MARYLAND FORECLOSURES DECREASE 47 PERCENT IN FEBRUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 36 Percent From a Year Ago

 

IRVINE, Calif. – March 26, 2007 – Maryland reported 371 foreclosure filings in February, a 47 percent decrease from the previous month, but a 36 percent increase from February 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 850,000 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.

 

Maryland foreclosures have gone down in February by almost half,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state has recently been recognized for its creation and retention of high-paying jobs and low unemployment rates. If these trends continue, it is likely that we will see foreclosures continue to decrease.”

 

Maryland ranked 34th in the country in total foreclosures for February. The state’s foreclosure rate of one foreclosure filing for every 5,775 households ranks it among the 10 lowest states in the country.

 

Montgomery County reports highest state total

Montgomery County reported the highest county total with 109 foreclosure filings for the month. Anne Arundel County and Prince George’s County came in second, each reporting 84 foreclosure filings in February.

 

Highest foreclosure rate in state found in Anne Arundel County

Documenting one foreclosure filing for every 2,225 households — 2.6 times the state average — Anne Arundel County tallied the state’s highest foreclosure rate for February. Second highest rate in the state was reported in Montgomery County with one foreclosure filing for every 3,068 households — 1.9 times the state average. Charles County reported the third highest rate, one foreclosure filing for every 3,337 households — 1.7 times the state average.

 

State contributes less than 1 percent to national total

Total foreclosure filings in Maryland accounted for less than 1 percent of the 130,786 filings nationwide in February. The national total was down 4 percent from the previous month, but still up 12 percent from February 2006. The nation’s foreclosure rate increased slightly to one foreclosure filing for every 884 households during 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 – February 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

29,662

47,127

9,404

22,479

22,114

130,786

884

n/a

n/a

Maryland

131

226

0

0

14

371

5,775

0.15

n/a

 

 

 

 

 

 

 

 

 

 

Allegany

0

2

0

0

0

2

16,042

0.06

0.36

Anne Arundel

47

28

0

0

9

84

2,225

0.40

2.59

Baltimore

1

13

0

0

0

14

22,410

0.04

0.26

Baltimore City

7

14

0

0

1

22

13,658

0.06

0.42

Calvert

1

6

0

0

0

7

3,654

0.24

1.58

Carroll

0

4

0

0

0

4

13,565

0.07

0.43

Cecil

0

3

0

0

0

3

11,487

0.08

0.50

Charles

0

13

0

0

0

13

3,377

0.26

1.71

Dorchester

0

0

0

0

0

0

n/a

0.00

0.00

Frederick

2

16

0

0

0

18

4,057

0.22

1.42

Harford

0

1

0

0

0

1

83,146

0.01

0.07

Howard

0

4

0

0

0

4

23,205

0.04

0.25

Montgomery

70

35

0

0

4

109

3,068

0.29

1.88

Prince George‘s County

2

82

0

0

0

84

3,600

0.25

1.60

Queen Anne’s County

0

0

0

0

0

0

 n/a

0.00

0.00

Saint Marys

0

3

0

0

0

3

11,360

0.08

0.51

Somerset

0

0

0

0

0

0

 

0.00

0.00

Talbot

0

1

0

0

0

1

16,500

0.05

0.35

Washington

1

0

0

0

0

1

52,972

0.02

0.11

Wicomico

0

1

0

0

0

1

34,401

0.03

0.17

Worcester

0

0

0

0

0

0

 n/a

0.00

0.00

 

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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