LOUISIANA FORECLOSURES INCREASE 26 PERCENT IN NOVEMBER

State’s Activity Level Up 228 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Louisiana reported 472 properties entering some stage of the foreclosure process in November, a 26 percent increase from the 374 properties reported in October, and a 228 percent gain from the 144 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.

 

“Though economic recovery remains slow in New Orleans, other metropolitan areas in Louisiana appear to be thriving economically,” said James J. Saccacio, chief executive officer of RealtyTrac. “Still, Louisiana’s foreclosure rate continues to rise, particularly as compared to this time last year.”

 

Louisiana ranked 32nd in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 3,990 households — 0.24 times the national average — places it 37th among the 50 states.

 

East Baton Rouge and Jefferson parishes lead state in activity

Two parishes accounted for 54 percent of all foreclosure activity in Louisiana for November. East Baton Rouge Parish led the state reporting 142 properties entering some stage of the foreclosure process during the month. Jefferson Parish registered the second highest total, reporting 114 properties in some stage of the foreclosure process for the month, followed by Orleans Parish reporting the third highest total with 92 properties entering some stage of the foreclosure process.

 

East Baton Rouge Parish posts state’s top foreclosure rate

East Baton Rouge Parish posted the top foreclosure rate in the state for November, reporting one new foreclosure filing for every 1,191 households — 3.4 times the state average and 0.8 times the national average. Next highest was Jefferson Parish reporting one new foreclosure filing for every 1,648 households — 2.4 times the state average and 0.6 times the national average. The third highest rate in the state was found in Orleans Parish, which reported one new foreclosure filing for every 2,729 households — 1.5 times the state average and 0.4 times the national average.

 

State total has little impact on national total

Louisiana’s foreclosure activity 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.

 

                       Louisiana Foreclosure Market by Parish – November 2006

 

Parish 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

Louisiana

16

247

0

0

209

472

3,990

0.24

n/a

 

 

 

 

 

 

 

 

 

 

Acadia

0

1

0

0

0

1

23,209

0.04

0.17

Allen

0

0

0

0

0

0

n/a

0.00

0.00

Ascension

0

3

0

0

0

3

9,724

0.09

0.41

Avoyelles

0

1

0

0

0

1

16,576

0.05

0.24

Beauregard

0

0

0

0

0

0

n/a

0.00

0.00

Bienville

0

1

0

0

0

1

7,830

0.12

0.51

Bossier

1

2

0

0

2

5

8,057

0.11

0.49

Caddo

1

22

0

0

0

23

4,709

0.20

0.84

Calcasieu

0

1

0

0

0

1

75,995

0.01

0.05

Catahoula

0

1

0

0

0

1

5,351

0.18

0.74

De Soto

1

0

0

0

0

1

11,204

0.08

0.35

East Baton Rouge

3

9

0

0

130

142

1,191

0.80

3.35

Grant

0

0

0

0

0

0

n/a

0.00

0.00

Iberia

1

0

0

0

0

1

27,844

0.03

0.14

Iberville

0

0

0

0

0

0

n/a

0.00

0.00

Jefferson

3

47

0

0

64

114

1,648

0.58

2.42

Jefferson Davis

0

1

0

0

0

1

12,824

0.07

0.31

Lafayette

0

17

0

0

0

17

4,595

0.20

0.86

Livingston

0

0

0

0

0

0

n/a

0.00

0.00

Morehouse

0

2

0

0

0

2

6,356

0.15

0.62

Orleans

0

91

0

0

1

92

2,729

0.35

1.46

Ouachita

0

13

0

0

0

13

4,627

0.20

0.86

Pointe Coupee

0

1

0

0

0

1

10,297

0.09

0.38

Rapides

5

4

0

0

0

9

5,782

0.16

0.69

Sabine

0

0

0

0

0

0

n/a

0.00

0.00

Saint Bernard

0

0

0

0

0

0

n/a

0.00

0.00

Saint Charles

0

3

0

0

0

3

5,810

0.16

0.68

Saint Helena

0

0

0

0

0

0

n/a

0.00

0.00

Saint Landry

0

1

0

0

0

1

36,216

0.02

0.11

Saint Martin

0

0

0

0

0

0

n/a

0.00

0.00

Saint Tammany

0

21

0

0

2

23

3,278

0.29

1.21

St John the Baptist

0

0

0

0

0

0

n/a

0.00

0.00

Tangipahoa

1

3

0

0

10

14

2,914

0.33

1.36

Union

0

1

0

0

0

1

10,873

0.08

0.36

Vermilion

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Webster

0

1

0

0

0

1

18,991

0.05

0.21

West Baton Rouge

0

0

0

0

0

0

n/a

0.00

0.00

West Feliciana

0

0

0

0

0

0

n/a

0.00

0.00

Winn

0

0

0

0

0

0

n/a

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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