FOR IMMEDIATE RELEASE
Irene Savage/Tristam Wallace
Harpell, Inc.
781-274-9148/781-274-8710
isavage@harpell.com/twallace@harpell.com
U.S. Supply of Foreclosed Properties
Reaches Its Highest Level of 2004, Announces Foreclosure.com
New Foreclosure Listings Have Leveled Off Across the Country, Yet Active Foreclosure Inventory Increased 10 Percent in May
BOCA
RATON, Fla. –June 7, 2004 – According to data released today by
online foreclosure listing service, Foreclosure.com, there were 29,990 new
foreclosed residential properties listed in the U.S.
during May 2004. Overall, the total
number of foreclosed properties available in the U.S.
for the month of May was 82,991. While
the number of new foreclosure listings remained relatively even from April to
May, there was an increase of 10 percent in the total number of available
properties.
“The increase in foreclosure inventory during the past month
indicates that lenders are burdened with a high number of properties. This creates a very attractive buyer’s
market, as lending institutions do not benefit from holding foreclosed
properties on their books,” said Greg Sullivan, vice president and co-founder,
Foreclosure.com. “Georgia,
North Carolina, Ohio
and Texas continue to show the
largest number of foreclosed properties in the country. However, new foreclosures in Texas,
North Carolina and Ohio
dropped from April to May, the first drop in new listings in these states in
2004.”
Note to Editors: Data includes
foreclosed properties in the 50 states and the District of Columbia.
U.S.
Foreclosure Data for May 2004:
About
Foreclosure.com
Based in Boca Raton, Florida,
Foreclosure.com is committed to delivering the most comprehensive, up-to-date
database of residential foreclosure properties in the United
States to its customers and business
partners through its cost-effective, Web-based subscription service. Through the company’s work with hundreds of
the top lending institutions and government agencies, Foreclosure.com has
access to the nation’s largest inventory of residential foreclosure real estate,
including Real
Estate-Owned (REO) properties; Department of Housing and Urban Development
(HUD), Department of Veterans Affairs (VA), Fannie Mae, and other government
agency and financial institution properties; as well as listings from an
extensive network of corporate sellers. On
the Net: http://www.foreclosure.com
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