Georgia Foreclosure Activity Drops in November

Statewide filings down 22 percent from October; down 3 percent from November 2008

 

Georgia foreclosure activity fell in November to 9,664 properties with foreclosure filings, down 22 percent from the previous month, and 3 percent below the level reported in November 2008, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

“Although foreclosure activity in Georgia was down in November, the state still posted the nation’s eighth highest foreclosure total for the month,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment is a major contributing factor as the state’s jobless rate remains above the national average.”

 

California held on to its substantial lead in total foreclosure activity, reporting 73,995 properties with foreclosure filings. Florida came in second once again, reporting 52,935 properties with foreclosure filings in November. Illinois maintained its third place ranking, reporting 16,442 properties with foreclosure filings for the month. Michigan had the fourth highest total, documenting 15,988 properties with foreclosure filings. Arizona took over fifth place, reporting 14,349 properties with foreclosure filings.

 

The remaining states in the nation’s top 10 for total foreclosure filings in November were Texas (12,098), Ohio (10,587), Nevada (9,295) and New Jersey (9,227). Activity in the top five states accounted for 57 percent of all foreclosure filings in the nation for November.

 

One in every 410 Georgia housing units received a foreclosure filing in November, the 12th highest state foreclosure rate in the nation.

 

Henry County posts state’s highest foreclosure rate in November

With one in every 181 housing units receiving a foreclosure filing — 2.3 times the national average and 2.3 times the state average — Henry County posted the highest county foreclosure rate in the state for November. Newton County had the second highest rate, with one in every 189 housing units receiving a foreclosure filing — 2.2 times the national average and 2.2 the state average. Barrow County came in third highest, with one in every 191 housing units receiving a foreclosure filing — 2.2 times the national average and 2.2 times the state average.

 

Fulton County led state in total foreclosure filings for November

Fulton County led all counties, totaling 1,508 properties with foreclosure filings for the month. Gwinnett County was second highest, documenting 1,013 properties with foreclosure filings. Reporting 961 properties with foreclosure filings for the month, Dekalb County had the third highest total in the state. Cobb County was fourth highest, reporting 597 properties with foreclosure filings, while Clayton County came in fifth, reporting 449 properties with foreclosure filings for the month.

 

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

Georgia accounted for 3 percent of the 306,627 properties with foreclosure filings reported nationwide in November. Total U.S. activity declined nearly 8 percent from the previous month but was still 18 percent ahead of November 2008. One in every 417 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing entered into the RealtyTrac database during the month — broken out by type of filing by state, county and metropolitan statistical area. Some foreclosure filings entered into the database during the month may have been recorded in previous months. Data is collected from more than 2,200 counties nationwide, and those counties account for more than 90 percent of the U.S. population. 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 received for a property during the month, 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 Top Foreclosure Rates By County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

/Natl. Avg.

/State Avg.

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

n/a

n/a

Georgia

0

0

6,460

0

3,204

9,664

410

1.02

n/a

 

 

 

 

 

 

 

 

 

 

Henry

0

0

257

0

136

393

181

2.30

2.26

Newton

0

0

120

0

76

196

189

2.21

2.17

Barrow

0

0

97

0

37

134

191

2.19

2.15

Walton

0

0

104

0

59

163

195

2.14

2.10

Douglas

0

0

153

0

71

224

217

1.93

1.89

 

 

Georgia Top Foreclosure Totals by County – November 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Oct 09

% Chg Nov 08

 

 

 

 

 

 

 

 

 

 

United States

44,757

69,413

81,843

33,913

76,701

306,627

417

-7.72

18.35

Georgia

0

0

6,460

0

3,204

9,664

410

-22.49

-3.39

 

 

 

 

 

 

 

 

 

 

Fulton

0

0

866

0

642

1,508

286

-11.97

-15.52

Gwinnett

0

0

681

0

332

1,013

280

-30.52

-13.79

Dekalb

0

0

609

0

352

961

319

-22.81

0.95

Cobb

0

0

408

0

189

597

466

-35.39

0.84

Clayton

0

0

273

0

176

449

236

-22.45

-19.82

 

 

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