VIRGINIA FORECLOSURES DOWN 36 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Up 8 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Virginia reported 298 properties entering some stage of the foreclosure process in November, down 36 percent from the 464 properties reported in October, but still an 8 percent increase from the 275 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

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.

 

“Although Virginia foreclosures decreased significantly in November, the numbers are still up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that home sales fell 24 percent this year and that home price appreciation has eased. These factors are likely contributing to the overall rise in foreclosures.”

 

Virginia ranked 35th in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 9,685 households ranked 42nd among the 50 states.

 

Loudoun County accounts for largest share of state total

Loudoun County reported the largest share of Virginia’s foreclosure activity in November with 42 properties entering some stage of the foreclosure process during the month. Prince William County reported the second highest total, with 39 properties in some stage of foreclosure. Third highest was Virginia Beach City which reported 32 properties entering foreclosure. 

 

State’s top foreclosure rate found in Loudoun County

The state’s highest foreclosure rate for November was posted in Loudoun County with one new foreclosure filing for every 1,480 households — 6.5 times the state average. Manassas Park City reported the second highest foreclosure rate with one new foreclosure filing for every 1,683 households — 5.8 times the state average. Stafford County documented the third highest foreclosure rate, with one new foreclosure filing for every 2,243 households — 4.3 times the state average.

 

State makes minor contribution to national total

Virginia’s foreclosure activity accounted for less than 1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 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.

 

                      Virginia Foreclosure Market by County – November 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Virginia

8

193

0

0

97

298

9,685

0.10

n/a

 

 

 

 

 

 

 

 

 

 

Alexandria City

0

0

0

0

1

1

 

64,251

 

0.01

 

0.15

Amelia

0

0

0

0

0

0

n/a 

0.00

0.00

Amherst

0

0

0

0

0

0

n/a 

0.00

0.00

Appomattox

0

0

0

0

0

0

n/a 

0.00

0.00

Arlington

0

0

0

0

1

1

90,426

0.01

0.11

Augusta

0

0

0

0

0

0

n/a 

0.00

0.00

Bedford

0

0

0

0

0

0

n/a 

0.00

0.00

Botetourt

0

0

0

0

0

0

 n/a

0.00

0.00

Bristol

0

1

0

0

0

1

8,469

0.11

1.14

Brunswick

0

1

0

0

0

1

7,541

0.13

1.28

Buena Vista City

0

0

0

0

0

0

 

  n/a

 

0.00

 

0.00

Campbell

0

0

0

0

0

0

n/a

0.00

0.00

Caroline

0

0

0

0

0

0

 n/a

0.00

0.00

Carroll

0

0

0

0

0

0

 n/a

0.00

0.00

Charlottesville City

1

1

0

0

0

2

 

8,796

 

0.11

 

1.10

Chesapeake City

1

22

0

0

2

25

 

2,907

 

0.33

 

3.33

Chesterfield

1

4

0

0

0

5

 

19,541

 

0.05

 

0.50

Clarke

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Colonial Heights City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Culpeper

0

0

0

0

4

4

 

3,218

 

0.30

 

3.01

Danville City

0

1

0

0

2

3

 

7,703

 

0.12

 

1.26

Dinwiddie

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Essex

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Fairfax

0

28

0

0

0

28

 

12,836

 

0.07

 

0.75

Fairfax City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Fauquier

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Floyd

0

1

0

0

0

1

 

6,763

 

0.14

 

1.43

Fluvanna

0

1

0

0

0

1

 

8,018

 

0.12

 

1.21

Franklin

0

1

0

0

0

1

 

22,717

 

0.04

 

0.43

Franklin City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Frederick

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Fredericksburg City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Giles

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Gloucester

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Goochland

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Greensville

0

1

0

0

0

1

 

3,765

 

0.26

 

2.57

Halifax

0

3

0

0

0

3

 

5,651

 

0.17

 

1.71

Hampton City

1

1

0

0

0

2

 

28,656

 

0.03

 

0.34

Hanover

0

3

0

0

0

3

 

7,065

 

0.14

 

1.37

Harrisonburg City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Henrico

0

10

0

0

0

10

 

11,257

 

0.09

 

0.86

Henry

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Hopewell City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Isle of Wight

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

James City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

King and Queen

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

King William

0

1

0

0

0

1

 

5,189

 

0.19

 

1.87

Lancaster

0

2

0

0

0

2

 

3,249

 

0.30

 

2.98

Lee

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Loudoun

0

10

0

0

32

42

 

1,480

 

0.65

 

6.54

Louisa

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Lunenburg

0

1

0

0

0

1

 

5,189

 

0.19

 

1.87

Lynchburg City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Manassas City

0

3

0

0

0

3

 

4,038

 

0.24

 

2.40

Manassas Park City

0

2

0

0

0

2

 

1,683

 

0.57

 

5.76

Martinsville City

0

1

0

0

0

1

 

7,249

 

0.13

 

1.34

Mathews

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Mecklenburg

0

1

0

0

0

1

 

17,403

 

0.06

 

0.56

Middlesex

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Montgomery

1

2

0

0

0

3

 

10,842

 

0.09

 

0.89

Nelson

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

New Kent

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Newport News City

0

3

0

0

1

4

 

n/a 

 

n/a 

 

n/a 

Norfolk City

1

15

0

0

12

28

 

3,372

 

0.28

 

2.87

Northampton

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Nottoway

0

1

0

0

0

1

 

6,373

 

0.15

 

1.52

Orange

0

1

0

0

0

1

 

11,354

 

0.08

 

0.85

Page

0

1

0

0

0

1

 

10,557

 

0.09

 

0.92

Patrick

0

1

0

0

0

1

 

9,823

 

0.10

 

0.99

Petersburg City

0

1

0

0

0

1

 

15,955

 

0.06

 

0.61

Pittsylvania

0

1

0

0

0

1

 

28,011

 

0.03

 

0.35

Poquoson City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Portsmouth City

0

5

0

0

0

5

 

8,321

 

0.12

 

1.16

Powhatan

0

1

0

0

0

1

 

7,509

 

0.13

 

1.29

Prince Edward

0

2

0

0

0

2

 

3,764

 

0.26

 

2.57

Prince George

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Prince William

0

10

0

0

29

39

 

2,526

 

0.38

 

3.83

Pulaski

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Richmond

0

1

0

0

0

1

 

3,512

 

0.27

 

2.76

Richmond City

1

2

0

0

0

3

 

30,761

 

0.03

 

0.31

Roanoke

0

3

0

0

0

3

 

12,040

 

0.08

 

0.80

Roanoke City

0

1

0

0

0

1

 

45,257

 

0.02

 

0.21

Rockbridge

0

1

0

0

0

1

 

9,550

 

0.10

 

1.01

Rockingham

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Salem

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Scott

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Shenandoah

0

1

0

0

0

1

 

16,709

 

0.06

 

0.58

Southampton

0

1

0

0

0

1

 

7,058

 

0.14

 

1.37

Spotsylvania

0

3

0

0

0

3

 

11,110

 

0.09

 

0.87

Stafford

0

11

0

0

3

14

 

2,243

 

0.43

 

4.32

Staunton City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Suffolk City

0

2

0

0

0

2

 

12,352

 

0.08

 

0.78

Surry

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Sussex

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Tazewell

0

1

0

0

0

1

 

20,390

 

0.05

 

0.48

Virginia Beach City

1

21

0

0

10

32

 

5,071

 

0.19

 

1.91

Warren

0

0

0

0

0

0

n/a 

0.00

0.00

Washington

0

1

0

0

0

1

 

22,985

 

0.04

 

0.42

Waynesboro City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

Winchester City

0

0

0

0

0

0

 

n/a 

 

0.00

 

0.00

York

0

0

0

0

0

0

n/a 

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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