Atlanta Metro Area Foreclosure Activity Declines in January

Metro area filings down 13 percent from December

 

Foreclosure activity in the Atlanta metro area fell in January to 8,098 properties with foreclosure filings, down 13 percent from the previous month, but still 7 percent ahead of the level reported in January 2009, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Foreclosure filings dropped in the Atlanta Metro Area in January, although the level of activity remained elevated from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment in Georgia recently hit a record high of 10.1 percent, with two thirds of those job losses attributed to the Atlanta area, causing concern among the region’s more financially-strapped residents that they may end up in foreclosure.”

 

The Atlanta metro area had the eighth highest foreclosure total in the nation among the top 203 large metro areas with populations exceeding 200,000 surveyed every month by RealtyTrac. One in every 266 Atlanta metro area housing units received a foreclosure filing in January, ranking 43rd among the same 203 metro areas.

 

Walton County posts top foreclosure rate in the metro area for January

With one in every 162 housing units receiving a foreclosure filing — 2.5 times the national average and 2.2 times the state average — Walton County posted the metro area’s highest county foreclosure rate in January. Henry County had the second highest rate, with one in every 169 housing units receiving a foreclosure filing — 2.4 times the national average and 2.1 times the state average. Newton County came in third, with one in every 182 housing units receiving a foreclosure filing — 2.3 times the national average and twice the state average.

 

Fulton County led the metro area in total foreclosure filings for January

Fulton County led all metro area counties, totaling 1,543 properties with foreclosure filings for January. Gwinnett County was second highest, documenting 1,196 properties with foreclosure filings during the month. Reporting 1,104 properties with foreclosure filings for the month, Dekalb County had the third highest total. Cobb County came in fourth highest, reporting 760 properties with foreclosure filings, followed by Clayton County where 538 properties with foreclosure filings were reported.

 

State ranks low nationally in foreclosure filings

Georgia reported 11,274 properties with foreclosure filings for the month, giving it the eighth highest state total in the nation. This latest total represents a 13 percent decrease from the previous month, but is still 14 percent above of the level reported in January 2009. One in every 357 Georgia housing units received a foreclosure filing during the month, the 10th highest state foreclosure rate in the nation.

 

State a moderate contributor to nation’s foreclosure total in January

Georgia accounted for 4 percent of the 315,716 properties with foreclosure filings reported nationwide in January. Total U.S. activity declined nearly 10 percent from the previous month but was still 15 percent ahead of January 2009. One in every 409 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, only the most recent filing is counted in the report. The report also checks if the same type of document was filed against a property in a previous month. If so, and if that previous filing occurred within the estimated foreclosure timeframe for the state the property is in, the report does not count the property in the current month.

 

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

 

 

Atlanta Metro Area Top Foreclosure Rates By County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

n/a

n/a

Georgia

0

0

6,725

0

4,549

11,274

357

1.14

n/a

Atlanta Metro Area

0

0

4,717

0

3,381

8,098

266

1.54

n/a

 

 

 

 

 

 

 

 

 

 

Walton

0

0

115

0

84

199

162

2.50

2.20

Henry

0

0

245

0

189

434

169

2.39

2.11

Newton

0

0

120

0

88

208

182

2.23

1.96

Barrow

0

0

79

0

64

143

185

2.19

1.93

Carroll

0

0

129

0

110

239

192

2.11

1.86

 

 

Atlanta Metro Area Top Foreclosure Totals by County – January 2010

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Dec 09

% Chg Jan 09

 

 

 

 

 

 

 

 

 

 

United States

40,456

62,850

90,451

34,311

87,648

315,716

409

-9.67

15.06

Georgia

0

0

6,725

0

4,549

11,274

357

-13.12

13.80

Atlanta Metro Area

0

0

4,717

0

3,381

8,098

266

-13.45

6.59

 

 

 

 

 

 

 

 

 

 

Fulton

0

0

886

0

657

1,543

287

0.26

-5.74

Gwinnett

0

0

686

0

510

1,196

241

-14.02

11.57

Dekalb

0

0

638

0

466

1,104

282

-15.01

6.98

Cobb

0

0

453

0

307

760

369

-17.39

12.43

Clayton

0

0

310

0

228

538

199

-14.33

-1.65

 

 

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