VIRGINIA FORECLOSURES UP 24 PERCENT IN DECEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Level Down Less Than 1 Percent From a Year Ago

 

IRVINE, Calif. – Jan. 15, 2007 – Virginia reported 369 properties entering some stage of the foreclosure process in December, a 24 percent increase from the 298 properties reported in November, and down less than 1 percent from the 371 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 increased in December, the state still holds one of the lowest foreclosure rates nationwide,” said James J. Saccacio, chief executive officer of RealtyTrac. “Recent statistics show that the state’s home price appreciation rate is above that national average and that the job market remains strong. These factors are contributing to its low foreclosure numbers.”

 

Virginia ranked 30th in the country in total foreclosures reported for December. The state’s foreclosure rate of one new foreclosure filing for every 7,822 households ranks it 41st among the 50 states.

 

Prince William County accounts for largest share of state total

Prince William County led the state for the month in total foreclosures, reporting 58 properties entering some stage of the foreclosure process. Virginia Beach City had the second highest total, with 34 properties entering some stage of the foreclosure process. Loudoun County held the third highest total, reporting 31 properties in the foreclosure pipeline.

 

Manassas City posts state’s top foreclosure rate

Manassas City posted the state’s highest foreclosure rate for December, with one new foreclosure filing for every 1,101 households — 7.1 times the state average. Manassas Park City reported the second highest foreclosure rate, with one new foreclosure filing for every 1,122 households — 7 times the state average. Prince William County reported the third highest foreclosure rate, with one new foreclosure filing for every 1,698 households — 4.6 times the state average.

 

State contributes less than 1 percent to national total

Virginia’s foreclosure activity accounted for less than 1 percent of the 109,652 properties entering some stage of foreclosure nationwide in December. The national total represents a 9 percent decrease from the 120,334 foreclosures reported in November. The nation’s foreclosure rate decreased to one new foreclosure filing for every 1,055 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 – December 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

26,593

41,292

5,472

15,887

20,408

109,652

1,055

n/a

n/a

Virginia

8

273

0

0

88

369

7,822

0.13

n/a

 

 

 

 

 

 

 

 

 

 

Accomack

0

0

0

0

0

0

n/a

0.00

0.00

Alexandria City

0

2

0

0

0

2

32,126

0.03

0.24

Amelia

0

0

0

0

0

0

n/a

0.00

0.00

Amherst

0

2

0

0

0

2

6,479

0.16

1.21

Appomattox

0

0

0

0

0

0

n/a

0.00

0.00

Arlington

0

0

0

0

3

3

30,142

0.03

0.26

Augusta

0

2

0

0

0

2

13,369

0.08

0.59

Bedford

0

0

0

0

0

0

n/a

0.00

0.00

Bland

0

1

0

0

0

1

3,161

0.33

2.47

Botetourt

0

0

0

0

0

0

n/a

0.00

0.00

Bristol

0

2

0

0

0

2

4,235

0.25

1.85

Brunswick

0

1

0

0

0

1

7,541

0.14

1.04

Buckingham

0

1

0

0

0

1

6,290

0.17

1.24

Campbell

0

0

0

0

0

0

n/a

0.00

0.00

Caroline

0

1

0

0

0

1

8,889

0.12

0.88

Carroll

0

0

0

0

0

0

n/a

0.00

0.00

Charlotte

0

0

0

0

0

0

n/a

0.00

0.00

Chesapeake City

0

21

0

0

1

22

3,303

0.32

2.37

Chesterfield

0

14

0

0

0

14

6,979

0.15

1.12

Clarke

0

1

0

0

0

1

5,388

0.20

1.45

Colonial Heights City

0

0

0

0

0

0

n/a

0.00

0.00

Culpeper

0

0

0

0

0

0

n/a

0.00

0.00

Danville City

0

1

0

0

2

3

7,703

0.14

1.02

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

21

0

0

1

22

16,337

0.06

0.48

Fairfax City

0

0

0

0

0

0

n/a

0.00

0.00

Falls Church City

0

0

0

0

1

1

4,725

0.22

1.66

Fauquier

0

0

0

0

0

0

n/a

0.00

0.00

Floyd

0

0

0

0

0

0

n/a

0.00

0.00

Franklin

0

0

0

0

0

0

n/a

0.00

0.00

Franklin City

0

0

0

0

0

0

n/a

0.00

0.00

Frederick

0

1

0

0

0

1

23,319

0.05

0.34

Fredericksburg City

0

1

0

0

0

1

8,888

0.12

0.88

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

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Greensville

0

1

0

0

0

1

3,765

0.28

2.08

Halifax

0

2

0

0

0

2

8,477

0.12

0.92

Hampton City

1

3

0

0

0

4

14,328

0.07

0.55

Hanover

0

3

0

0

0

3

7,065

0.15

1.11

Harrisonburg City

0

1

0

0

0

1

13,689

0.08

0.57

Henrico

0

14

0

0

0

14

8,041

0.13

0.97

Henry

0

1

0

0

0

1

25,921

0.04

0.30

Hopewell City

0

1

0

0

0

1

9,749

0.11

0.80

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 George

0

2

0

0

0

2

3,410

0.31

2.29

King William

0

1

0

0

0

1

5,189

0.20

1.51

Lancaster

0

2

0

0

0

2

3,249

0.32

2.41

Lee

0

1

0

0

0

1

11,086

0.10

0.71

Loudoun

0

8

0

0

23

31

2,005

0.53

3.90

Louisa

0

1

0

0

0

1

11,855

0.09

0.66

Lunenburg

0

0

0

0

0

0

n/a

0.00

0.00

Lynchburg City

0

3

0

0

0

3

9,213

0.11

0.85

Manassas City

0

8

0

0

3

11

1,101

0.96

7.10

Manassas Park City

0

2

0

0

1

3

1,122

0.94

6.97

Martinsville City

0

2

0

0

0

2

3,625

0.29

2.16

Mathews

0

0

0

0

0

0

n/a

0.00

0.00

Mecklenburg

0

2

0

0

0

2

8,702

0.12

0.90

Middlesex

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

1

0

0

0

1

32,527

0.03

0.24

Nelson

0

1

0

0

0

1

8,554

0.12

0.91

New Kent

0

2

0

0

0

2

2,602

0.41

3.01

Newport News City

1

8

0

0

0

9

n/a

n/a

n/a

Norfolk City

2

22

0

0

4

28

3,372

0.31

2.32

Northampton

0

1

0

0

0

1

6,547

0.16

1.19

Northumberland

0

1

0

0

0

1

8,057

0.13

0.97

Nottoway

0

1

0

0

0

1

6,373

0.17

1.23

Orange

0

0

0

0

0

0

n/a

0.00

0.00

Page

0

0

0

0

0

0

n/a

0.00

0.00

Patrick

0

1

0

0

0

1

9,823

0.11

0.80

Petersburg City

0

3

0

0

0

3

5,318

0.20

1.47

Pittsylvania

0

4

0

0

0

4

7,003

0.15

1.12

Portsmouth City

0

10

0

0

2

12

3,467

0.30

2.26

Powhatan

0

1

0

0

0

1

7,509

0.14

1.04

Prince Edward

0

0

0

0

0

0

n/a

0.00

0.00

Prince George

0

0

0

0

0

0

n/a

0.00

0.00

Prince William

1

27

0

0

30

58

1,698

0.62

4.61

Pulaski

0

0

0

0

0

0

n/a

0.00

0.00

Richmond

0

2

0

0

0

2

1,756

0.60

4.45

Richmond City

0

7

0

0

0

7

13,183

0.08

0.59

Roanoke

0

3

0

0

0

3

12,040

0.09

0.65

Roanoke City

1

1

0

0

0

2

22,629

0.05

0.35

Rockbridge

0

1

0

0

0

1

9,550

0.11

0.82

Rockingham

0

0

0

0

0

0

n/a

0.00

0.00

Salem

0

1

0

0

0

1

10,403

0.10

0.75

Scott

0

0

0

0

0

0

n/a

0.00

0.00

Shenandoah

0

0

0

0

0

0

n/a

0.00

0.00

Southampton

0

1

0

0

0

1

7,058

0.15

1.11

Spotsylvania

0

5

0

0

3

8

4,166

0.25

1.88

Stafford

0

2

0

0

8

10

3,141

0.34

2.49

Staunton City

0

1

0

0

0

1

10,427

0.10

0.75

Suffolk City

0

5

0

0

0

5

4,941

0.21

1.58

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

0.38

Virginia Beach City

2

26

0

0

6

34

4,773

0.22

1.64

Warren

0

1

0

0

0

1

13,299

0.08

0.59

Washington

0

1

0

0

0

1

22,985

0.05

0.34

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

2

0

0

0

2

10,351

0.10

0.76

 

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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