GEORGIA FORECLOSURE ACTIVITY DOWN 28 PERCENT IN FEBRUARY

Activity Up 5 Percent From February 2007; Foreclosure Rate in Top 10

 

IRVINE, Calif. – March 26, 2008 – Georgia reported 7,631 properties with foreclosure filings in February, a 28 percent decrease in foreclosure activity from the previous month, but still 5 percent above the level reported in February 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 494 Georgia households received a foreclosure filing during February, the eighth 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 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.

 

“Despite a slight decrease in foreclosure activity in February, Georgia remains in the top 10 for both properties with foreclosure filings and foreclosure rate,” said James J. Saccacio, chief executive officer of RealtyTrac. “The pain is not over for homeowners who took out adjustable rate mortgages, however, lenders are starting to negotiate with troubled borrowers rather than take the property back.

 

Foreclosure activity in the Peach State was far behind national leader California, which reported 53,629 properties with foreclosure filings in February. Second place Florida reported 32,447 properties with foreclosure filings, while third place Texas had 12,261 properties with foreclosure filings. Michigan documented 10,957 properties with foreclosure filings for the fourth highest total, followed by Ohio reporting 10,386 properties with foreclosure filings, the nation’s fifth highest total. The remaining states in the nation’s top 10 for total foreclosure filings in February were Arizona, Illinois, Colorado and Nevada.

 

Fulton County led state in foreclosure activity for February

Fulton County led all counties in foreclosure activity in February, reporting 1,195 properties with foreclosure filings. Second place DeKalb County documented 849 properties with foreclosure filings, while third place Cobb County reported 837 properties with foreclosure filings for the month. Gwinnett County posted the fourth highest foreclosure total, reporting 683 properties with foreclosure filings, followed by fifth ranked Clayton County, reporting 552 properties with foreclosure filings. The five top counties accounted for 54 percent of all foreclosure filings in the state for the month.

 

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

Henry County posted the highest foreclosure rate in Georgia for February, with a rate of one in every 180 households receiving a foreclosure filing for the month — 2.7 times the state average and 3.1 times the national average. Clayton County registered the second highest rate, with one in every 185 households receiving a foreclosure filing — 2.7 times the state average and three times the national average. The third highest rate was reported in Douglas County, where one in every 214 households received a foreclosure filing — 2.3 times the state average and 2.6 times the national average.

 

State a significant contributor to nation’s total in February

Total foreclosure filings in Georgia accounted for 3 percent of the 223,651 properties with foreclosure filings reported nationwide in February. The national total represents a 4 percent decrease from the previous month, but is still 60 percent ahead of the total reported for February 2007. One in every 557 U.S. households received 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 by County – February 2008

 

County

NOD

NTS

NFS

LIS

REO

Total

Households per Filing

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

50,813

53,319

20,132

52,879

46,508

223,651

557

n/a

n/a

Georgia

41

6,034

0

0

1,556

7,631

494

1.13

n/a

 

 

 

 

 

 

 

 

 

 

Appling

0

2

0

0

0

2

4,001

0.14

0.12

Atkinson

0

0

0

0

0

0

 n/a

0.00

0.00

Bacon

0

1

0

0

0

1

4,530

0.12

0.11

Baker

0

0

0

0

0

0

 n/a

0.00

0.00

Baldwin

0

17

0

0

0

17

1,078

0.52

0.46

Banks

0

2

0

0

6

8

810

0.69

0.61

Barrow

0

73

0

0

28

101

229

2.43

2.16

Bartow

1

3

0

0

20

24

1,461

0.38

0.34

Ben Hill

0

9

0

0

2

11

715

0.78

0.69

Berrien

0

0

0

0

0

0

 n/a

0.00

0.00

Bibb

0

133

0

0

24

157

450

1.24

1.10

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

12

0

0

1

13

826

0.67

0.60

Bulloch

0

9

0

0

0

9

2,842

0.20

0.17

Burke

0

7

0

0

0

7

1,311

0.42

0.38

Butts

0

5

0

0

1

6

1,470

0.38

0.34

Calhoun

0

0

0

0

0

0

 n/a

0.00

0.00

Camden

0

25

0

0

0

25

784

0.71

0.63

Candler

0

0

0

0

0

0

 n/a

0.00

0.00

Carroll

0

96

0

0

51

147

292

1.90

1.69

Catoosa

0

34

0

0

7

41

604

0.92

0.82

Charlton

0

1

0

0

2

3

1,331

0.42

0.37

Chatham

2

120

0

0

9

131

824

0.68

0.60

Chattahoochee

0

1

0

0

0

1

3,336

0.17

0.15

Chattooga

0

13

0

0

0

13

837

0.67

0.59

Cherokee

2

125

0

0

23

150

476

1.17

1.04

Clarke

0

33

0

0

0

33

1,461

0.38

0.34

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Clayton

2

362

0

0

188

552

185

3.01

2.68

Clinch

0

2

0

0

0

2

1,448

0.38

0.34

Cobb

3

722

0

0

112

837

320

1.74

1.54

Coffee

0

0

0

0

0

0

 n/a

0.00

0.00

Colquitt

0

10

0

0

0

10

1,800

0.31

0.27

Columbia

0

31

0

0

13

44

907

0.61

0.54

Cook

0

0

0

0

0

0

 n/a

0.00

0.00

Coweta

0

81

0

0

33

114

371

1.50

1.33

Crawford

0

5

0

0

0

5

1,109

0.50

0.45

Crisp

0

5

0

0

0

5

1,993

0.28

0.25

Dade

0

3

0

0

0

3

2,132

0.26

0.23

Dawson

0

10

0

0

2

12

757

0.74

0.65

Decatur

0

9

0

0

0

9

1,473

0.38

0.34

Dekalb

2

687

0

0

160

849

348

1.60

1.42

Dodge

0

0

0

0

0

0

 n/a

0.00

0.00

Dooly

0

1

0

0

0

1

4,560

0.12

0.11

Dougherty

0

34

0

0

19

53

779

0.72

0.63

Douglas

0

158

0

0

51

209

214

2.60

2.31

Early

0

3

0

0

0

3

1,817

0.31

0.27

Echols

0

0

0

0

0

0

 n/a

0.00

0.00

Effingham

3

2

0

0

12

17

1,006

0.55

0.49

Elbert

0

12

0

0

0

12

774

0.72

0.64

Emanuel

0

2

0

0

0

2

4,800

0.12

0.10

Evans

0

1

0

0

0

1

4,538

0.12

0.11

Fannin

0

4

0

0

0

4

3,962

0.14

0.12

Fayette

0

72

0

0

12

84

446

1.25

1.11

Floyd

1

53

0

0

0

54

723

0.77

0.68

Forsyth

0

72

0

0

17

89

579

0.96

0.85

Franklin

0

12

0

0

4

16

596

0.93

0.83

Fulton

8

1,030

0

0

157

1,195

339

1.64

1.46

Gilmer

0

16

0

0

5

21

718

0.78

0.69

Glascock

0

0

0

0

0

0

 n/a

0.00

0.00

Glynn

0

2

0

0

0

2

18,163

0.03

0.03

Gordon

0

20

0

0

6

26

766

0.73

0.65

Grady

0

11

0

0

0

11

940

0.59

0.53

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Gwinnett

9

533

0

0

141

683

389

1.43

1.27

Habersham

0

16

0

0

13

29

578

0.96

0.86

Hall

0

104

0

0

57

161

367

1.52

1.35

Hancock

0

0

0

0

0

0

 n/a

0.00

0.00

Haralson

1

0

0

0

4

5

2,325

0.24

0.21

Harris

0

9

0

0

0

9

1,349

0.41

0.37

Hart

0

8

0

0

0

8

1,454

0.38

0.34

Heard

0

1

0

0

2

3

1,605

0.35

0.31

Henry

4

241

0

0

113

358

180

3.09

2.74

Houston

0

81

0

0

1

82

647

0.86

0.76

Irwin

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

0

46

0

0

10

56

376

1.48

1.31

Jasper

0

7

0

0

2

9

640

0.87

0.77

Jeff Davis

0

2

0

0

0

2

2,836

0.20

0.17

Jefferson

0

2

0

0

0

2

3,685

0.15

0.13

Jenkins

0

2

0

0

0

2

1,966

0.28

0.25

Johnson

0

0

0

0

0

0

 n/a

0.00

0.00

Jones

0

9

0

0

0

9

1,185

0.47

0.42

Lamar

0

9

0

0

0

9

768

0.72

0.64

Lanier

0

0

0

0

0

0

 n/a

0.00

0.00

Laurens

0

1

0

0

0

1

20,177

0.03

0.02

Lee

0

7

0

0

0

7

1,543

0.36

0.32

Liberty

0

22

0

0

0

22

1,074

0.52

0.46

Lincoln

0

2

0

0

0

2

2,360

0.24

0.21

Long

0

0

0

0

0

0

 n/a

0.00

0.00

Lowndes

0

12

0

0

0

12

3,415

0.16

0.14

Lumpkin

0

12

0

0

2

14

726

0.77

0.68

Macon

0

2

0

0

0

2

2,806

0.20

0.18

Madison

0

14

0

0

0

14

809

0.69

0.61

Marion

0

0

0

0

0

0

 n/a

0.00

0.00

Mcduffie

0

9

0

0

7

16

578

0.96

0.86

McIntosh

0

0

0

0

0

0

 n/a

0.00

0.00

Meriwether

0

5

0

0

0

5

2,031

0.27

0.24

Miller

0

0

0

0

0

0

 n/a

0.00

0.00

Mitchell

0

0

0

0

0

0

 n/a

0.00

0.00

Monroe

0

1

0

0

0

1

9,306

0.06

0.05

Montgomery

0

0

0

0

0

0

 n/a

0.00

0.00

Morgan

0

1

0

0

1

2

3,544

0.16

0.14

Murray

0

0

0

0

0

0

 n/a

0.00

0.00

Muscogee

0

95

0

0

39

134

605

0.92

0.82

Newton

0

8

0

0

54

62

538

1.03

0.92

Oconee

0

9

0

0

1

10

1,148

0.48

0.43

Oglethorpe

0

0

0

0

0

0

 n/a

0.00

0.00

Paulding

0

77

0

0

26

103

425

1.31

1.16

Peach

0

1

0

0

2

3

3,321

0.17

0.15

Pickens

0

9

0

0

3

12

1,089

0.51

0.45

Pierce

0

3

0

0

0

3

2,398

0.23

0.21

Pike

0

9

0

0

0

9

692

0.80

0.71

Polk

0

28

0

0

10

38

435

1.28

1.13

Pulaski

0

1

0

0

0

1

4,189

0.13

0.12

Putnam

0

1

0

0

0

1

11,611

0.05

0.04

Quitman

0

0

0

0

0

0

 n/a

0.00

0.00

Rabun

0

3

0

0

0

3

3,979

0.14

0.12

Randolph

0

0

0

0

0

0

 n/a

0.00

0.00

Richmond

1

138

0

0

46

185

464

1.20

1.07

Rockdale

0

96

0

0

24

120

244

2.29

2.03

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

1

36

0

0

12

49

518

1.07

0.95

Stephens

0

3

0

0

3

6

2,028

0.27

0.24

Stewart

0

0

0

0

0

0

 n/a

0.00

0.00

Sumter

0

10

0

0

0

10

1,417

0.39

0.35

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

0

0

0

0

0

 n/a

0.00

0.00

Taylor

0

1

0

0

0

1

4,117

0.14

0.12

Telfair

0

2

0

0

0

2

2,575

0.22

0.19

Terrell

0

0

0

0

0

0

 n/a

0.00

0.00

Thomas

1

0

0

0

0

1

19,344

0.03

0.03

Tift

0

13

0

0

0

13

1,235

0.45

0.40

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

38

0

0

0

38

689

0.81

0.72

Turner

0

0

0

0

0

0

 n/a

0.00

0.00

Twiggs

0

0

0

0

0

0

 n/a

0.00

0.00

Union

0

6

0

0

0

6

2,066

0.27

0.24

Upson

0

16

0

0

0

16

760

0.73

0.65

Walker

0

41

0

0

1

42

659

0.85

0.75

Walton

0

24

0

0

14

38

764

0.73

0.65

Ware

0

10

0

0

0

10

1,629

0.34

0.30

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

1,842

0.30

0.27

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

12

0

0

2

14

802

0.69

0.62

Whitfield

0

27

0

0

1

28

1,216

0.46

0.41

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

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved