VIRGINIA FORECLOSURE ACTIVITY UP 2 PERCENT IN NOVEMBER

Foreclosure Activity Up 765 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 19, 2007 – Virginia reported 2,578 foreclosure filings in November, a 2 percent increase from the previous month, and a 765 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.

 

Virginia’s employment growth has slowed, and the wages and salaries of its workforce have also decreased slightly,” said James J. Saccacio, chief executive officer of RealtyTrac. “Not surprisingly, the state is now seeing a marked increase in foreclosure activity, especially compared to the same time last year.”

 

Virginia ranked 19th in the country in total foreclosures reported for November. The state’s foreclosure rate of one foreclosure filing for every 1,231 households ranked it 24th among the 50 states.

 

Prince William County leads state in foreclosure activity

Prince William County reported the highest foreclosure total in Virginia for November, with 644 foreclosure filings for the month. Loudon County reported the second highest state total, with 471 foreclosure filings. Fairfax County posted the third highest foreclosure total, with 358 foreclosure filings. Stafford County had the fourth highest state foreclosure total, with 160 filings entering some part of the foreclosure pipeline.

 

Prince William County posts highest foreclosure rate for November

Prince William County tallied the highest foreclosure rate in Virginia for November, one foreclosure filing for every 195 households — 6.3 times the state average and 3.2 times the national average. Loudon County registered the second highest foreclosure rate, one foreclosure filing for every 198 households — 6.2 times the state average and 3.1 times the national average. Stafford County posted the third highest foreclosure rate, one foreclosure filing for every 251 households — 4.9 times the state average and 2.5 times the national average.

 

State makes minor contribution to national total

Total foreclosure filings in Virginia accounted for 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.

 

 

Virginia 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

Virginia

189

1,711

0

0

678

2,578

1,231

0.50

n/a

 

 

 

 

 

 

 

 

 

 

Accomack

0

0

0

0

0

0

n/a

0.00

0.00

Albemarle

0

0

0

0

0

0

n/a

0.00

0.00

Alexandria City

0

15

0

0

13

28

2,443

0.25

0.50

Alleghany

0

0

0

0

0

0

n/a

0.00

0.00

Amelia

0

1

0

0

0

1

5,069

0.12

0.24

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

0

25

0

0

9

34

2,724

0.23

0.45

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

1

0

0

0

1

29,683

0.02

0.04

Bedford City

1

0

0

0

0

1

2,751

0.22

0.45

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 City

0

5

0

0

0

5

1,745

0.35

0.71

Brunswick

0

0

0

0

0

0

n/a

0.00

0.00

Buchanan

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

0

0

0

0

0

n/a

0.00

0.00

Campbell

0

0

0

0

0

0

n/a

0.00

0.00

Caroline

0

4

0

0

11

15

691

0.89

1.78

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

0

0

0

0

0

n/a

0.00

0.00

Charlottesville City

0

3

0

0

0

3

6,089

0.10

0.20

Chesapeake City

1

24

0

0

11

36

2,203

0.28

0.56

Chesterfield

0

29

0

0

1

30

3,725

0.17

0.33

Clarke

0

2

0

0

0

2

2,990

0.21

0.41

Colonial Heights City

0

2

0

0

0

2

3,810

0.16

0.32

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

27

0

0

15

42

385

1.60

3.20

Cumberland

0

2

0

0

0

2

2,178

0.28

0.57

Danville City

4

3

0

0

10

17

1,369

0.45

0.90

Dickenson

0

0

0

0

0

0

n/a

0.00

0.00

Dinwiddie

0

2

0

0

0

2

5,327

0.12

0.23

Emporia City

0

1

0

0

0

1

2,607

0.24

0.47

Essex

0

0

0

0

0

0

n/a

0.00

0.00

Fairfax

0

338

0

0

20

358

1,081

0.57

1.14

Fairfax City

0

8

0

0

1

9

956

0.64

1.29

Falls Church City

0

0

0

0

0

0

n/a

0.00

0.00

Fauquier

1

38

0

0

4

43

571

1.08

2.16

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

3

0

0

1

4

6,277

0.10

0.20

Franklin City

0

1

0

0

0

1

3,888

0.16

0.32

Frederick

1

36

0

0

9

46

591

1.04

2.08

Fredericksburg City

0

5

0

0

3

8

1,154

0.53

1.07

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

0

0

0

0

0

n/a

0.00

0.00

Goochland

0

1

0

0

0

1

7,886

0.08

0.16

Grayson

0

0

0

0

0

0

n/a

0.00

0.00

Greene

0

1

0

0

0

1

6,967

0.09

0.18

Greensville

0

1

0

0

0

1

4,009

0.15

0.31

Halifax

0

1

0

0

1

2

8,674

0.07

0.14

Hampton City

0

24

0

0

0

24

2,450

0.25

0.50

Hanover

0

2

0

0

8

10

3,646

0.17

0.34

Harrisonburg City

0

0

0

0

0

0

n/a

0.00

0.00

Henrico

1

24

0

0

0

25

4,910

0.13

0.25

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

7

0

0

0

7

1,420

0.43

0.87

Isle Of Wight

0

7

0

0

0

7

1,951

0.32

0.63

James City

0

5

0

0

1

6

4,303

0.14

0.29

King And queen

0

0

0

0

0

0

n/a

0.00

0.00

King George

0

1

0

0

2

3

2,761

0.22

0.45

King William

0

1

0

0

0

1

5,880

0.10

0.21

Lancaster

0

0

0

0

1

1

6,960

0.09

0.18

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

117

228

0

0

126

471

198

3.11

6.21

Louisa

0

2

0

0

0

2

6,997

0.09

0.18

Lunenburg

0

0

0

0

0

0

n/a

0.00

0.00

Lynchburg City

1

2

0

0

0

3

9,660

0.06

0.13

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Manassas City

0

47

0

0

2

49

259

2.38

4.76

Manassas Park city

0

2

0

0

0

2

2,088

0.30

0.59

Martinsville City

0

1

0

0

0

1

7,254

0.09

0.17

Mathews

0

0

0

0

0

0

n/a

0.00

0.00

Mecklenburg

0

1

0

0

0

1

18,324

0.03

0.07

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

1

1

0

0

0

2

4,627

0.13

0.27

New Kent

0

0

0

0

0

0

n/a

0.00

0.00

Newport News city

0

8

0

0

1

9

 

 

 

Norfolk City

16

51

0

0

16

83

1,160

0.53

1.06

Northampton

0

0

0

0

1

1

7,271

0.08

0.17

Northumberland

0

1

0

0

0

1

8,863

0.07

0.14

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

6

7

0

0

3

16

825

0.75

1.49

Page

0

1

0

0

0

1

11,075

0.06

0.11

Patrick

0

0

0

0

0

0

n/a

0.00

0.00

Petersburg City

0

3

0

0

1

4

3,979

0.15

0.31

Pittsylvania

0

1

0

0

0

1

29,339

0.02

0.04

Poquoson City

0

0

0

0

0

0

n/a

0.00

0.00

Portsmouth City

0

22

0

0

0

22

1,934

0.32

0.64

Powhatan

0

2

0

0

0

2

4,528

0.14

0.27

Prince Edward

0

0

0

0

0

0

n/a

0.00

0.00

Prince George

0

1

0

0

0

1

11,804

0.05

0.10

Prince William

1

330

0

0

313

644

195

3.16

6.31

Pulaski

0

4

0

0

0

4

4,226

0.15

0.29

Radford

0

0

0

0

0

0

n/a

0.00

0.00

Rappahannock

0

2

0

0

0

2

1,786

0.35

0.69

Richmond

0

0

0

0

0

0

n/a

0.00

0.00

Richmond City

0

35

0

0

2

37

2,519

0.24

0.49

Roanoke

0

13

0

0

0

13

2,979

0.21

0.41

Roanoke City

0

5

0

0

0

5

9,247

0.07

0.13

Rockbridge

0

3

0

0

0

3

3,505

0.18

0.35

Rockingham

0

10

0

0

0

10

2,987

0.21

0.41

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

5

0

0

0

5

3,717

0.17

0.33

Smyth

0

0

0

0

0

0

n/a

0.00

0.00

Southampton

0

1

0

0

0

1

7,424

0.08

0.17

Spotsylvania

2

60

0

0

54

116

362

1.71

3.41

Stafford

31

98

0

0

31

160

251

2.45

4.90

Staunton City

0

1

0

0

1

2

5,442

0.11

0.23

Suffolk City

0

13

0

0

3

16

1,910

0.32

0.64

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

5

91

0

0

3

99

1,732

0.36

0.71

Warren

0

1

0

0

0

1

14,774

0.04

0.08

Washington

0

1

0

0

0

1

24,583

0.03

0.05

Waynesboro City

0

2

0

0

0

2

4,646

0.13

0.27

Westmoreland

0

0

0

0

0

0

n/a

0.00

0.00

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

0.11

Wise

0

0

0

0

0

0

n/a

0.00

0.00

Wythe

0

1

0

0

0

1

13,221

0.05

0.09

York

0

2

0

0

0

2

11,947

0.05

0.09

 

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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