Baltimore Foreclosures for the beginning of 2014 were up, and in a big way.
RealtyTrac, a company that tracks foreclosures across the US, reported that Baltimore foreclosures were up 119% over January 2013.
According to an article in the Baltimore Business Journal, Baltimore foreclosures were not the only ones on the rise on the East Coast, as New York’s rate was up 40%, Washington, D.C. 38%, and Philadelphia, 14%. Maryland as a whole was among the top three foreclosure states in the US.
There is a silver lining with the above numbers — these are foreclosure filings. It does not mean they will all go into foreclosure. With Baltimore real estate prices moving, in general, in a positive direction, there is a higher likelihood that not all of these will be foreclosed upon.
Contact me for more information about Baltimore foreclosure homes.
Photo courtesy of taberandrew via Flickr CC