TEXAS FORECLOSURE TOTAL LEADS NATION IN DECEMBER

State Activity Up 4 Percent; Foreclosure Rate in Top 5

 

IRVINE, Calif. – Jan. 15, 2007 – After four months out of the limelight, Texas ended 2006 the way it started the year, leading the nation in total foreclosure activity. The Lone Star state reported 14,195 properties entering some stage of the foreclosure process in December, a 4 percent uptick from November, and an 11 percent increase from the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report. Reporting one new foreclosure filing for every 567 households, the state had the 5th highest foreclosure rate in the nation.

 

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.

 

Texas led the nation in total foreclosures for the first eight months of 2006. Between August and November things were looking better as activity cooled off there and heated up in Florida and California,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, foreclosures are a lagging indicator, so this latest surge shows that some individual homeowners are still having financial problems from rising debt and escalating mortgage payments on risky adjustable-rate mortgages.”

 

Texas jumped back into first place in December, replacing California at the lead of the pack by more than 1,500 foreclosures for the month. After leading the nation in total foreclosures between September and November, California dropped back to second place, reporting 12,623 foreclosures for the month. Florida came in third highest, reporting 8,321 properties in foreclosure. Completing the nation’s top 10 foreclosure totals were Ohio, Illinois, Michigan, Georgia, Colorado, Massachusetts and New York.

 

Dallas real estate agent Jon Callaway, a member of the RealtyTrac Agent Network™, said that although the area’s foreclosure rate is high, lowering interest rates and discounts from home builders are spurring increased activity in the market.

 

“The market is still doing a pretty good job soaking up this extra inventory,” Callaway said. “I believe these lower rates will help us in the Dallas-Fort Worth area bring first-time homebuyers back in the game. Investor activity is still moving at a respectful level. We are seeing more inner city buys, fix-ups and flips. And there are still great opportunities for discounts with many of the builders around the metroplex.”

 

Four counties account for majority of state’s foreclosure activity

Four counties accounted for 68 percent of all foreclosure activity in Texas during December. Dallas County led the way, reporting 2,879 properties in some stage of the foreclosure process. Tarrant County reported the state’s second highest foreclosure total with 2,786 properties in some stage of foreclosure. Harris County came in third with 2,384 properties in the foreclosure process. Bexar County completed the top four with 1,625 properties in the foreclosure pipeline.

 

Rockwall County posts state’s highest foreclosure rate

Rockwall County documented the highest foreclosure rate in Texas for December — one new foreclosure filing for every 172 households — 3.3 times the state average and 6.1 times the national average. Tarrant County had the second highest rate in the state, reporting one new filing for every 203 households — 2.8 times the state average and 5.2 times the national average. With one new filing for every 259 households, Bexar County reported the state’s third highest foreclosure rate — 2.2 times the state average and 4.1 times the national average. The state’s fourth highest foreclosure rate was documented in Ellis County where one new filing for every 268 households was reported.

 

Texas is largest single contributor to nation’s monthly total

Texas made the most significant contribution of foreclosures in the nation during December, accounting for 13 percent of the 109,652 properties entering some stage of foreclosure nationwide. The national total represents a decrease of 9 percent 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.

 

 

                         Texas 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

Texas

8

10,702

0

0

3,485

14,195

567

1.86

n/a

 

 

 

 

 

 

 

 

 

 

Anderson

0

1

0

0

1

2

9,218

0.11

0.06

Angelina

0

1

0

0

4

5

6,487

0.16

0.09

Aransas

0

0

0

0

0

0

n/a 

0.00

0.00

Armstrong

0

0

0

0

0

0

n/a 

0.00

0.00

Atascosa

0

0

0

0

0

0

n/a 

0.00

0.00

Austin

0

0

0

0

1

1

10,205

0.10

0.06

Bandera

0

2

0

0

0

2

4,752

0.22

0.12

Bastrop

1

34

0

0

5

40

556

1.90

1.02

Bell

0

77

0

0

0

77

1,205

0.88

0.47

Bexar

1

1,200

0

0

424

1,625

259

4.07

2.19

Bosque

0

1

0

0

0

1

8,644

0.12

0.07

Brazoria

0

116

0

0

66

182

498

2.12

1.14

Brazos

0

1

0

0

10

11

5,366

0.20

0.11

Brooks

0

0

0

0

0

0

n/a 

0.00

0.00

Brown

0

0

0

0

1

1

17,889

0.06

0.03

Burnet

0

1

0

0

6

7

2,276

0.46

0.25

Caldwell

0

0

0

0

0

0

n/a 

0.00

0.00

Calhoun

0

1

0

0

1

2

5,119

0.21

0.11

Callahan

0

0

0

0

0

0

n/a 

0.00

0.00

Cameron

0

7

0

0

0

7

17,093

0.06

0.03

Camp

0

1

0

0

0

1

5,228

0.20

0.11

Cass

0

0

0

0

0

0

n/a 

0.00

0.00

Castro

0

0

0

0

0

0

n/a 

0.00

0.00

Chambers

0

0

0

0

6

6

1,723

0.61

0.33

Collin

0

677

0

0

39

716

272

3.87

2.08

Comal

0

60

0

0

0

60

545

1.93

1.04

Cooke

0

0

0

0

0

0

n/a 

0.00

0.00

Coryell

0

4

0

0

0

4

5,444

0.19

0.10

Dallam

0

0

0

0

0

0

n/a 

0.00

0.00

Dallas

0

2,521

0

0

358

2,879

297

3.55

1.91

Deaf Smith

0

0

0

0

0

0

n/a 

0.00

0.00

Delta

0

0

0

0

0

0

n/a 

0.00

0.00

Denton

2

495

0

0

59

556

302

3.49

1.88

Donley

0

0

0

0

0

0

n/a 

0.00

0.00

Eastland

0

0

0

0

0

0

n/a 

0.00

0.00

Ector

0

2

0

0

0

2

24,750

0.04

0.02

El Paso

1

161

0

0

59

221

1,016

1.04

0.56

Ellis

0

145

0

0

1

146

268

3.94

2.12

Falls

0

0

0

0

0

0

n/a 

0.00

0.00

Fannin

0

0

0

0

0

0

n/a 

0.00

0.00

Fayette

0

3

0

0

0

3

3,704

0.28

0.15

Fort Bend

0

304

0

0

117

421

276

3.83

2.06

Freestone

0

0

0

0

0

0

n/a 

0.00

0.00

Frio

0

0

0

0

0

0

n/a 

0.00

0.00

Galveston

0

128

0

0

5

133

840

1.26

0.68

Garza

0

0

0

0

0

0

n/a 

0.00

0.00

Gillespie

0

0

0

0

0

0

n/a 

0.00

0.00

Gray

0

1

0

0

0

1

10,567

0.10

0.05

Grayson

0

1

0

0

41

42

1,150

0.92

0.49

Gregg

0

0

0

0

0

0

n/a 

0.00

0.00

Grimes

0

0

0

0

1

1

9,490

0.11

0.06

Guadalupe

0

7

0

0

11

18

1,866

0.57

0.30

Hamilton

0

0

0

0

0

0

n/a 

0.00

0.00

Hardin

0

0

0

0

0

0

n/a 

0.00

0.00

Harris

0

1,499

0

0

885

2,384

545

1.94

1.04

Harrison

0

0

0

0

5

5

5,254

0.20

0.11

Hays

0

60

0

0

4

64

557

1.89

1.02

Hemphill

0

0

0

0

0

0

n/a 

0.00

0.00

Henderson

0

0

0

0

28

28

1,283

0.82

0.44

Hidalgo

0

9

0

0

0

9

21,406

0.05

0.03

Hill

0

3

0

0

0

3

4,875

0.22

0.12

Hockley

0

1

0

0

0

1

9,148

0.12

0.06

Hood

0

2

0

0

7

9

2,123

0.50

0.27

Hunt

0

1

0

0

0

1

32,490

0.03

0.02

Hutchinson

0

0

0

0

0

0

n/a 

0.00

0.00

Jack

0

0

0

0

0

0

n/a 

0.00

0.00

Jackson

0

0

0

0

0

0

n/a 

0.00

0.00

Jasper

0

0

0

0

0

0

n/a 

0.00

0.00

Jefferson

0

80

0

0

34

114

895

1.18

0.63

Jim Wells

0

1

0

0

0

1

14,819

0.07

0.04

Johnson

0

13

0

0

24

37

1,251

0.84

0.45

Jones

0

0

0

0

0

0

n/a 

0.00

0.00

Kaufman

0

55

0

0

39

94

278

3.79

2.04

Kendall

0

4

0

0

0

4

2,402

0.44

0.24

Kerr

0

0

0

0

0

0

n/a 

0.00

0.00

Kleberg

0

0

0

0

0

0

n/a 

0.00

0.00

Lamb

0

0

0

0

0

0

n/a 

0.00

0.00

Lampasas

0

1

0

0

0

1

7,601

0.14

0.07

Lee

0

0

0

0

0

0

n/a 

0.00

0.00

Liberty

0

2

0

0

0

2

13,180

0.08

0.04

Limestone

0

0

0

0

0

0

n/a 

0.00

0.00

Live Oak

0

0

0

0

0

0

n/a 

0.00

0.00

Llano

0

0

0

0

0

0

n/a 

0.00

0.00

Lubbock

0

6

0

0

0

6

16,766

0.06

0.03

Lynn

0

0

0

0

0

0

n/a 

0.00

0.00

Madison

0

0

0

0

0

0

n/a 

0.00

0.00

Marion

0

0

0

0

0

0

n/a 

0.00

0.00

Matagorda

0

0

0

0

0

0

n/a 

0.00

0.00

Mclennan

0

3

0

0

26

29

2,924

0.36

0.19

Medina

0

8

0

0

0

8

1,853

0.57

0.31

Midland

0

3

0

0

13

16

2,880

0.37

0.20

Milam

0

0

0

0

2

2

5,433

0.19

0.10

Montgomery

0

196

0

0

84

280

403

2.62

1.41

Moore

0

0

0

0

0

0

n/a 

0.00

0.00

Nacogdoches

0

0

0

0

0

0

n/a 

0.00

0.00

Navarro

0

0

0

0

18

18

1,025

1.03

0.55

Newton

0

0

0

0

0

0

n/a 

0.00

0.00

Nueces

0

22

0

0

53

75

1,641

0.64

0.35

Orange

0

2

0

0

22

24

1,449

0.73

0.39

Palo Pinto

0

0

0

0

0

0

n/a 

0.00

0.00

Panola

0

0

0

0

0

0

n/a 

0.00

0.00

Parker

1

1

0

0

15

17

2,005

0.53

0.28

Potter

0

45

0

0

9

54

826

1.28

0.69

Rains

0

0

0

0

0

0

n/a 

0.00

0.00

Randall

0

29

0

0

5

34

1,272

0.83

0.45

Red River

0

0

0

0

0

0

n/a 

0.00

0.00

Refugio

0

1

0

0

0

1

3,669

0.29

0.15

Rockwall

0

71

0

0

18

89

172

6.11

3.29

Rusk

0

1

0

0

0

1

19,867

0.05

0.03

Sabine

0

1

0

0

0

1

7,659

0.14

0.07

San Jacinto

1

1

0

0

0

2

5,760

0.18

0.10

San Patricio

0

0

0

0

2

2

12,432

0.08

0.05

Shackelford

0

0

0

0

0

0

n/a 

0.00

0.00

Smith

0

3

0

0

2

5

14,340

0.07

0.04

Starr

0

0

0

0

0

0

n/a 

0.00

0.00

Swisher

0

0

0

0

0

0

n/a 

0.00

0.00

Tarrant

1

2,025

0

0

760

2,786

203

5.19

2.79

Taylor

0

1

0

0

0

1

52,056

0.02

0.01

Tom Green

0

1

0

0

18

19

2,311

0.46

0.25

Travis

0

462

0

0

107

569

590

1.79

0.96

Trinity

0

0

0

0

0

0

n/a 

0.00

0.00

Tyler

0

0

0

0

0

0

n/a 

0.00

0.00

Upshur

0

0

0

0

0

0

n/a 

0.00

0.00

Val Verde

0

0

0

0

0

0

n/a 

0.00

0.00

Van Zandt

0

1

0

0

3

4

5,224

0.20

0.11

Victoria

0

0

0

0

46

46

716

1.47

0.79

Walker

0

0

0

0

0

0

n/a 

0.00

0.00

Waller

0

1

0

0

0

1

11,995

0.09

0.05

Webb

0

4

0

0

0

4

13,802

0.08

0.04

Wharton

0

0

0

0

0

0

n/a 

0.00

0.00

Wichita

0

1

0

0

0

1

53,304

0.02

0.01

Williamson

0

126

0

0

17

143

632

1.67

0.90

Wilson

0

1

0

0

0

1

12,110

0.09

0.05

Wise

0

3

0

0

19

22

875

1.21

0.65

Wood

0

0

0

0

4

4

4,485

0.24

0.13

 

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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