ALABAMA FORECLOSURES INCREASE 40 PERCENT IN MAY

Foreclosures Up Less Than 2 Percent From Last Year

 

IRVINE, Calif. – June 30, 2006 – Alabama reported 366 properties entering some stage of foreclosure in May, a 40 percent increase from the previous month, but only a 2 percent increase from the number reported a year earlier, according to the RealtyTrac™ May 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

Although Alabama‘s foreclosure rate increased significantly in May, the numbers are virtually unchanged from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent employment growth throughout the state is likely keeping foreclosure rates low.”

 

With one foreclosure filing for every 5,365 households, Alabama‘s foreclosure rate ranked 35th among the 50 states — 23 percent of the national average. The state accounted for 0.4 percent of the nation’s total foreclosures, with 29 states reporting more foreclosure filings for the month.

 

Reporting 127 properties entering some stage of foreclosure in May, Jefferson County accounted for the largest share of foreclosure filings in Alabama. The county’s foreclosure rate of one foreclosure filing for every 2,269 households was the highest in the state — 2.4 times the state average.

 

Nationwide, a total of 92,746 properties entered some stage of foreclosure in May, an increase of less than 2 percent from the previous month but still a 28 percent year-over-year increase from May 2005. The national foreclosure rate was one foreclosure filing for every 1,247 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).

 

Alabama Foreclosure Market Statistics by County – May 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

22,455

37,186

2,849

10,176

20,180

92,746

1,247

Alabama

8

125

0

0

233

366

12,436

0.23

 

 

 

 

 

 

 

 

 

 

Autauga

0

0

0

0

0

0

0.00

0.00

Baldwin

0

1

0

0

4

5

14,857

0.08

0.36

Barbour

0

0

0

0

0

0

0.00

0.00

Bibb

0

0

0

0

1

1

8,345

0.15

0.64

Blount

0

0

0

0

3

3

7,053

0.18

0.76

Butler

0

1

0

0

0

1

9,957

0.13

0.54

Calhoun

0

4

0

0

2

6

8,554

0.15

0.63

Cherokee

0

0

0

0

2

2

7,013

0.18

0.77

Chilton

0

0

0

0

5

5

3,530

0.35

1.52

Coffee

0

0

0

0

0

0

0.00

0.00

Colbert

0

0

0

0

2

2

12,490

0.10

0.43

Covington

0

1

0

0

0

1

18,578

0.07

0.29

Cullman

0

0

0

0

2

2

17,617

0.07

0.30

Dale

0

0

0

0

0

0

0.00

0.00

Dallas

0

0

0

0

0

0

0.00

0.00

De Kalb

0

0

0

0

3

3

9,350

0.13

0.57

Elmore

0

0

0

0

1

1

25,733

0.05

0.21

Escambia

0

3

0

0

0

3

5,515

0.23

0.97

Etowah

0

0

0

0

4

4

11,490

0.11

0.47

Fayette

0

0

0

0

1

1

8,472

0.15

0.63

Franklin

0

1

0

0

1

2

6,875

0.18

0.78

Geneva

0

0

0

0

0

0

0.00

0.00

Hale

0

0

0

0

2

2

3,878

0.32

1.38

Henry

0

0

0

0

1

1

8,037

0.16

0.67

Houston

0

3

0

0

4

7

5,653

0.22

0.95

Jackson

0

0

0

0

1

1

24,168

0.05

0.22

Jefferson

2

3

0

0

122

127

2,269

0.55

2.36

Lauderdale

1

0

0

0

0

1

40,424

0.03

0.13

Lawrence

0

0

0

0

4

4

3,752

0.33

1.43

Lee

0

8

0

0

2

10

5,033

0.25

1.07

Limestone

0

0

0

0

6

6

4,483

0.28

1.20

Lowndes

0

0

0

0

1

1

5,801

0.21

0.92

Macon

0

0

0

0

1

1

10,627

0.12

0.50

Madison

0

27

0

0

25

52

2,313

0.54

2.32

Marshall

0

0

0

0

1

1

36,331

0.03

0.15

Mobile

5

11

0

0

2

18

9,172

0.14

0.58

Montgomery

0

29

0

0

4

33

2,892

0.43

1.85

Morgan

0

5

0

0

13

18

2,633

0.47

2.04

Pike

0

0

0

0

0

0

0.00

0.00

Randolph

0

0

0

0

1

1

10,285

0.12

0.52

Russell

0

1

0

0

2

3

7,610

0.16

0.70

Saint Clair

0

0

0

0

6

6

4,551

0.27

1.18

Shelby

0

15

0

0

1

16

3,706

0.34

1.45

Talladega

0

7

0

0

0

7

4,924

0.25

1.09

Tallapoosa

0

1

0

0

0

1

20,510

0.06

0.26

Tuscaloosa

0

2

0

0

1

3

23,716

0.05

0.23

Walker

0

2

0

0

1

3

10,806

0.12

0.50

Winston

0

0

0

0

1

1

12,502

0.10

0.43

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. 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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