MAINE FORECLOSURES DECREASE 91 PERCENT IN NOVEMBER

State’s Activity Level Down 77 Percent From a Year Ago

 

IRVINE, Calif. – Dec. 11, 2006 – Maine reported four properties entering some stage of the foreclosure process in November, a 91 percent decrease from the 46 properties reported in October, and a 77 percent decrease from the 17 properties reported for the same month last year, according to the RealtyTrac™ U.S. Foreclosure Market Report.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 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.

 

Maine foreclosures are down both in November and from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although the state’s housing market is slowing, its robust tourism and hospitality industry continues to provide strong job growth throughout the state. This is likely contributing to the overall decline in foreclosure activity.”

 

Maine ranked second lowest in the country in total foreclosures reported for November. The state’s foreclosure rate of one new foreclosure filing for every 162,973 households ranked 49th among the 50 states.

 

Four counties account for all state’s foreclosure activity

Four counties accounted for all of the foreclosure activity in Maine for the month.  Androscoggin, Kennebec, Penobscot and Somerset Counties all reported one property entering some stage of the foreclosure process.

 

Somerset County posts state’s top foreclosure rate

Somerset County posted the posted the state’s highest foreclosure rate in November, reporting one new foreclosure filing for every 28,222 households — 5.8 times the state average. Androscoggin County reported the second highest foreclosure rate, with one new foreclosure filing for every 45,960 households — 3.6 times the state average. Kennebec County documented the third highest foreclosure rate, with one new foreclosure filing for every 56,364 households — 2.9 times the state average.

 

Maine makes minor contribution to national total

Maine’s foreclosure activity accounted for less than 0.1 percent of the 120,334 properties entering some stage of foreclosure nationwide in November. The national total represents a 4 percent increase from the 115,568 foreclosures reported in October. The nation’s foreclosure rate increased to one new foreclosure filing for every 961 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).

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

 

 

                          Maine Foreclosure Market by County – November 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

31,027

44,448

5,685

16,263

22,911

120,334

961

n/a

n/a

Maine

1

3

0

0

0

4

162,973

0.01

n/a

 

 

 

 

 

 

 

 

 

 

Androscoggin

1

0

0

0

0

1

45,960

0.02

3.54

Aroostook

0

0

0

0

0

0

                 n/a

0.00

0.00

Cumberland

0

0

0

0

0

0

                 n/a

0.00

0.00

Franklin

0

0

0

0

0

0

                 n/a

0.00

0.00

Hancock

0

0

0

0

0

0

                 n/a

0.00

0.00

Kennebec

0

1

0

0

0

1

56,364

0.01

2.89

Knox

0

0

0

0

0

0

                 n/a

0.00

0.00

Lincoln

0

0

0

0

0

0

                 n/a

0.00

0.00

Oxford

0

0

0

0

0

0

                 n/a

0.00

0.00

Penobscot

0

1

0

0

0

1

66,847

0.01

2.43

Piscataquis

0

0

0

0

0

0

                 n/a

0.00

0.00

Sagadahoc

0

0

0

0

0

0

                 n/a

0.00

0.00

Somerset

0

1

0

0

0

1

28,222

0.03

5.77

Waldo

0

0

0

0

0

0

                 n/a

0.00

0.00

Washington

0

0

0

0

0

0

                 n/a

0.00

0.00

York

0

0

0

0

0

0

                 n/a

0.00

0.00

 

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.

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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