HAWAII FORECLOSURES INCREASE 50 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 36 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 11, 2006 – Hawaii reported 63 properties entering some stage of the foreclosure process in September, a 50 percent increase in activity from the 42 properties reported in August, but a 36 percent decline from the 98 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.

 

“Although Hawaii foreclosures went up considerably in September, the numbers are still lower than they were this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac.  “Recent statistics show that the state’s employment growth ranks among the highest in the nation. This is likely helping to keep foreclosure numbers low.”

 

Hawaii ranked among the 10 lowest states for foreclosure activity during September. The state’s foreclosure rate of one new foreclosure filing for every 7,310 households — way below the national average — placed it again among the 10 lowest states.

 

Honolulu County accounted for largest share of state total

Leading the state in foreclosures for the month was Honolulu County, reporting 41 properties entering some stage of the foreclosure process.  Maui County had the second highest total, reporting 11 properties entering some stage of the foreclosure process.

 

Highest foreclosure rate reported in Kauai County

Kauai County posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 5,066 households — 1.4 times the state average. Reporting one new foreclosure filing for every 5,125 households — 1.4 times the state average, Maui County had the second highest foreclosure rate in the state.

 

State has minor impact on national total

Hawaii’s foreclosure activity accounted for 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).

 

  

                       Hawaii Foreclosure Market by County – September 2006

 

County 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

Hawaii

18

43

0

0

2

63

7,310

0.14

 

 

 

 

 

 

 

 

 

 

Hawaii

1

5

0

0

0

6

10,446

0.10

0.70

Honolulu

12

29

0

0

0

41

7,707

0.13

0.95

Kauai

2

2

0

0

1

5

5,066

0.20

1.44

Maui

3

7

0

0

1

11

5,125

0.20

1.43

 

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.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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