District of Columbia Foreclosure Activity Higher in Second Quarter

Activity level rises 48 percent from Q1

Foreclosure filings decrease 31 percent mid-year; down 4 percent in June

 

The District of Columbia reported 754 properties with foreclosure filings for the second quarter of 2010, a 48 percent increase from the first quarter of the year but is nearly 24 percent below the level reported for the second quarter of 2009.

 

Activity level in the Federal City rose during the first half of 2010, but dropped in June. For the first six months of the year, the District of Columbia reported 1,221 properties with foreclosure filings, a 29 percent drop in activity from the second half of 2009, and 31 percent below the level reported mid-year 2009. In June the state tallied 259 properties with foreclosure filings, a decrease of 4 percent from the previous month and down 38 percent from June 2009.

 

“The district foreclosures were down during the first half of 2010 and during the month of June,” said James J. Saccacio, chief executive officer of RealtyTrac. “The region had a surge in home values during the past year while most states saw significant declines. This has definitely given home owners more options before falling into the foreclosure process.”

 

One in every 378 housing units received a foreclosure filing in the district during the quarter, the 36th highest foreclosure rate when compared to the 50 states.

 

District contributes less than 1 percent to nation’s quarterly total

Foreclosure activity in the district represented less than 1 percent of the 895,521 properties with foreclosure filings reported nationwide for the second quarter of 2010. Total U.S. activity fell by almost 4 percent from the previous quarter and was virtually unchanged from the second quarter 2009. One in every 144 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

District of Columbia Top Foreclosure Rates By County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

n/a

n/a

District of Columbia

0

0

650

0

104

754

378

0.38

n/a

 

 

 

 

 

 

 

 

 

 

District of Columbia

0

0

650

0

104

754

378

0.38

n/a

 

 

District of Columbia Top Foreclosure Totals by County – Q2 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q1 2010

% Chg Q2 2009

 

 

 

 

 

 

 

 

 

 

United States

102,797

169,209

251,435

102,118

269,962

895,521

144

-3.94

0.64

District of Columbia

0

0

650

0

104

754

378

48.43

-23.92

 

 

 

 

 

 

 

 

 

 

District of Columbia

0

0

650

0

104

754

378

48.43

-23.92

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