MARYLAND FORECLOSURES INCREASE 237 PERCENT IN JANUARY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Up 13 Percent From a Year Ago

 

IRVINE, Calif. – Feb. 25, 2007 – Maryland documented 657 new foreclosure filings in January, a 237 percent increase from the previous month, and a 13 percent increase from January 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.

 

“Despite its recent increase in foreclosure activity, Maryland’s economy continues to grow and the state’s loan performance remains relatively strong,” said James J. Saccacio, chief executive officer of RealtyTrac.

 

Maryland ranked 29th in the country in total foreclosures reported for January. The state’s foreclosure rate of one new foreclosure filing for every 3,261 households ranked 36th among the 50 states.

 

Prince George’s County accounts for more than a third of the state’s activity

Prince George’s County documented the highest total, reporting 231 foreclosure filings for the month. Baltimore County documented the second highest total in the state, reporting 128 filings. Charles County documented the state’s third highest total, reporting 51 foreclosure filings.

 

Charles County leads state in foreclosure rate

Charles County tallied the highest foreclosure rate in Maryland for January, with one new foreclosure filing for every 861 households — 3.8 times the state average. Calvert County registered the second highest rate, with one new foreclosure filing for every 1,218 households — 2.7 times the state average. Prince George’s County registered the third highest foreclosure rate, with one new foreclosure filing for every 1,309 households — 2.5 times the state average.

 

State makes small contribution to national total

Maryland accounted for 1 percent of the 130,511 foreclosure filings nationwide in January, up 19 percent from the previous month and up 25 percent from January 2006. The nation’s foreclosure rate increased to one new foreclosure filing for every 886 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 – January 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

27,317

52,326

6,983

19,980

23,905

130,511

886

n/a

n/a

Maryland

10

639

0

0

8

657

3,261

0.27

n/a

 

 

 

 

 

 

 

 

 

 

Anne Arundel

1

42

0

0

3

46

4,064

0.22

0.80

Baltimore

2

126

0

0

0

128

2,451

0.36

1.33

Baltimore City

1

22

0

0

4

27

11,129

0.08

0.29

Calvert

0

21

0

0

0

21

1,218

0.73

2.68

Carroll

0

15

0

0

0

15

3,617

0.24

0.90

Cecil

0

3

0

0

0

3

11,487

0.08

0.28

Charles

0

51

0

0

0

51

861

1.03

3.79

Dorchester

0

0

0

0

0

0

n/a

0.00

0.00

Frederick

0

34

0

0

0

34

2,148

0.41

1.52

Harford

0

3

0

0

0

3

27,715

0.03

0.12

Howard

0

38

0

0

0

38

2,443

0.36

1.34

Kent

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

2

33

0

0

0

35

9,553

0.09

0.34

Prince George‘s County

4

226

0

0

1

231

1,309

0.68

2.49

Queen Anne’s County

0

0

0

0

0

0

n/a

0.00

0.00

Saint Mary’s

0

19

0

0

0

19

1,794

0.49

1.82

Somerset

0

0

0

0

0

0

n/a

0.00

0.00

Talbot

0

0

0

0

0

0

n/a

0.00

0.00

Washington

0

1

0

0

0

1

52,972

0.02

0.06

Wicomico

0

1

0

0

0

1

34,401

0.03

0.09

Worcester

0

4

0

0

0

4

11,840

0.07

0.28

 

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

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved