Monika Kumar

Foreclosures drop in D.C. and Northern Virginia

Foreclosures drop in D.C. and Northern Virginia
Home foreclosures dropped in the majority of the Washington, D.C. area and across the country, from January to February.
The one-month decrease comes at the start of the spring season, when real estate activity tends to pick up.
The number of properties with foreclosure filings fell 32.5 percent in the District of Columbia in February, with 340 foreclosure filings on properties, down from 504 the month before, according to Irvine, Calif.-based RealtyTrac, a Web-based foreclosure listing company, which releases monthly foreclosure data.
In Northern Virginia, filings slid 18.7 percent, with only one county, Loudoun, seeing a slight increase of 1.3 percent, from 388 properties with foreclosure filings to 393 properties. Prince William County, which has been hit hard by the mortgage crisis, saw a decrease in filings of 23.7 percent, from 1,504 properties to 1,147 properties.
Fairfax County's number of foreclosures dipped 19.2 percent, from 1,330 properties to 1,074 properties, and Arlington County dropped 12.8 percent from 94 properties with foreclosure filings to 82 properties.
Overall, in the state of Virginia, foreclosures dropped 18.7 percent over the past month as well, from 5,152 properties with filings to 4,187 properties.
Across the entire country, the number of properties with foreclosures dipped 4.0 percent from Janury to February.

This news was delivered to us by Virginia Association of Realtor.

Published Tuesday, March 25, 2008 3:54 PM by Monika Kumar