ALABAMA FORECLOSURES JUMP 24 PERCENT IN AUGUST

State’s Activity Four Times Higher Than a Year Ago

 

IRVINE, Calif. – August 31, 2006 – Alabama reported 382 properties entering some stage of the foreclosure process in August, a 24 percent spike in activity from the 307 properties reported in July, and soaring 423 percent above the 73 properties reported for the same month last year, according to the RealtyTrac™ August 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

 

A foreclosure moratorium imposed by the Department of Housing and Urban Development for homeowners affected by the hurricanes of last year ended Aug. 31,” said James J. Saccacio, chief executive officer of RealtyTrac.  This has definitely contributed to the sharp rise in foreclosures in Mobile County, Jefferson County and Alabama as a whole.”

 

Alabama ranked 32nd among the 50 states for foreclosure activity during August. The state’s foreclosure rate of one new foreclosure filing for every 5,140 households — almost 20 percent of the national average — ranks it 36th among the 50 states.

 

Jefferson, Mobile counties accounted for largest share of state total

Jefferson and Mobile counties accounted for 82 percent of all foreclosures in Alabama for August.  Jefferson County led the state, reporting 262 properties entering some stage of the foreclosure process. Mobile County had the second highest total, reporting 53 properties entering some stage of the foreclosure process.

 

Highest foreclosure rate reported in Jefferson County

Jefferson County also posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 1,100 households — 4.7 times the state average and 91 percent of the national average. Reporting one new foreclosure filing for every 2,696 households — 1.9 times the state average and 37 percent of the national average — Shelby County had the second highest foreclosure rate in the state. Completing the top five were Saint Clair County reporting one new foreclosure filing for every 2,730 households, Mobile County reporting one new foreclosure filing for every 3,115 households and Bibb County reporting one new foreclosure filing for every 4,173 households.

 

State activity is minor contributor to national total

Alabama‘s foreclosure activity accounted for less than 1 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 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 by County – August 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

United States

20,611

45,704

7,328

21,533

20,116

115,292

1,003

Alabama

3

241

0

0

138

382

5,140

0.20

 

 

 

 

 

 

 

 

 

 

Autauga

0

0

0

0

0

0

0.00

0.00

Baldwin

1

1

0

0

6

8

9,286

0.11

0.55

Barbour

0

0

0

0

0

0

0.00

0.00

Bibb

0

1

0

0

1

2

4,173

0.24

1.23

Blount

0

0

0

0

0

0

0.00

0.00

Calhoun

0

1

0

0

0

1

51,322

0.02

0.10

Chambers

0

1

0

0

1

2

8,128

0.12

0.63

Cherokee

0

0

0

0

0

0

0.00

0.00

Chilton

0

1

0

0

0

1

17,651

0.06

0.29

Choctaw

0

0

0

0

0

0

0.00

0.00

Cleburne

0

0

0

0

0

0

0.00

0.00

Coffee

0

0

0

0

0

0

0.00

0.00

Covington

0

0

0

0

0

0

0.00

0.00

Cullman

0

0

0

0

0

0

0.00

0.00

Dale

0

1

0

0

0

1

21,779

0.05

0.24

Dallas

0

2

0

0

0

2

10,225

0.10

0.50

De Kalb

0

0

0

0

0

0

0.00

0.00

Elmore

0

0

0

0

0

0

0.00

0.00

Etowah

0

0

0

0

0

0

0.00

0.00

Franklin

0

0

0

0

0

0

0.00

0.00

Geneva

0

0

0

0

0

0

0.00

0.00

Henry

0

0

0

0

0

0

0.00

0.00

Houston

0

0

0

0

0

0

0.00

0.00

Jackson

0

2

0

0

0

2

12,084

0.08

0.43

Jefferson

2

153

0

0

107

262

1,100

0.91

4.67

Lauderdale

0

1

0

0

0

1

40,424

0.02

0.13

Lawrence

0

0

0

0

0

0

0.00

0.00

Lee

0

1

0

0

0

1

50,329

0.02

0.10

Limestone

0

1

0

0

0

1

26,897

0.04

0.19

Lowndes

0

0

0

0

0

0

0.00

0.00

Macon

0

0

0

0

0

0

0.00

0.00

Madison

0

2

0

0

0

2

60,144

0.02

0.09

Marshall

0

1

0

0

0

1

36,331

0.03

0.14

Mobile

0

53

0

0

0

53

3,115

0.32

1.65

Monroe

0

1

0

0

0

1

11,343

0.09

0.45

Montgomery

0

4

0

0

1

5

19,087

0.05

0.27

Morgan

0

0

0

0

0

0

0.00

0.00

Pickens

0

1

0

0

0

1

9,520

0.11

0.54

Randolph

0

0

0

0

0

0

0.00

0.00

Russell

0

0

0

0

0

0

0.00

0.00

Saint Clair

0

0

0

0

10

10

2,730

0.37

1.88

Shelby

0

11

0

0

11

22

2,696

0.37

1.91

Talladega

0

0

0

0

0

0

0.00

0.00

Tuscaloosa

0

1

0

0

0

1

71,149

0.01

0.07

Walker

0

0

0

0

1

1

32,417

0.03

0.16

Winston

0

1

0

0

0

1

12,502

0.08

0.41

 

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

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved