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Detroit, Stockton, Las Vegas Post Highest 2007 Metro Foreclosure Rates According to RealtyTrac(R) Year-End 2007 Metropolitan Foreclosure Market Report(TM)

IRVINE, Calif., Feb. 13 PRNewswire — RealtyTrac(R) (http://www.realtytrac.com), the leading online marketplace for foreclosure properties, today released its Year-End 2007 Metropolitan Foreclosure Report, which shows Detroit, Stockton, Calif., and Las Vegas documented the three highest foreclosure rates among the nation's 100 largest metro areas during 2007.

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.

"As expected, the number of properties entering some stage of foreclosure in 2007 was up in the vast majority of the nation's 100 largest metro areas, with 86 metros reporting increases from 2006," said James J. Saccacio, chief executive officer of RealtyTrac. "Most of the metro areas with the highest foreclosure rates were either cities like Stockton and Las Vegas, which experienced meteoric growth and unsustainable price appreciation over the past few years, or cities like Detroit, which are undergoing a more widespread economic downturn along with higher unemployment rates."

California, Ohio, Florida and Michigan cities dominate top 20 metro rates

Fifteen of the metro areas with the top 20 metro foreclosure rates were located in four states: California with six, Ohio with four, Florida with three and Michigan with two.

Detroit registered the highest foreclosure rate among the nation's 100 largest metro areas, with close to 5 percent of its households entering some stage of foreclosure during the year — 4.8 times the national average and up from about 3 percent in 2006. A total of 72,616 foreclosure filings on 41,273 properties were reported in the Detroit metro area in 2007, up 68 percent from 2006. The other Michigan metro area with a foreclosure rate in the top 20 was Warren-Farmington Hills-Troy at No. 17.

With 4.866 percent of its households entering some stage of foreclosure during the year, Stockton, Calif., documented the second highest metro foreclosure rate. A total of 22,184 foreclosure filings on 10,608 properties were reported in the metro area in 2007, up 271 percent from 2006. Other California metros with foreclosure rates in the top 20 were Riverside-San Bernardino at No. 4, Sacramento at No. 5, Bakersfield at No. 7, Fresno at No. 14 and Oakland at No. 16.

Las Vegas posted the third highest metro foreclosure rate among the 100 largest metropolitan areas in 2007, with 4.228 percent of its households entering some stage of foreclosure during the year. A total of 59,983 foreclosure filings on 30,375 properties were reported in the metro area during 2007, up 169 percent from 2006.

Cleveland's 2007 foreclosure rate — 2.972 percent of households entering some stage of foreclosure during the year — ranked sixth highest nationally and was the highest of any Ohio metro area on the list. A total of 49,071 foreclosure filings on 27,848 properties were reported during 2007, up 112 percent from 2006. Other Ohio metros with foreclosure rates in the top 20 were Akron at No. 12, Dayton at No. 15 and Toledo at No. 19.

With 2.724 percent of its households entering some stage of foreclosure in 2007, Miami documented the eighth highest metro foreclosure rate, highest among Florida metro areas. A total of 51,662 foreclosure filings on 25,296 properties were reported in the metro area during 2007, up 106 percent from 2006. Other Florida metro areas with foreclosure rates in the top 20 were Fort Lauderdale at No. 10 and Orlando at No. 20.

Other cities in the top 20 were Denver at No. 9, Atlanta at No. 11, Memphis at No. 13, and Indianapolis at No. 18.

Report methodology

The RealtyTrac Metro Foreclosure Market Report provides the total number of foreclosure filings by metropolitan area, along with the total number of unique addresses entering some stage of foreclosure and percentage of total households entering some stage of foreclosure (foreclosure rate).

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).

Foreclosure Activity for the Nation's 100 Largest MSAs - 2007 Totals Properties %Households %Change Rate Foreclosure with (foreclosure from Rank Metro Area Filings Filings rate) 2006 — U.S. Total 2,203,295 1,285,873 1.033 79.21 — Top 100 Metro Areas Total 1,774,778 1,010,355 1.382 78.23 1 DETROIT/LIVONIA/ DEARBORN, MI 72,616 41,273 4.918 68.15 2 STOCKTON, CA 22,184 10,608 4.866 271.30 3 LAS VEGAS/ PARADISE, NV 59,983 30,375 4.228 169.11 4 RIVERSIDE/ SAN BERNARDINO, CA 102,506 51,739 3.826 186.14 5 SACRAMENTO, CA 49,532 23,772 3.189 272.54 6 CLEVELAND/LORAIN/ ELYRIA/MENTOR, OH 49,071 27,848 2.972 112.43 7 BAKERSFIELD, CA 13,682 7,524 2.960 244.82 8 MIAMI, FL 51,662 25,296 2.724 106.13 9 DENVER/AURORA, CO 49,519 26,632 2.641 27.79 10 FORT LAUDERDALE, FL 45,367 20,801 2.632 110.05 11 ATLANTA/SANDY SPRINGS/ MARIETTA, GA 81,038 50,271 2.531 52.25 12 AKRON, OH 12,359 7,083 2.326 107.53 13 MEMPHIS, TN 22,654 11,291 2.141 30.35 14 FRESNO, CA 12,330 6,208 2.121 168.16 15 DAYTON, OH 14,285 7,812 2.073 145.51 16 OAKLAND, CA 39,483 19,463 2.071 191.06 17 WARREN/FARMINGTON HILLS/TROY, MI 30,378 21,607 2.069 95.19 18 INDIANAPOLIS, IN 25,695 14,591 2.019 7.89 19 TOLEDO, OH 10,056 5,756 1.938 117.29 20 ORLANDO, FL 24,004 15,834 1.932 117.74 21 PALM BEACH, FL 18,561 11,918 1.924 88.90 22 PHOENIX/MESA, AZ 56,040 30,453 1.915 177.00 23 TAMPA/ST PETERSBURG/ CLEARWATER, FL 41,539 24,086 1.908 95.90 24 SARASOTA/ BRADENTON/VENICE, FL 11,807 6,805 1.840 226.69 25 COLUMBUS, OH 24,055 13,823 1.832 86.39 26 SAN DIEGO, CA 38,917 20,217 1.816 157.77 27 JACKSONVILLE, FL 15,149 9,540 1.748 38.99 28 DALLAS, TX 49,133 24,921 1.653 -5.20 29 FORT WORTH/ARLINGTON, TX 25,050 12,295 1.645 2.42 30 CHICAGO, IL 73,469 50,350 1.641 50.22 31 VENTURA, CA 6,261 4,341 1.629 195.11 32 LAKE/KENOSHA, IL-WI 5,034 3,718 1.507 35.45 33 CINCINNATI, OH 21,392 13,119 1.469 104.38 34 CHARLOTTE/GASTONIA, NC 13,032 9,426 1.440 113.50 35 LOS ANGELES/LONG BEACH, CA 93,696 45,415 1.360 137.77 36 ST LOUIS, MO-IL 19,084 15,444 1.279 58.11 37 CAMDEN, NJ 5,237 3,415 1.229 42.35 38 ORANGE, CA 23,002 12,501 1.229 168.15 39 HOUSTON/BAYTOWN/ SUGAR LAND, TX 39,220 24,917 1.221 4.08 40 KANSAS CITY, MO-KS 15,681 10,076 1.177 83.70 41 WASHINGTON/ARLINGTON/ ALEXANDRIA, DC-VA-MD 28,455 19,229 1.160 574.94 42 GARY, IN 5,320 3,114 1.108 41.29 43 NEWHAVEN/MILFORD, CT 7,348 3,790 1.093 340.19 44 SAN ANTONIO, TX 13,699 7,658 1.067 4.56 45 NEWARK, NJ 15,403 8,770 1.049 45.71 46 TUCSON, AZ 7,372 4,239 1.041 75.02 47 TACOMA, WA 5,276 3,107 1.025 38.95 48 GREENSBORO/ HIGHPOINT, NC 3,329 3,078 1.025 137.50 49 MILWAUKEE/WAUKESHA /WST ALLIS, WI 9,856 6,529 1.017 79.47 50 WORCHESTER, MA 6,993 3,094 0.994 169.98 51 SAN JOSE/SUNNYVALE/ SANTA CLARA, CA 11,433 6,173 0.991 161.57 52 SALT LAKE CITY, UT 4,882 3,692 0.984 -16.96 53 RALEIGH/CARY, NC 5,249 3,884 0.982 122.83 54 SUFFOLK/NASSAU, NY 11,880 9,700 0.973 48.41 55 LITTLE ROCK/NORTH LITTLE ROCK, AR 5,396 2,702 0.952 15.52 56 TULSA, OK 5,670 3,532 0.912 -3.66 57 OMAHA/COUNCIL BLUFFS, NE-IA 3,403 3,021 0.890 59.67 58 AUSTIN/ROUND ROCK, TX 10,100 5,166 0.874 -11.75 59 NASHVILLE/DAVIDSON, TN 8,454 5,301 0.869 54.01 60 MINNEAPOLIS/ST PAUL/BLOOMINGTON, MN-WI 12,755 10,798 0.836 146.81 61 EDISON, NJ 15,800 7,723 0.836 43.42 62 OKLAHOMA CITY, OK 7,042 4,054 0.801 -15.44 63 ROCHESTER, NY 3,903 3,404 0.776 126.78 64 ESSEX, MA 5,378 2,251 0.765 190.83 65 HARTFORD, CT 7,427 3,699 0.761 216.97 66 BALTIMORE/TOWSON, MD 10,059 8,003 0.734 544.36 67 SPRINGFIELD, MA 5,190 1,985 0.706 109.83 68 BRIDGEPORT/STAMFORD/ NORWALK, CT 5,091 2,439 0.703 258.15 69 BOSTON/QUINCY, MA 11,165 5,106 0.683 199.47 70 BETHESDA/FREDERICK/ GAITHERSBURG, MD 4,179 2,999 0.682 1288.43 71 ALBUQUERQUE, NM 2,921 2,217 0.651 5.77 72 KNOXVILLE, TN 2,770 1,813 0.607 46.80 73 PORTLAND/VANCOUVER/ BEAVERTON, OR-WA 5,834 5,162 0.602 24.18 74 LOUISVILLE, KY 6,233 3,197 0.601 -12.05 75 BIRMINGHAM/HOOVER, AL 3,069 2,351 0.521 63.15 76 NEW YORK/WAYNE/WHITE PLAINS, NY-NJ 33,714 22,569 0.518 74.04 77 EL PASO, TX 2,317 1,257 0.515 -17.57 78 CAMBRIDGE/NEWTON/ FRAMINGHAM, MA 7,205 2,906 0.496 209.15 79 PHILADELPHIA, PA 16,246 7,899 0.492 -32.09 80 SAN FRANCISCO, CA 5,895 3,485 0.478 116.73 81 SEATTLE/BELLEVUE/EVERETT, WA 9,028 5,016 0.475 16.35 82 BUFFALO/CHEEKTOWAGA/ TONAWANDA, NY 3,850 2,210 0.426 113.53 83 PROVIDENCE/NEW BEDFORD, RI 3,241 1,839 0.411 354.07 84 NEW ORLEANS, LA 4,501 2,318 0.399 215.80 85 WILMINGTON, DE-NJ 1,363 1,012 0.367 157.51 86 PITTSBURGH, PA 9,012 4,040 0.367 -29.58 87 NORFOLK/VIRGINIA BEACH/NEWPORT NEWS, VA 2,321 1,841 0.361 258.17 88 COLUMBIA, SC 1,113 961 0.324 -2.93 89 CHARLESTON, SC 1,043 839 0.318 35.10 90 POUGHKEEPSIE/NEWBURGH/ MIDDLETOWN, NY 1,391 656 0.271 12.52 91 BATON ROUGE, LA 997 823 0.270 -59.81 92 SCRANTON/WILKES/ BARRE/HAZLETON, PA 2,380 685 0.267 23.65 93 WICHITA, KS 1,322 662 0.262 -13.12 94 ALBANY/SCHENECTADY/ TROY, NY 1,617 960 0.256 638.46 95 RICHMOND, VA 1,090 908 0.184 168.64 96 ALLENTOWN/BETHLEHEM/ EASTON, PA 834 526 0.173 12.15 97 HONOLULU, HI 621 517 0.157 52.96 98 MCALLEN/EDINBURG/PHARR, TX 339 305 0.132 -19.74 99 SYRACUSE, NY 935 364 0.128 128.93 100 GREENVILLE, SC 306 213 0.082 -73.47

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

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