WEST VIRGINIA FORECLOSURES DECREASE 1 PERCENT IN JUNE

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 100 Percent From June 2006

 

IRVINE, Calif. – July 31, 2007 – West Virginia reported 152 foreclosure filings in June, a 1 percent decrease from the previous month, but still 100 percent above the number reported in 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.

 

“Although West Virginia foreclosures have decreased slightly in June, the numbers have doubled from this time last year,” said James J. Sacaccio, chief executive officer of RealtyTrac. “Statistics show that the state’s home price appreciation rate was below the national average last year. This may be contributing to the overall rise.”

 

West Virginia ranked among the 10 lowest states in total foreclosures for June. The state’s foreclosure rate of one foreclosure filing for every 5,557 households ranked it again among the 10 lowest states.

 

Kanawha County leads state in foreclosure activity

Kanawha County led the state in foreclosure activity for June, reporting 37 foreclosure filings. Mercer County reported the second highest county total with 12 foreclosure filings. Berkeley County came in third with 10 foreclosure filings for the month.

 

Lewis County posts highest foreclosure rate

Lewis County posted the highest foreclosure rate in the state, with one foreclosure filing for every 1,986 households — 2.8 times the state average. Summers County posted the second highest foreclosure rate in the state, with one foreclosure filing for every 2,444 households — 2.3 times the state average. Mercer County posted the third highest foreclosure rate, with one foreclosure filing for every 2,512 households — 2.2 times the state average.

 

State contributes less than 1 percent to national total

Total foreclosure filings in West Virginia accounted for less than 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.

 

 

               West 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

West Virginia

1

144

0

0

7

152

5,557

0.13

n/a

 

 

 

 

 

 

 

 

 

 

Berkeley

0

10

0

0

0

10

3,291

0.21

1.69

Boone

0

1

0

0

0

1

11,575

0.06

0.48

Brooke

0

2

0

0

0

2

5,575

0.13

1.00

Cabell

0

5

0

0

0

5

9,123

0.08

0.61

Clay

0

0

0

0

0

0

n/a

0.00

0.00

Fayette

0

1

0

0

1

2

10,808

0.07

0.51

Greenbrier

0

2

0

0

0

2

8,822

0.08

0.63

Hampshire

0

1

0

0

0

1

11,185

0.06

0.50

Hancock

0

4

0

0

1

5

2,946

0.24

1.89

Harrison

0

4

0

0

0

4

7,778

0.09

0.71

Jackson

0

4

0

0

0

4

3,061

0.23

1.82

Jefferson

0

5

0

0

1

6

2,937

0.24

1.89

Kanawha

0

35

0

0

2

37

2,535

0.28

2.19

Lewis

0

4

0

0

0

4

1,986

0.36

2.80

Lincoln

0

1

0

0

0

1

9,846

0.07

0.56

Logan

0

2

0

0

0

2

8,404

0.08

0.66

Mason

0

3

0

0

0

3

4,019

0.18

1.38

Mercer

0

12

0

0

0

12

2,512

0.28

2.21

Mineral

0

3

0

0

0

3

4,031

0.17

1.38

Monongalia

0

5

0

0

0

5

7,339

0.10

0.76

Monroe

0

0

0

0

0

0

n/a

0.00

0.00

Ohio

0

4

0

0

2

6

3,694

0.19

1.50

Pocahontas

0

1

0

0

0

1

7,594

0.09

0.73

Putnam

0

7

0

0

0

7

3,089

0.23

1.80

Raleigh

0

9

0

0

0

9

3,964

0.18

1.40

Randolph

0

2

0

0

0

2

6,739

0.10

0.82

Roane

0

0

0

0

0

0

n/a

0.00

0.00

Summers

0

3

0

0

0

3

2,444

0.29

2.27

Wayne

1

4

0

0

0

5

3,821

0.18

1.45

Wetzel

0

1

0

0

0

1

8,313

0.08

0.67

Wirt

0

0

0

0

0

0

n/a

0.00

0.00

Wood

0

9

0

0

0

9

4,421

0.16

1.26

 

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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