GEORGIA FORECLOSURE ACTIVITY DOWN 14 PERCENT IN DECEMBER

Activity Up 19 Percent From December 2006; Foreclosure Rate in Nation’s Top 10

 

IRVINE, Calif. – Jan. 25, 2008 – Georgia reported 7,697 foreclosure filings in December, a 14 percent decrease from the previous month, but still 19 percent above the level reported for December 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 490 households was 1.2 times the national average, ranking it eighth highest among the 50 states.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1 million 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.

 

“After peaking back in August, total foreclosure filings in Georgia declined for the second straight month in December,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment seems to be in check, hovering at or near the national average. Still, whether this two-month drop in foreclosure activity signals that the worst is over for foreclosures in Georgia is still yet to be seen.”

 

Although ranked eighth in the country for December, foreclosure activity in the Peach State lagged far behind national leader California by more than 45,500 foreclosure filings. The state was also outdistanced by second ranked Florida by 23,500 foreclosure filings for the month. Texas reported the nation’s third highest total with 12,253 foreclosure filings, while Ohio came in a close fourth with 12,066 foreclosure filings in some stage of the foreclosure pipeline. Michigan reported the nation’s fifth highest foreclosure total with 11,644 foreclosure filings in December. The remaining states in the nation’s top 10 foreclosure filings for the month were Nevada, Illinois, Arizona and Colorado.

 

Fulton County leads state in foreclosure filings for December

Fulton County led the state in total foreclosure activity, reporting 1,462 foreclosure filings in December. DeKalb County tallied the second highest total, reporting 774 foreclosure filings for the month. Gwinnett County came in a close third with 769 foreclosure filings. Cobb County came in fourth with 624 foreclosure filings while Clayton County rounded out the state’s top five with 522 foreclosure filings for the month. Total foreclosure filings in the top five counties accounted for 54 percent of all filings entering some stage of the foreclosure pipeline in the state for the month.

 

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

Henry County led the state with the highest foreclosure rate for December, one foreclosure filing for every 154 households — 3.2 times the state average and 3.8 times the national average. Clayton County posted the second highest rate in the state, one foreclosure filing for every 195 households — 2.5 times the state average and three times the national average. Douglas County posted the third highest rate, one foreclosure filing for every 226 households — 2.2 times the state average and 2.6 times the national average. Rockdale County was fourth highest with a rate of one foreclosure filing for every 234 households, and Fulton County rounded out the state’s top five with a rate of one foreclosure filing for every 277 households.

 

State a major contributor to national total

Total foreclosure filings in Georgia accounted for 4 percent of the 215,749 foreclosure filings reported nationwide in December. The national total represents a 7 percent increase from the previous month, and is 97 percent above the total reported for December 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 577 U.S. households for 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 by County – December 2007

 

County

NOD

NTS

NFS

LIS

REO

Total Filings

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

46,182

54,280

18,488

47,945

48,854

215,749

577

n/a

n/a

Georgia

36

5,671

0

0

1,990

7,697

490

1.18

n/a

 

 

 

 

 

 

 

 

 

 

Appling

0

2

0

0

0

2

4,001

0.14

0.12

Atkinson

0

1

0

0

0

1

3,234

0.18

0.15

Bacon

0

3

0

0

0

3

1,510

0.38

0.32

Baker

0

0

0

0

0

0

n/a

0.00

0.00

Baldwin

0

12

0

0

0

12

1,527

0.38

0.32

Banks

0

5

0

0

2

7

926

0.62

0.53

Barrow

0

45

0

0

22

67

345

1.67

1.42

Bartow

1

1

0

0

29

31

1,131

0.51

0.43

Ben Hill

0

4

0

0

2

6

1,312

0.44

0.37

Berrien

0

4

0

0

0

4

1,852

0.31

0.26

Bibb

0

143

0

0

92

235

300

1.92

1.63

Bleckley

0

0

0

0

1

1

5,072

0.11

0.10

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

13

0

0

0

13

826

0.70

0.59

Bulloch

0

7

0

0

0

7

3,654

0.16

0.13

Burke

0

8

0

0

0

8

1,147

0.50

0.43

Butts

0

2

0

0

0

2

4,411

0.13

0.11

Calhoun

0

0

0

0

0

0

n/a

0.00

0.00

Camden

0

13

0

0

0

13

1,508

0.38

0.32

Candler

0

0

0

0

0

0

n/a

0.00

0.00

Carroll

0

104

0

0

25

129

333

1.73

1.47

Catoosa

0

28

0

0

11

39

634

0.91

0.77

Charlton

0

2

0

0

0

2

1,996

0.29

0.25

Chatham

0

127

0

0

52

179

603

0.96

0.81

Chattahoochee

0

1

0

0

0

1

3,336

0.17

0.15

Chattooga

0

13

0

0

0

13

837

0.69

0.59

Cherokee

2

162

0

0

67

231

309

1.87

1.59

Clarke

0

22

0

0

0

22

2,191

0.26

0.22

Clay

0

0

0

0

0

0

n/a

0.00

0.00

Clayton

1

380

0

0

141

522

195

2.96

2.51

Clinch

0

1

0

0

0

1

2,895

0.20

0.17

Cobb

4

379

0

0

241

624

430

1.34

1.14

Coffee

0

7

0

0

0

7

2,354

0.25

0.21

Colquitt

0

7

0

0

0

7

2,571

0.22

0.19

Columbia

0

25

0

0

12

37

1,079

0.53

0.45

Cook

0

0

0

0

0

0

n/a

0.00

0.00

Coweta

0

91

0

0

52

143

296

1.95

1.66

Crawford

0

1

0

0

1

2

2,773

0.21

0.18

Crisp

0

6

0

0

0

6

1,661

0.35

0.30

Dade

0

2

0

0

1

3

2,132

0.27

0.23

Dawson

0

8

0

0

5

13

698

0.83

0.70

Decatur

0

6

0

0

0

6

2,209

0.26

0.22

DeKalb

3

758

0

0

13

774

381

1.51

1.28

Dodge

0

3

0

0

0

3

2,803

0.21

0.17

Dooly

0

1

0

0

0

1

4,560

0.13

0.11

Dougherty

0

22

0

0

0

22

1,876

0.31

0.26

Douglas

0

127

0

0

71

198

226

2.55

2.17

Early

0

1

0

0

0

1

5,451

0.11

0.09

Echols

0

0

0

0

0

0

n/a

0.00

0.00

Effingham

7

0

0

0

14

21

815

0.71

0.60

Elbert

0

4

0

0

0

4

2,323

0.25

0.21

Emanuel

0

3

0

0

0

3

3,200

0.18

0.15

Evans

0

2

0

0

0

2

2,269

0.25

0.22

Fannin

0

5

0

0

0

5

3,170

0.18

0.15

Fayette

0

65

0

0

20

85

441

1.31

1.11

Floyd

0

43

0

0

0

43

907

0.64

0.54

Forsyth

1

55

0

0

17

73

706

0.82

0.69

Franklin

0

4

0

0

0

4

2,386

0.24

0.21

Fulton

10

1,156

0

0

296

1,462

277

2.08

1.77

Gilmer

0

8

0

0

7

15

1,005

0.57

0.49

Glascock

0

0

0

0

0

0

n/a

0.00

0.00

Glynn

0

19

0

0

0

19

1,912

0.30

0.26

Gordon

0

20

0

0

5

25

796

0.72

0.62

Grady

0

1

0

0

0

1

10,337

0.06

0.05

Greene

0

0

0

0

1

1

7,634

0.08

0.06

Gwinnett

2

509

0

0

258

769

345

1.67

1.42

Habersham

0

15

0

0

2

17

985

0.59

0.50

Hall

0

77

0

0

35

112

527

1.09

0.93

Hancock

0

0

0

0

0

0

n/a

0.00

0.00

Haralson

0

3

0

0

7

10

1,163

0.50

0.42

Harris

0

8

0

0

0

8

1,518

0.38

0.32

Hart

0

7

0

0

0

7

1,662

0.35

0.29

Heard

0

0

0

0

1

1

4,815

0.12

0.10

Henry

2

294

0

0

124

420

154

3.76

3.19

Houston

0

46

0

0

0

46

1,153

0.50

0.43

Irwin

0

2

0

0

0

2

2,104

0.27

0.23

Jackson

0

20

0

0

10

30

702

0.82

0.70

Jasper

0

7

0

0

7

14

411

1.40

1.19

Jeff Davis

0

1

0

0

0

1

5,672

0.10

0.09

Jefferson

0

3

0

0

0

3

2,456

0.23

0.20

Jenkins

0

0

0

0

0

0

n/a

0.00

0.00

Johnson

0

0

0

0

0

0

n/a

0.00

0.00

Jones

0

15

0

0

0

15

711

0.81

0.69

Lamar

0

14

0

0

0

14

494

1.17

0.99

Lanier

0

0

0

0

0

0

n/a

0.00

0.00

Laurens

0

0

0

0

0

0

n/a

0.00

0.00

Lee

0

10

0

0

0

10

1,080

0.53

0.45

Liberty

0

10

0

0

0

10

2,362

0.24

0.21

Lincoln

0

0

0

0

0

0

n/a

0.00

0.00

Long

0

0

0

0

0

0

n/a

0.00

0.00

Lowndes

0

23

0

0

0

23

1,782

0.32

0.27

Lumpkin

0

10

0

0

4

14

726

0.80

0.68

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

5

0

0

0

5

2,266

0.25

0.22

Marion

0

1

0

0

0

1

3,210

0.18

0.15

Mcduffie

0

9

0

0

2

11

841

0.69

0.58

McIntosh

0

3

0

0

0

3

2,105

0.27

0.23

Meriwether

0

7

0

0

0

7

1,451

0.40

0.34

Miller

0

0

0

0

0

0

n/a

0.00

0.00

Mitchell

0

1

0

0

0

1

9,246

0.06

0.05

Monroe

0

0

0

0

0

0

n/a

0.00

0.00

Montgomery

0

0

0

0

0

0

n/a

0.00

0.00

Morgan

0

6

0

0

0

6

1,181

0.49

0.41

Murray

0

0

0

0

0

0

n/a

0.00

0.00

Muscogee

0

82

0

0

50

132

614

0.94

0.80

Newton

0

2

0

0

35

37

902

0.64

0.54

Oconee

0

6

0

0

0

6

1,914

0.30

0.26

Oglethorpe

0

0

0

0

0

0

n/a

0.00

0.00

Paulding

0

77

0

0

52

129

339

1.70

1.44

Peach

0

2

0

0

0

2

4,981

0.12

0.10

Pickens

0

9

0

0

7

16

817

0.71

0.60

Pierce

0

2

0

0

0

2

3,598

0.16

0.14

Pike

0

16

0

0

0

16

389

1.48

1.26

Polk

0

20

0

0

16

36

460

1.26

1.07

Pulaski

0

0

0

0

0

0

n/a

0.00

0.00

Putnam

0

9

0

0

2

11

1,056

0.55

0.46

Quitman

0

0

0

0

0

0

n/a

0.00

0.00

Rabun

0

5

0

0

2

7

1,705

0.34

0.29

Randolph

0

0

0

0

0

0

n/a

0.00

0.00

Richmond

0

111

0

0

67

178

482

1.20

1.02

Rockdale

1

71

0

0

53

125

234

2.47

2.10

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

0

0

n/a

0.00

0.00

Spalding

0

40

0

0

33

73

348

1.66

1.41

Stephens

0

11

0

0

2

13

936

0.62

0.52

Stewart

0

0

0

0

0

0

n/a

0.00

0.00

Sumter

0

6

0

0

0

6

2,361

0.24

0.21

Talbot

0

0

0

0

0

0

n/a

0.00

0.00

Taliaferro

0

0

0

0

0

0

n/a

0.00

0.00

Tattnall

0

2

0

0

0

2

4,367

0.13

0.11

Taylor

0

0

0

0

0

0

n/a

0.00

0.00

Telfair

0

1

0

0

0

1

5,150

0.11

0.10

Terrell

0

1

0

0

0

1

4,635

0.12

0.11

Thomas

1

0

0

0

0

1

19,344

0.03

0.03

Tift

0

12

0

0

0

12

1,338

0.43

0.37

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

Treutlen

0

0

0

0

0

0

n/a

0.00

0.00

Troup

0

32

0

0

0

32

818

0.71

0.60

Turner

0

0

0

0

0

0

n/a

0.00

0.00

Twiggs

0

1

0

0

0

1

4,424

0.13

0.11

Union

0

5

0

0

0

5

2,479

0.23

0.20

Upson

0

11

0

0

0

11

1,106

0.52

0.44

Walker

0

34

0

0

0

34

814

0.71

0.60

Walton

1

13

0

0

16

30

968

0.60

0.51

Ware

0

11

0

0

1

12

1,358

0.43

0.36

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

7

0

0

0

7

1,579

0.37

0.31

Webster

0

1

0

0

0

1

1,138

0.51

0.43

Wheeler

0

0

0

0

0

0

n/a

0.00

0.00

White

0

6

0

0

4

10

1,123

0.51

0.44

Whitfield

0

27

0

0

0

27

1,261

0.46

0.39

Wilcox

0

0

0

0

0

0

n/a

0.00

0.00

Wilkes

0

0

0

0

0

0

n/a

0.00

0.00

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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