DISTRICT OF COLUMBIA FORECLOSURES DECREASE 73 PERCENT IN JULY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Down 87 Percent From a Year Ago

 

IRVINE, Calif. – July 31, 2006 – District of Columbia reported three properties entering some stage of the foreclosure process in July, a 73 percent decrease in activity from the 11 properties reported in June, and 87 percent below the 23 properties reported for the same month last year, according to the RealtyTrac™ July 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with more than 600,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, AOL Real Estate and Knight Ridder Online.

 

“Second quarter job growth was strong in the District of Columbia, reflecting the area’s expanding professional and business services sector,” said James J. Saccacio, chief executive officer of RealtyTrac. “This strong growth supports the district’s low foreclosure rate.”

 

The district’s foreclosure rate is one new foreclosure filing for every 91,615 households – a very low rate as compared to those of the 50 states.

 

District of Columbia Total Has Little Impact on Monthly National Total

District of Columbia foreclosures accounted for less than 1 percent of the 92,845 properties entering some stage of foreclosure nationwide in July. The national total represents a 5 percent increase from June when a total 88,194 foreclosures were reported. The nation’s foreclosure rate also increased to one new foreclosure filing for every 1,245 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: Pre-foreclosures — Notice of Default (NOD) and Lis Pendens (LIS); Foreclosures — 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).

 

                             District of Columbia Foreclosure Market – July 2006

 

      Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

District of Columbia

0

0

0

0

3

3

91,615

0.01

 

 

 

 

 

 

 

 

 

 

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, 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 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 AOL Real Estate, MSN Real Estate and Yahoo! Real Estate. For more information, visit www.realtytrac.com.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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