FORECLOSURE ACTIVITY DOWN 14 PERCENT IN ATLANTA METRO AREA FOR APRIL

Foreclosure Filings Up 18 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 8,853 properties in the Atlanta metro area in April, down 14 percent from the previous month, but still 18 percent above the level reported in April 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 239 Atlanta metro housing units received a foreclosure filing during the month, ranking the metro area’s foreclosure rate 38th highest among the 203 largest metro areas with a population greater than 200,000 tracked each month by RealtyTrac.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 million properties from over 2,200 counties across the country, and is the foreclosure data provider to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal.

 

“Foreclosure activity in the Atlanta metro area dropped for April, although it remained ahead of the level reported for the same time one year ago,” said James J. Saccacio, chief executive officer of RealtyTrac. “Atlanta’s job market, which was relatively steady one year ago, continues to decline as economists predict at least another year of high unemployment which will most likely translate into more foreclosures down the road.”

 

Comprised of 28 counties, the Atlanta metro area’s total properties with foreclosure filings was the seventh highest total among the 203 large metro areas tracked in the RealtyTrac report.

 

With one in every 122 housing units receiving a foreclosure filing during April — 2.8 times the state average and 3.1 times the national average — Newton County had the highest foreclosure rate in the metro area. Henry County registered the second highest county foreclosure rate in the metro area, reporting one in every 133 housing units receiving a foreclosure filing — 2.6 times the state average and 2.8 times the national average. Barrow County registered the third highest rate among metro counties, reporting one in every 144 housing units receiving a foreclosure filing — 2.4 times the state average and 2.6 times the national average.

 

State ranks seventh nationally in foreclosure activity for April

Georgia reported 11,521 properties with foreclosure filings in April, giving it the seventh highest state total in the nation. This latest total represents a 14 percent decrease from the previous month but is still 22 percent ahead of the level reported in April 2008. One in every 344 Georgia housing units received a foreclosure filing during the month, the seventh highest state foreclosure rate in the nation.

 

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

Georgia accounted for 3 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 U.S. housing units received a foreclosure filing during the month.

 

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 month — 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 month — which is extremely rare — 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 Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

Georgia

0

0

7,809

0

3,712

11,521

344

-13.80

21.68

Atlanta MSA

0

0

5,876

0

2,977

8,853

239

-14.41

17.54

 

 

 

 

 

 

 

 

 

 

Barrow

0

0

123

0

55

178

144

4.71

150.70

Bartow

0

0

82

0

38

120

308

-14.29

44.58

Butts

0

0

32

0

12

44

210

29.41

633.33

Carroll

0

0

188

0

71

259

175

24.52

52.35

Cherokee

0

0

216

0

96

312

253

-18.11

16.42

Clayton

0

0

335

0

260

595

178

-20.13

-13.89

Cobb

0

0

549

0

144

693

401

-29.50

1.61

Coweta

0

0

83

0

43

126

365

-24.55

-5.26

Dawson

0

0

19

0

7

26

379

4.00

225.00

Dekalb

0

0

773

0

308

1,081

283

12.96

7.35

Douglas

0

0

204

0

86

290

167

-22.04

2.11

Fayette

0

0

63

0

29

92

423

-28.68

-7.07

Forsyth

0

0

89

0

41

130

463

-23.53

2.36

Fulton

0

0

1,199

0

647

1,846

234

-24.56

3.77

Gwinnett

0

0

890

0

527

1,417

200

-2.75

28.58

Haralson

0

0

18

0

9

27

446

-34.15

200.00

Heard

0

0

8

0

0

8

608

100.00

166.67

Henry

0

0

327

0

207

534

133

-6.81

40.53

Jasper

0

0

9

0

1

10

611

-58.33

-47.37

Lamar

0

0

10

0

3

13

558

-38.10

100.00

Meriwether

0

0

6

0

9

15

691

0.00

 n/a

Newton

0

0

173

0

130

303

122

-13.18

112.00

Paulding

0

0

147

0

62

209

241

-37.24

-7.52

Pickens

0

0

23

0

8

31

445

-3.13

40.91

Pike

0

0

6

0

7

13

518

-50.00

85.71

Rockdale

0

0

119

0

62

181

172

-8.59

11.04

Spalding

0

0

45

0

35

80

329

-20.00

1.27

Walton

0

0

140

0

80

220

145

-9.47

150.00

 

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 Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved