VIRGINIA FORECLOSURES DECREASE 2 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 653 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – Virginia reported 1,731 foreclosure filings in June, a 2 percent decrease from the previous month, but still a 653 percent increase from June 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 state is now seeing a marked increase in foreclosure activity compared to the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, the state did report a slight dip in activity compared to last month and its foreclosure rate remains below the national average.”

 

Virginia ranked 21st in the country in total foreclosures reported for June. The state’s foreclosure rate of one new foreclosure filing for every 1,678 households ranked 25th among the 50 states.

 

Prince William County leads state in foreclosure activity

Prince William County led the state in foreclosure activity for June, reporting 660 foreclosure filings. Fairfax County reported the second highest foreclosure total, with 229 foreclosure filings. Loudon County came in third with 212 foreclosure filings for the month.

 

Manassas City County post highest foreclosure rate

Manassas City County posted the highest foreclosure rate in the state, with one foreclosure filing for every 139 households — 12.1 times the state average and 5.1 times the national average. Prince William County posted the second highest foreclosure rate in the state, with one foreclosure filing for every 149 households — 11.2 times the state average and 4.7 times the national average. Loudon County posted the third highest foreclosure rate, with one foreclosure filing for every 293 households — 5.7 times the state average and 2.4 times the national average.

 

State a contributor to national total

Total foreclosure filings in Virginia accounted for 1 percent of the 164,644 foreclosure filings nationwide in June. The national total was down 7 percent from the previous month but still up 87 percent from June 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 704 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 – June 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,048

51,492

12,488

38,247

26,369

164,644

704

n/a

n/a

Virginia

389

1,055

0

0

287

1,731

1,678

0.42

n/a

 

 

 

 

 

 

 

 

 

 

Accomack

0

1

0

0

0

1

19,550

0.04

0.09

Albemarle

0

1

0

0

0

1

33,720

0.02

0.05

Alexandria City

0

3

0

0

6

9

7,139

0.10

0.24

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

10

6

0

0

3

19

4,759

0.15

0.35

Augusta

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

Botetourt

0

5

0

0

0

5

2,514

0.28

0.67

Bristol

0

4

0

0

1

5

1,694

0.42

0.99

Brunswick

0

0

0

0

2

2

3,771

0.19

0.44

Campbell

0

0

0

0

0

0

n/a

0.00

0.00

Caroline

0

3

0

0

5

8

1,111

0.63

1.51

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

Charlottesville City

0

2

0

0

0

2

8,796

0.08

0.19

Chesapeake City

1

16

0

0

5

22

3,303

0.21

0.51

Chesterfield

1

6

0

0

0

7

13,958

0.05

0.12

Clarke

0

2

0

0

0

2

2,694

0.26

0.62

Colonial Heights City

0

0

0

0

0

0

n/a

0.00

0.00

Covington City

0

0

0

0

1

1

3,195

0.22

0.53

Craig

0

0

0

0

0

0

n/a

0.00

0.00

Culpeper

0

13

0

0

14

27

477

1.48

3.52

Danville City

0

1

0

0

2

3

7,703

0.09

0.22

Dickenson

0

0

0

0

0

0

n/a

0.00

0.00

Dinwiddie

0

1

0

0

0

1

9,707

0.07

0.17

Essex

0

0

0

0

0

0

n/a

0.00

0.00

Fairfax

3

213

0

0

13

229

1,569

0.45

1.07

Fairfax City

0

2

0

0

2

4

2,051

0.34

0.82

Falls Church City

0

2

0

0

0

2

2,363

0.30

0.71

Fauquier

0

7

0

0

4

11

1,913

0.37

0.88

Floyd

0

1

0

0

0

1

6,763

0.10

0.25

Fluvanna

0

2

0

0

0

2

4,009

0.18

0.42

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Franklin City

0

0

0

0

0

0

n/a

0.00

0.00

Frederick

20

3

0

0

3

26

897

0.78

1.87

Fredericksburg City

0

3

0

0

3

6

1,481

0.48

1.13

Galax City

0

0

0

0

0

0

n/a

0.00

0.00

Giles

0

1

0

0

0

1

7,732

0.09

0.22

Gloucester

0

0

0

0

0

0

n/a

0.00

0.00

Goochland

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

0

0

0

0

0

n/a

0.00

0.00

Halifax

1

0

0

0

0

1

16,953

0.04

0.10

Hampton City

0

4

0

0

0

4

14,328

0.05

0.12

Hanover

0

2

0

0

3

5

4,239

0.17

0.40

Harrisonburg City

0

0

0

0

0

0

n/a

0.00

0.00

Henrico

0

9

0

0

1

10

11,257

0.06

0.15

Henry

0

0

0

0

0

0

n/a

0.00

0.00

Hopewell City

0

3

0

0

0

3

3,250

0.22

0.52

Isle Of wight

0

1

0

0

0

1

12,066

0.06

0.14

James City

0

0

0

0

0

0

n/a

0.00

0.00

King And queen

0

0

0

0

0

0

n/a

0.00

0.00

King George

1

0

0

0

1

2

3,410

0.21

0.49

King William

0

0

0

0

0

0

n/a

0.00

0.00

Lancaster

0

1

0

0

0

1

6,498

0.11

0.26

Lee

0

0

0

0

0

0

n/a

0.00

0.00

Loudoun

68

118

0

0

26

212

293

2.40

5.72

Louisa

0

0

0

0

0

0

n/a

0.00

0.00

Lunenburg

0

0

0

0

1

1

5,736

0.12

0.29

Lynchburg City

0

1

0

0

0

1

27,640

0.03

0.06

Madison

0

1

0

0

0

1

5,239

0.13

0.32

Manassas City

24

54

0

0

9

87

139

5.06

12.05

Martinsville City

1

0

0

0

1

2

3,625

0.19

0.46

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

Montgomery

0

0

0

0

0

0

n/a

0.00

0.00

New Kent

0

1

0

0

0

1

5,203

0.14

0.32

Newport News City

0

9

0

0

2

11

n/a

n/a

n/a

Norfolk City

9

18

0

0

10

37

2,552

0.28

0.66

Northumberland

0

0

0

0

0

0

n/a

0.00

0.00

Nottoway

0

1

0

0

0

1

6,373

0.11

0.26

Orange

5

7

0

0

1

13

873

0.81

1.92

Page

0

2

0

0

0

2

5,279

0.13

0.32

Patrick

0

1

0

0

0

1

9,823

0.07

0.17

Petersburg City

0

0

0

0

1

1

15,955

0.04

0.11

Pittsylvania

0

1

0

0

0

1

28,011

0.03

0.06

Poquoson City

0

0

0

0

0

0

n/a

0.00

0.00

Portsmouth City

0

15

0

0

1

16

2,600

0.27

0.65

Powhatan

0

0

0

0

0

0

n/a

0.00

0.00

Prince George

0

1

0

0

0

1

10,726

0.07

0.16

Prince William

193

370

0

0

97

660

149

4.72

11.24

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

0

0

0

0

0

n/a

0.00

0.00

Richmond City

1

10

0

0

2

13

7,099

0.10

0.24

Roanoke

0

2

0

0

0

2

18,061

0.04

0.09

Roanoke City

1

3

0

0

0

4

11,314

0.06

0.15

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

2

0

0

0

2

8,355

0.08

0.20

Smyth

0

1

0

0

1

2

7,556

0.09

0.22

Southampton

0

0

0

0

0

0

n/a

0.00

0.00

Spotsylvania

0

40

0

0

34

74

450

1.56

3.73

Stafford

20

34

0

0

22

76

413

1.70

4.06

Staunton City

1

1

0

0

0

2

5,214

0.14

0.32

Suffolk City

0

17

0

0

6

23

1,074

0.66

1.56

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

29

24

0

0

3

56

2,898

0.24

0.58

Warren

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

3

0

0

0

3

7,662

0.09

0.22

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

Winchester City

0

0

0

0

1

1

10,587

0.07

0.16

Wythe

0

0

0

0

0

0

n/a

0.00

0.00

York

0

0

0

0

0

0

n/a

0.00

0.00

 

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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