MARYLAND FORECLOSURES INCREASE 49 PERCENT IN SEPTEMBER

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 14 Percent From a Year Ago

 

IRVINE, Calif. – Oct. 11, 2006 – Maryland reported 572 properties entering some stage of the foreclosure process, a 49 percent gain from the 385 properties reported in August, and a 14 percent increase from the 502 properties reported for the same month last year, according to the RealtyTrac™ September 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 Maryland economy is expanding, employment growth has slowed, especially in the real estate sector where it is decelerating more rapidly than the national average,” said James J. Saccacio, chief executive officer of RealtyTrac. “However, even with the recent increase in foreclosures within the state, Maryland’s foreclosure activity remains lower than in much of the country.”

 

Maryland ranked 26th in the country in total foreclosures reported for September. The state’s foreclosure rate of one new foreclosure filing for every 3,745 households — well below the national average — ranks it 33rd among the 50 states.

 

Prince George’s County tops in foreclosure activity

Prince George’s County had the largest share for foreclosure activity in September, reporting 190 properties entering some stage of the foreclosure process. Baltimore County had the second highest total, reporting 117 properties entering some stage of foreclosure during the month. Third highest was Charles County, reporting 71 properties in the foreclosure pipeline.

 

Highest foreclosure rate reported in Charles County

Charles County posted the state’s highest foreclosure rate in September, with one new foreclosure filing for every 618 households — 6.1 times the state average and 1.7 times the national average. Reporting one new foreclosure filing for every 752 households — 5.0 times the state average and 1.4 times the national average — Calvert County had the second highest foreclosure rate in the state.

 

Maryland makes small contribution to national total

Maryland’s foreclosure activity accounted for less than 1 percent of the 112,210 properties entering some stage of foreclosure nationwide in September. The national total represents an almost 1 percent decrease in activity from the 113,300 foreclosures reported in August. The national foreclosure rate increased to one new foreclosure filing for every 1,030 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).

 

                      Maryland Foreclosure Market by County – September 2006

 

County Name

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

25,379

43,840

6,285

19,338

17,368

112,210

1,030

Maryland

5

545

0

0

22

572

3,745

0.28

 

 

 

 

 

 

 

 

 

 

Allegany

0

0

0

0

0

0

0.00

0.00

Anne Arundel

1

41

0

0

4

46

4,064

0.25

0.92

Baltimore

0

117

0

0

0

117

2,681

0.38

1.40

Baltimore City

2

12

0

0

1

15

20,032

0.05

0.19

Calvert

0

34

0

0

0

34

752

1.37

4.98

Caroline

0

1

0

0

0

1

12,028

0.09

0.31

Carroll

0

9

0

0

0

9

6,029

0.17

0.62

Cecil

0

2

0

0

0

2

17,231

0.06

0.22

Charles

0

71

0

0

0

71

618

1.67

6.06

Dorchester

0

0

0

0

0

0

0.00

0.00

Frederick

0

14

0

0

0

14

5,216

0.20

0.72

Harford

0

0

0

0

0

0

0.00

0.00

Howard

0

34

0

0

0

34

2,730

0.38

1.37

Kent

1

0

0

0

0

1

9,410

0.11

0.40

Montgomery

0

11

0

0

0

11

30,397

0.03

0.12

Prince George‘s

1

172

0

0

17

190

1,591

0.65

2.35

Queen Anne’s

0

0

0

0

0

0

0.00

0.00

Saint Mary’s

0

25

0

0

0

25

1,363

0.76

2.75

Somerset

0

0

0

0

0

0

0.00

0.00

Talbot

0

0

0

0

0

0

0.00

0.00

Washington

0

2

0

0

0

2

26,486

0.04

0.14

Wicomico

0

0

0

0

0

0

0.00

0.00

Worcester

0

0

0

0

0

0

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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