SOUTH CAROLINA FORECLOSURE ACTIVITY DOWN 2 PERCENT IN APRIL

Foreclosure Activity Up 181 Percent From April 2008

 

IRVINE, Calif. – May 29, 2009 – Foreclosure filings were reported on 2,309 South Carolina properties in April, a 2 percent decline from the previous month, but still 181 percent above the level reported for April 2008, 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.

 

“Although South Carolina foreclosures were down slightly in April, the numbers nearly tripled from this time last year,” said James J. Saccacio, chief executive officer of RealtyTrac. “The state has held one of the highest unemployment rates in the country for several months now. This is undoubtedly contributing to the year-over increase.”

 

South Carolina ranked 27th in the country in total foreclosures reported for the month. With one in every 876 housing units receiving a foreclosure filing, its foreclosure rate ranked 28th among the 50 states.

 

Five counties account for bulk of state foreclosure activity in April

Greenville County led the way, reporting 382 properties with foreclosure filings in April. Charleston County reported 337 properties with foreclosure filings, the state’s second highest county total. Dorchester County came in third highest, reporting 232 properties with foreclosure filings. Beaufort County came in fourth, documenting 217 properties with foreclosure filings, while the fifth highest total was in Horry County, where 201 properties with foreclosure filings were reported for the month.

 

Dorchester County posts state’s highest foreclosure rate for April

Dorchester County topped the list, with one in every 204 housing units receiving a foreclosure filing — 4.3 times the state average and 1.8 times the national average. Berkeley County had the second highest foreclosure rate, with one in every 332 housing units receiving a foreclosure filing — 2.6 times the state average. Beaufort County documented the third highest foreclosure rate, where one in every 375 housing units received a foreclosure filing during the month — 2.3 the state average.

 

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

South Carolina accounted for 1 percent of the 342,038 properties with foreclosure filings reported nationwide in April. The national total represented a negligible increase in activity from the previous month but was still 32 percent ahead of the total reported for April 2008. One in every 374 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.

 

     South Carolina Foreclosure Market Data by County – April 2009

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HU (rate)

% Chg Mar 09

% Chg Apr 08

 

 

 

 

 

 

 

 

 

 

United States

65,456

76,608

100,559

35,512

63,903

342,038

374

0.25

32.25

South Carolina

0

1,111

0

501

697

2,309

876

-2.41

180.56

 

 

 

 

 

 

 

 

 

 

Abbeville

0

0

0

0

0

0

n/a

 n/a

n/a 

Aiken

0

51

0

0

19

70

971

-42.15

400.00

Allendale

0

0

0

0

0

0

n/a

n/a

 n/a

Anderson

0

5

0

2

31

38

2,166

-37.70

-36.67

Bamberg

0

0

0

0

0

0

n/a

 n/a

n/a

Barnwell

0

1

0

0

0

1

10,257

-66.67

 n/a

Beaufort

0

80

0

82

55

217

375

18.58

1105.56

Berkeley

0

89

0

73

35

197

332

40.71

688.00

Calhoun

0

0

0

0

0

0

n/a

n/a

-100.00

Charleston

0

213

0

88

36

337

503

-9.65

270.33

Cherokee

0

0

0

0

0

0

n/a

-100.00

n/a

Chester

0

0

0

0

1

1

14,838

n/a

-50.00

Chesterfield

0

0

0

0

0

0

n/a

-100.00

 n/a

Clarendon

0

0

0

0

0

0

n/a

 n/a

 n/a

Colleton

0

0

0

0

8

8

2,375

300.00

60.00

Darlington

0

1

0

0

4

5

5,994

-50.00

-61.54

Dillon

0

0

0

0

1

1

12,912

 n/a

 n/a

Dorchester

0

112

0

83

37

232

204

10.48

908.70

Edgefield

0

0

0

0

0

0

n/a

-100.00

-100.00

Fairfield

0

0

0

10

4

14

777

100.00

133.33

Florence

0

1

0

0

8

9

6,032

50.00

-40.00

Georgetown

0

2

0

0

15

17

1,952

112.50

183.33

Greenville

0

195

0

111

76

382

487

-15.49

282.00

Greenwood

0

0

0

0

1

1

29,898

 n/a

0.00

Hampton

0

0

0

0

0

0

n/a

 n/a

 n/a

Horry

0

165

0

0

36

201

836

-18.29

644.44

Jasper

0

0

0

0

9

9

971

800.00

800.00

Kershaw

0

0

0

24

2

26

983

36.84

1200.00

Lancaster

0

0

0

1

14

15

1,969

0.00

87.50

Laurens

0

0

0

0

18

18

1,742

80.00

20.00

Lee

0

0

0

0

0

0

n/a

 n/a

-100.00

Lexington

0

2

0

0

69

71

1,469

-10.13

61.36

Marion

0

0

0

0

0

0

n/a

-100.00

 n/a

Marlboro

0

0

0

0

0

0

n/a

 n/a

 n/a

McCormick

0

0

0

0

0

0

n/a

-100.00

 n/a

Newberry

0

20

0

0

9

29

607

16.00

314.29

Oconee

0

0

0

0

5

5

7,403

-68.75

-28.57

Orangeburg

0

0

0

23

11

34

1,210

-22.73

161.54

Pickens

0

57

0

0

32

89

574

102.27

304.55

Richland

0

0

0

4

52

56

2,746

-21.13

-53.72

Saluda

0

0

0

0

1

1

8,798

 n/a

0.00

Spartanburg

0

2

0

0

58

60

2,011

9.09

-36.84

Sumter

0

31

0

0

21

52

866

18.18

92.59

Union

0

0

0

0

0

0

n/a

 n/a

-100.00

Williamsburg

0

0

0

0

0

0

n/a

 n/a

 n/a

York

0

84

0

0

29

113

759

-1.74

140.43

 

About RealtyTrac Inc.

RealtyTrac (www.realtytrac.com) is the leading online marketplace of foreclosure properties, with more than 1.5 million default, auction and bank-owned listings from over 2,200 U.S. counties, along with detailed property, loan and home sales data. Hosting more than 3 million unique monthly visitors, RealtyTrac provides innovative technology solutions and practical education resources to facilitate buying, selling and investing in real estate.

Cited by thousands of media outlets each quarter — including all the major news networks, leading publications such as The Wall Street Journal, The New York Times, and USA TODAY, RealtyTrac’s foreclosure data also has been used by the Federal Reserve, FBI, U.S. Senate Joint Economic Committee and Banking Committee, U.S. Treasury Department, and numerous state housing and banking departments to help evaluate foreclosure trends and address policy issues related to foreclosures.

###

 

Media Contact:

Michelle Sabolich

Atomic Public Relations

415-402-0230

michelle.sabolich@atomicpr.com

 

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