MARYLAND FORECLOSURE ACTIVITY DOWN 2 PERCENT IN DECEMBER

Yearly Foreclosure Total Up 1,479 Percent From December 2006

 

IRVINE, Calif. – Jan. 25, 2008 – Maryland reported 3,079 foreclosure filings in December, a 2 percent decrease from the previous month, but still a 1,479 percent increase from December 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 decreased slightly in December, they are still up more than 15 times what they were this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that the state’s home sales declined more than all other states except Nevada during the past year. This is likely a factor in the overall foreclosure rise.”

 

Maryland ranked 19th in the country in total foreclosures reported for December. The state’s foreclosure rate of one foreclosure filing for every 738 households ranked it 19th among the 50 states.

 

Three counties account for largest share of state foreclosure filings

Three counties accounted for 59 percent of all foreclosure filings in Maryland for December. Prince George’s County held the highest foreclosure total for the month, reporting 979 foreclosure filings. Montgomery County came in second with 428 foreclosure filings, followed by Baltimore City with 420 foreclosure filings.

 

Prince George’s County posts highest foreclosure rate

Prince George’s County reported the highest foreclosure rate in the state for December, one foreclosure filing for every 321 households — 2.3 times the state average and 1.8 times the national average. Caroline County came in second with a rate of one foreclosure filing for every 352 households — 2.1 times the state average and 1.6 times the national average. Charles County posted the third highest foreclosure rate, one foreclosure filing for every 380 households — 1.9 times the state average and 1.5 times the national average.

 

State contributes 1 percent to nation’s monthly total

Total foreclosure filings in Maryland accounted for 1 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate decreased to one foreclosure filing for every 577 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 – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Maryland

0

6

1,944

888

241

3,079

738

0.78

n/a

 

 

 

 

 

 

 

 

 

 

Allegany

0

0

14

0

0

14

2,363

0.24

0.31

Anne Arundel

0

0

89

53

20

162

1,231

0.47

0.60

Baltimore

0

1

152

160

37

350

927

0.62

0.80

Baltimore City

0

2

199

171

48

420

701

0.82

1.05

Calvert

0

0

62

4

6

72

440

1.31

1.68

Caroline

0

0

14

16

7

37

352

1.64

2.10

Carroll

0

0

25

0

2

27

2,237

0.26

0.33

Cecil

0

0

29

0

1

30

1,302

0.44

0.57

Charles

0

0

114

12

6

132

380

1.52

1.94

Dorchester

0

0

19

0

0

19

825

0.70

0.90

Frederick

0

0

81

0

1

82

1,014

0.57

0.73

Garrett

0

0

8

0

0

8

2,282

0.25

0.32

Harford

0

0

47

26

13

86

1,071

0.54

0.69

Howard

0

0

30

0

0

30

3,371

0.17

0.22

Kent

0

0

4

0

0

4

2,772

0.21

0.27

Montgomery

0

1

225

163

39

428

833

0.69

0.89

Prince George’s County

0

1

681

255

42

979

321

1.80

2.30

Queen Anne’s County

0

0

19

0

1

20

940

0.61

0.79

Saint Mary’s

0

1

27

0

0

28

1,400

0.41

0.53

Somerset

0

0

9

0

0

9

1,176

0.49

0.63

Talbot

0

0

5

2

0

7

2,663

0.22

0.28

Washington

0

0

47

18

16

81

715

0.81

1.03

Wicomico

0

0

28

8

1

37

1,039

0.56

0.71

Worcester

0

0

16

0

1

17

3,076

0.19

0.24

 

 

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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