FORECLOSURE ACTIVITY UP 5 PERCENT IN ATLANTA METRO AREA FOR THE FIRST QUARTER

Foreclosure Filings Down 3 Percent From Q1 2008

 

IRVINE, Calif. – April 27, 2009 – Foreclosure filings were reported on 21,880 properties in the Atlanta metro area in the first quarter, up 5 percent from the previous quarter, but down 3 percent from first quarter 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 97 Atlanta metro housing units received a foreclosure filing during the quarter, ranking the metro area’s foreclosure rate 35th among the 203 metro areas with populations over 200,000 tracked each quarter 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 continued to climb in the first quarter of 2009 along with its unemployment rate,” said James J. Saccacio, chief executive officer of RealtyTrac. “Interestingly enough, foreclosures are down slightly from the same time last year when the area’s job market was still considered steady.”

 

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

 

With one in every 43 housing units receiving a foreclosure filing during the first quarter — 3.2 times the state average and 3.7 times the national average — Newton County had the highest foreclosure rate in the metro area.  Walton County registered the second highest county foreclosure rate, reporting one in every 51 housing units receiving a foreclosure filing — 2.7 times the state average and 3.1 times the national average. Douglas and Rockdale counties tied for third highest rate, each reporting one in every 67 housing units receiving a foreclosure filing — 2.1 times the state average and 2.4 times the national average.

 

State ranks in nation’s top 10 in foreclosure activity for first quarter

Georgia reported 28,608 properties with foreclosure filings in the quarter, the eighth highest foreclosure total in the nation. This latest total represents an 11 percent increase from the previous quarter, but is relatively unchanged from the level reported in the first quarter 2008. One in every 138 Georgia housing units received a foreclosure filing during the quarter, the seventh highest state foreclosure rate in the nation.

 

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

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

%Change from Q4 08

%Change 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

Atlanta MSA

1

0

13,978

0

7,901

21,880

97

4.52

-2.99

 

 

 

 

 

 

 

 

 

 

Barrow

0

0

217

0

155

372

69

-21.19

43.63

Bartow

0

0

227

0

77

304

122

59.16

11.76

Butts

0

0

83

0

24

107

86

1.90

970.00

Carroll

0

0

354

0

151

505

90

12.47

25.00

Cherokee

0

0

526

0

302

828

95

22.30

37.54

Clayton

0

0

993

0

576

1,569

68

-1.75

-19.17

Cobb

0

0

1,329

0

685

2,014

138

9.04

-10.33

Coweta

0

0

223

0

138

361

127

-9.75

-11.30

Dawson

0

0

60

0

17

77

128

35.09

148.39

Dekalb

0

0

1,483

0

971

2,454

125

-18.12

-23.79

Douglas

0

0

439

0

288

727

67

5.21

4.60

Fayette

0

0

179

0

81

260

150

23.81

-10.34

Forsyth

0

0

248

0

126

374

161

65.49

26.35

Fulton

1

0

2,701

0

1,661

4,363

99

7.78

-30.98

Gwinnett

0

0

2,074

0

1,047

3,121

91

5.33

17.24

Haralson

0

0

61

0

29

90

134

60.71

210.34

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

Jasper

0

0

26

0

12

38

161

11.76

-9.52

Lamar

0

0

32

0

7

39

186

77.27

85.71

Meriwether

0

0

27

0

9

36

288

28.57

50.00

Newton

0

0

630

0

238

868

43

34.78

629.41

Paulding

0

0

419

0

271

690

73

40.82

87.50

Pickens

0

0

63

0

10

73

189

69.77

7.35

Pike

0

0

24

0

15

39

173

95.00

30.00

Rockdale

0

0

307

0

157

464

67

-1.07

-5.31

Spalding

0

0

159

0

82

241

109

28.88

2.99

Walton

0

0

299

0

329

628

51

8.46

93.23

 

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix, and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

 

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new homes, with more than 1.3 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and the Wall Street Journal’s Real Estate Journal. For more information, visit (www.realtytrac.com).

 

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