GEORGIA FORECLOSURE ACTIVITY UP 38 PERCENT IN OCTOBER

ACCORDING TO REALTYTRAC® U.S. FORECLOSURE MARKET REPORT

 

Activity Level Up 65 Percent From October 2006; Foreclosure Rate Ranks No. 5

 

IRVINE, Calif. – Nov. 26, 2007 – Georgia reported 11,352 foreclosure filings in October, the sixth highest foreclosure total in the nation. Total foreclosure activity in the state increased 38 percent from September and was up 65 percent from October 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate of one foreclosure filing for every 332 households was 1.7 times the national average and ranked fifth highest 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.

 

“Foreclosure activity in Georgia rose significantly from last month and is still well ahead of the level reported for the same time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “One factor contributing to this is the rate of appreciation for home prices, which continues to slow down, thus making it harder for distressed homeowners to sell their way out of foreclosure.

 

Although ranked sixth in the country for October, foreclosure activity in the Peach State lagged far behind national leader California by about 39,000 foreclosure filings. Second ranked Florida totaled nearly 19,000 more foreclosure filings than Georgia, while third place Ohio tallied almost 6,000 more filings for the month. Fourth place Michigan had just over 2,100 more filings, while fifth place Texas had roughly 900 more foreclosure filings than Georgia for the month. The remaining states in the nation’s top 10 for total foreclosure filings in October were Illinois, Nevada, New York and Arizona.

 

Fulton County leads state in foreclosure filings for October

Fulton County led the state in total foreclosure activity, reporting 2,845 foreclosure filings for October. Dekalb County tallied the second highest foreclosure total, reporting 1,616 foreclosure filings. Third highest foreclosure total was reported by Gwinnett County, with 1,082 foreclosure filings. Total foreclosure filings in the top three counties accounted for 49 percent of all filings entering some stage of the foreclosure pipeline in the state for the month.

 

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

With one foreclosure filing for every 126 households — 2.6 times the state average and 4.4 times the national average, Clayton County led the state with the highest foreclosure rate for October. Fulton County came in second with a rate of one foreclosure filing for every 142 households — 2.3 times the state average and 3.9 times the national average. Third highest rate was posted by Henry County, with one foreclosure filing for every 146 households — 2.3 times the state average and 3.8 times the national average. Fourth highest rate was reported in Douglas County, one foreclosure filing for every 168 households, and Rockdale County rounded out the state’s top five with a rate of one foreclosure filing for every 179 households.

 

State a significant contributor to nation’s total for the month

Total filings in Georgia accounted for 5 percent of the 224,451 foreclosure filings reported nationwide in October. The national total represents a 2 percent increase from the previous month, and is 94 percent above the total reported for October 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 555 U.S. households for 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 – October 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

41,404

58,597

22,485

48,356

53,609

224,451

555

n/a

n/a

Georgia

18

8,752

0

0

2,582

11,352

332

1.67

n/a

 

 

 

 

 

 

 

 

 

 

Appling

0

2

0

0

0

2

4,001

0.14

0.08

Atkinson

0

0

0

0

0

0

n/a

0.00

0.00

Bacon

0

1

0

0

0

1

4,530

0.12

0.07

Baker

0

0

0

0

0

0

 n/a

0.00

0.00

Baldwin

0

0

0

0

0

0

 n/a

0.00

0.00

Banks

0

7

0

0

6

13

498

1.11

0.67

Barrow

0

52

0

0

14

66

351

1.58

0.95

Bartow

0

73

0

0

29

102

344

1.61

0.97

Ben Hill

0

8

0

0

4

12

656

0.85

0.51

Berrien

0

2

0

0

0

2

3,704

0.15

0.09

Bibb

0

184

0

0

105

289

244

2.27

1.36

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

1

1

7,299

0.08

0.05

Bryan

0

10

0

0

0

10

1,074

0.52

0.31

Bulloch

0

15

0

0

0

15

1,705

0.33

0.19

Burke

0

10

0

0

0

10

918

0.60

0.36

Butts

0

2

0

0

0

2

4,411

0.13

0.08

Calhoun

0

0

0

0

0

0

 n/a

0.00

0.00

Camden

0

15

0

0

0

15

1,307

0.42

0.25

Candler

0

0

0

0

0

0

n/a 

0.00

0.00

Carroll

1

96

0

0

67

164

262

2.12

1.27

Catoosa

0

43

0

0

13

56

442

1.26

0.75

Charlton

0

0

0

0

0

0

n/a 

0.00

0.00

Chatham

0

126

0

0

27

153

705

0.79

0.47

Chattahoochee

0

2

0

0

0

2

1,668

0.33

0.20

Chattooga

0

12

0

0

0

12

907

0.61

0.37

Cherokee

0

197

0

0

55

252

283

1.96

1.17

Clarke

0

34

0

0

1

35

1,377

0.40

0.24

Clay

0

0

0

0

0

0

n/a 

0.00

0.00

Clayton

0

672

0

0

138

810

126

4.41

2.64

Clinch

0

0

0

0

0

0

n/a 

0.00

0.00

Cobb

0

708

0

0

115

823

326

1.70

1.02

Coffee

0

1

0

0

1

2

8,238

0.07

0.04

Colquitt

0

2

0

0

2

4

4,500

0.12

0.07

Columbia

0

40

0

0

10

50

798

0.69

0.42

Cook

0

0

0

0

0

0

n/a 

0.00

0.00

Coweta

0

107

0

0

58

165

256

2.17

1.30

Crawford

0

1

0

0

0

1

5,545

0.10

0.06

Crisp

0

1

0

0

0

1

9,965

0.06

0.03

Dade

0

6

0

0

0

6

1,066

0.52

0.31

Dawson

0

7

0

0

5

12

757

0.73

0.44

Decatur

0

5

0

0

0

5

2,651

0.21

0.13

Dekalb

1

1,294

0

0

321

1,616

183

3.04

1.82

Dodge

0

0

0

0

0

0

n/a 

0.00

0.00

Dooly

0

0

0

0

0

0

n/a 

0.00

0.00

Dougherty

0

4

0

0

12

16

2,579

0.22

0.13

Douglas

0

216

0

0

50

266

168

3.30

1.98

Early

0

1

0

0

1

2

2,726

0.20

0.12

Echols

0

0

0

0

0

0

n/a 

0.00

0.00

Effingham

0

2

0

0

4

6

2,851

0.19

0.12

Elbert

0

11

0

0

0

11

845

0.66

0.39

Emanuel

0

7

0

0

0

7

1,371

0.40

0.24

Evans

0

2

0

0

0

2

2,269

0.24

0.15

Fannin

0

6

0

0

0

6

2,641

0.21

0.13

Fayette

0

104

0

0

27

131

286

1.94

1.16

Floyd

0

48

0

0

4

52

750

0.74

0.44

Forsyth

1

97

0

0

34

132

390

1.42

0.85

Franklin

0

8

0

0

2

10

954

0.58

0.35

Fulton

12

1,981

0

0

852

2,845

142

3.90

2.33

Gilmer

0

8

0

0

7

15

1,005

0.55

0.33

Glascock

0

0

0

0

0

0

n/a 

0.00

0.00

Glynn

0

18

0

0

0

18

2,018

0.27

0.16

Gordon

0

28

0

0

11

39

511

1.09

0.65

Grady

0

3

0

0

0

3

3,446

0.16

0.10

Greene

0

0

0

0

0

0

n/a 

0.00

0.00

Gwinnett

3

930

0

0

149

1,082

245

2.26

1.35

Habersham

0

11

0

0

4

15

1,117

0.50

0.30

Hall

0

86

0

0

9

95

622

0.89

0.53

Hancock

0

0

0

0

0

0

n/a 

0.00

0.00

Haralson

0

1

0

0

9

10

1,163

0.48

0.29

Harris

0

0

0

0

0

0

n/a 

0.00

0.00

Hart

0

10

0

0

0

10

1,164

0.48

0.29

Heard

0

0

0

0

0

0

n/a 

0.00

0.00

Henry

0

387

0

0

56

443

146

3.81

2.28

Houston

0

63

0

0

1

64

828

0.67

0.40

Irwin

0

2

0

0

0

2

2,104

0.26

0.16

Jackson

0

29

0

0

17

46

458

1.21

0.73

Jasper

0

8

0

0

7

15

384

1.45

0.87

Jeff Davis

0

2

0

0

0

2

2,836

0.20

0.12

Jefferson

0

0

0

0

0

0

n/a 

0.00

0.00

Jenkins

0

1

0

0

0

1

3,931

0.14

0.08

Johnson

0

0

0

0

0

0

n/a 

0.00

0.00

Jones

0

12

0

0

0

12

888

0.62

0.37

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

0

0

0

0

0

n/a 

0.00

0.00

Lee

0

9

0

0

0

9

1,200

0.46

0.28

Liberty

0

17

0

0

1

18

1,312

0.42

0.25

Lincoln

0

2

0

0

0

2

2,360

0.24

0.14

Long

0

1

0

0

0

1

4,350

0.13

0.08

Lowndes

0

29

0

0

0

29

1,413

0.39

0.24

Lumpkin

0

6

0

0

8

14

726

0.76

0.46

Macon

0

1

0

0

0

1

5,611

0.10

0.06

Madison

0

15

0

0

1

16

708

0.78

0.47

Marion

0

2

0

0

0

2

1,605

0.35

0.21

McDuffie

0

17

0

0

1

18

514

1.08

0.65

McIntosh

0

0

0

0

0

0

n/a 

0.00

0.00

Meriwether

0

2

0

0

0

2

5,078

0.11

0.07

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

0

0

0

0

0

n/a 

0.00

0.00

Montgomery

0

0

0

0

0

0

n/a 

0.00

0.00

Morgan

0

1

0

0

0

1

7,088

0.08

0.05

Murray

0

1

0

0

1

2

7,742

0.07

0.04

Muscogee

0

122

0

0

49

171

474

1.17

0.70

Newton

0

3

0

0

47

50

667

0.83

0.50

Oconee

0

13

0

0

0

13

883

0.63

0.38

Oglethorpe

0

0

0

0

0

0

n/a 

0.00

0.00

Paulding

0

117

0

0

42

159

275

2.02

1.21

Peach

0

0

0

0

2

2

4,981

0.11

0.07

Pickens

0

16

0

0

12

28

467

1.19

0.71

Pierce

0

5

0

0

0

5

1,439

0.39

0.23

Pike

0

12

0

0

1

13

479

1.16

0.69

Polk

0

31

0

0

13

44

376

1.48

0.88

Pulaski

0

0

0

0

0

0

n/a 

0.00

0.00

Putnam

0

0

0

0

2

2

5,806

0.10

0.06

Quitman

0

0

0

0

0

0

n/a 

0.00

0.00

Rabun

0

3

0

0

2

5

2,387

0.23

0.14

Randolph

0

0

0

0

0

0

n/a 

0.00

0.00

Richmond

0

147

0

0

88

235

365

1.52

0.91

Rockdale

0

153

0

0

10

163

179

3.09

1.85

Schley

0

2

0

0

0

2

824

0.67

0.40

Screven

0

0

0

0

1

1

7,082

0.08

0.05

Seminole

0

0

0

0

0

0

n/a 

0.00

0.00

Spalding

0

67

0

0

39

106

240

2.31

1.39

Stephens

0

10

0

0

2

12

1,014

0.55

0.33

Stewart

0

0

0

0

0

0

n/a 

0.00

0.00

Sumter

0

8

0

0

0

8

1,771

0.31

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

0

0

0

0

0

n/a 

0.00

0.00

Taylor

0

1

0

0

0

1

4,117

0.13

0.08

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

19,344

0.03

0.02

Tift

0

9

0

0

1

10

1,606

0.35

0.21

Toombs

0

0

0

0

0

0

n/a 

0.00

0.00

Towns

0

1

0

0

0

1

7,580

0.07

0.04

Treutlen

0

0

0

0

0

0

n/a 

0.00

0.00

Troup

0

2

0

0

4

6

4,363

0.13

0.08

Turner

0

0

0

0

0

0

n/a 

0.00

0.00

Twiggs

0

0

0

0

1

1

4,424

0.13

0.08

Union

0

0

0

0

0

0

n/a 

0.00

0.00

Upson

0

11

0

0

0

11

1,106

0.50

0.30

Walker

0

27

0

0

2

29

954

0.58

0.35

Walton

0

20

0

0

17

37

785

0.71

0.42

Ware

0

17

0

0

1

18

905

0.61

0.37

Warren

0

0

0

0

0

0

n/a 

0.00

0.00

Washington

0

1

0

0

0

1

8,476

0.07

0.04

Wayne

0

11

0

0

0

11

1,005

0.55

0.33

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

10

0

0

2

12

936

0.59

0.35

Whitfield

0

8

0

0

4

12

2,837

0.20

0.12

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

 

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