ARIZONA FORECLOSURES INCREASE 10 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Jumps 46 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Arizona reported 3,042 properties entering some stage of the foreclosure process in November, a 10 percent increase from the 2,764 properties reported in October, and a 46 percent increase above the 2,083 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 nearly 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 Arizona’s home price appreciation continues to outperform the national average, the state’s foreclosure rate is rising as increased inventory makes it tougher for homeowners facing foreclosure to sell their ways out of the situation,” said James J. Saccacio, chief executive officer of RealtyTrac.  

 

Arizona ranked 14th in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 720 households ranked 11th among the 50 states.

 

Maricopa County accounts for most of state’s foreclosure activity

Maricopa County reported the largest share of Arizona’s foreclosure activity in November, with 2,008 properties entering some stage of the foreclosure process during the month. Pima County reported the second highest total, with 407 properties entering some stage of foreclosure. Third highest was Pinal County, which reported 255 properties entering foreclosure.

 

Highest foreclosure rate reported in Pinal County

Pinal County posted the state’s highest foreclosure rate in November, with one new foreclosure filing for every 318 households — 2.3 times the state average and three times the national average. Reporting one new foreclosure filing for every 623 households — 1.2 times the state average and 1.5 times the national average — Maricopa County documented the second highest foreclosure rate in the state.

 

Arizona accounts for 2.5 percent of national total

Arizona’s foreclosure activity accounted for 2.5 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents an almost 4 percent increase in activity from the 115,568 foreclosures reported in October. The national foreclosure rate increased to one new foreclosure filing for every 961 households for 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.

 

     Arizona Foreclosure Market by County – November 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Arizona

0

1

2,894

15

132

3,042

720

1.33

n/a

 

 

 

 

 

 

 

 

 

 

Apache

0

0

0

0

0

0

n/a 

0.00

0.00

Cochise

0

0

31

0

4

35

1,461

0.65

0.49

Coconino

0

0

28

0

1

29

1,843

0.52

0.39

Gila

0

0

9

0

2

11

2,563

0.37

0.28

Graham

0

0

14

0

0

14

816

1.17

0.88

Greenlee

0

0

2

0

0

2

1,872

0.51

0.38

La Paz

0

0

2

0

1

3

5,044

0.19

0.14

Maricopa

0

1

1,923

10

74

2,008

623

1.54

1.15

Mohave

0

0

84

2

14

100

801

1.20

0.89

Navajo

0

0

23

0

2

25

1,897

0.50

0.37

Pima

0

0

382

3

22

407

901

1.06

0.79

Pinal

0

0

253

0

2

255

318

3.01

2.26

Santa Cruz

0

0

7

0

0

7

1,862

0.51

0.38

Yavapai

0

0

91

0

7

98

834

1.15

0.86

Yuma

0

0

45

0

3

48

1,545

0.62

0.46

 

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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