MARYLAND FORECLOSURE ACTIVITY DOWN 15 PERCENT IN SEPTEMBER

 

Yearly Total Up 393 Percent From September 2006

 

IRVINE, Calif. – Oct. 26, 2007 – Maryland reported 2,821 foreclosure filings in September, a 15 percent decrease from the previous month, but still a 393 percent increase from September 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.

 

“Although Maryland foreclosures have declined in September, the numbers have risen nearly five times what they were this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Maryland’s home sales have declined at a rate nearly double that of the national average during the past year. This is likely contributing to the overall rise.”

 

Maryland ranked 18th in the country in total foreclosures reported for the month. The state’s foreclosure rate of one foreclosure filing for every 806 households ranked it 15th among the 50 states.

 

Prince George’s County accounts for bulk of state’s foreclosure activity

Prince George’s County documented the highest foreclosure total in Maryland for September, with 598 foreclosure filings. Baltimore City posted the second highest foreclosure total, reporting 496 foreclosure filings for the month. Baltimore County reported the third highest foreclosure total, with 294 foreclosure filings.

 

Charles County leads state in foreclosure rate

Charles County reported the highest foreclosure rate in the state for September, with one foreclosure filing for every 369 households — 2.2 times the state average. Caroline County posted the second highest foreclosure rate, with one foreclosure filing for every 483 households — 1.7 times the state average. Prince George’s County posted the third highest foreclosure rate, with one foreclosure filing for every 525 households.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Maryland accounted for 1 percent of the 223,538 foreclosure filings nationwide in September. The national total represents an 8 percent decrease from the previous month but is still 99 percent above the total reported for September 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 557 U.S. households for the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. 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 – September 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,234

63,405

21,925

51,172

39,802

223,538

557

n/a

n/a

Maryland

0

2

1,729

871

219

2,821

806

0.69

n/a

 

 

 

 

 

 

 

 

 

 

Allegany

0

0

20

9

0

29

1,141

0.49

0.71

Anne Arundel

0

0

147

54

12

213

936

0.60

0.86

Baltimore

0

0

128

143

23

294

1,104

0.50

0.73

Baltimore City

0

0

187

246

63

496

593

0.94

1.36

Calvert

0

0

47

5

4

56

565

0.99

1.43

Caroline

0

0

10

12

5

27

483

1.15

1.67

Carroll

0

0

20

11

37

68

888

0.63

0.91

Cecil

0

0

43

5

4

52

751

0.74

1.07

Charles

0

0

123

6

7

136

369

1.51

2.19

Dorchester

0

0

7

1

1

9

1,741

0.32

0.47

Frederick

0

1

106

31

6

144

578

0.96

1.39

Garrett

0

0

2

1

0

3

6,084

0.09

0.13

Harford

0

0

88

29

6

123

749

0.74

1.08

Howard

0

0

61

33

3

97

1,043

0.53

0.77

Kent

0

0

3

0

0

3

3,696

0.15

0.22

Montgomery

0

1

140

134

17

292

1,221

0.46

0.66

Prince George‘s County

0

0

475

105

18

598

525

1.06

1.53

Queen Anne’s County

0

0

14

0

1

15

1,253

0.44

0.64

Saint Mary’s

0

0

32

3

3

38

1,031

0.54

0.78

Somerset

0

0

3

5

1

9

1,176

0.47

0.68

Talbot

0

0

1

5

0

6

3,106

0.18

0.25

Washington

0

0

50

13

4

67

865

0.64

0.93

Wicomico

0

0

11

14

2

27

1,424

0.39

0.56

Worcester

0

0

11

6

2

19

2,753

0.20

0.29

 

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 homes, 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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