District of Columbia Foreclosures Down in 2010

Foreclosure filings fall 33 percent from 2009

 

Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 2,153 District of Columbia properties for 2010, down 33 percent from a year ago and 49 percent below the level reported for 2008, according to the RealtyTrac® Year-End 2010 U.S. Foreclosure Market Report™.

 

Foreclosure filings were reported on 52 district properties in December 2010, a 15 percent decrease from November, and 70 percent lower than the level reported in December 2009. One in every 5,488 housing units received a foreclosure filing during the month.

 

“District foreclosures were down in 2010,” said James J. Saccacio, chief executive officer of RealtyTrac. The largest decrease was in default notices, which dropped 87 percent for the year. “Though still above the national average, the region’s unemployment rate dropped significantly last year, and home values appreciated more than most states. If these trends continue, we may see foreclosures continue to fall here this year.”

The District of Columbia ranked 46th nationwide in total foreclosures reported when compared to the 50 states. With one in every 133 housing units receiving a foreclosure filing during the year, the District of Columbia’s foreclosure rate ranked 40th.

District contributes less than 1 percent to total foreclosure activity in 2010

The district accounted for less than 1 percent of the 2,871,891 properties with foreclosure filings reported nationwide for 2010. Total U.S. activity increased by almost 2 percent from 2009, and was more than 23 percent above the level reported in 2008. One in every 45 U.S. housing units received a foreclosure filing during the year.

 

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 Top Foreclosure Rates By County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

45

n/a

n/a

District of Columbia

0

0

1,591

0

562

2,153

133

0.34

n/a

 

 

 

 

 

 

 

 

 

 

District of Columbia

0

0

1,591

0

562

2,153

133

0.34

n/a

 

District of Columbia Top Foreclosure Totals by County: Year-End 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg 2009

% Chg 2008

 

 

 

 

 

 

 

 

 

 

United States

223,094

538,099

759,560

312,085

1,039,053

2,871,891

492

1.67

23.23

District of Columbia

0

0

1,591

0

562

2,153

133

-33.45

-48.52

 

 

 

 

 

 

 

 

 

 

District of Columbia

0

0

1,591

0

562

2,153

133

-33.45

-48.52

 

 

 

District of Columbia Top Foreclosure Rates: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

n/a

n/a

District of Columbia

0

0

17

0

35

52

5,488

0.09

n/a

 

 

 

 

 

 

 

 

 

 

District of Columbia

0

0

17

0

35

52

5,488

0.09

n/a

 

 

District of Columbia Top Foreclosure Totals: December 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Nov 10

% Chg Dec 09

 

 

 

 

 

 

 

 

 

 

United States

36,935

38,783

88,483

23,699

69,847

257,747

501

-1.75

-26.26

District of Columbia

0

0

17

0

35

52

5,488

-14.75

-69.59

 

 

 

 

 

 

 

 

 

 

District of Columbia

0

0

52

0

38

52

5,488

-14.75

-69.59

 

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