GEORGIA FORECLOSURE ACTIVITY INCREASES 6 PERCENT IN APRIL

Activity Up 39 Percent From a April 2006; Foreclosure Rate in Top 10

 

IRVINE, Calif. – May 18, 2007 – Georgia reported 7,151 foreclosure filings in April, a 6 percent increase in activity from the previous month, and 39 percent above the level reported for the same month last year, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state posted the sixth highest foreclosure rate in the country for the month — one foreclosure filing for every 433 households.

 

RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure and foreclosure properties, with over 900,000 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.

 

“So far in 2007 Georgia has consistently ranked among the top six states in terms of foreclosure total,” said James J. Saccacio, chief executive officer of RealtyTrac. “At least part of this can be explained by the excessive dependence of local homebuyers on adjustable-rate loans with low introductory rates over the past two years. The interest rates on those loans are now ratcheting up and leaving many homeowners with no way out of foreclosure.”

 

Even with the nation’s sixth highest foreclosure total for the month, Georgia was well behind national leader California, where more than 30,500 foreclosure filings were reported. The state total was half as many as reported in second place Florida, and well below third place Ohio and fourth place Texas. Illinois beat out Georgia for fifth place by more than 1,100 foreclosure filings. The rest of the nation’s top 10 states were Michigan, Colorado, Connecticut and Arizona. Georgia’s foreclosure rate was 1.8 times the national average.

 

Bulk of state total found in six counties

Six Georgia counties accounted for 69 percent of all foreclosure activity in the state for April. Fulton County led the state, reporting 2,101 foreclosure filings for the month. DeKalb County came in second, reporting 944 foreclosure filings. The third highest total was reported by Gwinnett County, with 524 filings. Cobb County tallied the fourth highest total, 511 foreclosure filings, followed by Clayton County, with 452 filings, and Henry County, with 387 filings entering some part of the foreclosure pipeline.

 

Fulton County leads lead state in foreclosure rate for the month

Fulton County posted the highest foreclosure rate in the state for April — one foreclosure filing for every 73 households — 5.9 times the state average and 10.7 times the national average.  Henry County tallied the state’s second highest rate — one foreclosure filing for every 112 households — 3.9 times the state average and seven times the national average. The third highest rate was in Clayton County, one foreclosure filing for every 191 households — 2.3 times the state average and 4.1 times the national average.

 

State makes significant contribution to national total

Total foreclosure filings in Georgia accounted for 5 percent of the 147,708 filings nationwide in April. The national total was down less than 1 percent from the previous month, but still up 62 percent from April 2006. The nation’s foreclosure rate was one foreclosure filing for every 783 U.S. households during the month.

 

The RealtyTrac Monthly U.S. Foreclosure Market Report provides the total number of homes in some stage of foreclosure nationwide, by state and by county. 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 – April 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

47,171

49,794

7,388

21,085

22,270

147,708

783

n/a

n/a

Georgia

1

5,251

0

0

1,899

7,151

433

1.81

n/a

 

 

 

 

 

 

 

 

 

 

Appling

0

2

0

0

0

2

3,927

0.20

0.11

Bacon

0

1

0

0

0

1

4,464

0.18

0.10

Baker

0

0

0

0

0

0

n/a 

0.00

0.00

Baldwin

0

10

0

0

0

10

1,717

0.46

0.25

Banks

0

4

0

0

1

5

1,162

0.67

0.37

Barrow

0

43

0

0

0

43

402

1.95

1.08

Bartow

0

3

0

0

15

18

1,597

0.49

0.27

Ben Hill

0

11

0

0

0

11

693

1.13

0.62

Berrien

0

5

0

0

0

5

1,420

0.55

0.30

Bibb

0

117

0

0

16

133

505

1.55

0.86

Bleckley

0

1

0

0

0

1

4,866

0.16

0.09

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

3

0

0

0

3

2,892

0.27

0.15

Bulloch

0

4

0

0

0

4

5,686

0.14

0.08

Burke

0

9

0

0

0

9

982

0.80

0.44

Butts

0

5

0

0

3

8

923

0.85

0.47

Calhoun

0

1

0

0

0

1

2,305

0.34

0.19

Camden

0

11

0

0

0

11

1,542

0.51

0.28

Carroll

0

90

0

0

27

117

291

2.69

1.49

Catoosa

0

15

0

0

4

19

1,147

0.68

0.38

Charlton

0

1

0

0

0

1

3,859

0.20

0.11

Chatham

0

94

0

0

6

100

997

0.79

0.43

Chattooga

0

10

0

0

0

10

1,068

0.73

0.41

Cherokee

0

114

0

0

16

130

400

1.96

1.08

Clarke

0

35

0

0

0

35

1,204

0.65

0.36

Clayton

0

335

0

0

117

452

191

4.09

2.26

Cobb

0

395

0

0

116

511

465

1.68

0.93

Coffee

0

1

0

0

0

1

15,610

0.05

0.03

Colquitt

0

12

0

0

0

12

1,463

0.54

0.30

Columbia

0

35

0

0

9

44

757

1.03

0.57

Cook

0

0

0

0

0

0

n/a 

0.00

0.00

Coweta

0

65

0

0

19

84

395

1.98

1.10

Crawford

0

4

0

0

0

4

1,218

0.64

0.36

Crisp

0

2

0

0

0

2

4,780

0.16

0.09

Dade

0

4

0

0

0

4

1,556

0.50

0.28

Dawson

0

7

0

0

2

9

796

0.98

0.54

Decatur

0

7

0

0

0

7

1,710

0.46

0.25

DeKalb

1

774

0

0

169

944

277

2.83

1.56

Dodge

0

0

0

0

0

0

n/a 

0.00

0.00

Dooly

0

1

0

0

0

1

4,499

0.17

0.10

Dougherty

0

2

0

0

2

4

9,914

0.08

0.04

Douglas

0

123

0

0

53

176

198

3.96

2.19

Effingham

0

1

0

0

6

7

2,024

0.39

0.21

Elbert

0

4

0

0

0

4

2,284

0.34

0.19

Emanuel

0

2

0

0

1

3

3,140

0.25

0.14

Evans

0

3

0

0

0

3

1,460

0.54

0.30

Fannin

0

1

0

0

0

1

11,134

0.07

0.04

Fayette

0

49

0

0

3

52

629

1.24

0.69

Floyd

0

36

0

0

0

36

1,017

0.77

0.43

Forsyth

0

36

0

0

18

54

676

1.16

0.64

Franklin

0

7

0

0

0

7

1,329

0.59

0.33

Fulton

0

1,209

0

0

892

2,101

73

10.67

5.90

Gilmer

0

10

0

0

0

10

1,192

0.66

0.36

Glascock

0

0

0

0

0

0

n/a 

0.00

0.00

Glynn

0

18

0

0

0

18

1,813

0.43

0.24

Gordon

0

20

0

0

7

27

635

1.23

0.68

Grady

0

4

0

0

0

4

2,498

0.31

0.17

Greene

0

2

0

0

0

2

3,327

0.24

0.13

Gwinnett

0

471

0

0

53

524

400

1.96

1.08

Habersham

0

12

0

0

3

15

976

0.80

0.44

Hall

0

68

0

0

32

100

510

1.53

0.85

Hancock

0

0

0

0

0

0

n/a 

0.00

0.00

Haralson

0

3

0

0

3

6

1,787

0.44

0.24

Harris

0

0

0

0

0

0

n/a 

0.00

0.00

Hart

0

6

0

0

0

6

1,852

0.42

0.23

Heard

0

0

0

0

0

0

n/a 

0.00

0.00

Henry

0

249

0

0

138

387

112

7.02

3.88

Houston

0

46

0

0

0

46

968

0.81

0.45

Irwin

0

1

0

0

0

1

4,149

0.19

0.10

Jackson

0

37

0

0

8

45

361

2.17

1.20

Jasper

0

8

0

0

1

9

534

1.47

0.81

Jefferson

0

1

0

0

0

1

7,221

0.11

0.06

Jones

0

1

0

0

0

1

9,272

0.08

0.05

Lamar

0

0

0

0

0

0

n/a 

0.00

0.00

Lanier

0

0

0

0

0

0

n/a 

0.00

0.00

Laurens

0

1

0

0

0

1

19,687

0.04

0.02

Lee

0

10

0

0

0

10

881

0.89

0.49

Liberty

0

12

0

0

0

12

1,831

0.43

0.24

Lincoln

0

0

0

0

0

0

n/a 

0.00

0.00

Lowndes

0

15

0

0

0

15

2,437

0.32

0.18

Lumpkin

0

5

0

0

1

6

1,377

0.57

0.31

Macon

0

0

0

0

0

0

n/a 

0.00

0.00

Madison

0

5

0

0

0

5

2,104

0.37

0.21

Marion

0

0

0

0

0

0

n/a 

0.00

0.00

Mcduffie

0

4

0

0

5

9

991

0.79

0.44

McIntosh

0

0

0

0

0

0

n/a 

0.00

0.00

Meriwether

0

0

0

0

0

0

n/a 

0.00

0.00

Miller

0

1

0

0

0

1

2,770

0.28

0.16

Mitchell

0

0

0

0

0

0

n/a 

0.00

0.00

Monroe

0

0

0

0

0

0

n/a 

0.00

0.00

Morgan

0

1

0

0

0

1

6,128

0.13

0.07

Muscogee

0

46

0

0

19

65

1,172

0.67

0.37

Newton

0

5

0

0

13

18

1,280

0.61

0.34

Oconee

0

2

0

0

0

2

4,764

0.16

0.09

Oglethorpe

0

0

0

0

0

0

n/a 

0.00

0.00

Paulding

0

65

0

0

23

88

333

2.35

1.30

Peach

0

1

0

0

0

1

9,093

0.09

0.05

Pickens

0

13

0

0

1

14

763

1.03

0.57

Pierce

0

0

0

0

0

0

n/a 

0.00

0.00

Pike

0

4

0

0

0

4

1,267

0.62

0.34

Polk

0

22

0

0

15

37

407

1.92

1.06

Pulaski

0

0

0

0

0

0

n/a 

0.00

0.00

Putnam

0

0

0

0

0

0

n/a 

0.00

0.00

Rabun

0

1

0

0

0

1

10,210

0.08

0.04

Richmond

0

113

0

0

50

163

505

1.55

0.86

Rockdale

0

90

0

0

9

99

253

3.09

1.71

Schley

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

51

0

0

11

62

371

2.11

1.17

Stephens

0

5

0

0

1

6

1,942

0.40

0.22

Sumter

0

5

0

0

1

6

2,283

0.34

0.19

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

1

0

0

0

1

8,578

0.09

0.05

Telfair

0

0

0

0

0

0

n/a 

0.00

0.00

Terrell

0

0

0

0

0

0

n/a 

0.00

0.00

Thomas

0

1

0

0

0

1

18,285

0.04

0.02

Tift

0

3

0

0

0

3

5,137

0.15

0.08

Toombs

0

0

0

0

0

0

n/a 

0.00

0.00

Towns

0

0

0

0

1

1

6,282

0.12

0.07

Troup

0

4

0

0

0

4

5,956

0.13

0.07

Turner

0

0

0

0

0

0

n/a 

0.00

0.00

Twiggs

0

1

0

0

0

1

4,291

0.18

0.10

Union

0

0

0

0

0

0

n/a 

0.00

0.00

Upson

0

0

0

0

0

0

n/a 

0.00

0.00

Walker

0

38

0

0

1

39

656

1.19

0.66

Walton

0

21

0

0

4

25

900

0.87

0.48

Ware

0

8

0

0

0

8

1,979

0.40

0.22

Wayne

0

2

0

0

0

2

5,414

0.14

0.08

White

0

9

0

0

4

13

727

1.08

0.60

Whitfield

0

19

0

0

0

19

2,091

0.37

0.21

Wilcox

0

1

0

0

0

1

3,320

0.24

0.13

Wilkes

0

4

0

0

0

4

1,256

0.62

0.34

Wilkinson

0

1

0

0

0

1

4,449

0.18

0.10

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 construction properties, 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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