NEBRASKA FORECLOSURES JUMP 148 PERCENT IN AUGUST

State’s Activity 283 Percent Higher Than a Year Ago

 

IRVINE, Calif. – August 31, 2006 – Nebraska reported 310 properties entering some stage of the foreclosure process in August, a 148 percent spike in activity from the 125 properties reported in July, and 283 percent above the 81 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 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.

 

“Up until this month, Nebraska had managed to keep its foreclosure rate down, due in part to robust job growth and recovery in the manufacturing industry,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, this recent spike in foreclosures may be linked to higher energy costs and a slowdown in home sales.”

 

Nebraska ranked 34th in the country in total foreclosures reported for August. The state’s foreclosure rate of one new foreclosure filing for every 2,318 households — 43 percent of the national average — ranks it 27th among the 50 states.

 

Douglas County tops in foreclosure activity

Leading the state in foreclosures for the month was Douglas County, reporting 245 properties entering some stage of the foreclosure process. Sarpy County had the second highest total, reporting 33 properties entering some stage of the process. The only other country reporting significant foreclosure activity for the month was Lancaster County with 21 properties in the foreclosure pipeline.

 

Highest foreclosure rate reported in Douglas County

Douglas County posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 786 households — three times the state average and 1.3 times the national average.  Reporting one new foreclosure filing for every 1,363 households — 1.7 times the state average and 70 percent of the national average — Sarpy County had the second highest foreclosure rate in the state.

 

State has little impact on national total

Nebraska‘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).

 

                              Nebraska Foreclosure Market by County – August 2006

 

State 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

Nebraska

1

200

0

0

109

310

2,318

0.43

 

 

 

 

 

 

 

 

 

 

Burt

0

0

0

0

0

0

0.00

0.00

Cass

0

0

0

0

0

0

0.00

0.00

Cheyenne

0

0

0

0

0

0

0.00

0.00

Cuming

0

1

0

0

0

1

4,283

0.23

0.54

Custer

0

0

0

0

0

0

0.00

0.00

Dodge

0

1

0

0

0

1

15,468

0.06

0.15

Douglas

1

140

0

0

104

245

786

1.28

2.95

Gage

0

1

0

0

0

1

10,030

0.10

0.23

Lancaster

0

21

0

0

0

21

4,963

0.20

0.47

Pierce

0

1

0

0

0

1

3,247

0.31

0.71

Platte

0

0

0

0

0

0

0.00

0.00

Sarpy

0

31

0

0

2

33

1,363

0.74

1.70

Saunders

0

0

0

0

1

1

9,266

0.11

0.25

Scotts Bluff

0

4

0

0

2

6

2,687

0.37

0.86

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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