HAWAII FORECLOSURES INCREASE 2 PERCENT IN APRIL

Foreclosures Decrease 37 Percent From a Year Ago

Honolulu County Posts State’s Highest Foreclosure Rate

 

IRVINE, Calif. – May 31, 2006 – Hawaii reported 46 properties entering some stage of foreclosure in April, a 2 percent increase from the previous month but down 37 percent from the 73 foreclosures reported in April 2005, according to RealtyTrac’s April 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“Despite the slight increase in Hawaii foreclosures in April, the state still holds one of the lowest foreclosure rates in the nation,” said James J. Saccacio, chief executive officer of RealtyTrac. “A booming tourism industry, strong job growth and rapid home value appreciation are keeping these rates low.”

 

With one foreclosure filing for every 10,012 households (13 percent of the national average), Hawaii‘s foreclosure rate ranked among the 12 lowest in the country. Overall, the state total accounted for 0.1 percent of the nation’s foreclosures with 40 states reporting more foreclosures filings for the month.

 

Reporting 12 properties entering some stage of foreclosure, Honolulu County accounted for the majority of the state’s foreclosure filings in April. The county’s foreclosure rate of one foreclosure filing for every 11,285 households was the highest in the state but was still lower than the state average.

 

Nationwide a total of 91,168 properties entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent year-over-year increase from April 2005. This marked the second straight month of decreasing U.S. foreclosure activity. At one foreclosure filing for every 1,268 households, the national foreclosure rate for April was higher than for any month in 2005.

 

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).

 

                    Hawaii Foreclosure Market By County — April 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

21,244

38,238

2,833

9,071

19,782

91,168

1,268

Hawaii

16

23

0

0

7

46

10,012

0.13

 

 

 

 

 

 

 

 

 

 

Hawaii

1

2

0

0

0

3

20891

0.06

0.48

Honolulu

13

15

0

0

0

28

11285

0.11

0.89

Kauai

1

3

0

0

3

7

3619

0.35

2.77

Maui

1

3

0

0

4

8

7047

0.18

1.42

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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