MARYLAND FORECLOSURE ACTIVITY DOWN 11 PERCENT IN NOVEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Activity Up 638 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 19, 2007 – Maryland reported 3,129 foreclosure filings in November, an 11 percent decrease from the previous month, but still a 638 percent increase from November 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

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.

 

“Unemployment is up in Maryland due to a major influx in new job seekers to the state,” said James J. Saccacio, chief executive officer of RealtyTrac. “While foreclosure activity is down from last month, it remains grossly elevated compared to the same time last year as the state’s economy deals with its lagging job market.”

 

Maryland ranked 18th in the country in total foreclosures reported for November. The state’s foreclosure rate of one foreclosure filing for every 727 households ranked it 12th among the 50 states.

 

Prince George’s County leads state in foreclosure activity

Prince George’s County led the state with 797 foreclosure filings for the month. Baltimore City County reported the second highest state total, with 487 foreclosure filings. Montgomery County posted the third highest foreclosure total, with 431 foreclosure filings. Baltimore County had the fourth highest foreclosure total, with 331 filings entering some part of the foreclosure pipeline.

 

Prince George’s County posts highest foreclosure rate for November

Prince George’s County tallied the highest foreclosure rate in Maryland for November, one foreclosure filing for every 394 households — 1.8 times the state average and 1.6 times the national average. Charles County registered the second highest foreclosure rate, one foreclosure filing for every 421 households — 1.7 times the state average and 1.5 times the national average. Calvert County posted the third highest foreclosure rate, one foreclosure filing for every 555 households.

 

State makes a contribution to national total

Total foreclosure filings in Maryland accounted for 2 percent of the 201,950 foreclosure filings reported nationwide in November. The national total represents a 10 percent decrease from the previous month, but is still 68 percent above the total reported for November 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 617 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

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

 

 

                     Maryland Foreclosure Market by County – November 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

United States

35,096

51,696

20,269

48,451

46,438

201,950

617

n/a

n/a

Maryland

0

21

1,687

1,118

303

3,129

727

0.85

n/a

 

 

 

 

 

 

 

 

 

Allegany

0

0

19

3

10

32

1,034

0.60

0.70

Anne Arundel

0

0

144

86

36

266

750

0.82

0.97

Baltimore

0

1

118

188

24

331

981

0.63

0.74

Baltimore City

0

4

163

257

63

487

604

1.02

1.20

Calvert

0

0

38

14

5

57

555

1.11

1.31

Caroline

0

0

9

0

0

9

1,448

0.43

0.50

Carroll

0

0

21

4

9

34

1,777

0.35

0.41

Cecil

0

0

31

8

5

44

887

0.69

0.82

Charles

0

3

93

13

10

119

421

1.46

1.72

Dorchester

0

0

3

0

0

3

5,224

0.12

0.14

Frederick

0

1

64

18

4

87

956

0.64

0.76

Garrett

0

0

5

2

0

7

2,608

0.24

0.28

Harford

0

0

51

22

15

88

1,047

0.59

0.69

Howard

0

0

54

41

7

102

992

0.62

0.73

Kent

0

0

2

0

0

2

5,545

0.11

0.13

Montgomery

0

7

200

173

51

431

827

0.75

0.88

Prince George‘s County

0

2

533

226

36

797

394

1.56

1.84

Queen Anne’s County

0

0

7

2

0

9

2,088

0.30

0.35

Saint Marys

0

0

32

3

1

36

1,089

0.57

0.67

Somerset

0

0

4

8

3

15

706

0.87

1.03

Talbot

0

1

3

4

1

9

2,071

0.30

0.35

Washington

0

1

57

21

11

90

644

0.96

1.13

Wicomico

0

1

28

14

7

50

769

0.80

0.94

Worcester

0

0

8

11

5

24

2,179

0.28

0.33

 

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 construction properties, with more than 1.3 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 more information, visit (www.realtytrac.com).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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