On Foreclosed Properties

May 5, 2008 · Filed under News

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Until a year ago, foreclosed properties were a steady, but small, portion of the business, accounting for about 30% of listings. Most were row houses in Baltimore with an occasional single-family home in the suburbs. All that changed in June 2007, when foreclosure filings started to rise. Lenders threw more and more properties his way so his listings swelled to more than 30, up from a dozen, with three-quarters being foreclosed homes. Maryland has the 6th highest rate of foreclosure filings per household in the country, according to RealtyTrac, though McIlvaine thinks that number is a bit high.

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