NORTH CAROLINA FORECLOSURE ACTIVITY UP 30 PERCENT IN OCTOBER

Filings Statewide Decrease 20 Percent From October 2007

 

IRVINE, Calif. – Nov. 26, 2008 – Foreclosure filings were reported on 3,214 North Carolina properties in October, an increase of 30 percent from the previous month, and 20 percent below the level reported for October 20077, 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 foreclosure filings rose nearly one third between September and October, though the state saw a decrease in activity compared to this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “Unemployment numbers in the Tar Heel state rose to 7 percent in October, marking a six-year high as conditions are expected to decline further, causing worry for many homeowners.”

 

North Carolina ranked 20th in the country in total properties with foreclosure filings for October. One in every 1,254 North Carolina housing units received a foreclosure filing during the month, ranking 29th among the 50 states.

 

Mecklenburg County tops in foreclosure activity for October

Mecklenburg County led the state reporting 973 properties with foreclosure filings for the month. Guilford County came in second highest, reporting 418 properties with foreclosure filings. Wake County ranked third highest, reporting 349 properties with foreclosure filings. Forsyth County came in fourth place, documenting 344 properties with foreclosure filings.

 

Mecklenburg County post state’s top rate for October

Mecklenburg County tallied the highest county foreclosure rate in North Carolina for October, with one in every 380 housing units receiving a foreclosure filing during the month — 3.3 times the state average. Forsyth County posted the second highest foreclosure rate, where one in every 435 housing units received a foreclosure filing — 2.9 times the state average. Guilford County documented the third highest foreclosure rate, where one in every 489 housing units received a foreclosure filing during the month — 2.6 times the state average.

 

State a minor contributor to nation’s foreclosure total in October

North Carolina accounted for 1 percent of the 279,561 properties with foreclosure filings reported nationwide in October. The national total represented a increase of more than 5 percent from the previous month and was still almost 25 percent ahead of the total reported for October 2007. One in every 452 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 – October 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

36,036

66,033

66,319

26,305

84,868

279,561

452

n/a

n/a

North Carolina

1,178

0

724

0

1,312

3,214

1,254

0.36

n/a

 

 

 

 

 

 

 

 

 

 

Alamance

6

0

18

0

26

50

1,246

0.36

1.01

Alexander

1

0

0

0

1

2

7,557

0.06

0.17

Alleghany

0

0

0

0

0

0

 n/a

0.00

0.00

Anson

0

0

1

0

6

7

1,500

0.30

0.84

Ashe

1

0

0

0

0

1

14,947

0.03

0.08

Avery

1

0

0

0

0

1

13,191

0.03

0.10

Beaufort

4

0

10

0

0

14

1,679

0.27

0.75

Bertie

1

0

0

0

0

1

9,307

0.05

0.13

Bladen

0

0

0

0

0

0

 n/a

0.00

0.00

Brunswick

0

0

1

0

2

3

22,999

0.02

0.05

Buncombe

2

0

0

0

27

29

3,636

0.12

0.34

Burke

0

0

0

0

0

0

 n/a

0.00

0.00

Cabarrus

2

0

3

0

30

35

1,857

0.24

0.68

Caldwell

1

0

1

0

18

20

1,786

0.25

0.70

Camden

0

0

1

0

0

1

3,715

0.12

0.34

Carteret

1

0

0

0

3

4

11,278

0.04

0.11

Caswell

0

0

0

0

0

0

 n/a

0.00

0.00

Catawba

1

0

3

0

21

25

2,655

0.17

0.47

Chatham

0

0

1

0

6

7

3,570

0.13

0.35

Cherokee

0

0

0

0

2

2

7,901

0.06

0.16

Chowan

0

0

0

0

1

1

6,897

0.07

0.18

Clay

0

0

1

0

0

1

6,475

0.07

0.19

Cleveland

0

0

0

0

0

0

 n/a

0.00

0.00

Columbus

0

0

0

0

0

0

 n/a

0.00

0.00

Craven

1

0

21

0

8

30

1,442

0.31

0.87

Cumberland

1

0

4

0

33

38

3,477

0.13

0.36

Currituck

0

0

0

0

4

4

3,390

0.13

0.37

Dare

0

0

1

0

46

47

680

0.66

1.84

Davidson

1

0

6

0

28

35

1,939

0.23

0.65

Davie

0

0

0

0

0

0

 n/a

0.00

0.00

Duplin

0

0

0

0

3

3

7,118

0.06

0.18

Durham

101

0

4

0

43

148

764

0.59

1.64

Edgecombe

0

0

0

0

3

3

8,384

0.05

0.15

Forsyth

52

0

192

0

100

344

435

1.04

2.88

Franklin

0

0

1

0

7

8

2,903

0.16

0.43

Gaston

2

0

5

0

59

66

1,302

0.35

0.96

Gates

0

0

1

0

0

1

4,530

0.10

0.28

Graham

0

0

0

0

0

0

 n/a

0.00

0.00

Granville

1

0

1

0

1

3

6,992

0.06

0.18

Greene

2

0

3

0

0

5

1,509

0.30

0.83

Guilford

27

0

267

0

124

418

489

0.92

2.56

Halifax

0

0

1

0

0

1

25,899

0.02

0.05

Harnett

1

0

0

0

11

12

3,663

0.12

0.34

Haywood

0

0

0

0

2

2

15,651

0.03

0.08

Henderson

0

0

0

0

3

3

16,217

0.03

0.08

Hertford

0

0

0

0

0

0

 n/a

0.00

0.00

Hoke

0

0

0

0

2

2

7,632

0.06

0.16

Hyde

0

0

0

0

0

0

 n/a

0.00

0.00

Iredell

1

0

2

0

44

47

1,371

0.33

0.91

Jackson

0

0

0

0

0

0

 n/a

0.00

0.00

Johnston

1

0

3

0

37

41

1,473

0.31

0.85

Jones

0

0

0

0

3

3

1,575

0.29

0.80

Lee

0

0

1

0

1

2

11,019

0.04

0.11

Lenoir

0

0

1

0

2

3

9,324

0.05

0.13

Lincoln

1

0

1

0

7

9

3,349

0.13

0.37

Macon

0

0

0

0

0

0

 n/a

0.00

0.00

Madison

0

0

0

0

1

1

10,556

0.04

0.12

Martin

0

0

0

0

1

1

11,118

0.04

0.11

McDowell

0

0

1

0

0

1

19,488

0.02

0.06

Mecklenburg

664

0

31

0

278

973

380

1.19

3.30

Mitchell

0

0

1

0

0

1

8,258

0.05

0.15

Montgomery

0

0

1

0

0

1

14,745

0.03

0.09

Moore

0

0

0

0

0

0

 n/a

0.00

0.00

Nash

0

0

2

0

18

20

2,024

0.22

0.62

New Hanover

0

0

0

0

48

48

1,997

0.23

0.63

Northampton

0

0

0

0

0

0

 n/a

0.00

0.00

Onslow

1

0

3

0

20

24

2,656

0.17

0.47

Orange

15

0

0

0

3

18

3,022

0.15

0.41

Pamlico

0

0

0

0

0

0

 n/a

0.00

0.00

Pasquotank

0

0

0

0

0

0

 n/a

0.00

0.00

Pender

0

0

0

0

8

8

3,058

0.15

0.41

Perquimans

0

0

0

0

0

0

 n/a

0.00

0.00

Person

2

0

0

0

1

3

5,600

0.08

0.22

Pitt

3

0

38

0

3

44

1,592

0.28

0.79

Polk

0

0

0

0

0

0

 n/a

0.00

0.00

Randolph

3

0

45

0

18

66

895

0.50

1.40

Richmond

0

0

0

0

0

0

 n/a

0.00

0.00

Robeson

1

0

1

0

3

5

9,964

0.05

0.13

Rockingham

0

0

0

0

3

3

14,139

0.03

0.09

Rowan

0

0

1

0

3

4

14,655

0.03

0.09

Rutherford

0

0

2

0

5

7

4,491

0.10

0.28

Sampson

0

0

1

0

2

3

8,701

0.05

0.14

Scotland

0

0

1

0

0

1

15,239

0.03

0.08

Stanly

0

0

1

0

2

3

8,938

0.05

0.14

Stokes

0

0

0

0

39

39

522

0.87

2.40

Surry

0

0

1

0

8

9

3,582

0.13

0.35

Swain

0

0

0

0

0

0

 n/a

0.00

0.00

Transylvania

0

0

0

0

3

3

5,687

0.08

0.22

Tyrrell

0

0

0

0

0

0

 n/a

0.00

0.00

Union

2

0

7

0

47

56

1,137

0.40

1.10

Vance

0

0

0

0

1

1

18,936

0.02

0.07

Wake

265

0

20

0

64

349

933

0.48

1.34

Warren

0

0

0

0

1

1

11,254

0.04

0.11

Washington

0

0

1

0

0

1

6,234

0.07

0.20

Watauga

0

0

1

0

0

1

26,564

0.02

0.05

Wayne

9

0

7

0

12

28

1,797

0.25

0.70

Wilkes

0

0

0

0

1

1

30,595

0.01

0.04

Wilson

0

0

3

0

5

8

4,190

0.11

0.30

Yadkin

0

0

0

0

0

0

 n/a

0.00

0.00

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