MARYLAND FORECLOSURE ACTIVITY UP 49 PERCENT IN AUGUST

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Increases 758 Percent From August 2006

 

IRVINE, Calif. – Sept. 21, 2007 – Maryland reported 3,305 foreclosure filings in August, a 49 percent increase from the previous month, and 758 percent above the number reported in August 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate — one foreclosure filing for every 688 households — was the 14th highest in the nation.

 

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.

 

“Despite its continued spike in foreclosure activity, Maryland’s economy continues to grow and the state’s foreclosure rate remains below the national average,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Maryland ranked 18th in the country in total foreclosures reported for August.

 

Prince George’s County leads the state in foreclosure activity

Prince George’s County led the state in foreclosure activity, with 790 foreclosure filings for the month. Baltimore City County reported the second highest foreclosure total, with 573 foreclosure filings. Montgomery County came in third highest, with 390 foreclosure filings. Baltimore County had the fourth highest foreclosure total, with 334 filings entering some part of the foreclosure pipeline.

 

Charles County posts highest foreclosure rate

Charles County posted the highest foreclosure rate in the state for August, with one foreclosure filing for every 276 households — 2.5 times the state average and 1.9 times the national average. Prince George’s County posted the second highest foreclosure rate, with one foreclosure filing for every 398 households — 1.7 times the state average and 1.3 times the national average. Calvert County posted the third highest foreclosure rate in the state, with one foreclosure filing for every 465 households — 1.5 times the state average. Baltimore City County had the fourth highest foreclosure rate, with one foreclosure filing for every 514 households — 1.3 times the state average.

 

State a contributor to national total

Maryland accounted for 1 percent of the 243,947 foreclosure filings nationwide in August. The national total represents a 36 percent increase from the previous month and is up 115 percent from August 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 510 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 – August 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

56,388

67,632

24,810

52,328

42,789

243,947

510

n/a

n/a

Maryland

0

2

1,926

1,138

239

3,305

688

0.74

n/a

 

 

 

 

 

 

 

 

 

 

Allegany

0

0

15

2

0

17

1,946

0.26

0.35

Anne Arundel

0

0

219

81

10

310

643

0.79

1.07

Baltimore

0

0

136

180

18

334

972

0.53

0.71

Baltimore City

0

0

261

214

98

573

514

0.99

1.34

Calvert

0

0

65

0

3

68

465

1.10

1.48

Caroline

0

0

7

0

0

7

1,862

0.27

0.37

Carroll

0

0

23

15

5

43

1,405

0.36

0.49

Cecil

0

0

37

5

5

47

831

0.61

0.83

Charles

0

0

154

18

10

182

276

1.85

2.50

Dorchester

0

0

11

3

3

17

922

0.55

0.75

Frederick

0

0

90

46

13

149

558

0.91

1.23

Garrett

0

0

1

0

0

1

18,253

0.03

0.04

Harford

0

0

71

19

6

96

960

0.53

0.72

Howard

0

0

50

15

9

74

1,367

0.37

0.50

Kent

0

0

4

0

0

4

2,772

0.18

0.25

Montgomery

0

1

192

177

20

390

914

0.56

0.75

Prince George‘s County

0

0

477

292

21

790

398

1.28

1.73

Queen Anne’s County

0

0

8

1

2

11

1,708

0.30

0.40

Saint Mary’s

0

0

34

7

1

42

933

0.55

0.74

Somerset

0

0

3

4

1

8

1,324

0.39

0.52

Talbot

0

0

7

2

0

9

2,071

0.25

0.33

Washington

0

0

38

34

5

77

752

0.68

0.91

Wicomico

0

0

16

15

2

33

1,165

0.44

0.59

Worcester

0

1

7

8

7

23

2,274

0.22

0.30

 

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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