VIRGINIA FORECLOSURES INCREASE 2 PERCENT IN FEBRUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Soars 152 Percent From a Year Ago

 

IRVINE, Calif. – March 26, 2007 – Virginia reported 718 foreclosure filings in February, a 2 percent increase from the previous month and soaring 152 percent above the level reported for the same month last year, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 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.

 

“Even with the small increase in foreclosure activity compared to last month, Virginia’s employment growth remains strong as does consumer demand for real estate loans,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Virginia ranked 28th in the country in total foreclosures reported for February. The state’s foreclosure rate of one foreclosure filing for every 4,020 households ranked 36th among the 50 states.

 

Prince William County leads state in foreclosure activity and rate

Prince William County reported the highest foreclosure total in the state for the month with 223 foreclosure filings. The county also tallied the highest foreclosure rate in the state with one foreclosure filing for every 442 households — 9.1 times the state average and twice the national average.

 

Fairfax County reported the state’s second highest total with 115 foreclosure filings. The third highest total was in Loudon County, reporting 108 filings in the foreclosure pipeline.

 

Loudon County had the second highest foreclosure rate for February, with one foreclosure filing for every 576 households — seven times the state average and 1.5 times the national average. Manassas City County reported the third highest rate, one foreclosure filing for every 713 households — 5.6 times the state average and 1.2 times the national average.

 

State makes minimal contribution to national total

The total number of foreclosure filings in Virginia accounted for less than 1 percent of the 130,786 filings nationwide in February. The national total was down 4 percent from the previous month, but still up 12 percent from February 2006. The nation’s foreclosure rate increased slightly to one foreclosure filing for every 884 households during 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 – February 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

29,662

47,127

9,404

22,479

22,114

130,786

884

n/a

n/a

Virginia

15

494

0

0

209

718

4,020

0.22

n/a

 

 

 

 

 

 

 

 

 

 

Alexandria City

0

6

0

0

0

6

10,709

0.08

0.38

Amelia

0

0

0

0

0

0

n/a

0.00

0.00

Amherst

0

1

0

0

0

1

12,958

0.07

0.31

Appomattox

0

1

0

0

0

1

5,828

0.15

0.69

Arlington

0

2

0

0

4

6

15,071

0.06

0.27

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

0

0

0

0

0

 n/a

0.00

0.00

Bristol

0

4

0

0

0

4

2,117

0.42

1.90

Brunswick

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

0

0

0

0

0

 n/a

0.00

0.00

Carroll

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

5,864

0.15

0.69

Chesapeake City

0

6

0

0

2

8

9,084

0.10

0.44

Chesterfield

1

6

0

0

0

7

13,958

0.06

0.29

Clarke

0

1

0

0

0

1

5,388

0.16

0.75

Colonial Heights City

0

1

0

0

0

1

7,340

0.12

0.55

Craig

0

0

0

0

0

0

 n/a

0.00

0.00

Culpeper

0

6

0

0

5

11

1,170

0.76

3.44

Danville City

0

1

0

0

17

18

1,284

0.69

3.13

Dinwiddie

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

0

115

0

0

0

115

3,125

0.28

1.29

Fairfax City

0

6

0

0

0

6

1,367

0.65

2.94

Falls Church City

0

1

0

0

0

1

4,725

0.19

0.85

Fauquier

0

6

0

0

0

6

3,508

0.25

1.15

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

22,717

0.04

0.18

Franklin City

0

0

0

0

0

0

 n/a

0.00

0.00

Frederick

0

0

0

0

0

0

 n/a

0.00

0.00

Fredericksburg City

0

1

0

0

0

1

8,888

0.10

0.45

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

0

0

0

0

0

 n/a

0.00

0.00

Grayson

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

Hampton City

0

3

0

0

1

4

14,328

0.06

0.28

Hanover

0

0

0

0

0

0

 n/a

0.00

0.00

Harrisonburg City

0

0

0

0

0

0

 n/a

0.00

0.00

Henrico

0

2

0

0

0

2

56,285

0.02

0.07

Henry

0

1

0

0

0

1

25,921

0.03

0.16

Hopewell City

0

1

0

0

0

1

9,749

0.09

0.41

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

0

1

0

0

0

1

6,820

0.13

0.59

King William

0

0

0

0

0

0

 n/a

0.00

0.00

Loudoun

0

67

0

0

41

108

576

1.54

6.98

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

1

0

0

0

1

27,640

0.03

0.15

Manassas City

0

12

0

0

5

17

713

1.24

5.64

Manassas Park City

0

1

0

0

0

1

3,365

0.26

1.19

Martinsville City

0

1

0

0

0

1

7,249

0.12

0.55

Mathews

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

1

0

0

0

1

32,527

0.03

0.12

Nelson

0

1

0

0

0

1

8,554

0.10

0.47

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

 

 

Norfolk City

1

7

0

0

10

18

5,245

0.17

0.77

Northampton

0

1

0

0

0

1

6,547

0.14

0.61

Norton City

1

0

0

0

0

1

1,946

0.45

2.07

Nottoway

0

0

0

0

0

0

 n/a

0.00

0.00

Orange

3

4

0

0

4

11

1,032

0.86

3.89

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

1

0

0

0

0

1

15,955

0.06

0.25

Pittsylvania

0

3

0

0

0

3

9,337

0.09

0.43

Poquoson City

0

0

0

0

0

0

 n/a

0.00

0.00

Portsmouth City

0

10

0

0

0

10

4,161

0.21

0.97

Powhatan

0

1

0

0

0

1

7,509

0.12

0.54

Prince Edward

0

0

0

0

0

0

 n/a

0.00

0.00

Prince George

0

1

0

0

0

1

10,726

0.08

0.37

Prince William

3

133

0

0

87

223

442

2.00

9.10

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

1

1

3,303

0.27

1.22

Richmond City

0

3

0

0

0

3

30,761

0.03

0.13

Roanoke

0

2

0

0

0

2

18,061

0.05

0.22

Roanoke City

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

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

0

0

0

0

0

 n/a

0.00

0.00

Southampton

0

0

0

0

0

0

 n/a

0.00

0.00

Spotsylvania

0

23

0

0

1

24

1,389

0.64

2.89

Stafford

2

25

0

0

15

42

748

1.18

5.38

Staunton City

0

1

0

0

0

1

10,427

0.08

0.39

Suffolk City

1

2

0

0

0

3

8,235

0.11

0.49

Surry

0

0

0

0

0

0

 n/a

0.00

0.00

Sussex

0

1

0

0

0

1

4,653

0.19

0.86

Virginia Beach City

2

13

0

0

16

31

5,235

0.17

0.77

Warren

0

0

0

0

0

0

 n/a

0.00

0.00

Washington

0

1

0

0

0

1

22,985

0.04

0.17

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

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 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

 

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