VERMONT POSTS NATION’S LOWEST FORECLOSURE RATE IN APRIL

Foreclosures Down 40 Percent From Last Month; 57 Percent From Last Year

State Also Documents Fewest Foreclosures of Any State

 

IRVINE, Calif. – May 31, 2006 – Vermont reported just three properties entering some stage of foreclosure in April, a foreclosure rate of one foreclosure filing for every 98,127 households (one percent of the national average), the lowest rate and the fewest foreclosure filings in the nation, according to RealtyTrac’s April 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“Because Vermont has extremely low unemployment rate and healthy home price appreciation, homeowners in the state are not at high risk for defaulting on their mortgage payments and falling into foreclosure,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

The state’s foreclosure activity in April represented a 40 percent decline from the previous month and a 57 percent drop from the 7 foreclosures reported in April 2005.

 

With two properties entering some stage of foreclosure, Franklin County accounted for the majority of the state’s foreclosure filings in April. The county’s foreclosure rate of one foreclosure filing for every 9,596 households was more than 10 times the state average but well below the national average.

 

Nationwide a total of 91,168 properties entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent year-over-year increase from April 2005. This marked the second straight month of decreasing U.S. foreclosure activity. At one foreclosure filing for every 1,268 households, the national foreclosure rate for April was higher than for any month in 2005.

 

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).

 

 

                      Vermont Foreclosure Market By County — April 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

21,244

38,238

2,833

9,071

19,782

91,168

1,268

Vermont

0

3

0

0

0

3

98127

0.01

 

 

 

 

 

 

 

 

 

 

Chittenden

0

0

0

0

0

0

— 

0.00

0.00

Franklin

0

2

0

0

0

2

9,596

0.13

10.23

Washington

0

1

0

0

0

1

27,644

0.05

3.55

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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