Foreclosure Home Press Releases GEORGIA FORECLOSURE ACTIVITY INCREASES 11 PERCENT IN FIRST QUARTER

GEORGIA FORECLOSURE ACTIVITY INCREASES 11 PERCENT IN FIRST QUARTER

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State Activity Up Less Than 1 Percent From Q1 2008; Foreclosure Rate Ranks No. 7

Monthly Activity Up 31 percent in March, Surges 21 Percent From Year Ago

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 28,608 Georgia properties in the first quarter of 2009, an 11 percent increase from the previous quarter and less than half a percent ahead of the level reported for Q1 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 138 Georgia housing units received a foreclosure filing during the quarter, the seventh highest state foreclosure rate in the nation.

 

The Peach State reported 13,366 properties with foreclosure filings in March, a 31 percent increase from the previous month and 21 percent above its March 2008 total.

 

“Foreclosure activity continued to rise in Georgia both on a quarterly and a monthly basis, as well as from the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state has lost more than 180,000 jobs during the past year, bringing its unemployment rate from 5.6 to 9.2 percent. This, in addition to falling home prices and a large inventory of unsold homes, is keeping the state’s foreclosure level among the nation’s highest.”

 

Georgia documented the eighth highest raw number of properties receiving foreclosure filings in the first quarter. Its foreclosure rate — one in every 138 housing units receiving a foreclosure filing during the quarter — ranked seventh behind Nevada, Arizona, California. Florida, Illinois and Michigan.

 

Other states with foreclosure rates among the 10 highest were Idaho, Utah and Oregon.

 

Five counties responsible for bulk of state total for the quarter

Five Georgia counties accounted for 47 percent of the state’s overall foreclosure activity during the first quarter. Fulton County led the state, reporting 4,363 properties with foreclosure filings. Gwinnett County was second highest, reporting 3,121 properties with foreclosure filings for the quarter. Dekalb County was third, reporting 2,454 properties with foreclosure filings. Cobb County registered the fourth highest total, documenting 2,014 properties with foreclosure filings. Fifth highest total was tallied in Clayton County, where 1,569 properties with foreclosure filings were reported.

 

Newton County posts state’s highest foreclosure rates for first quarter

With one in every 43 housing units receiving a foreclosure filing — 3.3 times the state average and 3.7 times the national average — Newton County posted the state’s highest county foreclosure rate for Q1 2009. Walton County had the second highest rate, with one in every 51 housing units receiving a foreclosure filing — 2.7 times the state average and 3.1 times the national average. Third highest rate was documented in Henry County, where one in every 58 housing units received a foreclosure filing during the month — 2.4 times the state average and 2.7 times the national average.

 

State a significant contributor to nation’s foreclosure total for Q1 2009

Georgia accounted for 4 percent of the 803,489 properties with foreclosure filings reported nationwide for the first quarter of 2009. The national total represented a 9 percent increase in activity from the previous quarter and was almost 24 percent ahead of the total reported for Q1 2008. One in every 159 U.S. housing units received a foreclosure filing during the quarter.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the quarter  — broken out by type of filing at the county, state and national level. RealtyTrac’s report incorporates documents filed in all three phases of foreclosure: Default Notice of Default (NOD) and Lis Pendens (LIS); Auction Notice of Trustee Sale and Notice of Foreclosure Sale (NTS and NFS); and Real Estate Owned, or REO properties (that have been foreclosed on and repurchased by a bank). If more than one foreclosure document is filed against a property during the quarter — which is extremely rare — only the most recent filing is counted in the report.

 

For current news and information regarding foreclosure-related issues and trends, check out our blog at www.ForeclosurePulse.com.

 

              Georgia Foreclosure Market Data by County – Q1 2009

                           Properties with Foreclosure Filings

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

%? from Q4 08

%? from Q1 08








 

 

 

United States

156,933

149,852

225,752

80,409

190,543

803,489

159

9.16%

23.63%

Georgia

1

0

18,938

0

9,669

28,608

138

10.66%

0.37%


 

 

 

 

 

 

 

 

 

Appling

0

0

7

0

3

10

797

233.33%

11.11%

Atkinson

0

0

0

0

0

0

--

-100.00%

-100.00%

Bacon

0

0

0

0

2

2

2,254

-50.00%

-50.00%

Baker

0

0

0

0

0

0

--

-100.00%

--

Baldwin

0

0

39

0

13

52

368

188.89%

13.04%

Banks

0

0

21

0

8

29

233

93.33%

7.41%

Barrow

0

0

217

0

155

372

69

-21.19%

43.63%

Bartow

0

0

227

0

77

304

122

59.16%

11.76%

Ben Hill

0

0

25

0

2

27

294

68.75%

-27.03%

Berrien

0

0

8

0

3

11

684

83.33%

57.14%

Bibb

0

0

308

0

162

470

152

2.40%

-19.10%

Bleckley

0

0

0

0

0

0

--

-100.00%

--

Brantley

0

0

0

0

1

1

6,608

-75.00%

--

Brooks

0

0

5

0

0

5

1,469

0.00%

--

Bryan

0

0

26

0

9

35

341

9.38%

-14.63%

Bulloch

0

0

19

0

8

27

995

-35.71%

-3.57%

Burke

0

0

10

0

6

16

580

23.08%

-30.43%

Butts

0

0

83

0

24

107

86

1.90%

970.00%

Calhoun

0

0

2

0

0

2

1,172

--

100.00%

Camden

0

0

10

0

26

36

579

-57.65%

-16.28%

Candler

0

0

4

0

0

4

990

-20.00%

--

Carroll

0

0

354

0

151

505

90

12.47%

25.00%

Catoosa

0

0

87

0

28

115

226

61.97%

-15.44%

Charlton

0

0

6

0

4

10

407

150.00%

25.00%

Chatham

0

0

386

0

60

446

254

6.44%

-5.71%

Chattahoochee

0

0

3

0

0

3

1,118

--

-25.00%

Chattooga

0

0

16

0

18

34

320

21.43%

-8.11%

Cherokee

0

0

526

0

302

828

95

22.30%

37.54%

Clarke

0

0

147

0

17

164

305

50.46%

78.26%

Clay

0

0

0

0

1

1

1,961

--

--

Clayton

0

0

993

0

576

1,569

68

-1.75%

-19.17%

Clinch

0

0

3

0

0

3

969

-40.00%

50.00%

Cobb

0

0

1,329

0

685

2,014

138

9.04%

-10.33%

Coffee

0

0

23

0

6

29

576

81.25%

70.59%

Colquitt

0

0

26

0

10

36

510

38.46%

-26.53%

Columbia

0

0

118

0

41

159

270

6.71%

6.00%

Cook

0

0

9

0

4

13

527

62.50%

--

Coweta

0

0

223

0

138

361

127

-9.75%

-11.30%

Crawford

0

0

15

0

4

19

302

0.00%

-9.52%

Crisp

0

0

22

0

2

24

422

60.00%

33.33%

Dade

0

0

11

0

7

18

359

-18.18%

50.00%

Dawson

0

0

60

0

17

77

128

35.09%

148.39%

Decatur

0

0

0

0

5

5

2,726

-37.50%

-70.59%

Dekalb

0

0

1,483

0

971

2,454

125

-18.12%

-23.79%

Dodge

0

0

10

0

4

14

605

16.67%

250.00%

Dooly

0

0

2

0

2

4

1,143

100.00%

100.00%

Dougherty

0

0

55

0

24

79

527

125.71%

-46.62%

Douglas

0

0

439

0

288

727

67

5.21%

4.60%

Early

0

0

2

0

1

3

1,829

50.00%

0.00%

Echols

0

0

0

0

0

0

--

--

--

Effingham

0

0

57

0

29

86

219

16.22%

21.13%

Elbert

0

0

14

0

3

17

557

-10.53%

-61.36%

Emanuel

0

0

8

0

0

8

1,205

-33.33%

-50.00%

Evans

0

0

4

0

0

4

1,151

100.00%

300.00%

Fannin

0

0

43

0

12

55

311

71.88%

205.56%

Fayette

0

0

179

0

81

260

150

23.81%

-10.34%

Floyd

0

0

133

0

31

164

243

102.47%

-8.89%

Forsyth

0

0

248

0

126

374

161

65.49%

26.35%

Franklin

0

0

30

0

12

42

227

55.56%

-8.70%

Fulton

1

0

2,701

0

1,661

4,363

99

7.78%

-30.98%

Gilmer

0

0

61

0

7

68

241

61.90%

-1.45%

Glascock

0

0

1

0

0

1

1,215

-50.00%

0.00%

Glynn

0

0

54

0

40

94

406

-1.05%

44.62%

Gordon

0

0

93

0

23

116

180

46.84%

8.41%

Grady

0

0

17

0

5

22

479

46.67%

-4.35%

Greene

0

0

25

0

5

30

270

200.00%

--

Gwinnett

0

0

2,074

0

1,047

3,121

91

5.33%

17.24%

Habersham

0

0

45

0

30

75

235

59.57%

10.29%

Hall

0

0

359

0

228

587

107

7.90%

31.61%

Hancock

0

0

6

0

2

8

582

0.00%

--

Haralson

0

0

61

0

29

90

134

60.71%

210.34%

Harris

0

0

21

0

7

28

463

27.27%

3.70%

Hart

0

0

24

0

10

34

354

88.89%

54.55%

Heard

0

0

8

0

5

13

374

30.00%

0.00%

Henry

0

0

787

0

438

1,225

58

-13.85%

7.93%

Houston

0

0

159

0

71

230

246

11.65%

5.99%

Irwin

0

0

5

0

1

6

699

20.00%

-25.00%

Jackson

0

0

204

0

72

276

85

56.82%

73.58%

Jasper

0

0

26

0

12

38

161

11.76%

-9.52%

Jeff Davis

0

0

4

0

1

5

1,127

-16.67%

-44.44%

Jefferson

0

0

13

0

3

16

462

220.00%

220.00%

Jenkins

0

0

2

0

3

5

791

-28.57%

150.00%

Johnson

0

0

2

0

1

3

1,218

--

--

Jones

0

0

28

0

5

33

335

266.67%

73.68%

Lamar

0

0

32

0

7

39

186

77.27%

85.71%

Lanier

0

0

6

0

1

7

486

133.33%

--

Laurens

0

0

58

0

18

76

265

442.86%

7500.00%

Lee

0

0

18

0

6

24

488

200.00%

26.32%

Liberty

0

0

62

0

19

81

298

211.54%

47.27%

Lincoln

0

0

10

0

0

10

478

233.33%

11.11%

Long

0

0

9

0

3

12

360

300.00%

--

Lowndes

0

0

73

0

32

105

411

25.00%

41.89%

Lumpkin

0

0

37

0

9

46

241

-8.00%

4.55%

Macon

0

0

8

0

3

11

513

1000.00%

120.00%

Madison

0

0

42

0

10

52

225

36.84%

10.64%

Marion

0

0

4

0

0

4

799

-33.33%

-33.33%

Mcduffie

0

0

12

0

2

14

664

600.00%

-64.10%

Mcintosh

0

0

4

0

5

9

746

50.00%

350.00%

Meriwether

0

0

27

0

9

36

288

28.57%

50.00%

Miller

0

0

5

0

1

6

467

50.00%

500.00%

Mitchell

0

0

4

0

2

6

1,556

-25.00%

--

Monroe

0

0

32

0

8

40

252

60.00%

1900.00%

Montgomery

0

0

5

0

0

5

757

150.00%

-44.44%

Morgan

0

0

15

0

4

19

397

26.67%

35.71%

Murray

0

0

80

0

9

89

180

102.27%

8800.00%

Muscogee

0

0

254

0

80

334

249

44.59%

-11.17%

Newton

0

0

630

0

238

868

43

34.78%

629.41%

Oconee

0

0

44

0

5

49

255

444.44%

88.46%

Oglethorpe

0

0

17

0

0

17

365

466.67%

--

Paulding

0

0

419

0

271

690

73

40.82%

87.50%

Peach

0

0

60

0

13

73

146

35.19%

1360.00%

Pickens

0

0

63

0

10

73

189

69.77%

7.35%

Pierce

0

0

15

0

3

18

419

63.64%

157.14%

Pike

0

0

24

0

15

39

173

95.00%

30.00%

Polk

0

0

109

0

41

150

113

44.23%

22.95%

Pulaski

0

0

5

0

2

7

604

133.33%

600.00%

Putnam

0

0

31

0

5

36

342

157.14%

50.00%

Quitman

0

0

0

0

0

0

--

-100.00%

--

Rabun

0

0

14

0

1

15

847

25.00%

15.38%

Randolph

0

0

1

0

2

3

1,133

200.00%

--

Richmond

0

0

268

0

144

412

211

11.35%

-35.22%

Rockdale

0

0

307

0

157

464

67

-1.07%

-5.31%

Schley

0

0

1

0

1

2

823

--

0.00%

Screven

0

0

4

0

2

6

1,186

50.00%

500.00%

Seminole

0

0

3

0

1

4

1,228

--

-50.00%

Spalding

0

0

159

0

82

241

109

28.88%

2.99%

Stephens

0

0

51

0

11

62

200

416.67%

100.00%

Stewart

0

0

4

0

0

4

588

--

--

Sumter

0

0

23

0

7

30

474

233.33%

11.11%

Talbot

0

0

11

0

1

12

257

140.00%

500.00%

Taliaferro

0

0

0

0

0

0

--

--

--

Tattnall

0

0

2

0

3

5

1,768

-16.67%

0.00%

Taylor

0

0

1

0

0

1

4,197

-50.00%

-75.00%

Telfair

0

0

5

0

0

5

1,026

-16.67%

25.00%

Terrell

0

0

5

0

4

9

521

800.00%

-35.71%

Thomas

0

0

49

0

9

58

346

26.09%

48.72%

Tift

0

0

41

0

10

51

319

70.00%

50.00%

Toombs

0

0

9

0

3

12

987

50.00%

--

Towns

0

0

25

0

7

32

259

300.00%

--

Treutlen

0

0

0

0

0

0

--

--

--

Troup

0

0

101

0

23

124

217

163.83%

-9.49%

Turner

0

0

5

0

0

5

794

66.67%

--

Twiggs

0

0

7

0

1

8

554

14.29%

300.00%

Union

0

0

41

0

9

50

267

354.55%

316.67%

Upson

0

0

31

0

7

38

324

245.45%

35.71%

Walker

0

0

131

0

52

183

155

34.56%

27.97%

Walton

0

0

299

0

329

628

51

8.46%

93.23%

Ware

0

0

5

0

7

12

1,370

-20.00%

-47.83%

Warren

0

0

13

0

2

15

186

1400.00%

--

Washington

0

0

2

0

5

7

1,220

250.00%

--

Wayne

0

0

9

0

11

20

551

-9.09%

5.26%

Webster

0

0

0

0

0

0

--

--

--

Wheeler

0

0

1

0

0

1

2,480

--

--

White

0

0

44

0

5

49

243

44.12%

4.26%

Whitfield

0

0

161

0

60

221

159

92.17%

40.76%

Wilcox

0

0

0

0

1

1

3,377

-50.00%

0.00%

Wilkes

0

0

5

0

2

7

739

-12.50%

16.67%

Wilkinson

0

0

9

0

6

15

302

400.00%

1400.00%

Worth

0

0

22

0

8

30

314

650.00%

--

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contacts:
Michelle Schneider
949.502.8300 Ext. 139
michelle.schneider@realtytrac.com

Christine Stricker
949.502.8300 Ext. 268
christine.stricker@realtytrac.com

Detailed & Historical Data:
Tyler White
949.502.8300 Ext. 158
tyler.white@realtytrac.com

 


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