VERMONT REPORTS COUNTRY’S FEWEST FORECLOSURES IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State Also Holds Lowest Foreclosure Rate for Third Straight Month

 

IRVINE, Calif. – Oct. 11, 2006 – Vermont reported only two properties entering some stage of the foreclosure process in September, the fewest number of foreclosures reported by any state, 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.

 

Vermont has reported only two properties entering some stage of the foreclosure process during all of quarter three,” said James J. Saccacio, chief executive officer of RealtyTrac. “No other state has reported such low numbers for this length of time during 2006.”

 

The state’s foreclosure rate of one new foreclosure filing for every 147,191 households — less than 1 percent of the national average — ranks it the lowest among the 50 states for the third straight month.

 

Two counties account for state total

Chittenden County and Windham County accounted for all foreclosures in the state of Vermont for September, each reporting one property entering some stage of the foreclosure process. 

 

Highest foreclosure rate reported in Chittenden County

Windham County posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 27,039 households — 5.4 times the state average. Reporting one new foreclosure filing for every 58,864 households — 2.5 times the state average — Chittenden County had the second highest foreclosure rate in the state.

 

State has minor impact on national total

Vermont’s foreclosure activity accounted for less than 1 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).

 

  

                      Vermont 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

Vermont

1

1

0

0

0

2

147,191

0.07

 

 

 

 

 

 

 

 

 

 

Chittenden

0

1

0

0

0

1

58,864

0.02

2.50

Orleans

0

0

0

0

0

0

0.00

0.00

Rutland

0

0

0

0

0

0

0.00

0.00

Windham

1

0

0

0

0

1

27,039

0.04

5.44

 

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.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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