MARYLAND FORECLOSURE ACTIVITY DOWN 23 PERCENT IN JUNE

IRVINE, Calif. – July 28, 2008 – Foreclosure filings were reported on 1,804 Maryland properties in June, a 23 percent decrease from the previous month, and an 18 percent decrease from June 2007, 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 1.5 million properties from over 2,200 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.

 

Maryland’s unemployment rate held steady at 4 percent in June,” said James J. Saccacio, chief executive officer of RealtyTrac. “While the state’s economy finds some stability in terms of jobs, foreclosure activity appears to be improving, at least compared to one month prior.”

 

Maryland ranked 23rd in the country in total properties with foreclosure filings reported for June. One in every 1,275 Maryland households received a foreclosure filing during the month, ranking 27th among the 50 states.

 

Prince George’s County tops in foreclosure activity for June

Prince George’s County led Maryland in total foreclosure activity, reporting 530 properties with foreclosure filings. Montgomery County posted the second highest foreclosure total, reporting 212 properties with foreclosure filings. Baltimore County registered the third highest foreclosure total, reporting 186 properties with foreclosure filings. Baltimore City County came in fourth, reporting 184 properties with foreclosure filings, followed by Anne Arundel County, which reported 126 properties with foreclosure filings for the month.

 

Prince George’s County posts state’s highest foreclosure rate in June

Prince George’s County posted the highest foreclosure rate in Maryland for the month, with one in every 598 households receiving a foreclosure filing in June — 2.1 times the state average. Kent County registered the second highest foreclosure rate, with one in every 613 households receiving a foreclosure filing — 2.1 times the state average. Harford County had the third highest foreclosure rate, with one in every 757 households receiving a foreclosure filing — 1.7 times the state average. Carroll County posted the fourth highest foreclosure rate, with one in every 1,001 households receiving a foreclosure filing during the month. Caroline County came in fifth place, with a rate of one in every 1,029 households receiving a foreclosure filing in June.

 

State a minor contributor to nation’s foreclosure total in June

Maryland accounted for less than 1 percent of the 252,363 properties with foreclosure filings reported nationwide in June. The national total represents a decrease of more than 3 percent from the previous month but is still 53 percent ahead of the total reported for June 2007. One in every 501 U.S. households received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 Foreclosure Market Data by County – June 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

53,544

48,996

53,904

24,356

71,563

252,363

501

n/a

n/a

Maryland

0

1,026

17

318

443

1,804

1,275

0.39

n/a

 

 

 

 

 

 

 

 

 

 

Allegany

0

7

0

3

0

10

3,313

0.15

0.38

Anne Arundel

0

59

0

17

50

126

1,600

0.31

0.80

Baltimore

0

109

0

23

54

186

1,752

0.29

0.73

Baltimore City

0

75

0

48

61

184

1,609

0.31

0.79

Calvert

0

9

0

3

9

21

1,529

0.33

0.83

Caroline

0

9

1

1

2

13

1,029

0.49

1.24

Carroll

0

47

0

9

5

61

1,001

0.50

1.27

Cecil

0

7

1

3

3

14

2,839

0.18

0.45

Charles

0

24

1

10

8

43

1,195

0.42

1.07

Dorchester

0

3

0

3

3

9

1,792

0.28

0.71

Frederick

0

7

2

18

15

42

2,023

0.25

0.63

Garrett

0

2

0

2

0

4

4,643

0.11

0.27

Harford

0

109

0

7

9

125

757

0.66

1.68

Howard

0

63

0

10

15

88

1,168

0.43

1.09

Kent

0

14

1

1

1

17

613

0.82

2.08

Montgomery

0

115

5

38

54

212

1,696

0.30

0.75

Prince George‘s County

0

313

6

101

110

530

598

0.84

2.13

Queen Anne’s County

0

8

0

2

0

10

1,916

0.26

0.67

Saint Mary’s

0

15

0

1

5

21

1,911

0.26

0.67

Somerset

0

2

0

2

3

7

1,542

0.32

0.83

Talbot

0

3

0

3

1

7

2,750

0.18

0.46

Washington

0

12

1

9

25

47

1,271

0.39

1.00

Wicomico

0

6

0

2

5

13

3,030

0.17

0.42

Worcester

0

8

0

2

5

15

3,558

0.14

0.36

 

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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