NORTH DAKOTA FORECLOSURES DOWN 9 PERCENT IN AUGUST

State’s Activity Still 100 Percent Higher Than a Year Ago

 

IRVINE, Calif. – August 31, 2006 – North Dakota reported 10 properties entering some stage of the foreclosure process in August, a 9 percent drop in activity from the 11 properties reported in July, but 100 percent above the five 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.

 

North Dakota continues to see a declining rate of foreclosures though activity is still much higher than it was a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Solid home price appreciation and job growth continue to keep the state inoculated against high foreclosure rates.”

 

North Dakota ranked 49th in the country in total foreclosures reported for August. The state’s foreclosure rate of one new foreclosure filing for every 28,697 households — 3 percent of the national average — ranks it 48th among the 50 states.

 

Top two counties account for largest share of state total

Two counties accounted for 50 percent of all foreclosures in North Dakota for August. The highest total for the month was found in Cass County, where three properties were reported entering some stage of the foreclosure process. Ward County had the second highest total, reporting two properties entering some stage of the foreclosure process.

 

Highest foreclosure rate reported in Pembina County

Pembina County posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 4,115 households — 7 times the state average and 24 percent of the national average.  Reporting one new foreclosure filing for every 7,575 households — 3.8 times the state average and 13 percent of the national average — Richland County had the second highest foreclosure rate in the state.

 

State has minimal impact on national total

North Dakota‘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).

 

 

                           North Dakota 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

North Dakota

1

0

0

0

9

10

28,967

0.04

 

 

 

 

 

 

 

 

 

 

Barnes

0

0

0

0

0

0

0.00

0.00

Cass

0

0

0

0

3

3

17,930

0.06

1.62

Grand Forks

1

0

0

0

0

1

27,373

0.04

1.06

Pembina

0

0

0

0

1

1

4,115

0.24

7.04

Richland

0

0

0

0

1

1

7,575

0.13

3.82

Stark

0

0

0

0

1

1

9,722

0.10

2.98

Stutsman

0

0

0

0

1

1

9,817

0.10

2.95

Traill

0

0

0

0

0

0

0.00

0.00

Ward

0

0

0

0

2

2

12,549

0.08

2.31

 

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

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved