DISTRICT OF COLUMBIA FORECLOSURES UP 200 PERCENT IN AUGUST

State’s Activity Down 25 Percent From Year Ago

 

IRVINE, Calif. – August 31, 2006 – The District of Columbia reported nine properties entering some stage of the foreclosure process in August, spiking 200 percent from the three properties reported in July, but 25 percent below the 12 properties reported for the same month last year, according to the RealtyTrac™ August 2006 U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with nearly 650,000 properties from more than 2,500 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate, The Wall Street Journal’s Real Estate Journal and Knight Ridder Online.

 

“Although the District’s foreclosures have tripled in August, the state still holds one of the lowest activity levels in the country,” said James J. Saccacio, chief executive officer of RealtyTrac. “In the first quarter of this year, the District ranked fifth in the nation for home value appreciation.  This, combined with strong job growth, is most likely keeping foreclosure numbers low.”

 

Despite a general increase in foreclosures nationwide, the District had one of the lowest foreclosure totals in the country during August. The District’s foreclosure rate of one new foreclosure filing for every 30,538 households — 3 percent of the national average — ranks it among the lowest in the country.

 

District foreclosures have minor impact on national total

The District’s foreclosure activity accounted for less than 1 percent of the 115,292 properties entering some stage of the foreclosure process nationwide in August. The national total represents a 24 percent increase from the 92,845 foreclosures reported in July. The nation’s foreclosure rate increased to one new foreclosure filing for every 1,003 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 – August 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

United States

20,611

45,704

7,328

21,533

20,116

115,292

1,003

District of Columbia

1

0

0

0

8

9

30,538

 

0.03

 

 

 

 

 

 

 

 

 

 

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.

 

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Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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