GEORGIA FORECLOSURE ACTIVITY UP 16 PERCENT IN JULY

Activity Up 19 Percent From July 2007; Foreclosure Rate in Top 10

 

IRVINE, Calif. – Aug. 29, 2008 – Georgia reported 10,061 properties with foreclosure filings in July, a 16 percent increase from the previous month, and a 19 percent increase from July 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report. One in every 385 Georgia households received a foreclosure filing during July, the sixth highest foreclosure rate among the 50 states.

 

RealtyTrac publishes the largest and most comprehensive national database of foreclosure and bank-owned properties, with over 1.5 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.

 

Georgia’s jobless rate climbed in July to 6.2 percent, the state’s highest unemployment level in more than 15 years,” said James J. Saccacio, chief executive officer of RealtyTrac. “Right now the weakening job market in Georgia is putting added pressure on homeowners already stretched with rising gasoline and food prices. These factors are fueling the rise in foreclosure activity we’re seeing.

 

Foreclosure activity in the Peach State was far behind national leader California, which reported 72,285 properties with foreclosure filings in July. Second place Florida reported 45,884 properties with foreclosure filings, while third place Ohio had 13,457 properties with foreclosure filings. Arizona documented 13,350 properties with foreclosure filings for the fourth highest total, followed by Michigan reporting 11,591 properties with foreclosure filings, the nation’s fifth highest total. The remaining states in the nation’s top 10 for total foreclosure filings in July were Texas, Nevada, Illinois and New York.

 

Five counties account for bulk of state foreclosure activity for July

Foreclosure activity in five Georgia counties accounted for 58 percent of all foreclosure filings in the state in July. Fulton County led all counties in foreclosure activity, reporting 2,184 properties with foreclosure filings. Second place DeKalb County documented 1,319 properties with foreclosure filings, while third place Gwinnett County reported 930 properties with foreclosure filings for the month. Cobb County posted the fourth highest foreclosure total, reporting 797 properties with foreclosure filings, followed by fifth ranked Clayton County, reporting 575 properties with foreclosure filings.

 

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

With one in every 1,602 households receiving a foreclosure filing for the month — 2.4 times the state average and 2.9 times the national average — Henry County posted the highest foreclosure rate in Georgia for July. Clayton County registered the second highest foreclosure rate, with one in every 181 households receiving a foreclosure filing — 2.1 times the state average and nearly 2.6 times the national average. Third highest rate was posted in Fulton County, where one in every 193 households received a foreclosure filing — twice the state average and 2.4 times the national average.

 

State a significant contributor to nation’s total in July

Georgia accounted for 4 percent of the 272,171 properties with foreclosure filings reported nationwide in July. The national total represents an increase of almost 8 percent from the previous month and is 55 percent ahead of the total reported for July 2007. One in every 464 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 Data by County – July 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

United States

55,601

55,042

57,145

27,088

77,295

272,171

464

n/a

n/a

Georgia

76

0

6,487

0

3,498

10,061

385

1.21

n/a

 

 

 

 

 

 

 

 

 

Appling

0

0

4

0

0

4

1,998

0.23

0.19

Atkinson

0

0

0

0

0

0

 n/a

0.00

0.00

Bacon

0

0

2

0

0

2

2,261

0.21

0.17

Baker

0

0

0

0

0

0

 n/a

0.00

0.00

Baldwin

0

0

2

0

1

3

6,246

0.07

0.06

Banks

0

0

8

0

1

9

737

0.63

0.52

Barrow

2

0

46

0

29

77

318

1.46

1.21

Bartow

0

0

72

0

20

92

392

1.18

0.98

Ben Hill

0

0

12

0

1

13

610

0.76

0.63

Berrien

0

0

2

0

0

2

3,740

0.12

0.10

Bibb

0

0

80

0

182

262

271

1.71

1.42

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

0

8

0

0

8

1,425

0.33

0.27

Bulloch

0

0

12

0

0

12

2,171

0.21

0.18

Burke

0

0

5

0

0

5

1,845

0.25

0.21

Butts

0

0

7

0

4

11

824

0.56

0.47

Calhoun

0

0

0

0

0

0

 n/a

0.00

0.00

Camden

0

0

19

0

0

19

1,067

0.43

0.36

Candler

0

0

0

0

1

1

3,962

0.12

0.10

Carroll

0

0

122

0

73

195

227

2.04

1.69

Catoosa

0

0

29

0

14

43

594

0.78

0.65

Charlton

0

0

0

0

0

0

 n/a

0.00

0.00

Chatham

0

0

125

0

50

175

630

0.74

0.61

Chattahoochee

0

0

1

0

2

3

1,116

0.42

0.35

Chattooga

0

0

3

0

0

3

3,639

0.13

0.11

Cherokee

1

0

149

0

67

217

347

1.34

1.11

Clarke

0

0

29

0

1

30

1,638

0.28

0.24

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Clayton

2

0

364

0

209

575

181

2.57

2.13

Clinch

0

0

0

0

0

0

 n/a

0.00

0.00

Cobb

24

0

489

0

284

797

344

1.35

1.12

Coffee

0

0

15

0

0

15

1,107

0.42

0.35

Colquitt

0

0

8

0

0

8

2,275

0.20

0.17

Columbia

0

0

41

0

11

52

800

0.58

0.48

Cook

0

0

0

0

0

0

 n/a

0.00

0.00

Coweta

0

0

75

0

31

106

417

1.11

0.92

Crawford

0

0

5

0

7

12

471

0.99

0.82

Crisp

0

0

3

0

0

3

3,356

0.14

0.11

Dade

0

0

7

0

0

7

922

0.50

0.42

Dawson

0

0

3

0

9

12

790

0.59

0.49

Decatur

0

0

9

0

0

9

1,504

0.31

0.26

DeKalb

0

0

851

0

468

1,319

229

2.03

1.68

Dodge

0

0

5

0

0

5

1,688

0.27

0.23

Dooly

0

0

2

0

0

2

2,284

0.20

0.17

Dougherty

0

0

29

0

12

41

1,010

0.46

0.38

Douglas

0

0

140

0

86

226

206

2.25

1.87

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

18

0

8

26

692

0.67

0.56

Elbert

0

0

6

0

0

6

1,564

0.30

0.25

Emanuel

0

0

4

0

0

4

2,407

0.19

0.16

Evans

0

0

0

0

0

0

 n/a

0.00

0.00

Fannin

0

0

11

0

0

11

1,510

0.31

0.25

Fayette

0

0

67

0

36

103

372

1.25

1.03

Floyd

0

0

38

0

1

39

1,014

0.46

0.38

Forsyth

0

0

56

0

37

93

597

0.78

0.64

Franklin

0

0

6

0

0

6

1,592

0.29

0.24

Fulton

11

0

1,352

0

821

2,184

193

2.41

2.00

Gilmer

0

0

16

0

13

29

543

0.86

0.71

Glascock

0

0

0

0

0

0

 n/a

0.00

0.00

Glynn

0

0

40

0

0

40

932

0.50

0.41

Gordon

0

0

20

0

4

24

852

0.54

0.45

Grady

0

0

0

0

0

0

 n/a

0.00

0.00

Greene

0

0

0

0

0

0

 n/a

0.00

0.00

Gwinnett

14

0

640

0

276

930

296

1.57

1.30

Habersham

0

0

17

0

6

23

745

0.62

0.52

Hall

11

0

113

0

45

169

362

1.28

1.06

Hancock

0

0

0

0

0

0

 n/a

0.00

0.00

Haralson

0

0

3

0

13

16

742

0.63

0.52

Harris

0

0

8

0

0

8

1,570

0.30

0.25

Hart

0

0

4

0

0

4

2,961

0.16

0.13

Heard

0

0

0

0

0

0

 n/a

0.00

0.00

Henry

1

0

251

0

175

427

160

2.90

2.41

Houston

0

0

62

0

0

62

882

0.53

0.44

Irwin

0

0

0

0

0

0

 n/a

0.00

0.00

Jackson

6

0

45

0

29

80

280

1.66

1.38

Jasper

0

0

10

0

4

14

427

1.09

0.90

Jeff Davis

0

0

1

0

0

1

5,657

0.08

0.07

Jefferson

0

0

2

0

0

2

3,690

0.13

0.10

Jenkins

0

0

1

0

0

1

3,942

0.12

0.10

Johnson

0

0

1

0

0

1

3,667

0.13

0.10

Jones

0

0

5

0

0

5

2,175

0.21

0.18

Lamar

0

0

6

0

0

6

1,183

0.39

0.33

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

0

7

0

0

7

1,599

0.29

0.24

Liberty

0

0

20

0

0

20

1,195

0.39

0.32

Lincoln

0

0

5

0

0

5

951

0.49

0.40

Long

0

0

1

0

0

1

4,338

0.11

0.09

Lowndes

0

0

21

0

1

22

1,906

0.24

0.20

Lumpkin

0

0

7

0

4

11

968

0.48

0.40

Macon

0

0

1

0

0

1

5,627

0.08

0.07

Madison

0

0

14

0

0

14

823

0.56

0.47

Marion

0

0

1

0

0

1

3,205

0.14

0.12

McDuffie

0

0

3

0

7

10

927

0.50

0.42

McIntosh

0

0

2

0

0

2

3,252

0.14

0.12

Meriwether

0

0

8

0

0

8

1,284

0.36

0.30

Miller

0

0

0

0

0

0

 n/a

0.00

0.00

Mitchell

0

0

2

0

0

2

4,631

0.10

0.08

Monroe

0

0

1

0

0

1

9,541

0.05

0.04

Montgomery

0

0

0

0

0

0

 n/a

0.00

0.00

Morgan

0

0

6

0

0

6

1,225

0.38

0.31

Murray

0

0

0

0

0

0

 n/a

0.00

0.00

Muscogee

0

0

77

0

127

204

402

1.15

0.96

Newton

1

0

14

0

93

108

328

1.42

1.18

Oconee

0

0

8

0

0

8

1,499

0.31

0.26

Oglethorpe

0

0

0

0

0

0

 n/a

0.00

0.00

Paulding

0

0

73

0

27

100

471

0.99

0.82

Peach

0

0

21

0

1

22

468

0.99

0.82

Pickens

0

0

8

0

3

11

1,224

0.38

0.31

Pierce

0

0

3

0

0

3

2,428

0.19

0.16

Pike

0

0

5

0

0

5

1,299

0.36

0.30

Polk

0

0

29

0

10

39

430

1.08

0.90

Pulaski

0

0

0

0

0

0

 n/a

0.00

0.00

Putnam

0

0

8

0

0

8

1,489

0.31

0.26

Quitman

0

0

0

0

0

0

 n/a

0.00

0.00

Rabun

0

0

4

0

3

7

1,765

0.26

0.22

Randolph

0

0

0

0

0

0

 n/a

0.00

0.00

Richmond

0

0

120

0

56

176

490

0.95

0.79

Rockdale

0

0

99

0

55

154

196

2.37

1.96

Schley

0

0

0

0

0

0

 n/a

0.00

0.00

Screven

0

0

1

0

0

1

7,103

0.07

0.05

Seminole

0

0

0

0

0

0

 n/a

0.00

0.00

Spalding

0

0

57

0

23

80

322

1.44

1.19

Stephens

0

0

10

0

2

12

1,021

0.45

0.38

Stewart

0

0

0

0

0

0

 n/a

0.00

0.00

Sumter

0

0

8

0

0

8

1,774

0.26

0.22

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

2

0

0

2

4,383

0.11

0.09

Taylor

0

0

0

0

0

0

 n/a

0.00

0.00

Telfair

0

0

2

0

0

2

2,572

0.18

0.15

Terrell

0

0

4

0

0

4

1,165

0.40

0.33

Thomas

0

0

17

0

0

17

1,157

0.40

0.33

Tift

0

0

5

0

0

5

3,232

0.14

0.12

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

0

6

0

0

6

4,427

0.10

0.09

Turner

0

0

0

0

0

0

 n/a

0.00

0.00

Twiggs

0

0

0

0

2

2

2,216

0.21

0.17

Union

0

0

3

0

1

4

3,231

0.14

0.12

Upson

0

0

6

0

0

6

2,042

0.23

0.19

Walker

0

0

54

0

1

55

511

0.91

0.75

Walton

3

0

83

0

41

127

241

1.93

1.60

Ware

0

0

6

0

1

7

2,339

0.20

0.16

Warren

0

0

0

0

0

0

 n/a

0.00

0.00

Washington

0

0

0

0

1

1

8,534

0.05

0.05

Wayne

0

0

5

0

0

5

2,209

0.21

0.17

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

8

0

4

12

967

0.48

0.40

Whitfield

0

0

55

0

4

59

588

0.79

0.66

Wilcox

0

0

1

0

0

1

3,382

0.14

0.11

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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