VIRGINIA FORECLOSURE ACTIVITY UP 53 PERCENT IN DECEMBER

Yearly Total Up 972 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – Virginia reported 3,955 foreclosure filings in December, a 53 percent increase from the previous month, and a 972 percent increase from December 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 have increased both in December and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s home sales were more than 70 percent lower than the national average during the past year, which may be contributing to the overall rise.”

 

Virginia ranked 13th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 803 households ranked it 15th among the 50 states.

 

Top three counties account for largest share of state total

Three counties accounted for 67 percent of all foreclosure filings in Virginia for December. Prince William County posted the highest foreclosure total for the month, with 1,224 foreclosure filings. Fairfax County registered the second highest foreclosure total, with 939 foreclosure filings, followed by Loudoun County with 497 foreclosure filings.

 

Prince William County post highest foreclosure rate

Prince William County reported the highest county foreclosure rate in Virginia for December, one foreclosure filing for every 103 households — 7.8 times the state average and 5.6 times the national average. Loudoun County posted the second highest county foreclosure rate, one foreclosure filing for every 188 households — 4.3 times the state average and 3.1 times the national average. Stafford County registered the third highest county foreclosure rate, one foreclosure filing for every 223 households — 3.6 times the state average and 2.6 times the national average.

 

State contributes 2 percent to nation’s monthly total

Total foreclosure filings in Virginia accounted for 2 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 577 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 – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Virginia

418

1,852

0

0

1,685

3,955

803

0.72

n/a

 

 

 

 

 

 

 

 

 

 

Accomack

0

0

0

0

0

0

n/a

0.00

0.00

Albemarle

0

1

0

0

0

1

39,065

0.01

0.02

Alexandria City

0

30

0

0

8

38

1,800

0.32

0.45

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

8

19

0

0

20

47

1,971

0.29

0.41

Augusta

0

1

0

0

0

1

29,452

0.02

0.03

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

2

0

0

0

2

6,873

0.08

0.12

Bristol City

0

4

0

0

0

4

2,181

0.26

0.37

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

1

0

0

0

1

2,814

0.21

0.29

Campbell

0

0

0

0

0

0

n/a

0.00

0.00

Caroline

0

15

0

0

10

25

415

0.21

0.29

Carroll

0

0

0

0

0

0

n/a

0.00

0.00

Charles City

0

1

0

0

0

1

3,095

0.19

0.26

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

0.04

Chesapeake City

0

21

0

0

14

35

2,265

0.25

0.35

Chesterfield

1

50

0

0

1

52

2,149

0.27

0.37

Clarke

0

3

0

0

0

3

1,993

0.29

0.40

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

1

21

0

0

36

58

279

2.07

2.88

Cumberland

0

1

0

0

0

1

4,355

0.13

0.18

Danville City

7

15

0

0

13

35

665

0.87

1.21

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

36

435

0

0

468

939

412

1.40

1.95

Fairfax City

0

5

0

0

0

5

1,722

0.34

0.47

Falls Church City

0

1

0

0

0

1

4,694

0.12

0.17

Fauquier

0

45

0

0

22

67

366

1.58

2.19

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

5

0

0

0

5

5,021

0.11

0.16

Franklin City

0

1

0

0

0

1

3,888

0.15

0.21

Frederick

12

38

0

0

22

72

378

1.53

2.12

Fredericksburg City

0

5

0

0

2

7

1,319

0.44

0.61

Galax City

0

1

0

0

0

1

3,266

0.18

0.25

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

0.07

0.10

Grayson

0

1

0

0

0

1

9,590

0.06

0.08

Greene

0

1

0

0

0

1

6,967

0.08

0.12

Greensville

0

1

0

0

0

1

4,009

0.14

0.20

Halifax

0

1

0

0

1

2

8,674

0.07

0.09

Hampton City

0

20

0

0

0

20

2,941

0.20

0.27

Hanover

0

5

0

0

4

9

4,051

0.14

0.20

Harrisonburg City

0

0

0

0

0

0

n/a

0.00

0.00

Henrico

0

48

0

0

0

48

2,557

0.23

0.31

Henry

0

1

0

0

0

1

26,463

0.02

0.03

Highland

0

0

0

0

0

0

n/a

0.00

0.00

Hopewell City

0

2

0

0

0

2

4,969

0.12

0.16

Isle of Wight

0

5

0

0

0

5

2,732

0.21

0.29

James City

0

4

0

0

2

6

4,303

0.13

0.19

King and Queen

0

0

0

0

0

0

n/a

0.00

0.00

King George

1

2

0

0

3

6

1,381

0.42

0.58

King William

0

4

0

0

0

4

1,470

0.39

0.55

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

63

218

0

0

216

497

188

3.07

4.27

Louisa

0

2

0

0

0

2

6,997

0.08

0.11

Lunenburg

0

1

0

0

0

1

5,863

0.10

0.14

Lynchburg City

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Manassas City

0

13

0

0

1

14

906

0.64

0.89

Manassas Park City

0

0

0

0

0

0

n/a

0.00

0.00

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

2

0

0

1

3

6,108

0.09

0.13

Middlesex

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

1

0

0

0

1

35,119

0.02

0.02

Nelson

0

0

0

0

0

0

n/a

0.00

0.00

New Kent

0

2

0

0

0

2

3,147

0.18

0.26

Newport News City

0

8

0

0

0

8

9,678

0.06

0.08

Norfolk City

43

51

0

0

29

123

783

0.74

1.03

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

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

3

10

0

0

4

17

776

0.74

1.03

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

4

0

0

0

4

3,979

0.15

0.20

Pittsylvania

0

2

0

0

0

2

14,670

0.04

0.05

Poquoson City

0

0

0

0

0

0

n/a

0.00

0.00

Portsmouth City

0

21

0

0

0

21

2,026

0.28

0.40

Powhatan

0

2

0

0

0

2

4,528

0.13

0.18

Prince Edward

0

0

0

0

0

0

n/a

0.00

0.00

Prince George

0

2

0

0

1

3

3,935

0.15

0.20

Prince William

183

344

0

0

697

1,224

103

5.62

7.82

Pulaski

0

0

0

0

0

0

n/a

0.00

0.00

Radford

0

0

0

0

0

0

n/a

0.00

0.00

Rappahannock

0

1

0

0

1

2

1,786

0.32

0.45

Richmond

0

3

0

0

0

3

1,231

0.47

0.65

Richmond City

0

36

0

0

1

37

2,519

0.23

0.32

Roanoke

0

2

0

0

0

2

19,366

0.03

0.04

Roanoke City

0

2

0

0

0

2

23,118

0.02

0.03

Rockbridge

0

3

0

0

0

3

3,505

0.16

0.23

Rockingham

0

4

0

0

0

4

7,467

0.08

0.11

Russell

0

0

0

0

0

0

n/a

0.00

0.00

Salem

0

3

0

0

0

3

3,550

0.16

0.23

Scott

0

1

0

0

0

1

11,722

0.05

0.07

Shenandoah

1

1

0

0

0

2

9,292

0.06

0.09

Smyth

1

1

0

0

0

2

7,711

0.07

0.10

Southampton

0

1

0

0

0

1

7,424

0.08

0.11

Spotsylvania

0

78

0

0

49

127

330

1.75

2.43

Stafford

29

118

0

0

33

180

223

2.58

3.59

Staunton City

0

1

0

0

0

1

10,883

0.05

0.07

Suffolk City

1

6

0

0

5

12

2,546

0.23

0.32

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

28

82

0

0

21

131

1,309

0.44

0.61

Warren

0

2

0

0

0

2

7,387

0.08

0.11

Washington

0

1

0

0

0

1

24,583

0.02

0.03

Waynesboro City

0

0

0

0

0

0

n/a

0.00

0.00

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

3

0

0

0

3

3,773

0.15

0.21

Wise

0

0

0

0

0

0

n/a

0.00

0.00

Wythe

0

0

0

0

0

0

n/a

0.00

0.00

York

0

1

0

0

0

1

23,894

0.02

0.03

 

 

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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