DISTRICT OF COLUMBIA FORECLOSURES MORE THAN DOUBLE FROM ONE YEAR AGO

No Change in Foreclosure Activity for Month of April

 

IRVINE, Calif. – May 31, 2006 – The District of Columbia reported 13 properties entering some stage of foreclosure in April, no change from the previous month but a 160 percent increase from the five foreclosures reported in April 2005, according to RealtyTrac’s April 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.

 

“Although foreclosures have more than doubled since last year in the District of Columbia, it still holds one the lowest foreclosure rates in the nation,” said James J. Saccacio, chief executive officer of RealtyTrac.  “A steady economy and above-average home price appreciation are keeping these numbers low.”

 

With one foreclosure filing for every 21,142 households (6 percent of the national average), the district’s foreclosure rate ranked among the 10 lowest in the country. Overall the district’s total accounted for less than 0.10 percent of the nation’s foreclosures. In all 45 states reported more activity than the district.

 

Nationwide a total of 91,168 properties entered some stage of foreclosure in April, a 10 percent decrease from the previous month but a 33 percent year-over-year increase from April 2005. This marked the second straight month of decreasing U.S. foreclosure activity. At one foreclosure filing for every 1,268 households, the national foreclosure rate for April was higher than for any month in 2005.

 

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 — April 2006

 

State Name

NODs

NTSs

NFSs

LISs

REOs

Total

1 in every #households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

U.S.

21,244

38,238

2,833

9,071

19,782

91,168

1,268

District of Columbia

0

1

0

0

12

13

21,142

0.13

2.00

 

 

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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