Stockton, Detroit, Riverside-San Bernardino Post Top Metro Foreclosure Rates According to RealtyTrac(R) Q3 2007 Metropolitan Foreclosure Market Report(TM)

California, Florida and Ohio Cities Account for 17 of Top 25 Metro Foreclosure Rates

IRVINE, Calif., Nov. 14 /PRNewswire/ — RealtyTrac(R) (http://www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Q3 2007 Metropolitan Foreclosure Market Report, which shows Stockton, Calif., Detroit and Riverside-San Bernardino, Calif., documented the three highest foreclosure rates among the nation’s 100 largest metropolitan areas during the third 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.

“Although cities in just three states — California, Ohio and Florida — accounted for more than two-thirds of the top 25 metro foreclosure rates, increasing foreclosure activity was not limited to just a few hot spots,” said James J. Saccacio, chief executive officer of RealtyTrac. “In fact, 77 out of the top 100 metro areas reported more foreclosure filings in the third quarter than they had in the previous quarter. Still, there continue to be pockets of the country — most noticeably metro areas in the Carolinas, Virginia and Texas — that have thus far dodged the foreclosure bullet.”

California, Ohio, Florida cities dominate top metro foreclosure rates

Stockton, Calif., documented one foreclosure filing for every 31 households during the quarter, the highest foreclosure rate among the nation’s 100 largest metro areas. A total of 7,116 foreclosure filings on 4,409 properties were reported in the metro area during the quarter, up more than 30 percent from the previous quarter.

Detroit’s third-quarter foreclosure rate of one foreclosure filing for every 33 households ranked second highest among the nation’s 100 largest metro areas. A total of 25,708 foreclosure filings on 16,079 properties were reported in the metro area during the quarter, more than twice the number of filings reported in the previous quarter.

The Riverside-San Bernardino, Calif., metropolitan area in Southern California documented the nation's third highest metro foreclosure rate, one foreclosure filing for every 43 households. A total of 31,661 foreclosure filings 20,664 properties were reported in the metro area during the quarter, up more than 30 percent from the previous month.

Other cities in the top 10 metro foreclosure rates: Fort Lauderdale, Fla.; Las Vegas; Sacramento, Calif.; Cleveland; Miami; Bakersfield, Calif.; and Oakland, Calif. California cities accounted for seven of the top 25 metro foreclosure rates, while Florida and Ohio each accounted for five of the top 25 spots.

Riverside-San Bernardino, Los Angeles, Detroit report most foreclosure filings

The Riverside-San Bernardino metropolitan area reported the most foreclosure filings during the quarter, followed by Los Angeles, with 29,501 filings on 18,043 properties. The Los Angeles foreclosure rate of one foreclosure filing for every 113 households ranked No. 26 among the nation's 100 largest metro areas. Detroit reported the third highest number of foreclosure filings during the quarter.

Atlanta's foreclosure filing total of 21,695 on 18,940 properties was the fourth highest foreclosure filing total, and the metro area's foreclosure rate of one foreclosure filing for every 92 households ranked No. 18 among the top 100 metro areas.

Other cities with foreclosure filing totals among the 10 highest were Phoenix, Fort Lauderdale, Fla., Cleveland, Chicago; Miami and Sacramento, Calif.

Report methodology

The RealtyTrac Metro Foreclosure Market Report provides the total number of foreclosure filings by metropolitan area, along with the number of households per foreclosure filing. The household numbers are based on the U.S. Census Bureau's 2005 estimates of total housing units.

Beginning with the Midyear 2007 report, the report also includes counts of properties with at least one foreclosure filing reported against them. 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.

Data is also available at the individual county level. RealtyTrac's report includes documents filed 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).
    Foreclosure Activity for the Nation's 100 Largest MSAs – Q3 2007

                                  Foreclosure Filings  Properties with Filings

                                            1 filing           %Change %Change
                                     Total   for   Properties   from    from
    Rate                            Filings every    with      Q2 2007 Q3 2006
    Rank MSA                                 #HH    Filings
    1 STOCKTON, CA                  7,116     31     4,409      31.6    465.3
    2 DETROIT/LIVONIA/DEARBORN, MI 25,708     33    16,079      91.7     93.4
    3 RIVERSIDE/SAN BERNARDINO, CA 31,661     43    20,664      39.1    267.9
    4 FORT LAUDERDALE, FL          16,595     48     9,367      89.8    127.4
    5 LAS VEGAS/PARADISE, NV       14,948     48    11,482      28.7    200.3
    6 SACRAMENTO, CA               15,479     48     9,241      34.4    408.0
      CLEVELAND/LORAIN/ELYRIA
    7 /MENTOR, OH                  16,332     57    11,821      30.3    178.5
    8 MIAMI, FL                    15,484     60    10,232      42.7     82.0
    9 BAKERSFIELD, CA               3,947     64     2,824      73.4    361.4
    10 OAKLAND, CA                 13,245     71     8,062      71.0    268.8
    11 AKRON, OH                    3,992     76     2,941      11.4    128.0
    12 DENVER/AURORA, CO           13,179     77     7,751       3.6     28.3
    13 FRESNO, CA                   3,687     79     2,434      40.9    239.9
    14 MEMPHIS, TN                  6,239     85     3,353      27.4     38.6
    15 PHOENIX/MESA, AZ            18,328     87    11,242      44.7    246.0
    16 SAN DIEGO, CA               12,274     91     7,228      27.7    155.0
    17 DAYTON, OH                   4,147     91     3,054       9.7    108.5
       ATLANTA/SANDY
    18 SPRINGS/MARIETTA, GA        21,695     92    18,940      49.1     93.9
       TAMPA/ST
    19 PETERSBURGH/CLEARWATER, FL  13,562     93     9,126      57.7    143.6
    20 TOLEDO, OH                   3,119     95     2,550      73.6    278.3
    21 PALM BEACH, FL               6,387     97     4,545      83.5     79.4
    22 DALLAS, TX                  14,717    102     8,180      17.9      7.3
    23 COLUMBUS, OH                 7,265    104     5,330      18.0     95.7
    24 INDIANAPOLIS, IN             6,604    109     4,829       4.3     -8.2
       SARASOTA/BRADENTON/
    25 VENICE,FL                    3,308    112     2,319      30.2    248.7
    26 LOS ANGELES/LONG BEACH, CA  29,501    113    18,043      31.0    213.8
    27 ORLANDO, FL                  7,189    114     5,428      59.9    184.8
       WARREN/FARMINGTON
    28 HILLS/TROY, MI               9,025    116     6,797      46.2     99.4
    29 FORT WORTH/ARLINGTON, TX     6,328    118     3,438      15.8      0.8
    30 CINCINNATI, OH               6,144    145     4,857       1.0    125.5
    31 ORANGE, CA                   6,899    147     4,295      30.1    193.6
    32 WORCHESTER, MA               2,069    150     1,661     122.4    894.6
    33 JACKSONVILLE, FL             3,501    156     3,076      17.4     48.6
    34 TUCSON, AZ                   2,514    162     1,452      22.6     96.0
    35 SAN ANTONIO, TX              4,300    167     2,285      29.6     -4.5
       HOUSTON/BAYTOWN/
    36 SUGARLAND, TX               11,960    171     8,500      59.1     14.9
    37 SPRINGFIELD, MA              1,637    172     1,219     150.8   1169.8
       WASHINGTON/ARLINGTON
    38 /ALEXANDRIA, DC-VA-MD        9,099    182     6,672      50.4    491.5
    39 ESSEX, MA                    1,605    183     1,181     127.6    993.5
    40 NEWHAVEN/MILFORD, CT         1,850    188       N/A       N/A      N/A
    41 CHICAGO, IL                 16,314    188    15,554      14.6     42.9
    42 VENTURA, CA                  1,400    190     1,371      41.9    243.6
       SAN JOSE/SUNNYVALE/SANTA
    43 CLARA, CA                    3,245    192     2,201      51.6    206.1
    44 AUSTIN/ROUND ROCK, TX        3,063    193     1,608      12.2      2.4
    45 GARY, IN                     1,408    200     1,042     -15.2     17.3
    46 CHARLOTTE/GASTONIA, NC       3,148    208     2,684      15.2     90.5
    47 NEWARK, NJ                   3,970    211     2,634      30.5     63.0
    48 BOSTON/QUINCY , MA           3,386    220     2,680     146.1   1274.4
    49 TACOMA, WA                   1,369    221       974      19.7     52.4
    50 LAKE/KENOSHA, IL-WI          1,110    222       N/A       N/A      N/A
       MILWAUKEE/WAUKESHA/WST
    51 ALLIS, WI                    2,870    224     2,210      92.5    142.9
    52 CAMDEN, NJ                   1,225    227       779      16.4    -19.6
       LITTLE ROCK/NORTH LITTLE
    53 ROCK, AR                     1,250    227       661      64.4     17.4
    54 KANSAS CITY, MO-KS           3,659    234     2,425       1.8     80.2
    55 EDISON, NJ                   3,787    244     2,415      10.5     94.4
    56 ST LOUIS, MO-IL              4,820    251     4,144      15.2     47.9
       CAMBRIDGE/NEWTON/
    57 FRAMINGHAM, MA               2,278    257     1,586     131.5   1552.1
    58 TULSA, OK                    1,497    259     1,245      19.1    -11.5
    59 NASHVILLE/DAVIDSON, TN       2,224    274     1,331      14.6    121.1
       SCRANTON/WILKES/BARRE/
    60 HAZLETON, PA                   898    286       458      99.1     90.8
    61 HARTFORD, CT                 1,674    290       N/A       N/A      N/A
       BRIDGEPORT/STAMFORD/
    62 NORWALK, CT                  1,171    296       N/A       N/A      N/A
    63 SALT LAKE CITY, UT           1,253    299       N/A       N/A      N/A
    64 OKLAHOMA CITY, OK            1,639    309     1,297      24.7    -30.5
    65 BALTIMORE/TOWSON, MD         3,516    310     2,884      75.0    578.6
    66 LOUISVILLE, KY-IN            1,696    314     1,287      -1.8    -15.3
    67 RALEIGH/CARY, NC             1,242    319     1,076      16.8    105.7
       BETHESDA/FREDERICK/
    68 GAITHERSBURG, MD             1,362    323     1,027      41.7   1640.7
       MINNEAPOLIS/ST
    69 PAUL/BLOOMINGTON, MN-WI      3,699    349     2,812      13.2    109.7
    70 PHILADELPHIA, PA             4,456    360     3,629       6.9     -5.3
    71 OMAHA/COUNCIL BLUFFS, NE-IA    846    401       795      46.4      0.4

    72 KNOXVILLE, TN                  701    426       449       9.5    101.3
    73 SUFFOLK/NASSAU, NY           2,321    429       N/A       N/A      N/A
    74 PITTSBURGH, PA               2,548    432     1,526      -0.5    -28.6
       SEATTLE/BELLEVUE/
    75 EVERETT, WA                  2,318    456     1,665       7.6     30.3
    76 EL PASO, TX                    527    463       308     -22.4    -34.2
       NEW YORK/WAYNE/WHITE
    77 PLAINS, NY-NJ                9,240    472     7,302      19.1     93.8
    78 NEW ORLEANS, LA              1,212    480       754      23.0    188.9
    79 WILMINGTON, DE-NJ              543    508       504     201.8    247.6
       BUFFALO/CHEEKTOWAGA/
    80 TONAWANDA, NY                  960    541       643      67.9    -32.2
       POUGHKEEPSIE/NEWBURGH/
    81 MIDDLE TOWN, NY                446    543       279      43.8     54.1
    82 PROVIDENCE/NEW BEDFORD, RI     816    549       N/A       N/A      N/A
       PORTLAND/VANCOUVER/
    83 BEAVERTON, OR-WA             1,474    582     1,420      11.3     39.9
    84 ROCHESTER, NY                  695    631       617     -39.3     58.2
    85 WICHITA, KS                    343    736       171     -30.5     -2.8
    86 GREENSBORO/HIGHPOINT, NC       405    744       379     -34.0     24.3
    87 SAN FRANCISCO, CA              940    775       926       1.3     88.2
    88 ALBANY/SCHENECTADY/TROY, NY    449    836       232     -17.7    176.2
    89 ALBUQUERQUE, NM                387    880       372     -28.5    -31.0
    90 BIRMINGHAM/HOOVER, AL          451  1,001       342     -66.3    -56.6
       NORFOLK/VIRGINIA
    91 BEACH/NEWPORT NEWS, VA         580  1,013       471      17.8    178.7
    92 CHARLESTON, SC                 254  1,040       247      -5.4     71.5
    93 COLUMBIA, SC                   279  1,064       271      51.4     48.1
    94 RICHMOND, VA                   448  1,103       395     223.8    338.9
    95 SYRACUSE, NY                   249  1,139       156      20.0     48.6
       ALLENTOWN/BETHLEHEM/
    96 EASTON, PA                     204  1,493       187     -34.6     32.6
    97 HONOLULU, HI                   197  1,672       163       6.5     59.8
    98 BATON ROUGE, LA                147  2,074       136     -20.9    -92.0
    99 MCALLEN/EDINBURG/PHARR, TX     106  2,185       N/A       N/A      N/A
   100 GREENVILLE, SC                  79  3,289        65     -16.7    -82.3
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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