STOCKTON, DETROIT, RIVERSIDE-SAN BERNARDINO POST TOP METRO FORECLOSURE RATES ACCORDING TO REALTYTRAC Q3 2007 METROPOLITAN FORECLOSURE MARKET REPORT California, Florida and Ohio Cities Account for 17 of Top 25 Metro Foreclosure Rates IRVINE, Calif. Nov. 14, 2007 RealtyTrac (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 Rate Rank MSA Foreclosure Filings Total Filings 1 filing for every #HH Properties with Filin Properties with Filings %Δ from Q2 2007 1 STOCKTON, CA 7,116 31 4,409 31.6 2 DETROIT/LIVONIA/DEARBORN, MI 25,708 33 16,079 91.7 3 RIVERSIDE/SAN BERNARDINO, CA 31,661 43 20,664 39.1 4 FORT LAUDERDALE, FL 16,595 48 9,367 89.8 5 LAS VEGAS/PARADISE, NV 14,948 48 11,482 28.7 6 SACRAMENTO, CA 15,479 48 9,241 34.4 7 CLEVELAND/LORAIN/ELYRIA /MENTOR, OH 16,332 57 11,821 30.3 8 MIAMI, FL 15,484 60 10,232 42.7 9 BAKERSFIELD, CA 3,947 64 2,824 73.4 10 OAKLAND, CA 13,245 71 8,062 71.0 11 AKRON, OH 3,992 76 2,941 11.4
12 DENVER/AURORA, CO 13,179 77 7,751 3.6 13 FRESNO, CA 3,687 79 2,434 40.9 14 MEMPHIS, TN 6,239 85 3,353 27.4 15 PHOENIX/MESA, AZ 18,328 87 11,242 44.7 16 SAN DIEGO, CA 12,274 91 7,228 27.7 17 DAYTON, OH 4,147 91 3,054 9.7 18 ATLANTA/SANDY SPRINGS/MARIETTA, GA 21,695 92 18,940 49.1 19 TAMPA/ST PETERSBURGH/CLEARWATER, FL 13,562 93 9,126 57.7 20 TOLEDO, OH 3,119 95 2,550 73.6 21 PALM BEACH, FL 6,387 97 4,545 83.5 22 DALLAS, TX 14,717 102 8,180 17.9 23 COLUMBUS, OH 7,265 104 5,330 18.0 24 INDIANAPOLIS, IN 6,604 109 4,829 4.3 25 SARASOTA/BRADENTON/VENICE, FL 3,308 112 2,319 30.2 26 LOS ANGELES/LONG BEACH, CA 29,501 113 18,043 31.0 27 ORLANDO, FL 7,189 114 5,428 59.9 28 WARREN/FARMINGTON HILLS/TROY, MI 9,025 116 6,797 46.2 29 FORT WORTH/ARLINGTON, TX 6,328 118 3,438 15.8 30 CINCINNATI, OH 6,144 145 4,857 1.0 31 ORANGE, CA 6,899 147 4,295 30.1 32 WORCHESTER, MA 2,069 150 1,661 122.4 33 JACKSONVILLE, FL 3,501 156 3,076 17.4 34 TUCSON, AZ 2,514 162 1,452 22.6 35 SAN ANTONIO, TX 4,300 167 2,285 29.6 36 HOUSTON/BAYTOWN/SUGARLAND, TX 11,960 171 8,500 59.1 37 SPRINGFIELD, MA 1,637 172 1,219 150.8 11 WASHINGTON/ARLINGTON /ALEXANDRIA, 38 DC-VA-MD 9,099 182 6,672 50.4 49 39 ESSEX, MA 1,605 183 1,181 127.6 99
40 NEWHAVEN/MILFORD, CT 1,850 188 2,454 63.4 41 CHICAGO, IL 16,314 188 15,554 14.6 42 VENTURA, CA 1,400 190 1,371 41.9 43 SAN JOSE/SUNNYVALE/SANTA CLARA, CA 3,245 192 2,201 51.6 44 AUSTIN/ROUND ROCK, TX 3,063 193 1,608 12.2 45 GARY, IN 1,408 200 1,042-15.2 46 CHARLOTTE/GASTONIA, NC 3,148 208 2,684 15.2 47 NEWARK, NJ 3,970 211 2,634 30.5 48 BOSTON/QUINCY, MA 3,386 220 2,680 146.1 49 TACOMA, WA 1,369 221 974 19.7 50 LAKE/KENOSHA, IL-WI 1,110 222 1,148 18.0 51 MILWAUKEE/WAUKESHA/WST ALLIS, WI 2,870 224 2,210 92.5 52 CAMDEN, NJ 1,225 227 779 16.4 53 LITTLE ROCK/NORTH LITTLE ROCK, AR 1,250 227 661 64.4 54 KANSAS CITY, MO-KS 3,659 234 2,425 1.8 55 EDISON, NJ 3,787 244 2,415 10.5 56 ST LOUIS, MO-IL 4,820 251 4,144 15.2 57 CAMBRIDGE/NEWTON/FRAMINGHAM, MA 2,278 257 1,586 131.5 58 TULSA, OK 1,497 259 1,245 19.1 59 NASHVILLE/DAVIDSON, TN 2,224 274 1,331 14.6 60 SCRANTON/WILKES/BARRE/ HAZLETON, PA 898 286 458 99.1 61 HARTFORD, CT 1,674 290 2,437 65.6 62 BRIDGEPORT/STAMFORD/NORWALK, CT 1,171 296 1,571 75.3 63 SALT LAKE CITY, UT 1,253 299 1,256 34.5 64 OKLAHOMA CITY, OK 1,639 309 1,297 24.7 65 BALTIMORE/TOWSON, MD 3,516 310 2,884 75.0 57 66 LOUISVILLE, KY-IN 1,696 314 1,287-1.8-1 67 RALEIGH/CARY, NC 1,242 319 1,076 16.8 10
68 69 BETHESDA/FREDERICK/ GAITHERSBURG, MD 1,362 323 1,027 41.7 MINNEAPOLIS/ST PAUL/BLOOMINGTON, MN-Wi 3,699 349 2,812 13.2 70 PHILADELPHIA, PA 4,456 360 3,629 6.9 71 OMAHA/COUNCIL BLUFFS, NE-IA 846 401 795 46.4 72 KNOXVILLE, TN 701 426 449 9.5 73 SUFFOLK/NASSAU, NY 2,321 429 3,166 75.1 74 PITTSBURGH, PA 2,548 432 1,526-0.5 75 SEATTLE/BELLEVUE/EVERETT, WA 2,318 456 1,665 7.6 76 EL PASO, TX 527 463 308-22.4 77 NEW YORK/WAYNE/WHITE PLAINS, NY-NJ 9,240 472 7,302 19.1 78 NEW ORLEANS, LA 1,212 480 754 23.0 79 WILMINGTON, DE-NJ 543 508 504 201.8 80 BUFFALO/CHEEKTOWAGA/ TONAWANDA, NY 960 541 643 67.9 81 POUGHKEEPSIE/NEWBURGH/MIDDLETOWN, NY 446 543 279 43.8 82 PROVIDENCE/NEW BEDFORD, RI 816 549 1,204 294.8 PORTLAND/VANCOUVER /BEAVERTON, OR- 83 WA 1,474 582 1,420 11.3 84 ROCHESTER, NY 695 631 617-39.3 85 WICHITA, KS 343 736 171-30.5 86 GREENSBORO/HIGHPOINT, NC 405 744 379-34.0 87 SAN FRANCISCO, CA 940 775 926 1.3 88 ALBANY/SCHENECTADY/TROY 449 836 232-17.7 89 ALBUQUERQUE, NM 387 880 372-28.5 90 BIRMINGHAM/HOOVER, AL 451 1,001 342-66.3 NORFOLK/VIRGINIA BEACH/NEWPORT 91 NEWS, VA 580 1,013 471 17.8 92 CHARLESTON, SC 254 1,040 247-5.4 93 COLUMBIA, SC 279 1,064 271 51.4 48 94 RICHMOND, VA 448 1,103 395 223.8 33 95 SYRACUSE, NY 249 1,139 156 20.0 48
96 ALLENTOWN/BETHLEHEM/EASTON, PA 204 1,493 187-34.6 97 HONOLULU, HI 197 1,672 163 6.5 98 BATON ROUGE, LA 147 2,074 136-20.9 99 MCALLEN/EDINBURG/PHARR, TX 106 2,185 110 5.8 100 GREENVILLE, SC 79 3,289 65-16.7
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 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 www.foreclosurepulse.com.