ALABAMA FORECLOSURES DOWN 6 PERCENT IN DECEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Soars 715 Percent From a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – Alabama reported 652 properties entering some stage of the foreclosure process in December, a 6 percent decline from the 690 properties reported in November, but soaring 715 percent above the 80 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 Alabama foreclosures decreased slightly in December, they are now more than 700 percent above what they were one year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that home sales in Alabama have declined steadily throughout the first three quarters of 2006, and that the state is still undergoing rebuilding efforts in the aftermath of Hurricane Katrina. It may be some time before the state’s economy begins to turn around.”

 

Alabama ranked 25th in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 3,011 households ranks it 29th among the 50 states.

 

Jefferson County accounts for largest share of state total

Jefferson County reported the largest share of Alabama’s foreclosures activity in December, with 320 properties entering some stage of the foreclosure process during the month. Mobile County reported the second highest total, with 232 properties entering some stage of the foreclosure process. Montgomery County held the third highest total, with 23 properties in the foreclosure pipeline.

 

State’s top foreclosure rate found in Mobile County

Mobile County posted the state’s highest foreclosure rate in December, with one new foreclosure filing for every 712 households — 4.2 times the state average and 1.5 times the national average. Jefferson County reported the second highest foreclosure rate, with one new foreclosure filing for every 901 households — 3.3 times the state average and 1.2 times the national average. Macon County documented the third highest foreclosure rate, with one new foreclosure filing for every 2,657 households.

 

State contributes less than 1 percent to national total

Alabama’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.

 

                    Alabama 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

Alabama

2

418

0

0

232

652

3,011

0.35

n/a

 

 

 

 

 

 

 

 

 

 

Autauga

0

1

0

0

0

1

17,662

0.06

0.17

Baldwin

0

5

0

0

8

13

5,714

0.18

0.53

Bibb

0

1

0

0

0

1

8,345

0.13

0.36

Blount

0

0

0

0

0

0

n/a

0.00

0.00

Bullock

0

1

0

0

0

1

4,727

0.22

0.64

Calhoun

0

3

0

0

0

3

17,107

0.06

0.18

Chambers

0

1

0

0

0

1

16,256

0.06

0.19

Cherokee

0

0

0

0

0

0

n/a

0.00

0.00

Chilton

0

1

0

0

0

1

17,651

0.06

0.17

Cleburne

0

0

0

0

0

0

n/a

0.00

0.00

Coffee

0

0

0

0

0

0

n/a

0.00

0.00

Colbert

0

0

0

0

1

1

24,980

0.04

0.12

Conecuh

0

1

0

0

0

1

7,265

0.15

0.41

Covington

0

1

0

0

0

1

18,578

0.06

0.16

Cullman

0

1

0

0

0

1

35,233

0.03

0.09

Dale

0

1

0

0

0

1

21,779

0.05

0.14

Dallas

0

1

0

0

0

1

20,450

0.05

0.15

De Kalb

0

0

0

0

0

0

n/a

0.00

0.00

Elmore

0

2

0

0

0

2

12,867

0.08

0.23

Escambia

0

0

0

0

0

0

n/a

0.00

0.00

Etowah

0

1

0

0

0

1

45,959

0.02

0.07

Geneva

0

0

0

0

0

0

n/a

0.00

0.00

Henry

0

0

0

0

0

0

n/a

0.00

0.00

Houston

0

4

0

0

0

4

9,893

0.11

0.30

Jackson

0

2

0

0

0

2

12,084

0.09

0.25

Jefferson

0

152

0

0

168

320

901

1.17

3.34

Lauderdale

0

2

0

0

0

2

20,212

0.05

0.15

Lee

0

1

0

0

0

1

50,329

0.02

0.06

Limestone

0

2

0

0

0

2

13,449

0.08

0.22

Macon

0

4

0

0

0

4

2,657

0.40

1.13

Madison

0

4

0

0

0

4

30,072

0.04

0.10

Marion

0

1

0

0

0

1

14,416

0.07

0.21

Marshall

0

1

0

0

0

1

36,331

0.03

0.08

Mobile

1

185

0

0

46

232

712

1.48

4.23

Montgomery

0

21

0

0

2

23

4,149

0.25

0.73

Morgan

0

9

0

0

0

9

5,265

0.20

0.57

Randolph

0

0

0

0

0

0

n/a

0.00

0.00

Russell

0

2

0

0

0

2

11,416

0.09

0.26

Saint Clair

1

0

0

0

2

3

9,101

0.12

0.33

Shelby

0

6

0

0

5

11

5,391

0.20

0.56

Talladega

0

0

0

0

0

0

n/a

0.00

0.00

Tuscaloosa

0

1

0

0

0

1

71,149

0.01

0.04

Walker

0

0

0

0

0

0

n/a

0.00

0.00

Washington

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 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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