WEST VIRGINIA FORECLOSURES UP 129 PERCENT IN DECEMBER

State’s Activity Level Down 7 Percent From a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – West Virginia reported 110 new foreclosure filings in December, a 129 percent increase from the 48 properties reported in November, but a 7 percent decrease from the 118 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 700,000 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.

 

“Although West Virginia’s job growth continues to trail the national average, which could be contributing to the spike in foreclosures this month,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, West Virginia’s foreclosure rate is still the tenth lowest in the nation.”

 

West Virginia ranked 38th in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 7,678 households ranked 40th among the 50 states.

 

Kanawha County accounts for largest share of state total

Kanawha County reported the largest share of West Virginia’s foreclosure activity in December, with 55 new foreclosure filings recorded during the month. Mercer, Raleigh and Wood Counties tied for the second highest total, each with eight properties in some stage of foreclosure.

 

Kanawha County posts state’s highest foreclosure rate

Kanawha County also posted the state’s highest foreclosure rate for December, one new foreclosure filing for every 1,705 households — 4.5 times the state average but still below the national average. Mercer County reported the second highest foreclosure rate, one new foreclosure filing for every 3,768 households — 2 times the state average. Putnam County documented the third highest foreclosure rate, one new foreclosure filing for every 4,324 households — 1.8 times the state average.

 

State makes minor contribution to national total

West Virginia’s foreclosure activity accounted for less than 1 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 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: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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 – December 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

West Virginia

2

108

0

0

0

110

7,678

0.14

n/a

 

 

 

 

 

 

 

 

 

 

Barbour

1

0

0

0

0

1

7,348

0.14

1.04

Berkeley

0

4

0

0

0

4

8,228

0.13

0.93

Boone

0

1

0

0

0

1

11,575

0.09

0.66

Cabell

0

4

0

0

0

4

11,404

0.09

0.67

Fayette

0

1

0

0

0

1

21,616

0.05

0.36

Hancock

0

2

0

0

0

2

7,364

0.14

1.04

Jackson

0

1

0

0

0

1

12,245

0.09

0.63

Jefferson

0

1

0

0

0

1

17,623

0.06

0.44

Kanawha

0

55

0

0

0

55

1,705

0.62

4.50

Lewis

0

1

0

0

0

1

7,944

0.13

0.97

Marion

1

0

0

0

0

1

26,660

0.04

0.29

Mason

0

1

0

0

0

1

12,056

0.09

0.64

Mercer

0

8

0

0

0

8

3,768

0.28

2.04

Monongalia

0

2

0

0

0

2

18,348

0.06

0.42

Morgan

0

1

0

0

0

1

8,076

0.13

0.95

Nicholas

0

1

0

0

0

1

12,406

0.09

0.62

Putnam

0

5

0

0

0

5

4,324

0.24

1.78

Raleigh

0

8

0

0

0

8

4,460

0.24

1.72

Randolph

0

0

0

0

0

0

n/a

0.00

0.00

Roane

0

1

0

0

0

1

7,360

0.14

1.04

Wayne

0

1

0

0

0

1

19,107

0.06

0.40

Webster

0

1

0

0

0

1

5,273

0.20

1.46

Wetzel

0

1

0

0

0

1

8,313

0.13

0.92

Wood

0

8

0

0

0

8

4,973

0.21

1.54

 

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 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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