WEST VIRGINIA FORECLOSURES SURGES 84 PERCENT IN APRIL

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Soars 250 Percent From a Year Ago

 

IRVINE, Calif. – May 18, 2007 – West Virginia reported 175 foreclosure filings in April, an 84 percent surge in activity from the previous month, and soaring 250 percent from April 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 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.

 

West Virginia foreclosures have increased significantly in April and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s home price appreciation rate was below the national average in 2006, which may be contributing to higher foreclosure rates. Still, West Virginia has one of the lowest foreclosure numbers when compared to other states.”

 

West Virginia ranked 40th in the country in total foreclosures for April. The state’s foreclosure rate of one foreclosure filing for every 4,826 households ranks it among the nation’s 10 lowest states.

 

Kanawha County accounts for largest share of state total

Kanawha County reported the highest total for the month, reporting 29 foreclosure filings. Wood County came in second with 24 foreclosure filings, followed by Raleigh County with 20 filings in the foreclosure pipeline.

 

Wood County posts highest foreclosure rate

Wood County posted the highest foreclosure rate in West Virginia for April, reporting one foreclosure filing for every 1,658 households — 2.9 times the state average. Raleigh County had the second highest rate with one foreclosure filing for every 1,784 households — 2.7 times the state average. Putnam County reported the third highest rate with one filing for every 1,802 households — 2.7 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 147,708 foreclosure 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 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 – 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

West Virginia

0

175

0

0

0

175

4,826

0.16

n/a

 

 

 

 

 

 

 

 

 

 

Barbour

0

1

0

0

0

1

7,348

0.11

0.66

Berkeley

0

13

0

0

0

13

2,532

0.31

1.91

Boone

0

1

0

0

0

1

11,575

0.07

0.42

Braxton

0

1

0

0

0

1

7,374

0.11

0.65

Brooke

0

2

0

0

0

2

5,575

0.14

0.87

Cabell

0

6

0

0

0

6

7,603

0.10

0.63

Clay

0

1

0

0

0

1

4,836

0.16

1.00

Fayette

0

6

0

0

0

6

3,603

0.22

1.34

Greenbrier

0

2

0

0

0

2

8,822

0.09

0.55

Hampshire

0

2

0

0

0

2

5,593

0.14

0.86

Hancock

0

0

0

0

0

0

n/a

0.00

0.00

Hardy

0

0

0

0

0

0

n/a

0.00

0.00

Harrison

0

5

0

0

0

5

6,222

0.13

0.78

Jackson

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

0

5

0

0

0

5

3,525

0.22

1.37

Kanawha

0

29

0

0

0

29

3,234

0.24

1.49

Lewis

0

1

0

0

0

1

7,944

0.10

0.61

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Logan

0

1

0

0

0

1

16,807

0.05

0.29

Marion

0

2

0

0

0

2

13,330

0.06

0.36

Marshall

0

1

0

0

0

1

15,814

0.05

0.31

Mason

0

1

0

0

0

1

12,056

0.06

0.40

Mercer

0

10

0

0

0

10

3,014

0.26

1.60

Mineral

0

1

0

0

0

1

12,094

0.06

0.40

Monongalia

0

6

0

0

0

6

6,116

0.13

0.79

Monroe

0

2

0

0

0

2

3,634

0.22

1.33

Morgan

0

0

0

0

0

0

n/a

0.00

0.00

Nicholas

0

2

0

0

0

2

6,203

0.13

0.78

Ohio

0

2

0

0

0

2

11,083

0.07

0.44

Preston

0

2

0

0

0

2

6,722

0.12

0.72

Putnam

0

12

0

0

0

12

1,802

0.43

2.68

Raleigh

0

20

0

0

0

20

1,784

0.44

2.71

Randolph

0

4

0

0

0

4

3,370

0.23

1.43

Roane

0

1

0

0

0

1

7,360

0.11

0.66

Summers

0

1

0

0

0

1

7,331

0.11

0.66

Tucker

0

0

0

0

0

0

n/a

0.00

0.00

Tyler

0

2

0

0

0

2

2,390

0.33

2.02

Upshur

0

2

0

0

0

2

5,376

0.15

0.90

Wayne

0

2

0

0

0

2

9,554

0.08

0.51

Wetzel

0

2

0

0

0

2

4,157

0.19

1.16

Wood

0

24

0

0

0

24

1,658

0.47

2.91

 

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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