TENNESSEE FORECLOSURES DECREASE 2 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 59 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Tennessee reported 3,594 properties entering some stage of the foreclosure process in November, a 2 percent decrease from the 3,671 properties reported in October, but still a 59 percent increase above the 2,266 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 nearly 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.

 

“Despite the dip in foreclosure activity in November, Tennessee continues to post a foreclosure rate that is among the nation’s 10 highest state foreclosure rates,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s home price appreciation slowed in the third quarter, and the state’s unemployment is slightly above the national average, both pointing to a housing market in which homeowners in financial trouble will have difficulty avoiding default or foreclosure.”

 

Tennessee’s foreclosure rate of one new foreclosure filing for every 682 households ranked 10th highest among the 50 states and was 1.4 times the national average. The state ranked 12th in terms of raw foreclosure total.

 

Shelby County tops in foreclosure activity

Shelby County documented the largest share of Tennessee foreclosures, with 1,502 properties entering some stage of the foreclosure process during the month. Davidson County documented the second highest total, with 323 properties entering some stage of foreclosure. Third highest was Hamilton County, reporting 201 properties in foreclosure.

 

Highest foreclosure rate reported in Shelby County

Shelby County also posted the state’s highest county foreclosure rate in November, one new foreclosure filing for every 241 households — 2.8 times the state average and nearly four times the national average. Reporting one new foreclosure filing for every 342 households — nearly two times the state average and 2.8 times the national average — Hickman County registered the second highest foreclosure rate in the state.

 

Tennessee accounts for 3 percent of U.S. total

Tennessee accounted for 3 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents an almost 4 percent increase in activity from the 115,568 foreclosures reported in October. The national 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.

 

                Tennessee Foreclosure Market by County – November 2006

 

State 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

Tennessee

886

1,605

0

0

1,103

3,594

682

1.40

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

8

13

0

0

8

29

1,119

0.85

0.61

Bedford

8

11

0

0

12

31

484

1.98

1.41

Benton

2

0

0

0

0

2

4,298

0.22

0.15

Bledsoe

0

2

0

0

1

3

1,714

0.56

0.39

Blount

0

11

0

0

1

12

3,922

0.24

0.17

Bradley

11

16

0

0

15

42

877

1.09

0.77

Campbell

8

12

0

0

9

29

639

1.50

1.06

Cannon

1

4

0

0

0

5

1,084

0.88

0.62

Carroll

4

4

0

0

4

12

1,088

0.88

0.62

Carter

1

4

0

0

3

8

3,240

0.29

0.21

Cheatham

5

8

0

0

6

19

711

1.35

0.96

Chester

0

2

0

0

1

3

2,059

0.46

0.33

Claiborne

3

0

0

0

2

5

2,652

0.36

0.25

Cocke

4

1

0

0

12

17

932

1.03

0.73

Coffee

6

7

0

0

2

15

1,383

0.69

0.49

Crockett

4

1

0

0

0

5

1,228

0.78

0.55

Cumberland

8

14

0

0

4

26

863

1.11

0.79

Davidson

141

112

0

0

70

323

783

1.22

0.87

Decatur

1

1

0

0

6

8

806

1.19

0.84

Dekalb

0

4

0

0

0

4

2,102

0.45

0.32

Dickson

5

7

0

0

13

25

705

1.36

0.96

Dyer

3

2

0

0

6

11

1,466

0.65

0.46

Fayette

6

3

0

0

5

14

801

1.20

0.85

Fentress

2

1

0

0

4

7

1,085

0.88

0.62

Franklin

7

7

0

0

8

22

764

1.25

0.89

Gibson

18

13

0

0

18

49

430

2.23

1.58

Giles

6

1

0

0

2

9

1,457

0.66

0.46

Grainger

0

2

0

0

4

6

1,622

0.59

0.42

Greene

12

6

0

0

10

28

1,004

0.95

0.67

Grundy

0

0

0

0

0

0

n/a 

0.00

0.00

Hamblen

11

10

0

0

11

32

772

1.24

0.88

Hamilton

48

45

0

0

108

201

670

1.43

1.01

Hardeman

5

6

0

0

6

17

629

1.52

1.08

Hardin

3

3

0

0

5

11

1,164

0.82

0.58

Hawkins

1

3

0

0

11

15

1,628

0.59

0.41

Haywood

0

3

0

0

2

5

1,617

0.59

0.42

Henderson

1

7

0

0

2

10

1,145

0.84

0.59

Henry

4

3

0

0

4

11

1,435

0.67

0.47

Hickman

7

6

0

0

13

26

342

2.80

1.99

Houston

1

0

0

0

0

1

3,901

0.24

0.17

Humphreys

5

1

0

0

3

9

942

1.02

0.72

Jackson

1

1

0

0

1

3

1,721

0.55

0.39

Jefferson

2

3

0

0

10

15

1,288

0.74

0.53

Johnson

0

3

0

0

1

4

1,970

0.48

0.34

Knox

13

56

0

0

79

148

1,158

0.83

0.58

Lake

0

0

0

0

1

1

2,716

0.35

0.25

Lauderdale

8

6

0

0

6

20

528

1.81

1.29

Lawrence

6

4

0

0

7

17

989

0.97

0.69

Lewis

1

3

0

0

3

7

689

1.39

0.99

Lincoln

1

4

0

0

5

10

1,400

0.68

0.48

Loudon

5

5

0

0

8

18

960

1.00

0.71

Macon

0

3

0

0

4

7

1,271

0.75

0.53

Madison

6

12

0

0

32

50

764

1.25

0.89

Marion

2

2

0

0

2

6

2,023

0.47

0.33

Marshall

0

7

0

0

7

14

799

1.20

0.85

Maury

5

13

0

0

12

30

956

1.00

0.71

Mcminn

6

5

0

0

14

25

865

1.11

0.78

Mcnairy

4

7

0

0

6

17

660

1.45

1.03

Meigs

0

2

0

0

1

3

1,729

0.55

0.39

Monroe

2

1

0

0

5

8

2,161

0.44

0.31

Montgomery

5

21

0

0

21

47

1,110

0.86

0.61

Moore

0

0

0

0

1

1

2,515

0.38

0.27

Morgan

0

4

0

0

4

8

964

0.99

0.70

Obion

0

4

0

0

0

4

3,622

0.26

0.18

Overton

0

1

0

0

2

3

3,056

0.31

0.22

Pickett

0

1

0

0

0

1

2,956

0.32

0.23

Polk

0

0

0

0

2

2

3,685

0.26

0.18

Putnam

3

5

0

0

7

15

1,994

0.48

0.34

Rhea

1

2

0

0

6

9

1,396

0.68

0.48

Roane

1

5

0

0

8

14

1,669

0.57

0.40

Robertson

2

10

0

0

12

24

875

1.09

0.78

Rutherford

37

58

0

0

34

129

547

1.75

1.24

Scott

0

1

0

0

0

1

8,909

0.10

0.07

Sequatchie

0

1

0

0

1

2

2,458

0.39

0.27

Sevier

0

12

0

0

17

29

1,285

0.74

0.53

Shelby

340

891

0

0

271

1,502

241

3.98

2.82

Smith

1

0

0

0

6

7

1,095

0.87

0.62

Stewart

0

1

0

0

4

5

1,195

0.80

0.57

Sullivan

0

8

0

0

0

8

8,632

0.11

0.07

Sumner

38

26

0

0

21

85

725

1.32

0.94

Tipton

7

16

0

0

21

44

433

2.21

1.57

Trousdale

0

0

0

0

3

3

1,032

0.93

0.66

Unicoi

0

1

0

0

2

3

2,738

0.35

0.24

Union

1

1

0

0

6

8

990

0.97

0.69

Van Buren

0

0

0

0

1

1

2,453

0.39

0.27

Warren

2

3

0

0

13

18

927

1.03

0.73

Washington

2

8

0

0

13

23

2,077

0.46

0.32

Wayne

1

0

0

0

1

2

3,351

0.28

0.20

Weakley

1

4

0

0

7

12

1,244

0.77

0.54

White

0

1

0

0

2

3

3,397

0.28

0.20

Williamson

11

12

0

0

12

35

1,343

0.71

0.50

Wilson

11

15

0

0

10

36

970

0.99

0.70

 

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

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