MISSISSIPPI FORECLOSURES DOWN 8 PERCENT IN AUGUST

State’s Activity Up 95 Percent From a Year Ago

 

IRVINE, Calif. – August 31, 2006 – Mississippi reported 80 properties entering some stage of the foreclosure process in August, an 8 percent drop in activity from the 87 properties reported in July, but a 95 percent spike above the 41 properties reported for the same month last year, according to the RealtyTrac™ August 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 Mississippi foreclosures declined slightly in August, the numbers have almost doubled from this time last year,” said James J. Saccacio, chief executive officer or RealtyTrac. “Even so, the state continues to have one of the lowest foreclosure rates in the nation.”

 

Mississippi ranked 40th in the country for total foreclosures reported in August. The state’s foreclosure rate of one new foreclosure filing for every 15,860 households — 6 percent of the national average — ranks it 45th among the 50 states.

 

Top two counties account for largest share of state total

Total activity for both De Soto and Hinds counties accounted for 75 percent of all foreclosures in Mississippi for August. De Soto County led the state, reporting 44 properties entering some stage of the foreclosure process. Hinds County had the second highest total, reporting 16 properties entering some stage of the foreclosure process.

 

Highest foreclosure rate reported in De Soto County

De Soto County also posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 927 households — 17 times the state average and 1.1 times the national average. Reporting one new foreclosure filing for every 3,705 households — 4.3 times the state average — Tunica County had the second highest foreclosure rate in the state, followed by Noxubee County with one new foreclosure filing for every 5,228 households — 3 times the state average.

 

State foreclosures have minor impact on national total

Mississippi‘s foreclosure activity accounted for less than 1 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 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 – August 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,611

45,704

7,328

21,533

20,116

115,292

1,003

Mississippi

2

35

0

0

43

80

15,860

0.06

 

 

 

 

 

 

 

 

 

 

Alcorn

0

0

0

0

0

0

0.00

0.00

Bolivar

0

0

0

0

0

0

0.00

0.00

Claiborne

0

0

0

0

0

0

0.00

0.00

Copiah

0

1

0

0

0

1

11,101

0.09

1.43

De Soto

0

2

0

0

42

44

927

1.08

17.11

Forrest

0

2

0

0

0

2

14,957

0.07

1.06

Grenada

0

1

0

0

0

1

9,973

0.10

1.59

Hancock

0

1

0

0

0

1

21,072

0.05

0.75

Harrison

1

1

0

0

0

2

39,818

0.03

0.40

Hinds

0

16

0

0

0

16

6,268

0.16

2.53

Jackson

0

0

0

0

0

0

0.00

0.00

Jasper

0

1

0

0

0

1

7,671

0.13

2.07

Lamar

0

0

0

0

0

0

0.00

0.00

Lauderdale

0

1

0

0

0

1

33,418

0.03

0.47

Lee

0

0

0

0

0

0

0.00

0.00

Lincoln

0

0

0

0

1

1

14,052

0.07

1.13

Lowndes

0

0

0

0

0

0

0.00

0.00

Madison

0

1

0

0

0

1

28,781

0.03

0.55

Marion

0

0

0

0

0

0

0.00

0.00

Marshall

0

0

0

0

0

0

0.00

0.00

Noxubee

0

1

0

0

0

1

5,228

0.19

3.03

Pearl River

0

0

0

0

0

0

0.00

0.00

Pike

0

0

0

0

0

0

0.00

0.00

Prentiss

0

0

0

0

0

0

0.00

0.00

Rankin

0

1

0

0

0

1

45,070

0.02

0.35

Simpson

0

0

0

0

0

0

0.00

0.00

Stone

0

1

0

0

0

1

5,343

0.19

2.97

Sunflower

0

1

0

0

0

1

10,338

0.10

1.53

Tishomingo

1

0

0

0

0

1

9,553

0.10

1.66

Tunica

0

1

0

0

0

1

3,705

0.27

4.28

Walthall

0

0

0

0

0

0

0.00

0.00

Warren

0

3

0

0

0

3

6,930

0.14

2.29

Washington

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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