NORTH CAROLINA FORECLOSURES DECREASE 19 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 83 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 11, 2006 – North Carolina reported 1,665 properties entering some stage of the foreclosure process, a 19 percent drop from the 2,061 properties reported in August, but still  83 percent above the 909 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 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.

 

“Though foreclosure activity in North Carolina is still higher than last year, things seem to be improving as job growth within the state remains above average,” said James J. Saccacio, chief executive officer of RealtyTrac. “The highest employment growth has been noticed in the construction, education, health services, and other service sectors, while North Carolina’s high-tech sector seems to be making a comeback.”

 

North Carolina ranked 17th in the country in total foreclosures reported for September. The state’s foreclosure rate of one new foreclosure filing for every 2,114 households — half of the national average — ranks it 25th among the 50 states.

 

Mecklenburg County tops in foreclosure activity

Mecklenburg County had the largest share of foreclosures in the state for September, reporting 431 properties entering some stage of the foreclosure process. Wake County had the second highest total, reporting 174 properties entering some stage of foreclosure. Third highest was Guilford County, reporting 99 properties in the foreclosure pipeline.

 

Highest foreclosure rate reported in Mecklenburg County

Mecklenburg County also posted the state’s highest foreclosure rate for the month, with one new foreclosure filing for every 679 households — 3.1 times the state average and 1.5 times the national average. Reporting one new foreclosure filing for every 896 households — 2.4 times the state average and 1.2 times the national average — Gaston County had the second highest foreclosure rate in the state, followed by Franklin County with one new filing for every 926 households — 2.3 times the state average and 1.1 times the national average.

 

North Carolina makes small contribution to national total

North Carolina’s foreclosure activity accounted for just over 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).

 

                                   North Carolina 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

North Carolina

549

99

0

0

1,017

1,665

2,061

0.48

 

 

 

 

 

 

 

 

 

 

Alamance

21

2

0

0

22

45

1,233

0.84

1.72

Alexander

0

0

0

0

1

1

14,098

0.07

0.15

Alleghany

0

0

0

0

0

0

0.00

0.00

Anson

0

0

0

0

1

1

10,221

0.10

0.21

Ashe

0

0

0

0

0

0

0.00

0.00

Avery

0

0

0

0

1

1

11,911

0.09

0.18

Beaufort

0

1

0

0

0

1

22,139

0.05

0.10

Bertie

0

1

0

0

0

1

9,050

0.11

0.23

Brunswick

0

1

0

0

6

7

7,347

0.14

0.29

Buncombe

4

1

0

0

13

18

5,221

0.20

0.40

Burke

1

2

0

0

0

3

12,476

0.08

0.17

Cabarrus

1

4

0

0

29

34

1,554

0.66

1.36

Caldwell

18

0

0

0

17

35

955

1.08

2.21

Carteret

0

0

0

0

1

1

40,947

0.03

0.05

Caswell

0

1

0

0

0

1

9,601

0.11

0.22

Catawba

2

0

0

0

39

41

1,461

0.71

1.45

Chatham

0

1

0

0

5

6

3,560

0.29

0.59

Cherokee

0

0

0

0

0

0

0.00

0.00

Clay

0

0

0

0

0

0

0.00

0.00

Cleveland

5

1

0

0

0

6

6,720

0.15

0.31

Columbus

0

1

0

0

3

4

6,015

0.17

0.35

Craven

1

1

0

0

4

6

6,358

0.16

0.33

Cumberland

0

5

0

0

49

54

2,193

0.47

0.96

Currituck

0

0

0

0

1

1

10,687

0.10

0.20

Dare

0

0

0

0

0

0

0.00

0.00

Davidson

0

0

0

0

24

24

2,601

0.40

0.81

Davie

0

0

0

0

0

0

0.00

0.00

Duplin

4

0

0

0

0

4

5,130

0.20

0.41

Durham

41

6

0

0

42

89

1,072

0.96

1.97

Edgecombe

1

0

0

0

0

1

24,002

0.04

0.09

Forsyth

1

12

0

0

48

61

2,182

0.47

0.97

Franklin

5

0

0

0

17

22

926

1.11

2.28

Gaston

58

3

0

0

27

88

896

1.15

2.36

Granville

0

1

0

0

2

3

5,965

0.17

0.35

Greene

0

0

0

0

0

0

0.00

0.00

Guilford

0

6

0

0

93

99

1,822

0.57

1.16

Halifax

0

1

0

0

0

1

25,309

0.04

0.08

Harnett

12

0

0

0

12

24

1,609

0.64

1.31

Haywood

0

0

0

0

16

16

1,790

0.58

1.18

Henderson

0

3

0

0

0

3

14,332

0.07

0.15

Hoke

1

1

0

0

3

5

2,504

0.41

0.84

Iredell

1

2

0

0

25

28

1,854

0.56

1.14

Jackson

0

0

0

0

2

2

9,646

0.11

0.22

Johnston

24

3

0

0

27

54

930

1.11

2.27

Jones

0

0

0

0

1

1

4,679

0.22

0.45

Lee

4

0

0

0

9

13

1,531

0.67

1.38

Lenoir

2

0

0

0

0

2

13,592

0.08

0.16

Lincoln

0

0

0

0

19

19

1,354

0.76

1.56

Madison

0

0

0

0

0

0

0.00

0.00

Martin

0

0

0

0

0

0

0.00

0.00

McDowell

0

0

0

0

2

2

9,189

0.11

0.23

Mecklenburg

185

12

0

0

234

431

679

1.52

3.11

Mitchell

0

0

0

0

0

0

0.00

0.00

Montgomery

0

0

0

0

0

0

0.00

0.00

Moore

8

0

0

0

6

14

2,511

0.41

0.84

Nash

22

1

0

0

16

39

950

1.08

2.23

New Hanover

3

1

0

0

5

9

8,846

0.12

0.24

Northampton

0

0

0

0

2

2

5,228

0.20

0.40

Onslow

0

4

0

0

1

5

11,145

0.09

0.19

Orange

0

0

0

0

0

0

0.00

0.00

Pamlico

0

1

0

0

0

1

6,782

0.15

0.31

Pasquotank

0

0

0

0

0

0

0.00

0.00

Pender

11

0

0

0

5

16

1,300

0.79

1.63

Perquimans

0

0

0

0

0

0

0.00

0.00

Person

0

0

0

0

3

3

5,168

0.20

0.41

Pitt

0

2

0

0

0

2

29,204

0.04

0.07

Polk

0

0

0

0

0

0

0.00

0.00

Randolph

0

1

0

0

17

18

3,025

0.34

0.70

Richmond

0

0

0

0

0

0

0.00

0.00

Robeson

1

0

0

0

0

1

47,779

0.02

0.04

Rockingham

0

2

0

0

0

2

20,104

0.05

0.11

Rowan

1

2

0

0

24

27

1,999

0.52

1.06

Rutherford

4

1

0

0

9

14

2,110

0.49

1.00

Sampson

0

0

0

0

4

4

6,286

0.16

0.34

Scotland

0

0

0

0

2

2

7,347

0.14

0.29

Stanly

0

0

0

0

6

6

4,097

0.25

0.52

Stokes

0

0

0

0

3

3

6,421

0.16

0.33

Surry

0

0

0

0

1

1

31,033

0.03

0.07

Transylvania

0

0

0

0

0

0

0.00

0.00

Union

1

1

0

0

11

13

3,515

0.29

0.60

Vance

0

0

0

0

11

11

1,654

0.62

1.28

Wake

95

6

0

0

73

174

1,488

0.69

1.42

Washington

0

2

0

0

1

3

2,058

0.50

1.03

Watauga

0

0

0

0

0

0

0.00

0.00

Wayne

10

3

0

0

13

26

1,820

0.57

1.16

Wilkes

0

0

0

0

0

0

0.00

0.00

Wilson

1

0

0

0

5

6

5,122

0.20

0.41

Yadkin

0

0

0

0

4

4

3,955

0.26

0.53

Yancey

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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