VIRGINIA FORECLOSURES INCREASE 38 PERCENT IN APRIL

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 395 Percent From a Year Earlier

 

IRVINE, Calif. – May 18, 2007 – Virginia reported 1,455 foreclosure filings in April, a 38 percent increase in activity from the previous month, and a 395 percent increase from April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state posted the 27th highest foreclosure rate in the country for the month, with one foreclosure filing for every 1,984 households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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.

 

Virginia’s employment growth has slowed and the state is now seeing a marked increase in foreclosure activity,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, even with this increase in activity, the state’s foreclosure rate remains below the national average.”

 

Virginia ranked 21st in the country in total foreclosures reported for April.

 

Prince William County leads the state in foreclosure activity

Prince William County led the state, reporting 403 foreclosure filings for the month. Loudon County came in second, reporting 236 foreclosure filings. Fairfax County posted the third highest foreclosure total, reporting 225 foreclosure filings.

 

Manassas City County leads state in foreclosure rate for the month

Manassas City County posted the highest foreclosure rate in the state for April, with one foreclosure filing for every 216 households — 9.2 times the state average and 3.6 times the national average. Prince William County tallied the state’s second highest foreclosure rate, with one foreclosure filing for every 244 households — 8.1 times the state average and 3.2 times the national average. Loudon County posted the third highest foreclosure rate, with one foreclosure filing for every 263 households — 7.5 times the state average and 3 times the national average.

 

State makes small contribution to national total

Total foreclosure filings in Virginia accounted for 1 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Virginia

379

920

0

0

156

1,455

1,984

0.39

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

5

0

0

0

5

12,850

0.06

0.15

Amelia

0

0

0

0

0

0

n/a

0.00

0.00

Amherst

0

1

0

0

0

1

12,958

0.06

0.15

Appomattox

0

0

0

0

0

0

n/a

0.00

0.00

Arlington

21

12

0

0

6

39

2,319

0.34

0.86

Augusta

0

0

0

0

0

0

n/a

0.00

0.00

Bedford

0

1

0

0

0

1

26,841

0.03

0.07

Botetourt

0

1

0

0

0

1

12,571

0.06

0.16

Bristol

0

2

0

0

0

2

4,235

0.18

0.47

Brunswick

0

1

0

0

0

1

7,541

0.10

0.26

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

2

0

0

0

2

4,445

0.18

0.45

Carroll

0

0

0

0

0

0

n/a

0.00

0.00

Charles City

0

1

0

0

0

1

2,895

0.27

0.69

Charlottesville City

0

1

0

0

0

1

17,591

0.04

0.11

Chesapeake City

0

17

0

0

2

19

3,825

0.20

0.52

Chesterfield

0

11

0

0

0

11

8,882

0.09

0.22

Clarke

0

5

0

0

0

5

1,078

0.73

1.84

Colonial Heights City

0

0

0

0

0

0

n/a

0.00

0.00

Covington City

0

1

0

0

0

1

3,195

0.25

0.62

Craig

0

0

0

0

0

0

n/a

0.00

0.00

Culpeper

0

16

0

0

9

25

515

1.52

3.85

Cumberland

0

0

0

0

0

0

 

0.00

0.00

Danville City

7

5

0

0

0

12

1,926

0.41

1.03

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

1

221

0

0

3

225

1,597

0.49

1.24

Fairfax City

0

10

0

0

0

10

820

0.95

2.42

Falls Church City

1

1

0

0

0

2

2,363

0.33

0.84

Fauquier

0

8

0

0

7

15

1,403

0.56

1.41

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

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

18

1

0

0

0

19

1,227

0.64

1.62

Fredericksburg City

0

2

0

0

0

2

4,444

0.18

0.45

Galax City

0

1

0

0

0

1

3,217

0.24

0.62

Giles

0

0

0

0

0

0

n/a

0.00

0.00

Gloucester

0

1

0

0

0

1

14,494

0.05

0.14

Goochland

0

1

0

0

0

1

6,555

0.12

0.30

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

0

1

0

0

0

1

16,953

0.05

0.12

Hampton City

0

5

0

0

0

5

11,462

0.07

0.17

Hanover

0

1

0

0

0

1

21,196

0.04

0.09

Harrisonburg City

0

1

0

0

0

1

13,689

0.06

0.14

Henrico

0

7

0

0

1

8

14,071

0.06

0.14

Henry

0

1

0

0

0

1

25,921

0.03

0.08

Hopewell City

0

3

0

0

0

3

3,250

0.24

0.61

Isle Of Wight

0

1

0

0

0

1

12,066

0.06

0.16

James City

0

2

0

0

0

2

10,386

0.08

0.19

King And queen

0

0

0

0

0

0

n/a

0.00

0.00

King George

3

2

0

0

0

5

1,364

0.57

1.45

King William

0

0

0

0

0

0

n/a

0.00

0.00

Lancaster

0

3

0

0

0

3

2,166

0.36

0.92

Lexington City

0

0

0

0

0

0

n/a

0.00

0.00

Loudoun

104

100

0

0

32

236

263

2.97

7.53

Louisa

0

2

0

0

0

2

5,928

0.13

0.33

Lynchburg City

0

5

0

0

0

5

5,528

0.14

0.36

Madison

0

1

0

0

0

1

5,239

0.15

0.38

Manassas City

22

27

0

0

7

56

216

3.62

9.17

Martinsville City

0

2

0

0

0

2

3,625

0.22

0.55

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

2

0

0

0

2

16,264

0.05

0.12

Nelson

0

0

0

0

0

0

n/a

0.00

0.00

New Kent

0

0

0

0

0

0

n/a

0.00

0.00

Newport News City

0

7

0

0

1

8

n/a

 

 

Norfolk City

15

18

0

0

15

48

1,967

0.40

1.01

Northampton

0

2

0

0

0

2

3,274

0.24

0.61

Northumberland

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

12

8

0

0

8

28

406

1.93

4.89

Page

0

1

0

0

0

1

10,557

0.07

0.19

Patrick

0

1

0

0

0

1

9,823

0.08

0.20

Petersburg City

0

2

0

0

0

2

7,978

0.10

0.25

Pittsylvania

0

2

0

0

0

2

14,006

0.06

0.14

Poquoson City

0

0

0

0

0

0

n/a

0.00

0.00

Portsmouth City

0

15

0

0

0

15

2,774

0.28

0.72

Powhatan

1

1

0

0

0

2

3,755

0.21

0.53

Prince George

0

1

0

0

0

1

10,726

0.07

0.18

Prince William

125

226

0

0

52

403

244

3.20

8.12

Pulaski

0

1

0

0

0

1

16,325

0.05

0.12

Radford

0

1

0

0

0

1

6,137

0.13

0.32

Richmond City

0

10

0

0

0

10

9,228

0.08

0.21

Roanoke

0

6

0

0

0

6

6,020

0.13

0.33

Roanoke City

0

8

0

0

0

8

5,657

0.14

0.35

Rockbridge

0

1

0

0

0

1

9,550

0.08

0.21

Rockingham

0

1

0

0

0

1

27,328

0.03

0.07

Russell

0

0

0

0

0

0

n/a

0.00

0.00

Salem

0

1

0

0

0

1

10,403

0.08

0.19

Scott

0

0

0

0

0

0

n/a

0.00

0.00

Shenandoah

0

1

0

0

0

1

16,709

0.05

0.12

Smyth

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

35

0

0

0

35

952

0.82

2.08

Stafford

3

36

0

0

5

44

714

1.10

2.78

Staunton City

0

0

0

0

0

0

n/a

0.00

0.00

Suffolk City

0

7

0

0

1

8

3,088

0.25

0.64

Sussex

0

0

0

0

0

0

n/a

0.00

0.00

Virginia Beach City

46

26

0

0

7

79

2,054

0.38

0.97

Warren

0

2

0

0

0

2

6,650

0.12

0.30

Washington

0

2

0

0

0

2

11,493

0.07

0.17

Waynesboro City

0

0

0

0

0

0

n/a

0.00

0.00

Winchester City

0

1

0

0

0

1

10,587

0.07

0.19

Wise

0

1

0

0

0

1

17,792

0.04

0.11

Wythe

0

2

0

0

0

2

6,372

0.12

0.31

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

 

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