MAINE FORECLOSURES INCREASE 60 PERCENT IN JULY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

State’s Activity Down 65 Percent From a Year Ago

 

IRVINE, Calif. – July 31, 2006 – Maine reported eight properties entering some stage of the foreclosure process in July, a 60 percent increase in activity from the five properties reported in June, though 65 percent below the 23 properties reported for the same month last year, according to the RealtyTrac™ July 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.

 

“The Maine economy is expected to continue growing throughout 2006 and into next year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Even with the state’s recent increase in foreclosure activity, it still holds one of the nation’s lowest foreclosure rates.”

 

Maine ranked 49th in the nation in total foreclosures reported for July. The state’s foreclosure rate of one new foreclosure filing for every 81,487 households ranks it 49th among the 50 states.

 

Two Counties Contribute Half of State’s Foreclosure Activity

Androscoggin and Cumberland Counties led all counties in the state, each reporting two properties entering some stage of the foreclosure process in the month of July.

 

Sagadahoc County Posts Highest Foreclosure Rate

Sagadahoc County posted the state’s highest foreclosure rate in July, reporting one new foreclosure filing for every 16,480 households — 4.9 times the state average and 0.1 times the national average. Franklin County had the second highest rate, reporting one new foreclosure filing for every 19,159 households — 4.3 times the state average and 0.1 times the national average.

 

Maine Total Has Little Impact on Monthly National Total

Maine foreclosures accounted for less than 1 percent of the 92,845 properties entering some stage of foreclosure nationwide in July. The national total represents a 5 percent increase from June when a total 88,194 foreclosures were reported. The nation’s foreclosure rate also increased to one new foreclosure filing for every 1,245 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).

 

                            Maine Foreclosure Market by County – July 2006

 

State Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

20,202

38,173

4,795

13,295

16,380

92,845

1,245

Maine

2

3

0

0

3

8

81,487

0.02

 

 

 

 

 

 

 

 

 

 

Androscoggin

0

1

0

0

1

2

22,980

0.05

3.55

Aroostook

0

0

0

0

0

0

0.00

0.00

Cumberland

1

1

0

0

0

2

61,300

0.02

1.33

Franklin

0

1

0

0

0

1

19,159

0.07

4.25

Hancock

0

0

0

0

1

1

33,945

0.04

2.40

Kennebec

0

0

0

0

0

0

0.00

0.00

Knox

0

0

0

0

0

0

0.00

0.00

Lincoln

0

0

0

0

0

0

0.00

0.00

Oxford

0

0

0

0

0

0

0.00

0.00

Penobscot

0

0

0

0

0

0

0.00

0.00

Piscataquis

0

0

0

0

0

0

0.00

0.00

Sagadahoc

0

0

0

0

1

1

16,480

0.08

4.94

Somerset

0

0

0

0

0

0

0.00

0.00

Waldo

0

0

0

0

0

0

0.00

0.00

Washington

0

0

0

0

0

0

0.00

0.00

York

1

0

0

0

0

1

94,234

0.01

0.86

 

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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