VIRGINIA FORECLOSURES INCREASE 10 PERCENT IN APRIL

Market Activity Almost Double From Last Year

Fairfax County Posts State’s Highest Foreclosure Rate

 

IRVINE, Calif. – May 31, 2006 – Virginia reported 294 properties entering some stage of foreclosure in April, a 10 percent increase from the previous month and a 96 percent increase from THE 150 foreclosures reported in April 2005, 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.

 

“Although this increase in foreclosures could portend a slight downturn in Virginia‘s housing market, strong job growth and record home price appreciation have helped the state maintain a low foreclosure rate,” said James J. Saccacio, chief executive officer for RealtyTrac.

 

With one foreclosure filing for every 9,817 households (13 percent of the national average), Virginia‘s foreclosure rate was among the 15 lowest in the country. Overall, the state total accounted for 0.3 percent of the nation’s foreclosures in April, with 31 states reporting more foreclosures filings during the month.

 

Fairfax County reported 52 properties entering some stage of foreclosure, the most of any county in Virginia. The county’s foreclosure rate of one foreclosure filing for every 6,912 households was 1.4 times the state average but still well below the national average.

 

With one foreclosure filing for every 1,756 households, Richmond County registered the state’s highest foreclosure rate for the month, 5.6 times the state average. The county reported two properties entering some stage of foreclosure.

 

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).

 

                              Virginia 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

Virginia

1

217

0

0

76

294

9,817

0.13

 

 

 

 

 

 

 

 

 

 

Albemarle

0

0

0

0

0

0

— 

0.00

0.00

Alexandria City

0

1

0

0

0

1

64,251

0.02

0.15

Alleghany

0

0

0

0

2

2

2,906

0.44

3.38

Amherst

0

0

0

0

1

1

12,958

0.10

0.76

Arlington

0

2

0

0

1

3

30,142

0.04

0.33

Augusta

0

0

0

0

1

1

26,738

0.05

0.37

Bedford

0

0

0

0

3

3

8,947

0.14

1.10

Botetourt

0

2

0

0

0

2

6,286

0.20

1.56

Bristol

0

1

0

0

1

2

4,235

0.30

2.32

Brunswick

0

1

0

0

0

1

7,541

0.17

1.30

Buckingham

0

1

0

0

0

1

6,290

0.20

1.56

Campbell

0

1

0

0

1

2

11,044

0.11

0.89

Caroline

0

3

0

0

0

3

2,963

0.43

3.31

Carroll

0

1

0

0

0

1

14,680

0.09

0.67

Charlottesville City

0

0

0

0

0

0

 

0.00

0.00

Chesapeake City

0

5

0

0

0

5

14,534

0.09

0.68

Chesterfield

0

4

0

0

2

6

16,285

0.08

0.60

Clarke

0

0

0

0

0

0

— 

0.00

0.00

Colonial Heights City

0

1

0

0

1

2

3,670

0.35

2.67

Covington City

0

0

0

0

1

1

3,195

0.40

3.07

Culpeper

0

1

0

0

1

2

6,436

0.20

1.53

Danville City

0

0

0

0

2

2

11,554

0.11

0.85

Dinwiddie

0

0

0

0

3

3

3,236

0.39

3.03

Fairfax

0

49

0

0

3

52

6,912

0.18

1.42

Fairfax City

0

2

0

0

0

2

4,102

0.31

2.39

Fauquier

0

1

0

0

0

1

21,046

0.06

0.47

Floyd

0

0

0

0

2

2

3,382

0.38

2.90

Fluvanna

0

0

0

0

0

0

— 

0.00

0.00

Franklin

0

0

0

0

0

0

— 

0.00

0.00

Frederick

0

2

0

0

0

2

11,660

0.11

0.84

Fredericksburg City

0

1

0

0

0

1

8,888

0.14

1.10

Gloucester

0

0

0

0

0

0

— 

0.00

0.00

Grayson

0

1

0

0

1

2

4,562

0.28

2.15

Greensville

0

0

0

0

2

2

1,883

0.67

5.21

Halifax

0

1

0

0

1

2

8,477

0.15

1.16

Hampton City

0

4

0

0

0

4

14,328

0.09

0.69

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

2

7

16,081

0.08

0.61

Henry

0

2

0

0

6

8

3,240

0.39

3.03

Hopewell City

0

0

0

0

1

1

9,749

0.13

1.01

Isle Of wight

0

0

0

0

0

0

— 

0.00

0.00

James City

0

0

0

0

0

0

— 

0.00

0.00

King William

0

2

0

0

0

2

2,595

0.49

3.78

Lancaster

0

2

0

0

0

2

3,249

0.39

3.02

Lee

0

0

0

0

1

1

11,086

0.11

0.89

Loudoun

0

15

0

0

2

17

3,656

0.35

2.68

Louisa

0

0

0

0

0

0

— 

0.00

0.00

Lynchburg City

0

0

0

0

2

2

13,820

0.09

0.71

Manassas City

0

2

0

0

0

2

6,057

0.21

1.62

Martinsville City

0

2

0

0

0

2

3,625

0.35

2.71

Montgomery

0

0

0

0

0

0

 —

0.00

0.00

Nelson

0

2

0

0

0

2

4,277

0.30

2.30

Newport News city

0

1

0

0

1

2

— 

 

 

Norfolk City

0

11

0

0

9

20

4,721

0.27

2.08

Nottoway

0

1

0

0

0

1

6,373

0.20

1.54

Orange

0

2

0

0

1

3

3,785

0.34

2.59

Page

0

1

0

0

0

1

10,557

0.12

0.93

Patrick

0

0

0

0

1

1

9,823

0.13

1.00

Petersburg City

0

3

0

0

1

4

3,989

0.32

2.46

Pittsylvania

0

1

0

0

2

3

9,337

0.14

1.05

Poquoson City

0

0

0

0

0

0

— 

0.00

0.00

Portsmouth City

0

5

0

0

1

6

6,934

0.18

1.42

Powhatan

0

0

0

0

0

0

— 

0.00

0.00

Prince Edward

0

1

0

0

0

1

7,527

0.17

1.30

Prince William

0

32

0

0

2

34

2,897

0.44

3.39

Pulaski

0

1

0

0

2

3

5,442

0.23

1.80

Radford

0

0

0

0

1

1

6,137

0.21

1.60

Richmond

0

2

0

0

0

2

1,756

0.72

5.59

Richmond City

0

2

0

0

4

6

15,380

0.08

0.64

Roanoke

0

2

0

0

0

2

18,061

0.07

0.54

Roanoke City

1

1

0

0

1

3

15,086

0.08

0.65

Rockingham

0

1

0

0

0

1

27,328

0.05

0.36

Russell

0

1

0

0

0

1

13,191

0.10

0.74

Salem

0

0

0

0

0

0

— 

0.00

0.00

Shenandoah

0

0

0

0

0

0

— 

0.00

0.00

Smyth

0

1

0

0

0

1

15,111

0.08

0.65

Southampton

0

0

0

0

0

0

— 

0.00

0.00

Spotsylvania

0

4

0

0

0

4

8,332

0.15

1.18

Stafford

0

10

0

0

0

10

3,141

0.40

3.13

Staunton City

0

1

0

0

0

1

10,427

0.12

0.94

Suffolk City

0

3

0

0

0

3

8,235

0.15

1.19

Virginia Beach City

0

9

0

0

4

13

12,483

0.10

0.79

Warren

0

1

0

0

0

1

13,299

0.10

0.74

Waynesboro City

0

0

0

0

1

1

8,863

0.14

1.11

Westmoreland

0

1

0

0

0

1

9,286

0.14

1.06

Williamsburg City

0

0

0

0

0

0

— 

0.00

0.00

Winchester City

0

1

0

0

0

1

10,587

0.12

0.93

Wise

0

1

0

0

0

1

17,792

0.07

0.55

Wythe

0

0

0

0

2

2

6,372

0.20

1.54

York

0

0

0

0

0

0

— 

0.00

0.00

 

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.

 

###

 

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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