TENNESSEE FORECLOSURES FLAT IN AUGUST

State’s Activity 61 Percent Higher Than a Year Ago

 

IRVINE, Calif. – August 31, 2006 – Tennessee reported 2,377 properties entering some stage of the foreclosure process in August, a less than 1 percent change in activity from the 2,373 properties reported in July, but still 61 percent above the 1,480 properties reported for the same month last year, according to the RealtyTrac™ August 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

 

“Even though Tennessee‘s foreclosure rate seems flat this month, activity in the state remains above the national average,” said James J. Saccacio, chief executive officer of RealtyTrac. “It will take a significant decrease to bring activity back down to the level it was last year.”

 

Tennessee ranked 14th in the country in total foreclosures reported for August. The state’s foreclosure rate of one new foreclosure filing for every 1,032 households — 97 percent of the national average — ranks it 13th among the 50 states.

 

Shelby County accounts for large share of state total

More than half of all foreclosures reported in Tennessee for August were found in Shelby County, where 1,285 properties entered some stage of the foreclosure process. Davidson County had the second highest total, reporting 161 properties entering some stage of the foreclosure process.

 

Highest foreclosure rate reported in Shelby County

Shelby County posted the state’s highest foreclosure rate in August, with one new foreclosure filing for every 282 households — 3.7 times the state average and 3.6 times the national average.  Reporting one new foreclosure filing for every 679 households — 1.5 times the state average and 1.5 times the national average — Lake County had the second highest foreclosure rate in the state. Completing the top five were McMinn County reporting one new foreclosure filing for every 865 households, Marshall County reporting one new foreclosure filing for every 932 households and Tipton County reporting one new foreclosure filing for every 1,059 households.

 

State makes significant contribution to national total

Tennessee‘s foreclosure activity accounted for 2 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 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 – August 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,611

45,704

7,328

21,533

20,116

115,292

1,003

Tennessee

19

1,398

0

0

960

2,377

1,032

0.97

 

 

 

 

 

 

 

 

 

 

Anderson

1

8

0

0

10

19

1,708

0.59

0.60

Bedford

0

3

0

0

7

10

1,499

0.67

0.69

Benton

0

2

0

0

2

4

2,149

0.47

0.48

Bledsoe

0

1

0

0

0

1

5,142

0.20

0.20

Blount

0

8

0

0

0

8

5,882

0.17

0.18

Bradley

0

9

0

0

11

20

1,841

0.54

0.56

Campbell

0

3

0

0

10

13

1,425

0.70

0.72

Cannon

0

3

0

0

1

4

1,355

0.74

0.76

Carroll

0

4

0

0

2

6

2,176

0.46

0.47

Carter

0

0

0

0

1

1

25,920

0.04

0.04

Cheatham

0

3

0

0

4

7

1,930

0.52

0.53

Chester

0

0

0

0

2

2

3,089

0.32

0.33

Claiborne

0

1

0

0

9

10

1,326

0.76

0.78

Cocke

0

0

0

0

9

9

1,760

0.57

0.59

Coffee

0

3

0

0

10

13

1,596

0.63

0.65

Crockett

0

1

0

0

1

2

3,069

0.33

0.34

Cumberland

0

3

0

0

5

8

2,805

0.36

0.37

Davidson

0

89

0

0

72

161

1,571

0.64

0.66

Decatur

0

0

0

0

2

2

3,224

0.31

0.32

Dekalb

0

2

0

0

0

2

4,205

0.24

0.25

Dickson

0

6

0

0

8

14

1,258

0.80

0.82

Dyer

1

4

0

0

6

11

1,466

0.68

0.70

Fayette

0

1

0

0

5

6

1,869

0.54

0.55

Fentress

0

4

0

0

1

5

1,520

0.66

0.68

Franklin

0

2

0

0

3

5

3,363

0.30

0.31

Gibson

1

9

0

0

9

19

1,108

0.90

0.93

Giles

0

1

0

0

2

3

4,371

0.23

0.24

Grainger

0

1

0

0

4

5

1,946

0.52

0.53

Greene

0

1

0

0

12

13

2,163

0.46

0.48

Grundy

0

1

0

0

0

1

6,282

0.16

0.16

Hamblen

0

4

0

0

5

9

2,744

0.37

0.38

Hamilton

0

34

0

0

50

84

1,603

0.63

0.64

Hardeman

0

3

0

0

5

8

1,337

0.75

0.77

Hardin

0

3

0

0

5

8

1,601

0.63

0.64

Hawkins

0

5

0

0

7

12

2,035

0.49

0.51

Haywood

0

2

0

0

5

7

1,155

0.87

0.89

Henderson

0

2

0

0

2

4

2,862

0.35

0.36

Henry

0

0

0

0

6

6

2,631

0.38

0.39

Hickman

0

4

0

0

4

8

1,113

0.90

0.93

Humphreys

1

1

0

0

6

8

1,060

0.95

0.97

Jackson

0

0

0

0

2

2

2,582

0.39

0.40

Jefferson

1

7

0

0

6

14

1,380

0.73

0.75

Johnson

0

0

0

0

3

3

2,626

0.38

0.39

Knox

0

42

0

0

21

63

2,721

0.37

0.38

Lake

0

3

0

0

1

4

679

1.48

1.52

Lauderdale

0

5

0

0

3

8

1,320

0.76

0.78

Lawrence

0

2

0

0

4

6

2,804

0.36

0.37

Lewis

0

1

0

0

2

3

1,607

0.62

0.64

Lincoln

0

1

0

0

5

6

2,333

0.43

0.44

Loudon

1

3

0

0

3

7

2,468

0.41

0.42

Macon

0

1

0

0

0

1

8,894

0.11

0.12

Madison

0

16

0

0

14

30

1,274

0.79

0.81

Marion

0

2

0

0

4

6

2,023

0.50

0.51

Marshall

0

3

0

0

9

12

932

1.08

1.11

Maury

0

6

0

0

10

16

1,792

0.56

0.58

McMinn

0

9

0

0

16

25

865

1.16

1.19

McNairy

0

3

0

0

6

9

1,247

0.80

0.83

Meigs

0

1

0

0

1

2

2,594

0.39

0.40

Monroe

0

6

0

0

2

8

2,161

0.46

0.48

Montgomery

0

27

0

0

18

45

1,159

0.87

0.89

Moore

0

0

0

0

1

1

2,515

0.40

0.41

Morgan

0

1

0

0

2

3

2,571

0.39

0.40

Obion

0

3

0

0

0

3

4,830

0.21

0.21

Overton

0

1

0

0

1

2

4,584

0.22

0.23

Polk

1

1

0

0

1

3

2,456

0.41

0.42

Putnam

0

4

0

0

6

10

2,992

0.34

0.34

Rhea

0

6

0

0

3

9

1,396

0.72

0.74

Roane

0

3

0

0

11

14

1,669

0.60

0.62

Robertson

0

8

0

0

7

15

1,400

0.72

0.74

Rutherford

2

30

0

0

33

65

1,086

0.92

0.95

Scott

0

2

0

0

0

2

4,455

0.23

0.23

Sequatchie

0

0

0

0

1

1

4,916

0.20

0.21

Sevier

0

9

0

0

6

15

2,483

0.40

0.42

Shelby

7

876

0

0

402

1,285

282

3.55

3.66

Smith

0

2

0

0

4

6

1,278

0.79

0.81

Stewart

0

0

0

0

1

1

5,977

0.17

0.17

Sullivan

0

11

0

0

0

11

6,277

0.16

0.16

Sumner

0

27

0

0

0

27

2,284

0.44

0.45

Tipton

1

10

0

0

7

18

1,059

0.95

0.97

Trousdale

0

0

0

0

1

1

3,095

0.32

0.33

Unicoi

0

1

0

0

0

1

8,214

0.12

0.13

Union

1

0

0

0

5

6

1,319

0.76

0.78

Warren

0

3

0

0

3

6

2,782

0.36

0.37

Washington

1

8

0

0

7

16

2,986

0.34

0.35

Weakley

0

2

0

0

6

8

1,866

0.54

0.55

White

0

1

0

0

3

4

2,548

0.39

0.40

Williamson

0

13

0

0

4

17

2,765

0.36

0.37

Wilson

0

7

0

0

12

19

1,838

0.55

0.56

 

 

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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