OCTOBER ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE
Total Up 175 Percent From a Year Ago
IRVINE, Calif. – Nov. 10, 2006 – The District of Columbia reported 22 properties entering some stage of the foreclosure process in October, a 100 percent increase from the 11 properties reported in September, and a 175 percent jump from the eight properties reported for the same month last year, according to the RealtyTrac™ October 2006 U.S. Foreclosure Market Report.
RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 700,000 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.
“Though its economy remains strong, the District of Columbia has realized a spike in foreclosure activity both compared to last month and a year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “This trend may continue as winter approaches, since rising energy prices and higher interest rates could push a growing number of homeowners into foreclosure.”
The District has little impact on national total
The District of Columbia’s foreclosure activity accounted for less than 1 percent of the 115,568 properties entering some stage of foreclosure nationwide in October. The national total represents a 3 percent increase from the 112,210 foreclosures reported in September. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,001 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 by County – October 2006
1 in every # households
District of Columbia
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 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.
Atomic Public Relations