Maryland Foreclosure Activity Declines in January

Statewide filings down 23 percent from December; Up 41 percent from a year ago

 

Foreclosure activity in Maryland decreased in January to 5,229 properties with foreclosure filings, a 23 percent decline from December 2009 but still up 41 percent from January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Maryland foreclosures were down in January,” said James J. Saccacio, chief executive officer of RealtyTrac. “The largest decreased was in default notices, which fell 51 percent for the month. The state’s unemployment rate remains well below the national average, and home sales have really picked up. If these trends continue, we may see foreclosures continue to decline here this year.”

 

Maryland ranked 12th in the country in total foreclosures reported for the month. With one in every 446 housing units receiving a foreclosure filing, its foreclosure rate ranked 13th among the 50 states.

 

Baltimore City County posts top foreclosure rate in the state for January

Baltimore City County posted the state’s highest county foreclosure rate in January, with one in every 235 housing units receiving a foreclosure filing — 1.9 times the state average. Prince George’s County was second, with one in every 285 housing units receiving a foreclosure filing — 1.6 times the state average. Charles County came in third highest, with one in every 289 housing units receiving a foreclosure filing — 1.5 times the state average. Frederick County posted the fourth highest foreclosure rate, where one in every 301 housing units received a foreclosure filing during the month — 1.5 times the state average. Queen Anne’s County posted the fifth highest foreclosure rate, where one in every 366 housing units received a foreclosure filing during the month.

 

Baltimore City County also dominates state in total foreclosure filings for January

Baltimore City County led all counties, totaling 1,251 properties with foreclosure filings for the month. Prince George’s County was second highest, documenting 1,127 properties with foreclosure filings. Reporting 545 properties with foreclosure filings for the month, Baltimore County had the third highest foreclosure total. Montgomery County came in fourth highest, reporting 486 properties with foreclosure filings, followed by Anne Arundel County where 410 properties with foreclosure filings were reported.

 

State responsible for 2 percent of nation’s foreclosure total in January

Maryland accounted for 2 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

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: DefaultNotice 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.

 

 

Maryland Top Foreclosure Rates By County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Maryland

0

1,687

0

2,744

798

5,229

446

0.92

n/a

 

 

 

 

 

 

 

 

 

 

Baltimore City

0

342

0

574

335

1,251

235

1.72

1.90

Prince George’s

0

266

0

747

114

1,127

285

1.42

1.56

Charles

0

63

0

106

16

185

289

1.40

1.54

Frederick

0

98

0

162

30

290

301

1.35

1.48

Queen Anne’s

0

22

0

25

7

54

366

1.11

1.22

 

 

 

Maryland Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Maryland

0

1,687

0

2,744

798

5,229

446

-22.74

41.44

 

 

 

 

 

 

 

 

 

 

Baltimore City

0

342

0

574

335

1,251

235

31.96

350.00

Prince George’s

0

266

0

747

114

1,127

285

-46.54

0.27

Baltimore

0

222

0

259

64

545

602

-9.47

158.29

Montgomery

0

151

0

250

85

486

751

-21.23

-20.20

Anne Arundel

0

187

0

195

28

410

498

-12.58

28.13

 

 

 

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