NORTH CAROLINA FORECLOSURE ACTIVITY DOWN 13 PERCENT IN NOVEMBER

Foreclosure Activity Decreases 30 Percent From November 2007

 

IRVINE, Calif. – Dec. 29, 2008 – North Carolina reported 2,793 properties with foreclosure filings in November, a 13 percent decrease from the previous month and 30 percent below the level reported for November 2007, according to the latest RealtyTrac® U.S. Foreclosure Market Report.

 

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.

 

North Carolina foreclosures in November were down both on a monthly and annual basis,” said James J. Saccacio, chief executive officer of RealtyTrac. “A recent state law that extends the initial stages of the foreclosure process may be contributing to the overall decline.”

 

North Carolina ranked 20th in the country in total properties with foreclosure filings for the month. With one in every 1,443 housing units receiving a foreclosure filing, its foreclosure rate ranked 31st highest among the 50 states.

 

Five counties dominate state’s foreclosure activity for November

Five North Carolina counties accounted for 62 percent of all foreclosure activity in the state for November. Mecklenburg County reported 517 properties with foreclosure filings for the month. Guilford County documented the state’s second highest total, reporting 463 properties with foreclosure filings. Third highest was Wake County, reporting 327 properties with foreclosure filings. Forsyth County came in fourth place, documenting 260 properties with foreclosure filings, followed by Durham County, reporting 162 properties with filings.

 

Stanly County posts top foreclosure rate for November

Stanly County tallied the highest county foreclosure rate in the state in November, with one in every 406 housing units receiving a foreclosure filing for the month – 3.6 times the state average and 1.2 times the national average. Guilford County posted the state’s second highest rate, with one in every 442 housing units receiving a foreclosure filing during the month – 3.3 times the state average and slightly above the national average. The third highest rate in the state was reported in Forsyth County, where one in every 575 housing units received a foreclosure filing in November – 2.5 times the state average but below the national average.

 

State contributes 1 percent to nation’s foreclosure total in November

North Carolina accounted for 1 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.

 

          North Carolina 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

North Carolina

729

0

537

0

1,527

2,793

1,443

0.34

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

1

0

4

0

11

16

3,893

0.13

0.37

Alexander

0

0

1

0

1

2

7,557

0.06

0.19

Alleghany

0

0

0

0

0

0

 n/a

0.00

0.00

Anson

0

0

0

0

7

7

1,500

0.32

0.96

Ashe

0

0

0

0

0

0

 n/a

0.00

0.00

Avery

0

0

0

0

3

3

4,397

0.11

0.33

Beaufort

0

0

2

0

2

4

5,876

0.08

0.25

Bertie

0

0

1

0

0

1

9,307

0.05

0.15

Bladen

0

0

0

0

0

0

 n/a

0.00

0.00

Brunswick

0

0

1

0

17

18

3,833

0.13

0.38

Buncombe

0

0

6

0

22

28

3,766

0.13

0.38

Burke

0

0

1

0

28

29

1,347

0.36

1.07

Cabarrus

1

0

7

0

39

47

1,383

0.35

1.04

Caldwell

0

0

0

0

6

6

5,953

0.08

0.24

Camden

0

0

0

0

0

0

 n/a

0.00

0.00

Carteret

0

0

1

0

2

3

15,037

0.03

0.10

Caswell

0

0

0

0

0

0

 n/a

0.00

0.00

Catawba

0

0

6

0

27

33

2,011

0.24

0.72

Chatham

0

0

1

0

3

4

6,247

0.08

0.23

Cherokee

0

0

1

0

0

1

15,802

0.03

0.09

Chowan

0

0

0

0

0

0

 n/a

0.00

0.00

Clay

0

0

0

0

0

0

 n/a

0.00

0.00

Cleveland

0

0

2

0

18

20

2,137

0.23

0.68

Columbus

0

0

0

0

0

0

 n/a

0.00

0.00

Craven

1

0

0

0

20

21

2,061

0.24

0.70

Cumberland

2

0

6

0

27

35

3,775

0.13

0.38

Currituck

0

0

1

0

5

6

2,260

0.22

0.64

Dare

0

0

1

0

19

20

1,597

0.31

0.90

Davidson

1

0

2

0

49

52

1,305

0.37

1.11

Davie

0

0

0

0

1

1

17,052

0.03

0.08

Duplin

0

0

2

0

7

9

2,373

0.21

0.61

Durham

109

0

9

0

44

162

698

0.70

2.07

Edgecombe

0

0

6

0

0

6

4,192

0.12

0.34

Forsyth

48

0

99

0

113

260

575

0.85

2.51

Franklin

1

0

1

0

21

23

1,010

0.48

1.43

Gaston

1

0

12

0

70

83

1,036

0.47

1.39

Gates

0

0

0

0

0

0

 n/a

0.00

0.00

Graham

0

0

0

0

0

0

 n/a

0.00

0.00

Granville

1

0

1

0

0

2

10,489

0.05

0.14

Greene

1

0

2

0

0

3

2,515

0.19

0.57

Guilford

43

0

193

0

227

463

442

1.10

3.27

Halifax

0

0

2

0

0

2

12,950

0.04

0.11

Harnett

0

0

2

0

5

7

6,279

0.08

0.23

Haywood

0

0

0

0

1

1

31,301

0.02

0.05

Henderson

0

0

1

0

2

3

16,217

0.03

0.09

Hertford

0

0

0

0

1

1

9,941

0.05

0.15

Hoke

0

0

0

0

0

0

 n/a

0.00

0.00

Hyde

0

0

0

0

0

0

 n/a

0.00

0.00

Iredell

0

0

2

0

42

44

1,464

0.33

0.99

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Johnston

1

0

2

0

36

39

1,549

0.31

0.93

Jones

0

0

0

0

1

1

4,726

0.10

0.31

Lee

1

0

2

0

0

3

7,346

0.07

0.20

Lenoir

1

0

9

0

1

11

2,543

0.19

0.57

Lincoln

1

0

1

0

4

6

5,024

0.10

0.29

Macon

0

0

1

0

0

1

22,853

0.02

0.06

Madison

0

0

0

0

1

1

10,556

0.05

0.14

Martin

0

0

0

0

1

1

11,118

0.04

0.13

Mcdowell

0

0

0

0

1

1

19,488

0.03

0.07

Mecklenburg

265

0

30

0

222

517

715

0.68

2.02

Mitchell

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

Moore

0

0

3

0

6

9

4,428

0.11

0.33

Nash

0

0

3

0

24

27

1,499

0.33

0.96

New Hanover

0

0

8

0

34

42

2,282

0.21

0.63

Northampton

0

0

0

0

0

0

 n/a

0.00

0.00

Onslow

2

0

2

0

14

18

3,541

0.14

0.41

Orange

12

0

3

0

2

17

3,200

0.15

0.45

Pamlico

0

0

0

0

0

0

 n/a

0.00

0.00

Pasquotank

1

0

2

0

0

3

5,282

0.09

0.27

Pender

0

0

0

0

3

3

8,154

0.06

0.18

Perquimans

1

0

0

0

0

1

6,607

0.07

0.22

Person

0

0

0

0

3

3

5,600

0.09

0.26

Pitt

2

0

23

0

2

27

2,594

0.19

0.56

Polk

0

0

1

0

0

1

10,146

0.05

0.14

Randolph

2

0

33

0

12

47

1,257

0.39

1.15

Richmond

0

0

0

0

0

0

 n/a

0.00

0.00

Robeson

1

0

1

0

1

3

16,607

0.03

0.09

Rockingham

0

0

2

0

0

2

21,209

0.02

0.07

Rowan

0

0

5

0

55

60

977

0.50

1.48

Rutherford

0

0

1

0

1

2

15,720

0.03

0.09

Sampson

0

0

0

0

0

0

 n/a

0.00

0.00

Scotland

0

0

0

0

9

9

1,693

0.29

0.85

Stanly

0

0

1

0

65

66

406

1.20

3.55

Stokes

1

0

1

0

5

7

2,907

0.17

0.50

Surry

0

0

1

0

10

11

2,931

0.17

0.49

Swain

0

0

0

0

0

0

 n/a

0.00

0.00

Transylvania

0

0

0

0

0

0

 n/a

0.00

0.00

Tyrrell

0

0

0

0

0

0

 n/a

0.00

0.00

Union

1

0

3

0

30

34

1,873

0.26

0.77

Vance

0

0

0

0

0

0

 n/a

0.00

0.00

Wake

223

0

19

0

85

327

996

0.49

1.45

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

Watauga

0

0

1

0

4

5

5,313

0.09

0.27

Wayne

2

0

1

0

50

53

949

0.51

1.52

Wilkes

0

0

1

0

0

1

30,595

0.02

0.05

Wilson

1

0

0

0

2

3

11,173

0.04

0.13

Yadkin

1

0

1

0

3

5

3,324

0.15

0.43

Yancey

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

 

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