GEORGIA FORECLOSURE ACTIVITY DOWN 13 PERCENT IN AUGUST

Statewide Filings Down 11 Percent From August 2007; Rate Ranks Sixth

 

IRVINE, Calif. – Sept. 26, 2008 – Georgia reported 8,755 properties with foreclosure filings in August, a 13 percent decrease from the previous month, and down 11 percent from August 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 442 Georgia households received a foreclosure filing during August, the sixth highest foreclosure rate among the 50 states.

 

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 has been fluctuating within a narrow range in Georgia so far in 2008,” said James J. Saccacio, chief executive officer of RealtyTrac. “This latest downturn in activity for August is offset by the fact that the state’s unemployment rate moved above the national average to 6.3 percent, the state’s highest jobless rate since 1993. The state is hemorrhaging jobs, especially in the financial and construction sectors. With a very challenging job market, and the slow growth rate of home prices, homeowners could see a rise in foreclosure activity in the months ahead.

 

Foreclosure activity in the Peach State was far behind national leader California, which reported 101,724 properties with foreclosure filings in August. Second place Florida reported 44,000 properties with foreclosure filings, while third place Arizona had 14,333 properties with foreclosure filings. Michigan documented 13,605 properties with foreclosure filings for the fourth highest total, followed by Nevada reporting 11,706 properties with foreclosure filings, the nation’s fifth highest total. The remaining states in the nation’s top 10 for total foreclosure filings in August were Ohio, Texas, Illinois and New Jersey.

 

Five counties account for bulk of state’s foreclosure activity in August

Foreclosure activity in five Georgia counties accounted for 57 percent of all foreclosure filings in the state in August. Fulton County led all counties, reporting 1,572 properties with foreclosure filings for the month. Second place DeKalb County documented 1,278 properties with foreclosure filings. Third place Gwinnett County reported 983 properties with foreclosure filings. Cobb County posted the fourth highest foreclosure total, reporting 694 properties with foreclosure filings, followed by fifth ranked Henry County, reporting 460 properties with foreclosure filings.

 

Henry County posts state’s highest foreclosure rate for the month

One in every 148 households in Henry County received a foreclosure filing during August — three times the state average and 2.8 times the national average. Douglas County registered the second highest foreclosure rate, with one in every 190 households receiving a foreclosure filing — 2.3 times the state average and 2.2 times the national average. Third highest rate was reported in Rockdale County, where one in every 194 households received a foreclosure filing — 2.3 times the state average and 2.2 times the national average.

 

State a significant contributor to nation’s total in August

Georgia accounted for 3 percent of the 303,879 properties with foreclosure filings reported nationwide in August. The national total represents an increase of 12 percent from the previous month and is 27 percent ahead of the total reported for August 2007. The nation’s foreclosure rate increased to one in every 416 U.S. households receiving a foreclosure filing during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of foreclosure filings — both nationwide and by state — over the preceding month. 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 Data by County – August 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

61,903

57,156

69,693

24,234

90,893

303,879

416

n/a

n/a

Georgia

93

0

5,699

0

2,963

8,755

442

0.94

n/a

 

 

 

 

 

 

 

 

 

Appling

0

0

0

0

0

0

n/a

0.00

0.00

Atkinson

0

0

0

0

0

0

 n/a

0.00

0.00

Bacon

0

0

0

0

0

0

 n/a

0.00

0.00

Baker

0

0

0

0

0

0

 n/a

0.00

0.00

Baldwin

0

0

1

0

0

1

18,738

0.02

0.02

Banks

0

0

5

0

2

7

948

0.44

0.47

Barrow

0

0

79

0

35

114

215

1.93

2.06

Bartow

2

0

72

0

31

105

343

1.21

1.29

Ben Hill

0

0

9

0

5

14

566

0.73

0.78

Berrien

0

0

4

0

0

4

1,870

0.22

0.24

Bibb

2

0

102

0

92

196

363

1.15

1.22

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

3

0

0

3

2,455

0.17

0.18

Bryan

0

0

6

0

0

6

1,901

0.22

0.23

Bulloch

0

0

0

0

1

1

26,052

0.02

0.02

Burke

0

0

0

0

0

0

 n/a

0.00

0.00

Butts

0

0

10

0

6

16

566

0.73

0.78

Calhoun

0

0

0

0

2

2

1,172

0.35

0.38

Camden

0

0

0

0

1

1

20,277

0.02

0.02

Candler

0

0

0

0

0

0

 n/a

0.00

0.00

Carroll

0

0

76

0

67

143

310

1.34

1.43

Catoosa

0

0

22

0

3

25

1,022

0.41

0.43

Charlton

0

0

2

0

0

2

2,016

0.21

0.22

Chatham

0

0

96

0

31

127

868

0.48

0.51

Chattahoochee

0

0

0

0

0

0

 n/a

0.00

0.00

Chattooga

0

0

6

0

1

7

1,560

0.27

0.28

Cherokee

9

0

157

0

70

236

319

1.30

1.39

Clarke

0

0

39

0

2

41

1,198

0.35

0.37

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Clayton

2

0

321

0

39

362

287

1.45

1.54

Clinch

0

0

0

0

0

0

 n/a

0.00

0.00

Cobb

7

0

446

0

241

694

395

1.05

1.12

Coffee

0

0

9

0

0

9

1,845

0.23

0.24

Colquitt

0

0

7

0

0

7

2,600

0.16

0.17

Columbia

0

0

39

0

8

47

885

0.47

0.50

Cook

0

0

5

0

0

5

1,366

0.30

0.32

Coweta

4

0

92

0

16

112

395

1.05

1.12

Crawford

0

0

1

0

4

5

1,130

0.37

0.39

Crisp

0

0

2

0

0

2

5,034

0.08

0.09

Dade

0

0

6

0

0

6

1,075

0.39

0.41

Dawson

0

0

14

0

5

19

499

0.83

0.89

Decatur

0

0

7

0

0

7

1,934

0.21

0.23

Dekalb

15

0

680

0

583

1,278

236

1.76

1.87

Dodge

0

0

0

0

0

0

 n/a

0.00

0.00

Dooly

0

0

1

0

0

1

4,568

0.09

0.10

Dougherty

0

0

4

0

15

19

2,180

0.19

0.20

Douglas

3

0

141

0

101

245

190

2.18

2.32

Early

0

0

0

0

0

0

 n/a

0.00

0.00

Echols

0

0

0

0

1

1

1,524

0.27

0.29

Effingham

0

0

14

0

9

23

782

0.53

0.57

Elbert

0

0

2

0

0

2

4,692

0.09

0.09

Emanuel

0

0

0

0

0

0

 n/a

0.00

0.00

Evans

0

0

0

0

0

0

 n/a

0.00

0.00

Fannin

0

0

5

0

0

5

3,322

0.13

0.13

Fayette

1

0

61

0

17

79

485

0.86

0.91

Floyd

1

0

38

0

0

39

1,014

0.41

0.44

Forsyth

1

0

46

0

34

81

686

0.61

0.65

Franklin

0

0

2

0

3

5

1,910

0.22

0.23

Fulton

25

0

1,128

0

419

1,572

268

1.55

1.65

Gilmer

0

0

20

0

9

29

543

0.77

0.82

Glascock

0

0

0

0

0

0

 n/a

0.00

0.00

Glynn

0

0

17

0

0

17

2,194

0.19

0.20

Gordon

0

0

24

0

9

33

619

0.67

0.71

Grady

0

0

2

0

0

2

5,207

0.08

0.08

Greene

0

0

0

0

1

1

7,905

0.05

0.06

Gwinnett

10

0

533

0

440

983

280

1.49

1.58

Habersham

0

0

12

0

11

23

745

0.56

0.59

Hall

0

0

124

0

12

136

449

0.93

0.98

Hancock

0

0

0

0

0

0

 n/a

0.00

0.00

Haralson

0

0

2

0

16

18

659

0.63

0.67

Harris

0

0

5

0

0

5

2,512

0.17

0.18

Hart

0

0

2

0

1

3

3,948

0.11

0.11

Heard

0

0

0

0

1

1

4,844

0.09

0.09

Henry

5

0

259

0

196

460

148

2.80

2.98

Houston

0

0

63

0

15

78

701

0.59

0.63

Irwin

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

0

22

0

13

35

639

0.65

0.69

Jasper

0

0

8

0

4

12

498

0.83

0.89

Jeff Davis

0

0

5

0

0

5

1,131

0.37

0.39

Jefferson

0

0

3

0

0

3

2,460

0.17

0.18

Jenkins

0

0

2

0

0

2

1,971

0.21

0.22

Johnson

0

0

0

0

0

0

 n/a

0.00

0.00

Jones

0

0

4

0

0

4

2,718

0.15

0.16

Lamar

0

0

8

0

0

8

888

0.47

0.50

Lanier

0

0

0

0

0

0

 n/a

0.00

0.00

Laurens

0

0

9

0

0

9

2,242

0.19

0.20

Lee

0

0

8

0

0

8

1,399

0.30

0.32

Liberty

0

0

20

0

0

20

1,195

0.35

0.37

Lincoln

0

0

1

0

0

1

4,753

0.09

0.09

Long

0

0

1

0

0

1

4,338

0.10

0.10

Lowndes

0

0

27

0

0

27

1,553

0.27

0.28

Lumpkin

0

0

8

0

2

10

1,065

0.39

0.42

Macon

0

0

3

0

0

3

1,876

0.22

0.24

Madison

0

0

8

0

0

8

1,439

0.29

0.31

Marion

0

0

2

0

0

2

1,603

0.26

0.28

Mcduffie

0

0

0

0

3

3

3,091

0.13

0.14

Mcintosh

0

0

2

0

0

2

3,252

0.13

0.14

Meriwether

0

0

9

0

0

9

1,141

0.36

0.39

Miller

0

0

0

0

0

0

 n/a

0.00

0.00

Mitchell

0

0

6

0

1

7

1,323

0.31

0.33

Monroe

0

0

3

0

0

3

3,180

0.13

0.14

Montgomery

0

0

3

0

0

3

1,258

0.33

0.35

Morgan

0

0

8

0

0

8

919

0.45

0.48

Murray

0

0

14

0

0

14

1,125

0.37

0.39

Muscogee

1

0

60

0

26

87

944

0.44

0.47

Newton

0

0

21

0

49

70

505

0.82

0.88

Oconee

0

0

14

0

4

18

666

0.62

0.66

Oglethorpe

0

0

1

0

0

1

6,080

0.07

0.07

Paulding

0

0

46

0

58

104

453

0.92

0.98

Peach

0

0

16

0

2

18

573

0.73

0.77

Pickens

0

0

15

0

2

17

792

0.52

0.56

Pierce

0

0

0

0

0

0

 n/a

0.00

0.00

Pike

0

0

11

0

5

16

406

1.02

1.09

Polk

0

0

23

0

17

40

419

0.99

1.06

Pulaski

0

0

1

0

0

1

4,215

0.10

0.10

Putnam

0

0

7

0

0

7

1,702

0.24

0.26

Quitman

0

0

0

0

0

0

 n/a

0.00

0.00

Rabun

0

0

4

0

0

4

3,089

0.13

0.14

Randolph

0

0

0

0

0

0

 n/a

0.00

0.00

Richmond

1

0

101

0

35

137

630

0.66

0.70

Rockdale

1

0

90

0

65

156

194

2.15

2.29

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

0

0

2

2

2,452

0.17

0.18

Spalding

0

0

34

0

46

80

322

1.29

1.37

Stephens

0

0

1

0

4

5

2,450

0.17

0.18

Stewart

0

0

0

0

0

0

 n/a

0.00

0.00

Sumter

0

0

4

0

1

5

2,839

0.15

0.16

Talbot

0

0

2

0

0

2

1,534

0.27

0.29

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

0

0

0

0

 n/a

0.00

0.00

Telfair

0

0

2

0

0

2

2,572

0.16

0.17

Terrell

0

0

1

0

0

1

4,659

0.09

0.09

Thomas

0

0

17

0

0

17

1,157

0.36

0.38

Tift

0

0

9

0

0

9

1,796

0.23

0.25

Toombs

0

0

7

0

0

7

1,685

0.25

0.26

Towns

0

0

3

0

0

3

2,645

0.16

0.17

Treutlen

0

0

0

0

0

0

 n/a

0.00

0.00

Troup

1

0

27

0

2

30

885

0.47

0.50

Turner

0

0

0

0

0

0

 n/a

0.00

0.00

Twiggs

0

0

2

0

0

2

2,216

0.19

0.20

Union

0

0

6

0

0

6

2,154

0.19

0.21

Upson

0

0

0

0

0

0

 n/a

0.00

0.00

Walker

0

0

41

0

6

47

598

0.69

0.74

Walton

2

0

65

0

46

113

271

1.54

1.63

Ware

0

0

15

0

0

15

1,091

0.38

0.41

Warren

0

0

0

0

0

0

 n/a

0.00

0.00

Washington

0

0

5

0

0

5

1,707

0.24

0.26

Wayne

0

0

0

0

0

0

 n/a

0.00

0.00

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

6

0

12

18

644

0.65

0.69

Whitfield

0

0

33

0

2

35

991

0.42

0.45

Wilcox

0

0

1

0

1

2

1,691

0.25

0.26

Wilkes

0

0

1

0

0

1

5,165

0.08

0.09

Wilkinson

0

0

0

0

0

0

 n/a

0.00

0.00

Worth

0

0

0

0

0

0

 n/a

0.00

0.00

 

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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