MONTANA FORECLOSURES INCREASE 79 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 8 Percent From a Year Ago

 

IRVINE, Calif. – October 11, 2006 – Montana reported 104 properties entering some stage of the foreclosure process in September, a 79 percent increase in activity from the 58 properties reported in August, but an 8 percent decrease from the 113 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.

 

“After a steady decline since the first quarter of this year, Montana foreclosures are the highest they’ve been in six months,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s housing market is beginning to cool, which may be contributing to the recent rise.”

 

Montana ranked among the 12 lowest states for foreclosure activity during September. The state’s foreclosure rate of one new foreclosure filing for every 3,962 households — 26 percent of the national average — ranks it 35th among the 50 states.

 

Top four counties account for largest share of state total

Four counties accounted for 83 percent of all foreclosures in the state of Montana for September.  Leading the state in foreclosures for the month was Yellowstone County, reporting 43 properties entering some stage of the foreclosure process. Cascade County had the second highest total, reporting 25 properties entering some stage of the foreclosure process, followed by Flathead and Lewis and Clark Counties, each reporting nine properties entering some stage of the foreclosure process.

 

Highest foreclosure rate reported in Yellowstone County

Yellowstone County posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 1,269 households — 3.1 times the state average. Reporting one new foreclosure filing for every 1,409 households — 2.8 times the state average — Cascade County had the second highest foreclosure rate in the state, followed by Deer Lodge County with one new foreclosure filing for every 2,479 households — 1.6 times the state average.  Lewis and Clark County completed the top four with one new foreclosure filing for every 2,852 households — 1.4 times the state average.

 

State accounts for little of national total

Montana’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).

 

                       Montana 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

1,030

Montana

2

96

0

0

6

104

3,692

0.26

 

 

 

 

 

 

 

 

 

 

Cascade

0

23

0

0

2

25

1,409

0.73

2.81

Deer Lodge

0

1

0

0

1

2

2,479

0.42

1.60

Flathead

1

8

0

0

0

9

3,864

0.27

1.03

Gallatin

0

3

0

0

0

3

9,830

0.10

0.40

Lake

0

0

0

0

0

0

0.00

0.00

Lewis And Clark

1

6

0

0

2

9

2,852

0.36

1.39

Lincoln

0

0

0

0

0

0

0.00

0.00

Madison

0

1

0

0

0

1

4,671

0.22

0.85

Mineral

0

0

0

0

0

0

0.00

0.00

Missoula

0

8

0

0

0

8

5,164

0.20

0.77

Ravalli

0

3

0

0

1

4

3,987

0.26

0.99

Sanders

0

0

0

0

0

0

0.00

0.00

Stillwater

0

0

0

0

0

0

0.00

0.00

Yellowstone

0

43

0

0

0

43

1,269

0.81

3.12

 

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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