NORTH DAKOTA FORECLOSURES UP 8 PERCENT IN DECEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Soars 133 Percent From a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – North Dakota reported 14 properties entering some stage of the foreclosure process in December, an 8 percent increase from the 13 properties reported in November, and soaring 133 percent above the six 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’s foreclosure rate continues to increase even though the state reports an improved economy and declining unemployment rate,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, foreclosure activity is a lagging indicator of economic growth, so foreclosures could possibly decline in the coming months.”  

 

North Dakota ranked 47th in the country in both total foreclosures reported for December and foreclosure rate, reporting of one new foreclosure filing for every 20,691 households.

 

Cass County accounts for largest share of state total

Cass County reported the largest share of North Dakota’s foreclosure activity in December, with 10 properties entering some stage of the foreclosure process during the month.

 

State’s top foreclosure rate found in Cass County

Cass County also posted the state’s highest foreclosure rate for December, with one new foreclosure filing for every 5,379 households — 3.9 times the state average. Stutsman County reported the second highest foreclosure rate, with one new foreclosure filing for every 9,817 households — 2.1 times the state average.

 

State makes minor contribution to national total

North Dakota’s foreclosure activity accounted for less than 1 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 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 – December 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

North Dakota

1

0

0

0

13

14

20,691

0.05

n/a

 

 

 

 

 

 

 

 

 

 

Burleigh

0

0

0

0

1

1

29,003

0.04

0.71

Cass

0

0

0

0

10

10

5,379

0.20

3.85

Divide

0

0

0

0

0

0

n/a

0.00

0.00

Grand Forks

0

0

0

0

1

1

27,373

0.04

0.76

Stutsman

1

0

0

0

0

1

9,817

0.11

2.11

Traill

0

0

0

0

0

0

n/a

0.00

0.00

Ward

0

0

0

0

1

1

25,097

0.04

0.82

 

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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