TENNESSEE FORECLOSURES INCREASE 16 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 28 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 11, 2006 – Tennessee reported 2,757 properties entering some stage of the foreclosure process, a 16 percent gain from the 2,372 properties reported in August, and a 28 percent increase from the 2,153 properties reported for the same month last year, according to the RealtyTrac™ September 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.

 

“Job growth has slowed in Tennessee, possibly contributing to the increase in foreclosure activity within the state,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, credit quality is improving across most loan types in Tennessee and the state’s median past-due ratio recently hit a record low.”

 

Tennessee ranked 14th in the country in total foreclosures reported for September. The state’s foreclosure rate of one new foreclosure filing for every 889 households — just above the national average — ranks it 13th among the 50 states.

 

Shelby County tops in foreclosure activity

Shelby County had the largest share of foreclosure activity in the state for September, reporting 1,262 properties entering some stage of the foreclosure process. Davidson County had the second highest total, reporting 222 properties entering some stage of foreclosure. Third highest was Knox County, reporting 129 properties in the foreclosure pipeline.

 

Highest foreclosure rate reported in Shelby County

Shelby County also posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 287 households — 3.1 times the state average and 3.6 times the national average. Reporting one new foreclosure filing for every 523 households — 1.7 times the state average and twice the national average — Madison County had the second highest foreclosure rate in the state. Morgan County had the third highest rate in the state, reporting one new filing for every 593 households.

 

Tennessee makes contribution to national total

Tennessee’s foreclosure activity accounted for 2.5 percent of the 112,210 properties entering some stage of foreclosure nationwide in September. The national total represents an almost 1 percent decrease in activity from the 113,300 foreclosures reported in August. The national foreclosure rate increased to one new foreclosure filing for every 1,030 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 – September 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

25,379

43,840

6,285

19,338

17,368

112,210

1,030

Tennessee

273

1,575

0

0

909

2,757

889

1.16

 

 

 

 

 

 

 

 

 

 

Anderson

2

5

0

0

9

16

2,028

0.51

0.44

Bedford

3

10

0

0

8

21

714

1.44

1.25

Benton

0

2

0

0

2

4

2,149

0.48

0.41

Bledsoe

0

0

0

0

1

1

5,142

0.20

0.17

Blount

0

13

0

0

0

13

3,620

0.28

0.25

Bradley

4

8

0

0

12

24

1,534

0.67

0.58

Campbell

1

8

0

0

6

15

1,235

0.83

0.72

Cannon

1

2

0

0

1

4

1,355

0.76

0.66

Carroll

2

3

0

0

4

9

1,451

0.71

0.61

Carter

3

3

0

0

1

7

3,703

0.28

0.24

Cheatham

0

7

0

0

3

10

1,351

0.76

0.66

Chester

0

0

0

0

1

1

6,178

0.17

0.14

Claiborne

0

3

0

0

3

6

2,210

0.47

0.40

Clay

1

0

0

0

0

1

3,959

0.26

0.22

Cocke

0

3

0

0

9

12

1,320

0.78

0.67

Coffee

1

7

0

0

2

10

2,075

0.50

0.43

Crockett

0

1

0

0

1

2

3,069

0.34

0.29

Cumberland

1

4

0

0

8

13

1,726

0.60

0.52

Davidson

27

99

0

0

96

222

1,140

0.90

0.78

Decatur

0

0

0

0

3

3

2,149

0.48

0.41

Dekalb

0

3

0

0

0

3

2,803

0.37

0.32

Dickson

0

9

0

0

3

12

1,468

0.70

0.61

Dyer

2

8

0

0

4

14

1,152

0.89

0.77

Fayette

2

4

0

0

6

12

935

1.10

0.95

Fentress

1

0

0

0

1

2

3,799

0.27

0.23

Franklin

1

6

0

0

3

10

1,681

0.61

0.53

Gibson

2

12

0

0

10

24

877

1.17

1.01

Giles

0

1

0

0

3

4

3,278

0.31

0.27

Grainger

1

2

0

0

1

4

2,433

0.42

0.37

Greene

2

4

0

0

10

16

1,757

0.59

0.51

Hamblen

0

9

0

0

9

18

1,372

0.75

0.65

Hamilton

1

52

0

0

26

79

1,705

0.60

0.52

Hancock

0

1

0

0

0

1

3,280

0.31

0.27

Hardeman

1

5

0

0

3

9

1,188

0.87

0.75

Hardin

0

2

0

0

5

7

1,830

0.56

0.49

Hawkins

2

5

0

0

11

18

1,356

0.76

0.66

Haywood

0

4

0

0

0

4

2,022

0.51

0.44

Henderson

0

3

0

0

4

7

1,635

0.63

0.54

Henry

0

2

0

0

6

8

1,973

0.52

0.45

Hickman

2

7

0

0

5

14

636

1.62

1.40

Humphreys

3

5

0

0

4

12

707

1.46

1.26

Jackson

0

0

0

0

1

1

5,163

0.20

0.17

Jefferson

3

2

0

0

5

10

1,932

0.53

0.46

Johnson

0

0

0

0

1

1

7,879

0.13

0.11

Knox

4

71

0

0

54

129

1,329

0.78

0.67

Lake

1

0

0

0

2

3

905

1.14

0.98

Lauderdale

1

7

0

0

7

15

704

1.46

1.26

Lawrence

0

1

0

0

5

6

2,804

0.37

0.32

Lewis

0

2

0

0

0

2

2,411

0.43

0.37

Lincoln

1

4

0

0

7

12

1,167

0.88

0.76

Loudon

1

5

0

0

5

11

1,571

0.66

0.57

Macon

0

0

0

0

1

1

8,894

0.12

0.10

Madison

10

28

0

0

35

73

523

1.97

1.70

Marion

1

4

0

0

2

7

1,734

0.59

0.51

Marshall

1

7

0

0

5

13

860

1.20

1.03

Maury

3

9

0

0

14

26

1,103

0.93

0.81

Mcminn

2

5

0

0

10

17

1,272

0.81

0.70

Mcnairy

0

8

0

0

6

14

801

1.29

1.11

Meigs

0

1

0

0

2

3

1,729

0.60

0.51

Monroe

0

6

0

0

5

11

1,572

0.66

0.57

Montgomery

3

34

0

0

20

57

915

1.13

0.97

Morgan

0

3

0

0

10

13

593

1.74

1.50

Obion

0

6

0

0

0

6

2,415

0.43

0.37

Overton

0

2

0

0

1

3

3,056

0.34

0.29

Perry

0

0

0

0

1

1

4,115

0.25

0.22

Polk

0

0

0

0

3

3

2,456

0.42

0.36

Putnam

1

7

0

0

7

15

1,994

0.52

0.45

Rhea

0

4

0

0

4

8

1,571

0.66

0.57

Roane

3

6

0

0

13

22

1,062

0.97

0.84

Robertson

3

5

0

0

11

19

1,105

0.93

0.80

Rutherford

4

42

0

0

20

66

1,070

0.96

0.83

Sequatchie

0

0

0

0

2

2

2,458

0.42

0.36

Sevier

6

12

0

0

7

25

1,490

0.69

0.60

Shelby

136

867

0

0

259

1,262

287

3.59

3.10

Smith

1

1

0

0

3

5

1,533

0.67

0.58

Stewart

1

2

0

0

3

6

996

1.03

0.89

Sullivan

0

18

0

0

0

18

3,836

0.27

0.23

Sumner

5

16

0

0

40

61

1,011

1.02

0.88

Tipton

1

20

0

0

8

29

657

1.57

1.35

Unicoi

1

0

0

0

2

3

2,738

0.38

0.32

Union

0

2

0

0

4

6

1,319

0.78

0.67

Warren

1

8

0

0

6

15

1,113

0.93

0.80

Washington

2

8

0

0

12

22

2,172

0.47

0.41

Wayne

1

0

0

0

2

3

2,234

0.46

0.40

Weakley

0

4

0

0

3

7

2,133

0.48

0.42

White

1

2

0

0

4

7

1,456

0.71

0.61

Williamson

7

7

0

0

4

18

2,611

0.39

0.34

Wilson

2

17

0

0

9

28

1,247

0.83

0.71

 

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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