According to foreclosure listing firm RealtyTrac Inc., lenders repossessed nearly 93,000 properties in July. That was up 9 percent from June and 6 percent from the same month a year earlier.
Across the country, July was not a good month for homes in foreclosure. According to RealtyTrac lenders repossessed approximately 93,000 homes in July, representing a 9% increase from June and a 6% increase from the same month in 2009.
These numbers represented about 1 out of every 400 homeowners received a foreclosure notice – and the rate was even higher in states like Nevada, California, Arizona and Florida.
In New England the rate of foreclosure was about half the national average, and in Maine and Vermont it was less than one-quarter as bad. In July, the foreclosure rate in Maine was one in every 2,012 homes.
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According to statistics at the RealtyTrac website, in southern Maine York County currently has 111 homes in foreclosure compared to only 33 in Cumberland County. Currently York County has the highest number of foreclosure listings in Maine. The rate of filings in Cumberland County represents 1 in every 4,053 housing units.
Statewide, the average YTD sales price of a foreclosed home was $189,543 compared to a national average of $238,704.
Michael, along with his wife Laura, is co-owner of Maine Home Connection, an independent real estate company located in Portland. Maine. Together they started the brokerage from scratch with a new vision of what a company could look like if it focused completely on the needs of our clients and our agents.