GEORGIA FORECLOSURES INCREASE 75 PERCENT IN JULY

ACCORDING TO REALTYTRAC™ U.S. FORECLOSURE MARKET REPORT

 

Foreclosure Rate Second Highest in U.S.; Activity Up 168 Percent From July 2006

 

IRVINE, Calif. – Aug. 24, 2007 – Georgia reported 12,602 foreclosure filings in July, up 75 percent from the previous month and the fifth highest state foreclosure total in the nation. On an annual basis, the state’s foreclosure level was up 168 percent from July 2006, according to the latest RealtyTrac® U.S. Foreclosure Market Report. The state’s foreclosure rate, one foreclosure filing for every 299 households, was the second highest in the nation and more than twice the national average.

 

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.

 

“After months of fairly flat numbers, foreclosure activity in Georgia shot up significantly in July to the highest level seen so far in 2007,” said James J. Saccacio, chief executive officer of RealtyTrac. “The recent rise in unemployment, sparked by a 34 percent increase in layoffs of seasonal workers in the manufacturing sector between June and July, could be partly to blame for this sudden upswing in activity.”

 

Total foreclosure filings in the Peach State were less than one-third the total reported by national leader California, which tallied 39,013 foreclosure filings for July. The state also lagged far behind second-ranked Florida, by 6,500 filings. Michigan came in third, reporting 1,300 more filings than Georgia for the month, and fourth place Ohio exceeded Georgia’s total by 700 foreclosure filings. Georgia beat out Texas for fifth place by only 161 filings in some stage of the foreclosure pipeline. The remaining states in the nation’s top 10 for total foreclosure filings in July were Colorado, Arizona, Illinois and Nevada.

 

Four counties account for bulk of all foreclosure activity in July

Four Georgia counties accounted for 60 percent of all activity in the state for July. Once again Fulton County led the state in foreclosure activity, reporting 3,220 filings for the month. Second highest total was reported in DeKalb County with 2,003 foreclosure filings. Gwinnett County registered the third highest total for the month, 1,210 foreclosure filings. Cobb County rounded out the top four, with 1,074 filings in some stage of the foreclosure pipeline.

 

Henry County continues to post highest foreclosure rate

For the third consecutive month Henry County posted the highest foreclosure rate in the state. For July, the state reported a rate of one foreclosure filing for every 102 households — three times the state average and 6.8 times the national average. Douglas County posted the second highest rate in the state, one foreclosure filing for every 114 households — 2.6 times the state average and 6.1 times the national average. Third highest rate was reported in Clayton County, one foreclosure filing for every 116 households — 2.6 times the state average and nearly six times the national average. Fulton County posted the fourth highest county foreclosure rate, one foreclosure filing for every 126 households — 2.4 times the state average and 5.5 times the national average. Rockdale County came in with the fifth highest rate in the state, one foreclosure filing for every 137 households — 2.2 times the state average and 5.1 times the national average.

 

State a major contributor to national total

Total foreclosure filings in Georgia accounted for 7 percent of the 179,599 foreclosure filings nationwide in July. The national total was up 9 percent from the previous month and up 93 percent from July 2006. The nation’s foreclosure rate was one foreclosure filing for every 693 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 – July 2007

 

County

NOD

NTS

NFS

LIS

REO

Total

1 in every # households

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,741

57,327

23,136

35,553

26,842

179,599

693

n/a

n/a

Georgia

19

11,122

0

0

1,461

12,602

299

2.32

n/a

 

 

 

 

 

 

 

 

 

 

Appling

0

5

0

0

0

5

1,600

0.43

0.19

Bacon

0

0

0

0

0

0

n/a

0.00

0.00

Baker

0

0

0

0

0

0

 

0.00

0.00

Baldwin

0

14

0

0

0

14

1,309

0.53

0.23

Banks

0

5

0

0

2

7

926

0.75

0.32

Barrow

0

67

0

0

6

73

317

2.19

0.94

Bartow

0

67

0

0

22

89

394

1.76

0.76

Ben Hill

0

5

0

0

1

6

1,312

0.53

0.23

Berrien

0

0

0

0

0

0

 

0.00

0.00

Bibb

0

161

0

0

3

164

431

1.61

0.70

Bleckley

0

0

0

0

0

0

 

0.00

0.00

Brantley

0

0

0

0

0

0

 

0.00

0.00

Brooks

0

1

0

0

0

1

7,299

0.09

0.04

Bryan

0

9

0

0

0

9

1,194

0.58

0.25

Bulloch

0

11

0

0

1

12

2,132

0.33

0.14

Burke

0

9

0

0

0

9

1,020

0.68

0.29

Butts

0

10

0

0

0

10

882

0.79

0.34

Calhoun

0

0

0

0

0

0

 

0.00

0.00

Camden

0

7

0

0

0

7

2,801

0.25

0.11

Carroll

0

165

0

0

48

213

202

3.44

1.48

Catoosa

0

30

0

0

7

37

669

1.04

0.45

Charlton

0

1

0

0

0

1

3,992

0.17

0.07

Chatham

1

100

0

0

32

133

811

0.85

0.37

Chattahoochee

0

1

0

0

0

1

3,336

0.21

0.09

Chattooga

0

9

0

0

0

9

1,209

0.57

0.25

Cherokee

0

268

0

0

39

307

232

2.98

1.29

Clarke

0

31

0

0

0

31

1,555

0.45

0.19

Clayton

2

810

0

0

64

876

116

5.96

2.57

Clinch

0

0

0

0

0

0

 

0.00

0.00

Cobb

1

974

0

0

99

1,074

250

2.78

1.20

Coffee

0

0

0

0

0

0

 

0.00

0.00

Colquitt

0

2

0

0

0

2

9,000

0.08

0.03

Columbia

0

50

0

0

7

57

700

0.99

0.43

Cook

0

0

0

0

0

0

 

0.00

0.00

Coweta

0

65

0

0

13

78

542

1.28

0.55

Crawford

0

5

0

0

0

5

1,109

0.63

0.27

Crisp

0

1

0

0

0

1

9,965

0.07

0.03

Dade

0

4

0

0

0

4

1,599

0.43

0.19

Dawson

0

3

0

0

1

4

2,270

0.31

0.13

Decatur

0

5

0

0

0

5

2,651

0.26

0.11

Dekalb

1

1,743

0

0

259

2,003

147

4.70

2.03

Dodge

0

0

0

0

0

0

 

0.00

0.00

Dooly

0

0

0

0

0

0

 

0.00

0.00

Dougherty

1

4

0

0

1

6

6,878

0.10

0.04

Douglas

0

338

0

0

55

393

114

6.09

2.63

Early

0

1

0

0

0

1

5,451

0.13

0.05

Effingham

0

0

0

0

1

1

17,108

0.04

0.02

Elbert

0

7

0

0

0

7

1,327

0.52

0.23

Emanuel

0

3

0

0

0

3

3,200

0.22

0.09

Evans

0

1

0

0

0

1

4,538

0.15

0.07

Fannin

0

5

0

0

0

5

3,170

0.22

0.09

Fayette

0

119

0

0

11

130

288

2.40

1.04

Floyd

0

41

0

0

1

42

929

0.75

0.32

Forsyth

0

108

0

0

24

132

390

1.78

0.77

Franklin

0

8

0

0

0

8

1,193

0.58

0.25

Fulton

7

2,873

0

0

340

3,220

126

5.51

2.38

Gilmer

0

12

0

0

4

16

943

0.74

0.32

Glynn

0

21

0

0

0

21

1,730

0.40

0.17

Gordon

0

27

0

0

14

41

486

1.43

0.62

Grady

0

2

0

0

0

2

5,169

0.13

0.06

Greene

0

1

0

0

0

1

7,634

0.09

0.04

Gwinnett

0

1,095

0

0

115

1,210

219

3.16

1.36

Habersham

0

14

0

0

1

15

1,117

0.62

0.27

Hall

0

146

0

0

19

165

358

1.94

0.84

Hancock

0

0

0

0

0

0

 

0.00

0.00

Haralson

0

5

0

0

2

7

1,661

0.42

0.18

Harris

0

1

0

0

0

1

12,142

0.06

0.02

Hart

0

5

0

0

0

5

2,327

0.30

0.13

Heard

0

1

0

0

3

4

1,204

0.58

0.25

Henry

2

570

0

0

61

633

102

6.80

2.94

Houston

0

50

0

0

0

50

1,060

0.65

0.28

Irwin

0

2

0

0

0

2

2,104

0.33

0.14

Jackson

0

44

0

0

2

46

458

1.51

0.65

Jasper

0

11

0

0

3

14

411

1.69

0.73

Jefferson

0

0

0

0

0

0

 

0.00

0.00

Jenkins

0

4

0

0

0

4

983

0.71

0.30

Jones

0

4

0

0

0

4

2,665

0.26

0.11

Lamar

0

0

0

0

0

0

 

0.00

0.00

Lanier

0

0

0

0

0

0

 

0.00

0.00

Laurens

0

0

0

0

0

0

 

0.00

0.00

Lee

0

15

0

0

0

15

720

0.96

0.42

Liberty

0

21

0

0

0

21

1,125

0.62

0.27

Lincoln

0

3

0

0

0

3

1,573

0.44

0.19

Long

0

1

0

0

0

1

4,350

0.16

0.07

Lowndes

0

30

0

0

0

30

1,366

0.51

0.22

Lumpkin

1

13

0

0

7

21

484

1.43

0.62

Macon

0

0

0

0

0

0

 

0.00

0.00

Madison

1

8

0

0

0

9

1,259

0.55

0.24

Marion

0

1

0

0

0

1

3,210

0.22

0.09

Mcduffie

0

11

0

0

0

11

841

0.82

0.36

McIntosh

0

1

0

0

0

1

6,315

0.11

0.05

Meriwether

0

1

0

0

0

1

10,156

0.07

0.03

Miller

0

0

0

0

0

0

 

0.00

0.00

Mitchell

0

1

0

0

0

1

9,246

0.07

0.03

Monroe

0

0

0

0

0

0

 

0.00

0.00

Morgan

0

0

0

0

0

0

 

0.00

0.00

Murray

0

0

0

0

0

0

 

0.00

0.00

Muscogee

1

82

0

0

21

104

779

0.89

0.38

Newton

0

6

0

0

19

25

1,335

0.52

0.22

Oconee

0

2

0

0

0

2

5,741

0.12

0.05

Oglethorpe

0

0

0

0

0

0

 

0.00

0.00

Paulding

0

91

0

0

43

134

327

2.12

0.92

Peach

0

9

0

0

0

9

1,107

0.63

0.27

Pickens

0

13

0

0

5

18

726

0.95

0.41

Pierce

0

2

0

0

0

2

3,598

0.19

0.08

Pike

0

7

0

0

0

7

890

0.78

0.34

Polk

0

37

0

0

12

49

338

2.05

0.89

Pulaski

0

0

0

0

0

0

 

0.00

0.00

Putnam

0

0

0

0

0

0

 

0.00

0.00

Quitman

0

0

0

0

0

0

 

0.00

0.00

Rabun

0

7

0

0

0

7

1,705

0.41

0.18

Randolph

0

0

0

0

0

0

 

0.00

0.00

Richmond

0

137

0

0

42

179

479

1.45

0.62

Rockdale

0

211

0

0

3

214

137

5.08

2.19

Schley

0

1

0

0

0

1

1,648

0.42

0.18

Screven

0

0

0

0

0

0

 

0.00

0.00

Seminole

0

0

0

0

0

0

 

0.00

0.00

Spalding

0

45

0

0

31

76

334

2.07

0.90

Stephens

0

9

0

0

0

9

1,352

0.51

0.22

Stewart

0

1

0

0

0

1

2,361

0.29

0.13

Sumter

0

4

0

0

0

4

3,541

0.20

0.08

Talbot

0

0

0

0

0

0

 

0.00

0.00

Tattnall

0

3

0

0

0

3

2,911

0.24

0.10

Taylor

0

0

0

0

0

0

 

0.00

0.00

Telfair

0

1

0

0

0

1

5,150

0.13

0.06

Terrell

0

0

0

0

0

0

 

0.00

0.00

Thomas

0

1

0

0

1

2

9,672

0.07

0.03

Tift

0

9

0

0

0

9

1,784

0.39

0.17

Toombs

0

1

0

0

0

1

11,742

0.06

0.03

Towns

0

0

0

0

0

0

 

0.00

0.00

Troup

0

2

0

0

0

2

13,090

0.05

0.02

Turner

0

0

0

0

0

0

 

0.00

0.00

Union

0

0

0

0

0

0

 

0.00

0.00

Upson

0

1

0

0

0

1

12,165

0.06

0.02

Walker

0

57

0

0

2

59

469

1.48

0.64

Walton

1

74

0

0

13

88

330

2.10

0.91

Ware

0

11

0

0

0

11

1,481

0.47

0.20

Washington

0

0

0

0

0

0

 

0.00

0.00

Wayne

0

4

0

0

0

4

2,763

0.25

0.11

White

0

13

0

0

0

13

864

0.80

0.35

Whitfield

0

12

0

0

1

13

2,619

0.26

0.11

Wilcox

0

0

0

0

0

0

 

0.00

0.00

Wilkes

0

1

0

0

0

1

5,141

0.13

0.06

Wilkinson

0

1

0

0

0

1

4,550

0.15

0.07

Worth

0

0

0

0

0

0

 

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

 

To search and research real estate data for more than 130 million properties nationwide, sign up for a FREE trial to RealtyTrac.

For the latest real estate news and trends get a FREE issue of our award-winning real estate newsletter, the Housing News Report.

Related Posts

Leave a Reply

Copyright © 2016 Renwood RealtyTrac LLC - All rights reserved