ARKANSAS FORECLOSURES DECREASE 15 PERCENT IN NOVEMBER

Foreclosure Activity Up 44 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Arkansas reported 814 properties entering some stage of the foreclosure process in November, a 15 percent decrease from the 952 properties reported in October, but a 44 percent gain from the 567 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 more than 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.

 

Arkansas’ economic expansion appears to be slowing, as is job growth within the state,” said James J. Saccacio, chief executive officer of RealtyTrac. “This deceleration and possibly the rise in foreclosure activity compared to last year can be attributed to mounting job losses in the manufacturing sector and sluggish growth in the trade, transportation and utilities sectors.”

 

Arkansas ranked 23rd in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 1,441 households — about two-thirds of the national average — places it 18th among the 50 states.

 

Pulaski County leads state in activity

Pulaski County led the state in total new foreclosure filings, reporting 183 properties entering some stage of the foreclosure process during the month. Benton County registered the second highest total, with 101 properties in some stage of the foreclosure process for the month, followed by Sebastian and Washington counties, each reporting the 74 properties entering some stage of the foreclosure process.

 

Benton County posts state’s top foreclosure rate

Benton County posted the top foreclosure rate in the state for November, one new foreclosure filing for every 636 households — 2.3 times the state average and 1.5 times the national average. Next highest was Sebastian County, reporting one new foreclosure filing for every 666 households — 2.2 times the state average and 1.4 times the national average. The third highest rate in the state was found in Lonoke County, which reported one new foreclosure filing for every 669 households — 2.2 times the state average and 1.4 times the national average.

 

State total has little impact on national total

Arkansas accounted for less than 1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

                            Arkansas 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

Arkansas

15

749

0

0

50

814

1,441

0.67

n/a

 

 

 

 

 

 

 

 

 

 

Arkansas

0

3

0

0

0

3

3,224

0.29

0.44

Ashley

0

1

0

0

0

1

10,615

0.09

0.13

Baxter

0

1

0

0

0

1

19,891

0.04

0.07

Benton

0

94

0

0

7

101

636

1.51

2.26

Boone

0

6

0

0

2

8

1,928

0.49

0.74

Calhoun

0

0

0

0

0

0

n/a

0.00

0.00

Carroll

0

0

0

0

0

0

n/a

0.00

0.00

Chicot

0

1

0

0

0

1

5,974

0.16

0.24

Clark

0

0

0

0

0

0

n/a

0.00

0.00

Clay

0

5

0

0

0

5

1,700

0.56

0.84

Cleburne

0

4

0

0

0

4

3,433

0.28

0.42

Columbia

0

4

0

0

0

4

2,892

0.33

0.49

Conway

0

3

0

0

0

3

3,009

0.31

0.47

Craighead

0

22

0

0

2

24

1,464

0.65

0.98

Crawford

1

19

0

0

4

24

888

1.08

1.62

Crittenden

0

14

0

0

0

14

1,465

0.65

0.98

Cross

0

2

0

0

0

2

4,015

0.23

0.35

Desha

0

4

0

0

0

4

1,666

0.57

0.86

Drew

0

3

0

0

0

3

2,762

0.34

0.52

Faulkner

0

30

0

0

3

33

1,047

0.91

1.37

Franklin

0

1

0

0

0

1

7,673

0.12

0.18

Garland

0

23

0

0

1

24

1,873

0.51

0.76

Grant

0

3

0

0

0

3

2,320

0.41

0.62

Greene

0

15

0

0

0

15

1,077

0.89

1.33

Hempstead

0

4

0

0

0

4

2,542

0.37

0.56

Hot Spring

0

5

0

0

0

5

2,677

0.35

0.53

Howard

0

1

0

0

0

1

6,297

0.15

0.22

Independence

0

3

0

0

0

3

4,947

0.19

0.29

Jackson

0

2

0

0

0

2

3,978

0.24

0.36

Jefferson

0

15

0

0

0

15

2,290

0.42

0.62

Johnson

0

4

0

0

0

4

2,482

0.38

0.58

Lawrence

0

4

0

0

0

4

2,021

0.47

0.71

Little River

0

1

0

0

0

1

6,435

0.14

0.22

Logan

0

2

0

0

0

2

4,971

0.19

0.29

Lonoke

6

25

0

0

0

31

669

1.43

2.15

Madison

0

4

0

0

0

4

1,634

0.58

0.88

Miller

0

3

0

0

0

3

5,909

0.16

0.24

Mississippi

0

17

0

0

0

17

1,312

0.73

1.09

Monroe

0

2

0

0

0

2

2,534

0.37

0.56

Ouachita

0

2

0

0

0

2

6,725

0.14

0.21

Perry

0

1

0

0

0

1

4,702

0.20

0.30

Phillips

0

1

0

0

0

1

10,859

0.08

0.13

Pike

0

0

0

0

0

0

n/a

0.00

0.00

Poinsett

0

3

0

0

0

3

3,684

0.26

0.39

Polk

0

1

0

0

0

1

9,236

0.10

0.15

Pope

0

14

0

0

0

14

1,632

0.58

0.88

Pulaski

4

167

0

0

12

183

881

1.09

1.63

Randolph

0

2

0

0

0

2

4,134

0.23

0.34

Saint Francis

0

6

0

0

0

6

1,874

0.51

0.76

Saline

1

40

0

0

4

45

752

1.27

1.91

Sebastian

3

67

0

0

4

74

666

1.44

2.16

Sevier

0

2

0

0

0

2

3,217

0.29

0.44

Union

0

5

0

0

0

5

4,135

0.23

0.34

Van Buren

0

1

0

0

0

1

9,164

0.10

0.15

Washington

0

64

0

0

10

74

869

1.10

1.65

White

0

19

0

0

1

20

1,381

0.69

1.04

Yell

0

4

0

0

0

4

2,289

0.42

0.63

 

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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