0

0

n/a

0.00

0.00

Culpeper

0

18

0

0

1

19

850

0.66

1.92

Cumberland

0

2

0

0

0

2

2,178

0.26

0.75

Danville City

3

0

0

0

4

7

3,325

0.17

0.49

Dickenson

0

0

0

0

0

0

n/a

0.00

0.00

Dinwiddie

0

0

0

0

0

0

n/a

0.00

0.00

Emporia City

0

0

0

0

0

0

n/a

0.00

0.00

Essex

0

0

0

0

0

0

n/a

0.00

0.00

Fairfax

1

280

0

0

13

294

1,316

0.42

1.24

Fairfax City

1

5

0

0

0

6

1,435

0.39

1.14

Falls Church City

0

1

0

0

0

1

4,694

0.12

0.34

Fauquier

0

18

0

0

0

18

1,363

0.41

1.20

Floyd

0

0

0

0

0

0

n/a

0.00

0.00

Fluvanna

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

2

0

0

0

2

12,553

0.04

0.13

Franklin City

0

0

0

0

0

0

n/a

0.00

0.00

Frederick

70

69

0

0

41

180

151

3.69

10.82

Fredericksburg City

0

5

0

0

2

7

1,319

0.42

1.24

Galax City

0

0

0

0

0

0

n/a

0.00

0.00

Giles

0

1

0

0

0

1

8,068

0.07

0.20

Gloucester

0

1

0

0

0

1

15,663

0.04

0.10

Goochland

0

1

0

0

0

1

7,886

0.07

0.20

Grayson

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Greensville

0

2

0

0

0

2

2,005

0.28

0.81

Halifax

0

0

0

0

1

1

17,348

0.03

0.09

Hampton

0

0

0

0

0

0

n/a

n/a

n/a

Hampton City

0

19

0

0

2

21

2,800

0.20

0.58

Hanover

0

5

0

0

1

6

6,077

0.09

0.26

Harrisonburg City

0

2

0

0

0

2

7,436

0.07

0.22

Henrico

0

24

0

0

6

30

4,092

0.14

0.40

Henry

0

0

0

0

0

0

n/a

0.00

0.00

Highland

0

0

0

0

0

0

n/a

0.00

0.00

Hopewell City

0

4

0

0

0

4

2,485

0.22

0.65

Isle Of Wight

0

10

0

0

0

10

1,366

0.41

1.19

James City

0

4

0

0

1

5

5,164

0.11

0.31

King And Queen

0

1

0

0

0

1

3,197

0.17

0.51

King George

0

3

0

0

8

11

753

0.74

2.17

King William

0

5

0

0

0

5

1,176

0.47

1.39

Lancaster

0

0

0

0

0

0

n/a

0.00

0.00

Lee

0

0

0

0

0

0

n/a

0.00

0.00

Lexington City

0

0

0

0

0

0

n/a

0.00

0.00

Loudoun

70

222

0

0

28

320

292

1.91

5.60

Louisa

0

2

0

0

0

2

6,997

0.08

0.23

Lunenburg

0

0

0

0

0

0

n/a

0.00

0.00

Lynchburg City

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

0

0

0

1

1

5,791

0.10

0.28

Manassas City

0

25

0

0

1

26

488

1.14

3.35

Manassas Park City

0

5

0

0

2

7

596

0.93

2.74

Martinsville City

0

0

0

0

0

0

n/a

0.00

0.00

Mathews

0

0

0

0

0

0

n/a

0.00

0.00

Mecklenburg

0

3

0

0

0

3

6,108

0.09

0.26

Middlesex

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

1

0

0

0

1

35,119

0.02

0.04

Nelson

0

0

0

0

0

0

n/a

0.00

0.00

New Kent

0

0

0

0

0

0

n/a

0.00

0.00

Newport News

0

0

0

0

0

0

n/a

0.00

0.00

Newport News City

0

19

0

0

2

21

n/a

n/a

n/a

Norfolk City

6

12

0

0

19

37

2,602

0.21

0.62

Northampton

0

1

0

0

0

1

7,271

0.08

0.22

Northumberland

0

0

0

0

0

0

n/a

0.00

0.00

Norton City

0

0

0

0

0

0

n/a

0.00

0.00

Nottoway

0

0

0

0

0

0

n/a

0.00

0.00

Orange

5

27

0

0

2

34

388

1.44

4.21

Page

0

2

0

0

0

2

5,538

0.10

0.29

Patrick

0

0

0

0

0

0

n/a

0.00

0.00

Petersburg City

0

3

0

0

0

3

5,306

0.10

0.30

Pittsylvania

0

2

0

0

1

3

9,780

0.06

0.16

Poquoson City

0

0

0

0

0

0

n/a

0.00

0.00

Portsmouth City

0

12

0

0

1

13

3,272

0.17

0.50

Powhatan

0

1

0

0

0

1

9,056

0.06

0.18

Prince Edward

0

2

0

0

0

2

4,093

0.14

0.40

Prince George

0

1

0

0

0

1

11,804

0.05

0.13

Prince William

1

212

0

0

78

291

432

1.29

3.78

Pulaski

0

1

0

0

0

1

16,902

0.03

0.09

Radford

0

0

0

0

0

0

n/a

0.00

0.00

Rappahannock

0

0

0

0

0

0

n/a

0.00

0.00

Richmond

0

1

0

0

0

1

3,694

0.15

0.44

Richmond City

0

42

0

0

26

68

1,371

0.41

1.19

Roanoke

0

8

0

0

1

9

4,303

0.13

0.38

Roanoke City

0

7

0

0

0

7

6,605

0.08

0.24

Rockbridge

0

2

0

0

0

2

5,257

0.11

0.31

Rockingham

0

5

0

0

0

5

5,974

0.09

0.27

Russell

0

0

0

0

0

0

n/a

0.00

0.00

Salem

0

3

0

0

0

3

3,550

0.16

0.46

Scott

0

0

0

0

0

0

n/a

0.00

0.00

Shenandoah

0

9

0

0

0

9

2,065

0.27

0.79

Smyth

0

0

0

0

0

0

n/a

0.00

0.00

Southampton

0

1

0

0

0

1

7,424

0.08

0.22

Spotsylvania

1

58

0

0

13

72

583

0.96

2.80

Stafford

14

112

0

0

7

133

302

1.84

5.40

Staunton City

0

3

0

0

0

3

3,628

0.15

0.45

Suffolk City

2

12

0

0

10

24

1,273

0.44

1.28

Surry

0

1

0

0

0

1

3,599

0.15

0.45

Sussex

0

0

0

0

0

0

n/a

0.00

0.00

Tazewell

0

1

0

0

0

1

20,845

0.03

0.07

Virginia Beach City

20

40

0

0

6

66

2,597

0.21

0.63

Warren

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

3

0

0

0

3

8,194

0.07

0.20

Waynesboro City

0

1

0

0

0

1

9,291

0.06

0.17

Westmoreland

0

3

0

0

0

3

3,370

0.17

0.48

Williamsburg City

0

0

0

0

0

0

n/a

0.00

0.00

Winchester City

0

1

0

0

0

1

11,319

0.05

0.14

Wise

0

3

0

0

1

4

4,552

0.12

0.35

Wythe

0

1

0

0

0

1

13,221

0.04

0.12

York

0

4

0

0

0

4

5,974

0.09

0.27

 

 

 

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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