Foreclosure Activity Up 30 Percent in Third Quarter According to RealtyTrac U.S. Foreclosure Market Report(TM)

Foreclosure Actions Filed Against More Than 446,000 Properties

Activity Up Nearly 100 Percent From Q3 2006

IRVINE, Calif., Nov. 1 /PRNewswire/ — RealtyTrac(R) (http://www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Q3 2007 U.S. Foreclosure Market Report, which shows a total of 635,159 foreclosure filings — default notices, auction sale notices and bank repossessions — were reported on 446,726 properties nationwide during the third quarter, a 30 percent increase from the previous quarter and an increase of nearly 100 percent from the third quarter of 2006. The report also shows a foreclosure rate of one foreclosure filing for every 196 U.S. households for the quarter.

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million 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.

“August and September were the two highest monthly foreclosure filing totals we’ve seen since we began issuing our report in January 2005,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although not all areas are being hit as hard as others, the rise in foreclosures is quite widespread, with 45 out of the 50 states documenting year-over-year increases in the third quarter. Given the number of loans due to reset through the middle of 2008, and the continuing weakness in home sales, we would expect foreclosure activity to remain high and even increase over the next year in many markets.”

Nevada, California, Florida post top foreclosure rates

Nevada posted the nation’s highest foreclosure rate for the quarter, one foreclosure filing for every 61 households. A total of 16,817 foreclosure filings on 12,982 properties were reported in the state during the third quarter, up 23 percent from the previous quarter and more than triple the number reported in the third quarter of 2006.

California’s third-quarter foreclosure rate of one foreclosure filing for every 88 households ranked second highest among the states. A total of 148,147 foreclosure filings on 94,772 properties were reported in the state during the third quarter, up 36 percent from the previous quarter and nearly quadruple the number reported in the third quarter of 2006.

Florida documented a third-quarter foreclosure rate of one foreclosure filing for every 95 households, the nation’s third highest state foreclosure rate. A total of 86,465 foreclosure filings on 60,992 properties were reported in the state during the third quarter, up more than 50 percent from the previous quarter and more than double the number reported in the third quarter of 2006.

Other states with foreclosure rates among the top 10 included Michigan, Ohio, Colorado, Arizona, Georgia, Indiana and Texas.

California and Florida registered the top two state foreclosure filing totals for the quarter, followed by Ohio, which came in third with 46,818 foreclosure filings on 35,242 properties. With 44,092 foreclosure filings on 26,773 properties, Texas documented the nation’s fourth highest total. Michigan's total of 43,786 foreclosure filings on 29,655 properties was the fifth highest total.

Other states with foreclosure filing totals among the top 10 included Georgia, Arizona, Illinois, Colorado and Nevada.

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides the total number of foreclosure filings nationwide and by state, along with the number of households per foreclosure filing. Data is also available at the individual county level.

The household numbers are based on the U.S. Census Bureau’s 2005 estimates of total housing units. Foreclosure filings include foreclosure-related documents in all three phases of foreclosure: Default — Notice of Default (NOD) and Lis Pendens (LIS); Auction — 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).

Beginning with the Midyear 2007 report, the report also includes counts of unique addresses in some stage of foreclosure. This new metric only counts a property once, even if there were multiple foreclosure actions filed against the property during the time period covered by the report.
            U.S. Foreclosure Market Statistics by State — Q3 2007

         Foreclosure Filings                  Properties with Filings
                           1 filing % change % change        % change % change
    Rate State      Total     for     from     from    Total   from     from
    Rank Name      Filings every #HH Q2 2007  Q3 2006  Props  Q2 2007  Q3 2006

    —   U.S.      635,159    196      30.0     99.5  446,726   33.9    100.1
    39  Alabama      1,608  1,295     -26.9     32.3    1,129  -38.7      7.3
    35  Alaska         342    802      14.0     17.5      319   10.8     11.5
     7  Arizona     22,750    112      44.4    203.1   13,965   39.6    201.7
    18  Arkansas     3,413    366     -11.9     26.6    1,525   43.3     42.0
     2  California 148,147     88      36.0    297.0   94,772   39.3    254.2
     6  Colorado    18,796    109       5.3     30.8   11,218    4.1     20.3
    13  Connecticut  5,663    251     -36.5    115.0    7,747   69.1    920.7
    33  Delaware       573    654     157.0    309.3*     509  134.6    389.4*
        District of
         Columbia      331    839     903.0   1339.1*     327  808.3*  1067.9*
     3  Florida     86,465     95      51.5    115.4   60,992   57.1    130.6
     8  Georgia     26,534    142      17.2     67.5   21,340   42.3     84.5
    41  Hawaii         365  1,345      18.5    131.0      313   15.1    105.9
    19  Idaho        1,612    369      12.8    138.8    1,076   28.2    103.4
    15  Illinois    20,008    257      -4.2      3.4   19,128   12.4     38.7
     9  Indiana     13,913    196       8.0     28.4    9,087    4.3     10.2
    32  Iowa         2,207    592      56.3    291.3*   1,467   41.3    180.5*
    37  Kansas       1,249    958       4.0     12.2      708  -16.5     22.1
    36  Kentucky     2,306    809       3.5     -0.2    1,879    3.1     -4.2
    38  Louisiana    1,863  1,042       5.3     94.7    1,210   10.7    -43.7
    45  Maine          427  1,601       0.2    477.0*     n/a    n/a      n/a
    16  Maryland     8,340    273      66.7    549.0    6,530   59.0    491.0
    11  Mass.       12,651    212      32.0    196.3    9,625  129.5   1127.7
     4  Michigan    43,786    102      65.7    110.7   29,655   56.3     78.6
    30  Minnesota    4,004    562      37.5    151.7*   3,092   19.8    124.9*
    46  Mississippi    494  2,501      -5.0    100.8      384    2.7     54.2
    17  Missouri     7,829    331      12.4     94.3    6,046   15.8     74.9
    43  Montana        316  1,356      -1.9     38.0      283   -4.1     25.8
    34  Nebraska       996    770      43.7      4.7      954   39.9      3.7
     1  Nevada      16,817     61      22.8    202.4   12,982   29.9    212.2
    22  New
         Hampshire   1,356    430       9.8   2785.1*     n/a    n/a      n/a
    14  New Jersey  13,655    252      15.5     52.8    9,157   27.3     56.7
    42  New Mexico     622  1,348     -20.8    -17.7      605  -15.9    -12.3
    29  New York    14,272    550      12.1     22.6   12,138   22.4     66.7
    24  North
         Carolina    8,762    450      11.4     61.7    7,548   13.4     99.0
    48  North
         Dakota         71  4,288     -15.5    102.9       65   -4.4     85.7
     5  Ohio        46,818    107      28.2    137.1   35,242   18.7    136.0
    25  Oklahoma     3,356    473      20.3    -19.7    2,728   20.8    -27.6
    31  Oregon       2,696    578      10.4     52.8    2,379   12.7     45.1
    27  Pennsylvania 9,919    547      31.5     10.9    7,081   10.7     -5.9
    28  Rhode Island   816    549      -0.1     48.1      n/a    n/a      n/a
    44  South
         Carolina    1,291  1,493      22.4      3.1    1,238   21.5      5.5
    49  South
         Dakota         75  4,639     -12.8     -6.3      n/a    n/a      n/a
    12  Tennessee   12,198    216      15.4     62.6    7,080   21.0     57.3
    10  Texas       44,092    205      48.9     12.0   26,773   29.2      7.6
    20  Utah         2,173    402      -2.4    -33.9    2,060   10.3    -15.5
    50  Vermont         25 12,294      78.6    316.7*      10   -9.1    400.0
    21  Virginia     7,718    411      55.7    488.7    5,640   50.6    516.4
    23  Washington   6,035    439       9.6     42.2    4,695   13.8     41.8
    47  West
         Virginia      284  3,071     -41.0     36.5      126  -20.8     31.3
    26  Wisconsin    4,943    505      76.7    175.2    3,793   57.4    155.6
    40  Wyoming        177  1,332      94.5     40.5      106   24.7     14.0
    *Actual increase may not be as high due to expanded data coverage in this
     state.

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. (http://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 homes, 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 current news and information regarding foreclosure-related issues and trends, visit our blog at http://www.ForeclosurePulse.com.

SOURCE RealtyTrac Inc.

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