SOUTH DAKOTA FORECLOSURES INCREASE 158 PERCENT IN NOVEMBER

State’s Activity Level Up 15 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – South Dakota reported 31 properties entering some stage of the foreclosure process in November, a 158 percent increase from the 12 properties reported in October, and a 15 percent increase from the 27 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.

 

South Dakota foreclosures are up significantly during November,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show that while the state’s employment growth greatly surpasses the national average, salary growth is substantially lower than the national average. This, in addition to spreading drought conditions, is likely contributing to the recent rise. Even so, South Dakota still holds one of the lowest foreclosure numbers nationwide.”

 

South Dakota ranked 43rd in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 10,426 households ranked 43rd  among the 50 states.

 

Minnehaha County accounts for all foreclosure activity

Minnehaha County accounted for all of the 31 properties in South Dakota that entered some stage of the foreclosure process in November.  The county’s foreclosure rate was one new foreclosure for every 1,943 properties.

 

South Dakota makes minor contribution to national total

South 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.

 

 

                     South 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

South Dakota

3

28

0

0

0

31

10,426

0.09

n/a

 

 

 

 

 

 

 

 

 

 

Lincoln

0

0

0

0

0

0

                 n/a

0.00

0.00

Meade

0

0

0

0

0

0

                 n/a

0.00

0.00

Minnehaha

3

28

0

0

0

31

1,943

0.49

5.36

Moody

0

0

0

0

0

0

                 n/a

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.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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