GEORGIA FORECLOSURE ACTIVITY DOWN 1 PERCENT IN JANUARY

 

Filings Statewide Decrease 7 Percent From January 2008; Rate in Top 10

 

IRVINE, Calif. – Feb. 27, 2009 – Foreclosure filings were reported on 9,907 Georgia properties in January, down 1 percent from the previous month and 7 percent below the level reported for January 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 400 Georgia housing units received a foreclosure filing during the month, the eighth highest state foreclosure rate in the nation.

 

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.

 

“Although Georgia’s foreclosure activity decreased slightly in January and from this time last year, the state still remains among the nation’s highest,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state’s unemployment rate is currently about 1 percent above the national average, while home sales have decreased more than double the rate of most states during the past year. As these economic factors persist, foreclosures there are expected to remain high in the short term.”

 

Five counties account for bulk of state activity in January

Five Georgia counties accounted for 50 percent of all foreclosure activity in the state during January. Fulton County led the pack, reporting 1,637 properties with foreclosure filings for the month. Gwinnett County was second highest, reporting 1,072 properties with foreclosure filings. Dekalb County came in third place, reporting 1,032 properties with foreclosure filings. Cobb County came in fourth, documenting 676 properties with foreclosure filings. Fifth highest total activity was in Clayton County, where 547 properties with foreclosure filings were reported.

 

Newton County posts state’s highest foreclosure rate for January

With one in every 145 housing units receiving a foreclosure filing — 2.8 times the state average and 3.2 times the national average — Newton County reported the highest foreclosure rate in the state for January. Walton County posted the state’s second highest rate, with one in every 151 housing units received a foreclosure filing — 2.7 times the state average and 3.1 times the national average. Third highest rate was documented in Clayton County, where one in every 194 housing units received a foreclosure filing during the month — 2.1 times the state average and 2.4 times the national average.

 

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

Georgia accounted for 4 percent of the 274,399 properties with foreclosure filings reported nationwide in January. The national total represented a decrease of more than 9 percent from the previous month but was still nearly 18 percent ahead of the total reported for January 2008. One in every 466 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.

 

              Georgia Foreclosure Market Data by County – January 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,681

52,435

80,986

27,520

66,777

274,399

466

n/a

n/a

Georgia

1

0

7,112

0

2,794

9,907

400

1.17

n/a

 

 

 

 

 

 

 

 

 

 

Appling

0

0

2

0

0

2

3,986

0.12

0.10

Atkinson

0

0

0

0

0

0

 n/a

0.00

0.00

Bacon

0

0

0

0

2

2

2,254

0.21

0.18

Baker

0

0

0

0

0

0

 n/a

0.00

0.00

Baldwin

0

0

2

0

0

2

9,556

0.05

0.04

Banks

0

0

7

0

3

10

677

0.69

0.59

Barrow

0

0

47

0

47

94

272

1.72

1.47

Bartow

0

0

90

0

26

116

319

1.46

1.25

Ben Hill

0

0

8

0

2

10

794

0.59

0.50

Berrien

0

0

2

0

1

3

2,509

0.19

0.16

Bibb

0

0

124

0

30

154

465

1.00

0.86

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

4

0

0

4

1,837

0.25

0.22

Bryan

0

0

2

0

0

2

5,964

0.08

0.07

Bulloch

0

0

0

0

5

5

5,375

0.09

0.07

Burke

0

0

3

0

4

7

1,325

0.35

0.30

Butts

0

0

28

0

12

40

231

2.02

1.73

Calhoun

0

0

1

0

0

1

2,343

0.20

0.17

Camden

0

0

3

0

6

9

2,315

0.20

0.17

Candler

0

0

2

0

0

2

1,981

0.24

0.20

Carroll

0

0

163

0

41

204

222

2.09

1.80

Catoosa

0

0

1

0

9

10

2,604

0.18

0.15

Charlton

0

0

3

0

2

5

813

0.57

0.49

Chatham

0

0

138

0

11

149

760

0.61

0.53

Chattahoochee

0

0

1

0

0

1

3,355

0.14

0.12

Chattooga

0

0

2

0

6

8

1,362

0.34

0.29

Cherokee

0

0

172

0

55

227

348

1.34

1.15

Clarke

0

0

49

0

3

52

961

0.49

0.42

Clay

0

0

0

0

1

1

1,961

0.24

0.20

Clayton

0

0

368

0

179

547

194

2.41

2.06

Clinch

0

0

1

0

0

1

2,908

0.16

0.14

Cobb

0

0

474

0

202

676

411

1.13

0.97

Coffee

0

0

1

0

1

2

8,347

0.06

0.05

Colquitt

0

0

14

0

2

16

1,148

0.41

0.35

Columbia

0

0

39

0

13

52

825

0.57

0.48

Cook

0

0

8

0

1

9

762

0.61

0.52

Coweta

0

0

76

0

45

121

380

1.23

1.05

Crawford

0

0

3

0

1

4

1,437

0.32

0.28

Crisp

0

0

0

0

1

1

10,125

0.05

0.04

Dade

0

0

3

0

3

6

1,076

0.43

0.37

Dawson

0

0

16

0

6

22

448

1.04

0.89

Decatur

0

0

0

0

2

2

6,816

0.07

0.06

Dekalb

0

0

728

0

304

1,032

297

1.57

1.35

Dodge

0

0

5

0

2

7

1,210

0.39

0.33

Dooly

0

0

0

0

1

1

4,571

0.10

0.09

Dougherty

0

0

3

0

7

10

4,161

0.11

0.10

Douglas

0

0

166

0

59

225

216

2.16

1.85

Early

0

0

0

0

0

0

 n/a

0.00

0.00

Echols

0

0

0

0

0

0

 n/a

0.00

0.00

Effingham

0

0

10

0

6

16

1,179

0.40

0.34

Elbert

0

0

1

0

2

3

3,155

0.15

0.13

Emanuel

0

0

2

0

0

2

4,821

0.10

0.08

Evans

0

0

4

0

1

5

920

0.51

0.43

Fannin

0

0

9

0

3

12

1,425

0.33

0.28

Fayette

0

0

64

0

26

90

433

1.08

0.92

Floyd

0

0

47

0

13

60

665

0.70

0.60

Forsyth

0

0

77

0

22

99

607

0.77

0.66

Franklin

0

0

10

0

3

13

735

0.63

0.54

Fulton

1

0

1,056

0

580

1,637

264

1.77

1.52

Gilmer

0

0

19

0

5

24

681

0.68

0.59

Glascock

0

0

0

0

0

0

 n/a

0.00

0.00

Glynn

0

0

12

0

7

19

2,009

0.23

0.20

Gordon

0

0

6

0

9

15

1,395

0.33

0.29

Grady

0

0

10

0

2

12

878

0.53

0.46

Greene

0

0

12

0

0

12

676

0.69

0.59

Gwinnett

0

0

741

0

331

1,072

265

1.76

1.51

Habersham

0

0

17

0

4

21

838

0.56

0.48

Hall

0

0

119

0

55

174

361

1.29

1.11

Hancock

0

0

0

0

0

0

 n/a

0.00

0.00

Haralson

0

0

21

0

7

28

430

1.08

0.93

Harris

0

0

9

0

3

12

1,079

0.43

0.37

Hart

0

0

12

0

0

12

1,002

0.47

0.40

Heard

0

0

5

0

4

9

540

0.86

0.74

Henry

0

0

256

0

96

352

203

2.30

1.97

Houston

0

0

72

0

11

83

682

0.68

0.59

Irwin

0

0

2

0

0

2

2,096

0.22

0.19

Jackson

0

0

90

0

14

104

227

2.06

1.76

Jasper

0

0

7

0

1

8

764

0.61

0.52

Jeff Davis

0

0

1

0

0

1

5,637

0.08

0.07

Jefferson

0

0

6

0

1

7

1,056

0.44

0.38

Jenkins

0

0

0

0

0

0

 n/a

0.00

0.00

Johnson

0

0

2

0

0

2

1,827

0.26

0.22

Jones

0

0

14

0

3

17

651

0.72

0.61

Lamar

0

0

14

0

1

15

483

0.96

0.83

Lanier

0

0

2

0

0

2

1,700

0.27

0.24

Laurens

0

0

26

0

2

28

720

0.65

0.56

Lee

0

0

4

0

1

5

2,340

0.20

0.17

Liberty

0

0

22

0

5

27

893

0.52

0.45

Lincoln

0

0

1

0

1

2

2,388

0.20

0.17

Long

0

0

7

0

1

8

540

0.86

0.74

Lowndes

0

0

46

0

6

52

830

0.56

0.48

Lumpkin

0

0

13

0

4

17

653

0.71

0.61

Macon

0

0

1

0

1

2

2,824

0.17

0.14

Madison

0

0

23

0

5

28

418

1.11

0.96

Marion

0

0

3

0

1

4

799

0.58

0.50

Mcduffie

0

0

9

0

1

10

930

0.50

0.43

Mcintosh

0

0

3

0

2

5

1,342

0.35

0.30

Meriwether

0

0

12

0

2

14

741

0.63

0.54

Miller

0

0

4

0

0

4

701

0.66

0.57

Mitchell

0

0

1

0

0

1

9,334

0.05

0.04

Monroe

0

0

13

0

2

15

671

0.69

0.60

Montgomery

0

0

3

0

0

3

1,262

0.37

0.32

Morgan

0

0

1

0

4

5

1,510

0.31

0.26

Murray

0

0

29

0

5

34

472

0.99

0.85

Muscogee

0

0

107

0

34

141

589

0.79

0.68

Newton

0

0

193

0

62

255

145

3.22

2.76

Oconee

0

0

15

0

5

20

625

0.75

0.64

Oglethorpe

0

0

7

0

0

7

888

0.53

0.45

Paulding

0

0

191

0

25

216

233

2.00

1.72

Peach

0

0

18

0

1

19

560

0.83

0.71

Pickens

0

0

27

0

3

30

460

1.01

0.87

Pierce

0

0

9

0

0

9

839

0.56

0.48

Pike

0

0

7

0

1

8

841

0.55

0.48

Polk

0

0

52

0

11

63

269

1.74

1.49

Pulaski

0

0

2

0

2

4

1,058

0.44

0.38

Putnam

0

0

15

0

4

19

647

0.72

0.62

Quitman

0

0

0

0

0

0

 n/a

0.00

0.00

Rabun

0

0

6

0

0

6

2,118

0.22

0.19

Randolph

0

0

0

0

0

0

 n/a

0.00

0.00

Richmond

0

0

104

0

64

168

517

0.90

0.77

Rockdale

0

0

103

0

49

152

205

2.27

1.95

Schley

0

0

0

0

0

0

 n/a

0.00

0.00

Screven

0

0

0

0

0

0

 n/a

0.00

0.00

Seminole

0

0

1

0

0

1

4,912

0.09

0.08

Spalding

0

0

76

0

21

97

271

1.72

1.48

Stephens

0

0

21

0

2

23

538

0.87

0.74

Stewart

0

0

1

0

1

2

1,176

0.40

0.34

Sumter

0

0

12

0

1

13

1,094

0.43

0.37

Talbot

0

0

7

0

0

7

440

1.06

0.91

Taliaferro

0

0

0

0

0

0

 n/a

0.00

0.00

Tattnall

0

0

0

0

0

0

 n/a

0.00

0.00

Taylor

0

0

1

0

0

1

4,197

0.11

0.10

Telfair

0

0

4

0

0

4

1,283

0.36

0.31

Terrell

0

0

1

0

1

2

2,344

0.20

0.17

Thomas

0

0

20

0

1

21

954

0.49

0.42

Tift

0

0

17

0

4

21

774

0.60

0.52

Toombs

0

0

5

0

1

6

1,973

0.24

0.20

Towns

0

0

9

0

0

9

923

0.51

0.43

Treutlen

0

0

0

0

0

0

 n/a

0.00

0.00

Troup

0

0

35

0

6

41

657

0.71

0.61

Turner

0

0

2

0

1

3

1,324

0.35

0.30

Twiggs

0

0

5

0

0

5

887

0.53

0.45

Union

0

0

17

0

2

19

704

0.66

0.57

Upson

0

0

12

0

6

18

684

0.68

0.58

Walker

0

0

33

0

21

54

527

0.88

0.76

Walton

0

0

126

0

85

211

151

3.09

2.65

Ware

0

0

4

0

0

4

4,110

0.11

0.10

Warren

0

0

3

0

1

4

698

0.67

0.57

Washington

0

0

0

0

1

1

8,537

0.05

0.05

Wayne

0

0

4

0

6

10

1,103

0.42

0.36

Webster

0

0

0

0

0

0

 n/a

0.00

0.00

Wheeler

0

0

0

0

0

0

 n/a

0.00

0.00

White

0

0

10

0

1

11

1,082

0.43

0.37

Whitfield

0

0

95

0

18

113

311

1.50

1.28

Wilcox

0

0

0

0

0

0

 n/a

0.00

0.00

Wilkes

0

0

2

0

1

3

1,724

0.27

0.23

Wilkinson

0

0

8

0

0

8

567

0.82

0.71

Worth

0

0

16

0

4

20

471

0.99

0.85

 

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).

 

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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