The Baltimore Sun reports from Maryland. "The recent rise in foreclosures isn't hitting only homeowners. An apartment complex just north of Baltimore that is in the midst of being converted to condominiums is in default and is to be auctioned off next month, the auctioneer said yesterday."

"Daniel Billig, a partner with A.J. Billig & Co. Auctioneers, which is handling the scheduled auction, said the number of high-value foreclosures is abnormal. They include Triton's and a condo conversion in Rockville. But Billig is also working on foreclosures of significant developable properties in Aberdeen and the Havre de Grace area."

"Those four properties together are worth more than a quarter of a billion dollars, he said. 'It's pretty unusual to have cases this large, this many of them at one time,' said Billig, who isn't sure what is causing the increase."

"'Whether it reflects on the strength of the borrower or maybe their ability to hold [on] in a slower market, I can't answer the question,' he said."

"Renovations of the 508-unit Rodgers Forge Condominiums, built about 1955, began last year as the cool-down in the housing market accelerated."

"Residential foreclosures jumped an average of 10 percent in the Baltimore area last year, and the number has continued to rise this year, according to court records."

"Economists blame the trend on the reversal from housing boom to slump and on risky mortgages buyers assumed to get their feet in the door."

"The sharp slowdown in sales, which has killed some condo conversion plans in the Baltimore-Washington area, couldn't have helped."

"More than half of the Rodgers Forge complex's approximately 500 units are vacant, according to the auctioneer. About 60 have been renovated, and a dozen of those have been handed over to new owners. Forty-four are under contract."

The Maryland Gazette. "County home prices came down last month and sales slowed, signs the market is continuing to correct itself. There were 634 homes purchased in the county last month at a median price of $326,000, according to Metropolitan Regional Information Systems."

"That price is a roughly 4 percent decrease from March 2006 and the first monthly decline this year."

"'I think we're just seeing natural market forces at play,' said Bob Burdon, CEO of the Annapolis and Anne Arundel County Chamber of Commerce."

"Joseph Cater, chief economist for Market-Economics in Annapolis, said the collapse of the subprime market affects what he calls the 'invisible group,' low- to moderate-income families living in Annapolis and the surrounding area who are struggling with mortgage payments and cutting corners to make ends meet."

"'In some cases that's not enough, and that's why we're seeing larger and larger increases of foreclosures,' he said."

"Widespread news coverage of bankruptcies has caused some uncertainty in the market, said Bill Hyland, an associate broker in Annapolis. 'They're not quite sure what the heck to do,' he said, adding that he's got 12 active buyers who are 'waiting to see what happens.'"

"Realtor Frank Rosati said sellers who are 'realistic' with their prices will see homes move. 'I tell sellers, 'Do you want be on the market 14 days or 45 days?' he said."

"He said one Severna Park home originally listed for $445,000 was brought down to $425,000. It got an offer for $410,000."

The York Dispatch from Pennsylvania. "For five years, a Lower Windsor Township couple have been buying, remodeling and reselling homes for a profit. But for the last six months, Jeremy Rauhauser and Karen Hake have just not been able to resell, or flip, a 50-year-old brick house in East Manchester Township."

"About two months ago, the house-flipping duo even ditched their real estate agent and pitched a neon sign announcing the three-bedroom home was for sale by the owner, and reduced to sell."

"'He (the real estate agent) is a great guy and does a great job, but we're looking for any way to sell this property,' Rauhauser said, noting they reduced the price by about $20,000. 'But so far, that's not helped a whole lot, either.'"

"Home sales in York County in 2006 were stagnant, as the number of houses on the market remained high, making it more of a buyers' market. There were 2,863 homes on the market in February 2007, compared to 1,386 in the same month in 2005, according to the Realtors Association of York and Adams counties."

"A slowdown in the market is at least partially because of the 200-home developments popping up all over York County, said Rauhauser. He said he's perplexed by the recent phenomenon of buying a large house with little property."

"'I think it's a status symbol for people. They need a home that looks like $400,000, even if it was built in six days and who knows what might be wrong with it inside,' said Rauhauser."

"Barbara Crumbling in Windsor Township just put her four-bedroom house on the market. She hopes it sells before the end of July, when she and her husband plan to move to the South. 'Hopefully, it'll sell real quick,' said Crumbling, who is opening the house up on weekends this month. 'Though, there seems to be a lot of homes for sale out there.'"

"Jim Fry, another house flipper, has been trying to sell a home in Windsor borough for about four months. It's the longest the Lancaster County man has held onto a property in the three years he has been flipping houses in the region."

"'I had a buyer, but they had financial difficulties,' Fry said. 'I'm not sure if it's just harder to get a loan, or if everyone is expecting to buy a house without putting money down.'"

"Steve Snell, executive director of Realtors Association of York and Adams counties, said given the number of homes on the market, he isn't sure if house flipping will still be profitable. 'I don't think there's a real market for people trying to flip properties,' he said."