GEORGIA FORECLOSURE ACTIVITY DECREASES 7 PERCENT IN MARCH

Activity Down 12 Percent From Last Year; Foreclosure Rate Ranks 4th Highest

 

IRVINE, Calif. – April 23, 2007 – Georgia reported 6,769 foreclosure filings in March, a 7 percent decline from a revised February total, and a 12 percent decrease from the same month last year, according to the latest RealtyTrac™ U.S. Foreclosure Market Report.

The state posted the fourth highest foreclosure rate in the country for the month — one foreclosure filing for every 457 households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 properties from nearly 2,500 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.

 

“Georgia has consistently had one of the highest foreclosure rates in the nation, and foreclosures are expected to rise further as homeowners struggle with the burden of increasing mortgage payments on various types of adjustable-rate mortgages (ARMs),” said James J. Saccacio, chief executive officer of RealtyTrac. “Foreclosure rates in Georgia are likely to continue to rise this year as homeowners with ARMs see their payments jump higher as interest rates are reset.”

 

The Peach State posted the seventh highest foreclosure total in the country for March — 1.7 times the national average — but well behind national leader California by more than 24,600 foreclosure filings, and behind second place Florida by more than 7,500 filings. Other states posting higher foreclosure totals for the month included Texas, Michigan, Ohio and Illinois. The remaining states included in the nation’s top 10 foreclosure rates are Colorado, New Jersey and Nevada.

 

Five counties account for more than half of state’s foreclosure activity

The combined foreclosure filings in five counties accounted for 58 percent of all Georgia foreclosure activity in March. Fulton County led all counties, documenting 1,397 foreclosure filings for the month. De Kalb County came in second, reporting 905 foreclosure filings. Gwinnett County reported the third highest total, with 616 foreclosure filings. Cobb County reported the fourth highest total, where 530 foreclosure filings were documented. Clayton County rounded out the state’s top five, reporting 454 filings in the foreclosure pipeline during the month.

 

Fulton, Henry counties post state’s highest foreclosure rates

Fulton County tallied the highest foreclosure rate in the state for March, with one foreclosure filing for every 110 households — 4.2 times the state average and seven times the national average. Henry County registered the second highest rate — one foreclosure filing for every 134 households — 3.4 times the state average and 5.8 times the national average. Douglas County posted the third highest foreclosure rate, with one foreclosure filing for every 174 households — 2.6 times the state average and 4.5 times the national average.

 

State makes significant contribution to national total

Total foreclosure filings in Georgia accounted for nearly 5 percent of the 149,150 foreclosure filings nationwide in March. The national total was up almost 7 percent from the previous month, and surged 47 percent from March 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 775 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. RealtyTrac’s report includes properties in all three phases of foreclosure: Defaults — Notice of Default (NOD) and Lis Pendens (LIS); Auctions — 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).

 

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

 

 

                        Georgia Foreclosure Market by County – March 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,134

51,203

8,906

19,416

22,491

149,150

775

n/a

n/a

Georgia

16

5,390

0

0

1,363

6,769

457

1.69

n/a

 

 

 

 

 

 

 

 

 

 

Appling

0

2

0

0

0

2

3,927

0.20

0.12

Bacon

0

0

0

0

0

0

n/a 

0.00

0.00

Baldwin

0

15

0

0

0

15

1,145

0.68

0.40

Banks

0

7

0

0

2

9

645

1.20

0.71

Barrow

0

65

0

0

2

67

258

3.00

1.77

Bartow

1

5

0

0

10

16

1,797

0.43

0.25

Ben Hill

0

5

0

0

1

6

1,271

0.61

0.36

Berrien

0

3

0

0

0

3

2,367

0.33

0.19

Bibb

0

114

0

0

27

141

477

1.63

0.96

Bleckley

0

0

0

0

0

0

n/a 

0.00

0.00

Brantley

0

0

0

0

0

0

n/a 

0.00

0.00

Brooks

0

0

0

0

0

0

n/a 

0.00

0.00

Bryan

0

2

0

0

0

2

4,338

0.18

0.11

Bulloch

0

9

0

0

0

9

2,527

0.31

0.18

Burke

0

6

0

0

0

6

1,474

0.53

0.31

Butts

0

3

0

0

0

3

2,460

0.32

0.19

Camden

0

10

0

0

0

10

1,696

0.46

0.27

Candler

0

0

0

0

0

0

n/a 

0.00

0.00

Carroll

1

91

0

0

37

129

264

2.94

1.73

Catoosa

0

20

0

0

13

33

660

1.17

0.69

Charlton

0

2

0

0

0

2

1,930

0.40

0.24

Chatham

0

89

0

0

23

112

890

0.87

0.51

Chattahoochee

0

0

0

0

0

0

n/a 

0.00

0.00

Chattooga

0

16

0

0

0

16

667

1.16

0.69

Cherokee

0

120

0

0

27

147

353

2.19

1.29

Clarke

0

34

0

0

1

35

1,204

0.64

0.38

Clayton

0

323

0

0

131

454

190

4.07

2.40

Clinch

0

1

0

0

0

1

2,837

0.27

0.16

Cobb

0

397

0

0

133

530

448

1.73

1.02

Coffee

0

0

0

0

0

0

n/a 

0.00

0.00

Colquitt

0

5

0

0

0

5

3,511

0.22

0.13

Columbia

0

26

0

0

14

40

833

0.93

0.55

Cook

0

0

0

0

0

0

n/a 

0.00

0.00

Coweta

0

79

0

0

33

112

296

2.62

1.54

Crawford

0

2

0

0

0

2

2,436

0.32

0.19

Crisp

0

4

0

0

0

4

2,390

0.32

0.19

Dade

0

7

0

0

0

7

889

0.87

0.51

Dawson

0

8

0

0

1

9

796

0.97

0.57

Decatur

0

3

0

0

0

3

3,989

0.19

0.11

De Kalb

4

787

0

0

114

905

289

2.69

1.58

Dodge

0

0

0

0

0

0

n/a 

0.00

0.00

Dooly

0

0

0

0

0

0

n/a 

0.00

0.00

Dougherty

0

2

0

0

9

11

3,605

0.22

0.13

Douglas

0

131

0

0

69

200

174

4.45

2.63

Early

0

0

0

0

0

0

n/a 

0.00

0.00

Effingham

0

1

0

0

2

3

4,723

0.16

0.10

Elbert

0

9

0

0

0

9

1,015

0.76

0.45

Emanuel

0

2

0

0

0

2

4,710

0.16

0.10

Fannin

0

3

0

0

0

3

3,711

0.21

0.12

Fayette

0

66

0

0

31

97

337

2.30

1.36

Floyd

0

31

0

0

0

31

1,181

0.66

0.39

Forsyth

0

41

0

0

2

43

849

0.91

0.54

Franklin

0

6

0

0

3

9

1,034

0.75

0.44

Fulton

5

1,147

0

0

245

1,397

110

7.03

4.15

Gilmer

0

7

0

0

1

8

1,491

0.52

0.31

Glynn

0

28

0

0

1

29

1,125

0.69

0.41

Gordon

0

26

0

0

3

29

591

1.31

0.77

Grady

0

4

0

0

0

4

2,498

0.31

0.18

Greene

0

0

0

0

0

0

n/a 

0.00

0.00

Gwinnett

0

484

0

0

132

616

340

2.28

1.34

Habersham

0

19

0

0

2

21

697

1.11

0.66

Hall

0

82

0

0

23

105

486

1.59

0.94

Hancock

0

0

0

0

0

0

n/a 

0.00

0.00

Haralson

0

5

0

0

4

9

1,191

0.65

0.38

Harris

0

0

0

0

0

0

n/a 

0.00

0.00

Hart

0

6

0

0

0

6

1,852

0.42

0.25

Heard

0

0

0

0

0

0

n/a 

0.00

0.00

Henry

0

239

0

0

84

323

134

5.80

3.42

Houston

0

50

0

0

0

50

890

0.87

0.51

Irwin

0

1

0

0

0

1

4,149

0.19

0.11

Jackson

0

47

0

0

9

56

290

2.68

1.58

Jasper

0

8

0

0

3

11

437

1.77

1.05

Jeff Davis

0

0

0

0

0

0

n/a 

0.00

0.00

Jefferson

0

0

0

0

0

0

n/a 

0.00

0.00

Jenkins

0

2

0

0

0

2

1,954

0.40

0.23

Jones

0

6

0

0

0

6

1,545

0.50

0.30

Lamar

0

0

0

0

0

0

n/a 

0.00

0.00

Lanier

0

0

0

0

0

0

n/a 

0.00

0.00

Lee

0

10

0

0

0

10

881

0.88

0.52

Liberty

0

19

0

0

0

19

1,157

0.67

0.40

Lincoln

0

1

0

0

0

1

4,514

0.17

0.10

Lowndes

1

17

0

0

0

18

2,031

0.38

0.23

Lumpkin

0

12

0

0

4

16

516

1.50

0.89

Macon

0

0

0

0

0

0

n/a 

0.00

0.00

Madison

0

10

0

0

0

10

1,052

0.74

0.43

Marion

0

1

0

0

0

1

3,130

0.25

0.15

McDuffie

0

8

0

0

1

9

991

0.78

0.46

McIntosh

0

0

0

0

0

0

n/a 

0.00

0.00

Meriwether

0

0

0

0

0

0

n/a 

0.00

0.00

Miller

0

0

0

0

0

0

n/a 

0.00

0.00

Mitchell

0

1

0

0

0

1

8,880

0.09

0.05

Monroe

0

1

0

0

0

1

8,425

0.09

0.05

Montgomery

0

0

0

0

0

0

n/a 

0.00

0.00

Morgan

0

4

0

0

0

4

1,532

0.51

0.30

Murray

0

1

0

0

0

1

14,320

0.05

0.03

Muscogee

1

39

0

0

6

46

1,656

0.47

0.28

Newton

1

7

0

0

14

22

1,047

0.74

0.44

Oconee

0

1

0

0

0

1

9,528

0.08

0.05

Oglethorpe

0

0

0

0

0

0

n/a 

0.00

0.00

Paulding

0

89

0

0

20

109

269

2.89

1.70

Peach

0

8

0

0

0

8

1,137

0.68

0.40

Pickens

0

11

0

0

2

13

822

0.94

0.56

Pierce

0

4

0

0

0

4

1,680

0.46

0.27

Pike

0

7

0

0

0

7

724

1.07

0.63

Polk

0

20

0

0

7

27

558

1.39

0.82

Pulaski

0

1

0

0

0

1

3,944

0.20

0.12

Putnam

0

0

0

0

0

0

n/a 

0.00

0.00

Rabun

0

3

0

0

0

3

3,403

0.23

0.13

Richmond

0

120

0

0

56

176

468

1.66

0.98

Rockdale

0

82

0

0

41

123

204

3.80

2.24

Seminole

0

0

0

0

0

0

n/a 

0.00

0.00

Spalding

2

74

0

0

6

82

281

2.76

1.63

Stephens

0

5

0

0

2

7

1,665

0.47

0.27

Sumter

0

5

0

0

0

5

2,740

0.28

0.17

Talbot

0

1

0

0

0

1

2,871

0.27

0.16

Taliaferro

0

0

0

0

0

0

n/a 

0.00

0.00

Tattnall

0

2

0

0

0

2

4,289

0.18

0.11

Taylor

0

0

0

0

0

0

n/a 

0.00

0.00

Terrell

0

0

0

0

0

0

n/a 

0.00

0.00

Thomas

0

1

0

0

0

1

18,285

0.04

0.03

Tift

0

7

0

0

0

7

2,202

0.35

0.21

Toombs

0

0

0

0

0

0

n/a 

0.00

0.00

Towns

0

0

0

0

0

0

n/a 

0.00

0.00

Troup

0

2

0

0

0

2

11,912

0.07

0.04

Turner

0

0

0

0

0

0

n/a 

0.00

0.00

Union

0

0

0

0

0

0

n/a 

0.00

0.00

Upson

0

0

0

0

0

0

n/a 

0.00

0.00

Walker

0

25

0

0

3

28

913

0.85

0.50

Walton

0

23

0

0

4

27

833

0.93

0.55

Ware

0

11

0

0

0

11

1,439

0.54

0.32

Warren

0

0

0

0

0

0

n/a 

0.00

0.00

Washington

0

0

0

0

0

0

n/a 

0.00

0.00

Wayne

0

6

0

0

0

6

1,805

0.43

0.25

White

0

12

0

0

4

16

591

1.31

0.77

Whitfield

0

23

0

0

1

24

1,655

0.47

0.28

Wilcox

0

0

0

0

0

0

n/a 

0.00

0.00

Wilkes

0

1

0

0

0

1

5,022

0.15

0.09

Wilkinson

0

1

0

0

0

1

4,449

0.17

0.10

Worth

0

1

0

0

0

1

9,086

0.09

0.05

 

 

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 construction properties, 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).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

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