WEST VIRGINIA FORECLOSURE ACTIVITY UP 51 PERCENT IN SEPTEMBER

Filings Statewide Decrease 24 Percent From September 2007

 

IRVINE, Calif. – Oct. 27, 2008 – Foreclosure filings were reported on 65 West Virginia properties in September, an increase of 51 percent from the previous month, but still 24 percent below the level reported for September 2007, 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.

 

West Virginia’s unemployment rate decreased slightly in September to 3.7 percent, far below the national average,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s jobless rate drops, foreclosure activity remains elevated compared to one month earlier.”

 

West Virginia ranked 45th in the country in total properties reported with foreclosure filings for September. One in every 13,504 West Virginia households received a foreclosure filing during the month, ranking 48th among the 50 states.

 

Wood County tops in foreclosure activity for September

Wood County led the state reporting 16 properties with foreclosure filings for the month. Berkeley County came in second highest, reporting 15 properties with foreclosure filings. Kanawha County ranked third highest, reporting 11 properties with foreclosure filings. 

 

Wood County reports highest foreclosure rate in September

Wood County posted the top foreclosure rate in West Virginia for September, with one in every 2,545 households receiving a foreclosure filing during the month — 5.3 times the state average. Berkeley County registered the second highest rate, where one in every 2,756 households received a foreclosure filing — 4.9 times the state average. Tucker County posted the third highest rate, where one in every 4,794 households received a foreclosure filing — 2.4 times the state average. 

 

State a minor contributor to nation’s foreclosure total in September

West Virginia accounted for less than 1 percent of the 265,968 properties with foreclosure filings reported nationwide in September. The national total represents a decrease of more than 12 percent from the previous month but is still 21 percent ahead of the total reported for September 2007. The nation’s foreclosure rate decreased to one in every 475 U.S. households receiving 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.

 

         West Virginia Foreclosure Market Data by County – September 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

39,828

58,606

61,442

24,780

81,312

265,968

475

n/a

n/a

West Virginia

1

0

43

0

21

65

13,504

0.04

n/a

 

 

 

 

 

 

 

 

 

 

Barbour

0

0

0

0

0

0

 n/a

0.00

0.00

Berkeley

0

0

13

0

2

15

2,756

0.17

4.90

Boone

0

0

0

0

0

0

 n/a

0.00

0.00

Braxton

0

0

0

0

0

0

 n/a

0.00

0.00

Brooke

0

0

0

0

0

0

 n/a

0.00

0.00

Cabell

1

0

4

0

0

5

9,240

0.05

1.46

Calhoun

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Doddridge

0

0

0

0

0

0

 n/a

0.00

0.00

Fayette

0

0

0

0

0

0

 n/a

0.00

0.00

Gilmer

0

0

0

0

0

0

 n/a

0.00

0.00

Grant

0

0

0

0

0

0

 n/a

0.00

0.00

Greenbrier

0

0

0

0

2

2

9,213

0.05

1.47

Hampshire

0

0

1

0

0

1

12,205

0.04

1.11

Hancock

0

0

1

0

0

1

14,812

0.03

0.91

Hardy

0

0

0

0

0

0

 n/a

0.00

0.00

Harrison

0

0

1

0

1

2

15,928

0.03

0.85

Jackson

0

0

1

0

0

1

12,610

0.04

1.07

Jefferson

0

0

1

0

1

2

10,562

0.04

1.28

Kanawha

0

0

11

0

0

11

8,629

0.06

1.57

Lewis

0

0

0

0

0

0

 n/a

0.00

0.00

Lincoln

0

0

0

0

0

0

 n/a

0.00

0.00

Logan

0

0

0

0

0

0

 n/a

0.00

0.00

Marion

0

0

1

0

0

1

27,081

0.02

0.50

Marshall

0

0

0

0

0

0

 n/a

0.00

0.00

Mason

0

0

0

0

0

0

 n/a

0.00

0.00

Mcdowell

0

0

0

0

0

0

 n/a

0.00

0.00

Mercer

0

0

1

0

1

2

15,079

0.03

0.90

Mineral

0

0

0

0

0

0

 n/a

0.00

0.00

Mingo

0

0

0

0

0

0

 n/a

0.00

0.00

Monongalia

0

0

1

0

0

1

37,885

0.01

0.36

Monroe

0

0

0

0

0

0

 n/a

0.00

0.00

Morgan

0

0

0

0

0

0

 n/a

0.00

0.00

Nicholas

0

0

0

0

0

0

 n/a

0.00

0.00

Ohio

0

0

0

0

0

0

 n/a

0.00

0.00

Pendleton

0

0

0

0

0

0

 n/a

0.00

0.00

Pleasants

0

0

0

0

0

0

 n/a

0.00

0.00

Pocahontas

0

0

0

0

0

0

 n/a

0.00

0.00

Preston

0

0

0

0

0

0

 n/a

0.00

0.00

Putnam

0

0

1

0

0

1

23,173

0.02

0.58

Raleigh

0

0

0

0

0

0

 n/a

0.00

0.00

Randolph

0

0

0

0

0

0

 n/a

0.00

0.00

Ritchie

0

0

1

0

0

1

5,643

0.08

2.39

Roane

0

0

0

0

0

0

 n/a

0.00

0.00

Summers

0

0

0

0

0

0

 n/a

0.00

0.00

Taylor

0

0

0

0

0

0

 n/a

0.00

0.00

Tucker

0

0

1

0

0

1

4,794

0.10

2.82

Tyler

0

0

0

0

0

0

 n/a

0.00

0.00

Upshur

0

0

0

0

0

0

 n/a

0.00

0.00

Wayne

0

0

2

0

0

2

9,718

0.05

1.39

Webster

0

0

0

0

0

0

 n/a

0.00

0.00

Wetzel

0

0

0

0

0

0

 n/a

0.00

0.00

Wirt

0

0

0

0

0

0

 n/a

0.00

0.00

Wood

0

0

2

0

14

16

2,545

0.19

5.31

Wyoming

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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