MARYLAND FORECLOSURES INCREASE 160 PERCENT IN MARCH

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 327 Percent From a Year Ago

 

IRVINE, Calif. – April 23, 2007 – Maryland reported 965 foreclosure filings in March, a 160 percent increase from the previous month, and a 327 percent increase from March 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 900,000 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 increased substantially in March and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Statistics show that home sales throughout the state declined by more than twice the rate of the national average. This is very likely contributing to the sharp increase.”

 

Maryland ranked 23rd in the country in total foreclosures for March. The state’s foreclosure rate of one foreclosure filing for every 2,220 households ranks it 29th among the 50 states.

 

Prince George’s County accounts for largest share of state total

Prince George’s County reported the highest total for the month, with 275 foreclosure filings. Anne Arundel County reported the highest total in March, with 133 foreclosure filings, followed by Baltimore County with 129 foreclosure filings.

 

St. Mary’s County posts highest foreclosure rate

St. Mary’s County posted the highest foreclosure rate in Maryland for March, reporting one foreclosure filing for every 459 households — 4.8 times the state average and 1.7 times the national average. Charles County reported the second highest foreclosure rate, with one foreclosure filing for every 601 households — 3.7 times the state average and 1.3 times the national average. Prince George’s County posted the third highest foreclosure rate, with one foreclosure filing for every 1,100 households — twice the state average. 

 

State contributes 1 percent to national total

Total foreclosure filings in Maryland accounted for 1 percent of the 149,150 foreclosure filings nationwide in March. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 775 U.S. households during 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 – March 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,134

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

Maryland

199

750

0

0

16

965

2,220

0.35

n/a

 

 

 

 

 

 

 

 

 

 

Anne Arundel

80

42

0

0

11

133

1,406

0.55

1.58

Baltimore

2

126

0

0

1

129

2,432

0.32

0.91

Baltimore City

50

24

0

0

1

75

4,006

0.19

0.55

Calvert

0

31

0

0

0

31

825

0.94

2.69

Carroll

0

15

0

0

0

15

3,617

0.21

0.61

Cecil

0

3

0

0

0

3

11,487

0.07

0.19

Charles

0

73

0

0

0

73

601

1.29

3.69

Dorchester

0

0

0

0

0

0

n/a

0.00

0.00

Frederick

0

31

0

0

0

31

2,355

0.33

0.94

Harford

1

2

0

0

0

3

27,715

0.03

0.08

Howard

0

65

0

0

0

65

1,428

0.54

1.55

Kent

0

1

0

0

0

1

9,410

0.08

0.24

Montgomery

59

40

0

0

2

101

3,311

0.23

0.67

Prince George’s County

2

273

0

0

0

275

1,100

0.71

2.02

Queen Anne’s County

0

0

0

0

0

0

n/a

0.00

0.00

Saint Mary’s

0

22

0

0

0

22

459

1.69

4.84

Somerset

0

0

0

0

0

0

n/a

0.00

0.00

Talbot

5

0

0

0

1

6

2,750

0.28

0.81

Washington

0

1

0

0

0

1

52,972

0.01

0.04

Wicomico

0

0

0

0

0

0

n/a

0.00

0.00

Worcester

0

1

0

0

0

1

47,360

0.02

0.05

 

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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