MARYLAND FORECLOSURES INCREASE 8 PERCENT IN APRIL

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 145 Percent From a Year Earlier

 

IRVINE, Calif. – May 18, 2007 – Maryland reported 1,045 foreclosure filings in April, an 8 percent increase in activity from the previous month, and a 145 percent increase from April 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. The state posted the 28th highest foreclosure rate in the country for the month, with one foreclosure filing for every 2,050 households.

 

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.

 

“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 24th in the country in total foreclosures reported for April.

 

Montgomery County leads state in foreclosure activity

Montgomery County led the state, reporting 380 foreclosure filings for the month. Prince George’s County came in second, reporting 169 foreclosure filings. Baltimore County posted the third highest foreclosure total, reporting 144 foreclosure filings.

 

Montgomery County leads state in foreclosure rate for the month

Montgomery County posted the highest foreclosure rate in the state for April, with one foreclosure filing for every 880 households — 2.3 times the state average. Charles County tallied the state’s second highest foreclosure rate, with one foreclosure filing for every 1,071 households — 1.9 times the state average. Calvert County posted the third highest foreclosure rate, with one foreclosure filing for every 1,346 households — 1.5 times the state average.

 

State makes small contribution to national total

Total foreclosure filings in Maryland accounted for 1 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 783 U.S. 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Maryland

487

503

0

0

55

1,045

2,050

0.38

n/a

 

 

 

 

 

 

 

 

 

 

Allegany

0

1

0

0

0

1

32,084

0.02

0.06

Anne Arundel

55

43

0

0

5

103

1,815

0.43

1.13

Baltimore

68

64

0

0

12

144

2,179

0.36

0.94

Baltimore City

14

38

0

0

3

55

5,463

0.14

0.38

Calvert

0

18

0

0

1

19

1,346

0.58

1.52

Caroline

0

1

0

0

0

1

12,028

0.07

0.17

Carroll

1

7

0

0

0

8

6,783

0.12

0.30

Cecil

0

3

0

0

0

3

11,487

0.07

0.18

Charles

0

41

0

0

0

41

1,071

0.73

1.91

Dorchester

0

0

0

0

0

0

n/a

0.00

0.00

Frederick

0

27

0

0

0

27

2,704

0.29

0.76

Garrett

0

0

0

0

0

0

n/a

0.00

0.00

Harford

28

4

0

0

3

35

2,376

0.33

0.86

Howard

3

33

0

0

0

36

2,578

0.30

0.80

Kent

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

306

43

0

0

31

380

880

0.89

2.33

Prince George‘s County

4

165

0

0

0

169

1,789

0.44

1.15

Queen Anne’s County

0

0

0

0

0

0

n/a

0.00

0.00

Saint Mary’s

0

7

0

0

0

7

1,442

0.54

1.42

Somerset

0

0

0

0

0

0

n/a

0.00

0.00

Talbot

6

0

0

0

0

6

2,750

0.28

0.75

Washington

2

7

0

0

0

9

5,886

0.13

0.35

Wicomico

0

0

0

0

0

0

n/a

0.00

0.00

Worcester

0

1

0

0

0

1

47,360

0.02

0.04

 

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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