MISSISSIPPI FORECLOSURES INCREASE 56 PERCENT IN OCTOBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Total Down 26 Percent From a Year Ago

 

IRVINE, Calif. – Nov. 10, 2006 – Mississippi reported 123 properties entering some stage of the foreclosure process in October, a 56 percent increase from the 79 properties reported in September, and a 26 percent drop from the 167 properties reported for the same month last year, according to the RealtyTrac™ October 2006 U.S. Foreclosure Market Report. The state had the 44th highest foreclosure rate in the nation for the month — reporting one new foreclosure filing for every 10,316 households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 700,000 properties from nearly 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.

 

Mississippi’s labor market continues to struggle post Hurricane Katrina,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, the state has been reporting an improvement in credit quality as it slowly recovers from the effects of the disaster.”

 

Hinds and De Soto Counties lead state in activity

Two counties accounted for 78 percent of all foreclosure activity in Mississippi for October. Hinds County led the state reporting 56 properties entering some stage of the foreclosure process during the month. De Soto County registered the second highest total, reporting 40 properties in some stage of the foreclosure process for the month.

 

De Soto County posts state’s top foreclosure rate

De Soto County posted the top foreclosure rate in the state for October, reporting one new foreclosure filing for every 1,020 households — 10.1 times the state average and 1.0 times the national average. Next highest was Hinds County reporting one new foreclosure filing for every 1,791 households — 5.8 times the state average and 0.6 times the national average. The third highest rate in the state was found in Benton County, which reported one new foreclosure filing for every 3,456 households — 3.0 times the state average and 0.3 times the national average.

 

State total has little impact on national total

Mississippi’s foreclosure activity accounted for less than 1 percent of the 115,568 properties entering some stage of foreclosure nationwide in October. The national total represents a 3 percent increase from the 112,210 foreclosures reported in September. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,001 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 – October 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,731

42,375

5,799

18,895

20,768

115,568

1,001

n/a

n/a

Mississippi

1

81

0

0

41

123

10,316

0.09

n/a

 

 

 

 

 

 

 

 

 

 

Adams

0

1

0

0

0

1

15,175

0.07

0.68

Amite

0

0

0

0

0

0

n/a

0.00

0.00

Attala

0

1

0

0

0

1

8,639

0.12

1.19

Benton

0

1

0

0

0

1

3,456

0.29

2.98

Bolivar

0

0

0

0

0

0

n/a

0.00

0.00

Calhoun

0

1

0

0

0

1

6,902

0.14

1.49

Clay

0

1

0

0

0

1

8,810

0.11

1.17

Coahoma

0

1

0

0

0

1

11,490

0.09

0.90

Copiah

0

0

0

0

0

0

n/a

0.00

0.00

De Soto

0

0

0

0

40

40

1,020

0.98

10.11

Forrest

0

0

0

0

0

0

n/a

0.00

0.00

Hancock

0

2

0

0

0

2

10,536

0.09

0.98

Harrison

0

0

0

0

0

0

n/a

0.00

0.00

Hinds

0

56

0

0

0

56

1,791

0.56

5.76

Holmes

0

0

0

0

0

0

n/a

0.00

0.00

Itawamba

0

1

0

0

0

1

9,804

0.10

1.05

Jackson

0

0

0

0

0

0

n/a

0.00

0.00

Lamar

0

0

0

0

0

0

n/a

0.00

0.00

Lauderdale

0

3

0

0

0

3

11,139

0.09

0.93

Lawrence

0

0

0

0

0

0

n/a

0.00

0.00

Lee

1

0

0

0

0

1

31,877

0.03

0.32

Lincoln

0

0

0

0

1

1

14,052

0.07

0.73

Lowndes

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

3

0

0

0

3

9,594

0.10

1.08

Marion

0

0

0

0

0

0

n/a

0.00

0.00

Marshall

0

1

0

0

0

1

13,252

0.08

0.78

Neshoba

0

0

0

0

0

0

n/a

0.00

0.00

Oktibbeha

0

0

0

0

0

0

n/a

0.00

0.00

Panola

0

1

0

0

0

1

13,736

0.07

0.75

Pearl River

0

0

0

0

0

0

n/a

0.00

0.00

Pike

0

0

0

0

0

0

n/a

0.00

0.00

Pontotoc

0

0

0

0

0

0

n/a

0.00

0.00

Prentiss

0

0

0

0

0

0

n/a

0.00

0.00

Rankin

0

1

0

0

0

1

45,070

0.02

0.23

Simpson

0

0

0

0

0

0

n/a

0.00

0.00

Stone

0

1

0

0

0

1

5,343

0.19

1.93

Sunflower

0

1

0

0

0

1

10,338

0.10

1.00

Tate

0

1

0

0

0

1

93,354

0.01

0.11

Tippah

0

0

0

0

0

0

n/a

0.00

0.00

Tishomingo

0

0

0

0

0

0

n/a

0.00

0.00

Tunica

0

1

0

0

0

1

3,705

0.27

2.78

Walthall

0

0

0

0

0

0

n/a

0.00

0.00

Warren

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

1

0

0

0

1

24,831

0.04

0.42

Webster

0

0

0

0

0

0

n/a

0.00

0.00

Wilkinson

0

0

0

0

0

0

n/a

0.00

0.00

Winston

0

1

0

0

0

1

8,472

0.12

1.22

Yazoo

0

1

0

0

0

1

10,015

0.10

1.03

 

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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