VIRGINIA FORECLOSURES INCREASE 88 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Up 43 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – Virginia documented 695 new foreclosure filings in January, an 88 percent increase from the previous month, and a 43 percent increase from January 2006, 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 rise in foreclosure activity, Virginia’s employment growth remains strong as does the state’s demand for real estate loans,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Virginia ranked 27th in the country in total foreclosures reported for January. The state’s foreclosure rate of one new foreclosure filing for every 4,153 households ranked 39th among the 50 states.

 

Prince William County leads state in foreclosure activity

Prince William County documented the highest total, reporting 191 foreclosure filings for the month. Loudon County documented the second highest total in the state, reporting 110 filings. Fairfax County posted the state’s third highest total, reporting 74 foreclosure filings.

 

Prince William County leads state in foreclosure rate

Prince William County tallied the highest foreclosure rate in Virginia for January, with one new foreclosure filing for every 516 households — 8.1 times the state average and 1.7 times the national average. Loudon County registered the second highest rate, with one new foreclosure filing for every 565 households — 7.4 times the state average and 1.6 times the national average. Manassas City County registered the third highest foreclosure rate, with one new foreclosure filing for every 673 households — 6.2 times the state average and 1.3 times the national average.

 

State makes small contribution to national total

Virginia accounted for 1 percent of the 130,511 foreclosure filings nationwide in January, up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Virginia

10

486

0

0

199

695

4,153

0.21

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

8

0

0

0

8

8,031

0.11

0.52

Amelia

0

0

0

0

0

0

n/a

0.00

0.00

Amherst

0

5

0

0

0

5

2,592

0.34

1.60

Appomattox

0

0

0

0

0

0

n/a

0.00

0.00

Arlington

0

5

0

0

5

10

9,043

0.10

0.46

Augusta

0

0

0

0

0

0

n/a

0.00

0.00

Bedford

0

2

0

0

0

2

13,421

0.07

0.31

Bland

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

1

0

0

0

1

8,469

0.10

0.49

Brunswick

0

0

0

0

0

0

n/a

0.00

0.00

Buckingham

0

2

0

0

0

2

3,145

0.28

1.32

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

0.20

0.93

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

1

0

0

0

1

17,591

0.05

0.24

Chesapeake City

0

20

0

0

0

20

3,634

0.24

1.14

Chesterfield

0

11

0

0

0

11

8,882

0.10

0.47

Clarke

0

3

0

0

0

3

1,796

0.49

2.31

Colonial Heights 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

0

5

0

0

2

7

1,839

0.48

2.26

Cumberland

0

2

0

0

0

2

2,043

0.43

2.03

Danville City

0

4

0

0

1

5

4,622

0.19

0.90

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

73

0

0

0

74

4,857

0.18

0.86

Fairfax City

0

4

0

0

0

4

2,051

0.43

2.02

Falls Church City

0

0

0

0

0

0

n/a

0.00

0.00

Fauquier

0

6

0

0

1

7

3,007

0.29

1.38

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

2

0

0

0

2

11,359

0.08

0.37

Franklin City

0

0

0

0

0

0

n/a

0.00

0.00

Frederick

0

1

0

0

0

1

23,319

0.04

0.18

Fredericksburg City

0

3

0

0

0

3

2,963

0.30

1.40

Galax City

0

0

0

0

0

0

n/a

0.00

0.00

Giles

0

1

0

0

0

1

7,732

0.11

0.54

Gloucester

0

3

0

0

0

3

4,831

0.18

0.86

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

Greensville

0

0

0

0

0

0

n/a

0.00

0.00

Halifax

0

2

0

0

0

2

8,477

0.10

0.49

Hampton City

0

3

0

0

0

3

19,104

0.05

0.22

Hanover

0

1

0

0

0

1

21,196

0.04

0.20

Harrisonburg City

0

1

0

0

0

1

13,689

0.06

0.30

Henrico

0

5

0

0

0

5

22,514

0.04

0.18

Henry

0

1

0

0

0

1

25,921

0.03

0.16

Hopewell City

0

0

0

0

0

0

n/a

0.00

0.00

Isle Of Wight

0

0

0

0

0

0

n/a

0.00

0.00

James Wity

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

0

0

0

0

0

0

n/a

0.00

0.00

King William

0

0

0

0

0

0

n/a

0.00

0.00

Lancaster

0

1

0

0

0

1

6,498

0.14

0.64

Lexington City

0

1

0

0

0

1

n/a

n/a

n/a

Loudoun

2

59

0

0

49

110

565

1.57

7.35

Louisa

0

1

0

0

0

1

11,855

0.07

0.35

Lynchburg City

0

2

0

0

0

2

13,820

0.06

0.30

Madison

0

0

0

0

0

0

n/a

0.00

0.00

Manassas City

1

9

0

0

8

18

673

1.32

6.17

Martinsville City

0

1

0

0

0

1

7,249

0.12

0.57

Mecklenburg

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

0

0

0

0

0

n/a

0.00

0.00

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

1

0

0

0

1

n/a

n/a

n/a

Norfolk City

0

20

0

0

8

28

3,372

0.26

1.23

Northampton

0

1

0

0

0

1

6,547

0.14

0.63

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

0

2

0

0

1

3

3,785

0.23

1.10

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

2

0

0

0

2

7,978

0.11

0.52

Pittsylvania

0

1

0

0

0

1

28,011

0.03

0.15

Poquoson City

0

0

0

0

0

0

n/a

0.00

0.00

Portsmouth City

1

9

0

0

0

10

4,161

0.21

1.00

Powhatan

0

0

0

0

0

0

n/a

0.00

0.00

Prince Edward

0

2

0

0

0

2

3,764

0.24

1.10

Prince George

0

1

0

0

0

1

10,726

0.08

0.39

Prince William

1

93

0

0

97

191

516

1.72

8.05

Pulaski

0

4

0

0

0

4

4,081

0.22

1.02

Radford

0

1

0

0

0

1

6,137

0.14

0.68

Rappahannock

0

0

0

0

0

0

n/a

0.00

0.00

Richmond

0

0

0

0

0

0

n/a

0.00

0.00

Richmond City

2

10

0

0

0

12

7,690

0.12

0.54

Roanoke

0

0

0

0

0

0

n/a

0.00

0.00

Roanoke City

0

3

0

0

0

3

15,086

0.06

0.28

Rockbridge

0

1

0

0

0

1

9,550

0.09

0.43

Rockingham

0

1

0

0

0

1

27,328

0.03

0.15

Salem

0

2

0

0

0

2

5,202

0.17

0.80

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

15

0

0

4

19

1,754

0.51

2.37

Stafford

0

28

0

0

13

41

766

1.16

5.42

Staunton City

0

0

0

0

0

0

n/a

0.00

0.00

Suffolk City

0

9

0

0

0

9

2,745

0.32

1.51

Surry

0

0

0

0

0

0

n/a

0.00

0.00

Sussex

1

0

0

0

0

1

4,653

0.19

0.89

Tazewell

0

1

0

0

0

1

20,390

0.04

0.20

Virginia Beach City

1

21

0

0

10

32

5,071

0.17

0.82

Warren

0

1

0

0

0

1

13,299

0.07

0.31

Washington

0

4

0

0

0

4

5,746

0.15

0.72

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

2

0

0

0

2

5,294

0.17

0.78

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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