WEST VIRGINIA FORECLOSURES DECREASE 39 PERCENT IN NOVEMBER

State’s Activity Level Up 26 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – West Virginia reported 48 properties entering some stage of the foreclosure process in November, a 39 percent decrease from the 79 properties reported in October, but still a 26 percent increase from the 38 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 West Virginia foreclosures decreased in November, the numbers are up from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that job growth throughout the state is below the national average and that home sales have declined significantly.  These factors are likely contributing to the overall rise.” 

 

West Virginia ranked 46th in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 17,596 ranked 42nd among the 50 states.

 

Kanawha County leads state in activity

Kanawha County reported the largest share of West Virginia’s foreclosure activity for the month, with 13 properties entering some stage of the foreclosure process during the month. Raleigh County reported the second highest total, with six properties entering some stage of the foreclosure process for the month. Jefferson and Wood Counties reported the third highest total, with each reporting four properties entering some stage of the foreclosure process. 

 

Calhoun County posts state’s top foreclosure rate

Calhoun County posted the state’s highest foreclosure rate in November, with one new foreclosure filing for every 3,848 households — 4.6 times the state average. Jefferson County reported the second highest foreclosure rate, with one new foreclosure filing for every 4,406 households — four times the state average. Tyler County posted the third highest foreclosure rate, with one new foreclosure filing for every 4,780 households — 3.7 times the state average.

 

West Virginia makes minor contribution to national total

West Virginia foreclosure activity accounted for less than 0.1 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.

 

                      West 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

West Virginia

0

48

0

0

0

48

17,566

0.06

n/a

 

 

 

 

 

 

 

 

 

 

Berkeley

0

1

0

0

0

1

32,913

0.02

0.53

Boone

0

1

0

0

0

1

11,575

0.08

1.52

Brooke

0

1

0

0

0

1

11,150

0.08

1.57

Cabell

0

0

0

0

0

0

                 n/a

0.00

0.00

Calhoun

0

1

0

0

0

1

3,848

0.25

4.57

Fayette

0

1

0

0

0

1

21,616

0.04

0.81

Hardy

0

0

0

0

0

0

                 n/a

0.00

0.00

Jackson

0

0

0

0

0

0

                 n/a

0.00

0.00

Jefferson

0

4

0

0

0

4

4,406

0.21

3.99

Kanawha

0

13

0

0

0

13

7,214

0.13

2.43

Marion

0

2

0

0

0

2

13,330

0.07

1.32

Marshall

0

1

0

0

0

1

15,814

0.06

1.11

McDowell

0

1

0

0

0

1

13,582

0.07

1.29

Mercer

0

3

0

0

0

3

10,048

0.09

1.75

Monongalia

0

2

0

0

0

2

18,348

0.05

0.95

Morgan

0

0

0

0

0

0

                 n/a

0.00

0.00

Pendleton

0

0

0

0

0

0

                 n/a

0.00

0.00

Putnam

0

1

0

0

0

1

21,621

0.04

0.81

Raleigh

0

6

0

0

0

6

5,946

0.16

2.95

Randolph

0

2

0

0

0

2

6,739

0.14

2.61

Roane

0

0

0

0

0

0

                 n/a

0.00

0.00

Tyler

0

1

0

0

0

1

4,780

0.20

3.68

Upshur

0

1

0

0

0

1

10,751

0.08

1.63

Wayne

0

1

0

0

0

1

19,107

0.05

0.92

Wetzel

0

1

0

0

0

1

8,313

0.11

2.11

Wood

0

4

0

0

0

4

9,946

0.09

1.76

 

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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