VIRGINIA FORECLOSURE ACTIVITY INCREASES 13 PERCENT IN JULY

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Yearly Total Up 303 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – Virginia reported 1,959 foreclosure filings in July, a 13 percent increase from the previous month, and a 303 percent increase from July 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 more than four times what they were this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that home sales throughout the state have decreased further than the national average during the past year. This is likely contributing to the sizeable increase in foreclosures.”

 

Virginia ranked 20th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 1,621 households ranked it 21st among the 50 states.

 

Prince William County leads all in foreclosure activity for July

Prince William County led the state in foreclosure activity for July, reporting 503 foreclosure filings. Fairfax County reported the second highest county total with 444 foreclosure filings. Loudoun County reported the third highest county total, 247 foreclosure filings, followed by fourth place Spotsylvania County, with 90 foreclosure filings entering some part of the foreclosure pipeline. Virginia Beach City County reported the fifth highest county total with 80 foreclosure filings.

 

Manassas City County posts highest foreclosure rate

Manassas City County reported the highest county foreclosure rate in the state for July, with a rate of one foreclosure filing for every 198 households — 8.2 times the state average and 3.5 times the national average. Prince William County posted the second highest foreclosure rate, with one foreclosure filing for every 250 households — 6.5 times the state average and 2.8 times the national average. Loudoun County posted the third highest foreclosure rate, with one foreclosure filing for every 378 households — 4.3 times the state average and 1.8 times the national average. Spotsylvania County came in fourth with a foreclosure rate of one foreclosure filing for every 466 households — 3.5 times the state average and 1.5 times the national average. Culpeper County rounded out the state’s top five with a rate of one foreclosure filing for every 490 households — 3.3 times the state average and 1.4 times the national average.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Virginia accounted for 1 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Virginia

332

1,421

0

0

206

1,959

1,621

0.43

n/a

 

 

 

 

 

 

 

 

 

 

Accomack

0

0

0

0

0

0

n/a

0.00

0.00

Albemarie

0

0

0

0

0

0

n/a

0.00

0.00

Alexandria city

0

36

0

0

11

47

1,455

0.48

1.11

Amelia

0

0

0

0

0

0

n/a

0.00

0.00

Amherst

0

2

0

0

0

2

6,767

0.10

0.24

Appomattox

0

0

0

0

0

0

n/a

0.00

0.00

Arlington

2

22

0

0

3

27

3,430

0.20

0.47

Augusta

0

1

0

0

0

1

29,452

0.02

0.06

Bedford

0

1

0

0

0

1

29,683

0.02

0.05

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

2

0

0

0

2

6,873

0.10

0.24

Bristol

0

4

0

0

0

4

2,181

0.32

0.74

Brunswick

0

0

0

0

0

0

n/a

0.00

0.00

Buckingham

0

0

0

0

0

0

n/a

0.00

0.00

Buena vista City

0

1

0

0

0

1

2,814

0.25

0.58

Campbell

0

0

0

0

0

0

n/a

0.00

0.00

Caroline

0

14

0

0

3

17

610

1.14

2.66

Carroll

0

0

0

0

0

0

n/a

0.00

0.00

Charles City

0

0

0

0

0

0

n/a

0.00

0.00

Charlotte

0

1

0

0

0

1

6,142

0.11

0.26

Charlottesville city

0

1

0

0

0

1

18,268

0.04

0.09

Chesapeake City

0

20

0

0

0

20

3,965

0.17

0.41

Chesterfield

0

5

0

0

0

5

22,350

0.03

0.07

Clarke

1

2

0

0

0

3

1,993

0.35

0.81

Colonial Heights City

0

0

0

0

3

3

2,540

0.27

0.64

Craig

0

0

0

0

0

0

n/a

0.00

0.00

Culpeper

1

27

0

0

5

33

490

1.42

3.31

Danville city

2

0

0

0

5

7

3,325

0.21

0.49

Dinwiddie

0

0

0

0

0

0

n/a

0.00

0.00

Emporia City

1

0

0

0

0

1

2,607

0.27

0.62

Essex

0

1

0

0

0

1

5,353

0.13

0.30

Fairfax

0

434

0

0

10

444

871

0.80

1.86

Fairfax city

0

15

0

0

0

15

574

1.21

2.82

Falls church City

0

2

0

0

0

2

2,347

0.30

0.69

Fauquier

0

12

0

0

7

19

1,291

0.54

1.25

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

1

0

0

0

1

25,106

0.03

0.06

Franklin City

0

0

0

0

0

0

n/a

0.00

0.00

Frederick

18

0

0

0

3

21

1,295

0.54

1.25

Fredericksburg City

0

9

0

0

3

12

770

0.90

2.11

Galax city

0

0

0

0

0

0

n/a

0.00

0.00

Giles

0

0

0

0

0

0

n/a

0.00

0.00

Gloucester

0

2

0

0

0

2

7,832

0.09

0.21

Goochland

0

0

0

0

0

0

n/a

0.00

0.00

Grayson

0

0

0

0

1

1

9,590

0.07

0.17

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Greensville

0

1

0

0

0

1

4,009

0.17

0.40

Halifax

0

0

0

0

0

0

n/a

0.00

0.00

Hampton City

0

5

0

0

0

5

11,762

0.06

0.14

Hanover

0

1

0

0

3

4

9,115

0.08

0.18

Henrico

1

6

0

0

0

7

17,535

0.04

0.09

Henry

0

0

0

0

0

0

n/a

0.00

0.00

Hopewell City

0

2

0

0

0

2

4,969

0.14

0.33

Isle of Wight

0

0

0

0

0

0

n/a

0.00

0.00

James City

0

0

0

0

0

0

n/a

0.00

0.00

King George

2

4

0

0

2

8

1,035

0.67

1.57

King William

0

0

0

0

0

0

n/a

0.00

0.00

Lancaster

0

2

0

0

0

2

3,480

0.20

0.47

Loudoun

16

218

0

0

13

247

378

1.83

4.29

Louisa

0

0

0

0

0

0

n/a

0.00

0.00

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

2

0

0

0

2

2,896

0.24

0.56

Manassas City

21

40

0

0

3

64

198

3.50

8.17

Mathews

0

0

0

0

0

0

n/a

0.00

0.00

Mecklenburg

0

0

0

0

0

0

n/a

0.00

0.00

Middlesex

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

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 City

0

3

0

0

0

3

n/a

n/a

n/a

Norfolk City

34

21

0

0

11

66

1,459

0.48

1.11

Northampton

0

0

0

0

0

0

n/a

0.00

0.00

Northumberland

0

0

0

0

0

0

n/a

0.00

0.00

Nottoway

0

1

0

0

0

1

6,661

0.10

0.24

Orange

6

10

0

0

4

20

660

1.05

2.46

Page

0

0

0

0

0

0

n/a

0.00

0.00

Patrick

0

0

0

0

0

0

n/a

0.00

0.00

Petersburg City

0

2

0

0

0

2

7,959

0.09

0.20

Pittsylvania

0

0

0

0

0

0

n/a

0.00

0.00

Poquoson City

0

0

0

0

0

0

n/a

0.00

0.00

Portsmouth City

0

29

0

0

0

29

1,467

0.47

1.10

Powhatan

0

1

0

0

0

1

9,056

0.08

0.18

Prince Edward

0

1

0

0

0

1

8,186

0.08

0.20

Prince George

0

0

0

0

0

0

n/a

0.00

0.00

Prince William

169

275

0

0

59

503

250

2.78

6.49

Pulaski

0

0

0

0

0

0

n/a

0.00

0.00

Radford

0

1

0

0

0

1

6,335

0.11

0.26

Rappahannock

0

0

0

0

0

0

n/a

0.00

0.00

Richmond City

0

8

0

0

0

8

11,653

0.06

0.14

Roanoke

0

3

0

0

0

3

12,910

0.05

0.13

Roanoke City

0

7

0

0

0

7

6,605

0.10

0.25

Rockbridge

0

0

0

0

0

0

n/a

0.00

0.00

Rockingham

0

0

0

0

0

0

n/a

0.00

0.00

Russell

0

0

0

0

0

0

n/a

0.00

0.00

Salem

0

0

0

0

0

0

n/a

0.00

0.00

Scott

0

0

0

0

0

0

n/a

0.00

0.00

Shenandoah

0

4

0

0

0

4

4,646

0.15

0.35

Smyth

0

1

0

0

0

1

15,421

0.04

0.11

Southampton

0

1

0

0

0

1

7,424

0.09

0.22

Spotsylvania

2

68

0

0

20

90

466

1.49

3.48

Stafford

8

50

0

0

20

78

516

1.34

3.14

Staunton City

0

2

0

0

0

2

5,442

0.13

0.30

Suffolk City

0

11

0

0

6

17

1,797

0.39

0.90

Surry

0

0

0

0

0

0

n/a

0.00

0.00

Sussex

0

0

0

0

0

0

n/a

0.00

0.00

Tazewell

0

0

0

0

0

0

n/a

0.00

0.00

Virginia Beach City

47

22

0

0

11

80

2,143

0.32

0.76

Warren

0

1

0

0

0

1

14,774

0.05

0.11

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Waynesboro City

0

0

0

0

0

0

n/a

0.00

0.00

Westmoreland

0

1

0

0

0

1

10,110

0.07

0.16

Winchester City

1

0

0

0

0

1

11,319

0.06

0.14

Wise

0

0

0

0

0

0

n/a

0.00

0.00

Wythe

0

1

0

0

0

1

13,221

0.05

0.12

York

0

1

0

0

0

1

23,894

0.03

0.07

 

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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