District of Columbia Foreclosure Activity Falls in Third Quarter

Total filings down 8 percent compared to the second quarter

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 697 District of Columbia properties during the third quarter, an 8 percent decrease from the previous quarter and down 41 percent from the third quarter of 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

For September, District of Columbia reported 309 properties with foreclosure filings, a 58 percent increase from the previous month, but still 26 percent below the level reported for the same month last year. One in every 923 District of Columbia housing units received a foreclosure filing in September.

 

“District of Columbia foreclosure activity fell in the third quarter of 2010, with fewer filings than were reported for the previous quarter and far fewer than were reported for the third quarter of 2009,” said James J. Saccacio, chief executive officer of RealtyTrac. “Contributing to this improvement is the District’s recent employment growth, which appears far stronger than in any state in the nation at the moment.”

 

One in every 409 District of Columbia housing units received a foreclosure filing during the quarter.

 

District a minor contributor to nation’s foreclosure total for the quarter

Less than 1 percent of 930,437 properties with foreclosure filings reported nationwide during the third quarter were located in District of Columbia. Total U.S. activity increased nearly 4 percent from the second quarter, but was down fractionally from the level reported for the third quarter 2009. One in every 139 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction 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). If more than one foreclosure document is received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

District of Columbia Foreclosure Rates – Third Quarter 2010

 

 

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

116,349

153,298

243,869

128,576

288,345

930,437

139

n/a

n/a

District of Columbia

0

0

523

0

174

697

409

0.34

n/a

 

 

 

 

 

 

 

 

 

 

 

 

District of Columbia Foreclosure Totals – Third Quarter 2010

 

 

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Q2 10

% Chg Q3 09

 

 

 

 

 

 

 

 

 

 

United States

116,349

153,298

243,869

128,576

288,345

930,437

139

3.90

-0.79

District of Columbia

0

0

523

0

174

697

409

-7.56

-41.08

 

 

 

 

 

 

 

 

 

 

 

 

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