ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT
Activity Up 260 Percent From a Year Ago
IRVINE, Calif. – Oct. 11, 2006 – Delaware reported 36 properties entering some stage of the foreclosure process in September, a 3 percent increase in activity from the 35 properties reported in August, and a 260 percent increase from the 10 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.
“Delaware foreclosures are up both in September and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Declining home sales and home price appreciation throughout the state may be contributing to this increase in activity.”
Delaware ranked in the bottom 10 nationally for foreclosures reported in September. The state’s foreclosure rate of one new foreclosure filing for every 9,530 households — way below the national average — placed it again among the 10 lowest states.
Kent County accounted for largest share of state total
Leading the state in foreclosures for the month was Kent County, reporting 28 properties entering some stage of the foreclosure process. New Castle County had the second highest total, reporting eight properties entering some stage of the foreclosure process.
Highest foreclosure rate reported in Kent County
Kent County also posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 1,803 households — 5.3 times the state average. Reporting one new foreclosure filing for every 24,940 households, New Castle County had the second highest foreclosure rate in the state.
State has minor impact on national total
Delaware’s foreclosure activity accounted for less than 1 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).
Delaware Foreclosure Market by County – September 2006
1 in every # households
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.
Atomic Public Relations