ARIZONA FORECLOSURES INCREASE 13 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Jumps 40 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 11, 2006 – Arizona reported 2,902 properties entering some stage of the foreclosure process, a 13 percent gain from the 2,573 properties reported in August, and a 40 percent increase above the 2,078 properties reported for the same month last year, according to the RealtyTrac™ September 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.

 

“Though Arizona continues to report robust job growth, the pace of that growth is decelerating along with activity in the housing market,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even with the job market slowing down, mortgage credit quality within the state is holding strong as prime and subprime mortgage delinquencies remain relatively steady.”

 

Arizona ranked 13th in the country in total foreclosures reported for September. The state’s foreclosure rate of one new foreclosure filing for every 754 households — 1.4 times the national average — ranks it 11th among the 50 states.

 

Maricopa County accounts for most of state’s foreclosure activity

Maricopa County had the largest share of Arizona’s foreclosure activity in September, reporting 2,064 properties entering some stage of the foreclosure process during the month. Pima County had the second highest total, reporting 350 properties entering some stage of foreclosure. Third highest was Pinal County, reporting 146 properties in foreclosure.

 

Highest foreclosure rate reported in Pinal County

Pinal County posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 556 households — 1.4 times the state average and 1.9 times the national average.  Reporting one new foreclosure filing for every 606 households — 1.3 times the state average and 1.7 times the national average — Maricopa County had the second highest foreclosure rate in the state.

 

Arizona accounts for little of national total

Arizona’s foreclosure activity accounted for 3 percent of the 112,210 properties entering some stage of foreclosure nationwide in September. The national total represents an almost 1 percent decrease in activity from the 113,300 foreclosures reported in August. The national foreclosure rate increased to one new foreclosure filing for every 1,030 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 – September 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

25,379

43,840

6,285

19,338

17,368

112,210

1,030

Arizona

0

0

2,493

306

103

2,902

754

1.37

 

 

 

 

 

 

 

 

 

 

Apache

0

0

0

0

1

1

31,621

0.03

0.02

Cochise

0

0

34

0

7

41

1,247

0.83

0.60

Coconino

0

0

19

0

0

19

2,813

0.37

0.27

Gila

0

0

27

0

2

29

972

1.06

0.78

Graham

0

0

5

0

0

5

2,286

0.45

0.33

Greenlee

0

0

2

0

0

2

1,872

0.55

0.40

La Paz

0

0

4

0

0

4

3,783

0.27

0.20

Maricopa

0

0

1,723

287

54

2,064

606

1.70

1.25

Mohave

0

0

71

1

7

79

1,013

1.02

0.74

Navajo

0

0

39

0

4

43

1,103

0.93

0.68

Pima

0

0

330

7

13

350

1,048

0.98

0.72

Pinal

0

0

138

1

7

146

556

1.85

1.36

Santa Cruz

0

0

1

0

0

1

13,036

0.08

0.06

Yavapai

0

0

73

0

7

80

1,022

1.01

0.74

Yuma

0

0

27

10

1

38

1,951

0.53

0.39

 

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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