GEORGIA FORECLOSURES INCREASE 16 PERCENT IN MAY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Activity Up 44 Percent From May 2006; Foreclosure Rate in Top 10

 

IRVINE, Calif. – June 15, 2007 – Georgia reported 8,294 foreclosure filings in May, a 16 percent increase from the previous month, and up 44 percent from the number reported in May 2006, according to the latest RealtyTrac™ U.S. Foreclosure Market Report. Georgia posted a foreclosure rate of one foreclosure filing for every 396 households — seventh highest in the nation and 1.7 times the national average.

 

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.

 

“Foreclosure activity in Georgia has been on the upswing for the past couple of months, and is up significantly over this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Although unemployment is lower with the addition of new jobs in service-related industries, thousands of manufacturing jobs have been lost in Georgia over the past year. That, along with weak home prices are contributing to the state’s continuing foreclosure woes.”

 

Reporting the sixth highest foreclosure total for the month, the Peach State was more than 31,300 foreclosure filings behind national leader California. Second place Florida counted 13,400 more foreclosure filings than Georgia. Ohio came in third with 4,900 more foreclosure filings than Georgia’s total. Fourth place Texas had 1,300 more foreclosure filings, and Michigan tallied 1,100 more filings to take fifth place for the month. The remaining states in the nation’s top 10 for total foreclosures in May were Illinois, Colorado, Arizona and Nevada.

 

Five counties responsible for bulk of state activity in May

Foreclosure filings in five Georgia counties combined accounted for 58 percent of all foreclosures in the state for May. Fulton County documented the highest foreclosure total, with 1,581 foreclosure filings for the month. DeKalb County reported the state’s second highest foreclosure total, with 1,337 foreclosure filings. Gwinnett County documented the third highest foreclosure total, where 782 foreclosure filings were reported. Clayton County posted the fourth highest foreclosure total, with 568 foreclosure filings. Cobb County rounded out the top five with 558 foreclosure filings in the foreclosure pipeline.

 

Henry County posts state’s highest foreclosure rate

Henry County posted the highest foreclosure rate in Georgia in May, with one foreclosure filing for every 122 households — 3.2 times the state average and 5.4 times the national average. Clayton County posted the second highest foreclosure rate, with one foreclosure filing for every 152 households — 2.6 times the state average and 4.3 times the national average. Douglas County posted the third highest foreclosure rate, with one foreclosure filing for every 176 households — 2.3 times the state average and 3.7 times the national average. Rockdale County posted the fourth highest foreclosure rate, with one foreclosure filing for every 178 households. Carroll County had the state’s fifth highest foreclosure rate, with one foreclosure filing for every 185 households.

 

State a major contributor to national total

Total foreclosure filings in Georgia accounted for 5 percent of the 176,137 foreclosure filings nationwide in May. The national total was up 19 percent from the previous month and up 90 percent from May 2006. The nation’s foreclosure rate increased to one foreclosure filing for every 656 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 – May 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

55,615

56,481

9,760

25,733

28,548

176,137

656

n/a

n/a

Georgia

16

5,727

0

0

2,551

8,294

396

1.66

n/a

 

 

 

 

 

 

 

 

 

 

Appling

0

4

0

0

0

4

1,964

0.33

0.20

Bacon

0

1

0

0

0

1

4,464

0.15

0.09

Baker

0

0

0

0

0

0

n/a

0.00

0.00

Baldwin

0

9

0

0

0

9

1,908

0.34

0.21

Banks

0

14

0

0

3

17

342

1.92

1.16

Barrow

0

44

0

0

45

89

194

3.38

2.04

Bartow

0

3

0

0

10

13

2,212

0.30

0.18

Ben Hill

0

5

0

0

1

6

1,271

0.52

0.31

Berrien

0

3

0

0

0

3

2,367

0.28

0.17

Bibb

0

153

0

0

108

261

257

2.55

1.54

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

1

0

0

0

1

8,675

0.08

0.05

Bulloch

0

10

0

0

1

11

2,067

0.32

0.19

Burke

0

8

0

0

0

8

1,105

0.59

0.36

Butts

0

5

0

0

1

6

1,230

0.53

0.32

Camden

0

15

0

0

0

15

1,131

0.58

0.35

Carroll

1

117

0

0

66

184

185

3.55

2.14

Catoosa

0

23

0

0

6

29

752

0.87

0.53

Charlton

0

2

0

0

0

2

1,930

0.34

0.21

Chatham

0

119

0

0

42

161

619

1.06

0.64

Chattooga

0

13

0

0

0

13

821

0.80

0.48

Cherokee

0

143

0

0

42

185

281

2.34

1.41

Clarke

0

22

0

0

0

22

1,915

0.34

0.21

Clayton

2

379

0

0

187

568

152

4.31

2.60

Clinch

0

1

0

0

0

1

2,837

0.23

0.14

Cobb

1

424

0

0

133

558

426

1.54

0.93

Coffee

0

1

0

0

0

1

15,610

0.04

0.03

Colquitt

0

7

0

0

0

7

2,508

0.26

0.16

Columbia

0

25

0

0

10

35

952

0.69

0.42

Cook

0

1

0

0

0

1

6,558

0.10

0.06

Coweta

0

65

0

0

30

95

349

1.88

1.13

Crawford

0

6

0

0

3

9

541

1.21

0.73

Crisp

0

4

0

0

0

4

2,390

0.27

0.17

Dade

0

2

0

0

0

2

3,112

0.21

0.13

Dawson

0

10

0

0

6

16

448

1.47

0.88

Decatur

0

8

0

0

0

8

1,496

0.44

0.26

DeKalb

4

902

0

0

431

1,337

195

3.36

2.03

Dooly

0

0

0

0

0

0

n/a

0.00

0.00

Dougherty

0

4

0

0

6

10

3,966

0.17

0.10

Douglas

0

131

0

0

67

198

176

3.73

2.25

Early

0

2

0

0

0

2

2,669

0.25

0.15

Echols

0

0

0

0

0

0

n/a

0.00

0.00

Effingham

0

1

0

0

12

13

1,090

0.60

0.36

Elbert

0

9

0

0

0

9

1,015

0.65

0.39

Emanuel

0

8

0

0

0

8

1,177

0.56

0.34

Evans

0

5

0

0

0

5

876

0.75

0.45

Fannin

0

3

0

0

0

3

3,711

0.18

0.11

Fayette

2

57

0

0

23

82

399

1.64

0.99

Floyd

0

57

0

0

1

58

631

1.04

0.63

Forsyth

0

43

0

0

12

55

664

0.99

0.60

Franklin

0

7

0

0

3

10

930

0.71

0.43

Fulton

2

1,113

0

0

466

1,581

221

2.98

1.79

Gilmer

0

10

0

0

7

17

701

0.94

0.56

Glascock

0

0

0

0

0

0

n/a

0.00

0.00

Glynn

0

1

0

0

0

1

32,636

0.02

0.01

Gordon

0

18

0

0

7

25

686

0.96

0.58

Grady

0

2

0

0

0

2

4,996

0.13

0.08

Greene

0

0

0

0

0

0

n/a

0.00

0.00

Gwinnett

0

552

0

0

230

782

268

2.45

1.48

Habersham

0

9

0

0

4

13

1,126

0.58

0.35

Hall

0

70

0

0

40

110

464

1.41

0.85

Hancock

0

0

0

0

0

0

n/a

0.00

0.00

Haralson

0

0

0

0

2

2

5,360

0.12

0.07

Harris

1

2

0

0

0

3

3,429

0.19

0.12

Hart

0

1

0

0

0

1

11,111

0.06

0.04

Heard

0

1

0

0

0

1

4,512

0.15

0.09

Henry

1

225

0

0

127

353

122

5.37

3.24

Houston

0

37

0

0

2

39

1,141

0.58

0.35

Irwin

0

3

0

0

0

3

1,383

0.47

0.29

Jackson

0

48

0

0

9

57

285

2.31

1.39

Jasper

0

13

0

0

4

17

283

2.32

1.40

Jenkins

0

1

0

0

0

1

3,907

0.17

0.10

Jones

0

8

0

0

0

8

1,159

0.57

0.34

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

0.03

0.02

Lee

0

3

0

0

0

3

2,938

0.22

0.13

Liberty

0

19

0

0

0

19

1,157

0.57

0.34

Lincoln

0

1

0

0

0

1

4,514

0.15

0.09

Lowndes

1

21

0

0

0

22

1,661

0.40

0.24

Lumpkin

0

15

0

0

22

37

223

2.94

1.77

Macon

0

0

0

0

0

0

n/a

0.00

0.00

Madison

0

14

0

0

0

14

751

0.87

0.53

Marion

0

2

0

0

0

2

1,565

0.42

0.25

McDuffie

0

7

0

0

1

8

1,115

0.59

0.36

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

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

Morgan

0

4

0

0

0

4

1,532

0.43

0.26

Murray

0

1

0

0

1

2

7,160

0.09

0.06

Muscogee

1

77

0

0

25

103

740

0.89

0.53

Newton

0

4

0

0

50

54

427

1.54

0.93

Oconee

0

3

0

0

0

3

3,176

0.21

0.12

Oglethorpe

0

0

0

0

0

0

n/a

0.00

0.00

Paulding

0

97

0

0

53

150

195

3.36

2.03

Peach

0

2

0

0

0

2

4,547

0.14

0.09

Pickens

0

10

0

0

9

19

562

1.17

0.70

Pierce

0

2

0

0

0

2

3,360

0.20

0.12

Pike

0

3

0

0

3

6

845

0.78

0.47

Polk

0

24

0

0

17

41

367

1.79

1.08

Pulaski

0

1

0

0

0

1

3,944

0.17

0.10

Putnam

0

2

0

0

0

2

5,160

0.13

0.08

Rabun

0

6

0

0

0

6

1,702

0.39

0.23

Richmond

0

115

0

0

67

182

452

1.45

0.87

Rockdale

0

100

0

0

41

141

178

3.69

2.22

Schley

0

2

0

0

0

2

806

0.81

0.49

Screven

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

55

0

0

51

106

217

3.03

1.82

Stephens

0

3

0

0

9

12

971

0.68

0.41

Sumter

0

8

0

0

0

8

1,713

0.38

0.23

Tattnall

0

1

0

0

0

1

8,578

0.08

0.05

Taylor

0

0

0

0

0

0

n/a

0.00

0.00

Telfair

0

2

0

0

0

2

2,542

0.26

0.16

Terrell

0

0

0

0

0

0

n/a

0.00

0.00

Thomas

0

0

0

0

0

0

n/a

0.00

0.00

Tift

0

5

0

0

0

5

3,082

0.21

0.13

Towns

0

0

0

0

0

0

n/a

0.00

0.00

Troup

0

3

0

0

0

3

7,941

0.08

0.05

Turner

0

0

0

0

0

0

n/a

0.00

0.00

Twiggs

0

1

0

0

0

1

4,291

0.15

0.09

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

36

0

0

3

39

656

1.00

0.60

Walton

0

39

0

0

47

86

262

2.51

1.51

Ware

0

17

0

0

1

18

880

0.75

0.45

Washington

0

0

0

0

0

0

n/a

0.00

0.00

Wayne

0

6

0

0

0

6

1,805

0.36

0.22

White

0

12

0

0

4

16

591

1.11

0.67

Whitfield

0

12

0

0

0

12

2,560

0.26

0.15

Wilkinson

0

1

0

0

0

1

4,449

0.15

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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