MISSISSIPPI FORECLOSURES DECREASE 1 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 15 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 11, 2006 – Mississippi reported 79 properties entering some stage of the foreclosure process in September, a 1 percent decrease in activity from the 80 properties reported in August, and a 15 percent decrease from the 93 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.

 

“In September Mississippi reported its lowest number of foreclosures for the third quarter,” said James J. Saccacio, chief executive officer of RealtyTrac. “Post Katrina rebuilding efforts, and the reopening of several casinos that were destroyed during last year’s storms has added many new jobs within the state. This is likely helping to drive down foreclosures.”

 

Mississippi ranked among the 10 lowest states for foreclosure activity during September. The state’s foreclosure rate of one new foreclosure filing for every 16,061 households — 6 percent of the national average — ranks it among the 10 lowest in the country.

 

Top two counties account for largest share of state total

Two counties accounted for 73 percent of all foreclosures in the state of Mississippi for September. Leading the state in foreclosures for the month was De Soto County, reporting 30 properties entering some stage of the foreclosure process. Hinds County had the second highest total, reporting 28 properties entering some stage of the foreclosure process.

 

Highest foreclosure rate reported in De Soto County

De Soto County posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 1,360 households — 11.9 times the state average. Reporting one new foreclosure filing for every 3,582 households — 4.5 times the state average — Hinds County had the second highest foreclosure rate in the state, followed by Sunflower County with one new foreclosure filing for every 5,169 households — 3.1 times the state average. 

 

State accounts for little of national total

Mississippi’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).

 

                      Mississippi 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

1,003

Mississippi

4

46

0

0

29

79

16,061

0.06

 

 

 

 

 

 

 

 

 

 

Alcorn

0

0

0

0

0

0

0.00

0.00

Amite

0

0

0

0

0

0

0.00

0.00

Copiah

0

1

0

0

0

1

11,101

0.09

1.45

De Soto

2

2

0

0

26

30

1,360

0.76

11.81

Forrest

0

0

0

0

0

0

0.00

0.00

George

0

1

0

0

0

1

7,513

0.14

2.14

Hancock

0

1

0

0

0

1

21,072

0.05

0.76

Harrison

0

0

0

0

0

0

0.00

0.00

Hinds

0

28

0

0

0

28

3,582

0.29

4.48

Holmes

0

0

0

0

0

0

0.00

0.00

Jackson

0

0

0

0

0

0

0.00

0.00

Lauderdale

0

4

0

0

0

4

8,355

0.12

1.92

Leflore

1

1

0

0

0

2

7,049

0.15

2.28

Lowndes

0

0

0

0

0

0

0.00

0.00

Madison

0

1

0

0

0

1

28,781

0.04

0.56

Marshall

0

1

0

0

0

1

13,252

0.08

1.21

Oktibbeha

0

1

0

0

0

1

17,344

0.06

0.93

Pearl River

1

1

0

0

0

2

10,305

0.10

1.56

Rankin

0

0

0

0

0

0

0.00

0.00

Stone

0

1

0

0

0

1

5,343

0.19

3.01

Sunflower

0

2

0

0

0

2

5,169

0.20

3.11

Tate

0

0

0

0

1

1

93,354

0.01

0.17

Tishomingo

0

0

0

0

1

1

9,553

0.11

1.68

Union

0

0

0

0

1

1

10,693

0.10

1.50

Walthall

0

0

0

0

0

0

0.00

0.00

Yazoo

0

1

0

0

0

1

10,015

0.10

1.60

 

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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