Santa Barbara, CA  (MMD Newswire) December 30, 2010 — The latest foreclosure trends review in Middlesex County, New Jersey shows bank foreclosures dominating local listings of foreclosed homes for sale. RealtyStore (www.realtystore.com), the premier source of local residential foreclosure listings and data nationwide, conducted the review. RealtyStore’s data analysis showed 85% of all foreclosures, or REO properties, recorded in Middlesex County are currently listed for re-sale to the public. Of the total foreclosed inventory, bank foreclosures represent 84% of all foreclosures for sale in Middlesex County.

“Bank foreclosures comprise a much larger share of the REO listings in Middlesex County than government foreclosures, such as HUD homes or Fannie Mae foreclosures,” noted Peter Ranck, RealtyStore Vice President. “And, the local rate of listing foreclosures for sale is considerably higher than most other counties researched to date. The average listing rate of foreclosures is hovering below 50% in most counties. That is to say, foreclosure sellers such as banks and government entities, are withholding more than half of their portfolio of foreclosed homes from the local markets. Not so in Middlesex County where most bank foreclosures are being actively marketed now. We found a similar situation with foreclosures in Henry County, Georgia where 99% of local foreclosures are listed for sale. It appears bank owners in both Middlesex County and Henry County are motivated to liquidate their respective foreclosure inventories.”

Foreclosure pricing was also analyzed for Middlesex County. The median price of all homes for sale in the county is $299,900. To purchase foreclosures requires significantly less money. RealtyStore’s Middlesex County bank foreclosures data shows a median price 33% lower, at $200,000 in a price range offering homes listed from $28,600 to $799,000. Government foreclosures listed for re-sale in the county are posted at a slightly lower median price of $190,000. The HUD homes and Fannie Mae foreclosured homes listings range from $74,900 to $419,900 in the county.

Glossary of foreclosure listings terms:
REO = Real Estate Owned. These are homes or land foreclosed upon and having title fully assumed by a lending institution, bank or a government sponsored enterprise such as HUD homes, Fannie Mae or Freddie Mac.

Foreclosure listing = An REO property with a posted for-sale price.

Median price = The mid point of all prices of homes listed for sale in the market. The point where half of homes for sale are priced above and half are listed below the reported median price.

About RealtyStore
RealtyStore (www.realtystore.com), a division of Nations Info Corporation, is the leading provider of foreclosure listings and discount property data nationwide. RealtyStore’s mission is to empower its customers with the tools, education and analysis required to identify and potentially maximize profits with undervalued real estate. Collected from hundreds of public and private sources, RealtyStore’s proprietary database includes over 1 million listings including pre foreclosures, foreclosures, short sales, tax defaults and rent to own or owner financed listings. As the foreclosure listings industry leader, RealtyStore.com is the most visited foreclosure website, averaging over 1.1 million unique visitors per month in Q3, 2010. Realtystore.com is the only specialized foreclosures website to rank in the Hitwise Top 20 Internet Usage Report for the Real Estate Category (October 2010).

Media Contact: Dara Peterson, RealtyStore Media Relations, Phone: 805-214-6968

Reporting methodology
The RealtyStore County Foreclosures Review provides the total number of REO (real estate owned) foreclosed properties with a recording date on or before the date of this release. REO properties have completed the foreclosure process and have been repossessed by a bank or government sponsored loan guarantor such as Fannie Mae, Freddie Mac, HUD or the VA. REO title holders and inventory counts in any area can vary at any time. Counts and prices are accessed through RealtyStore’s proprietary database which is derived through hundreds of public and private data providers. Local housing market data is derived from third party and public records offices.