GEORGIA FORECLOSURE ACTIVITY UP 1 PERCENT IN NOVEMBER

Filings Statewide Increase 12 Percent From November 2007; Rate in Top 10

 

IRVINE, Calif. – Dec. 29, 2008 – Total foreclosure filings in Georgia bounced higher for the third month in a row, increasing 1 percent in November to 10,003 properties with foreclosure filings, 12 percent ahead of the level reported in November 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 387 Georgia housing units received a foreclosure filing during the month, the sixth highest state foreclosure rate in the nation.

 

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.

 

“Although foreclosure activity in Georgia has been steadily increasing since August, the numbers are basically back to the level where they began the year, and only slightly ahead of last year at this time,” said James J. Saccacio, chief executive officer of RealtyTrac.“Home sales continue to decline throughout the state even with plummeting prices. Plus, rising unemployment continues to be a major issue with more than 61,000 jobs last during the past year. The state’s unemployment rate jumped 2.5 percent during this period and is now above the national average.”

 

Foreclosure activity in the Peach State climbed from the ninth to seventh highest in the nation, but far below the level set by national leader California which reported 60,491 properties with foreclosure filings in November. Georgia is also well behind second place Florida, which reported 49,190 properties with foreclosure filings for the month. Michigan climbed from seventh to third highest, reporting 14,594 properties with foreclosure filings for the month. Nevada remained at fourth highest, documenting 13,962 properties with foreclosure filings. Arizona fell from third to fifth highest, reporting 13,136 properties with foreclosure filings. The remaining states in the nation’s top 10 for total properties with foreclosure filings in November were Ohio, Illinois, Texas and Virginia.

 

Five counties lead state in foreclosure activity for November

The state’s top five counties for total number of properties with foreclosure filings accounted for 51 percent of the activity in the state during November. Leading the way was Fulton County, reporting 1,785 properties with foreclosure filings for the month. Second highest total was in Gwinnett County, reporting 1,175 properties with foreclosure filings. Dekalb County was close behind in third place, reporting 952 properties with foreclosure filings. Henry County came in fourth place, documenting 612 properties with foreclosure filings, followed by Cobb County with 592 properties with foreclosure filings.

 

Newton County posts top foreclosure rate for November

With one in every 93 housing units receiving a foreclosure filing — 4.2 times the state average and 5.3 times the national average — Newton County reported the highest rate in the state for the month. Second highest rate was reported in Barrow County, where one in every 111 housing units received a foreclosure filing — 3.5 times the state average and 4.4 times the national average. Third highest rate was documented in Henry County, where one in every 112 housing units received a foreclosure filing during the month — 3.5 times the state average and 4.4 times the national average.

 

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

Georgia accounted for 4 percent of the 259,085 properties with foreclosure filings reported nationwide in November. The national total represented a decrease of more than 7 percent from the previous month but was still 28 percent ahead of the total reported for November 2007. One in every 488 U.S. housing units received a foreclosure filing during the month.

 

Report methodology

The RealtyTrac Monthly U.S. Foreclosure Market Report provides a count of the total number of properties with at least one foreclosure filing reported during the month — broken out by type of filing at the county, state and national level. 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 filed against a property during the month — which is extremely rare — 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 Foreclosure Market Data by County – November 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

39,416

53,827

64,136

23,527

78,179

259,085

488

n/a

n/a

Georgia

26

0

5,533

0

4,444

10,003

387

1.26

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

10

11

1,703

0.29

0.23

Banks

0

0

0

0

3

3

2,211

0.22

0.18

Barrow

1

0

90

0

130

221

111

4.40

3.49

Bartow

0

0

13

0

41

54

668

0.73

0.58

Ben Hill

0

0

0

0

4

4

1,982

0.25

0.20

Berrien

0

0

1

0

1

2

3,740

0.13

0.10

Bibb

0

0

98

0

88

186

382

1.28

1.01

Bleckley

0

0

0

0

0

0

 n/a

0.00

0.00

Brantley

0

0

1

0

0

1

6,638

0.07

0.06

Brooks

0

0

0

0

3

3

2,455

0.20

0.16

Bryan

0

0

8

0

7

15

760

0.64

0.51

Bulloch

1

0

0

0

6

7

3,722

0.13

0.10

Burke

0

0

4

0

0

4

2,306

0.21

0.17

Butts

0

0

38

0

27

65

139

3.50

2.78

Calhoun

0

0

0

0

0

0

 n/a

0.00

0.00

Camden

0

0

27

0

14

41

495

0.99

0.78

Candler

0

0

0

0

1

1

3,962

0.12

0.10

Carroll

0

0

93

0

55

148

299

1.63

1.29

Catoosa

0

0

20

0

8

28

912

0.53

0.42

Charlton

0

0

0

0

1

1

4,032

0.12

0.10

Chatham

0

0

150

0

25

175

630

0.77

0.61

Chattahoochee

0

0

0

0

0

0

 n/a

0.00

0.00

Chattooga

0

0

2

0

6

8

1,365

0.36

0.28

Cherokee

1

0

154

0

120

275

274

1.78

1.41

Clarke

0

0

30

0

17

47

1,045

0.47

0.37

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Clayton

1

0

325

0

234

560

186

2.63

2.09

Clinch

0

0

1

0

0

1

2,902

0.17

0.13

Cobb

2

0

450

0

140

592

463

1.05

0.84

Coffee

0

0

0

0

8

8

2,075

0.23

0.19

Colquitt

0

0

1

0

2

3

6,067

0.08

0.06

Columbia

0

0

50

0

12

62

671

0.73

0.58

Cook

0

0

0

0

5

5

1,366

0.36

0.28

Coweta

1

0

96

0

62

159

278

1.75

1.39

Crawford

0

0

5

0

3

8

706

0.69

0.55

Crisp

0

0

4

0

3

7

1,438

0.34

0.27

Dade

0

0

4

0

8

12

538

0.91

0.72

Dawson

0

0

20

0

6

26

365

1.34

1.06

Decatur

0

0

5

0

1

6

2,257

0.22

0.17

Dekalb

2

0

616

0

334

952

317

1.54

1.22

Dodge

0

0

3

0

1

4

2,110

0.23

0.18

Dooly

0

0

0

0

1

1

4,568

0.11

0.08

Dougherty

0

0

0

0

7

7

5,918

0.08

0.07

Douglas

0

0

122

0

168

290

161

3.03

2.41

Early

0

0

0

0

0

0

 n/a

0.00

0.00

Echols

0

0

0

0

0

0

 n/a

0.00

0.00

Effingham

0

0

24

0

4

28

643

0.76

0.60

Elbert

0

0

7

0

0

7

1,341

0.36

0.29

Emanuel

0

0

0

0

2

2

4,814

0.10

0.08

Evans

0

0

0

0

0

0

 n/a

0.00

0.00

Fannin

0

0

15

0

1

16

1,038

0.47

0.37

Fayette

2

0

37

0

34

73

525

0.93

0.74

Floyd

0

0

18

0

14

32

1,236

0.39

0.31

Forsyth

1

0

53

0

29

83

669

0.73

0.58

Franklin

0

0

9

0

1

10

955

0.51

0.41

Fulton

2

0

967

0

816

1,785

236

2.07

1.64

Gilmer

0

0

3

0

7

10

1,574

0.31

0.25

Glascock

0

0

1

0

0

1

1,218

0.40

0.32

Glynn

0

0

24

0

12

36

1,036

0.47

0.37

Gordon

0

0

24

0

13

37

552

0.88

0.70

Grady

0

0

1

0

1

2

5,207

0.09

0.07

Greene

0

0

1

0

1

2

3,953

0.12

0.10

Gwinnett

3

0

673

0

499

1,175

234

2.08

1.65

Habersham

0

0

11

0

11

22

779

0.63

0.50

Hall

2

0

112

0

119

233

262

1.86

1.48

Hancock

0

0

0

0

0

0

 n/a

0.00

0.00

Haralson

0

0

1

0

11

12

989

0.49

0.39

Harris

0

0

2

0

2

4

3,140

0.16

0.12

Hart

0

0

2

0

0

2

5,923

0.08

0.07

Heard

0

0

1

0

0

1

4,844

0.10

0.08

Henry

3

0

280

0

329

612

112

4.37

3.47

Houston

0

0

54

0

26

80

683

0.71

0.57

Irwin

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

1

0

15

0

28

44

508

0.96

0.76

Jasper

0

0

3

0

5

8

748

0.65

0.52

Jeff Davis

0

0

0

0

0

0

 n/a

0.00

0.00

Jefferson

0

0

0

0

1

1

7,380

0.07

0.05

Jenkins

0

0

3

0

0

3

1,314

0.37

0.29

Johnson

0

0

0

0

0

0

 n/a

0.00

0.00

Jones

0

0

1

0

0

1

10,873

0.04

0.04

Lamar

0

0

6

0

0

6

1,183

0.41

0.33

Lanier

0

0

0

0

0

0

 n/a

0.00

0.00

Laurens

0

0

1

0

1

2

10,088

0.05

0.04

Lee

0

0

1

0

0

1

11,190

0.04

0.03

Liberty

0

0

3

0

4

7

3,415

0.14

0.11

Lincoln

0

0

1

0

1

2

2,377

0.21

0.16

Long

0

0

1

0

1

2

2,169

0.22

0.18

Lowndes

1

0

24

0

5

30

1,398

0.35

0.28

Lumpkin

0

0

11

0

4

15

710

0.69

0.55

Macon

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

0

0

2

0

5

7

1,645

0.30

0.24

Marion

0

0

1

0

2

3

1,068

0.46

0.36

Mcduffie

0

0

0

0

0

0

 n/a

0.00

0.00

Mcintosh

0

0

0

0

2

2

3,252

0.15

0.12

Meriwether

0

0

3

0

5

8

1,284

0.38

0.30

Miller

0

0

1

0

1

2

1,406

0.35

0.28

Mitchell

0

0

0

0

1

1

9,262

0.05

0.04

Monroe

0

0

11

0

2

13

734

0.66

0.53

Montgomery

0

0

0

0

2

2

1,888

0.26

0.21

Morgan

0

0

0

0

2

2

3,674

0.13

0.11

Murray

0

0

1

0

7

8

1,970

0.25

0.20

Muscogee

0

0

56

0

25

81

1,014

0.48

0.38

Newton

0

0

38

0

344

382

93

5.26

4.18

Oconee

0

0

2

0

0

2

5,994

0.08

0.06

Oglethorpe

0

0

0

0

0

0

 n/a

0.00

0.00

Paulding

0

0

25

0

97

122

386

1.26

1.00

Peach

0

0

9

0

4

13

793

0.62

0.49

Pickens

1

0

0

0

10

11

1,224

0.40

0.32

Pierce

0

0

2

0

5

7

1,040

0.47

0.37

Pike

0

0

5

0

0

5

1,299

0.38

0.30

Polk

1

0

24

0

15

40

419

1.16

0.92

Pulaski

0

0

0

0

2

2

2,108

0.23

0.18

Putnam

0

0

1

0

2

3

3,970

0.12

0.10

Quitman

0

0

0

0

0

0

 n/a

0.00

0.00

Rabun

0

0

5

0

1

6

2,059

0.24

0.19

Randolph

0

0

0

0

0

0

 n/a

0.00

0.00

Richmond

0

0

127

0

40

167

517

0.94

0.75

Rockdale

0

0

116

0

81

197

153

3.18

2.53

Schley

0

0

0

0

0

0

 n/a

0.00

0.00

Screven

0

0

0

0

1

1

7,103

0.07

0.05

Seminole

0

0

0

0

0

0

 n/a

0.00

0.00

Spalding

0

0

44

0

57

101

255

1.91

1.52

Stephens

0

0

1

0

1

2

6,124

0.08

0.06

Stewart

0

0

0

0

0

0

 n/a

0.00

0.00

Sumter

0

0

7

0

1

8

1,774

0.27

0.22

Talbot

0

0

1

0

1

2

1,534

0.32

0.25

Taliaferro

0

0

0

0

0

0

 n/a

0.00

0.00

Tattnall

0

0

0

0

2

2

4,383

0.11

0.09

Taylor

0

0

0

0

1

1

4,172

0.12

0.09

Telfair

0

0

0

0

1

1

5,144

0.09

0.08

Terrell

0

0

0

0

0

0

 n/a

0.00

0.00

Thomas

0

0

14

0

11

25

787

0.62

0.49

Tift

0

0

9

0

1

10

1,616

0.30

0.24

Toombs

0

0

0

0

3

3

3,932

0.12

0.10

Towns

0

0

0

0

2

2

3,968

0.12

0.10

Treutlen

0

0

0

0

0

0

 n/a

0.00

0.00

Troup

0

0

9

0

10

19

1,398

0.35

0.28

Turner

0

0

0

0

0

0

 n/a

0.00

0.00

Twiggs

0

0

1

0

4

5

886

0.55

0.44

Union

0

0

1

0

2

3

4,308

0.11

0.09

Upson

0

0

0

0

4

4

3,063

0.16

0.13

Walker

0

0

39

0

29

68

413

1.18

0.94

Walton

0

0

126

0

89

215

142

3.43

2.72

Ware

0

0

1

0

2

3

5,457

0.09

0.07

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

0

8

0

1

9

1,227

0.40

0.32

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

15

0

2

17

682

0.71

0.57

Whitfield

0

0

4

0

17

21

1,651

0.30

0.23

Wilcox

0

0

0

0

0

0

 n/a

0.00

0.00

Wilkes

0

0

2

0

2

4

1,291

0.38

0.30

Wilkinson

0

0

0

0

1

1

4,546

0.11

0.09

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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