FOR IMMEDIATE RELEASE
Irene Savage/Tristam Wallace
Harpell, Inc.
781-274-9148/781-274-8710
isavage@harpell.com/twallace@harpell.com
U.S. Residential Foreclosure Inventory
Remains Stable in August,
Announces
Foreclosure.com
National Inventory of Both Active and New Foreclosures Flatten Out for
First Time in 2004
BOCA
RATON, Fla. – September 15, 2004 – According to data released
today by online foreclosure listing service, Foreclosure.com, there were 22,733
new foreclosed residential properties listed in the U.S.
during August 2004, less than a one percent increase from July. Overall, the total number of foreclosed
properties available in the U.S.
for the month of August was 72,303, an increase of one percent from July.
“The August data shows that new foreclosure activity has
leveled off across the country, which is a strong indicator of the sustained
strength of the real estate market,” said Greg Sullivan, vice president and
co-founder, Foreclosure.com. “In
addition, the data shows that inventory of active properties has remained
relatively flat for the third straight month, indicating lenders have been
successful in maintaining a balance of foreclosure sales against new
foreclosure inventory. One reason for this is that our extensive network of
lenders benefit from the visibility that their properties gain from being
listed on Foreclosure.com, resulting in reduced sales cycles due to exposure to
an interested, national audience.”
Note to Editors: Data includes
foreclosed properties in the 50 states and the District of Columbia.
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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