SOUTH CAROLINA FORECLOSURE ACTIVITY DOWN 21 PERCENT IN JUNE

IRVINE, Calif. – July 28, 2008 – Foreclosure filings were reported on 1,063 South Carolina properties in June, a 21 percent decrease from the previous month, but still 168 percent above the level reported for June 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.

 

“Though South Carolina’s unemployment rate dropped slightly in June, that rate of 6.2 percent is still significantly higher than the national average,” said James J. Saccacio, chief executive officer of RealtyTrac. “Adding in factors such as rising gas prices, South Carolina appears to be looking at a long road to economic recovery, with foreclosures still up 168 percent from this time last year.”

 

South Carolina ranked 29th in the country in total properties with foreclosure filings reported in June. One in every 1,859 South Carolina households received a foreclosure filing during the month, ranking 35th among the 50 states.

 

Lexington County leads state in foreclosure activity for June

Lexington County led all counties in South Carolina, reporting 217 properties with foreclosure filings. Greenville County posted the second highest foreclosure total, reporting 152 properties with foreclosure filings. Richland County registered the third highest foreclosure total, reporting 133 properties with foreclosure filings. Anderson County came in fourth, reporting 93 properties with foreclosure filings, followed by Charleston County, which reported 78 properties with foreclosure filings for the month.

 

Lexington County posts state’s highest foreclosure rate in June

Lexington County posted the highest foreclosure rate in South Carolina, with one in every 468 households receiving a foreclosure filing in June — four times the state average. Anderson County posted the second highest foreclosure rate, where one in every 871 households received a foreclosure filing — 2.1 times the state average. Richland County had the third highest foreclosure rate, with one in every 1,127 households receiving a foreclosure filing. Greenville County posted the fourth highest rate, where one in every 1,199 households received a foreclosure filing during the month. Dorchester County came in fifth place, with one in every 1,570 households receiving a foreclosure filing in June.

 

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

South Carolina accounted for less than 1 percent of the 252,363 properties with foreclosure filings reported nationwide in June. The national total represents a decrease of more than 3 percent from the previous month but is still 53 percent ahead of the total reported for June 2007. One in every 501 U.S. households 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 – June 2008

 

County

NOD

LIS

NTS

NFS

REO

Total

1/every X HH (rate)

/National Average

/State Average

 

 

 

 

 

 

 

 

 

 

United States

53,544

48,996

53,904

24,356

71,563

252,363

501

n/a

n/a

South Carolina

0

171

10

134

747

1,062

1,859

0.27

n/a

 

 

 

 

 

 

 

 

 

 

Abbeville

0

0

0

1

1

2

5,952

0.08

0.31

Aiken

0

0

0

3

12

15

4,469

0.11

0.42

Allendale

0

0

0

0

0

0

n/a

0.00

0.00

Anderson

0

0

1

49

43

93

871

0.57

2.13

Bamberg

0

0

0

0

0

0

n/a

0.00

0.00

Barnwell

0

0

0

0

1

1

10,278

0.05

0.18

Beaufort

0

0

1

2

33

36

2,172

0.23

0.86

Berkeley

0

0

0

1

28

29

2,187

0.23

0.85

Calhoun

0

0

1

0

1

2

3,650

0.14

0.51

Charleston

0

0

0

39

39

78

2,117

0.24

0.88

Cherokee

0

0

0

0

1

1

23,147

0.02

0.08

Chester

0

0

0

0

2

2

7,387

0.07

0.25

Chesterfield

0

0

0

0

1

1

19,555

0.03

0.10

Clarendon

0

0

0

0

0

0

n/a

0.00

0.00

Colleton

0

0

0

1

6

7

2,701

0.19

0.69

Darlington

0

0

0

0

6

6

4,985

0.10

0.37

Dillon

0

0

0

0

0

0

n/a

0.00

0.00

Dorchester

0

0

0

1

28

29

1,570

0.32

1.18

Edgefield

0

0

0

0

4

4

2,449

0.20

0.76

Fairfield

0

0

1

0

1

2

5,415

0.09

0.34

Florence

0

0

0

1

17

18

2,985

0.17

0.62

Georgetown

0

0

0

0

5

5

6,512

0.08

0.29

Greenville

0

0

0

4

148

152

1,199

0.42

1.55

Greenwood

0

0

1

1

2

4

7,450

0.07

0.25

Hampton

0

0

0

0

0

0

n/a

0.00

0.00

Horry

0

0

0

2

31

33

4,801

0.10

0.39

Jasper

0

0

0

0

4

4

2,123

0.24

0.88

Kershaw

0

0

0

1

1

2

12,567

0.04

0.15

Lancaster

0

0

0

0

17

17

1,586

0.32

1.17

Laurens

0

0

0

2

17

19

1,649

0.30

1.13

Lee

0

0

0

0

0

0

n/a

0.00

0.00

Lexington

0

171

0

4

42

217

468

1.07

3.97

Marion

0

0

0

0

0

0

n/a

0.00

0.00

Marlboro

0

0

0

1

1

2

5,991

0.08

0.31

McCormick

0

0

0

0

0

0

n/a

0.00

0.00

Newberry

0

0

0

1

8

9

1,941

0.26

0.96

Oconee

0

0

1

1

2

4

9,078

0.06

0.20

Orangeburg

0

0

0

2

18

20

2,048

0.24

0.91

Pickens

0

0

0

1

12

13

3,874

0.13

0.48

Richland

0

0

2

12

119

133

1,127

0.44

1.65

Saluda

0

0

0

0

2

2

4,395

0.11

0.42

Spartanburg

0

0

1

1

55

57

2,083

0.24

0.89

Sumter

0

0

1

0

11

12

3,704

0.14

0.50

Union

0

0

0

0

2

2

6,763

0.07

0.27

Williamsburg

0

0

0

0

0

0

n/a

0.00

0.00

York

0

0

0

3

26

29

2,854

0.18

0.65

Abbeville

0

0

0

1

1

2

5,952

0.08

0.31

Aiken

0

0

0

3

12

15

4,469

0.11

0.42

Allendale

0

0

0

0

0

0

n/a

0.00

0.00

Anderson

0

0

1

49

43

93

871

0.57

2.13

Bamberg

0

0

0

0

0

0

n/a

0.00

0.00

Barnwell

0

0

0

0

1

1

10,278

0.05

0.18

Beaufort

0

0

1

2

33

36

2,172

0.23

0.86

Berkeley

0

0

0

1

28

29

2,187

0.23

0.85

Calhoun

0

0

1

0

1

2

3,650

0.14

0.51

Charleston

0

0

0

39

39

78

2,117

0.24

0.88

Cherokee

0

0

0

0

1

1

23,147

0.02

0.08

Chester

0

0

0

0

2

2

7,387

0.07

0.25

Chesterfield

0

0

0

0

1

1

19,555

0.03

0.10

Clarendon

0

0

0

0

0

0

n/a

0.00

0.00

Colleton

0

0

0

1

6

7

2,701

0.19

0.69

Darlington

0

0

0

0

6

6

4,985

0.10

0.37

Dillon

0

0

0

0

0

0

n/a

0.00

0.00

Dorchester

0

0

0

1

28

29

1,570

0.32

1.18

Edgefield

0

0

0

0

4

4

2,449

0.20

0.76

Fairfield

0

0

1

0

1

2

5,415

0.09

0.34

Florence

0

0

0

1

17

18

2,985

0.17

0.62

Georgetown

0

0

0

0

5

5

6,512

0.08

0.29

Greenville

0

0

0

4

148

152

1,199

0.42

1.55

Greenwood

0

0

1

1

2

4

7,450

0.07

0.25

Hampton

0

0

0

0

0

0

n/a

0.00

0.00

Horry

0

0

0

2

31

33

4,801

0.10

0.39

Jasper

0

0

0

0

4

4

2,123

0.24

0.88

Kershaw

0

0

0

1

1

2

12,567

0.04

0.15

Lancaster

0

0

0

0

17

17

1,586

0.32

1.17

Laurens

0

0

0

2

17

19

1,649

0.30

1.13

Lee

0

0

0

0

0

0

n/a

0.00

0.00

Lexington

0

171

0

4

42

217

468

1.07

3.97

Marion

0

0

0

0

0

0

n/a

0.00

0.00

Marlboro

0

0

0

1

1

2

5,991

0.08

0.31

McCormick

0

0

0

0

0

0

n/a

0.00

0.00

Newberry

0

0

0

1

8

9

1,941

0.26

0.96

Oconee

0

0

1

1

2

4

9,078

0.06

0.20

Orangeburg

0

0

0

2

18

20

2,048

0.24

0.91

Pickens

0

0

0

1

12

13

3,874

0.13

0.48

Richland

0

0

2

12

119

133

1,127

0.44

1.65

Saluda

0

0

0

0

2

2

4,395

0.11

0.42

Spartanburg

0

0

1

1

55

57

2,083

0.24

0.89

Sumter

0

0

1

0

11

12

3,704

0.14

0.50

Union

0

0

0

0

2

2

6,763

0.07

0.27

Williamsburg

0

0

0

0

0

0

n/a

0.00

0.00

York

0

0

0

3

26

29

2,854

0.18

0.65

 

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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