ARIZONA FORECLOSURES DECREASE 5 PERCENT IN OCTOBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Up 43 Percent From a Year Ago

 

IRVINE, Calif. – Nov. 10, 2006 – Arizona reported 2,764 properties entering some stage of the foreclosure process in October, a 5 percent decrease from the 2,902 properties reported in September, but still 43 percent above the 1,935 properties reported for the same month last year, according to the RealtyTrac™ October 2006 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.

 

“After reaching a peak in September, Arizona foreclosures decreased slightly in October,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, the numbers are still up significantly from this time last year. A considerably slower housing market is very likely contributing to the rise.”

 

Arizona ranked 13th in the country in total foreclosures reported for October. The state’s foreclosure rate of one new foreclosure filing for every 792 households — 1.3 times the national average — places it 13th among the 50 states.

 

Maricopa County leads state in activity

Leading the state in foreclosure activity for the month was Maricopa County, reporting 2,002 properties entering some stage of the foreclosure process. Pima County had the second highest total, reporting 384 properties in some of the foreclosure process for the month, followed by Pinal County with 137 properties entering some stage of the foreclosure process. 

 

Pinal County posts state’s top foreclosure rate

Pinal County posted the top foreclosure rate in the state for October, reporting one new foreclosure filing for every 592 households — 1.3 times the state average and 1.7 times the national average. Maricopa County reported the second highest foreclosure rate with one new foreclosure filing for every 624 households — 1.3 times the state average and 1.6 times the national average — followed by Greenlee County with one new foreclosure filing for every 749 households — 1.1 times the state average and 1.3 times the national average.

 

State activity contributes to national total

Arizona’s foreclosure activity accounted for more than 2 percent of the 115,568 properties entering some stage of foreclosure nationwide in October. The national total represents a 3 percent increase from the 112,210 foreclosures reported in September. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,001 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).

  

                      Arizona Foreclosure Market by County – October 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,731

42,375

5,799

18,895

20,768

115,568

1,001

n/a

n/a

Arizona

0

0

2,627

44

93

2,764

792

1.26

n/a

 

 

 

 

 

 

 

 

 

 

Apache

0

0

0

0

0

0

n/a 

0.00

0.00

Cochise

0

0

14

0

2

16

3,195

0.31

0.25

Coconino

0

0

17

1

1

19

2,813

0.36

0.28

Gila

0

0

19

0

3

22

1,281

0.78

0.62

Graham

0

0

5

0

0

5

2,286

0.44

0.35

Greenlee

0

0

5

0

0

5

749

1.34

1.06

La Paz

0

0

4

0

0

4

3,783

0.26

0.21

Maricopa

0

0

1,928

33

41

2,002

624

1.60

1.27

Mohave

0

0

52

4

9

65

1,232

0.81

0.64

Navajo

0

0

28

0

2

30

1,580

0.63

0.50

Pima

0

0

362

2

20

384

955

1.05

0.83

Pinal

0

0

124

3

10

137

592

1.69

1.34

Santa Cruz

0

0

7

0

0

7

1,862

0.54

0.43

Yavapai

0

0

43

1

3

47

1,739

0.58

0.46

Yuma

0

0

19

0

2

21

3,530

0.28

0.22

 

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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