VIRGINIA FORECLOSURE ACTIVITY UP 9 PERCENT IN APRIL

Foreclosure Activity Level Up 5 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 6,254 Virginia properties in April, a 9 percent increase from the previous month, and 5 percent above the level reported for April 2008, 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 1.5 million properties from over 2,200 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.

 

“Foreclosure activity in Virginia increased in April and remained up from a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, unemployment within the state, while heightened, is still lower than much of the nation.”

 

Virginia ranked tenth in the country in total properties with foreclosure filings for April. One in every 524 Virginia housing units received a foreclosure filing during the month, the 14th highest state foreclosure rate in the nation.

 

Fairfax County leads state in foreclosure activity in April

Fairfax County led the state, reporting 1,195 properties with foreclosure filings for the month. Prince William County reported 1,044 properties with foreclosure filings, the state’s second highest county total. Loudon County came in third highest, reporting 377 properties with foreclosure filings. Virginia Beach City County came in fourth, documenting 305 properties with foreclosure filings, while the fifth highest total was in Chesterfield County, where 191 properties with foreclosure filings were reported for the month.

 

Manassas City County post state’s top foreclosure rate in April

Manassas City County topped the list, with one in every 111 housing units receiving a foreclosure filing — 4.7 times the state average and 3.4 times the national average. Prince William County had the second highest foreclosure rate, with one in every 128 housing units receiving a foreclosure filing — 4.1 times the state average and 2.9 times the national average. Fairfax City County documented the third highest foreclosure rate, where one in every 176 housing units received a foreclosure filing during the month — three times the state average and 2.1 times the national average.

 

State a moderate contributor to nation’s foreclosure total in April

Virginia accounted for 2 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is filed against a property during the month — which is extremely rare — only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

            Virginia Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Virginia

5

0

4,214

0

2,035

6,254

524

8.67

5.16

 

 

 

 

 

 

 

 

 

 

Accomack

0

0

8

0

0

8

2,648

60.00

300.00

Albemarle

1

0

38

0

0

39

1,045

254.55

3800.00

Alexandria City

0

0

64

0

14

78

901

-7.14

9.86

Alleghany

0

0

1

0

0

1

8,046

-50.00

0.00

Amelia

0

0

7

0

0

7

764

-22.22

 n/a

Amherst

0

0

3

0

0

3

4,599

0.00

 n/a

Appomattox

0

0

1

0

0

1

6,453

0.00

 n/a

Arlington

0

0

60

0

45

105

963

10.53

20.69

Augusta

0

0

11

0

1

12

2,523

100.00

1100.00

Bath

0

0

0

0

0

0

 n/a

 n/a

 n/a

Bedford

0

0

18

0

0

18

1,724

125.00

1700.00

Bedford City

0

0

3

0

0

3

922

-40.00

 n/a

Bland

0

0

0

0

0

0

 n/a

 n/a

 n/a

Botetourt

0

0

10

0

0

10

1,416

66.67

233.33

Bristol

0

0

3

0

0

3

2,952

50.00

 n/a

Brunswick

0

0

2

0

0

2

3,936

 n/a

 n/a

Buchanan

0

0

0

0

0

0

 n/a

-100.00

 n/a

Buckingham

0

0

1

0

1

2

3,409

0.00

 n/a

Buena Vista City

0

0

5

0

0

5

573

66.67

 n/a

Campbell

0

0

4

0

3

7

3,433

75.00

 n/a

Caroline

0

0

28

0

14

42

271

5.00

50.00

Carroll

0

0

3

0

0

3

5,282

 n/a

 n/a

Charles City

0

0

2

0

0

2

1,581

0.00

 n/a

Charlotte

0

0

1

0

0

1

6,230

0.00

 n/a

Charlottesville City

0

0

13

0

1

14

1,340

180.00

600.00

Chesapeake City

0

0

116

0

36

152

540

-4.40

280.00

Chesterfield

0

0

140

0

51

191

609

-11.57

98.96

Clarke

0

0

9

0

3

12

521

300.00

50.00

Colonial Heights City

0

0

13

0

0

13

591

8.33

 n/a

Covington City

0

0

2

0

0

2

1,612

100.00

 n/a

Craig

0

0

0

0

0

0

 n/a

 n/a

 n/a

Culpeper

1

0

20

0

22

43

436

-32.81

-48.81

Cumberland

0

0

6

0

0

6

746

-14.29

 n/a

Danville City

0

0

19

0

3

22

1,057

-45.00

-48.84

Dickenson

0

0

0

0

0

0

 n/a

 n/a

 n/a

Dinwiddie

0

0

4

0

0

4

2,736

-33.33

 n/a

Emporia City

0

0

2

0

0

2

1,314

-33.33

 n/a

Essex

0

0

1

0

0

1

5669

0.00

 n/a

Fairfax

1

0

759

0

435

1,195

328

10.14

-26.10

Fairfax City

0

0

26

0

23

49

176

32.43

276.92

Falls Church City

0

0

7

0

4

11

429

175.00

1000.00

Fauquier

0

0

36

0

30

66

392

6.45

15.79

Floyd

0

0

0

0

0

0

 n/a

-100.00

 n/a

Fluvanna

0

0

2

0

1

3

3432

-57.14

 n/a

Franklin

0

0

13

0

2

15

1739

200.00

1400.00

Franklin City

0

0

9

0

2

11

365

450.00

 

Frederick

0

0

73

0

28

101

290

-7.34

17.44

Fredericksburg City

0

0

5

0

8

13

759

-18.75

-7.14

Galax City

0

0

1

0

0

1

3,286

 n/a

 n/a

Giles

0

0

4

0

0

4

2,039

0.00

 n/a

Gloucester

0

0

28

0

0

28

578

133.33

1300.00

Goochland

0

0

8

0

2

10

851

-23.08

900.00

Grayson

0

0

0

0

0

0

 

-100.00

 n/a

Greene

0

0

4

0

0

4

1,835

-42.86

100.00

Greensville

0

0

0

0

0

0

 n/a

 n/a

-100.00

Halifax

0

0

3

0

0

3

5,825

50.00

 n/a

Hampton City

0

0

91

0

25

116

516

22.11

1188.89

Hanover

0

0

23

0

9

32

1171

-11.11

128.57

Harrisonburg City

0

0

9

0

2

11

1402

37.50

1000.00

Henrico

0

0

100

0

42

142

887

-11.80

46.39

Henry

0

0

4

0

0

4

6629

33.33

 n/a

Highland

0

0

0

0

0

0

 n/a

 n/a

 n/a

Hopewell City

0

0

10

0

0

10

1020

66.67

400.00

Isle Of Wight

0

0

5

0

1

6

2426

-50.00

200.00

James City

0

0

29

0

1

30

934

0.00

1400.00

King And Queen

0

0

0

0

0

0

 n/a

-100.00

-100.00

King George

0

0

21

0

7

28

324

16.67

47.37

King William

0

0

1

0

2

3

2094

200.00

200.00

Lancaster

0

0

0

0

1

1

7207

-80.00

 n/a

Lee

0

0

0

0

0

0

 n/a

 n/a

 n/a

Lexington City

0

0

2

0

0

2

1213

-33.33

 n/a

Loudoun

0

0

253

0

124

377

269

-8.50

-38.10

Louisa

0

0

14

0

15

29

526

31.82

2800.00

Lunenburg

0

0

1

0

0

1

5894

0.00

 n/a

Lynchburg City

0

0

13

0

1

14

2128

75.00

1300.00

Madison

0

0

6

0

0

6

997

50.00

 n/a

Manassas City

0

0

66

0

51

117

111

20.62

387.50

Manassas Park City

0

0

0

0

0

0

 n/a

 n/a

-100.00

Martinsville City

0

0

5

0

0

5

1462

25.00

 n/a

Mathews

0

0

1

0

0

1

5772

0.00

 n/a

Mecklenburg

0

0

5

0

1

6

3105

200.00

500.00

Middlesex

0

0

1

0

1

2

3571

100.00

 n/a

Montgomery

0

0

20

0

0

20

1803

66.67

 n/a

Nelson

0

0

7

0

0

7

1370

 n/a

 n/a

New Kent

0

0

12

0

1

13

530

85.71

 n/a

Newport News City

0

0

101

0

38

139

564

28.70

434.62

Norfolk City

0

0

131

0

50

181

528

-8.59

174.24

Northampton

0

0

2

0

2

4

1867

 n/a

 n/a

Northumberland

0

0

0

0

1

1

9273

0.00

 n/a

Norton City

0

0

0

0

0

0

 n/a

 n/a

 n/a

Nottoway

0

0

6

0

0

6

1132

-33.33

 n/a

Orange

0

0

35

0

25

60

238

20.00

66.67

Page

0

0

14

0

0

14

814

100.00

250.00

Patrick

0

0

5

0

0

5

2079

150.00

 n/a

Petersburg City

0

0

28

0

2

30

530

25.00

2900.00

Pittsylvania

0

0

14

0

2

16

1858

45.45

433.33

Poquoson City

0

0

4

0

1

5

937

 n/a

400.00

Portsmouth City

0

0

68

0

36

104

411

14.29

1055.56

Powhatan

0

0

10

0

1

11

881

-15.38

120.00

Prince Edward

0

0

5

0

0

5

1682

400.00

400.00

Prince George

0

0

3

0

0

3

4073

0.00

 n/a

Prince William

0

0

637

0

407

1,044

128

15.74

-44.05

Pulaski

0

0

5

0

1

6

2858

-14.29

 n/a

Radford

0

0

1

0

0

1

6447

-80.00

 n/a

Rappahannock

0

0

5

0

0

5

747

-16.67

400.00

Richmond

0

0

0

0

1

1

3770

-50.00

-50.00

Richmond City

0

0

109

0

51

160

589

-12.09

207.69

Roanoke

0

0

25

0

29

54

730

116.00

800.00

Roanoke City

0

0

63

0

63

126

368

180.00

2000.00

Rockbridge

0

0

4

0

0

4

2719

300.00

300.00

Rockingham

0

0

18

0

2

20

1572

-4.76

185.71

Russell

0

0

0

0

0

0

 n/a

-100.00

 n/a

Salem

0

0

10

0

5

15

713

114.29

 n/a

Scott

0

0

2

0

0

2

5,883

 n/a

 n/a

Shenandoah

0

0

25

0

2

27

723

58.82

440.00

Smyth

0

0

3

0

0

3

5,150

-25.00

 n/a

Southampton

0

0

6

0

0

6

1,265

-33.33

 n/a

Spotsylvania

0

0

123

0

52

175

256

-15.05

8.70

Stafford

0

0

111

0

84

195

218

-7.58

-41.44

Staunton City

0

0

6

0

2

8

1,399

33.33

700.00

Suffolk City

0

0

51

0

30

81

399

-13.83

710.00

Surry

0

0

1

0

0

1

3,728

 n/a

 n/a

Sussex

0

0

3

0

1

4

1,207

300.00

 n/a

Tazewell

0

0

1

0

0

1

20,963

-50.00

 n/a

Virginia Beach City

2

0

203

0

100

305

573

14.23

41.20

Warren

0

0

38

0

14

52

296

36.84

36.84

Washington

0

0

3

0

0

3

8,362

200.00

200.00

Waynesboro City

0

0

3

0

1

4

2,376

0.00

 n/a

Westmoreland

0

0

7

0

0

7

1,501

40.00

250.00

Williamsburg City

0

0

0

0

0

0

 n/a

-100.00

 n/a

Winchester City

0

0

14

0

17

31

374

14.81

-6.06

Wise

0

0

1

0

1

2

9,127

 n/a

 n/a

Wythe

0

0

2

0

0

2

6,723

-33.33

 n/a

York

0

0

13

0

1

14

1,751

180.00

366.67

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved