MONTANA FORECLOSURES DOWN 39 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level 15 Percent Below a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Montana reported 89 properties entering some stage of the foreclosure process in November, a 39 percent decline from the 146 properties reported in October, and down 15 percent from the 105 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 over 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.

 

Montana foreclosures have decreased both in November and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show the state’s job growth rate is well above that of the national average and still accelerating. This is likely contributing to the overall drop in foreclosures.”

 

Montana ranked 41st in the county in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 4,630 households ranked 38th among the 50 states.

 

Yellowstone County leads state in foreclosure activity

Yellowstone County had the largest share of Montana’s foreclosure activity in November, reporting 24 properties entering some stage of the foreclosure process during the month. Flathead County reported the second highest total with 16 properties entering some stage of the foreclosure. Third highest was Cascade County reporting 15 properties entering the foreclosure pipeline. 

 

Flathead County posts state’s top foreclosure rate

Flathead County posted the state’s highest foreclosure rate in November, with one new foreclosure filing for every 2,173 households — 2.1 times the state average. Yellowstone County reported the second highest foreclosure rate with one new foreclosure filing for every 2,273 households — twice the state average. Cascade County documented the third highest foreclosure rate in the state with one new foreclosure filing for every 2,348 households — also twice the state average.

 

State makes minor contribution to national total

Montana’s foreclosure activity accounted for 0.1 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.

 

                  Montana Foreclosure Market by County – November 2006

 

County 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

Montana

2

86

0

0

1

89

4,630

0.21

n/a

 

 

 

 

 

 

 

 

 

 

Carbon

0

0

0

0

0

0

 

n/a

0.00

0.00

Cascade

0

15

0

0

0

15

2,348

0.41

1.97

Deer Lodge

0

1

0

0

0

1

4,958

0.19

0.93

Fergus

0

0

0

0

1

1

5,558

0.17

0.83

Flathead

0

16

0

0

0

16

2,173

0.44

2.13

Gallatin

0

4

0

0

0

4

7,372

0.13

0.63

Lake

0

2

0

0

0

2

6,803

0.14

0.68

Lewis and Clark

0

9

0

0

0

9

2,852

0.34

1.62

Lincoln

1

1

0

0

0

2

4,660

0.21

0.99

Mineral

0

0

0

0

0

0

 

n/a

0.00

0.00

Missoula

0

9

0

0

0

9

4,590

0.21

1.00

Ravalli

0

5

0

0

0

5

3,189

0.30

1.45

Sanders

0

0

0

0

0

0

 

n/a

0.00

0.00

Stillwater

1

0

0

0

0

1

3,947

0.24

1.17

Treasure

0

0

0

0

0

0

n/a

0.00

0.00

Yellowstone

0

24

0

0

0

24

2,273

0.42

2.04

 

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.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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