TENNESSEE FORECLOSURES DOWN 21 PERCENT IN DECEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Up 44 Percent From a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – Tennessee reported 2,852 properties entering some stage of the foreclosure process in December, down 21 percent from the 3,594 properties reported in November, but a 44 percent increase from the 1,983 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.

 

“Although Tennessee foreclosures decreased in December, the numbers are up from this time last year by nearly half,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s unemployment rate is above that of the national average and that home prices continue to decline. These factors are very likely contributing to the yearly increase we’re seeing in foreclosures.”

 

Tennessee ranked 14th in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 860 households ranks it 11th among the 50 states.

 

Top four counties account for largest share of state total

Four counties accounted for 59 percent of all Tennessee’s foreclosure activity for the month.

Shelby County lead the state, reporting 1,286 properties entering some stage of the foreclosure process. Davidson County had the second highest total, reporting 147 properties entered some stage of the foreclosure process. Knox County came in third, reporting 135 properties entering some stage of the foreclosure process followed by Hamilton County with 127 properties in the foreclosure pipeline.

 

State’s top foreclosure rate found in Shelby County

The state’s highest foreclosure rate for December was posted in Shelby County with one new foreclosure filing for every 282 households — 3.1 times the state average and 3.7 times the national average. Fayette County reported the second highest foreclosure rate with one new foreclosure filing for every 590 households — 1.5 times the state average and 1.8 times the national average. Montgomery County documented the third highest foreclosure rate, with one new foreclosure filing for every 614 households — 1.4 times the state average and 1.7 times the national average – followed by McNairy County with one new foreclosure filing for every 701 households – 1.2 times the state average and 1.5 times the national average.

 

State makes its mark on national total

Tennessee’s foreclosure activity accounted for 2.6 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.

 

              Tennessee 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

Tennessee

164

1,762

0

0

926

2,852

860

1.23

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

6

9

0

0

13

28

1,159

0.91

0.74

Bedford

0

12

0

0

9

21

714

1.48

1.20

Benton

0

0

0

0

2

2

4,298

0.25

0.20

Blount

0

10

0

0

0

10

4,706

0.22

0.18

Bradley

6

9

0

0

20

35

1,052

1.00

0.82

Campbell

1

4

0

0

15

20

926

1.14

0.93

Cannon

0

3

0

0

2

5

1,084

0.97

0.79

Carroll

0

5

0

0

5

10

1,306

0.81

0.66

Carter

1

4

0

0

8

13

1,994

0.53

0.43

Cheatham

5

8

0

0

6

19

711

1.48

1.21

Chester

1

4

0

0

1

6

1,030

1.02

0.84

Claiborne

3

2

0

0

6

11

1,206

0.87

0.71

Cocke

0

4

0

0

2

6

2,641

0.40

0.33

Coffee

0

10

0

0

6

16

1,297

0.81

0.66

Crockett

0

3

0

0

0

3

2,046

0.52

0.42

Cumberland

0

7

0

0

3

10

2,244

0.47

0.38

Davidson

7

109

0

0

31

147

1,721

0.61

0.50

Decatur

0

1

0

0

3

4

1,612

0.65

0.53

Dekalb

0

3

0

0

0

3

2,803

0.38

0.31

Dickson

0

7

0

0

10

17

1,036

1.02

0.83

Dyer

0

5

0

0

10

15

1,075

0.98

0.80

Fayette

7

8

0

0

4

19

590

1.79

1.46

Fentress

0

2

0

0

2

4

1,900

0.56

0.45

Franklin

2

4

0

0

7

13

1,293

0.82

0.66

Gibson

3

7

0

0

20

30

702

1.50

1.22

Giles

0

3

0

0

4

7

1,873

0.56

0.46

Grainger

0

6

0

0

4

10

973

1.08

0.88

Greene

2

7

0

0

10

19

1,480

0.71

0.58

Hamblen

0

12

0

0

1

13

1,899

0.56

0.45

Hamilton

6

77

0

0

44

127

1,061

0.99

0.81

Hardeman

0

6

0

0

3

9

1,188

0.89

0.72

Hardin

2

3

0

0

6

11

1,164

0.91

0.74

Hawkins

3

8

0

0

9

20

1,221

0.86

0.70

Haywood

0

5

0

0

4

9

898

1.17

0.96

Henderson

2

7

0

0

3

12

954

1.11

0.90

Henry

3

3

0

0

6

12

1,315

0.80

0.65

Hickman

0

2

0

0

9

11

809

1.30

1.06

Houston

0

2

0

0

0

2

1,951

0.54

0.44

Humphreys

0

0

0

0

2

2

4,241

0.25

0.20

Jackson

0

0

0

0

4

4

1,291

0.82

0.67

Jefferson

2

6

0

0

8

16

1,207

0.87

0.71

Johnson

0

0

0

0

4

4

1,970

0.54

0.44

Knox

2

54

0

0

79

135

1,270

0.83

0.68

Lauderdale

1

8

0

0

6

15

704

1.50

1.22

Lawrence

1

4

0

0

4

9

1,869

0.56

0.46

Lewis

0

3

0

0

3

6

804

1.31

1.07

Lincoln

0

4

0

0

1

5

2,800

0.38

0.31

Loudon

0

12

0

0

6

18

960

1.10

0.90

Macon

1

1

0

0

7

9

988

1.07

0.87

Madison

4

14

0

0

26

44

868

1.21

0.99

Marion

0

2

0

0

2

4

3,035

0.35

0.28

Marshall

0

6

0

0

9

15

745

1.41

1.15

Maury

1

18

0

0

5

24

1,195

0.88

0.72

Mcminn

0

7

0

0

5

12

1,802

0.59

0.48

Mcnairy

1

4

0

0

11

16

701

1.50

1.23

Meigs

0

1

0

0

0

1

5,188

0.20

0.17

Monroe

0

5

0

0

9

14

1,235

0.85

0.70

Montgomery

15

30

0

0

40

85

614

1.72

1.40

Morgan

0

0

0

0

3

3

2,571

0.41

0.33

Obion

0

3

0

0

0

3

4,830

0.22

0.18

Overton

0

3

0

0

3

6

1,528

0.69

0.56

Perry

0

0

0

0

1

1

4,115

0.26

0.21

Polk

1

3

0

0

0

4

1,842

0.57

0.47

Putnam

1

4

0

0

8

13

2,301

0.46

0.37

Rhea

0

5

0

0

6

11

1,142

0.92

0.75

Roane

0

14

0

0

17

31

754

1.40

1.14

Robertson

0

14

0

0

11

25

840

1.26

1.02

Rutherford

4

49

0

0

13

66

1,070

0.99

0.80

Sequatchie

0

1

0

0

2

3

1,639

0.64

0.52

Sevier

0

13

0

0

8

21

1,774

0.59

0.48

Shelby

63

988

0

0

235

1,286

282

3.74

3.05

Smith

0

2

0

0

3

5

1,533

0.69

0.56

Stewart

0

0

0

0

4

4

1,494

0.71

0.58

Sullivan

0

14

0

0

0

14

4,932

0.21

0.17

Sumner

5

26

0

0

22

53

1,163

0.91

0.74

Tipton

0

11

0

0

15

26

733

1.44

1.17

Trousdale

0

2

0

0

0

2

1,548

0.68

0.56

Unicoi

0

0

0

0

3

3

2,738

0.39

0.31

Union

0

3

0

0

5

8

990

1.07

0.87

Van Buren

0

1

0

0

1

2

1,227

0.86

0.70

Warren

1

6

0

0

4

11

1,517

0.70

0.57

Washington

0

11

0

0

16

27

1,770

0.60

0.49

Wayne

0

1

0

0

3

4

1,675

0.63

0.51

Weakley

0

6

0

0

4

10

1,493

0.71

0.58

White

0

2

0

0

4

6

1,699

0.62

0.51

Williamson

1

8

0

0

2

11

4,273

0.25

0.20

Wilson

0

12

0

0

14

26

1,343

0.79

0.64

 

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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