Derek Slocum will pay just $190,000 for a home valued at $250,000.
The winner of a housing lottery run by the Prince George's County Department of Housing and Community Development had a chance to tour his new home in Lanham on Tuesday, WJLA reports. Derek Slocum, currently a District resident, will pay just $190,000 for a rehabbed house valued at $250,000. The housing department purchased the foreclosed home with the help of federal funds after it had sat vacant for a year. Following renovations, the deed was entered as the prize for the county's first-ever housing lottery. "It is simply beautiful," Slocum told county officials and members of the press gathered for the event. Read the full story from WJLA.
The north end of the county has generally fared better, but more than 4% of homes received notices last quarter in some towns.
Data from the second quarter of 2012 spell out the depth of the housing crisis across much of Prince George's County, with more than 4 percent of homes in some zip codes receiving foreclosure notices between April and June of this year. The figures, published by Maryland’s Department of Labor, Licensing and Regulation and compiled into an interactive map by NeighborhoodInfo DC, show particularly high rates in a band running through the center of the county. Hardest-hit is zip code 20747 (Forestville), where 4.95 percent of homes received a notice of intent to foreclose from a bank in Q2. Close behind it are zip code 20716 (Bowie) at 4.34 percent and zip code 20785 (Landover) at 4.11 percent. Measured by amount to cure—or the median amount …