Buyer's Market Exists in Residential Real Estate Market According to May Data from Foreclosure.com

BOCA RATON, Fla., June 14 /PRNewswire/ -- A one-month increase of 3,859 residential foreclosures nationwide tracked by Foreclosure.com confirms the existence of a buyer's market in the residential real estate sector, the company announced today. Foreclosure.com data also indicates that investors are moving quickly to purchase foreclosed properties, with more than 25,000 foreclosed homes being sold in April 2006.

Nationwide, there were 27,064 new foreclosures during May 2006 -- an increase of 16.6 percent compared to April 2006. The total number of foreclosed homes available for sale in the United States climbed 1.9 percent from the previous month, totaling 89,327 during May.

"The over paying for homes by many buyers in the past couple of years fueled by the availability of low interest rates is really starting to play out in the real estate market," said Foreclosure.com President and CEO Brad Geisen. "The result is we're clearly seeing a buyer's market emerge, but the question that remains is how far will it go?"

Foreclosure.com maintains America's largest and most accurate database of residential foreclosures. Its data, which tracks foreclosures county-by- county, state-by-state, in real time, is used by a variety of investors to assist in making informed purchasing decisions.

Increasing foreclosure rates during May in California and Florida contributed to an overall national upward trend in foreclosed homes, according to new Foreclosure.com data. Additionally, foreclosure rates rose significantly in Alabama, Louisiana and Mississippi, each of which had been experiencing a lower than normal foreclosure rate following Hurricane Katrina.

"In most regions of the country, buyers are currently in the driver's seat when it comes to real estate transactions," Geisen said. "The continued rise in interest rates, which affects monthly housing costs for owners with adjustable-rate mortgages, is triggering a rise in foreclosures and a softening of home sales across the board."

"In essence, this creates a 'perfect storm' for investors who aren't deterred by higher interest rates," Geisen said. "Having access to timely foreclosure data is going to be more important than ever for individuals seeking to make wise purchases -- whether they are experienced real estate investors or first-time homebuyers."

  Foreclosure Data for May 2006:
  *  Note to Editors: Data includes foreclosed properties in the 50 states
     and the District of Columbia.
  ** Data provided by Foreclosure.com.

  ALABAMA                              MONTANA
  Active Properties: 1472              Active Properties: 72
  New Foreclosures: 460                New Foreclosures: 23

  ALASKA                               NEBRASKA
  Active Properties: 48                Active Properties: 507
  New Foreclosures: 4                  New Foreclosures: 140

  ARIZONA                              NEVADA
  Active Properties: 785               Active Properties: 450
  New Foreclosures: 150                New Foreclosures: 175

  ARKANSAS                             NEW HAMPSHIRE
  Active Properties: 846               Active Properties: 96
  New Foreclosures: 348                New Foreclosures: 36

  CALIFORNIA                           NEW JERSEY
  Active Properties: 2152              Active Properties: 349
  New Foreclosures: 623                New Foreclosures: 125

  COLORADO                             NEW MEXICO
  Active Properties: 6184              Active Properties: 332
  New Foreclosures: 1008               New Foreclosures: 116

  CONNECTICUT                          NEW YORK
  Active Properties: 144               Active Properties: 1839
  New Foreclosures: 45                 New Foreclosures: 681

  DELAWARE                             NORTH CAROLINA
  Active Properties: 60                Active Properties: 3682
  New Foreclosures: 24                 New Foreclosures: 1161

  DC                                   NORTH DAKOTA
  Active Properties: 14                Active Properties: 33
  New Foreclosures: 8                  New Foreclosures: 12

  FLORIDA                              OHIO
  Active Properties: 830               Active Properties: 8011
  New Foreclosures: 402                New Foreclosures: 2703

  GEORGIA                              OKLAHOMA
  Active Properties: 7368              Active Properties: 1379
  New Foreclosures: 2630               New Foreclosures: 437

  HAWAII                               OREGON
  Active Properties: 3                 Active Properties: 615
  New Foreclosures: 1                  New Foreclosures: 139

  IDAHO                                PENNSYLVANIA
  Active Properties: 202               Active Properties: 2858
  New Foreclosures: 86                 New Foreclosures: 923

  ILLINOIS                             RHODE ISLAND
  Active Properties: 3382              Active Properties: 67
  New Foreclosures:  751               New Foreclosures: 34

  INDIANA                              SOUTH CAROLINA
  Active Properties: 4584              Active Properties: 2169
  New Foreclosures: 1459               New Foreclosures: 710

  IOWA                                 SOUTH DAKOTA
  Active Properties: 917               Active Properties: 80
  New Foreclosures: 259                New Foreclosures: 30

  KANSAS                               TENNESSEE
  Active Properties: 834               Active Properties: 4351
  New Foreclosures: 274                New Foreclosures: 1476

  KENTUCKY                             TEXAS
  Active Properties: 1431              Active Properties: 12299
  New Foreclosures: 469                New Foreclosures: 4009

  LOUISIANA                            UTAH
  Active Properties: 377               Active Properties: 1735
  New Foreclosures: 149                New Foreclosures: 345

  MAINE                                VERMONT
  Active Properties: 100               Active Properties: 34
  New Foreclosures: 35                 New Foreclosures: 17

  MARYLAND                             VIRGINIA
  Active Properties: 306               Active Properties: 501
  New Foreclosures: 147                New Foreclosures: 167

  MASSACHUSETTS                        WASHINGTON
  Active Properties: 434               Active Properties: 687
  New Foreclosures: 133                New Foreclosures: 125

  MICHIGAN                             WEST VIRGINIA
  Active Properties: 8135              Active Properties: 435
  New Foreclosures: 2163               New Foreclosures: 105

  MINNESOTA                            WISCONSIN
  Active Properties: 1445              Active Properties: 1048
  New Foreclosures: 344                New Foreclosures: 309

  MISSISSIPPI                          WYOMING
  Active Properties: 548               Active Properties: 40
  New Foreclosures: 213                New Foreclosures: 15

  MISSOURI
  Active Properties: 3057
  New Foreclosures: 866


  About Foreclosure.com

With more than 1.2 million foreclosure, preforeclosure, bankruptcy, FSBO and tax lien listings in one place, Foreclosure.com delivers America's largest and most accurate searchable database of foreclosed homes and investment property information to its customers and business partners. Based in Boca Raton, Florida, Foreclosure.com works with hundreds of top lending institutions and government agencies to list diverse property types on its Web site, including Real Estate Owned (REO); Department of Housing and Urban Development (HUD); Department of Veterans Affairs (VA); Fannie Mae; and other government agency and financial institution properties; as well as listings from an extensive network of corporate sellers. On the Web: http://www.foreclosure.com/ .