NORTH DAKOTA FORECLOSURES DECREASE 19 PERCENT IN NOVEMBER

State’s Activity Level Down 7 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – North Dakota reported 13 properties entering some stage of the foreclosure process in November, a 19 percent decrease from the 16 properties reported in October, and a 7 percent increase from the 14 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.

 

North Dakota foreclosures have gone down both in November and from this time last year,” said James J. Sacccio, chief executive officer of RealtyTrac. “Recent statistics show that the state’s employment growth continues to be above the national average with strong gains in nearly all sectors. This is likely contributing to the overall decline.”

 

North Dakota ranked 47th in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 22,282 households ranked 47th among the 50 states.

 

Cass County leads state in activity

Cass County reported the largest share of North Dakota’s foreclosure activity in November, with eight properties entering some stage of the foreclosure process. Grand Forks County reported the second highest total, with two properties entering some stage of the foreclosure process for the month. Burleigh, Richmond and Stutsman Counties each reported one property entering some stage of the foreclosure process. 

 

Cass County also posts state’s top foreclosure rate

Cass County also posted the top foreclosure rate in the state for November, reporting one new foreclosure filing for every 6,724 households — 3.3 times the state average. Richland County reported the second highest foreclosure rate, with one new foreclosure filing for every 7,575 households — 2.9 times the state average. Stutsman County posted the third highest foreclosure rate, with one new foreclosure filing for every 9,817 households — 2.3 times the state average.

 

North Dakota makes minor contribution to national total

North Dakota’s foreclosure activity accounted for less than 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.

 

                     North Dakota 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

North Dakota

0

0

0

0

13

13

22,282

0.04

n/a

 

 

 

 

 

 

 

 

 

 

Barnes

0

0

0

0

0

0

                 n/a

0.00

0.00

Burleigh

0

0

0

0

1

1

29,003

0.03

0.76

Cass

0

0

0

0

8

8

6,724

0.14

3.31

Grand Forks

0

0

0

0

2

2

13,687

0.07

1.62

Richland

0

0

0

0

1

1

7,575

0.12

2.94

Stutsman

0

0

0

0

1

1

9,817

0.09

2.27

 

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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