LOUISIANA FORECLOSURES INCREASE 10 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Up 74 Percent From a Year Ago

 

IRVINE, Calif. – October 11, 2006 – Louisiana reported 347 properties entering some stage of the foreclosure process in September, a 10 percent increase in activity from the 317 properties reported in August, and a 74 percent increase from the 200 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 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 and Knight Ridder Online.

 

Louisiana foreclosures are the highest we’ve seen them all year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state has only recovered about 25 percent of all jobs lost due to last year’s storms. As rebuilding efforts will require more time, we may continue to see foreclosure numbers rise.”

 

Louisiana ranked 33rd in the nation for total foreclosures in September. The state’s foreclosure rate of one new foreclosure filing for every 5,427 households — 19 percent of the national average — ranks it 39th among the 50 states.

 

Top four parishes account for largest share of state total

Four parishes accounted for 78 percent of all foreclosures in Louisiana for the month of September. Leading the state in foreclosures for the month was East Baton Rouge Parish, reporting 115 properties entering some stage of the foreclosure process. Jefferson Parish had the second highest total, reporting 72 properties entering some stage of foreclosure, followed by Orleans Parish where 52 properties entered some stage of foreclosure. Caddo Parish came in fourth with 31 properties entering the foreclosure pipeline.

 

Highest foreclosure rate reported in East Baton Rouge Parish

East Baton Rouge Parish posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 1,470 households — 3.7 times the state average. Reporting one new foreclosure filing for every 2,610 households — 2.1 times the state average — Jefferson Parish had the second highest foreclosure rate in the state, followed by Richland Parish with one new foreclosure filing for every 2,778 households — two times the state average. Other significant foreclosure rates were in Caddo Parish with one new foreclosure filing for every 3,493 households — 1.6 times the state average — and Bossier Parish with one new foreclosure filing for every 4,476 households — 1.2 times the state average.

 

State accounts for little of national total

Louisiana’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).

 

                        Louisiana Foreclosure Market by Parish – September 2006

 

Parish 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

Louisiana

30

166

0

0

151

347

5,427

0.19

 

 

 

 

 

 

 

 

 

 

Acadia

0

0

0

0

0

0

0.00

0.00

Allen

1

1

0

0

0

2

4,579

0.23

1.19

Ascension

0

0

0

0

0

0

0.00

0.00

Avoyelles

1

0

0

0

0

1

16,576

0.06

0.33

Beauregard

0

0

0

0

0

0

0.00

0.00

Bienville

1

0

0

0

0

1

7,830

0.13

0.69

Bossier

1

4

0

0

4

9

4,476

0.23

1.21

Caddo

1

30

0

0

0

31

3,493

0.29

1.55

Calcasieu

0

2

0

0

0

2

37,998

0.03

0.14

De Soto

0

0

0

0

0

0

0.00

0.00

East Baton Rouge

1

6

0

0

108

115

1,470

0.70

3.69

East Feliciana

0

0

0

0

1

1

7,915

0.13

0.69

Franklin

0

1

0

0

0

1

8,623

0.12

0.63

Grant

0

0

0

0

0

0

0.00

0.00

Iberia

0

0

0

0

0

0

0.00

0.00

Iberville

0

0

0

0

0

0

0.00

0.00

Jackson

1

0

0

0

0

1

7,338

0.14

0.74

Jefferson

20

21

0

0

31

72

2,610

0.39

2.08

Jefferson Davis

0

1

0

0

0

1

12,824

0.08

0.42

Lafayette

0

7

0

0

0

7

11,160

0.09

0.49

Lafourche

0

2

0

0

0

2

17,523

0.06

0.31

Lincoln

0

1

0

0

0

1

17,000

0.06

0.32

Livingston

0

2

0

0

0

2

18,106

0.06

0.30

Morehouse

0

1

0

0

0

1

12,711

0.08

0.43

Orleans

0

51

0

0

1

52

4,829

0.21

1.12

Ouachita

1

8

0

0

0

9

6,684

0.15

0.81

Pointe Coupee

1

0

0

0

1

2

5,149

0.20

1.05

Rapides

0

5

0

0

0

5

10,408

0.10

0.52

Richland

0

3

0

0

0

3

2,778

0.37

1.95

Saint Bernard

0

0

0

0

0

0

0.00

0.00

Saint Charles

0

0

0

0

0

0

0.00

0.00

Saint Landry

0

0

0

0

0

0

0.00

0.00

Saint Martin

0

0

0

0

0

0

0.00

0.00

Saint Mary

0

2

0

0

0

2

10,825

0.10

0.50

Saint Tammany

1

11

0

0

2

14

5,386

0.19

1.01

St. John the Baptist

0

0

0

0

0

0

0.00

0.00

Tangipahoa

0

2

0

0

3

5

8,159

0.13

0.67

Terrebonne

0

4

0

0

0

4

9,982

0.10

0.54

Vermilion

0

0

0

0

0

0

0.00

0.00

Washington

0

0

0

0

0

0

0.00

0.00

Webster

0

1

0

0

0

1

18,991

0.05

0.29

West Feliciana

0

0

0

0

0

0

0.00

0.00

Winn

0

0

0

0

0

0

0.00

0.00

 

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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