National Foreclosures Decrease 9.2 Percent in September According to RealtyTrac(TM) U.S. Foreclosure Market Report

Higher Colorado, Ohio and Georgia Foreclosures Offset

by Lower Rates in Gulf Coast States



25 Oct, 2005, 01:00 ET from RealtyTrac Inc.

    IRVINE, Calif., Oct. 25 /PRNewswire-FirstCall/ -- RealtyTrac(TM)
 (www.realtytrac.com), the leading online marketplace for foreclosure
 properties, today released its September 2005 Monthly U.S. Foreclosure Market
 Report, which showed 68,646 properties nationwide entered some stage of
 foreclosure in September, a 9.2 percent decrease from the previous month.  The
 report shows a September foreclosure rate of one foreclosure for every 1,685
 households.
      (Photo:  http://www.newscom.com/cgi-bin/prnh/20051025/LATU058 )
      RealtyTrac publishes the largest national database of pre-foreclosure and
 foreclosure properties, with more than 550,000 properties in over 2,000
 counties across the country, and is the foreclosure data provider to MSN House
 & Home, Yahoo! Real Estate, AOL Real Estate and HomeGain.com.
     "Foreclosures in September dropped for the second month in a row, at least
 in part due to issues related to Hurricanes Katrina and Rita," said James J.
 Saccacio, chief executive officer of RealtyTrac.  "Trends in the real estate
 market in general -- and foreclosure properties in particular -- will be
 interesting to watch over the next few months as new economic forces such as
 increasing interest rates and the recently-passed bankruptcy laws come into
 play."
     Despite the lower foreclosure rates nationally, a number of states showed
 increased numbers of foreclosures.  Colorado reported 3,602 properties
 entering some stage of foreclosure, a 50 percent increase from August and one
 foreclosure for every 508 households -- the highest foreclosure rate of any
 state and more than three times the national average.
     Foreclosure rates in Georgia and Ohio were more than twice the national
 average thanks to foreclosures increasing more than 20 percent in both states.
 With 3,923 properties entering some stage of foreclosure, Georgia foreclosures
 occurred at one in every 789 households.  With 5,799 foreclosures, the Ohio
 foreclosure rate was one in every 825 households.
     California documented 4,994 properties entering some stage of foreclosure
 in September, a 3.8 percent increase.  But with one foreclosure for every
 2,446 households, the California foreclosure rate was still well below the
 national average.
     Although it documented the most foreclosures of any state for the second
 month in a row, the number of Texas foreclosures dropped 28 percent in
 September.  The state reported a total of 9,736 properties entering some stage
 of foreclosure, one for every 827 households -- still more than twice the
 national average and the fifth highest foreclosure rate of any state.
     The Florida foreclosure rate of one in every 796 households, registered as
 the nation's third highest foreclosure rate despite a 9.8 percent decrease in
 the number of foreclosures.  The state documented 9,183 properties entering
 some stage of foreclosure, the second most of any state.
 
     Gulf Coast Foreclosure Properties Down
     The Gulf Coast states impacted by hurricanes Katrina and Rita continued to
 report lower-than-normal foreclosures in September.  After dropping
 significantly in August, when Hurricane Katrina hit, the number of Louisiana,
 Mississippi and Alabama foreclosures rebounded somewhat in September.  But the
 three states still documented fewer than half as many properties entering some
 stage of foreclosure as they did in July.
     Some of the drop in Gulf Coast foreclosures can be attributed to actions
 taken by the Department of Housing and Urban Development (HUD), which has
 called for a 90-day moratorium on foreclosures in federal disaster areas for
 properties that are insured by the Federal Housing Administration.  HUD also
 has suspended its home sales program for close to 6,000 foreclosed properties
 in 11 states in and around the Gulf Coast: Alabama, Arkansas, Florida,
 Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee
 and Texas.  Instead of being sold on the market, those properties will be used
 for up to 18 months as temporary rent-free housing for people displaced by the
 hurricanes.
     The RealtyTrac Monthly U.S. Foreclosure Market Report provides a graphical
 map that illustrates foreclosure percentiles by state (appended to this press
 release or available by request), as well as the total number of homes in some
 stage of foreclosure nationwide and by state over the preceding month.  Data
 is also available at the individual county level.  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 re-purchased by a
 bank).
 
      Below are foreclosure market statistics nationwide and by state:
 
 
 
      State Name      NODs    NTSs    NFSs    LISs     REOs    Total    %tile
      US 9/2005      14,396  24,634   1,525   9,612   18,479   68,646
      Alabama             6      90       0       0       83      179    28.43
      Alaska              4      65       0       0       15       84    64.71
      Arizona           127   1,832       0       0      119    2,078    86.27
      Arkansas           39     702       0       0      205      946    80.39
      California      4,147     674       0       0      173    4,994    64.71
      Colorado        2,281     152       0       0    1,169    3,602   100.00
      Connecticut        12      14       0       0        2       28    11.76
      Delaware            4       5       0       0        1       10    15.69
      District of
       Columbia           1       5       0       0        6       12    17.65
      Florida             0       0   1,059   7,791      333    9,183    96.08
      Georgia            23   2,977       0       0      923    3,923    98.04
      Hawaii             51      36       0       0       11       98    43.14
      Idaho              60      98       0       0       13      171    53.92
      Illinois        2,267      99       0       0    1,611    3,977    82.35
      Indiana           496   1,206       0       0      756    2,458    88.24
      Iowa               23      12       0       0      103      138    37.25
      Kansas             19      10       0       0       71      100    28.43
      Kentucky           91      30       0       0       47      168    31.37
      Louisiana          17      28       0       0      155      200    35.29
      Maine               4       3       0       0        0        7     9.80
      Maryland           10     206       0       0      286      502    47.06
      Massachusetts       9       7       0       0        3       19     5.88
      Michigan          124     295       0       0    2,203    2,622    72.55
      Minnesota          14      38       0       0       98      150    22.55
      Mississippi         9      17       0       0       66       92    22.55
      Missouri           35      46       0       0      860      941    57.84
      Montana             4     101       0       0        8      113    50.98
      Nebraska          223      25       0       0      102      350    70.59
      Nevada            104     446       0       0       19      569    75.49
      New Hampshire       0       0       0       0        2        2     5.88
      New Jersey      1,674     664       0       0      123    2,461    78.43
      New Mexico        230      18       0       0       52      300    57.84
      New York            0       0     466   1,821      206    2,493    53.92
      North
       Carolina          81     122       0       0      706      909    49.02
      North Dakota        0       0       0       0        7        7    13.73
      Ohio              151   2,579       0       0    3,069    5,799    93.14
      Oklahoma          399     275       0       0      309      983    75.49
      Oregon            230     269       0       0       71      570    60.78
      Pennsylvania      282   1,526       0       0      571    2,379    68.63
      Rhode Island        0       1       0       0        0        1     1.96
      South
       Carolina          51      56       0       0      232      339    41.18
      South Dakota        3      12       0       0        2       17    19.61
      Tennessee           8     828       0       0    1,317    2,153    84.31
      Texas              64   7,752       0       0    1,920    9,736    93.14
      Utah              663      30       0       0      227      920    90.20
      Vermont             1       0       0       0        1        2     5.88
      Virginia            2     158       0       0       65      225    25.49
      Washington         30     867       0       0       88      985    64.71
      West Virginia       1     101       0       0        0      102    39.22
      Wisconsin         320     152       0       0       38      510    45.10
      Wyoming             1       3       0       0       18       22    33.33
 
 
 
     About RealtyTrac Inc.
     Ranked as the fourth-largest real estate site by Nielsen NetRatings,
 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 and new construction properties, with more than 550,000
 properties across the country, property reports, productivity tools and
 extensive professional resources.  RealtyTrac hosts close to 2 million unique
 visitors monthly and has been chosen to supply foreclosure data to AOL, MSN
 House & Home, Yahoo Real Estate and HomeGain.com.  For more information, visit
 www.realtytrac.com.
 
 

SOURCE RealtyTrac Inc.
    IRVINE, Calif., Oct. 25 /PRNewswire-FirstCall/ -- RealtyTrac(TM)
 (www.realtytrac.com), the leading online marketplace for foreclosure
 properties, today released its September 2005 Monthly U.S. Foreclosure Market
 Report, which showed 68,646 properties nationwide entered some stage of
 foreclosure in September, a 9.2 percent decrease from the previous month.  The
 report shows a September foreclosure rate of one foreclosure for every 1,685
 households.
      (Photo:  http://www.newscom.com/cgi-bin/prnh/20051025/LATU058 )
      RealtyTrac publishes the largest national database of pre-foreclosure and
 foreclosure properties, with more than 550,000 properties in over 2,000
 counties across the country, and is the foreclosure data provider to MSN House
 & Home, Yahoo! Real Estate, AOL Real Estate and HomeGain.com.
     "Foreclosures in September dropped for the second month in a row, at least
 in part due to issues related to Hurricanes Katrina and Rita," said James J.
 Saccacio, chief executive officer of RealtyTrac.  "Trends in the real estate
 market in general -- and foreclosure properties in particular -- will be
 interesting to watch over the next few months as new economic forces such as
 increasing interest rates and the recently-passed bankruptcy laws come into
 play."
     Despite the lower foreclosure rates nationally, a number of states showed
 increased numbers of foreclosures.  Colorado reported 3,602 properties
 entering some stage of foreclosure, a 50 percent increase from August and one
 foreclosure for every 508 households -- the highest foreclosure rate of any
 state and more than three times the national average.
     Foreclosure rates in Georgia and Ohio were more than twice the national
 average thanks to foreclosures increasing more than 20 percent in both states.
 With 3,923 properties entering some stage of foreclosure, Georgia foreclosures
 occurred at one in every 789 households.  With 5,799 foreclosures, the Ohio
 foreclosure rate was one in every 825 households.
     California documented 4,994 properties entering some stage of foreclosure
 in September, a 3.8 percent increase.  But with one foreclosure for every
 2,446 households, the California foreclosure rate was still well below the
 national average.
     Although it documented the most foreclosures of any state for the second
 month in a row, the number of Texas foreclosures dropped 28 percent in
 September.  The state reported a total of 9,736 properties entering some stage
 of foreclosure, one for every 827 households -- still more than twice the
 national average and the fifth highest foreclosure rate of any state.
     The Florida foreclosure rate of one in every 796 households, registered as
 the nation's third highest foreclosure rate despite a 9.8 percent decrease in
 the number of foreclosures.  The state documented 9,183 properties entering
 some stage of foreclosure, the second most of any state.
 
     Gulf Coast Foreclosure Properties Down
     The Gulf Coast states impacted by hurricanes Katrina and Rita continued to
 report lower-than-normal foreclosures in September.  After dropping
 significantly in August, when Hurricane Katrina hit, the number of Louisiana,
 Mississippi and Alabama foreclosures rebounded somewhat in September.  But the
 three states still documented fewer than half as many properties entering some
 stage of foreclosure as they did in July.
     Some of the drop in Gulf Coast foreclosures can be attributed to actions
 taken by the Department of Housing and Urban Development (HUD), which has
 called for a 90-day moratorium on foreclosures in federal disaster areas for
 properties that are insured by the Federal Housing Administration.  HUD also
 has suspended its home sales program for close to 6,000 foreclosed properties
 in 11 states in and around the Gulf Coast: Alabama, Arkansas, Florida,
 Georgia, Kentucky, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee
 and Texas.  Instead of being sold on the market, those properties will be used
 for up to 18 months as temporary rent-free housing for people displaced by the
 hurricanes.
     The RealtyTrac Monthly U.S. Foreclosure Market Report provides a graphical
 map that illustrates foreclosure percentiles by state (appended to this press
 release or available by request), as well as the total number of homes in some
 stage of foreclosure nationwide and by state over the preceding month.  Data
 is also available at the individual county level.  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 re-purchased by a
 bank).
 
      Below are foreclosure market statistics nationwide and by state:
 
 
 
      State Name      NODs    NTSs    NFSs    LISs     REOs    Total    %tile
      US 9/2005      14,396  24,634   1,525   9,612   18,479   68,646
      Alabama             6      90       0       0       83      179    28.43
      Alaska              4      65       0       0       15       84    64.71
      Arizona           127   1,832       0       0      119    2,078    86.27
      Arkansas           39     702       0       0      205      946    80.39
      California      4,147     674       0       0      173    4,994    64.71
      Colorado        2,281     152       0       0    1,169    3,602   100.00
      Connecticut        12      14       0       0        2       28    11.76
      Delaware            4       5       0       0        1       10    15.69
      District of
       Columbia           1       5       0       0        6       12    17.65
      Florida             0       0   1,059   7,791      333    9,183    96.08
      Georgia            23   2,977       0       0      923    3,923    98.04
      Hawaii             51      36       0       0       11       98    43.14
      Idaho              60      98       0       0       13      171    53.92
      Illinois        2,267      99       0       0    1,611    3,977    82.35
      Indiana           496   1,206       0       0      756    2,458    88.24
      Iowa               23      12       0       0      103      138    37.25
      Kansas             19      10       0       0       71      100    28.43
      Kentucky           91      30       0       0       47      168    31.37
      Louisiana          17      28       0       0      155      200    35.29
      Maine               4       3       0       0        0        7     9.80
      Maryland           10     206       0       0      286      502    47.06
      Massachusetts       9       7       0       0        3       19     5.88
      Michigan          124     295       0       0    2,203    2,622    72.55
      Minnesota          14      38       0       0       98      150    22.55
      Mississippi         9      17       0       0       66       92    22.55
      Missouri           35      46       0       0      860      941    57.84
      Montana             4     101       0       0        8      113    50.98
      Nebraska          223      25       0       0      102      350    70.59
      Nevada            104     446       0       0       19      569    75.49
      New Hampshire       0       0       0       0        2        2     5.88
      New Jersey      1,674     664       0       0      123    2,461    78.43
      New Mexico        230      18       0       0       52      300    57.84
      New York            0       0     466   1,821      206    2,493    53.92
      North
       Carolina          81     122       0       0      706      909    49.02
      North Dakota        0       0       0       0        7        7    13.73
      Ohio              151   2,579       0       0    3,069    5,799    93.14
      Oklahoma          399     275       0       0      309      983    75.49
      Oregon            230     269       0       0       71      570    60.78
      Pennsylvania      282   1,526       0       0      571    2,379    68.63
      Rhode Island        0       1       0       0        0        1     1.96
      South
       Carolina          51      56       0       0      232      339    41.18
      South Dakota        3      12       0       0        2       17    19.61
      Tennessee           8     828       0       0    1,317    2,153    84.31
      Texas              64   7,752       0       0    1,920    9,736    93.14
      Utah              663      30       0       0      227      920    90.20
      Vermont             1       0       0       0        1        2     5.88
      Virginia            2     158       0       0       65      225    25.49
      Washington         30     867       0       0       88      985    64.71
      West Virginia       1     101       0       0        0      102    39.22
      Wisconsin         320     152       0       0       38      510    45.10
      Wyoming             1       3       0       0       18       22    33.33
 
 
 
     About RealtyTrac Inc.
     Ranked as the fourth-largest real estate site by Nielsen NetRatings,
 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 and new construction properties, with more than 550,000
 properties across the country, property reports, productivity tools and
 extensive professional resources.  RealtyTrac hosts close to 2 million unique
 visitors monthly and has been chosen to supply foreclosure data to AOL, MSN
 House & Home, Yahoo Real Estate and HomeGain.com.  For more information, visit
 www.realtytrac.com.
 
 SOURCE  RealtyTrac Inc.