TENNESSEE FORECLOSURES DECREASE 1 PERCENT IN JULY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 47 Percent From a Year Ago

 

IRVINE, Calif. – July 31, 2006 – Tennessee reported 2,373 properties entering some stage of the foreclosure process in July, a 1 percent decrease in activity from the 2,404 properties reported in June, and a 47 percent decrease from the 4,481 properties reported for the same month last year, according to the RealtyTrac™ July 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, AOL Real Estate and Knight Ridder Online.

 

Tennessee foreclosures are the lowest we’ve seen them all year,” said James J. Saccacio, chief executive officer of RealtyTrac.  “Recent employment growth in all sectors except manufacturing are likely contributing to this decline.”

 

Tennessee ranked 13th in the nation for total foreclosures in July. The state’s foreclosure rate of one new foreclosure filing for every 1,033 households — 21 percent above the national average — ranks it 11th among the 50 states.

 

Shelby County Accounted for Largest Share of State Total

Leading the state in foreclosures for the month was Shelby County, reporting 1,148 properties entering some stage of the foreclosure process.  Davidson County came in at a distant second, reporting 124 properties, followed by Hamilton County reporting 103 properties entering some stage of the foreclosure process.  

 

Highest Foreclosure Rate Posted in Shelby County

Shelby County also posted the state’s highest foreclosure rate in July, reporting one new foreclosure filing for every 316 households — 3.3 times the state average and 3.9 times the national average.  Reporting one new foreclosure filing for every 388 households – 2.7 times the state average and 3.2 times the national average – Lake County had the second highest foreclosure rate, followed by Madison County with one new foreclosure filing for every 708 households – 1.5 times the state average and 1.8 times the national average.  Other notable foreclosure rates were in Hickman County with one new foreclosure filing for every 742 households — 1.4 times the state average and 1.7 times the national average and Lewis County with one new foreclosure filing for every 804 households — 1.3 times the state average and 1.6 times the national average.

 

State Accounts for 2.6 Percent of National Total

Tennessee‘s foreclosure activity accounted for 2.6 percent of the 92,845 properties entering some stage of the foreclosure process nationwide in July. The national total represents a 5 percent increase from the 88,194 foreclosures reported in June. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,245 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).

 

  

                          Tennessee Foreclosure Market by County – July 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

Tennessee

20

1,370

0

0

983

2,373

1,033

1.21

 

 

 

 

 

 

 

 

 

 

Anderson

0

10

0

0

12

22

1,475

0.84

0.70

Bedford

0

4

0

0

11

15

999

1.25

1.03

Benton

0

2

0

0

3

5

1,719

0.72

0.60

Bledsoe

0

1

0

0

0

1

5,142

0.24

0.20

Blount

0

12

0

0

1

13

3,620

0.34

0.29

Bradley

0

10

0

0

13

23

1,601

0.78

0.65

Campbell

1

6

0

0

8

15

1,235

1.01

0.84

Cannon

0

2

0

0

1

3

1,807

0.69

0.57

Carroll

0

3

0

0

4

7

1,865

0.67

0.55

Carter

1

1

0

0

12

14

1,851

0.67

0.56

Cheatham

0

3

0

0

4

7

1,930

0.65

0.54

Chester

1

0

0

0

4

5

1,236

1.01

0.84

Claiborne

0

2

0

0

3

5

2,652

0.47

0.39

Cocke

0

3

0

0

4

7

2,263

0.55

0.46

Coffee

0

5

0

0

12

17

1,220

1.02

0.85

Crockett

0

2

0

0

4

6

1,023

1.22

1.01

Cumberland

1

4

0

0

3

8

2,805

0.44

0.37

Davidson

0

78

0

0

46

124

2,040

0.61

0.51

Decatur

0

0

0

0

1

1

6,448

0.19

0.16

Dekalb

0

1

0

0

0

1

8,409

0.15

0.12

Dickson

0

5

0

0

5

10

1,761

0.71

0.59

Dyer

0

4

0

0

8

12

1,344

0.93

0.77

Fayette

0

1

0

0

4

5

2,243

0.56

0.46

Fentress

0

2

0

0

1

3

2,533

0.49

0.41

Franklin

0

5

0

0

7

12

1,401

0.89

0.74

Gibson

0

9

0

0

13

22

957

1.30

1.08

Giles

0

1

0

0

9

10

1,311

0.95

0.79

Grainger

0

2

0

0

2

4

2,433

0.51

0.42

Greene

0

5

0

0

3

8

3,515

0.35

0.29

Grundy

0

0

0

0

1

1

6,282

0.20

0.16

Hamblen

0

6

0

0

17

23

1,074

1.16

0.96

Hamilton

0

54

0

0

49

103

1,308

0.95

0.79

Hardeman

0

5

0

0

4

9

1,188

1.05

0.87

Hardin

0

1

0

0

3

4

3,202

0.39

0.32

Hawkins

0

6

0

0

9

15

1,628

0.77

0.63

Haywood

0

1

0

0

5

6

1,348

0.92

0.77

Henderson

0

3

0

0

2

5

2,289

0.54

0.45

Henry

1

2

0

0

2

5

3,157

0.39

0.33

Hickman

0

3

0

0

9

12

742

1.68

1.39

Humphreys

0

3

0

0

5

8

1,060

1.17

0.97

Jackson

0

1

0

0

2

3

1,721

0.72

0.60

Jefferson

0

4

0

0

4

8

2,415

0.52

0.43

Johnson

0

1

0

0

2

3

2,626

0.47

0.39

Knox

2

42

0

0

52

96

1,786

0.70

0.58

Lake

0

4

0

0

3

7

388

3.21

2.66

Lauderdale

0

4

0

0

6

10

1,056

1.18

0.98

Lawrence

0

4

0

0

0

4

4,205

0.30

0.25

Lewis

0

2

0

0

4

6

804

1.55

1.29

Lincoln

0

2

0

0

1

3

4,666

0.27

0.22

Loudon

1

1

0

0

2

4

4,319

0.29

0.24

Macon

0

1

0

0

4

5

1,779

0.70

0.58

Madison

1

17

0

0

36

54

708

1.76

1.46

Marion

0

6

0

0

3

9

1,349

0.92

0.77

Marshall

2

7

0

0

3

12

932

1.34

1.11

Maury

0

7

0

0

17

24

1,195

1.04

0.86

Mcminn

0

8

0

0

9

17

1,272

0.98

0.81

Mcnairy

0

4

0

0

4

8

1,402

0.89

0.74

Meigs

0

2

0

0

1

3

1,729

0.72

0.60

Monroe

0

5

0

0

5

10

1,729

0.72

0.60

Montgomery

0

36

0

0

19

55

948

1.31

1.09

Moore

0

0

0

0

1

1

2,515

0.50

0.41

Morgan

0

2

0

0

4

6

1,286

0.97

0.80

Obion

0

3

0

0

0

3

4,830

0.26

0.21

Overton

0

0

0

0

3

3

3,056

0.41

0.34

Perry

0

0

0

0

1

1

4,115

0.30

0.25

Polk

0

2

0

0

2

4

1,842

0.68

0.56

Putnam

0

4

0

0

6

10

2,992

0.42

0.35

Rhea

0

1

0

0

6

7

1,795

0.69

0.58

Roane

0

4

0

0

17

21

1,113

1.12

0.93

Robertson

0

9

0

0

11

20

1,050

1.19

0.98

Rutherford

1

29

0

0

26

56

1,261

0.99

0.82

Scott

0

0

0

0

0

0

 

0.00

0.00

Sequatchie

0

0

0

0

2

2

2,458

0.51

0.42

Sevier

2

7

0

0

16

25

1,490

0.84

0.69

Shelby

6

798

0

0

344

1,148

316

3.94

3.27

Smith

0

2

0

0

3

5

1,533

0.81

0.67

Stewart

0

1

0

0

1

2

2,989

0.42

0.35

Sullivan

0

12

0

0

0

12

5,754

0.22

0.18

Sumner

0

19

0

0

2

21

2,936

0.42

0.35

Tipton

0

9

0

0

12

21

908

1.37

1.14

Trousdale

0

0

0

0

1

1

3,095

0.40

0.33

Unicoi

0

0

0

0

0

0

 

0.00

0.00

Union

0

1

0

0

1

2

3,958

0.31

0.26

Van Buren

0

0

0

0

2

2

1,227

1.02

0.84

Warren

0

5

0

0

2

7

2,384

0.52

0.43

Washington

0

7

0

0

11

18

2,654

0.47

0.39

Wayne

0

0

0

0

3

3

2,234

0.56

0.46

Weakley

0

2

0

0

3

5

2986

0.42

0.35

White

0

2

0

0

2

4

2,548

0.49

0.41

Williamson

0

7

0

0

8

15

3,134

0.40

0.33

Wilson

0

19

0

0

12

31

1,126

1.11

0.92

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. 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