ALABAMA FORECLOSURES INCREASE 48 PERCENT IN APRIL

Foreclosures Decrease 36 Percent From a Year Ago

 Jefferson County Posts State’s Highest Foreclosure Rate

 

IRVINE, Calif. – May 31, 2006 – Alabama reported 261 properties entering some stage of foreclosure in April, a 48 percent increase from the previous month and a 36 percent decrease from the number reported a year ago, according to the April 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 foreclosures increased by almost half in April, it still has one of the lower foreclosure rates in the nation,” said James J. Saccacio, chief executive officer of RealtyTrac.  “This is partially due to the HUD-imposed foreclosure moratorium in counties affected by hurricane Katrina.”

 

With one foreclosure filing for every 7,523 households (way below the national average), Alabama‘s foreclosure rate ranked among the 15 lowest states in the country. In all, 32 states reported more foreclosure activity than Alabama during the month.

 

With 184 properties entering some stage of foreclosure in April, Jefferson County accounted for the majority of foreclosure filings in Alabama. The county’s foreclosure rate of one foreclosure filing for every 1,566 households was the highest in the state (4.8 times the state average).

 

Nationwide a total of 91,168 properties entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent year-over-year increase from April 2005. This marked the second straight month of decreasing U.S. foreclosure activity. At one foreclosure filing for every 1,268 households, the national foreclosure rate for April was higher than for any month in 2005.

 

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 By County — April 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

US

21,244

38,238

2,833

9,071

19,782

91,168

1,268

Alabama

0

61

0

0

200

261

7,523

0.17

 

 

 

 

 

 

 

 

 

 

Autauga

0

1

0

0

0

1

17,662

0.07

0.43

Baldwin

0

3

0

0

4

7

10,612

0.12

0.71

Barbour

0

0

0

0

0

0

 

0.00

0.00

Blount

0

0

0

0

1

1

21,158

0.06

0.36

Calhoun

0

1

0

0

1

2

25,661

0.05

0.29

Chambers

0

0

0

0

1

1

16,256

0.08

0.46

Cherokee

0

1

0

0

0

1

14,025

0.09

0.54

Chilton

0

0

0

0

0

0

 

0.00

0.00

Choctaw

0

1

0

0

0

1

7,839

0.16

0.96

Coffee

0

1

0

0

0

1

19,837

0.06

0.38

Colbert

0

1

0

0

0

1

24,980

0.05

0.30

Conecuh

0

1

0

0

0

1

7,265

0.17

1.04

Covington

0

1

0

0

1

2

9,289

0.14

0.81

Cullman

0

1

0

0

0

1

35,233

0.04

0.21

Dale

0

0

0

0

0

0

 

0.00

0.00

Dallas

0

1

0

0

1

2

10,225

0.12

0.74

De Kalb

0

0

0

0

2

2

14,026

0.09

0.54

Elmore

0

1

0

0

1

2

12,867

0.10

0.58

Etowah

0

3

0

0

0

3

15,320

0.08

0.49

Houston

0

0

0

0

2

2

19,786

0.06

0.38

Jackson

0

0

0

0

2

2

12,084

0.10

0.62

Jefferson

0

23

0

0

161

184

1,566

0.81

4.80

Lauderdale

0

1

0

0

1

2

20,212

0.06

0.37

Lee

0

1

0

0

0

1

50,329

0.03

0.15

Limestone

0

1

0

0

1

2

13,449

0.09

0.56

Madison

0

4

0

0

2

6

20,048

0.06

0.38

Marshall

0

1

0

0

1

2

18,166

0.07

0.41

Mobile

0

6

0

0

0

6

27,517

0.05

0.27

Montgomery

0

4

0

0

6

10

9,544

0.13

0.79

Morgan

0

2

0

0

1

3

15,796

0.08

0.48

Pike

0

0

0

0

1

1

13,981

0.09

0.54

Randolph

0

0

0

0

0

0

 

0.00

0.00

Saint Clair

0

0

0

0

3

3

9,101

0.14

0.83

Shelby

0

0

0

0

2

2

29,651

0.04

0.25

Talladega

0

0

0

0

0

0

 

0.00

0.00

Tallapoosa

0

0

0

0

1

1

20,510

0.06

0.37

Tuscaloosa

0

0

0

0

3

3

23,716

0.05

0.32

Walker

0

0

0

0

1

1

32,417

0.04

0.23

Winston

0

1

0

0

0

1

12,502

0.10

0.60

 

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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