VIRGINIA FORECLOSURES DECREASE 6 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 77 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 11, 2006 – Virginia reported 400 properties entering some stage of the foreclosure process, a 6 percent drop from the 425 properties reported in August, but still a 77 percent increase from the 226 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.

 

“Although Virginia’s foreclosure activity is still up compared to last year, the state is seeing some improvement,” said James J. Saccacio, chief executive officer of RealtyTrac. “Virginia’s employment growth remains above the national average and increasingly strong demand for real estate loans supports the state’s revenue growth.”

 

Virginia ranked 31st in the country in total foreclosures reported for September. The state’s foreclosure rate of one new foreclosure filing for every 7,216 households — well below the national average — ranks it in the bottom 10 nationwide.

 

Prince William County tops in foreclosure activity

Prince William County had the largest share of foreclosures in September, reporting 88 properties entering some stage of the foreclosure process during the month. Fairfax County had the second highest total, reporting 75 properties entering some stage of foreclosure. Third highest was Loudoun County, reporting 58 properties in foreclosure.

 

Highest foreclosure rate reported in Loudoun County

Loudoun County posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 1,072 households — 6.7 times the state average and slightly below the national average. Reporting one new foreclosure filing for every 1,119 households — 6.5 times the state average and just below the national average — Prince William County had the second highest foreclosure rate in the state.

 

Virginia has minor impact on national total

Virginia’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).

 

    

                            Virginia 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

Virginia

2

314

0

0

84

400

7,216

0.14

 

 

 

 

 

 

 

 

 

 

Accomack

0

0

0

0

0

0

0.00

0.00

Albemarle

0

0

0

0

0

0

0.00

0.00

Alexandria City

0

7

0

0

0

7

9,179

0.11

0.79

Amelia

0

0

0

0

0

0

0.00

0.00

Amherst

0

1

0

0

0

1

12,958

0.08

0.56

Appomattox

0

0

0

0

0

0

0.00

0.00

Arlington

0

5

0

0

1

6

15,071

0.07

0.48

Augusta

0

0

0

0

0

0

0.00

0.00

Bedford

0

1

0

0

0

1

26,841

0.04

0.27

Botetourt

0

2

0

0

0

2

6,286

0.16

1.15

Buckingham

0

1

0

0

0

1

6,290

0.16

1.15

Campbell

1

0

0

0

0

1

22,088

0.05

0.33

Caroline

0

1

0

0

0

1

8,889

0.12

0.81

Carroll

0

0

0

0

0

0

0.00

0.00

Charlotte

0

0

0

0

0

0

0.00

0.00

Charlottesville City

0

1

0

0

0

1

17,591

0.06

0.41

Chesapeake City

0

11

0

0

0

11

6,607

0.16

1.09

Chesterfield

0

6

0

0

0

6

16,285

0.06

0.44

Clarke

0

0

0

0

0

0

0.00

0.00

Colonial Heights City

0

0

0

0

0

0

0.00

0.00

Craig

0

0

0

0

0

0

0.00

0.00

Culpeper

0

0

0

0

1

1

12,871

0.08

0.56

Danville City

0

3

0

0

0

3

7,703

0.13

0.94

Dickenson

0

0

0

0

1

1

7,684

0.13

0.94

Dinwiddie

0

2

0

0

0

2

4,854

0.21

1.49

Essex

0

1

0

0

0

1

4,926

0.21

1.46

Fairfax

0

60

0

0

15

75

4,792

0.22

1.51

Fairfax City

0

2

0

0

1

3

2,735

0.38

2.64

Fauquier

0

3

0

0

0

3

7,015

0.15

1.03

Floyd

0

0

0

0

0

0

0.00

0.00

Franklin

0

0

0

0

0

0

0.00

0.00

Franklin City

0

0

0

0

0

0

0.00

0.00

Frederick

0

1

0

0

0

1

23,319

0.04

0.31

Fredericksburg City

0

1

0

0

0

1

8,888

0.12

0.81

Galax City

0

0

0

0

0

0

0.00

0.00

Giles

0

0

0

0

0

0

0.00

0.00

Gloucester

0

0

0

0

0

0

0.00

0.00

Goochland

0

0

0

0

0

0

0.00

0.00

Grayson

0

0

0

0

0

0

0.00

0.00

Halifax

0

2

0

0

0

2

8,477

0.12

0.85

Hampton City

0

1

0

0

0

1

57,311

0.02

0.13

Hanover

0

0

0

0

0

0

0.00

0.00

Harrisonburg City

0

0

0

0

0

0

0.00

0.00

Henrico

0

5

0

0

0

5

22,514

0.05

0.32

Henry

0

3

0

0

0

3

8,640

0.12

0.84

Hopewell City

0

1

0

0

0

1

9,749

0.11

0.74

Isle Of Wight

0

3

0

0

0

3

4,022

0.26

1.79

James City

0

0

0

0

0

0

0.00

0.00

King And queen

0

0

0

0

0

0

0.00

0.00

King George

0

0

0

0

0

0

0.00

0.00

King William

0

0

0

0

0

0

0.00

0.00

Lancaster

0

0

0

0

0

0

0.00

0.00

Loudoun

0

41

0

0

17

58

1,072

0.96

6.73

Louisa

0

0

0

0

0

0

0.00

0.00

Lunenburg

0

1

0

0

0

1

5,189

0.20

1.39

Lynchburg City

0

0

0

0

0

0

0.00

0.00

Manassas City

0

6

0

0

0

6

2,019

0.51

3.57

Manassas Park City

0

1

0

0

2

3

1,122

0.92

6.43

Mathews

0

0

0

0

0

0

0.00

0.00

Mecklenburg

0

0

0

0

0

0

0.00

0.00

Middlesex

0

0

0

0

0

0

0.00

0.00

Montgomery

0

1

0

0

0

1

32,527

0.03

0.22

Nelson

0

0

0

0

0

0

0.00

0.00

New Kent

0

0

0

0

0

0

0.00

0.00

Newport News City

0

2

0

0

0

2

Norfolk City

0

12

0

0

7

19

4,969

0.21

1.45

Northampton

0

0

0

0

0

0

0.00

0.00

Northumberland

0

0

0

0

0

0

0.00

0.00

Nottoway

0

1

0

0

0

1

6,373

0.16

1.13

Orange

0

3

0

0

0

3

3,785

0.27

1.91

Page

0

0

0

0

0

0

0.00

0.00

Patrick

0

0

0

0

0

0

0.00

0.00

Petersburg City

0

1

0

0

0

1

15,955

0.06

0.45

Pittsylvania

0

0

0

0

0

0

0.00

0.00

Portsmouth City

0

5

0

0

0

5

8,321

0.12

0.87

Powhatan

0

0

0

0

0

0

0.00

0.00

Prince Edward

0

1

0

0

0

1

7,527

0.14

0.96

Prince George

0

0

0

0

0

0

0.00

0.00

Prince William

0

63

0

0

25

88

1,119

0.92

6.45

Pulaski

0

0

0

0

0

0

0.00

0.00

Radford

0

0

0

0

0

0

0.00

0.00

Richmond

0

0

0

0

0

0

0.00

0.00

Richmond City

0

5

0

0

1

6

15,380

0.07

0.47

Roanoke

0

3

0

0

0

3

12,040

0.09

0.60

Roanoke City

0

1

0

0

0

1

45,257

0.02

0.16

Rockingham

0

0

0

0

0

0

0.00

0.00

Salem

0

0

0

0

0

0

0.00

0.00

Scott

0

0

0

0

0

0

0.00

0.00

Shenandoah

0

1

0

0

0

1

16,709

0.06

0.43

Smyth

0

0

0

0

0

0

0.00

0.00

Southampton

0

0

0

0

0

0

0.00

0.00

Spotsylvania

0

12

0

0

0

12

2,777

0.37

2.60

Stafford

0

13

0

0

6

19

1,653

0.62

4.37

Staunton City

0

0

0

0

0

0

0.00

0.00

Suffolk City

0

2

0

0

0

2

12,352

0.08

0.58

Sussex

0

0

0

0

0

0

0.00

0.00

Virginia Beach City

1

15

0

0

6

22

7,376

0.14

0.98

Warren

0

0

0

0

0

0

0.00

0.00

Washington

0

0

0

0

0

0

0.00

0.00

Waynesboro City

0

0

0

0

0

0

0.00

0.00

Westmoreland

0

0

0

0

0

0

0.00

0.00

Winchester City

0

0

0

0

0

0

0.00

0.00

Wise

0

0

0

0

1

1

17,792

0.06

0.41

Wythe

0

0

0

0

0

0

0.00

0.00

York

0

0

0

0

0

0

0.00

0.00

 

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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